Michigan Philharmonic
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$506,995
Program Services
54%
Contributions
42%
Fundraising Events
4%
Government Grants
0%
Membership Dues
0%
Investments
0%
Other
0%
Expenses in 2024
$559,014
Other
68%
Offices, Occupancy & IT
17%
Salaries & Benefits
12%
Fees to Service Providers
2%
Advertising & Promotion
<1%
Interest
<1%
Grants
0%
Benefits to Members
0%
Depreciation
0%
Revenues
2023
2024
Change
Contributions
$230,814
$215,021
-7%
Government Grants
$0
$0
-
Fundraising Events
$29,968
$19,652
-34%
Program Services
$206,444
$272,322
+32%
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$2,877
$0
-100%
Total Revenues
$470,103
$506,995
+8%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$61,989
$69,095
+11%
Fees to Service Providers
$12,496
$12,408
-1%
Advertising & Promotion
$4,706
$4,326
-8%
Offices, Occupancy & IT
$94,002
$94,032
+0%
Interest
$121
$966
+698%
Depreciation
$0
$0
-
Other
$332,342
$378,187
+14%
Total Expenses
$505,656
$559,014
+11%
Net income
2023
2024
Change
Net income
-$35,553
-$52,019
-46%
Functional Expenses
Summary
2023
2024
Change
Program
$410,644
$461,264
+12%
Admin
$84,516
$81,403
-4%
Fundraising
$10,496
$16,347
+56%
Total Expenses
$505,656
$559,014
+11%
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