ALFRED UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$136,262,762
Program Services
54%
Government Grants
26%
Contributions
11%
Other
6%
Investments
3%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$128,272,569
Salaries & Benefits
39%
Grants
31%
Other
9%
Fees to Service Providers
8%
Depreciation
7%
Offices, Occupancy & IT
6%
Advertising & Promotion
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$8,963,979
$15,454,402
+72%
Government Grants
$27,991,656
$35,873,017
+28%
Fundraising Events
$0
$0
-
Program Services
$63,242,615
$73,333,927
+16%
Membership Dues
$0
$0
-
Investments
$3,336,564
$3,940,378
+18%
Other
$2,483,584
$7,661,038
+208%
Total Revenues
$106,018,398
$136,262,762
+29%
Expenses
2023
2024
Change
Grants
$32,993,181
$39,503,814
+20%
Benefits to Members
$0
$0
-
Salaries & Benefits
$43,113,659
$50,122,478
+16%
Fees to Service Providers
$9,023,466
$10,298,704
+14%
Advertising & Promotion
$134,157
$481,888
+259%
Offices, Occupancy & IT
$7,871,099
$7,822,266
-1%
Interest
$363,218
$344,016
-5%
Depreciation
$8,411,674
$8,523,602
+1%
Other
$10,453,007
$11,175,801
+7%
Total Expenses
$112,363,461
$128,272,569
+14%
Net income
2023
2024
Change
Net income
-$6,345,063
+$7,990,193
-226%
Functional Expenses
Summary
2023
2024
Change
Program
$99,000,763
$113,131,979
+14%
Admin
$11,651,559
$13,344,394
+15%
Fundraising
$1,711,139
$1,796,196
+5%
Total Expenses
$112,363,461
$128,272,569
+14%
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