THE TRUSTEES OF THE CUSHING ACADEMY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$37,294,989
Program Services
86%
Contributions
8%
Investments
5%
Other
<1%
Fundraising Events
<1%
Government Grants
0%
Membership Dues
0%
Expenses in 2024
$34,623,042
Salaries & Benefits
42%
Other
15%
Grants
15%
Depreciation
14%
Offices, Occupancy & IT
11%
Fees to Service Providers
2%
Interest
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,013,576
$2,833,307
-6%
Government Grants
$0
$0
-
Fundraising Events
$56,309
$97,770
+74%
Program Services
$31,588,225
$32,092,425
+2%
Membership Dues
$0
$0
-
Investments
$374,752
$1,925,801
+414%
Other
$412,238
$345,686
-16%
Total Revenues
$35,445,100
$37,294,989
+5%
Expenses
2023
2024
Change
Grants
$5,552,113
$5,063,901
-9%
Benefits to Members
$0
$0
-
Salaries & Benefits
$13,461,654
$14,645,618
+9%
Fees to Service Providers
$1,197,899
$552,258
-54%
Advertising & Promotion
$78,750
$10,045
-87%
Offices, Occupancy & IT
$3,486,454
$3,751,318
+8%
Interest
$485,251
$459,499
-5%
Depreciation
$4,614,152
$4,862,080
+5%
Other
$4,269,231
$5,278,323
+24%
Total Expenses
$33,145,504
$34,623,042
+4%
Net income
2023
2024
Change
Net income
+$2,299,596
+$2,671,947
+16%
Functional Expenses
Summary
2023
2024
Change
Program
$26,472,139
$27,469,352
+4%
Admin
$5,176,183
$5,649,507
+9%
Fundraising
$1,497,182
$1,504,183
+0%
Total Expenses
$33,145,504
$34,623,042
+4%
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