Lenoir-Rhyne University
Lenoir-Rhyne University
Lenoir-Rhyne University
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$83,689,011
Program Services
79%
Contributions
12%
Investments
7%
Other
2%
Government Grants
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$90,103,408
Salaries & Benefits
33%
Grants
30%
Fees to Service Providers
10%
Other
9%
Depreciation
8%
Offices, Occupancy & IT
6%
Interest
3%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$12,101,391
$9,768,976
-19%
Government Grants
$4,037,134
$451,861
-89%
Fundraising Events
$0
$0
-
Program Services
$77,374,110
$66,332,063
-14%
Membership Dues
$0
$0
-
Investments
$7,151,216
$5,595,059
-22%
Other
-$2,071,811
$1,541,052
-174%
Total Revenues
$98,592,040
$83,689,011
-15%
Expenses
2023
2024
Change
Grants
$38,182,163
$27,176,406
-29%
Benefits to Members
$0
$0
-
Salaries & Benefits
$28,881,688
$29,615,976
+3%
Fees to Service Providers
$10,121,837
$9,258,956
-9%
Advertising & Promotion
$278,387
$423,277
+52%
Offices, Occupancy & IT
$3,977,891
$5,684,095
+43%
Interest
$2,090,799
$3,032,762
+45%
Depreciation
$5,666,810
$6,882,113
+21%
Other
$10,820,440
$8,029,823
-26%
Total Expenses
$100,020,015
$90,103,408
-10%
Net income
2023
2024
Change
Net income
-$1,427,975
-$6,414,397
-349%
Functional Expenses
Summary
2023
2024
Change
Program
$70,391,844
$73,505,114
+4%
Admin
$26,893,838
$14,003,085
-48%
Fundraising
$2,734,333
$2,595,209
-5%
Total Expenses
$100,020,015
$90,103,408
-10%
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