INNOVATION PORTAL INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$1,657,320
Contributions
56%
Program Services
21%
Government Grants
12%
Other
12%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$1,431,358
Fees to Service Providers
31%
Salaries & Benefits
28%
Offices, Occupancy & IT
16%
Other
11%
Depreciation
11%
Advertising & Promotion
1%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$7,173,880
$919,957
-87%
Government Grants
$169,000
$200,000
+18%
Fundraising Events
$0
$0
-
Program Services
$246,151
$343,546
+40%
Membership Dues
$0
$0
-
Investments
$0
$1,700
-
Other
$102,489
$192,117
+87%
Total Revenues
$7,691,520
$1,657,320
-78%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$253,603
$406,965
+60%
Fees to Service Providers
$29,583
$445,995
+1408%
Advertising & Promotion
$2,212
$15,680
+609%
Offices, Occupancy & IT
$130,844
$228,510
+75%
Interest
$3,916
$7,609
+94%
Depreciation
$118,298
$162,490
+37%
Other
$118,736
$164,109
+38%
Total Expenses
$657,192
$1,431,358
+118%
Net income
2023
2024
Change
Net income
+$7,034,328
+$225,962
-97%
Functional Expenses
Summary
2023
2024
Change
Program
$514,147
$1,190,740
+132%
Admin
$130,273
$187,551
+44%
Fundraising
$12,772
$53,067
+315%
Total Expenses
$657,192
$1,431,358
+118%
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