THE HIP HOP MUSEUM
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$6,995,189
Government Grants
54%
Contributions
43%
Program Services
3%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$4,786,636
Other
55%
Salaries & Benefits
22%
Advertising & Promotion
11%
Fees to Service Providers
7%
Offices, Occupancy & IT
3%
Interest
1%
Grants
<1%
Benefits to Members
0%
Depreciation
0%
Revenues
2023
2024
Change
Contributions
$1,106,780
$2,993,698
+170%
Government Grants
$683,749
$3,805,355
+457%
Fundraising Events
$402,549
$0
-100%
Program Services
$152,319
$192,325
+26%
Membership Dues
$0
$0
-
Investments
$0
$3,811
-
Other
$65,413
$0
-100%
Total Revenues
$2,410,810
$6,995,189
+190%
Expenses
2023
2024
Change
Grants
$6,500
$3,997
-39%
Benefits to Members
$0
$0
-
Salaries & Benefits
$333,067
$1,061,725
+219%
Fees to Service Providers
$336,171
$346,980
+3%
Advertising & Promotion
$202,743
$515,000
+154%
Offices, Occupancy & IT
$17,850
$162,909
+813%
Interest
$0
$58,638
-
Depreciation
$0
$0
-
Other
$1,347,121
$2,637,387
+96%
Total Expenses
$2,243,452
$4,786,636
+113%
Net income
2023
2024
Change
Net income
+$167,358
+$2,208,553
+1220%
Functional Expenses
Summary
2023
2024
Change
Program
$1,407,962
$3,962,579
+181%
Admin
$157,255
$229,802
+46%
Fundraising
$678,235
$594,255
-12%
Total Expenses
$2,243,452
$4,786,636
+113%
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