AFRICAN AMERICAN CULTURAL CENTER
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$7,764,222
Contributions
79%
Government Grants
10%
Program Services
9%
Other
2%
Fundraising Events
0%
Membership Dues
0%
Investments
0%
Expenses in 2024
$6,885,074
Other
40%
Salaries & Benefits
34%
Offices, Occupancy & IT
12%
Depreciation
7%
Fees to Service Providers
4%
Advertising & Promotion
3%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$4,693,665
$6,148,433
+31%
Government Grants
$574,409
$776,156
+35%
Fundraising Events
$138,090
$0
-100%
Program Services
$767,545
$672,863
-12%
Membership Dues
$0
$0
-
Investments
$108
$0
-100%
Other
$115,641
$166,770
+44%
Total Revenues
$6,289,458
$7,764,222
+23%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,524,704
$2,336,889
-7%
Fees to Service Providers
$284,579
$261,671
-8%
Advertising & Promotion
$332,887
$223,370
-33%
Offices, Occupancy & IT
$1,513,564
$840,083
-44%
Interest
$33,906
$19,437
-43%
Depreciation
$498,464
$452,306
-9%
Other
$3,264,021
$2,751,318
-16%
Total Expenses
$8,452,125
$6,885,074
-19%
Net income
2023
2024
Change
Net income
-$2,162,667
+$879,148
-141%
Functional Expenses
Summary
2023
2024
Change
Program
$6,220,923
$4,479,892
-28%
Admin
$1,374,713
$1,540,618
+12%
Fundraising
$856,489
$864,564
+1%
Total Expenses
$8,452,125
$6,885,074
-19%
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