THE WALLACE MEDICAL CONCERN
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$13,884,980
Program Services
72%
Government Grants
20%
Other
4%
Contributions
4%
Investments
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$12,852,825
Salaries & Benefits
66%
Offices, Occupancy & IT
12%
Fees to Service Providers
9%
Other
8%
Depreciation
3%
Grants
<1%
Interest
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$992,494
$494,210
-50%
Government Grants
$3,096,796
$2,774,591
-10%
Fundraising Events
$0
$0
-
Program Services
$8,300,224
$9,929,542
+20%
Membership Dues
$0
$0
-
Investments
$21,914
$94,925
+333%
Other
$306,325
$591,712
+93%
Total Revenues
$12,717,753
$13,884,980
+9%
Expenses
2023
2024
Change
Grants
$39,558
$51,092
+29%
Benefits to Members
$0
$0
-
Salaries & Benefits
$7,276,071
$8,546,475
+17%
Fees to Service Providers
$1,106,514
$1,164,282
+5%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$1,121,279
$1,589,508
+42%
Interest
$26,539
$24,097
-9%
Depreciation
$382,754
$386,645
+1%
Other
$1,264,685
$1,090,726
-14%
Total Expenses
$11,217,400
$12,852,825
+15%
Net income
2023
2024
Change
Net income
+$1,500,353
+$1,032,155
-31%
Functional Expenses
Summary
2023
2024
Change
Program
$8,199,381
$9,243,861
+13%
Admin
$2,682,683
$3,248,364
+21%
Fundraising
$335,336
$360,600
+8%
Total Expenses
$11,217,400
$12,852,825
+15%
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