FORWARD SERVICE CORPORATION
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$30,470,618
Government Grants
92%
Other
5%
Contributions
2%
Investments
<1%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Expenses in 2024
$31,082,809
Salaries & Benefits
71%
Grants
18%
Offices, Occupancy & IT
7%
Other
3%
Fees to Service Providers
<1%
Depreciation
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$599,991
$635,359
+6%
Government Grants
$25,614,011
$28,067,030
+10%
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$153,005
$156,850
+3%
Other
$1,511,421
$1,611,379
+7%
Total Revenues
$27,878,428
$30,470,618
+9%
Expenses
2023
2024
Change
Grants
$4,712,315
$5,590,160
+19%
Benefits to Members
$0
$0
-
Salaries & Benefits
$21,605,807
$22,123,738
+2%
Fees to Service Providers
$137,536
$131,594
-4%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$2,199,444
$2,185,487
-1%
Interest
$0
$0
-
Depreciation
$100,218
$88,567
-12%
Other
$907,292
$963,263
+6%
Total Expenses
$29,662,612
$31,082,809
+5%
Net income
2023
2024
Change
Net income
-$1,784,184
-$612,191
+66%
Functional Expenses
Summary
2023
2024
Change
Program
$25,392,438
$26,630,443
+5%
Admin
$3,951,994
$4,098,066
+4%
Fundraising
$318,180
$354,300
+11%
Total Expenses
$29,662,612
$31,082,809
+5%
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