The FAW made a post-tax profit of £891,000 for the year ending 30 June, 2016.
Turnover for the year was £21m, an increase of £10.5m (102%) on the previous year.
The financial year included the Euro 2016 finals in France, up to and including the round of 16.
The quarter-finals and semi-finals of the competition occurred in July after the end of the business year.
FAW chief executive Jonathan Ford previously said Wales' run to the semi-finals of Euro 2016 earned a £3m profit for the association.
Ford is pleased with the profit for the period 2015-16 and said it was "imperative" to invest the money in new facilities.
"We hope to use that money, together with grants we have available and together with other money we may be able to get our hands on, to continue to improve facilities," Ford told BBC Wales Sport.
"They're probably the one thing throughout this country where we are a little bit behind.
"Our commitment to improving facilities throughout Wales, especially around the areas of national development and training centres, is clearly going to be a focus for us over the coming couple of years.
"Our objective is to get more people playing football and as a result of that more people playing football to a higher standard."
The Football Association of Wales will re-invest the profit it made in 2015-16 to improve facilities, says chief executive Jonathan Ford.