THE CLEVELAND INSTITUTE OF ART
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$37,891,281
Program Services
79%
Contributions
10%
Other
6%
Investments
4%
Government Grants
2%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$38,648,712
Grants
38%
Salaries & Benefits
34%
Offices, Occupancy & IT
10%
Depreciation
7%
Other
5%
Interest
2%
Fees to Service Providers
2%
Advertising & Promotion
2%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$11,907,185
$3,794,309
-68%
Government Grants
$1,032,856
$673,851
-35%
Fundraising Events
$0
$0
-
Program Services
$28,823,727
$29,759,170
+3%
Membership Dues
$0
$0
-
Investments
$1,287,403
$1,518,576
+18%
Other
$299,131
$2,145,375
+617%
Total Revenues
$43,350,302
$37,891,281
-13%
Expenses
2023
2024
Change
Grants
$13,668,384
$14,643,390
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$12,801,449
$12,953,520
+1%
Fees to Service Providers
$809,826
$741,109
-8%
Advertising & Promotion
$767,403
$709,527
-8%
Offices, Occupancy & IT
$3,646,594
$4,035,338
+11%
Interest
$860,710
$854,450
-1%
Depreciation
$2,679,664
$2,654,755
-1%
Other
$1,996,771
$2,056,623
+3%
Total Expenses
$37,230,801
$38,648,712
+4%
Net income
2023
2024
Change
Net income
+$6,119,501
-$757,431
-112%
Functional Expenses
Summary
2023
2024
Change
Program
$31,654,992
$33,617,633
+6%
Admin
$3,448,537
$3,240,663
-6%
Fundraising
$2,127,272
$1,790,416
-16%
Total Expenses
$37,230,801
$38,648,712
+4%
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