MILLIGAN UNIVERSITY
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2025
$61,430,257
Program Services
80%
Contributions
13%
Other
4%
Investments
4%
Government Grants
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2025
$57,086,515
Grants
39%
Salaries & Benefits
33%
Other
10%
Offices, Occupancy & IT
8%
Fees to Service Providers
5%
Depreciation
5%
Advertising & Promotion
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2024
2025
Change
Contributions
$8,120,565
$7,772,843
-4%
Government Grants
$0
$108,450
-
Fundraising Events
$20,565
$13,875
-33%
Program Services
$44,673,239
$48,970,274
+10%
Membership Dues
$0
$0
-
Investments
$2,080,915
$2,274,057
+9%
Other
$3,424,861
$2,290,758
-33%
Total Revenues
$58,320,145
$61,430,257
+5%
Expenses
2024
2025
Change
Grants
$19,781,646
$22,049,352
+11%
Benefits to Members
$0
$0
-
Salaries & Benefits
$18,142,741
$19,061,555
+5%
Fees to Service Providers
$2,368,650
$2,770,400
+17%
Advertising & Promotion
$472,246
$561,463
+19%
Offices, Occupancy & IT
$3,413,442
$4,303,476
+26%
Interest
$218,237
$180,021
-18%
Depreciation
$2,409,195
$2,587,433
+7%
Other
$5,230,391
$5,572,815
+7%
Total Expenses
$52,036,548
$57,086,515
+10%
Net income
2024
2025
Change
Net income
+$6,283,597
+$4,343,742
-31%
Functional Expenses
Summary
2024
2025
Change
Program
$44,108,697
$47,481,434
+8%
Admin
$6,716,847
$8,652,148
+29%
Fundraising
$1,211,004
$952,933
-21%
Total Expenses
$52,036,548
$57,086,515
+10%
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