MERCYHURST UNIVERSITY
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$146,858,763
Program Services
85%
Government Grants
11%
Contributions
2%
Investments
1%
Other
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$155,032,916
Grants
38%
Salaries & Benefits
24%
Fees to Service Providers
12%
Other
11%
Offices, Occupancy & IT
9%
Depreciation
4%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$1,911,693
$2,496,636
+31%
Government Grants
$14,046,012
$16,824,947
+20%
Fundraising Events
$3,792
$12,338
+225%
Program Services
$127,164,278
$124,667,648
-2%
Membership Dues
$0
$0
-
Investments
$1,388,766
$1,661,013
+20%
Other
$4,822,818
$1,196,181
-75%
Total Revenues
$149,337,359
$146,858,763
-2%
Expenses
2023
2024
Change
Grants
$58,923,743
$58,919,737
0%
Benefits to Members
$0
$0
-
Salaries & Benefits
$38,674,249
$36,447,907
-6%
Fees to Service Providers
$15,402,842
$18,172,633
+18%
Advertising & Promotion
$657,779
$557,795
-15%
Offices, Occupancy & IT
$13,459,698
$14,462,926
+7%
Interest
$3,403,226
$3,448,009
+1%
Depreciation
$6,149,528
$6,138,188
0%
Other
$14,868,883
$16,885,721
+14%
Total Expenses
$151,539,948
$155,032,916
+2%
Net income
2023
2024
Change
Net income
-$2,202,589
-$8,174,153
-271%
Functional Expenses
Summary
2023
2024
Change
Program
$142,555,024
$144,275,306
+1%
Admin
$8,012,853
$9,625,217
+20%
Fundraising
$972,071
$1,132,393
+16%
Total Expenses
$151,539,948
$155,032,916
+2%
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