Harding Academy

Harding Academy looks durable. The school holds 3.1 years of operating cushion: deep institutional balance. Revenue runs 69% tuition-dependent (peer median 78%), diversified by day-school standards, with meaningful contribution and investment income. Staff compensation runs 67% of expenses, generous relative to peers. Net assets are growing 9.3%/yr over three years; the cushion is being built, not drawn. NACUBO Composite Financial Index: 9.6 / 10, strong.

Harding Academy holds 3.1 years of operating expense in net assets — a deeper reserve position than most independent day schools carry. Less exposed than peers to a one-year admissions shock.

Harding Academy reported $18.2M in revenue against $13.7M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $41.8M — about 3.05x annual operating expense.

Operating margin landed at 24.6%, with 69.4% of revenue coming from tuition. Among same-size peers, that puts Harding Academy at the p87 on operating margin.