TAUBMAN MUSEUM OF ART
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$4,427,318
Contributions
36%
Program Services
23%
Investments
17%
Other
16%
Government Grants
4%
Membership Dues
4%
Fundraising Events
0%
Expenses in 2024
$6,075,161
Salaries & Benefits
43%
Depreciation
25%
Other
16%
Offices, Occupancy & IT
12%
Fees to Service Providers
4%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$1,073,864
$1,609,327
+50%
Government Grants
$126,400
$192,993
+53%
Fundraising Events
$1,425
$0
-100%
Program Services
$831,552
$1,007,603
+21%
Membership Dues
$126,585
$156,800
+24%
Investments
$724,209
$766,959
+6%
Other
$351,956
$693,636
+97%
Total Revenues
$3,235,991
$4,427,318
+37%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,274,398
$2,595,381
+14%
Fees to Service Providers
$230,206
$224,563
-2%
Advertising & Promotion
$57,072
$55,827
-2%
Offices, Occupancy & IT
$643,539
$741,655
+15%
Interest
$0
$0
-
Depreciation
$1,500,231
$1,497,101
0%
Other
$1,208,809
$960,634
-21%
Total Expenses
$5,914,255
$6,075,161
+3%
Net income
2023
2024
Change
Net income
-$2,678,264
-$1,647,843
+38%
Functional Expenses
Summary
2023
2024
Change
Program
$4,374,005
$4,378,001
+0%
Admin
$1,196,456
$1,330,767
+11%
Fundraising
$343,794
$366,393
+7%
Total Expenses
$5,914,255
$6,075,161
+3%
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