LUTHER COLLEGE
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$132,162,013
Program Services
69%
Contributions
17%
Other
10%
Investments
4%
Government Grants
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$118,148,324
Grants
42%
Salaries & Benefits
31%
Other
15%
Offices, Occupancy & IT
4%
Depreciation
4%
Fees to Service Providers
2%
Interest
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$9,528,019
$22,134,789
+132%
Government Grants
$1,185,660
$1,224,756
+3%
Fundraising Events
$9,100
$52,450
+476%
Program Services
$94,629,525
$90,582,740
-4%
Membership Dues
$0
$0
-
Investments
$4,637,019
$4,636,485
0%
Other
$3,237,158
$13,530,793
+318%
Total Revenues
$113,226,481
$132,162,013
+17%
Expenses
2023
2024
Change
Grants
$51,226,844
$49,711,492
-3%
Benefits to Members
$0
$0
-
Salaries & Benefits
$37,315,708
$36,979,160
-1%
Fees to Service Providers
$2,611,345
$2,508,545
-4%
Advertising & Promotion
$96,526
$118,501
+23%
Offices, Occupancy & IT
$5,655,235
$5,310,393
-6%
Interest
$611,786
$514,332
-16%
Depreciation
$5,376,706
$5,269,933
-2%
Other
$17,492,564
$17,735,968
+1%
Total Expenses
$120,386,714
$118,148,324
-2%
Net income
2023
2024
Change
Net income
-$7,160,233
+$14,013,689
-296%
Functional Expenses
Summary
2023
2024
Change
Program
$108,156,220
$106,382,797
-2%
Admin
$8,448,102
$7,986,480
-5%
Fundraising
$3,782,392
$3,779,047
0%
Total Expenses
$120,386,714
$118,148,324
-2%
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