Lake Forest College
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$141,545,403
Program Services
81%
Contributions
15%
Other
3%
Government Grants
<1%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$144,507,496
Grants
50%
Salaries & Benefits
25%
Offices, Occupancy & IT
8%
Fees to Service Providers
8%
Depreciation
5%
Other
3%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$29,209,445
$21,608,287
-26%
Government Grants
$1,364,685
$1,002,218
-27%
Fundraising Events
$0
$0
-
Program Services
$108,498,403
$114,819,018
+6%
Membership Dues
$0
$0
-
Investments
$163,576
$66,781
-59%
Other
$1,265,015
$4,049,099
+220%
Total Revenues
$140,501,124
$141,545,403
+1%
Expenses
2023
2024
Change
Grants
$66,135,576
$72,158,053
+9%
Benefits to Members
$0
$0
-
Salaries & Benefits
$35,510,946
$35,944,995
+1%
Fees to Service Providers
$10,295,189
$11,053,276
+7%
Advertising & Promotion
$271,487
$182,933
-33%
Offices, Occupancy & IT
$7,281,077
$11,521,563
+58%
Interest
$2,511,297
$2,524,090
+1%
Depreciation
$6,748,540
$7,159,759
+6%
Other
$5,184,729
$3,962,827
-24%
Total Expenses
$133,938,841
$144,507,496
+8%
Net income
2023
2024
Change
Net income
+$6,562,283
-$2,962,093
-145%
Functional Expenses
Summary
2023
2024
Change
Program
$118,469,266
$129,486,328
+9%
Admin
$13,691,340
$13,115,335
-4%
Fundraising
$1,778,235
$1,905,833
+7%
Total Expenses
$133,938,841
$144,507,496
+8%
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