THE SPENCE SCHOOL
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$63,102,086
Program Services
81%
Contributions
7%
Investments
5%
Other
4%
Fundraising Events
2%
Government Grants
1%
Membership Dues
0%
Expenses in 2024
$69,870,324
Salaries & Benefits
59%
Grants
12%
Depreciation
10%
Other
8%
Offices, Occupancy & IT
7%
Fees to Service Providers
4%
Interest
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,649,526
$4,263,681
-25%
Government Grants
$443,756
$733,162
+65%
Fundraising Events
$0
$1,180,679
-
Program Services
$49,201,094
$50,829,041
+3%
Membership Dues
$0
$0
-
Investments
$2,471,033
$3,352,428
+36%
Other
$292,258
$2,743,095
+839%
Total Revenues
$58,057,667
$63,102,086
+9%
Expenses
2023
2024
Change
Grants
$7,798,750
$8,305,820
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$40,527,912
$41,248,538
+2%
Fees to Service Providers
$1,939,477
$2,482,395
+28%
Advertising & Promotion
$451,285
$434,643
-4%
Offices, Occupancy & IT
$4,496,841
$4,702,522
+5%
Interest
$628,745
$632,855
+1%
Depreciation
$6,621,295
$6,651,541
+0%
Other
$5,807,768
$5,412,010
-7%
Total Expenses
$68,272,073
$69,870,324
+2%
Net income
2023
2024
Change
Net income
-$10,214,406
-$6,768,238
+34%
Functional Expenses
Summary
2023
2024
Change
Program
$57,620,014
$59,094,690
+3%
Admin
$8,066,935
$8,270,365
+3%
Fundraising
$2,585,124
$2,505,269
-3%
Total Expenses
$68,272,073
$69,870,324
+2%
Copyright 2026. All rights reserved to Chario Inc. (d.b.a. Impala)