TAFT MUSEUM OF ART
Income Statement
Fiscal Year Start:
Sep 1
Revenues in 2024
$5,989,951
Contributions
54%
Investments
26%
Government Grants
10%
Program Services
4%
Fundraising Events
4%
Other
3%
Membership Dues
0%
Expenses in 2024
$8,178,733
Salaries & Benefits
53%
Depreciation
20%
Other
15%
Offices, Occupancy & IT
5%
Interest
4%
Fees to Service Providers
2%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$7,424,268
$3,207,505
-57%
Government Grants
$489,382
$611,697
+25%
Fundraising Events
$205,822
$209,956
+2%
Program Services
$267,524
$224,001
-16%
Membership Dues
$0
$0
-
Investments
$1,524,280
$1,557,611
+2%
Other
$213,605
$179,181
-16%
Total Revenues
$10,124,881
$5,989,951
-41%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$4,042,829
$4,356,113
+8%
Fees to Service Providers
$311,503
$124,635
-60%
Advertising & Promotion
$33,728
$69,269
+105%
Offices, Occupancy & IT
$1,015,439
$441,519
-57%
Interest
$64,406
$306,058
+375%
Depreciation
$659,340
$1,613,658
+145%
Other
$855,847
$1,267,481
+48%
Total Expenses
$6,983,092
$8,178,733
+17%
Net income
2023
2024
Change
Net income
+$3,141,789
-$2,188,782
-170%
Functional Expenses
Summary
2023
2024
Change
Program
$4,389,983
$6,166,695
+40%
Admin
$2,079,158
$1,514,336
-27%
Fundraising
$513,951
$497,702
-3%
Total Expenses
$6,983,092
$8,178,733
+17%
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