THE UNIVERSITY OF THE ARTS
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2023
$100,269,395
Program Services
73%
Contributions
16%
Other
9%
Fundraising Events
<1%
Government Grants
<1%
Investments
<1%
Membership Dues
0%
Expenses in 2023
$106,360,536
Grants
40%
Salaries & Benefits
28%
Fees to Service Providers
14%
Other
5%
Depreciation
5%
Offices, Occupancy & IT
4%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2022
2023
Change
Contributions
$16,400,225
$16,027,248
-2%
Government Grants
$5,312,567
$549,241
-90%
Fundraising Events
$427,572
$720,499
+69%
Program Services
$84,153,796
$73,238,439
-13%
Membership Dues
$0
$0
-
Investments
$2,295,850
$235,795
-90%
Other
$1,480,954
$9,498,173
+541%
Total Revenues
$110,070,964
$100,269,395
-9%
Expenses
2022
2023
Change
Grants
$49,476,852
$43,014,289
-13%
Benefits to Members
$0
$0
-
Salaries & Benefits
$28,883,769
$29,941,172
+4%
Fees to Service Providers
$12,863,097
$15,077,827
+17%
Advertising & Promotion
$247,364
$251,138
+2%
Offices, Occupancy & IT
$5,237,325
$4,776,391
-9%
Interest
$2,432,838
$2,355,633
-3%
Depreciation
$5,057,828
$5,117,716
+1%
Other
$4,353,607
$5,826,370
+34%
Total Expenses
$108,552,680
$106,360,536
-2%
Net income
2022
2023
Change
Net income
+$1,518,284
-$6,091,141
-501%
Functional Expenses
Summary
2022
2023
Change
Program
$78,346,456
$75,884,125
-3%
Admin
$29,023,587
$29,296,387
+1%
Fundraising
$1,182,637
$1,180,024
0%
Total Expenses
$108,552,680
$106,360,536
-2%
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