SYNERGY ACADEMIES
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$28,862,511
Government Grants
95%
Investments
4%
Contributions
<1%
Other
<1%
Fundraising Events
<1%
Program Services
0%
Membership Dues
0%
Expenses in 2024
$27,205,358
Salaries & Benefits
68%
Fees to Service Providers
13%
Other
13%
Offices, Occupancy & IT
6%
Depreciation
<1%
Advertising & Promotion
<1%
Interest
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$108,331
$153,809
+42%
Government Grants
$24,886,211
$27,506,006
+11%
Fundraising Events
$0
$4,000
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$642,165
$1,125,260
+75%
Other
$160,520
$73,436
-54%
Total Revenues
$25,797,227
$28,862,511
+12%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$15,629,988
$18,408,493
+18%
Fees to Service Providers
$2,906,750
$3,540,647
+22%
Advertising & Promotion
$0
$57,319
-
Offices, Occupancy & IT
$1,420,535
$1,669,361
+18%
Interest
$3,592
$6,828
+90%
Depreciation
$32,915
$74,351
+126%
Other
$3,986,908
$3,448,359
-14%
Total Expenses
$23,980,688
$27,205,358
+13%
Net income
2023
2024
Change
Net income
+$1,816,539
+$1,657,153
-9%
Functional Expenses
Summary
2023
2024
Change
Program
$21,552,980
$24,495,859
+14%
Admin
$2,425,517
$2,709,499
+12%
Fundraising
$2,191
$0
-100%
Total Expenses
$23,980,688
$27,205,358
+13%
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