MINNESOTA ASSISTANCE COUNCIL FOR VETERANS
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$26,402,425
Government Grants
69%
Contributions
25%
Program Services
4%
Investments
<1%
Other
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$21,188,581
Salaries & Benefits
48%
Other
33%
Offices, Occupancy & IT
11%
Depreciation
5%
Fees to Service Providers
2%
Advertising & Promotion
<1%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,382,155
$6,659,175
+24%
Government Grants
$19,993,879
$18,342,184
-8%
Fundraising Events
$47,838
$36,748
-23%
Program Services
$723,131
$1,161,618
+61%
Membership Dues
$0
$0
-
Investments
$98,088
$108,196
+10%
Other
$486,549
$94,504
-81%
Total Revenues
$26,731,640
$26,402,425
-1%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$8,646,181
$10,272,266
+19%
Fees to Service Providers
$498,586
$321,704
-35%
Advertising & Promotion
$141,862
$208,407
+47%
Offices, Occupancy & IT
$2,261,110
$2,269,136
+0%
Interest
$129,133
$159,268
+23%
Depreciation
$693,905
$1,012,278
+46%
Other
$7,334,307
$6,945,522
-5%
Total Expenses
$19,705,084
$21,188,581
+8%
Net income
2023
2024
Change
Net income
+$7,026,556
+$5,213,844
-26%
Functional Expenses
Summary
2023
2024
Change
Program
$16,900,050
$18,424,042
+9%
Admin
$1,964,852
$1,850,293
-6%
Fundraising
$840,182
$914,246
+9%
Total Expenses
$19,705,084
$21,188,581
+8%
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