FRANKLIN UNIVERSITY
Income Statement
Fiscal Year Start:
Aug 1
Revenues in 2024
$94,699,869
Program Services
91%
Other
6%
Investments
2%
Contributions
<1%
Government Grants
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$89,156,450
Salaries & Benefits
61%
Grants
15%
Advertising & Promotion
8%
Offices, Occupancy & IT
7%
Fees to Service Providers
4%
Other
3%
Depreciation
2%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$844,201
$653,207
-23%
Government Grants
$1,043,857
$468,690
-55%
Fundraising Events
$0
$0
-
Program Services
$80,792,308
$85,911,440
+6%
Membership Dues
$0
$0
-
Investments
$2,394,238
$2,311,778
-3%
Other
$2,578,587
$5,354,754
+108%
Total Revenues
$87,653,191
$94,699,869
+8%
Expenses
2023
2024
Change
Grants
$16,175,263
$13,117,951
-19%
Benefits to Members
$0
$0
-
Salaries & Benefits
$50,499,693
$54,360,597
+8%
Fees to Service Providers
$4,201,311
$3,472,005
-17%
Advertising & Promotion
$6,995,736
$7,329,309
+5%
Offices, Occupancy & IT
$6,021,385
$6,210,618
+3%
Interest
$467,049
$621,896
+33%
Depreciation
$1,854,795
$1,712,849
-8%
Other
$2,268,999
$2,331,225
+3%
Total Expenses
$88,484,231
$89,156,450
+1%
Net income
2023
2024
Change
Net income
-$831,040
+$5,543,419
-767%
Functional Expenses
Summary
2023
2024
Change
Program
$74,841,540
$75,543,339
+1%
Admin
$13,506,869
$13,471,045
0%
Fundraising
$135,822
$142,066
+5%
Total Expenses
$88,484,231
$89,156,450
+1%
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