MOTORSPORTS CHARITIES INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$5,303,865
Contributions
81%
Fundraising Events
10%
Investments
7%
Other
1%
Government Grants
0%
Program Services
0%
Membership Dues
0%
Expenses in 2024
$4,472,370
Grants
59%
Salaries & Benefits
19%
Advertising & Promotion
10%
Offices, Occupancy & IT
8%
Other
2%
Fees to Service Providers
2%
Benefits to Members
0%
Interest
0%
Depreciation
0%
Revenues
2023
2024
Change
Contributions
$4,071,943
$4,291,679
+5%
Government Grants
$0
$0
-
Fundraising Events
$490,303
$546,317
+11%
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$340,509
$389,565
+14%
Other
$59,032
$76,304
+29%
Total Revenues
$4,961,787
$5,303,865
+7%
Expenses
2023
2024
Change
Grants
$2,483,751
$2,627,259
+6%
Benefits to Members
$0
$0
-
Salaries & Benefits
$817,948
$868,854
+6%
Fees to Service Providers
$56,836
$67,344
+18%
Advertising & Promotion
$492,581
$455,691
-7%
Offices, Occupancy & IT
$251,622
$361,812
+44%
Interest
$0
$0
-
Depreciation
$0
$0
-
Other
$92,983
$91,410
-2%
Total Expenses
$4,195,721
$4,472,370
+7%
Net income
2023
2024
Change
Net income
+$766,066
+$831,495
+9%
Functional Expenses
Summary
2023
2024
Change
Program
$3,274,818
$3,466,058
+6%
Admin
$315,723
$414,259
+31%
Fundraising
$605,180
$592,053
-2%
Total Expenses
$4,195,721
$4,472,370
+7%
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