CAROLINA SMALL BUSINESS DEVELOPMENT FUND
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2025
$7,889,556
Government Grants
64%
Program Services
32%
Investments
4%
Fundraising Events
<1%
Contributions
<1%
Other
<1%
Membership Dues
0%
Expenses in 2025
$7,524,139
Salaries & Benefits
56%
Other
19%
Fees to Service Providers
10%
Offices, Occupancy & IT
7%
Interest
6%
Advertising & Promotion
<1%
Grants
<1%
Depreciation
<1%
Benefits to Members
0%
Revenues
2024
2025
Change
Contributions
$666,021
$9,733
-99%
Government Grants
$5,089,025
$5,013,547
-1%
Fundraising Events
$67,063
$18,960
-72%
Program Services
$2,059,446
$2,531,130
+23%
Membership Dues
$0
$0
-
Investments
$151,673
$314,092
+107%
Other
-$39,239
$2,094
-105%
Total Revenues
$7,993,989
$7,889,556
-1%
Expenses
2024
2025
Change
Grants
$24,908
$35,000
+41%
Benefits to Members
$0
$0
-
Salaries & Benefits
$3,648,429
$4,244,156
+16%
Fees to Service Providers
$870,330
$753,866
-13%
Advertising & Promotion
$44,494
$46,924
+5%
Offices, Occupancy & IT
$427,816
$538,605
+26%
Interest
$376,512
$483,526
+28%
Depreciation
$0
$1,760
-
Other
$1,546,784
$1,420,302
-8%
Total Expenses
$6,939,273
$7,524,139
+8%
Net income
2024
2025
Change
Net income
+$1,054,716
+$365,417
-65%
Functional Expenses
Summary
2024
2025
Change
Program
$5,571,807
$6,136,448
+10%
Admin
$1,367,466
$1,387,691
+1%
Fundraising
$0
$0
-
Total Expenses
$6,939,273
$7,524,139
+8%
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