Denver Academy looks durable. The school holds 3.2 years of operating cushion: deep institutional balance. Revenue is 88% tuition-dependent (peer median 82%), concentrated but in line with most independent day schools. Staff compensation runs 64% of expenses, about par for the peer cohort. Expenses are outpacing revenue 8.0% vs 4.8% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 7.0 / 10, strong.
Denver Academy holds 3.2 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.
Denver Academy reported $19.4M in revenue against $17.8M in expenses in fiscal year 2024, the most recent filing on record. Net assets stood at $56.9M — about 3.19x annual operating expense.
Operating margin landed at 8.1%, with 88.0% of revenue coming from tuition. Among same-size peers, that puts Denver Academy at the p87 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.