INSTITUTE ON AGING
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$93,160,446
Program Services
62%
Government Grants
31%
Contributions
7%
Investments
<1%
Fundraising Events
<1%
Other
<1%
Membership Dues
0%
Expenses in 2024
$90,536,830
Salaries & Benefits
60%
Other
22%
Offices, Occupancy & IT
7%
Fees to Service Providers
6%
Depreciation
2%
Interest
2%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,630,512
$6,300,119
+74%
Government Grants
$23,324,445
$28,508,038
+22%
Fundraising Events
$0
$363,534
-
Program Services
$50,186,020
$57,462,992
+14%
Membership Dues
$0
$0
-
Investments
$210,582
$434,763
+106%
Other
$290,019
$91,000
-69%
Total Revenues
$77,641,578
$93,160,446
+20%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$45,523,546
$54,680,106
+20%
Fees to Service Providers
$3,999,550
$5,278,424
+32%
Advertising & Promotion
$460,576
$731,890
+59%
Offices, Occupancy & IT
$5,303,634
$6,338,818
+20%
Interest
$1,496,700
$1,435,753
-4%
Depreciation
$1,950,288
$1,902,340
-2%
Other
$17,284,884
$20,169,499
+17%
Total Expenses
$76,019,178
$90,536,830
+19%
Net income
2023
2024
Change
Net income
+$1,622,400
+$2,623,616
+62%
Functional Expenses
Summary
2023
2024
Change
Program
$63,975,363
$74,360,316
+16%
Admin
$11,529,890
$15,524,713
+35%
Fundraising
$513,925
$651,801
+27%
Total Expenses
$76,019,178
$90,536,830
+19%
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