INNER-CITY ARTS
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$3,978,522
Contributions
67%
Program Services
16%
Fundraising Events
6%
Government Grants
5%
Investments
3%
Other
2%
Membership Dues
0%
Expenses in 2024
$4,823,790
Salaries & Benefits
70%
Offices, Occupancy & IT
11%
Depreciation
9%
Fees to Service Providers
5%
Other
5%
Grants
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$2,745,769
$2,663,674
-3%
Government Grants
$1,137,662
$207,959
-82%
Fundraising Events
$2,073
$255,045
+12203%
Program Services
$864,264
$620,617
-28%
Membership Dues
$0
$0
-
Investments
$108,765
$136,025
+25%
Other
$62,118
$95,202
+53%
Total Revenues
$4,920,651
$3,978,522
-19%
Expenses
2023
2024
Change
Grants
$6,000
$6,400
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$2,964,165
$3,355,171
+13%
Fees to Service Providers
$482,668
$262,078
-46%
Advertising & Promotion
$349
$2,060
+490%
Offices, Occupancy & IT
$481,498
$513,846
+7%
Interest
$0
$0
-
Depreciation
$442,802
$439,972
-1%
Other
$217,868
$244,263
+12%
Total Expenses
$4,595,350
$4,823,790
+5%
Net income
2023
2024
Change
Net income
+$325,301
-$845,268
-360%
Functional Expenses
Summary
2023
2024
Change
Program
$3,320,788
$3,519,353
+6%
Admin
$971,229
$867,222
-11%
Fundraising
$303,333
$437,215
+44%
Total Expenses
$4,595,350
$4,823,790
+5%
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