MINNESOTA HISTORICAL SOCIETY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$96,755,531
Government Grants
54%
Other
22%
Program Services
11%
Contributions
10%
Investments
4%
Membership Dues
<1%
Fundraising Events
0%
Expenses in 2024
$71,067,324
Salaries & Benefits
51%
Offices, Occupancy & IT
13%
Other
11%
Fees to Service Providers
11%
Grants
9%
Depreciation
4%
Advertising & Promotion
1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$26,061,288
$9,451,096
-64%
Government Grants
$50,491,464
$51,923,871
+3%
Fundraising Events
$0
$0
-
Program Services
$8,130,676
$10,302,352
+27%
Membership Dues
$770,614
$767,225
0%
Investments
$2,697,999
$3,495,913
+30%
Other
$3,342,315
$20,815,074
+523%
Total Revenues
$91,494,356
$96,755,531
+6%
Expenses
2023
2024
Change
Grants
$7,571,044
$6,621,098
-13%
Benefits to Members
$0
$0
-
Salaries & Benefits
$30,469,163
$36,043,065
+18%
Fees to Service Providers
$8,342,198
$7,816,302
-6%
Advertising & Promotion
$607,793
$769,893
+27%
Offices, Occupancy & IT
$8,942,238
$9,189,281
+3%
Interest
$40
$1,114
+2685%
Depreciation
$2,754,685
$2,781,498
+1%
Other
$7,063,258
$7,845,073
+11%
Total Expenses
$65,750,419
$71,067,324
+8%
Net income
2023
2024
Change
Net income
+$25,743,937
+$25,688,207
0%
Functional Expenses
Summary
2023
2024
Change
Program
$51,664,856
$56,912,095
+10%
Admin
$12,425,452
$11,842,631
-5%
Fundraising
$1,660,111
$2,312,598
+39%
Total Expenses
$65,750,419
$71,067,324
+8%
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