Seneca Academy has gone out of business and will be closing its school.

[Anonymous]

Anonymous wrote:The tuition was extremely low, fundraising was low, and apparently there are quite a few families on financial aid. I wish they would have charged more in tuition. We would have happily paid much more and I imagine at least some other families would have too. It's a great school and it's very sad it's come to this.

Contributions are a great way to make up for tuition that feels too low.

[Anonymous]

Why would anyone even consider paying money for their kid to attend Seneca?

[Anonymous]

Anonymous wrote:Why would anyone even consider paying money for their kid to attend Seneca?

Why are you such a btch?

It's a sweet, caring community that implements the IB curriculum. The fundraising problems are obviously a concern, but otherwise, why not?

[Anonymous]

Anonymous wrote:Why would anyone even consider paying money for their kid to attend Seneca?

Because they want to be surrounded by kind people, and that is Seneca.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What are the most important signs of financial health in the 990s? Is net revenue more/less important than net assets?

It's the ratio between revenue and expenses. Essentially, are they taking in more than they're spending? Compare their assets vs their liabilities.

I deferred to my husband on this, since he's an executive who has managed large budgets for a long time. He told me it was obvious Seneca had no money -- their expenses were more than their revenues. Said Barnesville is in good shape, despite low enrollment. Remember that these are non-profits, so you're not looking for them to be dealing with huge surpluses. Instead, look for them to have healthy investments and be bringing in more than they're spending.

You also want to look at whether the school has an endowment and a dedicated development office. Seneca had neither, which is a huge warning sign.

We are a Seneca family and will now be looking at other private school options. I am concerned that by the fall a number of the K-8s in MoCo (where we would look) could be in the same boat.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What are the most important signs of financial health in the 990s? Is net revenue more/less important than net assets?

It's the ratio between revenue and expenses. Essentially, are they taking in more than they're spending? Compare their assets vs their liabilities.

I deferred to my husband on this, since he's an executive who has managed large budgets for a long time. He told me it was obvious Seneca had no money -- their expenses were more than their revenues. Said Barnesville is in good shape, despite low enrollment. Remember that these are non-profits, so you're not looking for them to be dealing with huge surpluses. Instead, look for them to have healthy investments and be bringing in more than they're spending.

You also want to look at whether the school has an endowment and a dedicated development office. Seneca had neither, which is a huge warning sign.

We are a Seneca family and will now be looking at other private school options. I am concerned that by the fall a number of the K-8s in MoCo (where we would look) could be in the same boat.

Look at the 990s. Sadly, Seneca was having financial problems for a long time. This was not caused by the pandemic alone.

Good luck.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why would anyone even consider paying money for their kid to attend Seneca?

Because they want to be surrounded by kind people, and that is Seneca.

It was a great school. My kid learned things in much more depth than they did at Barnesville or public school. The IB curriculum makes a world of difference. Each unit of inquiry lasts six weeks and is truly cross curricular. I miss it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What are the most important signs of financial health in the 990s? Is net revenue more/less important than net assets?

It's the ratio between revenue and expenses. Essentially, are they taking in more than they're spending? Compare their assets vs their liabilities.

I deferred to my husband on this, since he's an executive who has managed large budgets for a long time. He told me it was obvious Seneca had no money -- their expenses were more than their revenues. Said Barnesville is in good shape, despite low enrollment. Remember that these are non-profits, so you're not looking for them to be dealing with huge surpluses. Instead, look for them to have healthy investments and be bringing in more than they're spending.

You also want to look at whether the school has an endowment and a dedicated development office. Seneca had neither, which is a huge warning sign.

Well Barnesville is not bringing in more than it's spending....It has a deficit for two of the three years of those available 990s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What are the most important signs of financial health in the 990s? Is net revenue more/less important than net assets?

It's the ratio between revenue and expenses. Essentially, are they taking in more than they're spending? Compare their assets vs their liabilities.

I deferred to my husband on this, since he's an executive who has managed large budgets for a long time. He told me it was obvious Seneca had no money -- their expenses were more than their revenues. Said Barnesville is in good shape, despite low enrollment. Remember that these are non-profits, so you're not looking for them to be dealing with huge surpluses. Instead, look for them to have healthy investments and be bringing in more than they're spending.

You also want to look at whether the school has an endowment and a dedicated development office. Seneca had neither, which is a huge warning sign.

Well Barnesville is not bringing in more than it's spending....It has a deficit for two of the three years of those available 990s.

Look at the assets vs liabilities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What are the most important signs of financial health in the 990s? Is net revenue more/less important than net assets?

It's the ratio between revenue and expenses. Essentially, are they taking in more than they're spending? Compare their assets vs their liabilities.

I deferred to my husband on this, since he's an executive who has managed large budgets for a long time. He told me it was obvious Seneca had no money -- their expenses were more than their revenues. Said Barnesville is in good shape, despite low enrollment. Remember that these are non-profits, so you're not looking for them to be dealing with huge surpluses. Instead, look for them to have healthy investments and be bringing in more than they're spending.

You also want to look at whether the school has an endowment and a dedicated development office. Seneca had neither, which is a huge warning sign.

Barnesville is not in good shape financially. They are holding on by a string.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why would anyone even consider paying money for their kid to attend Seneca?

Why are you such a btch?

It's a sweet, caring community that implements the IB curriculum. The fundraising problems are obviously a concern, but otherwise, why not?

You are a credit to that school, clearly.

If one is going to pay for a private education, surely there are better options.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why would anyone even consider paying money for their kid to attend Seneca?

Why are you such a btch?

It's a sweet, caring community that implements the IB curriculum. The fundraising problems are obviously a concern, but otherwise, why not?

You are a credit to that school, clearly.

If one is going to pay for a private education, surely there are better options.

Evidence, beyond the fundraising issues?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What are the most important signs of financial health in the 990s? Is net revenue more/less important than net assets?

It's the ratio between revenue and expenses. Essentially, are they taking in more than they're spending? Compare their assets vs their liabilities.

I deferred to my husband on this, since he's an executive who has managed large budgets for a long time. He told me it was obvious Seneca had no money -- their expenses were more than their revenues. Said Barnesville is in good shape, despite low enrollment. Remember that these are non-profits, so you're not looking for them to be dealing with huge surpluses. Instead, look for them to have healthy investments and be bringing in more than they're spending.

You also want to look at whether the school has an endowment and a dedicated development office. Seneca had neither, which is a huge warning sign.

Barnesville is not in good shape financially. They are holding on by a string.

Evidence? Their assets outstrip their liabilities.

[Anonymous]

Looking at expenses vs revenue isn't enough. Look instead at assets vs liabilities.

Barnesville's assets outstrip their liabilities by about $4M.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why would anyone even consider paying money for their kid to attend Seneca?

Why are you such a btch?

It's a sweet, caring community that implements the IB curriculum. The fundraising problems are obviously a concern, but otherwise, why not?

You are a credit to that school, clearly.

If one is going to pay for a private education, surely there are better options.

I don't even have a child at the school. I know people who do, though, and felt it necessary to call you out for being awful.