Penland School Of Craft
Income Statement
Fiscal Year Start:
May 1
Revenues in 2025
$10,699,059
Contributions
45%
Program Services
29%
Other
18%
Investments
8%
Government Grants
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2025
$10,797,378
Salaries & Benefits
45%
Other
21%
Depreciation
14%
Fees to Service Providers
13%
Offices, Occupancy & IT
6%
Interest
<1%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2024
2025
Change
Contributions
$2,463,896
$4,807,222
+95%
Government Grants
$65,000
$62,500
-4%
Fundraising Events
$7,100
$9,712
+37%
Program Services
$3,630,795
$3,096,488
-15%
Membership Dues
$0
$0
-
Investments
$953,002
$837,785
-12%
Other
$1,610,149
$1,885,352
+17%
Total Revenues
$8,729,942
$10,699,059
+23%
Expenses
2024
2025
Change
Grants
$180,000
$0
-100%
Benefits to Members
$0
$0
-
Salaries & Benefits
$4,350,569
$4,893,365
+12%
Fees to Service Providers
$1,281,605
$1,401,590
+9%
Advertising & Promotion
$50,420
$37,122
-26%
Offices, Occupancy & IT
$925,049
$671,764
-27%
Interest
$59,006
$54,540
-8%
Depreciation
$1,338,010
$1,508,765
+13%
Other
$1,620,174
$2,230,232
+38%
Total Expenses
$9,804,833
$10,797,378
+10%
Net income
2024
2025
Change
Net income
-$1,074,891
-$98,319
+91%
Functional Expenses
Summary
2024
2025
Change
Program
$7,405,273
$7,619,822
+3%
Admin
$1,712,260
$2,566,170
+50%
Fundraising
$687,300
$611,386
-11%
Total Expenses
$9,804,833
$10,797,378
+10%
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