PHELPS MEMORIAL HOSPITAL ASSOCIATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$444,967,071
Program Services
89%
Other
8%
Government Grants
1%
Investments
1%
Contributions
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$427,347,109
Salaries & Benefits
59%
Offices, Occupancy & IT
21%
Other
11%
Depreciation
5%
Fees to Service Providers
4%
Advertising & Promotion
<1%
Interest
<1%
Grants
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,903,718
$2,170,993
-44%
Government Grants
$4,890,808
$5,792,629
+18%
Fundraising Events
$661,159
$880,426
+33%
Program Services
$376,298,198
$396,741,218
+5%
Membership Dues
$0
$0
-
Investments
$3,075,699
$4,887,963
+59%
Other
$31,081,872
$34,493,842
+11%
Total Revenues
$419,911,454
$444,967,071
+6%
Expenses
2023
2024
Change
Grants
$28,500
$9,500
-67%
Benefits to Members
$0
$0
-
Salaries & Benefits
$200,164,053
$251,584,784
+26%
Fees to Service Providers
$5,731,510
$19,083,673
+233%
Advertising & Promotion
$625,629
$1,010,361
+61%
Offices, Occupancy & IT
$83,095,596
$88,765,148
+7%
Interest
$677,621
$650,589
-4%
Depreciation
$18,615,105
$21,088,521
+13%
Other
$68,318,504
$45,154,533
-34%
Total Expenses
$377,256,518
$427,347,109
+13%
Net income
2023
2024
Change
Net income
+$42,654,936
+$17,619,962
-59%
Functional Expenses
Summary
2023
2024
Change
Program
$326,708,309
$375,938,788
+15%
Admin
$50,156,629
$50,989,919
+2%
Fundraising
$391,580
$418,402
+7%
Total Expenses
$377,256,518
$427,347,109
+13%
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