Great Lakes Center for the Arts
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$3,628,044
Contributions
39%
Program Services
29%
Government Grants
15%
Fundraising Events
11%
Other
5%
Investments
2%
Membership Dues
0%
Expenses in 2024
$5,049,302
Other
32%
Salaries & Benefits
31%
Depreciation
17%
Offices, Occupancy & IT
9%
Fees to Service Providers
5%
Advertising & Promotion
3%
Interest
3%
Grants
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$9,887,075
$1,399,095
-86%
Government Grants
$56,294
$546,530
+871%
Fundraising Events
$315,111
$398,501
+26%
Program Services
$828,726
$1,058,908
+28%
Membership Dues
$0
$0
-
Investments
$54,264
$61,495
+13%
Other
$53,999
$163,515
+203%
Total Revenues
$11,195,469
$3,628,044
-68%
Expenses
2023
2024
Change
Grants
$15,895
$19,265
+21%
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,295,271
$1,580,427
+22%
Fees to Service Providers
$565,730
$232,384
-59%
Advertising & Promotion
$139,149
$163,125
+17%
Offices, Occupancy & IT
$462,193
$433,584
-6%
Interest
$221,308
$141,894
-36%
Depreciation
$871,133
$874,890
+0%
Other
$1,078,974
$1,603,733
+49%
Total Expenses
$4,649,653
$5,049,302
+9%
Net income
2023
2024
Change
Net income
+$6,545,816
-$1,421,258
-122%
Functional Expenses
Summary
2023
2024
Change
Program
$3,692,681
$4,140,062
+12%
Admin
$277,079
$334,218
+21%
Fundraising
$679,893
$575,022
-15%
Total Expenses
$4,649,653
$5,049,302
+9%
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