ERIE DOWNTOWN DEVELOPMENT CORPORATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$3,462,767
Contributions
73%
Program Services
18%
Government Grants
7%
Other
<1%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$1,841,310
Salaries & Benefits
69%
Offices, Occupancy & IT
13%
Other
8%
Fees to Service Providers
5%
Interest
2%
Benefits to Members
1%
Depreciation
1%
Advertising & Promotion
<1%
Grants
0%
Revenues
2023
2024
Change
Contributions
$486,230
$2,528,189
+420%
Government Grants
$0
$250,000
-
Fundraising Events
$0
$0
-
Program Services
$762,411
$637,811
-16%
Membership Dues
$0
$0
-
Investments
$6,208
$16,236
+162%
Other
$315,700
$30,531
-90%
Total Revenues
$1,570,549
$3,462,767
+120%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$25,157
$26,468
+5%
Salaries & Benefits
$1,177,044
$1,263,236
+7%
Fees to Service Providers
$115,504
$85,200
-26%
Advertising & Promotion
$12,645
$10,055
-20%
Offices, Occupancy & IT
$249,602
$242,954
-3%
Interest
$23,529
$33,389
+42%
Depreciation
$26,329
$25,272
-4%
Other
$1,000,154
$154,736
-85%
Total Expenses
$2,629,964
$1,841,310
-30%
Net income
2023
2024
Change
Net income
-$1,059,415
+$1,621,457
-253%
Functional Expenses
Summary
2023
2024
Change
Program
$1,187,230
$1,054,265
-11%
Admin
$1,442,734
$787,045
-45%
Fundraising
$0
$0
-
Total Expenses
$2,629,964
$1,841,310
-30%
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