UNIVERSITY OF LYNCHBURG
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$108,466,703
Program Services
85%
Other
7%
Contributions
5%
Investments
2%
Government Grants
1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$112,240,024
Salaries & Benefits
44%
Grants
28%
Other
10%
Offices, Occupancy & IT
8%
Depreciation
5%
Interest
2%
Fees to Service Providers
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,287,702
$4,884,785
-8%
Government Grants
$1,394,594
$1,323,169
-5%
Fundraising Events
$0
$22,550
-
Program Services
$85,150,256
$92,606,205
+9%
Membership Dues
$0
$0
-
Investments
$1,074,046
$2,085,411
+94%
Other
$896,641
$7,544,583
+741%
Total Revenues
$93,803,239
$108,466,703
+16%
Expenses
2023
2024
Change
Grants
$27,252,711
$31,832,027
+17%
Benefits to Members
$0
$0
-
Salaries & Benefits
$48,739,868
$49,151,438
+1%
Fees to Service Providers
$3,484,680
$1,669,623
-52%
Advertising & Promotion
$277,759
$985,272
+255%
Offices, Occupancy & IT
$8,416,621
$9,190,389
+9%
Interest
$2,505,970
$2,529,746
+1%
Depreciation
$5,890,703
$6,133,822
+4%
Other
$8,109,314
$10,747,707
+33%
Total Expenses
$104,677,626
$112,240,024
+7%
Net income
2023
2024
Change
Net income
-$10,874,387
-$3,773,321
+65%
Functional Expenses
Summary
2023
2024
Change
Program
$86,815,922
$98,211,202
+13%
Admin
$15,795,737
$12,396,041
-22%
Fundraising
$2,065,967
$1,632,781
-21%
Total Expenses
$104,677,626
$112,240,024
+7%
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