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Board Overview
Q4 FY26 · Apr–Jun 2026 · August 20, 2026 Board Meeting
Executive Summary
MISBO closed FY26 with 400 member schools and 27 associate member schools — a combined community of 427. Net membership grew by 4 schools over FY25, with retention at 93.98%. Professional development engagement grew strongly with 1,873 total attendees across 105 events. Listserv participation reached 310 schools and 1,234 subscribers. The retirement plan has grown to an estimated 64 adopter organizations with approximately $1.02B in total assets under management and an estimated 8,500 participants with balances — reflecting extraordinary growth from $99M in 2022. Note: 2025 and current figures are estimates; the 2025 plan year audit is in progress. FY26 revenue is estimated at $2.28M — $124K above budget — driven by strong conference performance ($518K vs. $423K budgeted). Net operating income is estimated at $73K, a $90K favorable swing vs. the budgeted loss of $17K. FY27 budget is set at $2.36M including a $75K strategic PARFAIT draw. Consortium data coming soon.
Membership
400
member schools · 27 associate
▲ +4 vs. FY25 · 7-yr avg 361
Finances
$2.28M
FY26 total revenue est.
+$124K vs. budget · Net op. $73K
Consortium
$18.5M+
FY26 volume est. · 82% member use
Q4 +2% vs. prior yr · DER $1.15M saved
Prof. Dev
1,873
FY26 total attendees
▲ vs. 1,404 FY25 · 5-yr avg 1,720
Retirement
$1.02B
Total AUM est. · 64 orgs
▲ vs. $513M 2025 est.
7-Year Membership Trend (FY20–FY26)
Member schools7-yr avg (361)
PD Attendance by Type — FY22–FY26
In-PersonWebinarRoundtableConsortium
Click any tile above to navigate · Dashed lines = multi-year average benchmark
Membership FY27 IN PROGRESS
FY20–FY26 actuals · FY27 partial year shown separately
Member Schools (FY26)
400
+ 27 associate member schools
427 total community
FY25: 382
7-yr avg: 361
New Members (FY26)
27
Joined in FY26
FY25: 18
7-yr avg: 25
Renewals (FY26)
378
Renewed in FY26
FY25: 388
7-yr avg: 362
Dropped (FY26)
23
Left in FY26
FY25: 26
7-yr avg: 17
Retention Rate (FY26)
93.98%
FY26 year-end
FY25: 93.35%
7-yr avg: 95.0%
Members FY27 (partial)
399
Year in progress — not final
FY26: 400
7-Year Membership Trend (FY20–FY26)
Member schools7-yr avg (361)
New Members · Renewals · Dropped by Year
RenewalsNewDropped
Retention Rate — 7-Year Trend
Retention %7-yr avg (95.0%)
Finances
Revenue, expenses, and budget performance · FY23–FY25 actuals · FY26 year-end estimate · FY27 budget · ⚠ FY26 figures are estimates as of Aug 20, 2026
FY26 Revenue (Estimated)
Total Operating Revenue
$2.28M est.
vs. $2.16M budgeted
+$124K vs. budget
FY25: $2.13M
Membership Dues
$790K est.
34% of revenue
Budget: $785K
FY25: $757K
Consortium Revenue
$652K est.
26% of revenue
Budget: $619K
FY25: $661K
Conference Revenue
$518K est.
23% of revenue
Budget: $423K
FY25: $351K
Other Revenue Programs
$322K est.
13% of revenue
Budget: $270K
FY25: $360K
FY26 Expenses & Net (Estimated)
Total Operating Expenses
$2.21M est.
vs. $2.17M budgeted
+$35K over budget
FY25: $1.83M
Salaries & Benefits
$1.43M est.
65% of expenses
Budget: $1.46M
FY25: $1.23M
Net Operating Income
$73K est.
vs. -$17K budgeted
+$90K vs. budget
FY25: $296K
Net Income (w/ investments)
$481K est.
Including unrealized gains
FY25: $482K
FY24: $376K
FY27 Budget (Revenue)
$2.36M
Approved budget
+$76K vs. FY26 est.
