BAINBRIDGE ISLAND MUSEUM OF ART
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$4,992,242
Contributions
61%
Fundraising Events
14%
Other
10%
Investments
7%
Membership Dues
4%
Program Services
2%
Government Grants
2%
Expenses in 2024
$4,018,494
Salaries & Benefits
65%
Other
13%
Depreciation
8%
Offices, Occupancy & IT
7%
Fees to Service Providers
3%
Advertising & Promotion
3%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$1,914,115
$3,048,434
+59%
Government Grants
$41,800
$80,893
+94%
Fundraising Events
$541,531
$693,950
+28%
Program Services
$79,234
$119,076
+50%
Membership Dues
$195,065
$198,795
+2%
Investments
$259,154
$341,058
+32%
Other
$423
$510,036
+120476%
Total Revenues
$3,031,322
$4,992,242
+65%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,329,948
$2,631,732
+13%
Fees to Service Providers
$114,291
$139,745
+22%
Advertising & Promotion
$89,223
$105,164
+18%
Offices, Occupancy & IT
$337,292
$282,273
-16%
Interest
$0
$0
-
Depreciation
$331,079
$341,366
+3%
Other
$779,269
$518,214
-33%
Total Expenses
$3,981,102
$4,018,494
+1%
Net income
2023
2024
Change
Net income
-$949,780
+$973,748
-203%
Functional Expenses
Summary
2023
2024
Change
Program
$2,196,857
$2,150,274
-2%
Admin
$686,314
$1,190,308
+73%
Fundraising
$1,097,931
$677,912
-38%
Total Expenses
$3,981,102
$4,018,494
+1%
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