DETROIT ECONOMIC GROWTH CORPORATIONPub 78
Pub 78
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$10,364,824
Program Services
96%
Investments
4%
Contributions
0%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$10,446,492
Salaries & Benefits
83%
Other
6%
Offices, Occupancy & IT
6%
Fees to Service Providers
2%
Advertising & Promotion
2%
Depreciation
<1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$0
$0
-
Government Grants
$365,000
$0
-100%
Fundraising Events
$0
$0
-
Program Services
$8,935,095
$9,987,019
+12%
Membership Dues
$0
$0
-
Investments
$191,933
$377,805
+97%
Other
$0
$0
-
Total Revenues
$9,492,028
$10,364,824
+9%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$7,564,207
$8,669,564
+15%
Fees to Service Providers
$196,640
$249,952
+27%
Advertising & Promotion
$192,315
$186,786
-3%
Offices, Occupancy & IT
$630,501
$631,678
+0%
Interest
$0
$0
-
Depreciation
$69,340
$65,080
-6%
Other
$887,646
$643,432
-28%
Total Expenses
$9,540,649
$10,446,492
+9%
Net income
2023
2024
Change
Net income
-$48,621
-$81,668
-68%
Functional Expenses
Summary
2023
2024
Change
Program
$7,949,091
$8,808,730
+11%
Admin
$1,591,558
$1,637,762
+3%
Fundraising
$0
$0
-
Total Expenses
$9,540,649
$10,446,492
+9%
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