INVEST DETROIT FOUNDATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$32,419,547
Contributions
56%
Program Services
20%
Government Grants
17%
Investments
6%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$22,165,504
Other
44%
Salaries & Benefits
39%
Fees to Service Providers
6%
Interest
4%
Grants
3%
Offices, Occupancy & IT
1%
Depreciation
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$22,147,544
$18,299,245
-17%
Government Grants
$300,000
$5,657,748
+1786%
Fundraising Events
$0
$0
-
Program Services
$5,632,947
$6,447,619
+14%
Membership Dues
$0
$0
-
Investments
$1,484,354
$2,014,935
+36%
Other
$0
$0
-
Total Revenues
$29,564,845
$32,419,547
+10%
Expenses
2023
2024
Change
Grants
$1,470,595
$766,460
-48%
Benefits to Members
$0
$0
-
Salaries & Benefits
$7,752,413
$8,673,931
+12%
Fees to Service Providers
$1,585,515
$1,395,747
-12%
Advertising & Promotion
$188,166
$137,467
-27%
Offices, Occupancy & IT
$347,716
$314,689
-9%
Interest
$607,317
$948,523
+56%
Depreciation
$63,022
$174,390
+177%
Other
$2,276,331
$9,754,297
+329%
Total Expenses
$14,291,075
$22,165,504
+55%
Net income
2023
2024
Change
Net income
+$15,273,770
+$10,254,043
-33%
Functional Expenses
Summary
2023
2024
Change
Program
$9,675,604
$17,209,196
+78%
Admin
$4,615,471
$4,956,308
+7%
Fundraising
$0
$0
-
Total Expenses
$14,291,075
$22,165,504
+55%
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