SCHOOL PROFILE · FREE PREVIEW
SCHOOL PROFILE · FREE PREVIEW
Headwaters Academy
Bozeman, MT · Independent schoolNAIS MEMBER
THE READ · FREE SUMMARY
Headwaters Academy looks stable. The school holds 5.4 years of operating cushion: deep institutional balance. Revenue runs 70% tuition-dependent (peer median 82%), diversified by day-school standards, with meaningful contribution and investment income. Staff compensation runs 60% of expenses, leaner than the peer median. NACUBO Composite Financial Index: 3.1 / 10, adequate — monitor.
Headwaters Academy holds 5.4 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.
Headwaters Academy reported $1.9M in revenue against $2.1M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $11.2M — about 5.36x annual operating expense.
Operating margin landed at -9.7%, with 70.4% of revenue coming from tuition. Among same-size peers, that puts Headwaters Academy at the p10 on operating margin.
$1.9M
REVENUE FY2023
-9.7%
OP MARGIN
20
PEERS RESOLVED
IRS FORM 990 · DATA THROUGH FY2023
THE FULL REPORT
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Ten panels on Headwaters Academy: 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, Headwaters Academy ranks 19th 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
Ten panels. One school. A year of access.
$250 a year — or $100 the first year for the founding 100.
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