STERLING COLLEGE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$21,642,605
Program Services
88%
Government Grants
11%
Investments
<1%
Other
<1%
Contributions
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$24,996,986
Grants
35%
Salaries & Benefits
30%
Other
21%
Offices, Occupancy & IT
7%
Depreciation
4%
Interest
2%
Fees to Service Providers
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$2,639,260
$0
-100%
Government Grants
$2,416,289
$2,464,605
+2%
Fundraising Events
$0
$0
-
Program Services
$18,101,921
$18,966,970
+5%
Membership Dues
$0
$0
-
Investments
$199,680
$203,451
+2%
Other
-$129,393
$7,579
-106%
Total Revenues
$23,227,757
$21,642,605
-7%
Expenses
2023
2024
Change
Grants
$8,617,552
$8,719,772
+1%
Benefits to Members
$0
$0
-
Salaries & Benefits
$7,464,145
$7,538,207
+1%
Fees to Service Providers
$185,891
$147,651
-21%
Advertising & Promotion
$78,818
$78,366
-1%
Offices, Occupancy & IT
$1,867,324
$1,837,595
-2%
Interest
$448,556
$396,264
-12%
Depreciation
$959,934
$964,823
+1%
Other
$4,224,711
$5,314,308
+26%
Total Expenses
$23,846,931
$24,996,986
+5%
Net income
2023
2024
Change
Net income
-$619,174
-$3,354,381
-442%
Functional Expenses
Summary
2023
2024
Change
Program
$21,008,720
$21,272,181
+1%
Admin
$2,492,724
$3,265,880
+31%
Fundraising
$345,487
$458,925
+33%
Total Expenses
$23,846,931
$24,996,986
+5%
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