LAKELAND UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$49,363,707
Program Services
76%
Contributions
9%
Government Grants
8%
Other
6%
Investments
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$51,236,175
Salaries & Benefits
37%
Grants
27%
Other
10%
Depreciation
8%
Fees to Service Providers
7%
Offices, Occupancy & IT
7%
Interest
2%
Advertising & Promotion
2%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,049,592
$4,327,413
+42%
Government Grants
$101,335
$4,100,982
+3947%
Fundraising Events
$25,900
$21,185
-18%
Program Services
$37,447,598
$37,736,104
+1%
Membership Dues
$0
$0
-
Investments
$156,236
$152,840
-2%
Other
$2,701,259
$3,025,183
+12%
Total Revenues
$43,481,920
$49,363,707
+14%
Expenses
2023
2024
Change
Grants
$13,633,599
$13,974,042
+2%
Benefits to Members
$0
$0
-
Salaries & Benefits
$19,679,008
$18,773,724
-5%
Fees to Service Providers
$2,062,442
$3,679,138
+78%
Advertising & Promotion
$906,442
$811,376
-10%
Offices, Occupancy & IT
$3,811,970
$3,530,356
-7%
Interest
$1,127,452
$1,021,646
-9%
Depreciation
$4,075,199
$4,077,387
+0%
Other
$5,739,940
$5,368,506
-6%
Total Expenses
$51,036,052
$51,236,175
+0%
Net income
2023
2024
Change
Net income
-$7,554,132
-$1,872,468
+75%
Functional Expenses
Summary
2023
2024
Change
Program
$46,635,193
$44,885,458
-4%
Admin
$3,933,869
$6,030,587
+53%
Fundraising
$466,990
$320,130
-31%
Total Expenses
$51,036,052
$51,236,175
+0%
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