MARS HILL UNIVERSITY
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$51,610,623
Program Services
87%
Contributions
7%
Other
2%
Government Grants
2%
Investments
2%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$57,669,419
Grants
43%
Salaries & Benefits
27%
Other
17%
Fees to Service Providers
5%
Offices, Occupancy & IT
5%
Interest
3%
Advertising & Promotion
<1%
Benefits to Members
0%
Depreciation
0%
Revenues
2023
2024
Change
Contributions
$5,720,503
$3,421,443
-40%
Government Grants
$2,247,950
$980,866
-56%
Fundraising Events
$263,027
$432,147
+64%
Program Services
$40,916,162
$44,846,058
+10%
Membership Dues
$0
$0
-
Investments
$380,519
$809,739
+113%
Other
$2,489,937
$1,120,370
-55%
Total Revenues
$52,018,098
$51,610,623
-1%
Expenses
2023
2024
Change
Grants
$21,640,386
$24,829,361
+15%
Benefits to Members
$0
$0
-
Salaries & Benefits
$15,396,098
$15,307,436
-1%
Fees to Service Providers
$2,787,384
$3,066,435
+10%
Advertising & Promotion
$126,290
$158,440
+25%
Offices, Occupancy & IT
$3,054,066
$2,812,809
-8%
Interest
$1,357,064
$1,457,096
+7%
Depreciation
$2,586,486
$0
-100%
Other
$7,797,049
$10,037,842
+29%
Total Expenses
$54,744,823
$57,669,419
+5%
Net income
2023
2024
Change
Net income
-$2,726,725
-$6,058,796
-122%
Functional Expenses
Summary
2023
2024
Change
Program
$42,660,481
$46,500,495
+9%
Admin
$10,953,240
$10,173,241
-7%
Fundraising
$1,131,102
$995,683
-12%
Total Expenses
$54,744,823
$57,669,419
+5%
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