VIRGINIA MUSEUM OF CONTEMPORARY ART
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$2,925,909
Contributions
46%
Government Grants
31%
Other
12%
Program Services
9%
Investments
1%
Membership Dues
<1%
Fundraising Events
0%
Expenses in 2024
$3,063,809
Salaries & Benefits
67%
Other
15%
Offices, Occupancy & IT
8%
Fees to Service Providers
4%
Depreciation
4%
Advertising & Promotion
2%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$1,376,290
$1,332,558
-3%
Government Grants
$958,702
$913,428
-5%
Fundraising Events
$0
$0
-
Program Services
$189,382
$271,773
+44%
Membership Dues
$31,228
$22,645
-27%
Investments
$8,361
$40,254
+381%
Other
$454,472
$345,251
-24%
Total Revenues
$3,018,435
$2,925,909
-3%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,999,217
$2,065,760
+3%
Fees to Service Providers
$71,932
$127,970
+78%
Advertising & Promotion
$175,195
$53,473
-69%
Offices, Occupancy & IT
$248,688
$253,384
+2%
Interest
$1,025
$907
-12%
Depreciation
$121,941
$115,146
-6%
Other
$565,671
$447,169
-21%
Total Expenses
$3,183,669
$3,063,809
-4%
Net income
2023
2024
Change
Net income
-$165,234
-$137,900
+17%
Functional Expenses
Summary
2023
2024
Change
Program
$2,351,019
$2,105,867
-10%
Admin
$446,297
$573,090
+28%
Fundraising
$386,353
$384,852
0%
Total Expenses
$3,183,669
$3,063,809
-4%
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