THE MORSELIFE HOUSING CORPORATION INC
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$30,574,469
Program Services
93%
Other
6%
Contributions
<1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Investments
0%
Expenses in 2024
$35,185,309
Salaries & Benefits
34%
Depreciation
17%
Other
13%
Interest
13%
Offices, Occupancy & IT
12%
Fees to Service Providers
9%
Advertising & Promotion
2%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,000
$78,356
+1467%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$27,402,229
$28,529,261
+4%
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$1,380,825
$1,966,852
+42%
Total Revenues
$28,788,054
$30,574,469
+6%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$11,151,049
$11,863,408
+6%
Fees to Service Providers
$2,776,178
$3,319,078
+20%
Advertising & Promotion
$493,880
$570,584
+16%
Offices, Occupancy & IT
$3,546,005
$4,120,810
+16%
Interest
$4,241,598
$4,617,747
+9%
Depreciation
$5,498,860
$6,043,267
+10%
Other
$4,874,808
$4,650,415
-5%
Total Expenses
$32,582,378
$35,185,309
+8%
Net income
2023
2024
Change
Net income
-$3,794,324
-$4,610,840
-22%
Functional Expenses
Summary
2023
2024
Change
Program
$25,383,233
$26,919,360
+6%
Admin
$7,199,145
$8,265,949
+15%
Fundraising
$0
$0
-
Total Expenses
$32,582,378
$35,185,309
+8%
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