NORTHWEST MICHIGAN WORKS INC
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$5,871,269
Government Grants
89%
Contributions
9%
Investments
1%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$5,847,941
Salaries & Benefits
67%
Fees to Service Providers
19%
Offices, Occupancy & IT
10%
Other
4%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Interest
0%
Depreciation
0%
Revenues
2023
2024
Change
Contributions
$325,020
$554,886
+71%
Government Grants
$4,899,361
$5,247,131
+7%
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$21,011
$69,252
+230%
Other
$0
$0
-
Total Revenues
$5,245,392
$5,871,269
+12%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$3,588,104
$3,929,649
+10%
Fees to Service Providers
$977,448
$1,134,255
+16%
Advertising & Promotion
$7,057
$7,179
+2%
Offices, Occupancy & IT
$515,499
$560,885
+9%
Interest
$0
$0
-
Depreciation
$0
$0
-
Other
$163,787
$215,973
+32%
Total Expenses
$5,251,895
$5,847,941
+11%
Net income
2023
2024
Change
Net income
-$6,503
+$23,328
-459%
Functional Expenses
Summary
2023
2024
Change
Program
$5,212,100
$5,842,891
+12%
Admin
$39,795
$5,050
-87%
Fundraising
$0
$0
-
Total Expenses
$5,251,895
$5,847,941
+11%
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