THE UNIVERSITY OF PUGET SOUND
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$151,551,518
Program Services
86%
Contributions
8%
Investments
2%
Other
2%
Government Grants
2%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$166,535,068
Salaries & Benefits
42%
Grants
32%
Offices, Occupancy & IT
7%
Other
6%
Depreciation
6%
Fees to Service Providers
5%
Advertising & Promotion
1%
Interest
1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$16,472,312
$12,847,029
-22%
Government Grants
$5,663,223
$2,627,964
-54%
Fundraising Events
$0
$0
-
Program Services
$129,047,834
$129,942,891
+1%
Membership Dues
$0
$0
-
Investments
$4,518,370
$3,360,305
-26%
Other
$1,491,391
$2,773,329
+86%
Total Revenues
$157,193,130
$151,551,518
-4%
Expenses
2023
2024
Change
Grants
$52,769,065
$54,123,317
+3%
Benefits to Members
$0
$0
-
Salaries & Benefits
$70,419,844
$69,423,355
-1%
Fees to Service Providers
$7,770,192
$8,173,517
+5%
Advertising & Promotion
$2,197,882
$2,277,974
+4%
Offices, Occupancy & IT
$9,878,575
$11,227,445
+14%
Interest
$2,115,397
$1,791,123
-15%
Depreciation
$9,644,169
$9,424,039
-2%
Other
$10,351,376
$10,094,298
-2%
Total Expenses
$165,146,500
$166,535,068
+1%
Net income
2023
2024
Change
Net income
-$7,953,370
-$14,983,550
-88%
Functional Expenses
Summary
2023
2024
Change
Program
$146,105,995
$148,778,529
+2%
Admin
$15,789,106
$14,135,521
-10%
Fundraising
$3,251,399
$3,621,018
+11%
Total Expenses
$165,146,500
$166,535,068
+1%
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