Hanover College
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$78,898,162
Program Services
78%
Contributions
14%
Other
6%
Investments
1%
Government Grants
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$85,928,515
Grants
33%
Salaries & Benefits
29%
Other
13%
Fees to Service Providers
13%
Depreciation
5%
Offices, Occupancy & IT
5%
Interest
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$9,262,252
$11,355,028
+23%
Government Grants
$300,373
$331,126
+10%
Fundraising Events
$0
$0
-
Program Services
$54,985,564
$61,375,740
+12%
Membership Dues
$0
$0
-
Investments
$716,446
$944,773
+32%
Other
$5,307,531
$4,891,495
-8%
Total Revenues
$70,572,166
$78,898,162
+12%
Expenses
2023
2024
Change
Grants
$27,164,087
$28,394,655
+5%
Benefits to Members
$0
$0
-
Salaries & Benefits
$23,454,503
$25,076,814
+7%
Fees to Service Providers
$9,223,488
$10,989,347
+19%
Advertising & Promotion
$361,512
$413,985
+15%
Offices, Occupancy & IT
$4,839,268
$4,363,639
-10%
Interest
$930,123
$950,377
+2%
Depreciation
$4,299,908
$4,373,591
+2%
Other
$8,373,026
$11,366,107
+36%
Total Expenses
$78,645,915
$85,928,515
+9%
Net income
2023
2024
Change
Net income
-$8,073,749
-$7,030,353
+13%
Functional Expenses
Summary
2023
2024
Change
Program
$70,315,546
$77,473,529
+10%
Admin
$6,102,610
$6,269,512
+3%
Fundraising
$2,227,759
$2,185,474
-2%
Total Expenses
$78,645,915
$85,928,515
+9%
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