WORCESTER ACADEMY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$36,715,667
Program Services
74%
Contributions
14%
Other
7%
Investments
5%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$33,119,852
Salaries & Benefits
42%
Grants
22%
Offices, Occupancy & IT
14%
Other
9%
Depreciation
8%
Fees to Service Providers
3%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,139,319
$5,269,274
+68%
Government Grants
$2,834,367
$0
-100%
Fundraising Events
$0
$0
-
Program Services
$25,392,933
$27,207,034
+7%
Membership Dues
$0
$0
-
Investments
$2,006,524
$1,770,449
-12%
Other
$1,214,822
$2,468,910
+103%
Total Revenues
$34,587,965
$36,715,667
+6%
Expenses
2023
2024
Change
Grants
$6,738,988
$7,217,885
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$13,722,262
$13,962,394
+2%
Fees to Service Providers
$991,796
$844,264
-15%
Advertising & Promotion
$292,198
$250,916
-14%
Offices, Occupancy & IT
$4,337,789
$4,557,045
+5%
Interest
$346,127
$514,905
+49%
Depreciation
$2,815,066
$2,748,257
-2%
Other
$2,839,672
$3,024,186
+6%
Total Expenses
$32,083,898
$33,119,852
+3%
Net income
2023
2024
Change
Net income
+$2,504,067
+$3,595,815
+44%
Functional Expenses
Summary
2023
2024
Change
Program
$25,980,632
$27,757,829
+7%
Admin
$4,704,788
$3,889,066
-17%
Fundraising
$1,398,478
$1,472,957
+5%
Total Expenses
$32,083,898
$33,119,852
+3%
Copyright 2026. All rights reserved to Chario Inc. (d.b.a. Impala)