Page 32 - The Song Room 2021 Year in Review

BUSINESS PERFORMANCE
Careful planning and efficient financial management
The Song Room started the year in a strong financial position with secured commitments from a variety
of funders. This foundation allowed us to rise to the challenges of a second year of COVID-19 Pandemic conditions and government restrictions across education systems, and maintain a robust financial position, ending the year with a final surplus of $107,265.
Individual & general donations Corporate donations
School contributions Philanthropic trusts & foundations Government grants
Other income
In an uncertain year for many, The Song Room’s income remained stable at $3,288,185 compared to $3,320,785 in the previous year. This is a significant achievement given 15% of income in 2020 was from JobKeeper support. Strong growth in government income of 22% provided for the increase in the number of programs The Song Room delivered in 2021. Corporate income increased by 54% from the prior year. This is especially positive given the drop in corporate income in 2020 during the pandemic’s first year.
We continued to focus on effective and efficient management of resources in 2021 which resulted
in stable expenditure in Fundraising, Marketing & Operations. The increase in program delivery naturally resulted in higher expenditure in Arts Learning.
The strong financial position at the end of 2021 enables us to plan confidently for further growth.
A sustainable business model and solid program budgets, along with a well-developed fundraising strategy, provide a reliable foundation for the future.
32 The Song Room | 2021 Year in Review
2021 INCOME
2021 EXPENDITURE
11%
43%
15%
11% 3%
17%
16% 19%
Operations and governance Fundraising & marketing Arts learning programs
65%