Incl. $75K PARFAIT draw
Total Revenue by Stream — FY23–FY27 Budget
Dues Consortium Conference Other PARFAIT
FY26 Budget vs. Actual (Est.) — Revenue
Actual est. Budget
Net Operating Income Trend — FY23–FY26 est.
Net Operating Income 4-yr avg ($173K)
FY26 Expense Breakdown (Est.)
Salaries 65% Conference 16% Office 9% ISGRP 5% Other 5%
Purchasing Consortium
Volume, DER program, and partner activity · Q4 FY26 data · ⚠ Full-year volume figures are estimates pending final Q4 reporting
Volume & Revenue (FY26)
Participating Schools
—
Data pending
Total Volume YTD (est.)
$18.5M+
Through Q3 + Q4 in progress
Q4 alone: $7.57M
Q4 up +2% vs. prior yr
MISBO Fees YTD (est.)
$447K+
Q3 est. $305K + Q4 $142K
Q4 alone: $142,372
Q4 up +3.5% vs. prior yr
DER School Spend (FY26)
$2.05M
Digital Educational Resources
DER savings: $1.15M
56% savings ratio
DER Fee Revenue (FY26)
$96,415
vs. $90,000 budgeted
+$6,415 vs. budget
11 new schools in DER
DER Portal Activity (as of Aug 13, 2026 — FY27 Q1)
Total Carts Open
236
As of Aug 13, 2026
FY26 same point: 201
+17% year-over-year
Carts Invoiced
213
90% invoiced rate
Sales in Carts
$2.34M
As of Aug 13, 2026
FY26 same point: $2.15M
+8.8% year-over-year
Welcome Packets (CY26)
305
Sent calendar year 2026
New Member Consortium Use
82%
Of new members since May 2022
75% adopt by Q2
DER Program — Spend vs. Savings (FY26)
School Spend School Savings MISBO Fee Revenue
Q4 FY26 Volume vs. MISBO Fees
Volume Sales MISBO Fees Prior year comparison
DER Cart Sales — FY27 Q1 vs. Prior Years (as of Aug 13)
Sales in carts at same point in year
Compensation Studies — Revenue & Value (FY22–FY26)
Revenue to MISBO Value to Schools
Professional Development & Listservs FY27 IN PROGRESS
Events, attendance by type, listserv schools and subscribers · FY22–FY26 actuals
Schools on Listservs (FY26)
310
Participating schools
FY25: 286
5-yr avg: 280
Total Subscribers (FY26)
1,234
FY26 · 1,248 current est.
FY25: 1,136
5-yr avg: 1,009
Total Events (FY26)
105
All event types
FY25: 81
5-yr avg: 89
Total Attendees (FY26)
1,873
Across all events
FY25: 1,404
5-yr avg: 1,720
Avg. Attendance/Event
17.8
FY26
FY25: 17.3
5-yr avg: 19.5
Attendance by Event Type — FY22–FY26
In-PersonWebinarRoundtableConsortiumMEP Info
Listserv Post Volume — Monthly FY26
Monthly PostsFY26 avg (162)
Schools & Subscribers on Listservs — FY22–FY26
Schools (bars, left axis) Subscribers (line, right axis)
Total Events by Year — FY22–FY26
Total Events5-yr avg (89)
Retirement Plan (MEP)
The Independent School Group Retirement Plan · Sponsored by MISBO · ⚠ Current and 2025 figures are estimates — 2025 plan year audit in progress
403(b) Multiple Employer Plan · Sponsored by MISBO
Primary Recordkeeper: Transamerica · Additional: TIAA & others
Primary Recordkeeper: Transamerica · Additional: TIAA & others
Adopter Organizations
64 est.
Current / in transition
2025 est.: 47
2024 actual: 33
Participants w/ Balances
8,500 est.
Current estimate
2025 est.: 6,500
2024 actual: 4,649
Assets (Transamerica)
$648M est.
Current estimate
2025 est.: $291M
2024 actual: $224M
Assets (TIAA + Other)
$371M est.
Total minus Transamerica
2025 est.: $222M
2024 actual: $171M
Total AUM
$1.02B est.
