THE PHILLIPS COLLECTION
Income Statement
Fiscal Year Start:
Aug 1
Revenues in 2024
$13,695,996
Contributions
34%
Other
21%
Program Services
14%
Membership Dues
11%
Investments
10%
Fundraising Events
5%
Government Grants
5%
Expenses in 2024
$17,349,802
Salaries & Benefits
53%
Offices, Occupancy & IT
13%
Other
12%
Fees to Service Providers
11%
Depreciation
8%
Advertising & Promotion
2%
Interest
1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$11,522,103
$4,689,401
-59%
Government Grants
$2,244,285
$667,655
-70%
Fundraising Events
$544,148
$672,483
+24%
Program Services
$1,376,906
$1,942,599
+41%
Membership Dues
$1,151,384
$1,478,139
+28%
Investments
$1,591,502
$1,423,025
-11%
Other
$2,838,027
$2,822,694
-1%
Total Revenues
$21,268,355
$13,695,996
-36%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$8,980,240
$9,236,088
+3%
Fees to Service Providers
$1,503,416
$1,827,542
+22%
Advertising & Promotion
$275,809
$306,003
+11%
Offices, Occupancy & IT
$2,098,425
$2,261,604
+8%
Interest
$442,066
$238,298
-46%
Depreciation
$1,437,577
$1,377,221
-4%
Other
$1,877,821
$2,103,046
+12%
Total Expenses
$16,615,354
$17,349,802
+4%
Net income
2023
2024
Change
Net income
+$4,653,001
-$3,653,806
-179%
Functional Expenses
Summary
2023
2024
Change
Program
$12,890,417
$13,131,640
+2%
Admin
$1,905,682
$2,035,509
+7%
Fundraising
$1,819,255
$2,182,653
+20%
Total Expenses
$16,615,354
$17,349,802
+4%
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