This is the first of what I intend to be a regular letter from me to you, and it feels fitting that it opens a season of clearer, more consistent reporting. The last three years have been a wild ride, full of discovery and wonder, of miraculous provision and mega-transitions. Through all of it, the deepest joy has been watching these students grow in their faith and thrive, the reason any of this work matters. We have wrestled hard to truly understand our expenses, and then to solve the Rubik's Cube of our income, and along the way we undertook a complete overhaul of our chart of accounts.
I have to shout out Garrett, who led through months of weekly calls with our accounting firm, Jitasa, rebuilding a new chart of accounts and class system from the ground up. This dashboard is the fruit of that labor, and it would not exist without his perseverance. I also want to say, personally, how much I have enjoyed working alongside Trisha and Kristine week after week. Watching them lead this school has been genuinely fulfilling and inspiring.
What follows is an honest, complete picture of where we stand and where we are building toward, offered in the same spirit that animates the classroom: clear-eyed about the work, and full of hope. By nearly every measure, this was the strongest year in the school's history: we close in the black for the first time ever, on the back of a banner fundraising year, and we do so well-capitalized and with enrollment stable. On that foundation, we publicly launch “Stewarding the Gift,” our five-year strategic plan. You will also see that next year's budget grows meaningfully, and I want to name that plainly: it is a deliberate, largely one-time investment in our foundation, right-setting salaries, strengthening benefits, building an advancement team, and investing in the website and systems that should finally produce the enrollment funnel we have all been longing for. And that funnel points at a clear destination: we have room for roughly 130 students in this building, and the Women's Center expansion would add another 35 to 45, to about 170. Filling those seats is what carries us to sustainability, because every child we add lowers the cost of educating all of them. The task ahead is not survival but durability, and I believe we are ready for it.
A word on how to use what follows, and on what to expect going forward. This is an interactive packet, not a static report, so please explore it. The tabs read left to right as one story: first this year's results (Programs & Departments through the Balance Sheet), then the strategic arc (Enrollment, Tuition & Aid, Fundraising, Pro Forma, Benchmarks). On the strategy tabs, drag the sliders to test assumptions live, and click any tile or card with a colored top bar to open detail. As you read, please capture your questions right in the dashboard: there is a "Questions" button in the corner and a note box at the bottom of every tab, and when you are ready you can send them all to me with one click. I would love for you to come to the retreat having read prayerfully and jotted whatever rises in you, so our time together can go straight to the conversations that matter. Going forward, my intent is to send you a brief letter each month with the highlights worth your attention, and a fuller letter each quarter tied to a refreshed version of this dashboard, so that the picture stays current and the trends, not just the snapshots, become visible. A few highlights to begin: the surplus this year was carried by philanthropy, and the central task is converting that into a self-sustaining model; it costs about $25,339 to educate each student and net tuition covers roughly 50%, the gap we are closing through enrollment and disciplined pricing; and our five strategic goals are mapped onto the very tabs that carry them. The clearest place to start is the strategic-plan tiles just below, then the decisions teed up at the bottom of this page.
May we steward this gift well, for students who are spiritually rooted, classically formed, and culturally redemptive, for the glory of God and the good of our city.
Grace and peace, Pastor T
“Stewarding the Gift”, the five-year strategic plan launching to our community
GOAL 1
Institutional Identity
Establish DDCA as a distinctive classical Christian school in the Bay Area, with a clear mission, vision, and core values lived across the community.
GOAL 2
Holistic Student Formation
Deliver a rigorous classical liberal-arts education that forms virtuous scholars and servant-leaders, including a strengthened, expanded Logic School.
GOAL 3
Enrollment Growth
Grow enrollment to the level that achieves financial sustainability, through awareness, word-of-mouth, and stronger retention of current families.
GOAL 4
Human Resources
Build and sustain a high-quality, mission-aligned faculty and staff through intentional recruitment, professional development, and a thriving culture.
GOAL 5
Financial Resources
Ensure financial health that supports the mission, long-term planning, and scholarship access, through disciplined budgeting, fundraising, and a sustainable tuition model.
This dashboard maps the plan's financial goals across its tabs: Goal 2 on Programs & Departments, Goal 3 on Enrollment, and Goals 4 & 5 across Tuition & Aid, Fundraising, and Pro Forma.
The through-line across every tab is cost-per-student (~$25,339) and the benchmark we're building toward: 76% coverage through tuition, with donor development as a permanent, deliberately-sized pillar. Hover any chart for exact values.
