The ASI will report major boosts in income and services at its annual meeting today.
Eight years after the academy started operating, its Logan Park centre of excellence has expanded rapidly to deliver support to more than 500 athletes and coaches.
The ASI will report a surplus of $24,453 for the year ending June 30, and a movement in equity from $484,111 to $508,754.
The academy and its Education Trust combined for record income of $4.35 million, up from $3.54 million the previous year.
Its expenditure was also up significantly, from $3.56 million to $4.33 million, as it spent nearly $1.2 million more on delivering programmes and services.
Smith said it was pleasing to look back on how far the ASI had come, and especially how it was raising more money to support athletes and coaches.
"We've been going eight years and I guess we've gradually worked really hard at relationships and building credibility," Smith said yesterday.
"It's taken time to turn that into income but we feel we're making good progress now."
Smith estimated the academy generated about a third as much income when it started.
"One thing we're really proud of is that we raise a lot of money compared to our partner organisation in the North Island. We have to raise a considerable amount as a proportion of our income to provide the services we want to."
Smith said the money was put to good use.
It had been a big year for the academy, with world championships in rugby, netball and bowls followed by the Olympic Games and Paralympics in Beijing.
The academy was also working on its $300,000 project to develop a training base in Christchurch.
Smith said the organisation was still concentrating on its core business of delivering support to athletes but its "niche" programmes, like the wintersport programme, the motorsport academy and talent development projects, were also thriving.
The ASI has developed a strategy looking ahead to 2012 in line with Sparc's own high performance strategy.
Academy staff, athletes, coaches and guests will celebrate the year at a function at the Dunedin Public Art Gallery this evening.
