The Miller School of Albemarle looks stable. The school holds 2.8 years of operating cushion, on the lighter end for a boarding school. Revenue runs 88% tuition-dependent (HiveCheck peer-group median 82%), heavier than the boarding cohort typically carries, so the cushion does real work. Staff compensation runs 44% of expenses, well below the peer median, worth understanding why. Net assets are growing 12.9%/yr over three years; the cushion is being built, not drawn. NACUBO Composite Financial Index: 4.2 / 10, adequate — monitor.
The Miller School of Albemarle reported $14.1M in revenue against $14.4M in expenses in fiscal year 2024, the most recent filing on record. Net assets stood at $40.7M — about 2.82x annual operating expense.
Operating margin landed at -2.8%, with 87.9% of revenue coming from tuition. Among same-size peers, that puts The Miller School of Albemarle at the p13 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.