RACINE ART MUSEUM ASSOCIATION INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$1,979,918
Contributions
37%
Investments
21%
Government Grants
20%
Program Services
11%
Other
8%
Fundraising Events
3%
Membership Dues
0%
Expenses in 2024
$2,491,124
Salaries & Benefits
55%
Other
13%
Offices, Occupancy & IT
13%
Depreciation
10%
Fees to Service Providers
5%
Advertising & Promotion
4%
Grants
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$1,631,310
$738,330
-55%
Government Grants
$362,027
$391,016
+8%
Fundraising Events
$41,775
$55,500
+33%
Program Services
$302,813
$216,208
-29%
Membership Dues
$0
$0
-
Investments
$325,504
$420,419
+29%
Other
$160,391
$158,445
-1%
Total Revenues
$2,823,820
$1,979,918
-30%
Expenses
2023
2024
Change
Grants
$1,098
$1,222
+11%
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,296,600
$1,381,445
+7%
Fees to Service Providers
$66,290
$127,986
+93%
Advertising & Promotion
$76,905
$92,029
+20%
Offices, Occupancy & IT
$332,590
$317,644
-4%
Interest
$331
$0
-100%
Depreciation
$238,362
$241,435
+1%
Other
$252,744
$329,363
+30%
Total Expenses
$2,264,920
$2,491,124
+10%
Net income
2023
2024
Change
Net income
+$558,900
-$511,206
-191%
Functional Expenses
Summary
2023
2024
Change
Program
$1,540,207
$1,735,233
+13%
Admin
$469,537
$479,737
+2%
Fundraising
$255,176
$276,154
+8%
Total Expenses
$2,264,920
$2,491,124
+10%
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