THE UNIVERSITY OF THE VIRGIN ISLANDS
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2023
$102,783,850
Contributions
48%
Government Grants
34%
Program Services
16%
Investments
2%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2023
$102,851,794
Salaries & Benefits
50%
Other
46%
Depreciation
3%
Fees to Service Providers
<1%
Offices, Occupancy & IT
<1%
Advertising & Promotion
<1%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2022
2023
Change
Contributions
$49,100,561
$49,140,157
+0%
Government Grants
$44,209,184
$35,335,108
-20%
Fundraising Events
$0
$0
-
Program Services
$15,853,009
$16,430,015
+4%
Membership Dues
$0
$0
-
Investments
$2,402,632
$1,878,570
-22%
Other
$0
$0
-
Total Revenues
$111,565,386
$102,783,850
-8%
Expenses
2022
2023
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$50,878,770
$51,523,542
+1%
Fees to Service Providers
$8,832,611
$1,002,219
-89%
Advertising & Promotion
$254,003
$327,538
+29%
Offices, Occupancy & IT
$423,511
$468,446
+11%
Interest
$0
$4,314
-
Depreciation
$2,359,429
$2,609,429
+11%
Other
$62,510,037
$46,916,306
-25%
Total Expenses
$125,258,361
$102,851,794
-18%
Net income
2022
2023
Change
Net income
-$13,692,975
-$67,944
+100%
Functional Expenses
Summary
2022
2023
Change
Program
$13,330,565
$11,792,118
-12%
Admin
$111,927,796
$91,059,676
-19%
Fundraising
$0
$0
-
Total Expenses
$125,258,361
$102,851,794
-18%
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