CURTIS INSTITUTE OF MUSIC
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$24,929,198
Other
40%
Contributions
29%
Program Services
16%
Investments
12%
Fundraising Events
3%
Government Grants
<1%
Membership Dues
0%
Expenses in 2024
$33,537,705
Salaries & Benefits
46%
Other
19%
Fees to Service Providers
10%
Depreciation
9%
Offices, Occupancy & IT
8%
Grants
5%
Advertising & Promotion
3%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$28,669,488
$7,109,205
-75%
Government Grants
$2,929,853
$108,000
-96%
Fundraising Events
$483,450
$689,574
+43%
Program Services
$3,610,164
$3,971,247
+10%
Membership Dues
$0
$0
-
Investments
$2,853,319
$3,076,380
+8%
Other
$4,967,519
$9,974,792
+101%
Total Revenues
$43,513,793
$24,929,198
-43%
Expenses
2023
2024
Change
Grants
$1,605,297
$1,729,649
+8%
Benefits to Members
$0
$0
-
Salaries & Benefits
$13,609,472
$15,380,314
+13%
Fees to Service Providers
$2,907,259
$3,335,871
+15%
Advertising & Promotion
$792,160
$983,114
+24%
Offices, Occupancy & IT
$2,799,770
$2,555,692
-9%
Interest
$870
$2,700
+210%
Depreciation
$2,093,035
$3,029,123
+45%
Other
$7,066,896
$6,521,242
-8%
Total Expenses
$30,874,759
$33,537,705
+9%
Net income
2023
2024
Change
Net income
+$12,639,034
-$8,608,507
-168%
Functional Expenses
Summary
2023
2024
Change
Program
$21,620,072
$22,954,114
+6%
Admin
$7,397,818
$8,679,981
+17%
Fundraising
$1,856,869
$1,903,610
+3%
Total Expenses
$30,874,759
$33,537,705
+9%
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