Church Farm School

Church Farm School is burning the cushion faster than the 15.3-year buffer suggests. Expenses are outpacing revenue 7.4% vs -13.6% per year over three years, and the latest operating margin is -26.0% on a 5% tuition-dependent revenue mix. Covering the deficit at today's rate, it would take more than a decade to exhaust reserves — the full budget, by contrast, is covered for about 15.3 years if every revenue line stopped. The board conversation here is the recovery plan for the residential model and the timeline to break-even. NACUBO Composite Financial Index: 4.0 / 10, adequate — monitor.

Church Farm School runs only 5% tuition-dependent — unusually diversified for an independent school. Endowment payout and contributions carry meaningful weight in the operating budget.

Church Farm School reported $10.3M in revenue against $13.0M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $199.7M — about 15.34x annual operating expense.

Operating margin landed at -26.0%, with 4.9% of revenue coming from tuition. Among same-size peers, that puts Church Farm School at the p0 on operating margin.