MINNESOTA MARINE ART MUSEUM
MINNESOTA MARINE ART MUSEUM
MINNESOTA MARINE ART MUSEUM
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$1,644,169
Contributions
40%
Other
30%
Investments
19%
Program Services
10%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$2,594,992
Salaries & Benefits
40%
Other
39%
Depreciation
8%
Fees to Service Providers
8%
Advertising & Promotion
4%
Offices, Occupancy & IT
3%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$683,419
$663,159
-3%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$190,680
$169,358
-11%
Membership Dues
$0
$0
-
Investments
$322,127
$318,676
-1%
Other
$401,554
$492,976
+23%
Total Revenues
$1,597,780
$1,644,169
+3%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$818,303
$1,025,979
+25%
Fees to Service Providers
$181,961
$195,390
+7%
Advertising & Promotion
$82,980
$93,788
+13%
Offices, Occupancy & IT
$81,026
$69,809
-14%
Interest
$0
$0
-
Depreciation
$205,763
$202,104
-2%
Other
$860,638
$1,007,922
+17%
Total Expenses
$2,230,671
$2,594,992
+16%
Net income
2023
2024
Change
Net income
-$632,891
-$950,823
-50%
Functional Expenses
Summary
2023
2024
Change
Program
$1,949,512
$2,245,298
+15%
Admin
$195,229
$223,857
+15%
Fundraising
$85,930
$125,837
+46%
Total Expenses
$2,230,671
$2,594,992
+16%
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