Change in Net Assets
+$59,048
vs. ($192,460) budget · +$252K swing
Unrestricted Liquidity
$986,547
≈ 4.9 months · +$283K designated
Enrollment
93
stable · 102 board target for 26-27
True Net Tuition
$12,681
covers ~50% of cost · target 76%
Where the money came from and went, year to date · click any card for detail
Revenue YTD
$2,068,999
10 of 12 months · carried by tuition + philanthropy
Program Sales & Fees$1,151,201
Direct Contributions$439,844
Unrestricted Grants$274,577
Special Events (net)$71,544
Expenditures YTD
$2,009,951
Salaries dominate at 70% of spend
Salaries & Related$1,406,107
Contract Services$182,653
Occupancy / Lease$165,166
Program & Other$256,025
Cash & Liquidity
$1,269,046
$987K unrestricted (4.9 mo) · $283K designated
Bank Cash$269,668
Ramp Treasury$301,322
Ramp Managed Portfolio$698,057
+ A/R lever$871,295
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Looking ahead, the 2026-27 operating budget estimate
Built from the Jitasa budget template, with $1,675,800 in planned wages plus benefits, payroll taxes, and the new 3% retirement contribution
2026-27 Total Expense
~$2,657,000
+12.8% vs. 2025-26 · +$300,860 year over year
Salaries & Wages$1,675,800
Benefits & Payroll Taxes~$206,000
Retirement (401k, 3% FT)$42,000
Contractor Services$225,000
Facilities & Occupancy$297,600
Program, Supplies & Other$211,000
Total~$2,657,400
2025-26 revised budget$2,356,560
Year-over-year change+$300,860 (+12.8%)
Cost per Student Falls as Capacity Fills
$26,053
at 102 today · falls to ~$19,000 at full capacity
102 (2026-27)$26,053
132 — building full$20,740
170 — with Women's Center$18,979
How the $2.66M Gets Covered
$533K
still to close, after tuition and budgeted giving
1. Tuition & fees$1,714,200
2. Giving in the budget$410,000
Covered so far$2,124,200
3. Still to close$533,220
Total budget$2,657,420
Reading the gap: the $410K of giving is already inside the revenue plan, so it is not added on top of the $533K. Think of the $2.66M budget as three stacked layers: tuition covers the first $1.71M, budgeted giving covers the next $410K, and the remaining $533K is what we still close, through giving above the $410K (which we out-raised last year) plus enrollment growth over time.
The 12.8% year-over-year increase (over the $2,356,560 revised 2025-26 budget) is driven primarily by compensation and the new retirement benefit; track this growth rate year over year as a core stewardship metric. Subject to board adoption and final Jitasa review.
Why the budget grows this year: we are building the engine, not just covering costs. The 12.8% increase is a deliberate, largely one-time investment in the foundation that produces growth. It does four things at once: right-sets salaries to the SF market so we can attract and keep mission-aligned faculty; strengthens benefits with a new retirement contribution; builds out the advancement team that turns this year's philanthropic momentum into a repeatable engine; and invests in the people and platforms, the redesigned website, the admissions and school-management systems, that finally give us the enrollment funnel we have all been longing for. These are not runaway operating costs; they are the cost of capacity. The return is more students, filling the building toward ~132 and then the Women's Center to ~170, which drives cost-per-student from $26,053 down toward ~$19,000 and the giving need from ~$943K toward ~$194K. That is the arc every tab that follows traces.
This gap is the engine of the development story. Tuition and fees cover ~$1.71M of the ~$2.66M budget, so ~$943K is carried by philanthropy. The budget already names $410K of that, leaving an open fundraising target of ~$533K. The $410K and the $533K are two slices of the same $943K need, not separate asks. Last year the school raised above $410K, and as enrollment fills capacity the total need falls toward ~$194K. The Fundraising tab carries these numbers forward and shows how the gap closes.
What went well
Highlights as the year closes
Surplus, not deficit. Finished +$59K against a budgeted ($192K) loss, a ~$252K favorable swing.
Banner philanthropy. $274,577 unrestricted grant (unbudgeted), $71,544 net from the Gala, and giving at 112% of plan.
Disciplined spend. Expenditures at 85% of annual budget at month 10; salaries held to plan.
Stable enrollment. Held at 93 with a 26-27 pipeline tracking toward the high-90s.
Real commitment to affordability. DDCA forgoes about $564,267 a year (~30.5% of tuition) to widen access, through need-based aid to 21 families plus mission and merit scholarships, an above-median investment in one of the nation's costliest cities.
What to watch
Structural items for the retreat
Surplus is philanthropy-carried. The recurring core still runs a gap; this year's grants + events exceeded the entire surplus.
Tuition covers ~50% of cost, the goal is the NAIS ~76% median. Until enrollment scales and the discount rate steps down, donor development bridges the difference.
Discount rate ~30.5% of tuition, above the NAIS median (~22–26%). All of it is genuine investment in access (need-based aid plus mission and merit scholarships), so the work is keeping that generosity sustainable, not cutting it.
Donor concentration. A single household has historically been ~half of all-time giving, diversification remains a priority.
The Nest runs ~($3.8K)/mo at 8 students; two more enrollments reach cash-flow breakeven.
The year in one picture, revenue vs. expenditures
Monthly · Jul 2025 – Apr 2026 · the Q2 philanthropy surge carried the year
The surplus is philanthropy-carried, not operating-driven. Unrestricted grants ($274,577), special events ($71,544), and contributions running 112% of budget together exceed the entire $59K surplus. Tuition, the recurring engine, is at 94% of budget with two months left. The strategic task is converting episodic revenue into a self-sustaining model through enrollment and recurring giving.
