MONTGOMERY MUSEUM OF FINE ARTS ASSOCIATION
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$1,863,213
Investments
22%
Other
22%
Government Grants
18%
Contributions
17%
Membership Dues
14%
Program Services
7%
Fundraising Events
0%
Expenses in 2024
$2,925,056
Other
84%
Salaries & Benefits
11%
Fees to Service Providers
2%
Advertising & Promotion
2%
Offices, Occupancy & IT
<1%
Depreciation
<1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$794,474
$310,994
-61%
Government Grants
$476,798
$339,048
-29%
Fundraising Events
$0
$0
-
Program Services
$126,704
$123,669
-2%
Membership Dues
$256,505
$260,974
+2%
Investments
$308,795
$417,361
+35%
Other
$244,091
$411,167
+68%
Total Revenues
$2,207,367
$1,863,213
-16%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$575,348
$325,500
-43%
Fees to Service Providers
$63,055
$64,927
+3%
Advertising & Promotion
$53,150
$46,000
-13%
Offices, Occupancy & IT
$113,140
$27,057
-76%
Interest
$0
$0
-
Depreciation
$5,230
$5,230
+0%
Other
$644,454
$2,456,342
+281%
Total Expenses
$1,454,377
$2,925,056
+101%
Net income
2023
2024
Change
Net income
+$752,990
-$1,061,843
-241%
Functional Expenses
Summary
2023
2024
Change
Program
$478,689
$2,093,524
+337%
Admin
$893,078
$820,786
-8%
Fundraising
$82,610
$10,746
-87%
Total Expenses
$1,454,377
$2,925,056
+101%
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