Friends Meeting School

Friends Meeting School sits in the watch range. Reserves cover 9 months of operating expense, a thin runway. Revenue is 89% tuition-dependent (peer median 88%), concentrated but in line with most independent day schools. Staff compensation runs 59% of expenses, leaner than the peer median. Expenses are outpacing revenue 9.1% vs 4.1% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 2.4 / 10, watch.

Friends Meeting School reported $2.7M in revenue against $2.7M in expenses in fiscal year 2024, the most recent filing on record. Net assets stood at $2.0M — about 0.73x annual operating expense.

Operating margin landed at 0.5%, with 89.1% of revenue coming from tuition. Among same-size peers, that puts Friends Meeting School at the p24 on operating margin.