PENNSYLVANIA INSTITUTE OF TECHNOLOGY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$14,079,332
Program Services
91%
Government Grants
4%
Investments
3%
Contributions
2%
Other
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$11,544,605
Salaries & Benefits
68%
Other
13%
Offices, Occupancy & IT
8%
Fees to Service Providers
4%
Depreciation
3%
Advertising & Promotion
2%
Grants
2%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$168,834
$215,007
+27%
Government Grants
$869,869
$580,227
-33%
Fundraising Events
$0
$0
-
Program Services
$12,057,606
$12,850,622
+7%
Membership Dues
$0
$0
-
Investments
$173,483
$414,829
+139%
Other
-$5,602
$18,647
-433%
Total Revenues
$13,264,190
$14,079,332
+6%
Expenses
2023
2024
Change
Grants
$94,087
$179,766
+91%
Benefits to Members
$0
$0
-
Salaries & Benefits
$7,057,703
$7,814,676
+11%
Fees to Service Providers
$459,705
$495,160
+8%
Advertising & Promotion
$262,419
$259,083
-1%
Offices, Occupancy & IT
$1,040,009
$962,302
-7%
Interest
$0
$0
-
Depreciation
$334,817
$290,751
-13%
Other
$1,704,723
$1,542,867
-9%
Total Expenses
$10,953,463
$11,544,605
+5%
Net income
2023
2024
Change
Net income
+$2,310,727
+$2,534,727
+10%
Functional Expenses
Summary
2023
2024
Change
Program
$8,183,666
$8,762,910
+7%
Admin
$2,582,077
$2,584,564
+0%
Fundraising
$187,720
$197,131
+5%
Total Expenses
$10,953,463
$11,544,605
+5%
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