Bottom line. DDCA ends the academic year stronger than it began it, in surplus, well-capitalized, and with enrollment stable. The work ahead is not survival but durability: growing enrollment, pricing and aiding deliberately, and institutionalizing the philanthropy that carried this year, exactly the path the five-year plan now sets. The tabs that follow detail each of these. Spiritually rooted. Classically formed. Culturally redemptive.
Decisions teed up for this meeting
1 · OPERATING BUDGET
Approve the 2026-27 budget
Decision: approve the proposed 2026-27 operating budget of ~$2.66M (+12.8% YoY), a deliberate, largely one-time investment that right-sets salaries, adds the 3% retirement benefit, builds the advancement team, and funds the website and systems behind our enrollment funnel, against tuition of ~$1.71M and a total philanthropy need of ~$943K ($410K budgeted, ~$533K open).
2 · ENROLLMENT
Adopt the enrollment targets
Decision: approve a 2026-27 target of 102 and a five-year path to capacity: filling the building to ~132 first, then the Women's Center expansion to ~170. This is the lever that carries the school to sustainability.
3 · TUITION & AID
Set the discount-rate target
Decision: adopt a five-year glidepath to bring the total discount rate from ~30.5% to ~26%, achieved by growing gross tuition (sticker toward cost) faster than the dollar value of discounts, not by cutting aid.
4 · DONOR DEVELOPMENT
Set giving goals, shrink the gap
Decision: commit to sustaining this year's momentum at a recurring $300–500K/year diversified beyond the lead donor, while reducing the gap as enrollment and net tuition grow.
5 · CAMPUS EXPANSION
Pursue favor with the Archdiocese
Decision: affirm the Women's Center (Treat Ave) expansion as the path to enrollment capacity, and authorize leadership to actively pursue the Archdiocese's favor and right of first refusal, the gating step for everything that follows.
6 · IDENTITY & GROWTH
Covenantal vs. missional, open the conversation
Invitation: open a discussion on how we hold a covenantal identity and a missional posture together, and agree on an approach that grows the school without sacrificing formation or values. Candidly, we are seeking a needle in a haystack: San Francisco has the lowest share of children under 18 of any major US city and few resident Christian families, in a transient metropolis. Our growth model must reckon honestly with that reality.
Pick a month or “All YTD” · click any tile for line detail
Expense categories, click any tile to expand the monthly trail with budget & pace
Close ✕
Monthly Revenue vs. Budget
Jul 2025 – Apr 2026
Monthly Expenditures vs. Budget
Jul 2025 – Apr 2026
Pick a month or “All YTD” · click any source for the monthly trail
Revenue sources, click to expand
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Revenue Composition (YTD)
Share of $2.07M total revenue
Recurring vs. Non-Recurring
Tuition & fees vs. grants, events, one-time gifts
Concentration & durability. Recurring revenue (tuition + recurring fees ≈ $1.21M) covers roughly 60% of expenses. The remaining surplus depends on $346K of grants and events that are not guaranteed to repeat. Donor concentration remains a structural vulnerability, a single household has historically represented nearly half of all-time giving.
Pick a month or “All YTD” · click any category for the monthly trail with budget & pace
Expense categories, click to expand
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Expense Composition (YTD)
By major category
Functional Allocation (YTD)
Program · Admin · Fundraising
Salary-anchored cost base. At 70% of expense, salaries are the dominant constraint behind any hiring decision (Advancement Director. Admissions replacement. Comms Coordinator). Functional split is 59.9% Program / 38.7% Admin / 1.4% Fundraising, the low fundraising share is consistent with a development function still being built out.
Total liquid resources are $1.27M, of which $986,547 (about 4.9 months of operating expense) is unrestricted and available, and $282,500 is designated for campus expansion. The school is in a comfortable cash position.
Unrestricted & Available
$986,547
≈ 4.9 mo · bank + unrestricted Ramp
Designated (Expansion)
$282,500
$157.5K + $125K grants · earmarked
Total Liquid Resources
$1,269,046
≈ 6.3 mo · bank + all Ramp
A/R (additional lever)
$871,295
tuition timing · converts in cycle
Higher than March, but not a restatement. March showed about $700K; the difference is the grant fully landing plus the fully-liquid Ramp investments now shown explicitly. It is a fuller view of the same position.
Liquidity Build-Up
Unrestricted operating cash vs. the $282,500 designated for expansion
Component
Balance
Status
BofA Checking + Savings + PayPal
$87,094
Unrestricted
Ramp Business Checking
$182,573
Unrestricted
Ramp Treasury + Managed Portfolio
$999,379
Liquid
less: designated for campus expansion
($282,500)
earmarked
Unrestricted & Available
$986,547
≈ 4.9 mo
Designated for Campus Expansion
$282,500
$157.5K + $125K
Total Liquid Resources
$1,269,046
≈ 6.3 mo
Cash on Hand Trend
Bank cash · Jan–Apr 2026
Liquidity Composition
Unrestricted vs. designated for expansion
Well-capitalized, with the renovation partly pre-funded. Unrestricted liquidity of ~$986K (≈4.9 months) gives the school real operating cushion, and $282,500 is already earmarked toward campus expansion. The women's center renovation is estimated at $300K–$500K: the designation plus a modest reserve draw covers the lower end, while a higher scope would draw further on reserves or warrant targeted fundraising. A formal reserve-floor policy (e.g., hold 3 months unrestricted) still leaves room to fund the project comfortably.
