VAN ANDEL RESEARCH INSTITUTE
Income Statement
Fiscal Year Start:
Dec 1
Revenues in 2024
$112,738,485
Other
65%
Government Grants
29%
Contributions
4%
Program Services
1%
Fundraising Events
<1%
Investments
<1%
Membership Dues
0%
Expenses in 2024
$118,913,786
Salaries & Benefits
57%
Other
19%
Depreciation
11%
Fees to Service Providers
4%
Grants
3%
Offices, Occupancy & IT
3%
Advertising & Promotion
2%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$7,281,843
$4,650,378
-36%
Government Grants
$33,530,186
$32,720,750
-2%
Fundraising Events
$548,443
$272,273
-50%
Program Services
$882,195
$1,311,102
+49%
Membership Dues
$0
$0
-
Investments
$69,207
$7,220
-90%
Other
$297,700,012
$73,776,762
-75%
Total Revenues
$340,011,886
$112,738,485
-67%
Expenses
2023
2024
Change
Grants
$2,717,278
$3,760,021
+38%
Benefits to Members
$0
$0
-
Salaries & Benefits
$63,920,211
$67,657,719
+6%
Fees to Service Providers
$4,890,932
$4,998,398
+2%
Advertising & Promotion
$2,254,456
$2,796,447
+24%
Offices, Occupancy & IT
$3,177,555
$3,657,768
+15%
Interest
$1,317,022
$11,829
-99%
Depreciation
$12,375,602
$13,665,696
+10%
Other
$21,391,389
$22,365,908
+5%
Total Expenses
$112,044,445
$118,913,786
+6%
Net income
2023
2024
Change
Net income
+$227,967,441
-$6,175,301
-103%
Functional Expenses
Summary
2023
2024
Change
Program
$73,927,774
$77,693,549
+5%
Admin
$37,308,208
$39,180,459
+5%
Fundraising
$808,463
$2,039,778
+152%
Total Expenses
$112,044,445
$118,913,786
+6%
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