NATIONAL MUSEUM OF RACING INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$3,274,667
Other
40%
Contributions
30%
Investments
13%
Fundraising Events
9%
Program Services
8%
Government Grants
0%
Membership Dues
0%
Expenses in 2024
$4,302,609
Depreciation
37%
Salaries & Benefits
26%
Other
16%
Fees to Service Providers
12%
Offices, Occupancy & IT
7%
Advertising & Promotion
<1%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,384,443
$969,005
-71%
Government Grants
$0
$0
-
Fundraising Events
$0
$283,600
-
Program Services
$177,768
$274,767
+55%
Membership Dues
$100,758
$0
-100%
Investments
$444,359
$421,327
-5%
Other
$511,369
$1,325,968
+159%
Total Revenues
$4,618,697
$3,274,667
-29%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,051,084
$1,125,650
+7%
Fees to Service Providers
$172,024
$518,240
+201%
Advertising & Promotion
$20,952
$34,791
+66%
Offices, Occupancy & IT
$9,032
$315,235
+3390%
Interest
$449
$309
-31%
Depreciation
$1,599,059
$1,605,954
+0%
Other
$1,114,123
$702,430
-37%
Total Expenses
$3,966,723
$4,302,609
+8%
Net income
2023
2024
Change
Net income
+$651,974
-$1,027,942
-258%
Functional Expenses
Summary
2023
2024
Change
Program
$2,940,436
$3,029,145
+3%
Admin
$617,945
$760,614
+23%
Fundraising
$408,342
$512,850
+26%
Total Expenses
$3,966,723
$4,302,609
+8%
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