Akademos 2017-18 Financial Report

October 13, 2018

Akademos Society is a not-for-profit incorporated association providing financial assistance to students facing economic and social disadvantages. To this end, Akademos runs two programs: Akademos Scholarship and Kids Off The Streets. At Akademos, we are committed to our core principles of transparency and accountability. In practice this means that we keep our donors, supporters and members of the wider community informed about our operations and significant financial matters on a regular basis, that we are open to audit requests, and that we are fully responsible for the decisions made.

Financial Summary

The generosity of Akademos supporters coupled with our efficient financial management and particular attention to financial sustainability of the organisation have resulted in Akademos Society achieving a surplus of $1,662 in the financial year (FY) 2017-18.

In FY 2017-18, our total revenues grew by 30% – this was possible due to our successful annual donation campaign which inlcuded appeals on our social media pages and website, business door-knocking, approaching community organisations and attending community held events. In addition to contributions from the board members, Akademos received donations from 39 individuals and community organisations, up from 28 in FY17. In line with the revenue increase, our operating expenses also increased by 30% for the year. 93% of the expenses were direct financial assistance provided to 27 students in our programs.

Please download the full report here.

We thank our supporters and well-wishers for their ongoing support.