MUSICAL INSTRUMENT MUSEUM
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$41,100,797
Contributions
64%
Program Services
20%
Investments
9%
Other
6%
Membership Dues
<1%
Government Grants
<1%
Fundraising Events
0%
Expenses in 2024
$21,016,342
Salaries & Benefits
33%
Other
25%
Depreciation
20%
Offices, Occupancy & IT
15%
Fees to Service Providers
4%
Advertising & Promotion
2%
Grants
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$17,476,766
$26,193,072
+50%
Government Grants
$0
$50,600
-
Fundraising Events
$0
$0
-
Program Services
$0
$8,276,011
-
Membership Dues
$0
$376,859
-
Investments
$2,623,394
$3,758,552
+43%
Other
$8,300,346
$2,445,703
-71%
Total Revenues
$28,400,506
$41,100,797
+45%
Expenses
2023
2024
Change
Grants
$39,700
$72,893
+84%
Benefits to Members
$0
$0
-
Salaries & Benefits
$6,281,460
$6,895,149
+10%
Fees to Service Providers
$619,028
$835,819
+35%
Advertising & Promotion
$634,970
$479,477
-24%
Offices, Occupancy & IT
$1,893,771
$3,206,362
+69%
Interest
$0
$0
-
Depreciation
$4,244,943
$4,228,319
0%
Other
$6,933,242
$5,298,323
-24%
Total Expenses
$20,647,114
$21,016,342
+2%
Net income
2023
2024
Change
Net income
+$7,753,392
+$20,084,455
+159%
Functional Expenses
Summary
2023
2024
Change
Program
-
$17,356,424
-
Admin
-
$2,949,603
-
Fundraising
-
$710,315
-
Total Expenses
$20,647,114
$21,016,342
+2%
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