THE TOLEDO MUSEUM OF ART
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$26,811,697
Contributions
38%
Other
25%
Program Services
13%
Investments
12%
Government Grants
6%
Membership Dues
6%
Fundraising Events
0%
Expenses in 2024
$45,545,663
Other
55%
Salaries & Benefits
29%
Depreciation
6%
Fees to Service Providers
6%
Offices, Occupancy & IT
3%
Advertising & Promotion
<1%
Grants
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$9,055,697
$10,130,792
+12%
Government Grants
$911,683
$1,634,125
+79%
Fundraising Events
$0
$0
-
Program Services
$52,358,323
$3,476,810
-93%
Membership Dues
$1,598,939
$1,564,906
-2%
Investments
$2,853,329
$3,301,805
+16%
Other
$5,250,682
$6,703,259
+28%
Total Revenues
$72,028,653
$26,811,697
-63%
Expenses
2023
2024
Change
Grants
$120,743
$115,305
-5%
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,920,226
$13,197,877
+352%
Fees to Service Providers
$3,161,172
$2,593,261
-18%
Advertising & Promotion
$188,380
$362,589
+92%
Offices, Occupancy & IT
$987,092
$1,396,196
+41%
Interest
$170,595
$95,982
-44%
Depreciation
$2,719,617
$2,895,708
+6%
Other
$19,310,197
$24,888,745
+29%
Total Expenses
$29,578,022
$45,545,663
+54%
Net income
2023
2024
Change
Net income
+$42,450,631
-$18,733,966
-144%
Functional Expenses
Summary
2023
2024
Change
Program
$23,947,725
$38,986,335
+63%
Admin
$3,796,824
$4,470,135
+18%
Fundraising
$1,833,473
$2,089,193
+14%
Total Expenses
$29,578,022
$45,545,663
+54%
Copyright 2026. All rights reserved to Chario Inc. (d.b.a. Impala)