Since its launch in 2015, the NBOA Long-Range Financial Model for Independent Schools (LRFM) has remained one of the association’s most valuable tools, made available to members to develop, analyze, impact and communicate about their school’s future financial position. In 2025, NBOA reimagined and rebuilt the LRFM to enhance features and functionality and take advantage of the modernized and powerful versions of Microsoft Excel developed since the model’s inception.
Like its predecessor, the new NBOA LRFM V2.0 is a robust, ten-year financial forecasting tool. Newly added features offer the opportunity to model three scenarios within the same workbook and toggle between them to see differences, both numerically and graphically. We’ve expanded the ranges for key inputs to the model, including grade levels, employee groups, and revenue and expense categories to allow for more flexibility than the original model. We’ve also added a powerful cash flow forecasting module, which allows you to model anticipated cash flow for ten years and see the results graphically. The tool now incorporates a robust net assets and reserves modeling tool to allow you forecast transfers between funds for ten years and see visualizations of the trends.
NBOA partnered with Mission & Data to help deliver this tool.
NBOA offers two learning opportunities to support implementation of the NBOA Long-Range Financial Model. Each program has similar goals: to share considerations about the model and scenario planning and to support members in customizing and applying the model to their school. The online course allows participants to work at their own pace over two weeks, while the workshop allows attendees to get started in a single afternoon alongside other participants.
In this asynchronous two-week course, learn how to customize and manipulate NBOA's Long-Range Financial Model, a powerful financial planning tool for your school.
This live, three-hour workshop provides hands-on instruction of the NBOA Long-Range Financial Model, an easy-to-use, customizable 10-year budget model. This program helps you carve out the time to get started with the tool.
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A tool for independent school professionals to assess the inclusivity of operational policies and processes. Thirteen simple checklists allow school leaders to understand where the school is thriving and where they might improve.
