PROJECT WORTHMORE
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$6,126,125
Program Services
40%
Contributions
40%
Government Grants
13%
Fundraising Events
5%
Other
1%
Membership Dues
0%
Investments
0%
Expenses in 2024
$4,526,042
Salaries & Benefits
71%
Other
12%
Offices, Occupancy & IT
6%
Depreciation
4%
Grants
4%
Interest
1%
Fees to Service Providers
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$1,968,962
$2,427,867
+23%
Government Grants
$211,989
$826,791
+290%
Fundraising Events
$323,901
$320,726
-1%
Program Services
$1,563,523
$2,475,082
+58%
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$70,817
$75,659
+7%
Total Revenues
$4,139,192
$6,126,125
+48%
Expenses
2023
2024
Change
Grants
$285,021
$174,282
-39%
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,628,272
$3,217,952
+22%
Fees to Service Providers
$10,905
$34,221
+214%
Advertising & Promotion
$24,484
$22,047
-10%
Offices, Occupancy & IT
$134,197
$268,076
+100%
Interest
$62,696
$47,955
-24%
Depreciation
$215,398
$200,198
-7%
Other
$415,303
$561,311
+35%
Total Expenses
$3,776,276
$4,526,042
+20%
Net income
2023
2024
Change
Net income
+$362,916
+$1,600,083
+341%
Functional Expenses
Summary
2023
2024
Change
Program
$2,940,872
$3,662,885
+25%
Admin
$613,525
$755,252
+23%
Fundraising
$221,879
$107,905
-51%
Total Expenses
$3,776,276
$4,526,042
+20%
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