Benedict College
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2023
$69,692,337
Program Services
65%
Government Grants
28%
Contributions
5%
Investments
1%
Other
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2023
$65,404,239
Salaries & Benefits
32%
Other
24%
Grants
23%
Depreciation
10%
Fees to Service Providers
5%
Interest
3%
Offices, Occupancy & IT
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2022
2023
Change
Contributions
$3,490,710
$3,621,693
+4%
Government Grants
$22,353,847
$19,666,676
-12%
Fundraising Events
$0
$0
-
Program Services
$42,959,951
$45,273,783
+5%
Membership Dues
$0
$0
-
Investments
$407,752
$967,437
+137%
Other
$3,114,726
$162,748
-95%
Total Revenues
$72,326,986
$69,692,337
-4%
Expenses
2022
2023
Change
Grants
$23,744,431
$15,311,739
-36%
Benefits to Members
$0
$0
-
Salaries & Benefits
$19,803,549
$20,651,334
+4%
Fees to Service Providers
$4,615,893
$3,509,037
-24%
Advertising & Promotion
$135,096
$127,418
-6%
Offices, Occupancy & IT
$1,219,552
$1,354,145
+11%
Interest
$1,873,114
$1,838,619
-2%
Depreciation
$5,669,652
$6,595,979
+16%
Other
$10,969,319
$16,015,968
+46%
Total Expenses
$68,030,606
$65,404,239
-4%
Net income
2022
2023
Change
Net income
+$4,296,380
+$4,288,098
0%
Functional Expenses
Summary
2022
2023
Change
Program
$53,246,043
$45,571,194
-14%
Admin
$14,784,563
$19,833,045
+34%
Fundraising
$0
$0
-
Total Expenses
$68,030,606
$65,404,239
-4%
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