VIRGINIA WESLEYAN UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$85,908,965
Program Services
63%
Contributions
32%
Other
2%
Investments
2%
Government Grants
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$72,442,976
Grants
35%
Salaries & Benefits
30%
Other
18%
Offices, Occupancy & IT
8%
Depreciation
7%
Interest
1%
Fees to Service Providers
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$19,165,317
$27,903,043
+46%
Government Grants
$5,219,524
$275,441
-95%
Fundraising Events
$0
$0
-
Program Services
$50,701,118
$54,083,137
+7%
Membership Dues
$0
$0
-
Investments
$1,829,662
$1,670,095
-9%
Other
-$2,591,049
$1,977,249
-176%
Total Revenues
$74,324,572
$85,908,965
+16%
Expenses
2023
2024
Change
Grants
$24,233,305
$25,614,834
+6%
Benefits to Members
$0
$0
-
Salaries & Benefits
$21,569,648
$21,947,285
+2%
Fees to Service Providers
$370,571
$453,268
+22%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$5,277,135
$5,670,965
+7%
Interest
$981,702
$968,832
-1%
Depreciation
$4,826,451
$4,797,309
-1%
Other
$10,376,804
$12,990,483
+25%
Total Expenses
$67,635,616
$72,442,976
+7%
Net income
2023
2024
Change
Net income
+$6,688,956
+$13,465,989
+101%
Functional Expenses
Summary
2023
2024
Change
Program
$51,021,461
$52,575,774
+3%
Admin
$15,849,633
$19,131,062
+21%
Fundraising
$764,522
$736,140
-4%
Total Expenses
$67,635,616
$72,442,976
+7%
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