Tampa Preparatory School looks durable. The school holds 2.0 years of operating cushion, a healthy buffer. Revenue is 81% tuition-dependent (peer median 86%), concentrated but in line with most independent day schools. Staff compensation runs 57% of expenses, about par for the peer cohort. Net assets are growing 21.4%/yr over three years; the cushion is being built, not drawn. NACUBO Composite Financial Index: 8.6 / 10, strong.
Tampa Preparatory School reported $25.9M in revenue against $21.8M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $43.2M — about 1.98x annual operating expense.
Operating margin landed at 15.8%, with 81.4% of revenue coming from tuition. Among same-size peers, that puts Tampa Preparatory School at the p83 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.