Cleveland Museum of Art
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$129,112,072
Contributions
52%
Other
36%
Investments
7%
Government Grants
3%
Membership Dues
1%
Program Services
1%
Fundraising Events
0%
Expenses in 2024
$82,988,778
Other
35%
Salaries & Benefits
33%
Depreciation
14%
Fees to Service Providers
9%
Offices, Occupancy & IT
6%
Interest
2%
Advertising & Promotion
<1%
Grants
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$28,717,317
$67,564,254
+135%
Government Grants
$1,983,117
$3,368,903
+70%
Fundraising Events
$0
$0
-
Program Services
$1,943,549
$1,417,353
-27%
Membership Dues
$1,694,195
$1,625,135
-4%
Investments
$6,433,503
$8,601,298
+34%
Other
$62,129,467
$46,535,129
-25%
Total Revenues
$102,901,148
$129,112,072
+25%
Expenses
2023
2024
Change
Grants
$34,920
$12,367
-65%
Benefits to Members
$0
$0
-
Salaries & Benefits
$24,838,450
$27,121,944
+9%
Fees to Service Providers
$6,503,936
$7,076,331
+9%
Advertising & Promotion
$636,088
$826,081
+30%
Offices, Occupancy & IT
$4,930,253
$5,233,995
+6%
Interest
$1,868,560
$1,824,810
-2%
Depreciation
$11,755,252
$11,998,941
+2%
Other
$18,101,761
$28,894,309
+60%
Total Expenses
$68,669,220
$82,988,778
+21%
Net income
2023
2024
Change
Net income
+$34,231,928
+$46,123,294
+35%
Functional Expenses
Summary
2023
2024
Change
Program
$54,160,983
$67,137,472
+24%
Admin
$9,816,455
$10,469,935
+7%
Fundraising
$4,691,782
$5,381,371
+15%
Total Expenses
$68,669,220
$82,988,778
+21%
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