THE TIMOTHY INITIATIVE INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2023
$22,662,705
Contributions
71%
Fundraising Events
25%
Other
4%
Government Grants
0%
Program Services
0%
Membership Dues
0%
Investments
0%
Expenses in 2023
$21,741,453
Other
58%
Salaries & Benefits
26%
Grants
10%
Offices, Occupancy & IT
5%
Fees to Service Providers
1%
Depreciation
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Interest
0%
Revenues
2022
2023
Change
Contributions
$18,142,418
$16,046,878
-12%
Government Grants
$0
$0
-
Fundraising Events
$408,841
$5,709,310
+1296%
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
-$67,171
$906,517
-1450%
Total Revenues
$18,484,088
$22,662,705
+23%
Expenses
2022
2023
Change
Grants
$0
$2,093,504
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$3,775,966
$5,567,876
+47%
Fees to Service Providers
$123,697
$260,136
+110%
Advertising & Promotion
$58,256
$0
-100%
Offices, Occupancy & IT
$1,961,266
$1,119,083
-43%
Interest
$0
$0
-
Depreciation
$56,079
$78,104
+39%
Other
$11,674,629
$12,622,750
+8%
Total Expenses
$17,649,893
$21,741,453
+23%
Net income
2022
2023
Change
Net income
+$834,195
+$921,252
+10%
Functional Expenses
Summary
2022
2023
Change
Program
$15,154,194
$18,823,165
+24%
Admin
$855,974
$1,218,583
+42%
Fundraising
$1,639,725
$1,699,705
+4%
Total Expenses
$17,649,893
$21,741,453
+23%
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