The Crescent Academy · July 1, 2024 – June 30, 2025
TCA ended the fiscal year with $1,859,453 in net assets. Of that amount, $1,788,936 carried donor restrictions. The balance without donor restrictions fell from $86,318 to $70,517. That distinction matters to families and donors because the school must honor restrictions when deciding which funds can pay for everyday operations.
Annual results and what changed
| Fiscal year ended June 30 | 2024 | 2025 | Change |
|---|---|---|---|
| Contributions and grants | $149,500 | $1,903,597 | $1,754,097 |
| Program service revenue | $398,204 | $482,962 | $84,758 |
| Total revenue | $547,704 | $2,386,559 | $1,838,855 |
| Compensation and payroll taxes | $462,335 | $515,180 | $52,845 |
| Other expenses | $92,503 | $98,244 | $5,741 |
| Total expenses | $554,838 | $613,424 | $58,586 |
| Revenue less expenses | ($7,134) | $1,773,135 | $1,780,269 |
Contributions and grants accounted for $1,754,097 of the $1,838,855 increase in revenue. They supplied nearly 80% of revenue in FY2025, up from 27% the year before. TCA received $16,285 in government grants and $1,887,312 in other contributions and gifts. Program revenue rose $84,758, or 21.3%.
Expenses grew $58,586, or 10.6%. Compensation and payroll taxes accounted for $52,845 of the increase. Across all funds, the school recorded a $1,773,135 surplus after a $7,134 deficit the year before. The change in unrestricted net assets shows why the overall surplus alone gives an incomplete picture of operating capacity.
What it cost to run the school
| Expense | Amount |
|---|---|
| Salaries and wages | $471,172 |
| Payroll taxes | $44,008 |
| School supplies | $41,976 |
| Occupancy | $19,062 |
| Insurance | $9,745 |
| Outside services | $8,705 |
| Printing and publications | $6,204 |
| Depreciation | $5,954 |
| Information technology | $4,348 |
| Office expenses | $967 |
| Events | $702 |
| Advertising and promotion | $581 |
| Total expenses | $613,424 |
The same $613,424 can also be viewed by purpose. TCA allocated $591,633 (96.4%) to program services and $21,791 (3.6%) to management and general expenses. The fundraising expense column totaled $0. Salaries and payroll taxes together represented 84% of expenses, so staffing costs have a direct bearing on the funds the school needs each year.
Financial position and liquidity
| Balance | June 30, 2024 | June 30, 2025 |
|---|---|---|
| Cash, savings and temporary cash investments | $36,759 | $1,807,975 |
| Property and equipment, net | $54,266 | $53,854 |
| Total assets | $91,025 | $1,861,829 |
| Total liabilities | $4,707 | $2,376 |
| Net assets without donor restrictions | $86,318 | $70,517 |
| Net assets with donor restrictions | $0 | $1,788,936 |
| Total net assets | $86,318 | $1,859,453 |
Cash and savings rose by $1,771,216. At June 30, 2025, property and equipment had a recorded cost of $134,367 and accumulated depreciation of $80,513, leaving a carrying value of $53,854. Reported liabilities declined by $2,331.
Donor restrictions applied to 96.2% of year-end net assets. The cash balance includes funds held for restricted purposes, so using the entire $1.81 million as an operating reserve would overstate the school’s flexibility. Unrestricted net assets also include noncash assets.
How the opening and closing balances reconcile
Beginning net assets of $86,318 plus the fiscal-year surplus of $1,773,135 equal ending net assets of $1,859,453. Within that total, restricted net assets rose by $1,788,936 and unrestricted net assets fell by $15,801.
How this relates to tuition affordability
TCA’s separate 2024–2025 school-year snapshot describes how families and donors shared operating costs. It records $451,349 of tuition and $188,572 of donations against $639,921 of school operating expenses. The school-year snapshot shows the share covered by families and donors. The organization-wide accounts for the fiscal year ended June 30 record $613,424 in expenses, $26,497 less than the school-year snapshot. The two summaries do not provide an item-by-item reconciliation. Fiscal-year contributions include restricted gifts, so the full $1,903,597 cannot be counted as support for everyday school costs.
Read the school-year operating snapshotGovernance and reporting basis
All five voting directors were independent. TCA used the cash method for its unaudited fiscal-year results.