Tiffin University
Income Statement
Fiscal Year Start:
May 1
Revenues in 2024
$74,712,619
Program Services
92%
Other
3%
Contributions
2%
Government Grants
2%
Investments
2%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$72,869,349
Grants
36%
Salaries & Benefits
32%
Offices, Occupancy & IT
9%
Other
6%
Fees to Service Providers
5%
Depreciation
5%
Advertising & Promotion
5%
Interest
2%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$2,600,235
$1,603,082
-38%
Government Grants
$7,260,144
$1,317,539
-82%
Fundraising Events
$65,150
$65,900
+1%
Program Services
$61,504,273
$68,625,013
+12%
Membership Dues
$0
$0
-
Investments
$934,357
$1,160,347
+24%
Other
$1,347,385
$1,940,738
+44%
Total Revenues
$73,711,544
$74,712,619
+1%
Expenses
2023
2024
Change
Grants
$25,202,773
$26,417,775
+5%
Benefits to Members
$0
$0
-
Salaries & Benefits
$23,252,975
$23,585,589
+1%
Fees to Service Providers
$2,756,682
$3,619,063
+31%
Advertising & Promotion
$2,562,958
$3,281,272
+28%
Offices, Occupancy & IT
$6,954,680
$6,728,178
-3%
Interest
$1,249,320
$1,215,377
-3%
Depreciation
$3,532,127
$3,543,413
+0%
Other
$5,106,356
$4,478,682
-12%
Total Expenses
$70,617,871
$72,869,349
+3%
Net income
2023
2024
Change
Net income
+$3,093,673
+$1,843,270
-40%
Functional Expenses
Summary
2023
2024
Change
Program
$63,347,554
$65,743,212
+4%
Admin
$6,195,836
$5,902,398
-5%
Fundraising
$1,074,481
$1,223,739
+14%
Total Expenses
$70,617,871
$72,869,349
+3%
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