SPECIAL OLYMPICS MICHIGAN INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$17,168,671
Contributions
63%
Fundraising Events
12%
Other
11%
Government Grants
10%
Investments
5%
Program Services
0%
Membership Dues
0%
Expenses in 2024
$10,353,146
Other
45%
Salaries & Benefits
37%
Offices, Occupancy & IT
10%
Fees to Service Providers
6%
Depreciation
1%
Advertising & Promotion
1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$10,352,538
$10,734,074
+4%
Government Grants
$1,182,326
$1,710,723
+45%
Fundraising Events
$1,751,214
$2,003,109
+14%
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$622,600
$849,387
+36%
Other
$1,533,278
$1,871,378
+22%
Total Revenues
$15,441,956
$17,168,671
+11%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$3,543,317
$3,838,757
+8%
Fees to Service Providers
$993,786
$580,330
-42%
Advertising & Promotion
$94,991
$121,432
+28%
Offices, Occupancy & IT
$890,583
$999,962
+12%
Interest
$1,371
$0
-100%
Depreciation
$132,211
$141,538
+7%
Other
$3,755,803
$4,671,127
+24%
Total Expenses
$9,412,062
$10,353,146
+10%
Net income
2023
2024
Change
Net income
+$6,029,894
+$6,815,525
+13%
Functional Expenses
Summary
2023
2024
Change
Program
$7,569,763
$8,798,044
+16%
Admin
$1,264,826
$266,624
-79%
Fundraising
$577,473
$1,288,478
+123%
Total Expenses
$9,412,062
$10,353,146
+10%
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