Oldfields School

Oldfields School is burning the cushion faster than the 2.9-year buffer suggests. Expenses are outpacing revenue -18.3% vs -26.0% per year over three years, and the latest operating margin is -60.1% on a 22% tuition-dependent revenue mix. Covering the deficit at today's rate, reserves would last roughly 4.8 more years — the full budget, by contrast, is covered for about 2.9 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: 2.3 / 10, watch.

Oldfields School runs only 22% tuition-dependent — unusually diversified for an independent school. Endowment payout and contributions carry meaningful weight in the operating budget.

Oldfields School reported $3.2M in revenue against $5.1M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $14.5M — about 2.86x annual operating expense.

Operating margin landed at -60.1%, with 21.6% of revenue coming from tuition. Among same-size peers, that puts Oldfields School at the p0 on operating margin.