Belhaven University
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$59,144,390
Program Services
94%
Contributions
3%
Other
1%
Investments
<1%
Government Grants
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$62,530,759
Salaries & Benefits
42%
Grants
27%
Other
9%
Fees to Service Providers
6%
Offices, Occupancy & IT
5%
Depreciation
5%
Advertising & Promotion
3%
Interest
1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,560,704
$1,956,040
-45%
Government Grants
$7,985,225
$227,855
-97%
Fundraising Events
$6,984
$12,500
+79%
Program Services
$50,257,078
$55,732,257
+11%
Membership Dues
$0
$0
-
Investments
$374,994
$470,321
+25%
Other
-$196,075
$745,417
-480%
Total Revenues
$61,988,910
$59,144,390
-5%
Expenses
2023
2024
Change
Grants
$15,333,095
$16,987,256
+11%
Benefits to Members
$0
$0
-
Salaries & Benefits
$25,895,859
$26,448,910
+2%
Fees to Service Providers
$3,763,902
$4,052,119
+8%
Advertising & Promotion
$2,193,015
$2,173,479
-1%
Offices, Occupancy & IT
$3,621,712
$3,358,334
-7%
Interest
$871,951
$934,480
+7%
Depreciation
$2,664,655
$2,942,907
+10%
Other
$7,145,956
$5,633,274
-21%
Total Expenses
$61,490,145
$62,530,759
+2%
Net income
2023
2024
Change
Net income
+$498,765
-$3,386,369
-779%
Functional Expenses
Summary
2023
2024
Change
Program
$44,952,697
$52,680,918
+17%
Admin
$10,337,281
$9,348,362
-10%
Fundraising
$6,200,167
$501,479
-92%
Total Expenses
$61,490,145
$62,530,759
+2%
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