PHILADELPHIA MUSEUM OF ART
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$81,068,240
Contributions
44%
Other
27%
Program Services
10%
Government Grants
8%
Investments
6%
Membership Dues
5%
Fundraising Events
<1%
Expenses in 2024
$83,550,297
Salaries & Benefits
36%
Depreciation
19%
Other
18%
Fees to Service Providers
14%
Offices, Occupancy & IT
9%
Interest
3%
Advertising & Promotion
2%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$33,151,799
$35,466,854
+7%
Government Grants
$5,598,000
$6,309,500
+13%
Fundraising Events
$766,444
$778,523
+2%
Program Services
$7,765,770
$7,964,824
+3%
Membership Dues
$4,470,782
$4,288,009
-4%
Investments
$9,634,408
$4,742,754
-51%
Other
$53,026,794
$21,517,776
-59%
Total Revenues
$114,413,997
$81,068,240
-29%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$29,456,708
$29,718,753
+1%
Fees to Service Providers
$12,408,090
$12,026,324
-3%
Advertising & Promotion
$1,466,445
$1,374,098
-6%
Offices, Occupancy & IT
$7,229,615
$7,250,436
+0%
Interest
$1,966,270
$2,120,710
+8%
Depreciation
$16,133,791
$15,799,749
-2%
Other
$9,202,191
$15,260,227
+66%
Total Expenses
$77,863,110
$83,550,297
+7%
Net income
2023
2024
Change
Net income
+$36,550,887
-$2,482,057
-107%
Functional Expenses
Summary
2023
2024
Change
Program
$60,311,876
$64,028,667
+6%
Admin
$13,520,052
$14,429,547
+7%
Fundraising
$4,031,182
$5,092,083
+26%
Total Expenses
$77,863,110
$83,550,297
+7%
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