ICAFUND FKA INNER CITY ADVISORS
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$7,717,480
Contributions
91%
Program Services
6%
Government Grants
3%
Other
<1%
Fundraising Events
0%
Membership Dues
0%
Investments
0%
Expenses in 2024
$6,947,208
Salaries & Benefits
56%
Interest
17%
Other
15%
Offices, Occupancy & IT
5%
Fees to Service Providers
5%
Advertising & Promotion
2%
Depreciation
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,222,984
$7,031,587
+35%
Government Grants
$0
$197,059
-
Fundraising Events
$0
$0
-
Program Services
$231,794
$474,418
+105%
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$26,076
$14,416
-45%
Total Revenues
$5,480,854
$7,717,480
+41%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$3,253,655
$3,903,204
+20%
Fees to Service Providers
$286,594
$332,177
+16%
Advertising & Promotion
$164,321
$166,445
+1%
Offices, Occupancy & IT
$387,608
$344,802
-11%
Interest
$745,996
$1,167,359
+56%
Depreciation
$5,514
$22,135
+301%
Other
$150,183
$1,011,086
+573%
Total Expenses
$4,993,871
$6,947,208
+39%
Net income
2023
2024
Change
Net income
+$486,983
+$770,272
+58%
Functional Expenses
Summary
2023
2024
Change
Program
$3,956,356
$5,717,895
+45%
Admin
$303,373
$358,856
+18%
Fundraising
$734,142
$870,457
+19%
Total Expenses
$4,993,871
$6,947,208
+39%
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