FREEDOM READS INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$3,608,736
Contributions
71%
Government Grants
24%
Investments
5%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$6,058,378
Other
48%
Salaries & Benefits
32%
Fees to Service Providers
12%
Offices, Occupancy & IT
6%
Depreciation
2%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$14,497,436
$2,578,171
-82%
Government Grants
$0
$850,000
-
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$33,799
$180,565
+434%
Other
$233
$0
-100%
Total Revenues
$14,531,468
$3,608,736
-75%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,145,916
$1,941,094
+69%
Fees to Service Providers
$560,995
$749,221
+34%
Advertising & Promotion
$198,878
$9,581
-95%
Offices, Occupancy & IT
$259,961
$351,914
+35%
Interest
$0
$0
-
Depreciation
$43,093
$103,218
+140%
Other
$2,428,584
$2,903,350
+20%
Total Expenses
$4,637,427
$6,058,378
+31%
Net income
2023
2024
Change
Net income
+$9,894,041
-$2,449,642
-125%
Functional Expenses
Summary
2023
2024
Change
Program
$3,378,530
$4,466,854
+32%
Admin
$847,281
$1,049,224
+24%
Fundraising
$411,616
$542,300
+32%
Total Expenses
$4,637,427
$6,058,378
+31%
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