SEA RESEARCH FOUNDATION INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$31,819,627
Program Services
78%
Government Grants
9%
Contributions
7%
Other
3%
Investments
2%
Fundraising Events
1%
Membership Dues
0%
Expenses in 2024
$32,042,657
Salaries & Benefits
54%
Other
16%
Offices, Occupancy & IT
10%
Depreciation
8%
Fees to Service Providers
7%
Advertising & Promotion
3%
Interest
<1%
Grants
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$1,517,230
$2,192,499
+45%
Government Grants
$6,797,169
$2,952,249
-57%
Fundraising Events
$466,697
$419,141
-10%
Program Services
$23,607,874
$24,672,902
+5%
Membership Dues
$0
$0
-
Investments
$467,891
$653,823
+40%
Other
-$300,395
$929,013
-409%
Total Revenues
$32,556,466
$31,819,627
-2%
Expenses
2023
2024
Change
Grants
$133,454
$85,576
-36%
Benefits to Members
$0
$0
-
Salaries & Benefits
$15,968,314
$17,336,168
+9%
Fees to Service Providers
$2,302,345
$2,383,481
+4%
Advertising & Promotion
$880,757
$944,489
+7%
Offices, Occupancy & IT
$2,760,145
$3,153,957
+14%
Interest
$229,000
$232,447
+2%
Depreciation
$2,391,621
$2,696,419
+13%
Other
$4,932,429
$5,210,120
+6%
Total Expenses
$29,598,065
$32,042,657
+8%
Net income
2023
2024
Change
Net income
+$2,958,401
-$223,030
-108%
Functional Expenses
Summary
2023
2024
Change
Program
$23,551,812
$25,553,707
+8%
Admin
$3,298,737
$3,583,626
+9%
Fundraising
$2,747,516
$2,905,324
+6%
Total Expenses
$29,598,065
$32,042,657
+8%
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