A markedly stronger balance sheet than a year ago. Total assets reached $2.50M, up 66% year over year, driven by a deliberate move of cash into $999K of liquid Ramp investments (from zero last year) that now earn a return while staying available. Against that sit $1.78M in liabilities, but nearly all of it is $1.32M in deferred revenue, prepaid tuition the school will earn out over the year, not debt. Net assets grew to $717,704. The two figures that look large, the $871K receivable and the $1.32M deferred revenue, are two sides of the same FACTS tuition-timing cycle and signal no distress. In short: more liquid, better capitalized, and positioned to fund the year ahead.
Total Assets
$2,497,452
+66% vs. prior year
Total Liabilities
$1,779,747
99% deferred revenue / current
Total Net Assets
$717,704
unrestricted
Deferred Revenue
$1,322,653
prepaid tuition · earns out over year
Statement of Financial Position. Highlights
As of April 30, 2026
Item
Apr 2026
Prior Year
Assets
Cash & Equivalents (bank)
$269,668
$945,342
Ramp Investments (liquid)
$999,379
$0
Accounts Receivable
$871,295
$57,944
Fixed Assets (net)
$213,506
$331,074
Liabilities & Net Assets
Deferred Revenue
$1,322,653
$383,107
Other Current Liabilities
$457,094
$246,583
Net Assets
$717,704
$658,657
Total Assets
$2,497,452
$1,288,347
Read A/R and deferred revenue together. The large $871K receivable and $1.32M deferred revenue both reflect FACTS tuition-timing mechanics, families billed and prepaid across the year. Neither signals distress; recommend confirming A/R composition with Jitasa before the retreat.
These are true cash net-tuition figures from the P&L (gross tuition less genuine discounts). The breakeven and subsidy model on the Fundraising tab flows from these numbers.
The number that frames everything: it costs ~$25,339 to educate one student. That is DDCA's blended operating cost per student. Net tuition covers $12,681 of it, about 50%, versus the NAIS ~76% median we're building toward. The remaining ~$12,658 per student is the gap that donor development bridges today and that enrollment growth, disciplined pricing, and a lower discount rate narrow over time. Every tile below is measured against this cost-per-student benchmark. Click any tile for detail.
Close ✕
1 · What it costs to deliver this, and the access we extend Strategic Plan Goals 4 & 5
Faculty Compensation in Context
DDCA hires in the SF labor market, not the national classical-school market
Benchmark
Avg Salary
Classical/Christian, national
~$43–52K
Christian school teacher, US avg
~$52K
SF private school, market
~$76–88K
SF public (SFUSD)
~$76K+
National classical norms (~$43–52K) are not DDCA's reality. The school competes against SF schools paying ~$76–88K, which is why salaries are 70% of budget and cost-per-student is high. Competitive faculty pay is a driver of the tuition strategy, not a separate line.
A Genuine Commitment to Affordability
Even while paying SF-market salaries, DDCA holds tuition below the local private-school average and forgoes about $564,267 a year (~30.5% of gross tuition) to widen access, through need-based aid to 21 families plus mission and merit scholarships. That is real revenue the school chooses not to collect, above the NAIS median discount.
Staff tuition is separate and not part of this figure: faculty pay in full and it runs through the balance sheet. The strategy below is built to keep that access sustainable, not to trade it away.
2 · A proposed aid framework, three levers, each with its own logic Strategic Plan Goal 5
DDCA's $564,267 in discounts is genuine investment in access. Organizing it into three levers lets the board govern each with the right rule, rather than managing one blended number.
LEVER 1
Need-Based Aid
$306,385
16.6% of gross · 21 families
Rule: govern as a pool set to a target % of projected gross tuition, so it scales automatically as enrollment grows. The core affordability commitment, awarded on demonstrated need.
LEVER 2
Mission & Merit Scholarships
$257,882
14.0% of gross · programmatic
Rule: govern each named program against a budget and mission rationale (Founding Family, Pastor, Military, Merit, Sibling, Early Payment). Review periodically against capacity, not left open-ended.
LEVER 3
Open-Seat Discount (ramp)
≤35% to 0%
capacity-based · new families
Rule: for classrooms below 15, a declining discount (35% in Year 1, stepping to full by Year 3–4). An empty seat earns $0 at ~$0 marginal cost, so any tuition is pure contribution. The available lever for new 26-27 families.
