MERIT AMERICA
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$61,425,877
Contributions
75%
Program Services
23%
Investments
2%
Other
<1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$50,954,245
Salaries & Benefits
59%
Advertising & Promotion
28%
Fees to Service Providers
7%
Offices, Occupancy & IT
3%
Other
2%
Grants
1%
Interest
<1%
Depreciation
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$29,039,821
$46,063,888
+59%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$13,667,249
$14,345,608
+5%
Membership Dues
$0
$0
-
Investments
$507,492
$1,014,887
+100%
Other
$0
$1,494
-
Total Revenues
$43,214,562
$61,425,877
+42%
Expenses
2023
2024
Change
Grants
$148,320
$530,624
+258%
Benefits to Members
$0
$0
-
Salaries & Benefits
$23,472,738
$30,175,529
+29%
Fees to Service Providers
$2,111,512
$3,701,262
+75%
Advertising & Promotion
$7,272,541
$14,034,871
+93%
Offices, Occupancy & IT
$1,848,336
$1,434,771
-22%
Interest
$84,167
$196,666
+134%
Depreciation
$44,232
$39,724
-10%
Other
$1,236,996
$840,798
-32%
Total Expenses
$36,218,842
$50,954,245
+41%
Net income
2023
2024
Change
Net income
+$6,995,720
+$10,471,632
+50%
Functional Expenses
Summary
2023
2024
Change
Program
$33,238,733
$47,296,713
+42%
Admin
$1,990,244
$2,395,403
+20%
Fundraising
$989,865
$1,262,129
+28%
Total Expenses
$36,218,842
$50,954,245
+41%
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