Harrisburg Academy

Harrisburg Academy shows signs of real financial distress. Reserves cover under 1 months of expenses, a precarious runway. Revenue is 87% tuition-dependent (peer median 80%), concentrated but in line with most independent day schools. Staff compensation runs 67% of expenses, generous relative to peers. Expenses are outpacing revenue 6.9% vs 2.5% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: -2.0 / 10, distressed.

Harrisburg Academy holds only 1 months of operating expense in reserve — a thin runway that warrants understanding before walking into a campus visit.

Harrisburg Academy reported $7.5M in revenue against $8.3M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $492K — about 0.06x annual operating expense.

Operating margin landed at -11.1%, with 86.7% of revenue coming from tuition. Among same-size peers, that puts Harrisburg Academy at the p10 on operating margin.