ECONOMIC DEVELOPMENT GROWTH ENTERPRISES CORPORATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$10,796,894
Government Grants
50%
Program Services
41%
Other
3%
Fundraising Events
3%
Contributions
1%
Investments
1%
Membership Dues
<1%
Expenses in 2024
$6,886,017
Fees to Service Providers
34%
Salaries & Benefits
24%
Other
22%
Interest
7%
Depreciation
6%
Grants
3%
Offices, Occupancy & IT
3%
Advertising & Promotion
1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$213,379
$136,814
-36%
Government Grants
$2,095,248
$5,388,582
+157%
Fundraising Events
$220,425
$326,050
+48%
Program Services
$5,205,358
$4,385,615
-16%
Membership Dues
$125,000
$100,000
-20%
Investments
$22,805
$127,468
+459%
Other
$310,905
$332,365
+7%
Total Revenues
$8,193,120
$10,796,894
+32%
Expenses
2023
2024
Change
Grants
$1,175,678
$188,865
-84%
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,611,525
$1,679,792
+4%
Fees to Service Providers
$3,031,117
$2,341,095
-23%
Advertising & Promotion
$57,318
$83,112
+45%
Offices, Occupancy & IT
$222,999
$187,803
-16%
Interest
$519,039
$488,551
-6%
Depreciation
$396,433
$397,153
+0%
Other
$1,311,287
$1,519,646
+16%
Total Expenses
$8,325,396
$6,886,017
-17%
Net income
2023
2024
Change
Net income
-$132,276
+$3,910,877
-3057%
Functional Expenses
Summary
2023
2024
Change
Program
$7,818,453
$6,361,575
-19%
Admin
$506,943
$524,442
+3%
Fundraising
$0
$0
-
Total Expenses
$8,325,396
$6,886,017
-17%
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