Philander Smith College
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2023
$25,344,806
Program Services
57%
Contributions
21%
Government Grants
21%
Other
1%
Fundraising Events
0%
Membership Dues
0%
Investments
0%
Expenses in 2023
$29,745,895
Other
80%
Grants
16%
Salaries & Benefits
4%
Benefits to Members
0%
Fees to Service Providers
0%
Advertising & Promotion
0%
Offices, Occupancy & IT
0%
Interest
0%
Depreciation
0%
Revenues
2022
2023
Change
Contributions
$7,750,717
$5,378,916
-31%
Government Grants
$11,389,042
$5,306,474
-53%
Fundraising Events
$0
$0
-
Program Services
$11,696,247
$14,381,394
+23%
Membership Dues
$0
$0
-
Investments
$255,954
$0
-100%
Other
$346,400
$278,022
-20%
Total Revenues
$31,438,360
$25,344,806
-19%
Expenses
2022
2023
Change
Grants
$6,988,208
$4,838,289
-31%
Benefits to Members
$0
$0
-
Salaries & Benefits
$9,064,025
$1,156,301
-87%
Fees to Service Providers
$1,639,851
$0
-100%
Advertising & Promotion
$37,933
$0
-100%
Offices, Occupancy & IT
$2,769,692
$0
-100%
Interest
$316,828
$0
-100%
Depreciation
$2,348,136
$0
-100%
Other
$4,032,426
$23,751,305
+489%
Total Expenses
$27,197,099
$29,745,895
+9%
Net income
2022
2023
Change
Net income
+$4,241,261
-$4,401,089
-204%
Functional Expenses
Summary
2022
2023
Change
Program
$20,988,427
$22,466,478
+7%
Admin
$5,909,670
$7,279,417
+23%
Fundraising
$299,002
$0
-100%
Total Expenses
$27,197,099
$29,745,895
+9%
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