SCHOOL PROFILE · FREE PREVIEW
SCHOOL PROFILE · FREE PREVIEW
Fay School
Southborough, MA · Independent K-12NAIS MEMBER
THE READ · FREE SUMMARY
Fay School looks stable. The school holds 1.8 years of operating cushion, a healthy buffer. Revenue runs 79% tuition-dependent (peer median 83%), diversified by day-school standards, with meaningful contribution and investment income. Staff compensation runs 52% of expenses, about par for the peer cohort. Expenses are outpacing revenue 7.9% vs 2.5% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 3.5 / 10, adequate — monitor.
Fay School reported $35.1M in revenue against $35.7M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $65.5M — about 1.83x annual operating expense.
Operating margin landed at -1.7%, with 79.2% of revenue coming from tuition. Among same-size peers, that puts Fay School at the p20 on operating margin.
$35.1M
REVENUE FY2023
-1.7%
OP MARGIN
20
PEERS RESOLVED
IRS FORM 990 · DATA THROUGH FY2023
THE FULL REPORT
Subscribe to see the full report.
Ten panels on Fay School: financial health, peer comparison, community demographics, paying & giving capacity, competitive position, enrollment demand, leadership compensation, governance — and the questions to ask. One subscription opens every school.
ANNUAL SUBSCRIPTION · CANCEL ANYTIME · 99 FOUNDING SPOTS LEFT
WHERE THIS SCHOOL SITS · REVENUE SCALE VS PEERS
Among 20 similar peer schools, Fay School ranks 12th by latest 990 revenue.
Revenue scale
WHAT’S IN THE REPORT
- Financials — IRS Form 990, up to nine years on file.
- Enrollment & demand — IRS 990 tuition revenue + U.S. Census county births.
- Competition — NCES private (PSS) + public (CCD) school inventory.
- Demographics — U.S. Census Bureau, ACS 5-year estimates.
- Local economy — U.S. Bureau of Labor Statistics, QCEW and CES.
- Peer set — 1,620 independent schools with verified financials.
The full school report
Ten panels. One school. A year of access.
$250 a year — or $100 the first year for the founding 100.
ANNUAL SUBSCRIPTION · $100 FIRST YEAR FOR FOUNDING MEMBERS · CANCEL ANYTIME · 99 FOUNDING SPOTS LEFT