WEST MIDLAND FAMILY CENTER
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$9,228,537
Contributions
66%
Government Grants
15%
Other
14%
Program Services
3%
Investments
2%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$6,676,473
Salaries & Benefits
44%
Grants
36%
Depreciation
7%
Offices, Occupancy & IT
5%
Other
4%
Fees to Service Providers
3%
Advertising & Promotion
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$3,121,564
$6,084,435
+95%
Government Grants
$1,263,573
$1,366,859
+8%
Fundraising Events
$0
$0
-
Program Services
$275,205
$269,325
-2%
Membership Dues
$0
$0
-
Investments
$240,270
$203,003
-16%
Other
$58,796
$1,304,915
+2119%
Total Revenues
$4,959,408
$9,228,537
+86%
Expenses
2023
2024
Change
Grants
$1,963,695
$2,409,432
+23%
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,855,246
$2,945,786
+3%
Fees to Service Providers
$166,278
$221,424
+33%
Advertising & Promotion
$19,904
$32,693
+64%
Offices, Occupancy & IT
$465,625
$358,132
-23%
Interest
$0
$0
-
Depreciation
$416,612
$468,519
+12%
Other
$221,223
$240,487
+9%
Total Expenses
$6,108,583
$6,676,473
+9%
Net income
2023
2024
Change
Net income
-$1,149,175
+$2,552,064
-322%
Functional Expenses
Summary
2023
2024
Change
Program
$5,787,049
$6,339,436
+10%
Admin
$321,534
$337,037
+5%
Fundraising
$0
$0
-
Total Expenses
$6,108,583
$6,676,473
+9%
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