SCHOOL PROFILE · FREE PREVIEW
SCHOOL PROFILE · FREE PREVIEW
Norwich Free Academy
, CT · Independent K-12
THE READ · FREE SUMMARY
Norwich Free Academy sits in the watch range. The school holds 11 months of operating cushion, adequate runway. Revenue is highly concentrated at 91% tuition-dependent (peer median 79%): a soft admissions year would flow straight to the bottom line. Staff compensation runs 75% of expenses, generous relative to peers. Expenses are outpacing revenue 2.2% vs -2.2% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 1.9 / 10, watch.
Norwich Free Academy operates at 91% tuition dependency — among the most tuition-reliant 3% of peers in its cohort. A soft admissions year would flow straight to operations.
Norwich Free Academy reported $39.9M in revenue against $42.2M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $39.7M — about 0.94x annual operating expense.
Operating margin landed at -5.7%, with 91.4% of revenue coming from tuition. Among same-size peers, that puts Norwich Free Academy at the p7 on operating margin.
$39.9M
REVENUE FY2023
-5.7%
OP MARGIN
20
PEERS RESOLVED
IRS FORM 990 · DATA THROUGH FY2023
THE FULL REPORT
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Ten panels on Norwich Free Academy: 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, Norwich Free Academy ranks 11th 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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