WOFFORD COLLEGE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$171,362,354
Program Services
74%
Contributions
12%
Other
9%
Investments
5%
Government Grants
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$157,540,405
Grants
39%
Salaries & Benefits
30%
Other
11%
Offices, Occupancy & IT
7%
Depreciation
7%
Fees to Service Providers
3%
Interest
2%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$13,538,289
$20,023,759
+48%
Government Grants
$256,908
$303,032
+18%
Fundraising Events
$83,076
$60,007
-28%
Program Services
$119,618,510
$127,592,049
+7%
Membership Dues
$0
$0
-
Investments
$5,549,952
$7,874,096
+42%
Other
-$595,592
$15,509,411
-2704%
Total Revenues
$138,451,143
$171,362,354
+24%
Expenses
2023
2024
Change
Grants
$55,501,958
$61,785,817
+11%
Benefits to Members
$0
$0
-
Salaries & Benefits
$46,120,678
$47,639,359
+3%
Fees to Service Providers
$4,362,473
$4,688,577
+7%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$11,899,446
$11,590,068
-3%
Interest
$2,198,159
$3,202,243
+46%
Depreciation
$10,504,182
$10,877,546
+4%
Other
$16,454,576
$17,756,795
+8%
Total Expenses
$147,041,472
$157,540,405
+7%
Net income
2023
2024
Change
Net income
-$8,590,329
+$13,821,949
-261%
Functional Expenses
Summary
2023
2024
Change
Program
$132,914,504
$142,498,119
+7%
Admin
$11,278,893
$12,768,889
+13%
Fundraising
$2,848,075
$2,273,397
-20%
Total Expenses
$147,041,472
$157,540,405
+7%
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