GRAMMY MUSEUM FOUNDATION INC
Income Statement
Fiscal Year Start:
Aug 1
Revenues in 2024
$16,655,780
Contributions
64%
Program Services
19%
Other
14%
Government Grants
1%
Membership Dues
1%
Investments
<1%
Fundraising Events
<1%
Expenses in 2024
$17,334,940
Salaries & Benefits
39%
Other
23%
Offices, Occupancy & IT
20%
Fees to Service Providers
8%
Depreciation
6%
Advertising & Promotion
2%
Grants
2%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$7,699,425
$10,590,956
+38%
Government Grants
$492,284
$225,000
-54%
Fundraising Events
$0
$20,471
-
Program Services
$3,640,484
$3,152,998
-13%
Membership Dues
$188,847
$222,850
+18%
Investments
$154,285
$145,515
-6%
Other
$1,893,741
$2,297,990
+21%
Total Revenues
$14,069,066
$16,655,780
+18%
Expenses
2023
2024
Change
Grants
$138,840
$270,500
+95%
Benefits to Members
$0
$0
-
Salaries & Benefits
$6,059,336
$6,694,768
+10%
Fees to Service Providers
$1,489,154
$1,465,680
-2%
Advertising & Promotion
$369,970
$321,465
-13%
Offices, Occupancy & IT
$3,290,696
$3,455,627
+5%
Interest
$49,555
$47,507
-4%
Depreciation
$1,162,055
$1,048,448
-10%
Other
$3,922,820
$4,030,945
+3%
Total Expenses
$16,482,426
$17,334,940
+5%
Net income
2023
2024
Change
Net income
-$2,413,360
-$679,160
+72%
Functional Expenses
Summary
2023
2024
Change
Program
$12,198,246
$13,469,579
+10%
Admin
$2,750,430
$2,490,212
-9%
Fundraising
$1,533,750
$1,375,149
-10%
Total Expenses
$16,482,426
$17,334,940
+5%
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