Friends Western School

Friends Western School looks stable. Reserves cover 5 months of operating expense, a thin runway. Revenue is highly concentrated at 92% tuition-dependent (peer median 76%): a soft admissions year would flow straight to the bottom line. Staff compensation runs 69% of expenses, about par for the peer cohort. Net assets are growing 5.4%/yr over three years; the cushion is being built, not drawn. NACUBO Composite Financial Index: 4.9 / 10, adequate — monitor.

Friends Western School operates at 92% tuition dependency — among the most tuition-reliant 18% of peers in its cohort. A soft admissions year would flow straight to operations.

Friends Western School reported $709K in revenue against $673K in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $289K — about 0.43x annual operating expense.

Operating margin landed at 5.0%, with 92.0% of revenue coming from tuition. Among same-size peers, that puts Friends Western School at the p64 on operating margin.