Puritan Reformed Theological Seminary
Income Statement
Fiscal Year Start:
Aug 1
Revenues in 2024
$9,252,660
Contributions
85%
Program Services
8%
Other
4%
Investments
4%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$6,039,740
Salaries & Benefits
56%
Offices, Occupancy & IT
13%
Other
12%
Grants
7%
Depreciation
6%
Fees to Service Providers
3%
Advertising & Promotion
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$6,003,224
$7,821,312
+30%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$578,226
$739,415
+28%
Membership Dues
$0
$0
-
Investments
$42,853
$331,741
+674%
Other
$42,524
$360,192
+747%
Total Revenues
$6,666,827
$9,252,660
+39%
Expenses
2023
2024
Change
Grants
$239,770
$445,586
+86%
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,832,722
$3,406,380
+20%
Fees to Service Providers
$55,318
$190,574
+245%
Advertising & Promotion
$138,692
$41,528
-70%
Offices, Occupancy & IT
$561,930
$802,446
+43%
Interest
$6,386
$13,817
+116%
Depreciation
$348,896
$385,477
+10%
Other
$553,498
$753,932
+36%
Total Expenses
$4,737,212
$6,039,740
+27%
Net income
2023
2024
Change
Net income
+$1,929,615
+$3,212,920
+67%
Functional Expenses
Summary
2023
2024
Change
Program
$3,175,031
$4,472,504
+41%
Admin
$1,125,598
$1,130,973
+0%
Fundraising
$436,583
$436,263
0%
Total Expenses
$4,737,212
$6,039,740
+27%
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