ALVERNO COLLEGE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$42,474,928
Program Services
85%
Contributions
7%
Government Grants
4%
Investments
2%
Other
2%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$53,802,253
Salaries & Benefits
42%
Grants
24%
Fees to Service Providers
11%
Offices, Occupancy & IT
10%
Depreciation
7%
Other
3%
Interest
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,130,331
$2,851,860
-9%
Government Grants
$2,589,450
$1,552,793
-40%
Fundraising Events
$0
$0
-
Program Services
$35,227,517
$36,270,637
+3%
Membership Dues
$0
$0
-
Investments
$1,172,344
$911,738
-22%
Other
-$559,261
$887,900
-259%
Total Revenues
$41,560,381
$42,474,928
+2%
Expenses
2023
2024
Change
Grants
$11,291,845
$13,042,070
+15%
Benefits to Members
$0
$0
-
Salaries & Benefits
$23,706,074
$22,724,917
-4%
Fees to Service Providers
$5,400,887
$6,175,662
+14%
Advertising & Promotion
$780,987
$350,927
-55%
Offices, Occupancy & IT
$8,056,242
$5,598,443
-31%
Interest
$679,220
$660,419
-3%
Depreciation
$4,001,259
$3,688,105
-8%
Other
$1,182,379
$1,561,710
+32%
Total Expenses
$55,098,893
$53,802,253
-2%
Net income
2023
2024
Change
Net income
-$13,538,512
-$11,327,325
+16%
Functional Expenses
Summary
2023
2024
Change
Program
$48,832,268
$49,057,895
+0%
Admin
$5,381,864
$3,894,678
-28%
Fundraising
$884,761
$849,680
-4%
Total Expenses
$55,098,893
$53,802,253
-2%
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