The Open-Seat Lock-In Problem, and the Ramp Solution
A flat discount persists for the child's whole tenure; a ramp recovers full tuition over time
Year
Flat 35% off
Ramp (35% to 0)
Recovered
Year 1
$14,430
$14,430
—
Year 2
$14,430
$16,650
+$2,220
Year 3
$14,430
$18,870
+$4,440
Year 4
$14,430
$22,200
+$7,770
4-yr total
$57,720
$72,150
+$14,430
The ramp captures the empty-seat family now (when price is the obstacle) but grows them back to full tuition as they're retained, recovering ~$14,400 per child over four years versus a permanent discount, while still beating an empty seat ($0).
Need-Based Aid Scales with Enrollment
Pool at 16.6% of gross tuition · grows automatically as the school grows
The "if-then" rule: if gross tuition reaches $X, the need-based pool is its target % of $X. Aid capacity tracks revenue automatically, so growth serves more families without a separate budgeting cycle.
Solving the 26–27 problem. Need-based aid for 26–27 is committed, but the open-seat discount is a separate, capacity-based lever that is still available. Because it's justified by classroom economics (filling a seat below 15, at ~$0 marginal cost) rather than need, it doesn't draw from the exhausted aid pool. New families can be enticed with a ramp discount now and grown back to full tuition over their tenure, turning empty seats into multi-year contributors without compromising the aid budget or locking in permanent low rates.
3 · The discount rate in context, and where it should head
Discount Rate vs. Benchmarks
DDCA's ~30.5% is a genuine, above-median investment in access
Reference
Discount %
Note
DDCA, need-based aid
16.6%
21 families
DDCA, scholarships
14.0%
mission & merit
= DDCA total
30.5%
$564,267 on $1.85M
NAIS median
~22–26%
sector benchmark
ISM ceiling (no endowment)
<20–25%
sustainability guide
Recommended target
~26%
by Year 5
At ~30.5% DDCA discounts above the NAIS median, a real access commitment that also carries a sustainability tension worth governing deliberately.
Recommended Discount-Rate Glidepath
Step from ~30.5% toward ~26% over five years
A gradual, disciplined reduction protects access while strengthening net tuition. The aim is not to cut aid but to grow gross tuition (sticker toward cost) faster than the dollar value of discounts.
Aid is the dial between access and sustainability. DDCA forgoes about $564,267 a year (~30.5% of gross tuition) to make a classical Christian education attainable. That is a real, above-median commitment, and it sits above ISM's sustainability guidance for a school without an endowment. So the recommended path is a gradual glidepath toward ~26% achieved by growing tuition and enrollment faster than the discount, not by cutting families off. Setting that target is a concrete retreat decision.
4 · How net tuition is actually built
True Net Tuition Waterfall (YTD Jul–Apr)
Gross tuition less genuine discounts (need-based aid + scholarships)
Gross Academy Tuition$1,522,387
Gross Preschool (Nest) Tuition$118,626
Less: Need-Based Aid($250,679)
Less: Mission & Merit Scholarships($210,994)
Net Tuition (blended pool)$1,179,340
Net Tuition by Segment
Academy · Nest · blended, per student on a true cash basis
Segment
Net Tuition
Students
Per Student
Academy
$1,060,714
85
$12,479
Nest (Preschool)
$118,626
8
$14,828
Blended
$1,179,340
93
$12,681
Of the ~$25,339 it costs to educate a student, net tuition covers 50% blended (48% Academy, 64% Nest) against the NAIS ~76% benchmark. Closing the rest is a portfolio of modest tuition increases, enrollment growth, a lower discount rate, and donor development.
5 · Breakeven economics, how many students the model needs
At today's net tuition, each program needs more students to cover its own cost. Growing enrollment spreads fixed cost, lowers cost-per-student, and pulls the breakeven count down. The Fundraising and Pro Forma tabs model the full pathway.
Segment
Current
Net Tuition / Student
Cost / Student
Covered
Tuition-Only Breakeven
Whole School (Academy + Nest)
93
$12,681
$25,339
50%
~186 students
The Academy (K–8)
85
$12,479
$23,816
52%
~162 students
The Nest (Preschool)
8
$14,828
$21,450
69%
~10–11 students
Whole-School Contribution by Enrollment
Annual net contribution · $12,681 net tuition/student vs. $2.196M operating cost
The Nest, Monthly Contribution by Enrollment
~$1,300 net tuition/student/mo vs. ~$14.3K fixed monthly cost
Two levers, one destination. Cost-per-student falls as enrollment rises: the 2026-27 budget across 102 students is $26,053 each; filling the building (~132) brings it to ~$20,700, and the Women's Center expansion (~170) to ~$19,000. So enrollment growth is simultaneously a revenue lever and a cost lever. The Academy is the core engine and the main gap; The Nest is two enrollments from cash-flow breakeven and turns positive at its 14-student capacity. Closing the gap is as much about filling capacity as about price, which is what the Fundraising and Pro Forma tabs quantify next.
