ROCKFORD UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$45,836,998
Program Services
87%
Government Grants
5%
Contributions
5%
Other
2%
Investments
1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$43,902,307
Grants
35%
Salaries & Benefits
33%
Other
16%
Offices, Occupancy & IT
10%
Depreciation
4%
Advertising & Promotion
<1%
Interest
<1%
Fees to Service Providers
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$4,552,504
$2,103,104
-54%
Government Grants
$1,696,876
$2,504,194
+48%
Fundraising Events
$15,050
$157,813
+949%
Program Services
$36,813,838
$39,778,164
+8%
Membership Dues
$0
$0
-
Investments
$388,793
$552,269
+42%
Other
$251,693
$741,454
+195%
Total Revenues
$43,718,754
$45,836,998
+5%
Expenses
2023
2024
Change
Grants
$13,701,565
$15,152,282
+11%
Benefits to Members
$0
$0
-
Salaries & Benefits
$13,863,901
$14,434,687
+4%
Fees to Service Providers
$2,681,186
$191,818
-93%
Advertising & Promotion
$294,976
$367,205
+24%
Offices, Occupancy & IT
$4,560,211
$4,445,411
-3%
Interest
$306,328
$282,778
-8%
Depreciation
$1,810,656
$1,820,893
+1%
Other
$4,067,699
$7,207,233
+77%
Total Expenses
$41,286,522
$43,902,307
+6%
Net income
2023
2024
Change
Net income
+$2,432,232
+$1,934,691
-20%
Functional Expenses
Summary
2023
2024
Change
Program
$38,754,249
$41,546,428
+7%
Admin
$1,937,869
$1,727,712
-11%
Fundraising
$594,404
$628,167
+6%
Total Expenses
$41,286,522
$43,902,307
+6%
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