CORPORATION OF THE FINE ARTS MUSEUMS
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$57,128,056
Contributions
43%
Membership Dues
19%
Other
18%
Program Services
15%
Fundraising Events
5%
Investments
<1%
Government Grants
0%
Expenses in 2024
$53,063,931
Salaries & Benefits
62%
Other
16%
Fees to Service Providers
9%
Offices, Occupancy & IT
7%
Grants
2%
Advertising & Promotion
2%
Depreciation
1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$17,589,815
$24,553,578
+40%
Government Grants
$0
$0
-
Fundraising Events
$2,094,548
$2,707,244
+29%
Program Services
$13,326,013
$8,527,828
-36%
Membership Dues
$12,489,142
$10,745,214
-14%
Investments
$143,636
$257,816
+79%
Other
$8,627,313
$10,336,376
+20%
Total Revenues
$54,270,467
$57,128,056
+5%
Expenses
2023
2024
Change
Grants
$1,283,020
$1,323,227
+3%
Benefits to Members
$0
$0
-
Salaries & Benefits
$32,392,952
$32,877,232
+1%
Fees to Service Providers
$4,667,483
$4,747,511
+2%
Advertising & Promotion
$1,856,608
$991,192
-47%
Offices, Occupancy & IT
$4,245,273
$3,862,181
-9%
Interest
$199
$0
-100%
Depreciation
$655,810
$693,369
+6%
Other
$12,985,069
$8,569,219
-34%
Total Expenses
$58,086,414
$53,063,931
-9%
Net income
2023
2024
Change
Net income
-$3,815,947
+$4,064,125
-207%
Functional Expenses
Summary
2023
2024
Change
Program
$46,393,500
$41,983,627
-10%
Admin
$7,537,591
$7,253,775
-4%
Fundraising
$4,155,323
$3,826,529
-8%
Total Expenses
$58,086,414
$53,063,931
-9%
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