Bancroft School

Bancroft School is burning the cushion faster than the 12-month buffer suggests. Expenses are outpacing revenue 1.1% vs -7.7% per year over three years, and the latest operating margin is -25.6% on a 93% tuition-dependent revenue mix. Covering the deficit at today's rate, reserves would last roughly 3.8 more years — the full budget, by contrast, is covered for about 12 months if every revenue line stopped. The board conversation here is the recovery plan for the operating model and the timeline to break-even. NACUBO Composite Financial Index: 0.8 / 10, re-engineer.

Bancroft School operates at 93% tuition dependency — among the most tuition-reliant 3% of peers in its cohort. A soft admissions year would flow straight to operations.

Bancroft School reported $16.4M in revenue against $20.6M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $20.1M — about 0.98x annual operating expense.

Operating margin landed at -25.6%, with 93.5% of revenue coming from tuition. Among same-size peers, that puts Bancroft School at the p0 on operating margin.