HEART OF AMERICA FOUNDATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$17,062,886
Contributions
90%
Government Grants
5%
Investments
4%
Program Services
<1%
Fundraising Events
<1%
Other
<1%
Membership Dues
0%
Expenses in 2024
$16,553,614
Other
39%
Salaries & Benefits
28%
Fees to Service Providers
26%
Offices, Occupancy & IT
5%
Grants
2%
Depreciation
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$12,032,020
$15,430,036
+28%
Government Grants
$131,865
$833,500
+532%
Fundraising Events
$7,954
$26,000
+227%
Program Services
$2,659,394
$98,915
-96%
Membership Dues
$0
$0
-
Investments
$673,313
$656,993
-2%
Other
$12,929
$17,442
+35%
Total Revenues
$15,517,475
$17,062,886
+10%
Expenses
2023
2024
Change
Grants
$321,241
$310,349
-3%
Benefits to Members
$0
$0
-
Salaries & Benefits
$3,864,593
$4,616,818
+19%
Fees to Service Providers
$3,205,782
$4,353,285
+36%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$641,856
$858,695
+34%
Interest
$0
$0
-
Depreciation
$4,594
$6,324
+38%
Other
$6,113,475
$6,408,143
+5%
Total Expenses
$14,151,541
$16,553,614
+17%
Net income
2023
2024
Change
Net income
+$1,365,934
+$509,272
-63%
Functional Expenses
Summary
2023
2024
Change
Program
$12,518,399
$14,675,979
+17%
Admin
$1,099,221
$1,196,721
+9%
Fundraising
$533,921
$680,914
+28%
Total Expenses
$14,151,541
$16,553,614
+17%
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