Strategic Plan, Goal 5 (Financial Resources). Philanthropy is part of the model, not a fallback. Like nearly every mission-driven independent school, DDCA is not designed to run on tuition alone; charitable support is a permanent pillar of the operating model. So the goal over the next five years is not to eliminate the gap. It is twofold: (1) grow awareness and giving, building a durable, diversified donor base, and (2) shrink the dollars required for net-positive cash flow by growing enrollment, pricing deliberately, and managing the discount rate. This tab moves from where enrollment stands to how the required subsidy falls to the donor development that funds what remains. All figures build on the cost-per-student ($25,339) and net tuition ($12,681) from the Tuition & Aid tab.
1 · Where enrollment stands and the subsidy each student needs
Current Enrolled
93
FY 2025–26 · stable
Board Target (26-27)
102
building YoY beyond
Current Estimate (26-27)
99
3 below board target
Subsidy per Student
$12,658
cost $25,339 − net tuition $12,681
The goal isn't zero subsidy, it's a smaller, well-funded one. At 93 students, each child costs ~$25,339 to educate and net tuition covers $12,681, leaving a ~$12,658 per-student subsidy (~$1.02M total) that donor support funds. As enrollment grows toward 102 and beyond, fixed cost spreads across more students and cost-per-student falls; as the discount rate steps down, net tuition rises. Both shrink the per-student subsidy. The five-year aim is to bring that required subsidy down and grow giving to fund it comfortably, not to reach tuition self-sufficiency, which no comparable mission school does.
2 · Model the path, drag assumptions, breakeven recomputes live
Adjust the assumptions to model the path to breakeven without fundraising.
Starting operating budget (2026-27 plan)
$2.2M$3.0M
Net tuition per student (Current, true cash basis)
$11.0K (true)$20.0K
Operating expense growth (annual)
0%8%
Tuition growth (annual)
0%10%
Subsidy Horizon
Tuition-only breakeven shown as a horizon marker · 93 today to 102 target
Breakeven Horizon Table
Operating budget · net tuition/student · tuition-only breakeven (reference)
3 · What we’re actually raising, and why
Here is the number in plain terms. The 2026-27 budget is $2.66M. Tuition and fees cover $1.71M of that; the rest, about $943K, is what philanthropy carries. The budget already names $410K of it, so the open fundraising target is ~$533K. The $410K and the $533K are two slices of the same $943K giving need, not separate asks on top of a funded budget.
The one move that closes this: fill the building, then expand. The open gap does not close mainly through price. It closes as enrollment fills capacity. Our building holds roughly 125–135 students; the Women's Center expansion adds another 35–45, to about 170. As those seats fill, cost-per-student falls from $26,053 today toward ~$19,000, tuition's share of the budget climbs from 65% to the 90s, and the philanthropy need drops from $943K toward ~$194K. Reaching capacity is what makes the school self-sustaining; giving bridges the years in between.
Total Giving Need (26-27)
~$943K
budget minus tuition & fees
Already in the Budget
$410K
the named giving line
Open Fundraising Target
~$533K
the $943K need, less the $410K named
At Full Capacity (~170)
~$194K
giving need once seats fill · 2030-31
The giving need shrinks as capacity fills
Each bar is the full $2.66M+ budget: tuition (navy) + budgeted $410K (green) + open gap (gold)
Total giving need by enrollment tier
Same $410K budgeted each year; the open gap is what changes
Diversifying beyond the lead donor (39% of a typical year's giving, and an even larger share of all-time giving) is the central development priority while the gap is largest.
How to read the two gap numbers. Tuition covers $1.71M of the $2.66M budget, leaving ~$943K that philanthropy must carry. Of that, $410K is already budgeted as the giving line, so the open target this tab owns is ~$533K. These are not stacked on a balanced budget; they are the two pieces of one $943K giving need. Last year the school raised above $410K, so the open piece is already partly in reach, and it keeps shrinking as enrollment climbs toward capacity. Asking donors to carry the entire need every year would be neither realistic nor healthy; growth is what retires the gap.
Where the giving comes from, and the concentration risk
Historically the school has raised about $640K a year across five sources, comfortably above the $410K budgeted line. But 39% of it comes from a single recurring donor. That concentration is the central development risk, and diversifying it is the advancement team's first mandate.
Historical Giving by Source
A typical year, ~$640K total · the share each source carries
Illustrative of a representative year. The $410K budgeted giving line is deliberately set below this historical total; the difference is conservatism, and room to cover the open gap.
Concentration at a Glance
The lead donor is 39% of all giving · the rest is spread across four sources
Why concentration is the risk to manage. A single recurring donor providing $250K of ~$640K (39%) means a meaningful share of the school's philanthropy rests on one household's continued generosity. The other ~$390K is healthily spread, churches ($40K), a family foundation ($150K), the Gala ($100K), and community giving ($100K), but the lead gift is structural. The advancement build is aimed squarely here: grow the annual fund and community base so that no single source is load-bearing, and the school's giving is durable whether or not any one donor renews in a given year.
