MUSKEGON MUSEUM OF ART FOUNDATION
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2025
$3,958,677
Contributions
72%
Program Services
10%
Other
9%
Investments
4%
Membership Dues
3%
Government Grants
<1%
Fundraising Events
<1%
Expenses in 2025
$2,742,863
Salaries & Benefits
42%
Offices, Occupancy & IT
19%
Other
14%
Depreciation
11%
Advertising & Promotion
8%
Fees to Service Providers
6%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2024
2025
Change
Contributions
$1,472,257
$2,864,153
+95%
Government Grants
$19,200
$36,634
+91%
Fundraising Events
$8,366
$11,665
+39%
Program Services
$313,350
$389,702
+24%
Membership Dues
$113,680
$132,571
+17%
Investments
$365,889
$157,595
-57%
Other
$405,838
$366,357
-10%
Total Revenues
$2,698,580
$3,958,677
+47%
Expenses
2024
2025
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$988,213
$1,143,725
+16%
Fees to Service Providers
$163,954
$166,644
+2%
Advertising & Promotion
$110,202
$227,930
+107%
Offices, Occupancy & IT
$325,976
$508,203
+56%
Interest
$0
$17,470
-
Depreciation
$113,177
$289,372
+156%
Other
$219,374
$389,519
+78%
Total Expenses
$1,920,896
$2,742,863
+43%
Net income
2024
2025
Change
Net income
+$777,684
+$1,215,814
+56%
Functional Expenses
Summary
2024
2025
Change
Program
$1,458,612
$2,166,407
+49%
Admin
$291,809
$335,428
+15%
Fundraising
$170,475
$241,028
+41%
Total Expenses
$1,920,896
$2,742,863
+43%
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