FOUNDATION FOR THE CAROLINAS
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$761,389,623
Contributions
82%
Other
13%
Program Services
2%
Government Grants
2%
Investments
2%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$849,185,395
Grants
95%
Fees to Service Providers
3%
Salaries & Benefits
2%
Other
<1%
Offices, Occupancy & IT
<1%
Advertising & Promotion
<1%
Depreciation
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$434,411,861
$621,731,600
+43%
Government Grants
$0
$13,030,000
-
Fundraising Events
$32,920
$56,215
+71%
Program Services
$16,659,425
$18,040,048
+8%
Membership Dues
$0
$0
-
Investments
$10,671,820
$12,552,376
+18%
Other
$76,270,427
$95,979,384
+26%
Total Revenues
$538,046,453
$761,389,623
+42%
Expenses
2023
2024
Change
Grants
$540,885,831
$804,486,974
+49%
Benefits to Members
$0
$0
-
Salaries & Benefits
$15,405,866
$15,475,824
+0%
Fees to Service Providers
$18,624,204
$21,634,087
+16%
Advertising & Promotion
$787,557
$787,776
+0%
Offices, Occupancy & IT
$3,376,566
$3,178,549
-6%
Interest
$0
$0
-
Depreciation
$103,997
$109,098
+5%
Other
$3,288,128
$3,513,087
+7%
Total Expenses
$582,472,149
$849,185,395
+46%
Net income
2023
2024
Change
Net income
-$44,425,696
-$87,795,772
-98%
Functional Expenses
Summary
2023
2024
Change
Program
$573,189,122
$839,821,536
+47%
Admin
$8,671,116
$8,741,442
+1%
Fundraising
$611,911
$622,417
+2%
Total Expenses
$582,472,149
$849,185,395
+46%
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