Page 30 - 2022 The Song Room Year in Review

BUSINESS PERFORMANCE
Strong growth in engagement and program delivery is evident in The Song Room’s 2022 financial statements.
It was a big year for the organisation with income growth of 27% and a final surplus that was 73% higher than the previous year. Total income for the year was $4,168,426 compared to $3,290,704 in 2021. Higher income supported an increase in Arts Learning expenditure of 32% as we significantly increased program delivery in 2022.
Government funding increased by a substantial 60% and Philanthropic income by 34%. Program growth was especially high in Victoria with the roll out of the Kaleidoscope program focusing on student wellbeing. At the same time small decreases in Corporate and Individual donations compared to 2021 depict a more challenging economic environment.
While program expenditure increased by more than a third, costs in Fundraising, Marketing and Operations were only slightly higher at just over 10%. There was a strategic focus in strengthening organisational capacity and core operations with the introduction of human resource management system, Employment Hero, partnership with the Voice Project, and significant advances in professional and performance development for staff and Teaching Artists. Excluding this capacity building expenditure, costs in all areas outside of Arts Learning remained stable, despite the increases in program delivery, as we successfully developed our ability to scale.
The coming year is likely to be financially challenging for the not for profit sector but our strong position at the end of 2022 will support The Song Room’s ability to withstand this. We remain focused on the effective and efficient management of our resources. Sustainable business models and program budgets along with a well-developed fundraising strategy continue to provide a reliable foundation for the future.
Income
54%
6% 2%
Individual & General Donations Corporate Supporters
School Contributions
Philanthropic Trusts & Foundations Government Grants
Other income
8% 14% 16%
Expenditure
30 THE SONG ROOM: 2022 YEAR IN REVIEW
68%
14% 17%
Operations and Governance Fundraising & Marketing Arts Learning Programs
IMAGE: STUDENTS ENJOY MUSIC CLASS AT LIVERPOOL PUBLIC SCHOOL, NSW
BUSINESS PERFORMANCE