A reinforced advancement engine, just as it's needed. This year's result, the strongest yet, is the launchpad, not the ceiling. The capabilities being stood up, a restructured advancement team, a redesigned website, dedicated communications & marketing, and SEO/SEM and paid search, are precisely what next year's budget increase funds (see the 2026-27 budget on Year in Review). They exist to do two things: sustain giving through the bridge years, and drive the enrollment that fills capacity and retires the gap. This is the build paying for itself. Setting the annual-fund goal and confirming the marketing investment are retreat decisions.
The 2026-27 budget and the ~$533K gap originate on Year in Review; the admissions pipeline lives on Enrollment; the multi-year net-tuition path is on Pro Forma.
Strategic Plan, Goal 3 (Enrollment Growth). The enrollment funnel that drives everything else, and it points at a finite, reachable ceiling. The building holds ~125–135; the Women's Center expansion adds ~35–45, to about 170. The new website, advancement team, and paid search/SEO investment exist to fill that capacity, the single move that carries the school to sustainability.
Current Enrolled
93
FY 2025–26 · stable
Board Target (26-27)
102
first step of the ramp
Building Capacity
~132
existing campus · fills first
With Women's Center
~170
expanded capacity · the destination
Grade-Level Funnel
Currently enrolled (25-26) · inquiries · tours · apps received · offers · enrolled (26-27 to date)
Pipeline reflects the March 2026 recruitment update. Last year, 14 additional students applied/enrolled after the March snapshot, actual 26-27 enrollment is expected to finish above the in-pipeline figure.
Enrollment by Grade
25-26 current vs. 26-27 enrolled to date
Admissions Funnel (26-27)
Inquiry → tour → app → offer → enrolled
Enrollment is the most powerful lever, and the return on this year's investment. Each additional student adds tuition and lowers cost-per-student by spreading fixed costs, moving two benchmarks at once. The path is concrete: fill the building to ~132, then the Women's Center to ~170. Over that climb, cost-per-student falls from $26,053 to ~$19,000 and tuition's share of the budget rises from 65% to 94%. The website, school-management systems, and advancement team funded this year exist to fill those seats, the single biggest driver of the school's path to sustainability.
Strategic Plan, Goal 5 (long-term planning). Where we are to where we're building. Today tuition covers 65% of cost at 102 students. This plan reaches the mid-90s within five years, primarily by filling capacity: the building to ~132, then the Women's Center expansion to ~170.
The destination isn't a price, it's a capacity. At 102 students it costs $26,053 to educate each child and tuition covers 65%. We don't close that mainly by charging more, we close it by filling seats. Fill the building (~132) and cost-per-student falls to ~$20,700, coverage to 83%. Add the Women's Center (~170) and it reaches ~$19,000 and 94%. The charts and sliders below show the path; donor development bridges the years until capacity does the rest.
A cost-anchored way to set tuition, and where capacity takes us
Anchor net tuition to a target share of our own cost-per-student, measured at the enrollment we are building toward, not today's. The building holds ~125–135 and the Women's Center expansion adds ~35–45 (to ~170). As seats fill, cost-per-student falls toward ~$19,000, and a sustainable net tuition finally sits close to cost.
Cost per Student Falls as Capacity Fills
Same ~$2.7–3.2M budget spread over more students · two capacity tiers
Enrollment
Cost / Student
Tuition Coverage
Giving Need
102 (2026-27)
$26,053
65%
$943K
132 — building full
$20,740
83%
$452K
170 — with Women's Center
$18,979
94%
$194K
Tuition coverage = tuition & fee revenue ÷ operating budget. The expansion year carries a one-time step-up (lease + staffing) that briefly widens the gap before the new seats fill, the honest cost of growth.
Why capacity is the real pricing lever
Pricing to today's cost-per-student ($26,053) would price families out and suppress the very growth that lowers cost. Instead we anchor to the cost at the enrollment we are building toward.
Filling the building (~132) does most of the work, pulling cost-per-student to ~$20,700 and tuition coverage to 83%. The Women's Center expansion finishes the journey: at ~170 students, cost-per-student reaches ~$19,000 and tuition covers 94%, leaving a philanthropy need the school comfortably raises today. The market stays the ceiling; capacity is what brings cost down to meet it.
Recommendation, for discussion. Hold sticker increases moderate and let capacity do the heavy lifting. Growth from 102 to ~170 over five years, building first then the Women's Center, takes tuition coverage from 65% to the mid-90s and shrinks the annual giving need from ~$943K to ~$194K. This is a direction and a discipline: keep pricing honest and bounded by what SF families can bear, and reach sustainability primarily by filling seats, not raising price.
Cost per Student vs. Net Tuition
The gap between the two narrows as capacity fills
Tuition Coverage Climbs to the 90s
Share of operating cost covered by net tuition · remainder = donor development
The Shrinking Giving Need
As enrollment fills capacity, the annual philanthropy need falls toward what the school already raises
Giving need = operating budget − net tuition revenue. It narrows sharply as seats fill; the recommended discount glidepath (green line) accelerates it further. At full capacity the need approaches what DDCA already raises in a normal year.
