SALEM ART WORKS INC
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$577,203
Contributions
77%
Program Services
13%
Government Grants
9%
Fundraising Events
2%
Membership Dues
0%
Investments
0%
Other
0%
Expenses in 2024
$534,033
Salaries & Benefits
58%
Other
23%
Offices, Occupancy & IT
9%
Fees to Service Providers
5%
Depreciation
4%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$376,612
$444,907
+18%
Government Grants
$40,000
$50,000
+25%
Fundraising Events
$0
$9,867
-
Program Services
$126,602
$72,429
-43%
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$7,012
$0
-100%
Total Revenues
$550,226
$577,203
+5%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$230,174
$312,094
+36%
Fees to Service Providers
$54,427
$24,243
-55%
Advertising & Promotion
$10,233
$4,222
-59%
Offices, Occupancy & IT
$78,254
$50,336
-36%
Interest
$2,502
$0
-100%
Depreciation
$21,328
$18,875
-12%
Other
$137,610
$124,263
-10%
Total Expenses
$534,528
$534,033
0%
Net income
2023
2024
Change
Net income
+$15,698
+$43,170
+175%
Functional Expenses
Summary
2023
2024
Change
Program
$416,851
$361,205
-13%
Admin
$96,111
$140,071
+46%
Fundraising
$21,566
$32,757
+52%
Total Expenses
$534,528
$534,033
0%
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