FURMAN UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$288,883,583
Program Services
64%
Other
16%
Contributions
14%
Investments
6%
Government Grants
1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$270,132,887
Salaries & Benefits
34%
Grants
32%
Other
18%
Depreciation
5%
Offices, Occupancy & IT
4%
Fees to Service Providers
4%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$24,229,537
$39,960,489
+65%
Government Grants
$3,827,251
$3,494,772
-9%
Fundraising Events
$13,500
$17,470
+29%
Program Services
$172,953,629
$184,035,811
+6%
Membership Dues
$0
$0
-
Investments
$16,491,033
$16,285,764
-1%
Other
$5,679,448
$45,089,277
+694%
Total Revenues
$223,194,398
$288,883,583
+29%
Expenses
2023
2024
Change
Grants
$78,073,353
$85,801,841
+10%
Benefits to Members
$0
$0
-
Salaries & Benefits
$88,202,380
$92,832,745
+5%
Fees to Service Providers
$12,747,839
$10,615,694
-17%
Advertising & Promotion
$1,211,783
$952,191
-21%
Offices, Occupancy & IT
$11,257,850
$12,142,124
+8%
Interest
$5,011,781
$4,735,540
-6%
Depreciation
$14,028,810
$14,310,742
+2%
Other
$45,539,345
$48,742,010
+7%
Total Expenses
$256,073,141
$270,132,887
+5%
Net income
2023
2024
Change
Net income
-$32,878,743
+$18,750,696
-157%
Functional Expenses
Summary
2023
2024
Change
Program
$226,025,747
$240,675,616
+6%
Admin
$23,952,548
$23,702,489
-1%
Fundraising
$6,094,846
$5,754,782
-6%
Total Expenses
$256,073,141
$270,132,887
+5%
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