CALVIN UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$184,861,512
Program Services
76%
Contributions
12%
Government Grants
7%
Investments
5%
Other
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$198,033,650
Salaries & Benefits
35%
Grants
34%
Offices, Occupancy & IT
10%
Other
10%
Fees to Service Providers
5%
Depreciation
5%
Advertising & Promotion
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$39,800,572
$21,435,226
-46%
Government Grants
$9,986,000
$12,705,344
+27%
Fundraising Events
$99,875
$100,500
+1%
Program Services
$132,781,128
$140,930,861
+6%
Membership Dues
$0
$0
-
Investments
$8,082,117
$9,557,385
+18%
Other
$117,971
$132,196
+12%
Total Revenues
$190,867,663
$184,861,512
-3%
Expenses
2023
2024
Change
Grants
$63,368,834
$68,109,216
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$63,498,570
$69,766,404
+10%
Fees to Service Providers
$9,425,657
$9,807,831
+4%
Advertising & Promotion
$1,621,623
$1,614,567
0%
Offices, Occupancy & IT
$18,497,209
$20,178,339
+9%
Interest
$0
$0
-
Depreciation
$7,981,301
$8,930,476
+12%
Other
$15,646,456
$19,626,817
+25%
Total Expenses
$180,039,650
$198,033,650
+10%
Net income
2023
2024
Change
Net income
+$10,828,013
-$13,172,138
-222%
Functional Expenses
Summary
2023
2024
Change
Program
$170,441,104
$188,433,065
+11%
Admin
$6,454,528
$5,541,168
-14%
Fundraising
$3,144,018
$4,059,417
+29%
Total Expenses
$180,039,650
$198,033,650
+10%
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