FOGARTY INSTITUTE FOR INNOVATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$2,887,855
Program Services
75%
Contributions
12%
Other
8%
Investments
5%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$7,841,457
Salaries & Benefits
64%
Offices, Occupancy & IT
17%
Other
8%
Fees to Service Providers
8%
Depreciation
2%
Interest
<1%
Grants
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$178,952
$345,064
+93%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$2,186,203
$2,161,507
-1%
Membership Dues
$0
$0
-
Investments
$573,709
$148,568
-74%
Other
$572
$232,716
+40585%
Total Revenues
$2,939,436
$2,887,855
-2%
Expenses
2023
2024
Change
Grants
$38,600
$52,900
+37%
Benefits to Members
$0
$0
-
Salaries & Benefits
$5,076,403
$5,008,503
-1%
Fees to Service Providers
$563,478
$604,204
+7%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$1,378,069
$1,348,831
-2%
Interest
$64,391
$60,944
-5%
Depreciation
$136,712
$144,440
+6%
Other
$373,128
$621,635
+67%
Total Expenses
$7,630,781
$7,841,457
+3%
Net income
2023
2024
Change
Net income
-$4,691,345
-$4,953,602
-6%
Functional Expenses
Summary
2023
2024
Change
Program
$6,244,579
$6,324,445
+1%
Admin
$1,230,756
$1,358,114
+10%
Fundraising
$155,446
$158,898
+2%
Total Expenses
$7,630,781
$7,841,457
+3%
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