Ann Arbor Art Association
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$1,743,407
Program Services
46%
Contributions
29%
Other
15%
Government Grants
7%
Fundraising Events
1%
Membership Dues
1%
Investments
<1%
Expenses in 2024
$1,759,966
Salaries & Benefits
47%
Other
24%
Fees to Service Providers
11%
Offices, Occupancy & IT
9%
Depreciation
7%
Advertising & Promotion
2%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$369,957
$513,648
+39%
Government Grants
$116,243
$120,674
+4%
Fundraising Events
$29,363
$22,450
-24%
Program Services
$730,994
$800,857
+10%
Membership Dues
$15,877
$20,230
+27%
Investments
$32,961
$5,931
-82%
Other
$182,541
$259,617
+42%
Total Revenues
$1,477,936
$1,743,407
+18%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$708,310
$825,204
+17%
Fees to Service Providers
$93,617
$196,206
+110%
Advertising & Promotion
$15,653
$28,483
+82%
Offices, Occupancy & IT
$128,439
$160,530
+25%
Interest
$1,667
$2,469
+48%
Depreciation
$116,396
$122,855
+6%
Other
$447,130
$424,219
-5%
Total Expenses
$1,511,212
$1,759,966
+16%
Net income
2023
2024
Change
Net income
-$33,276
-$16,559
+50%
Functional Expenses
Summary
2023
2024
Change
Program
$1,160,176
$1,365,235
+18%
Admin
$202,337
$218,797
+8%
Fundraising
$148,699
$175,934
+18%
Total Expenses
$1,511,212
$1,759,966
+16%
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