SCHOOL PROFILE · FREE PREVIEW
SCHOOL PROFILE · FREE PREVIEW
The Forman School
Litchfield, CT · Independent schoolNAIS MEMBER
THE READ · FREE SUMMARY
The Forman School looks stable. The school holds only 18 months of operating cushion, unusually thin for a boarding school's residential capex load. Revenue runs 83% tuition-dependent (peer median 84%), heavier than the boarding cohort typically carries, so the cushion does real work. Staff compensation runs 49% of expenses, leaner than the peer median. Expenses are outpacing revenue 5.4% vs -1.1% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 4.8 / 10, adequate — monitor.
The Forman School reported $23.9M in revenue against $23.7M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $35.3M — about 1.49x annual operating expense.
Operating margin landed at 0.6%, with 83.0% of revenue coming from tuition. Among same-size peers, that puts The Forman School at the p33 on operating margin.
$23.9M
REVENUE FY2023
0.6%
OP MARGIN
20
PEERS RESOLVED
IRS FORM 990 · DATA THROUGH FY2023
THE FULL REPORT
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Ten panels on The Forman 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.
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WHERE THIS SCHOOL SITS · REVENUE SCALE VS PEERS
Among 20 similar peer schools, The Forman School ranks 7th 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.
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