Bergman Academy

Bergman Academy is burning the cushion faster than the 3-month buffer suggests. Expenses are outpacing revenue 4.3% vs -6.0% per year over three years, and the latest operating margin is -10.0% on a 97% tuition-dependent revenue mix. Covering the deficit at today's rate, reserves would last roughly 2.7 more years — the full budget, by contrast, is covered for about 3 months if every revenue line stopped. The board conversation here is the recovery plan for the operating model and the timeline to break-even. NACUBO Composite Financial Index: -1.4 / 10, distressed.

Bergman Academy operates at 97% tuition dependency — among the most tuition-reliant 3% of peers in its cohort. A soft admissions year would flow straight to operations.

Bergman Academy reported $4.7M in revenue against $5.2M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $1.4M — about 0.27x annual operating expense.

Operating margin landed at -10.0%, with 96.8% of revenue coming from tuition. Among same-size peers, that puts Bergman Academy at the p23 on operating margin.