National Gallery of Art
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$315,490,371
Government Grants
61%
Other
31%
Contributions
7%
Investments
2%
Program Services
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$243,671,523
Salaries & Benefits
54%
Offices, Occupancy & IT
17%
Fees to Service Providers
15%
Depreciation
7%
Other
6%
Grants
<1%
Advertising & Promotion
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$23,139,974
$20,590,412
-11%
Government Grants
$179,083,573
$191,186,765
+7%
Fundraising Events
$0
$0
-
Program Services
$170,293
$124,831
-27%
Membership Dues
$0
$0
-
Investments
$6,342,679
$5,109,587
-19%
Other
$42,206,022
$98,478,776
+133%
Total Revenues
$250,942,541
$315,490,371
+26%
Expenses
2023
2024
Change
Grants
$8,675,593
$1,638,637
-81%
Benefits to Members
$0
$0
-
Salaries & Benefits
$123,133,033
$131,410,825
+7%
Fees to Service Providers
$35,728,173
$37,239,319
+4%
Advertising & Promotion
$632,516
$377,095
-40%
Offices, Occupancy & IT
$36,640,530
$41,882,592
+14%
Interest
$26,206
$16,935
-35%
Depreciation
$16,464,070
$16,572,768
+1%
Other
$26,274,834
$14,533,352
-45%
Total Expenses
$247,574,955
$243,671,523
-2%
Net income
2023
2024
Change
Net income
+$3,367,586
+$71,818,848
+2033%
Functional Expenses
Summary
2023
2024
Change
Program
$185,380,839
$171,207,396
-8%
Admin
$55,667,594
$64,961,609
+17%
Fundraising
$6,526,522
$7,502,518
+15%
Total Expenses
$247,574,955
$243,671,523
-2%
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