STRAFFORD ECONOMIC DEVELOPMENT CORPORATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$1,104,639
Program Services
92%
Investments
4%
Government Grants
4%
Contributions
0%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$939,762
Salaries & Benefits
58%
Interest
16%
Other
15%
Fees to Service Providers
6%
Offices, Occupancy & IT
5%
Depreciation
<1%
Grants
0%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$42,915
$0
-100%
Government Grants
$1,410,822
$42,222
-97%
Fundraising Events
$0
$0
-
Program Services
$952,411
$1,019,764
+7%
Membership Dues
$0
$0
-
Investments
$25,675
$42,653
+66%
Other
$0
$0
-
Total Revenues
$2,431,823
$1,104,639
-55%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$413,665
$548,844
+33%
Fees to Service Providers
$40,964
$57,327
+40%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$40,545
$43,119
+6%
Interest
$142,507
$146,470
+3%
Depreciation
$2,080
$1,390
-33%
Other
$151,698
$142,612
-6%
Total Expenses
$791,459
$939,762
+19%
Net income
2023
2024
Change
Net income
+$1,640,364
+$164,877
-90%
Functional Expenses
Summary
2023
2024
Change
Program
$694,123
$813,592
+17%
Admin
$97,336
$126,170
+30%
Fundraising
$0
$0
-
Total Expenses
$791,459
$939,762
+19%
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