LOWELL OBSERVATORY
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$11,946,368
Contributions
36%
Program Services
33%
Government Grants
18%
Other
11%
Membership Dues
2%
Investments
<1%
Fundraising Events
0%
Expenses in 2024
$19,482,906
Salaries & Benefits
60%
Other
12%
Depreciation
11%
Offices, Occupancy & IT
10%
Fees to Service Providers
4%
Advertising & Promotion
2%
Grants
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$9,463,686
$4,276,181
-55%
Government Grants
$7,896,856
$2,189,822
-72%
Fundraising Events
$0
$0
-
Program Services
$4,915,593
$3,967,818
-19%
Membership Dues
$366,285
$197,904
-46%
Investments
$176,873
$16,425
-91%
Other
-$2,655,303
$1,298,218
-149%
Total Revenues
$20,163,990
$11,946,368
-41%
Expenses
2023
2024
Change
Grants
$434,519
$175,151
-60%
Benefits to Members
$0
$0
-
Salaries & Benefits
$10,838,183
$11,647,319
+7%
Fees to Service Providers
$1,206,621
$704,123
-42%
Advertising & Promotion
$315,247
$423,792
+34%
Offices, Occupancy & IT
$1,833,998
$1,890,304
+3%
Interest
$39,394
$110,579
+181%
Depreciation
$2,107,833
$2,183,557
+4%
Other
$1,869,366
$2,348,081
+26%
Total Expenses
$18,645,161
$19,482,906
+4%
Net income
2023
2024
Change
Net income
+$1,518,829
-$7,536,538
-596%
Functional Expenses
Summary
2023
2024
Change
Program
$14,703,768
$15,171,860
+3%
Admin
$2,255,499
$2,553,523
+13%
Fundraising
$1,685,894
$1,757,523
+4%
Total Expenses
$18,645,161
$19,482,906
+4%
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