Maryland Rural Development Corporation
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$10,109,766
Government Grants
98%
Program Services
2%
Other
<1%
Investments
<1%
Contributions
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$10,108,794
Salaries & Benefits
72%
Offices, Occupancy & IT
8%
Other
7%
Grants
6%
Fees to Service Providers
5%
Depreciation
2%
Interest
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$0
$0
-
Government Grants
$8,345,295
$9,874,895
+18%
Fundraising Events
$0
$0
-
Program Services
$273,679
$211,648
-23%
Membership Dues
$0
$0
-
Investments
$144
$32
-78%
Other
$27,168
$23,191
-15%
Total Revenues
$8,646,286
$10,109,766
+17%
Expenses
2023
2024
Change
Grants
$0
$565,811
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$5,558,387
$7,245,071
+30%
Fees to Service Providers
$419,700
$468,882
+12%
Advertising & Promotion
$275
$131
-52%
Offices, Occupancy & IT
$1,170,754
$857,503
-27%
Interest
$30,868
$22,978
-26%
Depreciation
$241,239
$243,552
+1%
Other
$1,288,776
$704,866
-45%
Total Expenses
$8,709,999
$10,108,794
+16%
Net income
2023
2024
Change
Net income
-$63,713
+$972
-102%
Functional Expenses
Summary
2023
2024
Change
Program
$8,465,104
$9,834,128
+16%
Admin
$240,150
$274,106
+14%
Fundraising
$4,745
$560
-88%
Total Expenses
$8,709,999
$10,108,794
+16%
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