THE ARMORY FOUNDATION
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$11,971,935
Other
31%
Contributions
29%
Program Services
26%
Government Grants
10%
Fundraising Events
3%
Investments
<1%
Membership Dues
0%
Expenses in 2024
$8,834,658
Salaries & Benefits
42%
Fees to Service Providers
28%
Offices, Occupancy & IT
17%
Depreciation
8%
Other
3%
Advertising & Promotion
1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$4,326,743
$3,489,199
-19%
Government Grants
$141,637
$1,239,535
+775%
Fundraising Events
$134,710
$322,229
+139%
Program Services
$4,074,055
$3,059,127
-25%
Membership Dues
$0
$0
-
Investments
$20,103
$109,471
+445%
Other
$15,012
$3,752,374
+24896%
Total Revenues
$8,712,260
$11,971,935
+37%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$4,266,471
$3,691,050
-13%
Fees to Service Providers
$1,397,936
$2,493,857
+78%
Advertising & Promotion
$75,649
$97,131
+28%
Offices, Occupancy & IT
$1,494,278
$1,538,646
+3%
Interest
$0
$0
-
Depreciation
$835,088
$706,679
-15%
Other
$697,565
$307,295
-56%
Total Expenses
$8,766,987
$8,834,658
+1%
Net income
2023
2024
Change
Net income
-$54,727
+$3,137,277
-5833%
Functional Expenses
Summary
2023
2024
Change
Program
$7,837,185
$8,382,607
+7%
Admin
$767,353
$317,298
-59%
Fundraising
$162,449
$134,753
-17%
Total Expenses
$8,766,987
$8,834,658
+1%
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