MICHIGAN ABILITY PARTNERS
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$3,402,566
Government Grants
78%
Program Services
14%
Contributions
7%
Other
<1%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$3,460,625
Salaries & Benefits
43%
Other
40%
Offices, Occupancy & IT
10%
Depreciation
4%
Fees to Service Providers
3%
Interest
<1%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$503,746
$244,511
-51%
Government Grants
$2,366,322
$2,657,277
+12%
Fundraising Events
$0
$0
-
Program Services
$498,665
$485,233
-3%
Membership Dues
$0
$0
-
Investments
$3,218
$5,569
+73%
Other
$2,764
$9,976
+261%
Total Revenues
$3,374,715
$3,402,566
+1%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,459,743
$1,480,537
+1%
Fees to Service Providers
$60,564
$95,660
+58%
Advertising & Promotion
$0
$150
-
Offices, Occupancy & IT
$174,449
$337,848
+94%
Interest
$885
$626
-29%
Depreciation
$147,553
$147,553
+0%
Other
$1,507,838
$1,398,251
-7%
Total Expenses
$3,351,032
$3,460,625
+3%
Net income
2023
2024
Change
Net income
+$23,683
-$58,059
-345%
Functional Expenses
Summary
2023
2024
Change
Program
$3,169,520
$3,095,247
-2%
Admin
$52,630
$273,504
+420%
Fundraising
$128,882
$91,874
-29%
Total Expenses
$3,351,032
$3,460,625
+3%
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