SCHOOL PROFILE · FREE PREVIEW
SCHOOL PROFILE · FREE PREVIEW
Nichols School
Buffalo, NY · Independent schoolNAIS MEMBER
THE READ · FREE SUMMARY
Nichols School looks durable. The school holds 4.4 years of operating cushion: deep institutional balance. Revenue runs 76% tuition-dependent (peer median 86%), diversified by day-school standards, with meaningful contribution and investment income. Staff compensation runs 50% of expenses, well below the peer median, worth understanding why. Expenses are outpacing revenue 6.5% vs -18.2% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 5.6 / 10, strong.
Nichols School holds 4.4 years of operating expense in net assets — a deeper reserve position than most independent day schools carry. Less exposed than peers to a one-year admissions shock.
Nichols School reported $23.1M in revenue against $22.7M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $100.8M — about 4.43x annual operating expense.
Operating margin landed at 1.5%, with 76.2% of revenue coming from tuition. Among same-size peers, that puts Nichols School at the p53 on operating margin.
$23.1M
REVENUE FY2023
1.5%
OP MARGIN
20
PEERS RESOLVED
IRS FORM 990 · DATA THROUGH FY2023
THE FULL REPORT
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Ten panels on Nichols 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, Nichols School 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.
The full school report
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