Howard Payne University
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$44,297,691
Program Services
57%
Investments
17%
Contributions
12%
Government Grants
12%
Other
1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$37,508,470
Grants
32%
Salaries & Benefits
32%
Other
14%
Offices, Occupancy & IT
12%
Depreciation
6%
Fees to Service Providers
3%
Advertising & Promotion
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$3,395,648
$5,401,613
+59%
Government Grants
$1,508,983
$5,347,332
+254%
Fundraising Events
$164,550
$138,300
-16%
Program Services
$23,714,938
$25,155,921
+6%
Membership Dues
$0
$0
-
Investments
$9,034,311
$7,632,311
-16%
Other
$87,123
$622,214
+614%
Total Revenues
$37,905,553
$44,297,691
+17%
Expenses
2023
2024
Change
Grants
$11,449,605
$12,055,672
+5%
Benefits to Members
$0
$0
-
Salaries & Benefits
$11,210,182
$11,876,753
+6%
Fees to Service Providers
$1,283,563
$1,183,650
-8%
Advertising & Promotion
$137,392
$121,912
-11%
Offices, Occupancy & IT
$4,331,083
$4,665,756
+8%
Interest
$12,470
$0
-100%
Depreciation
$1,806,356
$2,285,411
+27%
Other
$4,944,808
$5,319,316
+8%
Total Expenses
$35,175,459
$37,508,470
+7%
Net income
2023
2024
Change
Net income
+$2,730,094
+$6,789,221
+149%
Functional Expenses
Summary
2023
2024
Change
Program
$29,111,301
$31,549,924
+8%
Admin
$5,251,200
$4,997,861
-5%
Fundraising
$812,958
$960,685
+18%
Total Expenses
$35,175,459
$37,508,470
+7%
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