Adjust the levers, drag to test how fast DDCA reaches the target
Salary & benefit growth (annual)
0%6%
Non-salary cost growth (annual)
0%6%
Annual tuition increase (sticker)
0%10%
Enrollment by Year 5 (capacity: building ~132, expanded ~170)
Enrollment fills the building, then the Women's Center · cost-per-student falls · coverage climbs
Reaching the target is mostly about capacity, not price. Lifting tuition coverage into the 90s comes primarily from filling seats, building to ~132 then the Women's Center to ~170, which drives cost-per-student from $26,053 down to ~$19,000. Modest sticker increases and a discount glidepath from ~30.5% to ~26% help at the margin, but enrollment is the lever that does the heavy lifting. Even near full capacity, donor development still funds a slice, by design. The sliders show how the building and expanded ceilings change the picture.
External benchmarks from NAIS, ISM, SAIS/TADS, and published SF-market tuition. DDCA sits in the faith-based “price” tier, below the SF independent-school median, with a discount rate near the upper guidance band.
DDCA's sticker is below the SF elementary average and roughly half the local elite independent rate, consistent with a mission-driven, faith-based market position. Headroom exists for above-inflation increases without breaching the local median.
Tuition Positioning (SF Market)
Gross sticker vs. local comparables
Discount Rate vs. Guidance
DDCA ~30.5% against ISM / NAIS reference bands
Key sector benchmarks & what they imply for DDCA
NAIS
Net tuition covers ~76% of cost (median)
76%
$23,515 net vs. $30,893 cost/student
DDCA covers ~50% on true net tuition, below median, so a larger philanthropy bridge is structurally expected until enrollment scales.
ISM
Discount-rate caution thresholds
10% / 20%
price-tier 10% · product-tier 20% of gross
ISM warns faith-based “price” schools to keep discounting under ~10% of gross without an endowment. DDCA's ~30.5% is well above, a real access commitment that is also a central reason to set an explicit, sustainable discount-rate target.
ISM
30% of enrollment discounted = risk line
>30%
devalues tuition to full-pay families
When more than ~30% of students are discounted, ISM flags erosion of perceived value. Worth confirming DDCA's share of aided students against this line.
TREND
NAIS tuition CAGR 2004–2024
~3.8%
$14,622 to $31,088 over 20 yrs
Long-run sector tuition growth (~3.8%/yr) exceeds general inflation. A 3–5% annual increase at DDCA is squarely in line with sector norms; recent-year increases sector-wide have run 6–8%.
What the benchmarks say for DDCA. The school is under-priced relative to its SF market (room to raise), but over-discounted relative to ISM guidance for its tier (the discount rate is the bigger lever). Net-tuition coverage of ~50% is below the NAIS ~76% median, which is why philanthropy carries more weight here than at a typical independent school, and why institutionalizing the annual fund and managing the discount rate are the two highest-leverage board decisions.
Sources: NAIS Data & Analysis for School Leadership (DASL) 2024-25 / 2025-26 State of the Independent School Sector; ISM (Independent School Management) Stability Markers & tuition-tier guidance; SAIS/TADS “Maximizing Net Tuition Revenue” (NAIS 2022-23 Facts at a Glance); PrivateSchoolReview & Niche SF tuition listings; SF Day School. San Francisco Christian School published rates. Figures are most-recent available; medians are national unless noted.
Strategic Plan, Goal 2 (Holistic Student Formation). What it costs to run each part of the school, from the by-class P&L (year to date, July through April). These divisions, from Early Childhood through a strengthening Logic School, are where the classical program is delivered.
Where the roughly $2.0M goes. The budget breaks into three buckets. Programs ($1.20M) covers the academic divisions and student experience. Administrative ($778K) covers leadership, operations, facilities and the shared backbone. Fundraising ($28K direct) is a lean development function that returned $776K in giving. The academic divisions below show the cost of delivering the classical program K through 8 plus The Nest. Because tuition is recognized centrally rather than allocated to grades, each division is shown on a cost to operate basis. Click any tile for detail.
Total Programs
$1,203,666
60% of expense · academic + student life
Administrative
$778,459
39% · leadership, ops, facilities
Fundraising (direct)
$27,826
1% · returned $776K in giving
Total Expenditures
$2,009,951
YTD · 85% of annual budget
Academic & student divisions, cost to operate · click any tile
Close ✕
Cost to Operate by Division
YTD expense · academic divisions, student life, support
Expense by Function
Programs · Administrative · Fundraising
The capacity opportunity. At 15 students per class, the academic divisions hold 150 Academy seats (10 classes) plus 14 in The Nest. Filled at the current $22,200 sticker, that represents roughly $3.5M in gross tuition, against today's enrollment of about 93. The Grammar School (grades 2 through 5) and Logic School (grades 6 through 8) are the core academic load, while Early Childhood (TK, K and 1st) carries higher per student staffing. Because tuition is pooled centrally, each division's expense is its cost to deliver rather than a profit or loss. The revenue goals on each tile show what full classrooms would generate, the clearest picture of the enrollment upside.
DONUM DEI CLASSICAL ACADEMY · External benchmarks NAIS/ISM/SAIS · Figures unaudited · For Board use
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