NORTON MUSEUM OF ART INC
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$34,514,012
Contributions
67%
Other
16%
Program Services
10%
Investments
7%
Government Grants
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$23,005,663
Salaries & Benefits
38%
Other
22%
Depreciation
16%
Offices, Occupancy & IT
14%
Fees to Service Providers
6%
Interest
2%
Advertising & Promotion
1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$50,312,419
$22,971,360
-54%
Government Grants
$150,000
$100,424
-33%
Fundraising Events
$1,239,912
$0
-100%
Program Services
$909,985
$3,320,477
+265%
Membership Dues
$2,484,317
$0
-100%
Investments
$1,418,199
$2,435,347
+72%
Other
$3,791,431
$5,686,404
+50%
Total Revenues
$60,306,263
$34,514,012
-43%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$7,669,337
$8,660,885
+13%
Fees to Service Providers
$1,425,106
$1,448,009
+2%
Advertising & Promotion
$281,939
$307,785
+9%
Offices, Occupancy & IT
$2,971,551
$3,266,284
+10%
Interest
$732,952
$458,032
-38%
Depreciation
$3,779,526
$3,785,933
+0%
Other
$5,593,497
$5,078,735
-9%
Total Expenses
$22,453,908
$23,005,663
+2%
Net income
2023
2024
Change
Net income
+$37,852,355
+$11,508,349
-70%
Functional Expenses
Summary
2023
2024
Change
Program
$14,758,546
$14,823,849
+0%
Admin
$6,710,405
$6,729,889
+0%
Fundraising
$984,957
$1,451,925
+47%
Total Expenses
$22,453,908
$23,005,663
+2%
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