INSTITUTE FOR SHIPBOARD EDUCATION
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$42,532,843
Program Services
84%
Contributions
11%
Investments
3%
Other
2%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$41,347,409
Other
56%
Salaries & Benefits
16%
Grants
13%
Depreciation
7%
Fees to Service Providers
4%
Offices, Occupancy & IT
4%
Interest
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,769,334
$4,490,628
+19%
Government Grants
$287,483
$0
-100%
Fundraising Events
$0
$0
-
Program Services
$34,194,282
$35,826,355
+5%
Membership Dues
$0
$0
-
Investments
$1,057,239
$1,315,534
+24%
Other
$162,723
$900,326
+453%
Total Revenues
$39,471,061
$42,532,843
+8%
Expenses
2023
2024
Change
Grants
$5,914,804
$5,269,841
-11%
Benefits to Members
$0
$0
-
Salaries & Benefits
$6,210,270
$6,747,266
+9%
Fees to Service Providers
$1,142,156
$1,665,015
+46%
Advertising & Promotion
$2,746
$3,085
+12%
Offices, Occupancy & IT
$1,583,756
$1,538,565
-3%
Interest
$65,946
$70,274
+7%
Depreciation
$2,880,860
$2,944,618
+2%
Other
$20,899,831
$23,108,745
+11%
Total Expenses
$38,700,369
$41,347,409
+7%
Net income
2023
2024
Change
Net income
+$770,692
+$1,185,434
+54%
Functional Expenses
Summary
2023
2024
Change
Program
$33,646,981
$34,534,817
+3%
Admin
$3,741,704
$5,850,500
+56%
Fundraising
$1,311,684
$962,092
-27%
Total Expenses
$38,700,369
$41,347,409
+7%
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