FERRUM COLLEGE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$43,150,167
Program Services
85%
Contributions
6%
Investments
5%
Other
3%
Government Grants
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$47,747,076
Grants
40%
Salaries & Benefits
30%
Other
14%
Offices, Occupancy & IT
11%
Depreciation
4%
Fees to Service Providers
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$4,093,815
$2,443,902
-40%
Government Grants
$686,891
$370,512
-46%
Fundraising Events
$5,079
$16,952
+234%
Program Services
$36,923,395
$36,863,697
0%
Membership Dues
$0
$0
-
Investments
$927,807
$2,130,377
+130%
Other
$849,321
$1,324,727
+56%
Total Revenues
$43,486,308
$43,150,167
-1%
Expenses
2023
2024
Change
Grants
$17,927,398
$18,894,999
+5%
Benefits to Members
$0
$0
-
Salaries & Benefits
$15,106,862
$14,389,773
-5%
Fees to Service Providers
$1,381,724
$634,333
-54%
Advertising & Promotion
$30,505
$59,790
+96%
Offices, Occupancy & IT
$5,229,740
$5,222,528
0%
Interest
$0
$0
-
Depreciation
$2,049,435
$2,064,373
+1%
Other
$6,701,106
$6,481,280
-3%
Total Expenses
$48,426,770
$47,747,076
-1%
Net income
2023
2024
Change
Net income
-$4,940,462
-$4,596,909
+7%
Functional Expenses
Summary
2023
2024
Change
Program
$41,915,723
$42,173,197
+1%
Admin
$5,853,526
$5,086,759
-13%
Fundraising
$657,521
$487,120
-26%
Total Expenses
$48,426,770
$47,747,076
-1%
Copyright 2026. All rights reserved to Chario Inc. (d.b.a. Impala)