Salisbury Academy

Salisbury Academy shows signs of real financial distress. Reserves cover 6 months of operating expense, a thin runway. Revenue runs 75% tuition-dependent (peer median 87%), diversified by day-school standards, with meaningful contribution and investment income. Staff compensation runs 65% of expenses, well below the peer median, worth understanding why. Expenses are outpacing revenue 15.8% vs 13.7% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: -0.7 / 10, distressed.

Salisbury Academy holds only 6 months of operating expense in reserve — a thin runway that warrants understanding before walking into a campus visit.

Salisbury Academy reported $3.4M in revenue against $3.6M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $1.7M — about 0.47x annual operating expense.

Operating margin landed at -4.6%, with 75.5% of revenue coming from tuition. Among same-size peers, that puts Salisbury Academy at the p21 on operating margin.