ASBURY THEOLOGICAL SEMINARY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$45,282,439
Program Services
55%
Contributions
22%
Other
19%
Investments
4%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$43,353,684
Salaries & Benefits
44%
Grants
25%
Offices, Occupancy & IT
19%
Depreciation
7%
Other
4%
Advertising & Promotion
<1%
Fees to Service Providers
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$9,109,675
$10,065,582
+10%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$22,632,574
$24,872,767
+10%
Membership Dues
$0
$0
-
Investments
$1,650,077
$1,783,371
+8%
Other
$1,232,044
$8,560,719
+595%
Total Revenues
$34,624,370
$45,282,439
+31%
Expenses
2023
2024
Change
Grants
$9,337,717
$10,916,121
+17%
Benefits to Members
$0
$0
-
Salaries & Benefits
$17,651,434
$19,217,392
+9%
Fees to Service Providers
$124,491
$148,165
+19%
Advertising & Promotion
$136,374
$172,460
+26%
Offices, Occupancy & IT
$6,789,939
$8,204,050
+21%
Interest
$0
$0
-
Depreciation
$2,762,581
$3,011,250
+9%
Other
$2,013,186
$1,684,246
-16%
Total Expenses
$38,815,722
$43,353,684
+12%
Net income
2023
2024
Change
Net income
-$4,191,352
+$1,928,755
-146%
Functional Expenses
Summary
2023
2024
Change
Program
$38,815,722
$35,026,767
-10%
Admin
$0
$6,949,621
-
Fundraising
$0
$1,377,296
-
Total Expenses
$38,815,722
$43,353,684
+12%
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