HERITAGE UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$31,979,056
Program Services
74%
Contributions
16%
Other
5%
Investments
3%
Fundraising Events
2%
Government Grants
0%
Membership Dues
0%
Expenses in 2024
$29,276,334
Salaries & Benefits
56%
Grants
13%
Offices, Occupancy & IT
9%
Other
8%
Fees to Service Providers
7%
Depreciation
5%
Interest
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$2,240,997
$5,056,985
+126%
Government Grants
$0
$0
-
Fundraising Events
$789,847
$730,718
-7%
Program Services
$24,052,747
$23,685,416
-2%
Membership Dues
$0
$0
-
Investments
$646,210
$1,059,139
+64%
Other
$3,400,181
$1,446,798
-57%
Total Revenues
$31,129,982
$31,979,056
+3%
Expenses
2023
2024
Change
Grants
$4,708,433
$3,684,952
-22%
Benefits to Members
$0
$0
-
Salaries & Benefits
$16,225,119
$16,482,510
+2%
Fees to Service Providers
$1,457,675
$2,015,615
+38%
Advertising & Promotion
$249,567
$236,796
-5%
Offices, Occupancy & IT
$2,643,924
$2,668,505
+1%
Interest
$209,795
$335,939
+60%
Depreciation
$1,196,380
$1,419,588
+19%
Other
$1,687,206
$2,432,429
+44%
Total Expenses
$28,378,099
$29,276,334
+3%
Net income
2023
2024
Change
Net income
+$2,751,883
+$2,702,722
-2%
Functional Expenses
Summary
2023
2024
Change
Program
$20,388,635
$21,748,085
+7%
Admin
$7,198,634
$6,513,323
-10%
Fundraising
$790,830
$1,014,926
+28%
Total Expenses
$28,378,099
$29,276,334
+3%
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