Historical Society of Michigan
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2025
$2,431,729
Program Services
45%
Contributions
41%
Government Grants
9%
Investments
4%
Other
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2025
$2,104,862
Salaries & Benefits
51%
Other
28%
Offices, Occupancy & IT
15%
Depreciation
3%
Grants
2%
Fees to Service Providers
<1%
Interest
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2024
2025
Change
Contributions
$527,221
$993,237
+88%
Government Grants
$70,000
$230,000
+229%
Fundraising Events
$0
$0
-
Program Services
$1,195,136
$1,093,213
-9%
Membership Dues
$0
$0
-
Investments
$61,910
$97,964
+58%
Other
$20,564
$17,315
-16%
Total Revenues
$1,874,831
$2,431,729
+30%
Expenses
2024
2025
Change
Grants
$26,015
$50,569
+94%
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,036,571
$1,073,191
+4%
Fees to Service Providers
$26,860
$18,608
-31%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$329,430
$322,882
-2%
Interest
$0
$3
-
Depreciation
$60,224
$54,658
-9%
Other
$465,632
$584,951
+26%
Total Expenses
$1,944,732
$2,104,862
+8%
Net income
2024
2025
Change
Net income
-$69,901
+$326,867
-568%
Functional Expenses
Summary
2024
2025
Change
Program
$1,559,687
$1,718,672
+10%
Admin
$339,478
$344,644
+2%
Fundraising
$45,567
$41,546
-9%
Total Expenses
$1,944,732
$2,104,862
+8%
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