FOOD BANK OF EASTERN MICHIGAN
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$75,970,828
Contributions
57%
Government Grants
37%
Program Services
4%
Investments
<1%
Other
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$77,945,647
Grants
89%
Salaries & Benefits
7%
Other
1%
Depreciation
1%
Offices, Occupancy & IT
1%
Fees to Service Providers
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$40,723,513
$43,651,362
+7%
Government Grants
$15,366,693
$27,922,362
+82%
Fundraising Events
$43,340
$64,636
+49%
Program Services
$3,831,509
$3,256,586
-15%
Membership Dues
$0
$0
-
Investments
$668,329
$663,395
-1%
Other
$221,408
$412,487
+86%
Total Revenues
$60,854,792
$75,970,828
+25%
Expenses
2023
2024
Change
Grants
$55,297,982
$69,139,738
+25%
Benefits to Members
$0
$0
-
Salaries & Benefits
$5,099,378
$5,655,163
+11%
Fees to Service Providers
$240,126
$288,234
+20%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$754,024
$800,940
+6%
Interest
$0
$0
-
Depreciation
$879,920
$945,555
+7%
Other
$1,074,664
$1,116,017
+4%
Total Expenses
$63,346,094
$77,945,647
+23%
Net income
2023
2024
Change
Net income
-$2,491,302
-$1,974,819
+21%
Functional Expenses
Summary
2023
2024
Change
Program
$61,801,556
$76,363,089
+24%
Admin
$863,532
$912,671
+6%
Fundraising
$681,006
$669,887
-2%
Total Expenses
$63,346,094
$77,945,647
+23%
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