The Thurgood Marshall College Fund (TMCF) improved its financial position again, according to its fiscal year 2024 audit. TMCF’s fiscal year begins Jan. 1 and ends Dec. 31.
“Our CFO and COO Aisha T. Brown, the finance team and all TMCF staff worked extremely hard to ensure a clean and timely audit in FY24,” Dr. Harry L. Williams, president & CEO of TMCF, said. “Financial transparency is an important way for us to build support from our current and prospective partners so that our students are better positioned to succeed and lead in the workforce.”
Total assets in FY24 were more than $143 million, a $19 million increase from FY23. Total liabilities also received a notable boost, decreasing from $5.4 million to $4.1 million.
Other highlights from the FY24 audit include:
- Total operating revenue (grants, contributions, fees and income) reached $93.8 million, up from $85.5 million in FY23
- Total expenses for FY24 were $75.6 million, a decrease of $4.7 million.
- Funds available for general expenditures were $125.7 million, up from $108.5 million in FY23
- Fair value of investments increased $3.5 million from FY23 to FY24, with a total fair value of $50.9 million in 2024
- Net assets with donor restrictions were up $9.3 million from the prior year, reaching $88.8 million in FY24
For additional TMCF financial information including audited financial statements, 990 tax forms and annual reports, visit tmcf.org/about-us/financials.
