NEWARK ACADEMY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$44,405,009
Program Services
81%
Contributions
12%
Investments
5%
Other
2%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$39,648,108
Salaries & Benefits
57%
Other
25%
Grants
10%
Depreciation
5%
Offices, Occupancy & IT
3%
Interest
<1%
Benefits to Members
0%
Fees to Service Providers
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$3,171,404
$5,139,951
+62%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$34,866,737
$36,037,708
+3%
Membership Dues
$0
$0
-
Investments
$1,561,613
$2,286,570
+46%
Other
$439,052
$940,780
+114%
Total Revenues
$40,038,806
$44,405,009
+11%
Expenses
2023
2024
Change
Grants
$3,736,263
$4,004,742
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$20,890,990
$22,493,500
+8%
Fees to Service Providers
$0
$0
-
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$1,275,067
$1,271,449
0%
Interest
$19,437
$1,355
-93%
Depreciation
$1,650,781
$1,913,319
+16%
Other
$9,022,187
$9,963,743
+10%
Total Expenses
$36,594,725
$39,648,108
+8%
Net income
2023
2024
Change
Net income
+$3,444,081
+$4,756,901
+38%
Functional Expenses
Summary
2023
2024
Change
Program
$28,123,243
$30,271,692
+8%
Admin
$7,840,933
$8,833,765
+13%
Fundraising
$630,549
$542,651
-14%
Total Expenses
$36,594,725
$39,648,108
+8%
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