GARNET TRUST FOUNDATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$4,678,630
Contributions
>99%
Government Grants
0%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Investments
0%
Other
0%
Expenses in 2024
$4,548,000
Other
78%
Grants
19%
Salaries & Benefits
2%
Offices, Occupancy & IT
<1%
Fees to Service Providers
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Interest
0%
Depreciation
0%
Revenues
2023
2024
Change
Contributions
$3,513,046
$4,678,630
+33%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$0
$0
-
Other
$0
$0
-
Total Revenues
$3,513,046
$4,678,630
+33%
Expenses
2023
2024
Change
Grants
$0
$853,707
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$154,384
$95,090
-38%
Fees to Service Providers
$445,910
$9,280
-98%
Advertising & Promotion
$71,580
$4,648
-94%
Offices, Occupancy & IT
$18,719
$18,437
-2%
Interest
$0
$0
-
Depreciation
$0
$0
-
Other
$2,809,554
$3,566,838
+27%
Total Expenses
$3,500,147
$4,548,000
+30%
Net income
2023
2024
Change
Net income
+$12,899
+$130,630
+913%
Functional Expenses
Summary
2023
2024
Change
Program
$3,422,042
$4,502,584
+32%
Admin
$78,105
$45,416
-42%
Fundraising
$0
$0
-
Total Expenses
$3,500,147
$4,548,000
+30%
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