MINNESOTA RURAL WATER ASSOCIATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$4,850,312
Government Grants
62%
Program Services
22%
Membership Dues
12%
Investments
3%
Other
1%
Contributions
<1%
Fundraising Events
0%
Expenses in 2024
$4,408,795
Salaries & Benefits
72%
Other
20%
Offices, Occupancy & IT
3%
Depreciation
3%
Fees to Service Providers
<1%
Advertising & Promotion
<1%
Grants
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$8,307
$14,192
+71%
Government Grants
$2,581,606
$2,995,974
+16%
Fundraising Events
$0
$0
-
Program Services
$907,631
$1,077,237
+19%
Membership Dues
$559,027
$572,556
+2%
Investments
$64,724
$125,390
+94%
Other
$57,810
$64,963
+12%
Total Revenues
$4,179,105
$4,850,312
+16%
Expenses
2023
2024
Change
Grants
$1,000
$1,000
+0%
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,887,317
$3,191,401
+11%
Fees to Service Providers
$29,550
$35,715
+21%
Advertising & Promotion
$6,582
$11,102
+69%
Offices, Occupancy & IT
$121,110
$149,639
+24%
Interest
$0
$0
-
Depreciation
$104,997
$131,785
+26%
Other
$701,350
$888,153
+27%
Total Expenses
$3,851,906
$4,408,795
+14%
Net income
2023
2024
Change
Net income
+$327,199
+$441,517
+35%
Functional Expenses
Summary
2023
2024
Change
Program
$3,218,220
$3,665,948
+14%
Admin
$633,686
$742,847
+17%
Fundraising
$0
$0
-
Total Expenses
$3,851,906
$4,408,795
+14%
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