MINERVA UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$33,041,714
Program Services
60%
Contributions
38%
Investments
2%
Other
<1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$41,574,337
Salaries & Benefits
41%
Grants
22%
Offices, Occupancy & IT
21%
Fees to Service Providers
6%
Other
5%
Advertising & Promotion
3%
Depreciation
2%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$32,826,522
$12,524,187
-62%
Government Grants
$213,322
$0
-100%
Fundraising Events
$0
$0
-
Program Services
$16,391,320
$19,861,267
+21%
Membership Dues
$0
$0
-
Investments
$302,646
$612,515
+102%
Other
$29,161
$43,745
+50%
Total Revenues
$49,762,971
$33,041,714
-34%
Expenses
2023
2024
Change
Grants
$7,580,858
$9,349,582
+23%
Benefits to Members
$0
$0
-
Salaries & Benefits
$15,031,352
$16,881,050
+12%
Fees to Service Providers
$1,738,606
$2,404,618
+38%
Advertising & Promotion
$694,507
$1,272,821
+83%
Offices, Occupancy & IT
$5,039,373
$8,896,094
+77%
Interest
$0
$0
-
Depreciation
$172,120
$882,811
+413%
Other
$1,766,982
$1,887,361
+7%
Total Expenses
$32,023,798
$41,574,337
+30%
Net income
2023
2024
Change
Net income
+$17,739,173
-$8,532,623
-148%
Functional Expenses
Summary
2023
2024
Change
Program
$27,504,916
$37,614,225
+37%
Admin
$4,345,465
$3,778,493
-13%
Fundraising
$173,417
$181,619
+5%
Total Expenses
$32,023,798
$41,574,337
+30%
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