Erskine’s 2024-25 audit shows significant financial growth

Erskine concluded another successful fiscal year with the recent completion of its annual audit. During the 2024-25 year, which ended June 30, the college outperformed the previous year’s financial results based on several metrics—a significant accomplishment, considering 2023-24 was Erskine’s best fiscal year in two decades.

Building on the previous year’s momentum, Erskine again finished with an operational surplus, this year’s surplus totaling $1.84 million, a 33 percent improvement over 2023-24. In addition, total net assets increased by $2.77 million, 88 percent higher than last year’s increase.

“Erskine is financially stronger today than it has been in many years,” says Vice President for Finance Darrell Proffitt.

As the college continues to build on recent successes, Erskine President Dr. Steve Adamson sees a bright future ahead.

“This momentum is both financially and institutionally encouraging for the future,” he says. “The foundation is in place for growth: we are financially stable, donor support is rising, and continued academic expansion will create new pathways for students.”

Thanks to generous donors, Erskine enjoyed one of its most successful fundraising years on record. Total giving exceeded $7.5 million, outpacing even last year’s strong performance.

“We are excited about the increased support for the college and are grateful to all our alumni and friends who have given of their time, talent, and treasure,” says Director of Alumni Relations Jeanne Bell ’92. “Good things are happening at Erskine, and the news is spreading. The excitement among students, faculty, and staff is palpable.”

The president, who has recently visited with alumni and supporters throughout the Southeast, has found growing enthusiasm among Erskine’s constituents as well. “At Erskine, we are educating for eternity,” Dr. Adamson says. “Many alumni and friends are embracing that vision. They’re excited to see what God is doing, and they want to be a part of that work.”

Appointed in November 2021, Dr. Adamson began his work at Erskine in January 2022 and has experienced increasing success during his four-year tenure. “We are grateful to God for all that has been accomplished over the last few years, and we look with confidence and faith toward the future.”