UNIVERSITY OF RICHMOND
UNIVERSITY OF RICHMOND
UNIVERSITY OF RICHMOND
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$498,322,761
Program Services
51%
Investments
36%
Other
7%
Contributions
5%
Government Grants
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$475,875,875
Salaries & Benefits
48%
Grants
22%
Other
8%
Depreciation
8%
Offices, Occupancy & IT
7%
Fees to Service Providers
5%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$22,836,158
$27,200,995
+19%
Government Grants
$2,877,012
$3,184,870
+11%
Fundraising Events
$0
$0
-
Program Services
$244,827,303
$253,175,630
+3%
Membership Dues
$0
$0
-
Investments
$162,140,518
$181,643,785
+12%
Other
$38,630,552
$33,117,481
-14%
Total Revenues
$471,311,543
$498,322,761
+6%
Expenses
2023
2024
Change
Grants
$99,255,866
$103,745,844
+5%
Benefits to Members
$0
$0
-
Salaries & Benefits
$223,070,275
$230,101,030
+3%
Fees to Service Providers
$22,074,256
$24,915,088
+13%
Advertising & Promotion
$2,538,084
$2,217,715
-13%
Offices, Occupancy & IT
$25,712,319
$32,571,393
+27%
Interest
$9,268,625
$10,592,811
+14%
Depreciation
$35,181,357
$35,699,686
+1%
Other
$42,512,043
$36,032,308
-15%
Total Expenses
$459,612,825
$475,875,875
+4%
Net income
2023
2024
Change
Net income
+$11,698,718
+$22,446,886
+92%
Functional Expenses
Summary
2023
2024
Change
Program
$368,462,503
$398,404,843
+8%
Admin
$77,279,449
$59,616,787
-23%
Fundraising
$13,870,873
$17,854,245
+29%
Total Expenses
$459,612,825
$475,875,875
+4%
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