MUSIC ACADEMY OF THE WEST
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$8,265,544
Contributions
65%
Investments
20%
Program Services
11%
Fundraising Events
3%
Other
<1%
Government Grants
<1%
Membership Dues
0%
Expenses in 2024
$12,555,692
Salaries & Benefits
36%
Other
31%
Offices, Occupancy & IT
10%
Depreciation
10%
Fees to Service Providers
6%
Interest
3%
Advertising & Promotion
2%
Grants
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,909,582
$5,331,413
-10%
Government Grants
$424,258
$6,000
-99%
Fundraising Events
$789,261
$254,460
-68%
Program Services
$978,093
$935,966
-4%
Membership Dues
$0
$0
-
Investments
$1,174,678
$1,668,739
+42%
Other
$14,681
$68,966
+370%
Total Revenues
$9,290,553
$8,265,544
-11%
Expenses
2023
2024
Change
Grants
$92,500
$48,750
-47%
Benefits to Members
$0
$0
-
Salaries & Benefits
$4,614,259
$4,532,298
-2%
Fees to Service Providers
$585,693
$788,488
+35%
Advertising & Promotion
$370,162
$280,697
-24%
Offices, Occupancy & IT
$1,388,596
$1,317,458
-5%
Interest
$365,407
$344,325
-6%
Depreciation
$1,174,491
$1,314,699
+12%
Other
$4,406,056
$3,928,977
-11%
Total Expenses
$12,997,164
$12,555,692
-3%
Net income
2023
2024
Change
Net income
-$3,706,611
-$4,290,148
-16%
Functional Expenses
Summary
2023
2024
Change
Program
$9,091,488
$8,565,336
-6%
Admin
$1,777,944
$2,071,581
+17%
Fundraising
$2,127,732
$1,918,775
-10%
Total Expenses
$12,997,164
$12,555,692
-3%
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