Valley School of Ligonier looks stable. The school holds 3.4 years of operating cushion: deep institutional balance. Revenue is unusually diversified at 43% tuition-dependent (peer median 82%). Staff compensation runs 52% of expenses, well below the peer median, worth understanding why. Expenses are outpacing revenue 10.0% vs 6.0% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 3.2 / 10, adequate — monitor.
Valley School of Ligonier runs only 43% tuition-dependent — unusually diversified for an independent school. Endowment payout and contributions carry meaningful weight in the operating budget.
Valley School of Ligonier reported $9.8M in revenue against $10.6M in expenses in fiscal year 2024, the most recent filing on record. Net assets stood at $35.8M — about 3.39x annual operating expense.
Operating margin landed at -8.1%, with 42.7% of revenue coming from tuition. Among same-size peers, that puts Valley School of Ligonier at the p62 on operating margin.
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Why “revenue scale” and not “endowment per student”: independent-school 990s don’t carry per-school enrollment, and NCES PSS coverage is partial, so we cannot divide endowment by a verified student count for every school. The bar above is each school’s latest reported total revenue. True endowment-per-student is scheduled for v1.1+ once Schedule D Part V parsing lands.
Peers are scored by similarity along three equal-weighted dimensions: size cohort (Form 990 employee count + max-revenue tier, a proxy for student enrollment, which the 990 does not carry), geographic region (eight-region grouping), and association overlap (NAIS, NBOA, regional councils). We rank the top 20 nearest peers and chart the first 12 by latest reported revenue. Values are the school’s most recently filed total revenue on IRS Form 990.