INSTITUTE OF CONTEMPORARY ART MIAMI INC
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$14,762,138
Contributions
78%
Other
13%
Membership Dues
4%
Government Grants
2%
Fundraising Events
<1%
Investments
<1%
Program Services
<1%
Expenses in 2024
$13,257,817
Other
62%
Salaries & Benefits
25%
Fees to Service Providers
5%
Depreciation
3%
Offices, Occupancy & IT
3%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$8,470,030
$11,493,538
+36%
Government Grants
$912,415
$350,950
-62%
Fundraising Events
$155,015
$133,550
-14%
Program Services
$43,537
$85,652
+97%
Membership Dues
$489,968
$652,262
+33%
Investments
$117,141
$113,858
-3%
Other
$1,878,667
$1,932,328
+3%
Total Revenues
$12,066,773
$14,762,138
+22%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,934,360
$3,336,261
+14%
Fees to Service Providers
$600,516
$695,085
+16%
Advertising & Promotion
$74,282
$109,722
+48%
Offices, Occupancy & IT
$249,849
$409,982
+64%
Interest
$0
$0
-
Depreciation
$553,749
$460,732
-17%
Other
$5,772,463
$8,246,035
+43%
Total Expenses
$10,185,219
$13,257,817
+30%
Net income
2023
2024
Change
Net income
+$1,881,554
+$1,504,321
-20%
Functional Expenses
Summary
2023
2024
Change
Program
$8,009,386
$9,519,264
+19%
Admin
$1,184,197
$2,235,827
+89%
Fundraising
$991,636
$1,502,726
+52%
Total Expenses
$10,185,219
$13,257,817
+30%
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