Queensland Grammar schools cash in with $355 million combined income in 2023
Queensland’s eight Grammar schools raked in more than $355m in combined income in 2023, up more than $30m on the previous year’s results. SEE THE FULL BREAKDOWN
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Queensland’s eight Grammar schools raked in more than $355m in combined income in 2023, up more than $30m on last year’s results.
However, the elite institutions’ combined profits shrunk slightly in this time, going from more than $14.2m total surplus in 2022 to just under $13.2m combined surplus in 2023.
The Courier-Mail analysed the eight schools’ financial statements contained within their 2023 annual reports, which were tabled on Tuesday through State Parliament.
As was the case in the 2022 analysis, Brisbane Grammar School registered the highest operating income, raking in $81.45m in 2023.
However, the greatest percentage income increase was recorded by Ipswich Grammar School, whose income went from $29.22m to $33.96m – a 16 per cent increase in 2023.
As was the case in 2022, Brisbane Girls Grammar School registered the greatest profit margin for 2023, finishing with a $3.03m surplus last year.
Another aspect under the microscope are enrolment application fees.
These are charges which parents must pay to apply to send their child to these Grammar schools, with no guarantee they will be successful and no refund if their application fails.
Only four Grammar schools specified in their 2023 annual reports how much they generated in enrolment application fees – Ipswich, Townsville, Brisbane, and Brisbane Girls Grammar.
Last year, those four combined made $1.27m in non-refundable enrolment application fees. This was up from a combined $1.04m in 2022.
Brisbane Grammar charges $550 per application and made $559,000 in all last year, Brisbane Girls Grammar set theirs at $500 each and generated $479,000 in total, Townsville and Ipswich Grammar charge $150 apiece and made totals of $171,000 and $66,000 respectively.
In the following analysis, The Courier-Mail chose to not include every source of the schools’ income, but rather, highlight the main revenue streams and provide totals.
Brisbane Grammar School
Revenue – 2023
Tuition/boarding/enrolment fees: $58,846,000
Government grants: $12,534,000
Donations: $2,167,000
Total operating income: $81,455,000
Operating profit: $1,157,000
Revenue – 2022
Tuition/boarding/enrolment fees: $53,618,000
Government grants: $12,243,000
Donations: $1,992,000
Total operating income: $71,437,000
Operating profit: $819,000
Brisbane Girls Grammar School
Revenue – 2023
Tuition fees: $44,741,480
Government grants: $9,579,670
Donations: $673,023
Total operating income: $59,569,690
Operating profit: $3,031,149
Revenue – 2022
Tuition fees: $42,391,905
Government grants: $9,473,806
Donations: $1,083,701
Total operating income: $55,963,337
Operating profit: $3,676,844
Ipswich Girls Grammar School
Revenue – 2023
Tuition & boarding fees: $13,948,975
Government grants: $11,526,414
Donations: $78,592
Total operating income: $31,755,224
Operating profit: $2,200,586
Revenue – 2022
Tuition & boarding fees: $12,121,850
Government grants: $10,607,697
Donations: $113,024
Total operating income: $28,287,355
Operating profit: $2,137,740
Ipswich Grammar School
Revenue – 2023
Tuition fees: $17,215,000
Grants & contributions: $14,189,000
Donations: $175,000
Total operating income: $33,961,000
Operating profit: $930,000
Revenue – 2022
Tuition & boarding fees: $14,737,000
Grants & contributions: $12,261,000
Donations: $158,000
Total operating income: $29,229,000
Operating profit: $1,057,000
Rockhampton Girls Grammar School
Revenue – 2023
Tuition & boarding fees: $5,529,698
Government grants: $6,494,200
Donations: $104,538
Total operating income: $13,210,100
Operating profit: $1,417,667
Revenue – 2022
Tuition & boarding fees: $4,892,811
Government grants: $6,486,439
Donations: $107,473
Total operating income: $12,553,882
Operating profit: $1,773,496
The Rockhampton Grammar School
Revenue – 2023
Fees: $22,447,343
Government grants: $19,781,539
Donations: $139,977
Total operating income: $53,464,186
Operating profit: $2,950,242
Revenue – 2022
Fees: $20,374,999
Government grants: $19,194,843
Donations: $103,524
Total operating income: $48,586,925
Operating profit: $1,511,640
Toowoomba Grammar School
Revenue – 2023
Fees: $27,065,709
Government grants: $13,700,945
Donations: $187,828
Total operating income: $44,251,111
Operating profit: $1,488,543
Revenue – 2022
Fees: $25,037,130
Government grants: $13,395,900
Donations: $558,218
Total operating income: $41,713,232
Operating profit: $1,426,928
Townsville Grammar School
Revenue – 2023
Tuition fees: $17,605,490
Government grants: $15,558,300
Total operating income: $37,947,414
Operating profit: $1,420,614
Revenue – 2022
Fees: $16,956,945
Government grants: $15,427,071
Total operating income: $36,192,491
Operating profit: $2,703,031
Originally published as Queensland Grammar schools cash in with $355 million combined income in 2023
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