MINNEAPOLIS SOCIETY OF FINE ARTS DBA MINNEAPOLIS INSTITUTE OF ARTS

MINNEAPOLIS SOCIETY OF FINE ARTS DBA MINNEAPOLIS INSTITUTE OF ARTS

MINNEAPOLIS, MN, US
501(c)(3)
EIN
41-0693915

MINNEAPOLIS SOCIETY OF FINE ARTS DBA MINNEAPOLIS INSTITUTE OF ARTS

MINNEAPOLIS, MN, US
501(c)(3)
EIN
41-0693915

Income Statement

Fiscal Year Start:
Jul 1
Revenues in 2024

$49,760,749

Government Grants
37%
Contributions
23%
Other
16%
Investments
13%
Program Services
6%
Membership Dues
4%
Fundraising Events
<1%
Expenses in 2024

$46,956,667

Salaries & Benefits
46%
Other
16%
Fees to Service Providers
16%
Offices, Occupancy & IT
15%
Depreciation
5%
Advertising & Promotion
2%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$29,806,869
$11,576,829
-61%
Government Grants
$17,216,804
$18,529,623
+8%
Fundraising Events
$67,501
$82,405
+22%
Program Services
$3,377,885
$2,957,573
-12%
Membership Dues
$1,846,959
$1,852,666
+0%
Investments
$6,284,168
$6,583,720
+5%
Other
$5,303,484
$8,177,933
+54%
Total Revenues
$63,903,670
$49,760,749
-22%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$20,401,457
$21,666,123
+6%
Fees to Service Providers
$7,772,791
$7,294,853
-6%
Advertising & Promotion
$638,951
$781,792
+22%
Offices, Occupancy & IT
$6,720,517
$6,938,806
+3%
Interest
$0
$0
-
Depreciation
$2,651,828
$2,570,700
-3%
Other
$12,596,481
$7,704,393
-39%
Total Expenses
$50,782,025
$46,956,667
-8%
Net income
2023
2024
Change
Net income
+$13,121,645
+$2,804,082
-79%
Functional Expenses
Summary
2023
2024
Change
Program
$41,144,852
$36,865,705
-10%
Admin
$7,229,505
$7,752,773
+7%
Fundraising
$2,407,668
$2,338,189
-3%
Total Expenses
$50,782,025
$46,956,667
-8%
Income Statement
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