Tensas Academy

Tensas Academy is burning the cushion faster than the 10-month buffer suggests. Expenses are outpacing revenue 40.2% vs 26.9% per year over three years, and the latest operating margin is -10.1% on a 58% tuition-dependent revenue mix. Covering the deficit at today's rate, reserves would last roughly 8.4 more years — the full budget, by contrast, is covered for about 10 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: 1.0 / 10, watch.

Tensas Academy reported $1.3M in revenue against $1.4M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $1.2M — about 0.85x annual operating expense.

Operating margin landed at -10.2%, with 58.0% of revenue coming from tuition. Among same-size peers, that puts Tensas Academy at the p21 on operating margin.