FIRST IN MICHIGAN
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$3,575,420
Contributions
64%
Program Services
32%
Investments
3%
Other
1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$3,190,148
Other
88%
Salaries & Benefits
10%
Fees to Service Providers
2%
Offices, Occupancy & IT
<1%
Depreciation
<1%
Grants
0%
Benefits to Members
0%
Advertising & Promotion
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$1,902,096
$2,277,450
+20%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$1,142,942
$1,146,824
+0%
Membership Dues
$0
$0
-
Investments
$49,436
$105,984
+114%
Other
$10,296
$45,162
+339%
Total Revenues
$3,104,770
$3,575,420
+15%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$290,203
$305,042
+5%
Fees to Service Providers
$22,958
$48,000
+109%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$24,681
$22,919
-7%
Interest
$0
$0
-
Depreciation
$20,726
$19,318
-7%
Other
$2,518,465
$2,794,869
+11%
Total Expenses
$2,877,033
$3,190,148
+11%
Net income
2023
2024
Change
Net income
+$227,737
+$385,272
+69%
Functional Expenses
Summary
2023
2024
Change
Program
$2,642,636
$2,924,797
+11%
Admin
$190,866
$219,595
+15%
Fundraising
$43,531
$45,756
+5%
Total Expenses
$2,877,033
$3,190,148
+11%
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