THE HERITAGE FOUNDATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$133,868,147
Contributions
79%
Other
18%
Investments
2%
Program Services
<1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$142,200,535
Salaries & Benefits
37%
Fees to Service Providers
21%
Offices, Occupancy & IT
17%
Other
9%
Grants
6%
Advertising & Promotion
5%
Depreciation
3%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$97,801,739
$106,031,026
+8%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$83,247
$69,247
-17%
Membership Dues
$0
$0
-
Investments
$3,010,764
$3,300,992
+10%
Other
$67,600
$24,466,882
+36094%
Total Revenues
$100,963,350
$133,868,147
+33%
Expenses
2023
2024
Change
Grants
$1,660,000
$9,046,150
+445%
Benefits to Members
$0
$0
-
Salaries & Benefits
$49,494,451
$53,061,340
+7%
Fees to Service Providers
$16,843,526
$29,824,630
+77%
Advertising & Promotion
$1,359,531
$7,526,194
+454%
Offices, Occupancy & IT
$21,051,603
$24,437,641
+16%
Interest
$246,775
$108,310
-56%
Depreciation
$3,928,418
$4,901,972
+25%
Other
$13,154,873
$13,294,298
+1%
Total Expenses
$107,739,177
$142,200,535
+32%
Net income
2023
2024
Change
Net income
-$6,775,827
-$8,332,388
-23%
Functional Expenses
Summary
2023
2024
Change
Program
$87,694,931
$117,347,452
+34%
Admin
$3,399,209
$4,644,804
+37%
Fundraising
$16,645,037
$20,208,279
+21%
Total Expenses
$107,739,177
$142,200,535
+32%
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