SAMUEL MERRITT UNIVERSITY
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$134,762,793
Program Services
74%
Other
11%
Investments
9%
Contributions
4%
Government Grants
2%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$109,097,319
Salaries & Benefits
58%
Offices, Occupancy & IT
13%
Grants
10%
Other
10%
Interest
5%
Depreciation
3%
Fees to Service Providers
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$6,066,828
$5,588,206
-8%
Government Grants
$2,070,258
$2,701,749
+31%
Fundraising Events
$0
$0
-
Program Services
$91,453,088
$99,627,074
+9%
Membership Dues
$0
$0
-
Investments
$10,511,983
$12,273,368
+17%
Other
$3,800,917
$14,572,396
+283%
Total Revenues
$113,903,074
$134,762,793
+18%
Expenses
2023
2024
Change
Grants
$8,956,586
$10,770,338
+20%
Benefits to Members
$0
$0
-
Salaries & Benefits
$61,640,135
$63,355,089
+3%
Fees to Service Providers
$2,246,696
$1,048,792
-53%
Advertising & Promotion
$289,918
$571,358
+97%
Offices, Occupancy & IT
$11,962,869
$14,539,286
+22%
Interest
$5,995,073
$4,923,582
-18%
Depreciation
$3,738,909
$3,338,240
-11%
Other
$12,788,618
$10,550,634
-17%
Total Expenses
$107,618,804
$109,097,319
+1%
Net income
2023
2024
Change
Net income
+$6,284,270
+$25,665,474
+308%
Functional Expenses
Summary
2023
2024
Change
Program
$78,510,972
$82,930,309
+6%
Admin
$27,439,422
$23,724,152
-14%
Fundraising
$1,668,410
$2,442,858
+46%
Total Expenses
$107,618,804
$109,097,319
+1%
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