WELCH COLLEGE
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$10,593,286
Program Services
51%
Contributions
43%
Investments
4%
Fundraising Events
1%
Other
<1%
Government Grants
<1%
Membership Dues
0%
Expenses in 2024
$9,940,128
Salaries & Benefits
35%
Grants
21%
Other
20%
Interest
9%
Depreciation
7%
Offices, Occupancy & IT
6%
Fees to Service Providers
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$2,675,201
$4,583,037
+71%
Government Grants
$920,195
$11,427
-99%
Fundraising Events
$0
$107,996
-
Program Services
$5,275,410
$5,454,919
+3%
Membership Dues
$0
$0
-
Investments
$0
$383,089
-
Other
-$894,297
$52,818
-106%
Total Revenues
$7,976,509
$10,593,286
+33%
Expenses
2023
2024
Change
Grants
$1,999,995
$2,078,623
+4%
Benefits to Members
$0
$0
-
Salaries & Benefits
$3,520,241
$3,453,812
-2%
Fees to Service Providers
$130,685
$112,909
-14%
Advertising & Promotion
$152,668
$94,522
-38%
Offices, Occupancy & IT
$1,225,286
$616,639
-50%
Interest
$847,669
$908,563
+7%
Depreciation
$721,066
$691,544
-4%
Other
$1,801,248
$1,983,516
+10%
Total Expenses
$10,398,858
$9,940,128
-4%
Net income
2023
2024
Change
Net income
-$2,422,349
+$653,158
-127%
Functional Expenses
Summary
2023
2024
Change
Program
$8,604,351
$8,127,733
-6%
Admin
$1,192,068
$1,399,077
+17%
Fundraising
$602,439
$413,318
-31%
Total Expenses
$10,398,858
$9,940,128
-4%
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