DETROIT ECONOMIC GROWTH ASSOCIATION
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$6,597,694
Program Services
56%
Contributions
27%
Government Grants
16%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$8,094,902
Fees to Service Providers
42%
Other
39%
Advertising & Promotion
11%
Grants
5%
Offices, Occupancy & IT
2%
Depreciation
<1%
Benefits to Members
0%
Salaries & Benefits
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$3,194,439
$1,804,343
-44%
Government Grants
$1,061,847
$1,062,231
+0%
Fundraising Events
$0
$0
-
Program Services
$16,918
$3,701,390
+21778%
Membership Dues
$0
$0
-
Investments
$35,574
$29,730
-16%
Other
$0
$0
-
Total Revenues
$4,308,778
$6,597,694
+53%
Expenses
2023
2024
Change
Grants
$97,533
$431,063
+342%
Benefits to Members
$0
$0
-
Salaries & Benefits
$0
$0
-
Fees to Service Providers
$1,995,750
$3,403,318
+71%
Advertising & Promotion
$73,723
$911,654
+1137%
Offices, Occupancy & IT
$74,904
$174,230
+133%
Interest
$0
$0
-
Depreciation
$10,637
$31,912
+200%
Other
$2,118,490
$3,142,725
+48%
Total Expenses
$4,371,037
$8,094,902
+85%
Net income
2023
2024
Change
Net income
-$62,259
-$1,497,208
-2305%
Functional Expenses
Summary
2023
2024
Change
Program
$3,847,890
$7,556,707
+96%
Admin
$523,147
$436,195
-17%
Fundraising
$0
$102,000
-
Total Expenses
$4,371,037
$8,094,902
+85%
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