Academy High looks durable. The school holds 18 months of operating cushion, adequate runway. Revenue is unusually diversified at 26% tuition-dependent (peer median 85%). Staff compensation runs 56% of expenses, well below the peer median, worth understanding why. NACUBO Composite Financial Index: 9.2 / 10, strong.
Academy High runs only 26% tuition-dependent — unusually diversified for an independent school. Endowment payout and contributions carry meaningful weight in the operating budget.
Academy High reported $1.8M in revenue against $902K in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $1.3M — about 1.47x annual operating expense.
Operating margin landed at 48.5%, with 25.9% of revenue coming from tuition. Among same-size peers, that puts Academy High at the p97 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.