STREAM OF PRAISE MUSIC MINISTRIES
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$2,523,270
Contributions
42%
Program Services
31%
Other
25%
Investments
1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$2,392,914
Salaries & Benefits
54%
Other
29%
Depreciation
7%
Interest
4%
Grants
2%
Offices, Occupancy & IT
2%
Fees to Service Providers
1%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$1,422,198
$1,068,527
-25%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$834,018
$789,037
-5%
Membership Dues
$0
$0
-
Investments
$5,262
$29,910
+468%
Other
$551,271
$635,796
+15%
Total Revenues
$2,812,749
$2,523,270
-10%
Expenses
2023
2024
Change
Grants
$109,913
$55,337
-50%
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,186,497
$1,303,364
+10%
Fees to Service Providers
$28,454
$29,056
+2%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$67,932
$49,452
-27%
Interest
$128,448
$105,946
-18%
Depreciation
$161,177
$167,390
+4%
Other
$753,130
$682,369
-9%
Total Expenses
$2,435,551
$2,392,914
-2%
Net income
2023
2024
Change
Net income
+$377,198
+$130,356
-65%
Functional Expenses
Summary
2023
2024
Change
Program
$1,955,195
$1,743,516
-11%
Admin
$480,356
$649,398
+35%
Fundraising
$0
$0
-
Total Expenses
$2,435,551
$2,392,914
-2%
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