GROVES ACADEMY
Income Statement
Fiscal Year Start:
Sep 1
Revenues in 2024
$19,302,206
Program Services
80%
Contributions
17%
Investments
3%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$18,853,072
Salaries & Benefits
66%
Other
15%
Grants
10%
Depreciation
6%
Fees to Service Providers
2%
Offices, Occupancy & IT
<1%
Interest
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$16,217,968
$3,286,058
-80%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$13,942,956
$15,478,100
+11%
Membership Dues
$0
$0
-
Investments
$467,286
$538,048
+15%
Other
$2,010,079
$0
-100%
Total Revenues
$32,638,289
$19,302,206
-41%
Expenses
2023
2024
Change
Grants
$1,678,196
$1,886,187
+12%
Benefits to Members
$0
$0
-
Salaries & Benefits
$11,277,326
$12,441,919
+10%
Fees to Service Providers
$59,871
$350,517
+485%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$800,776
$172,401
-78%
Interest
$94,669
$167,956
+77%
Depreciation
$765,447
$1,056,078
+38%
Other
$1,702,350
$2,778,014
+63%
Total Expenses
$16,378,635
$18,853,072
+15%
Net income
2023
2024
Change
Net income
+$16,259,654
+$449,134
-97%
Functional Expenses
Summary
2023
2024
Change
Program
$11,877,169
$13,669,256
+15%
Admin
$3,531,316
$4,192,860
+19%
Fundraising
$970,150
$990,956
+2%
Total Expenses
$16,378,635
$18,853,072
+15%
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