University of Miami
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$6,488,140,479
Program Services
81%
Government Grants
11%
Contributions
5%
Investments
2%
Other
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$5,986,905,330
Salaries & Benefits
48%
Other
23%
Grants
12%
Fees to Service Providers
8%
Offices, Occupancy & IT
4%
Depreciation
3%
Interest
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$284,393,656
$323,977,950
+14%
Government Grants
$649,880,504
$695,253,625
+7%
Fundraising Events
$975,090
$1,371,165
+41%
Program Services
$4,871,986,919
$5,286,112,903
+9%
Membership Dues
$0
$0
-
Investments
$98,165,701
$131,375,009
+34%
Other
$16,160,519
$50,049,827
+210%
Total Revenues
$5,921,562,389
$6,488,140,479
+10%
Expenses
2023
2024
Change
Grants
$695,411,265
$743,540,372
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,620,578,751
$2,870,571,262
+10%
Fees to Service Providers
$454,532,760
$490,191,473
+8%
Advertising & Promotion
$37,476,913
$39,217,865
+5%
Offices, Occupancy & IT
$239,783,563
$237,682,464
-1%
Interest
$63,171,069
$50,613,617
-20%
Depreciation
$181,227,576
$207,141,137
+14%
Other
$1,203,417,689
$1,347,947,140
+12%
Total Expenses
$5,495,599,586
$5,986,905,330
+9%
Net income
2023
2024
Change
Net income
+$425,962,803
+$501,235,149
+18%
Functional Expenses
Summary
2023
2024
Change
Program
$5,242,253,300
$5,623,209,445
+7%
Admin
$223,878,307
$336,760,939
+50%
Fundraising
$29,467,979
$26,934,946
-9%
Total Expenses
$5,495,599,586
$5,986,905,330
+9%
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