Marlboro Academy

Marlboro Academy sits in the watch range. The school holds 12 months of operating cushion, adequate runway. Revenue is highly concentrated at 90% tuition-dependent (peer median 89%): a soft admissions year would flow straight to the bottom line. Staff compensation runs 60% of expenses, well below the peer median, worth understanding why. Expenses are outpacing revenue 9.3% vs 6.3% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 1.1 / 10, watch.

Marlboro Academy reported $1.9M in revenue against $2.1M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $2.1M — about 0.99x annual operating expense.

Operating margin landed at -12.6%, with 90.1% of revenue coming from tuition. Among same-size peers, that puts Marlboro Academy at the p15 on operating margin.