MUSEUM OF CONTEMPORARY ART DETROIT
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$1,723,247
Contributions
75%
Other
14%
Membership Dues
8%
Program Services
3%
Investments
<1%
Government Grants
0%
Fundraising Events
0%
Expenses in 2024
$2,010,207
Salaries & Benefits
68%
Other
13%
Fees to Service Providers
6%
Offices, Occupancy & IT
6%
Depreciation
4%
Advertising & Promotion
2%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$788,170
$1,290,391
+64%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$0
$50,264
-
Membership Dues
$0
$135,121
-
Investments
$97
$470
+385%
Other
$556,502
$247,001
-56%
Total Revenues
$1,344,769
$1,723,247
+28%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,328,497
$1,370,383
+3%
Fees to Service Providers
$120,920
$125,680
+4%
Advertising & Promotion
$0
$49,074
-
Offices, Occupancy & IT
$94,496
$122,610
+30%
Interest
$0
$0
-
Depreciation
$30,873
$79,020
+156%
Other
$401,303
$263,440
-34%
Total Expenses
$1,976,089
$2,010,207
+2%
Net income
2023
2024
Change
Net income
-$631,320
-$286,960
+55%
Functional Expenses
Summary
2023
2024
Change
Program
$1,611,068
$1,465,514
-9%
Admin
$255,570
$425,428
+66%
Fundraising
$109,451
$119,265
+9%
Total Expenses
$1,976,089
$2,010,207
+2%
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