GULF OF MAINE RESEARCH INSTITUTE
GULF OF MAINE RESEARCH INSTITUTE
GULF OF MAINE RESEARCH INSTITUTE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$20,243,085
Government Grants
51%
Contributions
38%
Program Services
7%
Investments
2%
Other
1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$17,708,525
Salaries & Benefits
59%
Fees to Service Providers
19%
Other
12%
Offices, Occupancy & IT
8%
Depreciation
2%
Interest
<1%
Grants
0%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$10,178,818
$7,766,423
-24%
Government Grants
$8,321,693
$10,398,651
+25%
Fundraising Events
$0
$0
-
Program Services
$517,325
$1,338,165
+159%
Membership Dues
$0
$0
-
Investments
$293,037
$504,261
+72%
Other
$59,247
$235,585
+298%
Total Revenues
$19,370,120
$20,243,085
+5%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$9,076,335
$10,518,506
+16%
Fees to Service Providers
$2,949,802
$3,378,660
+15%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$1,249,099
$1,388,717
+11%
Interest
$43,500
$43,500
+0%
Depreciation
$274,673
$290,837
+6%
Other
$1,767,674
$2,088,305
+18%
Total Expenses
$15,361,083
$17,708,525
+15%
Net income
2023
2024
Change
Net income
+$4,009,037
+$2,534,560
-37%
Functional Expenses
Summary
2023
2024
Change
Program
$10,034,634
$11,833,731
+18%
Admin
$3,994,329
$4,403,793
+10%
Fundraising
$1,332,120
$1,471,001
+10%
Total Expenses
$15,361,083
$17,708,525
+15%
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