ISLAND HOUSING TRUST CORPORATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$10,071,962
Contributions
49%
Government Grants
34%
Program Services
14%
Other
2%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$5,121,979
Salaries & Benefits
28%
Offices, Occupancy & IT
23%
Other
20%
Depreciation
13%
Grants
8%
Fees to Service Providers
7%
Benefits to Members
0%
Advertising & Promotion
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$4,315,486
$4,915,065
+14%
Government Grants
$0
$3,425,479
-
Fundraising Events
$0
$0
-
Program Services
$1,261,727
$1,423,584
+13%
Membership Dues
$0
$0
-
Investments
$113,738
$74,443
-35%
Other
$99,903
$233,391
+134%
Total Revenues
$5,790,854
$10,071,962
+74%
Expenses
2023
2024
Change
Grants
$90,135
$400,000
+344%
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,384,045
$1,436,317
+4%
Fees to Service Providers
$125,402
$374,013
+198%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$1,226,624
$1,192,636
-3%
Interest
$0
$0
-
Depreciation
$457,397
$685,359
+50%
Other
$1,100,296
$1,033,654
-6%
Total Expenses
$4,383,899
$5,121,979
+17%
Net income
2023
2024
Change
Net income
+$1,406,955
+$4,949,983
+252%
Functional Expenses
Summary
2023
2024
Change
Program
$3,276,088
$4,016,858
+23%
Admin
$701,311
$744,305
+6%
Fundraising
$406,500
$360,816
-11%
Total Expenses
$4,383,899
$5,121,979
+17%
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