OPEN ARMS OF MINNESOTA
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$10,348,930
Government Grants
39%
Contributions
31%
Program Services
26%
Fundraising Events
4%
Other
<1%
Membership Dues
0%
Investments
0%
Expenses in 2024
$12,732,117
Salaries & Benefits
50%
Other
30%
Offices, Occupancy & IT
13%
Depreciation
4%
Fees to Service Providers
2%
Interest
<1%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$6,722,446
$3,248,017
-52%
Government Grants
$5,112,776
$4,002,674
-22%
Fundraising Events
$340,616
$399,985
+17%
Program Services
$2,462,708
$2,686,111
+9%
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$66,448
$12,143
-82%
Total Revenues
$14,704,994
$10,348,930
-30%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$5,689,250
$6,396,250
+12%
Fees to Service Providers
$547,209
$215,450
-61%
Advertising & Promotion
$0
$46,097
-
Offices, Occupancy & IT
$2,180,962
$1,699,268
-22%
Interest
$0
$108,213
-
Depreciation
$394,982
$472,716
+20%
Other
$4,519,433
$3,794,123
-16%
Total Expenses
$13,331,836
$12,732,117
-4%
Net income
2023
2024
Change
Net income
+$1,373,158
-$2,383,187
-274%
Functional Expenses
Summary
2023
2024
Change
Program
$11,313,938
$10,794,153
-5%
Admin
$580,540
$570,848
-2%
Fundraising
$1,437,358
$1,367,116
-5%
Total Expenses
$13,331,836
$12,732,117
-4%
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