EMPOWER SCHOLARSHIP FUND
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$839,294
Contributions
88%
Other
6%
Investments
6%
Government Grants
0%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Expenses in 2024
$684,369
Grants
62%
Salaries & Benefits
31%
Other
7%
Offices, Occupancy & IT
<1%
Benefits to Members
0%
Fees to Service Providers
0%
Advertising & Promotion
0%
Interest
0%
Depreciation
0%
Revenues
2023
2024
Change
Contributions
$657,543
$738,547
+12%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$42,382
$50,008
+18%
Other
-$1,259
$50,739
-4130%
Total Revenues
$698,666
$839,294
+20%
Expenses
2023
2024
Change
Grants
$406,871
$421,000
+3%
Benefits to Members
$0
$0
-
Salaries & Benefits
$189,805
$213,860
+13%
Fees to Service Providers
$0
$0
-
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$5,699
$1,208
-79%
Interest
$0
$0
-
Depreciation
$0
$0
-
Other
$29,698
$48,301
+63%
Total Expenses
$632,073
$684,369
+8%
Net income
2023
2024
Change
Net income
+$66,593
+$154,925
+133%
Functional Expenses
Summary
2023
2024
Change
Program
$601,575
$541,767
-10%
Admin
$27,698
$81,120
+193%
Fundraising
$2,800
$61,482
+2096%
Total Expenses
$632,073
$684,369
+8%
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