The Madeira School looks durable. The school holds 8.4 years of operating cushion, typical for a residential school of this scale. Revenue is unusually diversified at 26% tuition-dependent (HiveCheck peer-group median 85%), with the endowment and gifts carrying real weight. Staff compensation runs 42% of expenses, well below the peer median, worth understanding why. Net assets are growing 14.2%/yr over three years; the cushion is being built, not drawn. NACUBO Composite Financial Index: 10.0 / 10, strong.
The Madeira School runs only 26% tuition-dependent — unusually diversified for an independent school. Endowment payout and contributions carry meaningful weight in the operating budget.
The Madeira School reported $96.8M in revenue against $31.0M in expenses in fiscal year 2024, the most recent filing on record. Net assets stood at $259.6M — about 8.38x annual operating expense.
Operating margin landed at 68.0%, with 25.7% of revenue coming from tuition. Among same-size peers, that puts The Madeira School at the p100 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.