SEATTLE ART MUSEUM
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$38,873,857
Other
48%
Program Services
16%
Contributions
12%
Membership Dues
12%
Investments
8%
Fundraising Events
2%
Government Grants
1%
Expenses in 2024
$41,616,349
Salaries & Benefits
45%
Offices, Occupancy & IT
24%
Fees to Service Providers
11%
Depreciation
10%
Other
8%
Advertising & Promotion
2%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$8,541,957
$4,754,343
-44%
Government Grants
$1,239,243
$575,875
-54%
Fundraising Events
$897,629
$889,361
-1%
Program Services
$5,171,487
$6,097,696
+18%
Membership Dues
$4,220,484
$4,541,546
+8%
Investments
$3,447,543
$3,212,762
-7%
Other
$6,467,231
$18,802,274
+191%
Total Revenues
$29,985,574
$38,873,857
+30%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$17,516,153
$18,749,730
+7%
Fees to Service Providers
$2,861,548
$4,545,045
+59%
Advertising & Promotion
$681,002
$1,000,711
+47%
Offices, Occupancy & IT
$8,736,432
$9,861,059
+13%
Interest
$90,916
$92,615
+2%
Depreciation
$3,811,542
$4,059,740
+7%
Other
$3,446,395
$3,307,449
-4%
Total Expenses
$37,143,988
$41,616,349
+12%
Net income
2023
2024
Change
Net income
-$7,158,414
-$2,742,492
+62%
Functional Expenses
Summary
2023
2024
Change
Program
$27,388,295
$30,498,426
+11%
Admin
$7,105,424
$8,046,723
+13%
Fundraising
$2,650,269
$3,071,200
+16%
Total Expenses
$37,143,988
$41,616,349
+12%
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