GREAT LAKES BOAT BUILDING SCHOOL
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$1,803,351
Contributions
41%
Program Services
40%
Government Grants
17%
Other
1%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$1,586,162
Salaries & Benefits
53%
Grants
11%
Other
10%
Offices, Occupancy & IT
7%
Depreciation
7%
Fees to Service Providers
6%
Advertising & Promotion
3%
Interest
2%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$1,060,447
$747,217
-30%
Government Grants
$57,209
$299,522
+424%
Fundraising Events
$11,768
$0
-100%
Program Services
$527,710
$724,876
+37%
Membership Dues
$0
$0
-
Investments
$6,957
$10,337
+49%
Other
$81,825
$21,399
-74%
Total Revenues
$1,745,916
$1,803,351
+3%
Expenses
2023
2024
Change
Grants
$156,243
$168,803
+8%
Benefits to Members
$0
$0
-
Salaries & Benefits
$714,757
$836,928
+17%
Fees to Service Providers
$104,299
$100,107
-4%
Advertising & Promotion
$77,837
$54,823
-30%
Offices, Occupancy & IT
$110,456
$117,675
+7%
Interest
$22,255
$32,784
+47%
Depreciation
$74,533
$110,860
+49%
Other
$119,949
$164,182
+37%
Total Expenses
$1,380,329
$1,586,162
+15%
Net income
2023
2024
Change
Net income
+$365,587
+$217,189
-41%
Functional Expenses
Summary
2023
2024
Change
Program
$819,494
$902,905
+10%
Admin
$312,419
$369,098
+18%
Fundraising
$248,416
$314,159
+26%
Total Expenses
$1,380,329
$1,586,162
+15%
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