MYSTIC SEAPORT MUSEUM INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$25,343,759
Contributions
46%
Program Services
28%
Other
12%
Membership Dues
7%
Investments
5%
Government Grants
1%
Fundraising Events
1%
Expenses in 2024
$24,697,243
Salaries & Benefits
53%
Offices, Occupancy & IT
18%
Other
16%
Depreciation
8%
Fees to Service Providers
2%
Grants
2%
Advertising & Promotion
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$6,555,979
$11,542,706
+76%
Government Grants
$2,514,827
$348,605
-86%
Fundraising Events
$440,652
$277,852
-37%
Program Services
$6,631,004
$7,164,199
+8%
Membership Dues
$1,260,991
$1,678,817
+33%
Investments
$1,415,528
$1,389,564
-2%
Other
$566,496
$2,942,016
+419%
Total Revenues
$19,385,477
$25,343,759
+31%
Expenses
2023
2024
Change
Grants
$357,458
$372,899
+4%
Benefits to Members
$0
$0
-
Salaries & Benefits
$11,929,366
$13,177,543
+10%
Fees to Service Providers
$2,086,127
$523,640
-75%
Advertising & Promotion
$234,011
$239,585
+2%
Offices, Occupancy & IT
$5,599,887
$4,425,470
-21%
Interest
$110,916
$98,171
-11%
Depreciation
$1,899,788
$1,950,080
+3%
Other
$3,657,134
$3,909,855
+7%
Total Expenses
$25,874,687
$24,697,243
-5%
Net income
2023
2024
Change
Net income
-$6,489,210
+$646,516
-110%
Functional Expenses
Summary
2023
2024
Change
Program
$17,113,929
$14,089,215
-18%
Admin
$7,148,667
$8,515,931
+19%
Fundraising
$1,612,091
$2,092,097
+30%
Total Expenses
$25,874,687
$24,697,243
-5%
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