WESTMORELAND CULTURAL TRUST
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$8,670,550
Program Services
72%
Contributions
16%
Government Grants
6%
Other
3%
Membership Dues
2%
Investments
2%
Fundraising Events
0%
Expenses in 2024
$8,249,038
Other
65%
Salaries & Benefits
22%
Depreciation
5%
Offices, Occupancy & IT
4%
Fees to Service Providers
2%
Advertising & Promotion
2%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$543,166
$1,358,421
+150%
Government Grants
$518,573
$499,745
-4%
Fundraising Events
$21,515
$0
-100%
Program Services
$4,885,079
$6,224,944
+27%
Membership Dues
$149,480
$174,535
+17%
Investments
$56,629
$134,550
+138%
Other
$202,853
$278,355
+37%
Total Revenues
$6,377,295
$8,670,550
+36%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,454,236
$1,776,949
+22%
Fees to Service Providers
$164,048
$202,476
+23%
Advertising & Promotion
$91,165
$177,527
+95%
Offices, Occupancy & IT
$312,968
$321,204
+3%
Interest
$8,597
$8,169
-5%
Depreciation
$376,264
$424,269
+13%
Other
$3,977,280
$5,338,444
+34%
Total Expenses
$6,384,558
$8,249,038
+29%
Net income
2023
2024
Change
Net income
-$7,263
+$421,512
-5904%
Functional Expenses
Summary
2023
2024
Change
Program
$5,484,522
$7,298,486
+33%
Admin
$791,617
$640,520
-19%
Fundraising
$108,419
$310,032
+186%
Total Expenses
$6,384,558
$8,249,038
+29%
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