Concord Academy

Concord Academy looks durable. The school holds 4.7 years of operating cushion, on the lighter end for a boarding school. Revenue is unusually diversified at 54% tuition-dependent (peer median 74%), with the endowment and gifts carrying real weight. Staff compensation runs 53% of expenses, about par for the peer cohort. Net assets are growing 10.8%/yr over three years; the cushion is being built, not drawn. NACUBO Composite Financial Index: 9.5 / 10, strong.

Concord Academy runs only 54% tuition-dependent — unusually diversified for an independent school. Endowment payout and contributions carry meaningful weight in the operating budget.

Concord Academy reported $53.7M in revenue against $37.0M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $175.1M — about 4.73x annual operating expense.

Operating margin landed at 31.1%, with 53.9% of revenue coming from tuition. Among same-size peers, that puts Concord Academy at the p93 on operating margin.