LINCOLN MEMORIAL UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$258,919,196
Program Services
95%
Contributions
2%
Government Grants
1%
Investments
1%
Other
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$205,702,758
Salaries & Benefits
47%
Other
21%
Grants
14%
Depreciation
7%
Fees to Service Providers
6%
Offices, Occupancy & IT
3%
Advertising & Promotion
1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,225,277
$5,941,420
+14%
Government Grants
$4,298,757
$3,743,620
-13%
Fundraising Events
$0
$0
-
Program Services
$213,243,452
$245,853,367
+15%
Membership Dues
$0
$0
-
Investments
$1,631,458
$2,884,176
+77%
Other
$690,523
$496,613
-28%
Total Revenues
$225,089,467
$258,919,196
+15%
Expenses
2023
2024
Change
Grants
$25,837,256
$28,460,282
+10%
Benefits to Members
$0
$0
-
Salaries & Benefits
$88,318,119
$95,661,915
+8%
Fees to Service Providers
$9,472,258
$13,244,880
+40%
Advertising & Promotion
$2,264,901
$2,358,219
+4%
Offices, Occupancy & IT
$6,487,228
$6,881,323
+6%
Interest
$1,203,451
$1,231,027
+2%
Depreciation
$10,319,655
$13,848,280
+34%
Other
$38,540,456
$44,016,832
+14%
Total Expenses
$182,443,324
$205,702,758
+13%
Net income
2023
2024
Change
Net income
+$42,646,143
+$53,216,438
+25%
Functional Expenses
Summary
2023
2024
Change
Program
$138,132,757
$158,554,744
+15%
Admin
$42,191,741
$45,060,177
+7%
Fundraising
$2,118,826
$2,087,837
-1%
Total Expenses
$182,443,324
$205,702,758
+13%
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