PROMISE DEVELOPMENT CORPORATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2023
$3,499,542
Contributions
61%
Program Services
37%
Government Grants
2%
Fundraising Events
0%
Membership Dues
0%
Investments
0%
Other
0%
Expenses in 2023
$3,450,236
Other
48%
Salaries & Benefits
25%
Offices, Occupancy & IT
17%
Depreciation
8%
Fees to Service Providers
<1%
Interest
<1%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2022
2023
Change
Contributions
$70,019
$2,151,079
+2972%
Government Grants
$2,962,745
$61,537
-98%
Fundraising Events
$0
$0
-
Program Services
$1,241,301
$1,286,926
+4%
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$3,500
$0
-100%
Total Revenues
$4,277,565
$3,499,542
-18%
Expenses
2022
2023
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$810,793
$863,251
+6%
Fees to Service Providers
$48,887
$33,319
-32%
Advertising & Promotion
$12,378
$6,884
-44%
Offices, Occupancy & IT
$455,998
$592,942
+30%
Interest
$31,157
$24,326
-22%
Depreciation
$263,509
$273,339
+4%
Other
$1,576,531
$1,656,175
+5%
Total Expenses
$3,199,253
$3,450,236
+8%
Net income
2022
2023
Change
Net income
+$1,078,312
+$49,306
-95%
Functional Expenses
Summary
2022
2023
Change
Program
$2,496,983
$2,736,782
+10%
Admin
$702,270
$713,454
+2%
Fundraising
$0
$0
-
Total Expenses
$3,199,253
$3,450,236
+8%
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