THE HOSPITALITY HUB OF MEMPHIS
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$6,044,075
Government Grants
72%
Contributions
27%
Other
<1%
Investments
<1%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Expenses in 2024
$6,302,553
Salaries & Benefits
39%
Fees to Service Providers
37%
Other
11%
Offices, Occupancy & IT
7%
Depreciation
6%
Interest
<1%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$1,873,930
$1,609,141
-14%
Government Grants
$5,041,089
$4,353,807
-14%
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$0
$33,603
-
Other
-$87,214
$47,524
-154%
Total Revenues
$6,827,805
$6,044,075
-11%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,647,855
$2,446,944
-8%
Fees to Service Providers
$2,157,712
$2,309,738
+7%
Advertising & Promotion
$11,909
$10,979
-8%
Offices, Occupancy & IT
$521,937
$436,354
-16%
Interest
$4,374
$11,651
+166%
Depreciation
$370,777
$382,532
+3%
Other
$544,608
$704,355
+29%
Total Expenses
$6,259,172
$6,302,553
+1%
Net income
2023
2024
Change
Net income
+$568,633
-$258,478
-145%
Functional Expenses
Summary
2023
2024
Change
Program
$5,831,794
$4,551,062
-22%
Admin
$427,378
$466,980
+9%
Fundraising
$0
$1,284,511
-
Total Expenses
$6,259,172
$6,302,553
+1%
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