University of Mount Olive Inc
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$50,616,977
Program Services
86%
Contributions
9%
Investments
3%
Government Grants
2%
Fundraising Events
<1%
Other
<1%
Membership Dues
0%
Expenses in 2024
$49,017,880
Salaries & Benefits
37%
Grants
26%
Other
19%
Offices, Occupancy & IT
6%
Fees to Service Providers
5%
Depreciation
4%
Advertising & Promotion
3%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,683,441
$4,685,604
-18%
Government Grants
$2,219,676
$879,777
-60%
Fundraising Events
$115,066
$146,585
+27%
Program Services
$40,373,073
$43,362,177
+7%
Membership Dues
$0
$0
-
Investments
$1,339,106
$1,491,060
+11%
Other
$659,412
$51,774
-92%
Total Revenues
$50,389,774
$50,616,977
+0%
Expenses
2023
2024
Change
Grants
$12,284,146
$12,746,030
+4%
Benefits to Members
$0
$0
-
Salaries & Benefits
$18,197,400
$17,992,759
-1%
Fees to Service Providers
$1,998,020
$2,375,007
+19%
Advertising & Promotion
$1,132,545
$1,338,093
+18%
Offices, Occupancy & IT
$1,907,026
$2,838,084
+49%
Interest
$504,486
$283,071
-44%
Depreciation
$1,898,763
$2,048,558
+8%
Other
$9,186,513
$9,396,278
+2%
Total Expenses
$47,108,899
$49,017,880
+4%
Net income
2023
2024
Change
Net income
+$3,280,875
+$1,599,097
-51%
Functional Expenses
Summary
2023
2024
Change
Program
$39,363,014
$39,302,326
0%
Admin
$7,338,787
$8,974,259
+22%
Fundraising
$407,098
$741,295
+82%
Total Expenses
$47,108,899
$49,017,880
+4%
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