HOFFMAN INSTITUTE FOUNDATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$34,243,905
Contributions
65%
Program Services
33%
Investments
2%
Other
<1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$14,652,360
Salaries & Benefits
59%
Other
25%
Offices, Occupancy & IT
7%
Grants
6%
Fees to Service Providers
2%
Advertising & Promotion
1%
Depreciation
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$7,018,821
$22,262,837
+217%
Government Grants
$228,974
$0
-100%
Fundraising Events
$0
$0
-
Program Services
$10,564,035
$11,290,039
+7%
Membership Dues
$0
$0
-
Investments
$28,713
$689,634
+2302%
Other
$141,645
$1,395
-99%
Total Revenues
$17,982,188
$34,243,905
+90%
Expenses
2023
2024
Change
Grants
$5,286,423
$828,025
-84%
Benefits to Members
$0
$0
-
Salaries & Benefits
$7,214,237
$8,702,248
+21%
Fees to Service Providers
$183,581
$231,661
+26%
Advertising & Promotion
$121,846
$190,553
+56%
Offices, Occupancy & IT
$676,553
$975,335
+44%
Interest
$243,770
$4,617
-98%
Depreciation
$5,139
$5,139
+0%
Other
$3,239,684
$3,714,782
+15%
Total Expenses
$16,971,233
$14,652,360
-14%
Net income
2023
2024
Change
Net income
+$1,010,955
+$19,591,545
+1838%
Functional Expenses
Summary
2023
2024
Change
Program
$14,481,119
$11,609,073
-20%
Admin
$1,718,189
$1,969,242
+15%
Fundraising
$771,925
$1,074,045
+39%
Total Expenses
$16,971,233
$14,652,360
-14%
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