LITERACY MINNESOTA
LITERACY MINNESOTA
LITERACY MINNESOTA
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2023
$6,081,288
Government Grants
50%
Program Services
37%
Contributions
12%
Investments
<1%
Membership Dues
<1%
Fundraising Events
0%
Other
0%
Expenses in 2023
$6,213,103
Salaries & Benefits
52%
Fees to Service Providers
26%
Other
14%
Offices, Occupancy & IT
7%
Advertising & Promotion
<1%
Depreciation
<1%
Grants
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2022
2023
Change
Contributions
$875,741
$716,575
-18%
Government Grants
$3,348,510
$3,058,006
-9%
Fundraising Events
$0
$0
-
Program Services
$1,678,554
$2,238,913
+33%
Membership Dues
$26,550
$22,000
-17%
Investments
$32,955
$45,794
+39%
Other
$0
$0
-
Total Revenues
$5,962,310
$6,081,288
+2%
Expenses
2022
2023
Change
Grants
$4,200
$14,225
+239%
Benefits to Members
$0
$0
-
Salaries & Benefits
$3,099,931
$3,220,474
+4%
Fees to Service Providers
$1,099,233
$1,606,675
+46%
Advertising & Promotion
$7,091
$18,619
+163%
Offices, Occupancy & IT
$425,184
$457,752
+8%
Interest
$0
$218
-
Depreciation
$27,935
$16,682
-40%
Other
$887,170
$878,458
-1%
Total Expenses
$5,550,744
$6,213,103
+12%
Net income
2022
2023
Change
Net income
+$411,566
-$131,815
-132%
Functional Expenses
Summary
2022
2023
Change
Program
$4,448,668
$4,739,921
+7%
Admin
$842,177
$1,044,391
+24%
Fundraising
$259,899
$428,791
+65%
Total Expenses
$5,550,744
$6,213,103
+12%
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