San Francisco Waldorf School

San Francisco Waldorf School looks stable. The school holds 12 months of operating cushion, adequate runway. Revenue is 85% tuition-dependent (peer median 88%), concentrated but in line with most independent day schools. Staff compensation runs 47% of expenses, well below the peer median, worth understanding why. Expenses are outpacing revenue 23.3% vs 17.6% per year over three years, signaling margin compression worth flagging. NACUBO Composite Financial Index: 3.7 / 10, adequate — monitor.

San Francisco Waldorf School reported $19.4M in revenue against $19.2M in expenses in fiscal year 2023, the most recent filing on record. Net assets stood at $19.2M — about 1.00x annual operating expense.

Operating margin landed at 1.1%, with 85.3% of revenue coming from tuition. Among same-size peers, that puts San Francisco Waldorf School at the p40 on operating margin.