The total income for the year was $4,336,725, reflecting an 8% higher increase compared to the previous year.
Key sources of growth included a steady increase in membership and enhanced philanthropic support along with individual donations.
We sincerely thank and deeply appreciate all our supporters for their continued dedication to ACOSS and its mission.
The total expenditure for the year amounted to $4,114,908, with wages comprising the largest expense at 72% of total costs. Travel activities have returned to pre-Covid level, and there has been an increase in administration costs including continued investments in IT and cyber security.
As of June 30, 2024, ACOSS’s balance sheet shows a healthy financial position in line with the benchmark established by the Board to safeguard against unforeseen financial risks.
The 2024 financial statements have been audited by SDJA, resulting in an unmodified audit opinion. The financial statements can be accessed and is available on the Australian Charities and Not-for-profits Commission (ACNC) website
Matt Gardiner
ACOSS Treasurer