THE NAVAL INSTITUTE FOUNDATION INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$6,120,881
Contributions
96%
Investments
4%
Government Grants
0%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$4,801,914
Grants
68%
Salaries & Benefits
23%
Offices, Occupancy & IT
3%
Other
3%
Fees to Service Providers
2%
Depreciation
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$9,208,939
$5,895,369
-36%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$168,766
$225,512
+34%
Other
$35,097
$0
-100%
Total Revenues
$9,412,802
$6,120,881
-35%
Expenses
2023
2024
Change
Grants
$3,496,650
$3,267,311
-7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,205,985
$1,087,018
-10%
Fees to Service Providers
$121,725
$104,695
-14%
Advertising & Promotion
$4,823
$3,624
-25%
Offices, Occupancy & IT
$176,497
$165,045
-6%
Interest
$0
$0
-
Depreciation
$37,801
$29,971
-21%
Other
$157,181
$144,250
-8%
Total Expenses
$5,200,662
$4,801,914
-8%
Net income
2023
2024
Change
Net income
+$4,212,140
+$1,318,967
-69%
Functional Expenses
Summary
2023
2024
Change
Program
$3,496,650
$3,267,311
-7%
Admin
$281,852
$250,372
-11%
Fundraising
$1,422,160
$1,284,231
-10%
Total Expenses
$5,200,662
$4,801,914
-8%
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