LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$222,063,231
Program Services
76%
Investments
10%
Other
7%
Government Grants
7%
Contributions
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$126,590,457
Salaries & Benefits
44%
Other
24%
Offices, Occupancy & IT
9%
Depreciation
8%
Fees to Service Providers
7%
Advertising & Promotion
5%
Grants
2%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$339,224
$2,086,089
+515%
Government Grants
$15,273,870
$14,445,602
-5%
Fundraising Events
$1,793,582
$907,045
-49%
Program Services
$158,408,916
$167,791,620
+6%
Membership Dues
$0
$0
-
Investments
$16,061,556
$22,180,135
+38%
Other
$9,655,354
$14,652,740
+52%
Total Revenues
$201,532,502
$222,063,231
+10%
Expenses
2023
2024
Change
Grants
$2,634,776
$2,829,933
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$50,056,914
$55,595,893
+11%
Fees to Service Providers
$8,603,068
$8,842,653
+3%
Advertising & Promotion
$6,424,245
$6,736,372
+5%
Offices, Occupancy & IT
$11,595,925
$11,694,105
+1%
Interest
$818,074
$1,193,637
+46%
Depreciation
$9,929,428
$9,821,564
-1%
Other
$31,171,366
$29,876,300
-4%
Total Expenses
$121,233,796
$126,590,457
+4%
Net income
2023
2024
Change
Net income
+$80,298,706
+$95,472,774
+19%
Functional Expenses
Summary
2023
2024
Change
Program
$93,894,307
$98,401,634
+5%
Admin
$27,339,489
$28,188,823
+3%
Fundraising
$0
$0
-
Total Expenses
$121,233,796
$126,590,457
+4%
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