Spelman College
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$288,422,165
Contributions
42%
Program Services
39%
Other
11%
Government Grants
5%
Investments
4%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$171,469,550
Salaries & Benefits
51%
Other
19%
Grants
17%
Offices, Occupancy & IT
5%
Fees to Service Providers
3%
Depreciation
3%
Interest
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$54,841,797
$120,423,657
+120%
Government Grants
$12,779,622
$14,480,383
+13%
Fundraising Events
$0
$0
-
Program Services
$99,612,804
$111,199,806
+12%
Membership Dues
$0
$0
-
Investments
$3,991,632
$11,355,448
+184%
Other
$23,146,361
$30,962,871
+34%
Total Revenues
$194,372,216
$288,422,165
+48%
Expenses
2023
2024
Change
Grants
$25,021,007
$28,649,995
+15%
Benefits to Members
$0
$0
-
Salaries & Benefits
$69,684,195
$88,211,104
+27%
Fees to Service Providers
$18,424,692
$5,696,205
-69%
Advertising & Promotion
$409,831
$0
-100%
Offices, Occupancy & IT
$8,684,566
$9,189,186
+6%
Interest
$1,812,179
$1,681,002
-7%
Depreciation
$5,912,250
$5,192,092
-12%
Other
$30,861,469
$32,849,966
+6%
Total Expenses
$160,810,189
$171,469,550
+7%
Net income
2023
2024
Change
Net income
+$33,562,027
+$116,952,615
+248%
Functional Expenses
Summary
2023
2024
Change
Program
$126,897,268
$139,695,069
+10%
Admin
$26,947,128
$26,333,273
-2%
Fundraising
$6,965,793
$5,441,208
-22%
Total Expenses
$160,810,189
$171,469,550
+7%
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