THE DETROIT INSTITUTE OF ARTS
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$100,752,992
Contributions
37%
Government Grants
36%
Other
10%
Investments
9%
Membership Dues
3%
Program Services
3%
Fundraising Events
2%
Expenses in 2024
$57,978,075
Salaries & Benefits
47%
Other
31%
Fees to Service Providers
15%
Offices, Occupancy & IT
5%
Depreciation
2%
Advertising & Promotion
<1%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$21,655,291
$36,892,445
+70%
Government Grants
$26,629,032
$35,916,119
+35%
Fundraising Events
$2,264,353
$2,139,772
-6%
Program Services
$5,877,441
$3,060,788
-48%
Membership Dues
$4,068,457
$3,307,809
-19%
Investments
$6,337,598
$9,282,964
+46%
Other
$4,411,267
$10,153,095
+130%
Total Revenues
$71,243,439
$100,752,992
+41%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$24,909,551
$27,087,170
+9%
Fees to Service Providers
$8,625,877
$8,775,750
+2%
Advertising & Promotion
$668,738
$399,406
-40%
Offices, Occupancy & IT
$3,282,923
$2,791,470
-15%
Interest
$111,983
$104,092
-7%
Depreciation
$1,000,302
$1,081,177
+8%
Other
$19,033,702
$17,739,010
-7%
Total Expenses
$57,633,076
$57,978,075
+1%
Net income
2023
2024
Change
Net income
+$13,610,363
+$42,774,917
+214%
Functional Expenses
Summary
2023
2024
Change
Program
$41,032,082
$39,542,055
-4%
Admin
$12,752,308
$14,472,049
+13%
Fundraising
$3,848,686
$3,963,971
+3%
Total Expenses
$57,633,076
$57,978,075
+1%
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