ROCKFORD ART MUSEUM
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$785,288
Government Grants
45%
Contributions
23%
Investments
15%
Fundraising Events
15%
Membership Dues
2%
Program Services
<1%
Other
<1%
Expenses in 2024
$577,850
Salaries & Benefits
36%
Fees to Service Providers
21%
Offices, Occupancy & IT
20%
Depreciation
13%
Other
6%
Advertising & Promotion
3%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$162,152
$178,326
+10%
Government Grants
$332,505
$349,565
+5%
Fundraising Events
$82,019
$114,300
+39%
Program Services
$10,416
$5,738
-45%
Membership Dues
$19,130
$17,340
-9%
Investments
$127,564
$116,943
-8%
Other
$30,863
$3,076
-90%
Total Revenues
$764,649
$785,288
+3%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$242,900
$210,139
-13%
Fees to Service Providers
$108,580
$123,028
+13%
Advertising & Promotion
$9,380
$16,454
+75%
Offices, Occupancy & IT
$80,450
$117,685
+46%
Interest
$80
$0
-100%
Depreciation
$91,950
$75,504
-18%
Other
$37,810
$35,040
-7%
Total Expenses
$571,150
$577,850
+1%
Net income
2023
2024
Change
Net income
+$193,499
+$207,438
+7%
Functional Expenses
Summary
2023
2024
Change
Program
$226,578
$259,660
+15%
Admin
$294,282
$247,010
-16%
Fundraising
$50,290
$71,180
+42%
Total Expenses
$571,150
$577,850
+1%
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