MAINE COLLEGE OF ART AND DESIGN
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$29,795,926
Program Services
84%
Contributions
12%
Investments
2%
Other
<1%
Government Grants
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$28,239,876
Salaries & Benefits
37%
Grants
30%
Other
23%
Depreciation
5%
Offices, Occupancy & IT
3%
Advertising & Promotion
1%
Fees to Service Providers
1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$2,346,229
$3,688,766
+57%
Government Grants
$1,138,107
$181,213
-84%
Fundraising Events
$36,700
$32,500
-11%
Program Services
$21,995,558
$24,967,861
+14%
Membership Dues
$0
$0
-
Investments
$354,555
$734,361
+107%
Other
$239,423
$191,225
-20%
Total Revenues
$26,110,572
$29,795,926
+14%
Expenses
2023
2024
Change
Grants
$7,736,957
$8,356,368
+8%
Benefits to Members
$0
$0
-
Salaries & Benefits
$9,651,054
$10,424,765
+8%
Fees to Service Providers
$262,631
$324,078
+23%
Advertising & Promotion
$284,803
$337,382
+18%
Offices, Occupancy & IT
$860,185
$979,602
+14%
Interest
$133,404
$119,634
-10%
Depreciation
$1,183,497
$1,331,634
+13%
Other
$5,731,300
$6,366,413
+11%
Total Expenses
$25,843,831
$28,239,876
+9%
Net income
2023
2024
Change
Net income
+$266,741
+$1,556,050
+483%
Functional Expenses
Summary
2023
2024
Change
Program
$20,550,522
$20,880,001
+2%
Admin
$4,956,714
$6,497,781
+31%
Fundraising
$336,595
$862,094
+156%
Total Expenses
$25,843,831
$28,239,876
+9%
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