SCHOOL PROFILE · FREE PREVIEW
SCHOOL PROFILE · FREE PREVIEW
Westover School
Middlebury, CT · Independent schoolNAIS MEMBER
THE READ · FREE SUMMARY
Westover School sits in the watch range. The school holds 3.8 years of operating cushion, on the lighter end for a boarding school. Revenue is unusually diversified at 54% tuition-dependent (peer median 81%), with the endowment and gifts carrying real weight. Staff compensation runs 36% of expenses, well below the peer median, worth understanding why. Three-year net-asset trend is negative (-3.6%/yr), indicating reserve drawdown. NACUBO Composite Financial Index: 2.6 / 10, watch.
Westover School runs only 54% tuition-dependent — unusually diversified for an independent school. Endowment payout and contributions carry meaningful weight in the operating budget.
Westover School reported $17.9M in revenue against $21.3M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $81.3M — about 3.81x annual operating expense.
Operating margin landed at -19.2%, with 53.8% of revenue coming from tuition. Among same-size peers, that puts Westover School at the p3 on operating margin.
$17.9M
REVENUE FY2023
-19.2%
OP MARGIN
20
PEERS RESOLVED
IRS FORM 990 · DATA THROUGH FY2023
THE FULL REPORT
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Ten panels on Westover 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, Westover 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.
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