THE ARMORY ART CENTER INC
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$2,369,718
Program Services
43%
Contributions
34%
Government Grants
17%
Other
6%
Fundraising Events
0%
Membership Dues
0%
Investments
0%
Expenses in 2024
$2,345,441
Offices, Occupancy & IT
33%
Other
29%
Salaries & Benefits
25%
Fees to Service Providers
7%
Depreciation
5%
Advertising & Promotion
1%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$852,702
$811,324
-5%
Government Grants
$683,389
$407,089
-40%
Fundraising Events
$0
$0
-
Program Services
$1,008,586
$1,013,830
+1%
Membership Dues
$0
$0
-
Investments
$8,825
$0
-100%
Other
$150,797
$137,475
-9%
Total Revenues
$2,704,299
$2,369,718
-12%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$703,926
$583,486
-17%
Fees to Service Providers
$184,751
$157,004
-15%
Advertising & Promotion
$0
$32,049
-
Offices, Occupancy & IT
$751,983
$776,237
+3%
Interest
$6,421
$9,123
+42%
Depreciation
$147,377
$114,636
-22%
Other
$735,010
$672,906
-8%
Total Expenses
$2,529,468
$2,345,441
-7%
Net income
2023
2024
Change
Net income
+$174,831
+$24,277
-86%
Functional Expenses
Summary
2023
2024
Change
Program
$1,764,424
$1,641,400
-7%
Admin
$682,300
$640,057
-6%
Fundraising
$82,744
$63,984
-23%
Total Expenses
$2,529,468
$2,345,441
-7%
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