FAITH ACADEMY OF MOBILE INC
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$13,400,826
Program Services
94%
Other
3%
Investments
2%
Contributions
<1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$11,581,428
Other
83%
Salaries & Benefits
10%
Depreciation
5%
Fees to Service Providers
1%
Offices, Occupancy & IT
<1%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$891,440
$17,399
-98%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$11,910,812
$12,631,648
+6%
Membership Dues
$0
$0
-
Investments
$53,733
$333,557
+521%
Other
$979,515
$418,222
-57%
Total Revenues
$13,835,500
$13,400,826
-3%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$6,241,485
$1,155,951
-81%
Fees to Service Providers
$94,202
$163,777
+74%
Advertising & Promotion
$7,174
$10,177
+42%
Offices, Occupancy & IT
$60,843
$52,211
-14%
Interest
$0
$0
-
Depreciation
$652,344
$584,128
-10%
Other
$3,966,344
$9,615,184
+142%
Total Expenses
$11,022,392
$11,581,428
+5%
Net income
2023
2024
Change
Net income
+$2,813,108
+$1,819,398
-35%
Functional Expenses
Summary
2023
2024
Change
Program
$8,487,197
$8,793,804
+4%
Admin
$2,535,195
$2,787,624
+10%
Fundraising
$0
$0
-
Total Expenses
$11,022,392
$11,581,428
+5%
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