The Independence Fund Inc
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$6,146,293
Contributions
61%
Government Grants
37%
Other
1%
Investments
<1%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Expenses in 2024
$9,763,455
Salaries & Benefits
45%
Other
22%
Fees to Service Providers
15%
Grants
10%
Offices, Occupancy & IT
6%
Advertising & Promotion
2%
Depreciation
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$10,092,596
$3,767,739
-63%
Government Grants
$1,500,000
$2,250,000
+50%
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$819,755
$52,419
-94%
Other
$63,299
$76,135
+20%
Total Revenues
$12,475,650
$6,146,293
-51%
Expenses
2023
2024
Change
Grants
$1,178,662
$978,740
-17%
Benefits to Members
$0
$0
-
Salaries & Benefits
$4,169,057
$4,391,519
+5%
Fees to Service Providers
$3,207,641
$1,436,716
-55%
Advertising & Promotion
$318,502
$209,914
-34%
Offices, Occupancy & IT
$1,048,711
$549,805
-48%
Interest
$32,706
$0
-100%
Depreciation
$240,509
$46,486
-81%
Other
$3,111,869
$2,150,275
-31%
Total Expenses
$13,307,657
$9,763,455
-27%
Net income
2023
2024
Change
Net income
-$832,007
-$3,617,162
-335%
Functional Expenses
Summary
2023
2024
Change
Program
$10,037,538
$6,386,916
-36%
Admin
$2,267,657
$3,164,744
+40%
Fundraising
$1,002,462
$211,795
-79%
Total Expenses
$13,307,657
$9,763,455
-27%
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