Ayr United will this week report its first positive balance sheet in almost two decades.
Somerset chairman David Smith said the latest set of accounts were further proof of United's "continued progress as a business and football club."
Figures for the year ending June 2022 show Ayr's bottom line has moved into the black despite a year in which the club narrowly avoided relegation from the Championship.
Significant investment was also made in off field personnel which included a new managing director, commercial manager, head of recruitment and first team coach.
But this outlay, Smith said, would "drive the business forward in the forthcoming years."
The United owner highlighted new revenue streams from the likes of the Somerset Hub, while pledging the club would "continue to be bold and ambitious" with its plans "whilst managing risk in a sensible and sustainable manner."
Turnover in the year to June 30, 2022 doubled to £1.4m in the first post-pandemic season.
The revaluation of Somerset Park - carried out for the first time in more than 15 years - generated more than £360,000 for the balance sheet.
Smith hailed the move from a negative position of almost £100,000 in June 2021 to a positive balance of £48,000 one year later as a "significant moment in the club's recent history."
He told the Ayrshire Post: "This is the first time in 19 years that the club is reporting a positive balance sheet and that is a real sign of the progress being made.
"We are in this position miles quicker than I ever envisaged and it has given us the confidence to get people in the building who are really going to help us to grow.
"We've also been able to come to an agreement with certain people over historic loans they had with the club - either to pay back some of them or to have them written off entirely.
"That's taken me over two years to reach that stage but I think people can now see where we are going as a club and there is a lot of goodwill towards us because of that."
Smith stressed that pumping money into United's staffing bill, which has risen by around 20 per cent, was "entirely necessary to get the club moving forward".
He added: "The likes of Graeme Mathie and Martin Tocker have come in and they've been set really big targets which they are knocking out of the park.
"We have a football analyst in Shane Power who is producing great work, alongside a head of recruitment in Keith Glendinning who is also playing a vital part.
"And on top of that we have a manager in Lee Bullen who has just been fantastic since the day he walked through the door.
"All of these cogs in the wheel are crucial to the success we have enjoyed both on and off the park this season."
Smith added: "We were ambitious with our budget for this season and have a lot of money running about on the park right now.
"So if we're able to break even on our next set of accounts we'll be doing well but the important part is we are moving very much in the right direction.
"We have exciting future projects coming up such as the new North Stand which will be the infrastructure foundations for generations to come at the club.
"Our ongoing links with the club's Academy and ladies teams are further areas where we continue to grow.
"So we are confident that our future is bright and these accounts highlight the strength of our progress thus far."
