Ann Arbor Academy

Ann Arbor Academy looks strained. Reserves cover 4 months of operating expense, a thin runway. Revenue is highly concentrated at 90% tuition-dependent (peer median 80%): a soft admissions year would flow straight to the bottom line. Staff compensation runs 79% of expenses, generous relative to peers. Net assets are growing 21.5%/yr over three years; the cushion is being built, not drawn. NACUBO Composite Financial Index: 1.0 / 10, re-engineer.

Ann Arbor Academy operates at 90% tuition dependency — among the most tuition-reliant 20% of peers in its cohort. A soft admissions year would flow straight to operations.

Ann Arbor Academy reported $1.9M in revenue against $1.9M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $629K — about 0.34x annual operating expense.

Operating margin landed at -0.1%, with 90.1% of revenue coming from tuition. Among same-size peers, that puts Ann Arbor Academy at the p60 on operating margin.