Thomas Hart Academy

Thomas Hart Academy is burning the cushion faster than the 8-month buffer suggests. Expenses are outpacing revenue 4.3% vs -3.8% per year over three years, and the latest operating margin is -18.6% on a 89% tuition-dependent revenue mix. Covering the deficit at today's rate, reserves would last roughly 3.6 more years — the full budget, by contrast, is covered for about 8 months if every revenue line stopped. The board conversation here is the recovery plan for the operating model and the timeline to break-even. NACUBO Composite Financial Index: -0.1 / 10, distressed.

Thomas Hart Academy reported $1.0M in revenue against $1.2M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $810K — about 0.67x annual operating expense.

Operating margin landed at -18.6%, with 88.7% of revenue coming from tuition. Among same-size peers, that puts Thomas Hart Academy at the p4 on operating margin.