Park School Corporation

Park School Corporation is burning the cushion faster than the 24-month buffer suggests. Expenses are outpacing revenue 8.7% vs 0.2% per year over three years, and the latest operating margin is -11.2% on a 92% tuition-dependent revenue mix. Covering the deficit at today's rate, it would take more than a decade to exhaust reserves — the full budget, by contrast, is covered for about 2.0 years 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: 2.9 / 10, watch.

Park School Corporation operates at 92% tuition dependency — among the most tuition-reliant 7% of peers in its cohort. A soft admissions year would flow straight to operations.

Park School Corporation reported $34.1M in revenue against $37.9M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $75.7M — about 2.00x annual operating expense.

Operating margin landed at -11.2%, with 91.6% of revenue coming from tuition. Among same-size peers, that puts Park School Corporation at the p3 on operating margin.