Lenawee Economic Development CorpPub 78
Pub 78
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$1,405,347
Government Grants
71%
Investments
18%
Contributions
7%
Program Services
4%
Other
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$1,562,163
Fees to Service Providers
53%
Salaries & Benefits
35%
Other
5%
Advertising & Promotion
4%
Offices, Occupancy & IT
3%
Interest
<1%
Depreciation
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$192,600
$96,727
-50%
Government Grants
$2,876,343
$995,562
-65%
Fundraising Events
$20,750
$1,500
-93%
Program Services
$54,463
$59,324
+9%
Membership Dues
$0
$0
-
Investments
$244,758
$249,096
+2%
Other
$99,532
$3,138
-97%
Total Revenues
$3,488,446
$1,405,347
-60%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$468,534
$546,555
+17%
Fees to Service Providers
$2,736,137
$830,151
-70%
Advertising & Promotion
$72,578
$58,184
-20%
Offices, Occupancy & IT
$53,485
$48,349
-10%
Interest
$1,338
$1,315
-2%
Depreciation
$1,270
$1,151
-9%
Other
$70,403
$76,458
+9%
Total Expenses
$3,403,745
$1,562,163
-54%
Net income
2023
2024
Change
Net income
+$84,701
-$156,816
-285%
Functional Expenses
Summary
2023
2024
Change
Program
$2,345,226
$1,336,347
-43%
Admin
$877,162
$188,035
-79%
Fundraising
$181,357
$37,781
-79%
Total Expenses
$3,403,745
$1,562,163
-54%
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