Northwood University
Northwood University
Northwood University
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$83,349,419
Program Services
76%
Contributions
13%
Other
6%
Investments
4%
Government Grants
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$76,125,930
Salaries & Benefits
38%
Other
25%
Grants
25%
Depreciation
7%
Offices, Occupancy & IT
3%
Advertising & Promotion
1%
Fees to Service Providers
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$28,077,297
$11,036,728
-61%
Government Grants
$3,714,324
$435,435
-88%
Fundraising Events
$245,703
$275,162
+12%
Program Services
$58,176,622
$63,138,247
+9%
Membership Dues
$0
$0
-
Investments
$2,922,244
$3,224,863
+10%
Other
$4,832,766
$5,238,984
+8%
Total Revenues
$97,968,956
$83,349,419
-15%
Expenses
2023
2024
Change
Grants
$17,446,405
$18,685,306
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$26,691,300
$29,204,507
+9%
Fees to Service Providers
$232,254
$166,252
-28%
Advertising & Promotion
$785,490
$845,305
+8%
Offices, Occupancy & IT
$2,649,657
$2,539,760
-4%
Interest
$0
$0
-
Depreciation
$5,152,154
$5,705,072
+11%
Other
$17,082,524
$18,979,728
+11%
Total Expenses
$70,039,784
$76,125,930
+9%
Net income
2023
2024
Change
Net income
+$27,929,172
+$7,223,489
-74%
Functional Expenses
Summary
2023
2024
Change
Program
$54,723,348
$59,372,549
+8%
Admin
$11,829,548
$12,905,344
+9%
Fundraising
$3,486,888
$3,848,037
+10%
Total Expenses
$70,039,784
$76,125,930
+9%
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