Ariadne’s programmatic work continued to grow in FY22, with grant revenue increasing by $1.47 million. Amid economic uncertainty that drove a nationwide trend toward decreased philanthropic giving, gifts brought in $1.3 million less than anticipated. Miscellaneous expenses increased by $700,000, due largely to consulting expenses related to interim staffing for essential staff roles.
Operating losses were offset by a $3.38 million reduction in expenses from FY21. We headed into FY23 with a positive financial outlook, anticipating increased levels of grant funding to further offset expenses.
| FISCAL YEAR ’20 | FY ’21 | FY ’22 | |
| Revenue ($ Millions) | $27.8 | $27.0 | $19.5 |
| Expenses ($ Millions) | $25.7 | $25.1 | $21.7 |
FY22 Revenue and Expenses
FY22 Revenue by Source — $19.5M
FY22 Expenditure by Type — $21.7M
FY22 Revenue by Source – $19.5M
| Non-Federal Grants & Contracts | 9,140,059 |
| Federal Grants | 1,247,740 |
| Gifts | 4,925,337 |
| IDC & Gift Fees | 3,092,242 |
| Other Revenue | 37,353 |
| Capital Contributions | 1,118,830 |
| 19,561,563 |
FY22 Expenditure by Type – $21.7M
| Direct Salary & Fringe | 12,439,689 |
| Subcontracts/Professional Services | 2,081,488 |
| Real Estate | 1,232,308 |
| Other Misc Expense | 1,218,252 |
| 10% Admin Fees | 1,697,174 |
| IDC & Gift Fees | 3,092,242 |
| 21,761,153 |