Current estimate · all recordkeepers
2025 est.: $513M
2024 actual: $395M
Total AUM — 5-Year Trend
Total AUM4-yr avg ($858M)
Assets by Recordkeeper
Transamerica $648M (64%) est.TIAA + Other $371M (36%) est.
Avg. assets / org (est.)
$15.9M
2024 actual: $11.9M (33 orgs)
Avg. assets / participant (est.)
$120K
2024 actual: $85K (4,649 participants)
Adopter Schools & Participants — 5-Year Growth
Adopter Schools (bars, left)Participants ÷100 (line, right)
Plan of Work — 2026–2027
Five priority areas in prioritized order · Click a theme to expand · Click any priority to see progress notes
1. Member Value & Support
Expand practical resources, operational support, professional learning, and member connections that help schools navigate complexity and change.
Expand ▾
2025–26 Recap
MISBO significantly expanded member value through compensation studies, AI and finance programming, new HR and CFO retreats, expanded credentialing (SHRM, HRCI), a CFO hiring guide, and a transition-planning resource co-developed with PAISBOA. Member Journey Mapping began at Vista Cova.
Builds on significant 2025-2026 work in compensation studies, operational resources, retreats, AI learning, Finance 101, credentialing, and leadership transition resources.
2026–27 Priorities
🟢 Active Expand professional learning and thought leadership by developing practical resources, operational leadership retreats, research, benchmarking, and targeted programming focused on AI, finance, HR, operations, enrollment, and workforce trends.
🟡 Emerging Strengthen member engagement throughout the membership lifecycle by enhancing the member journey from onboarding through long-term involvement, leadership opportunities, and career-stage appropriate professional learning.
🔄 Ongoing Foster collaboration and community by creating more intentional opportunities for members to connect, share best practices, benchmark with peers, and learn from one another across operational disciplines.
🟡 Emerging Measure and enhance member value by implementing strategies to assess member satisfaction, engagement, program effectiveness, resource utilization, and the overall impact MISBO delivers.
🔄 Ongoing Continuously evaluate and improve MISBO's programs and services by regularly reviewing offerings, identifying opportunities for innovation, consolidation, and stronger alignment with member needs.
2. Strategic Growth & Membership Development
Pursue intentional and sustainable membership growth by identifying where MISBO is uniquely positioned to provide value and focusing resources on the highest-potential opportunities.
Expand ▾
2025–26 Recap
This year surfaced key strategic questions around intentional growth and geographic expansion. Growth opportunities identified in Memphis, Texas, Maryland, and other states. Conversations began around how members and the board can support outreach — implementation remains early stage.
The 2025-2026 review identified the need for greater clarity around intentional growth, ideal member profiles, target markets, and the role of Board and member relationships in outreach and retention.
2026–27 Priorities
🟢 Active Develop a clearer framework for intentional membership growth, including target school profiles, geographic priorities, operational constituencies, and measurable objectives.
🟢 Active Identify and prioritize a small number of high-potential geographic growth opportunities for targeted membership outreach rather than pursuing broad expansion.
🟡 Emerging Establish measurable goals for membership growth, retention, and engagement within identified target markets.
🟡 Emerging Explore practical and manageable ways current members and board members can support membership outreach, advocacy, relationship cultivation, and retention.
🟡 Emerging Develop focused outreach messaging, tools, and engagement strategies aligned with identified growth priorities.
🟡 Emerging Better understand why schools join, remain members, disengage, or decline membership and use that information to inform future growth and retention strategies.
3. Innovation & Learning Platforms
Build scalable digital learning, communication, and resource platforms that strengthen member access, engagement, and operational effectiveness.
Expand ▾
2025–26 Recap
MISBO launched the LMS as its primary credentialing and certificate-delivery platform, fully built an AI course now in beta, expanded Tizra integration with the purchasing consortium, and continued refining newsletter and communications timing.
Reflects the substantial progress already made with the LMS, credentialing, Tizra integration, and AI course development.
2026–27 Priorities
🟢 Active Continue expanding Tizra as a centralized operational resource hub with curated collections and member-generated content.
🟢 Active Continue developing asynchronous learning, credentialing, governance, and AI-focused programming within the LMS.
🔄 Ongoing Expand the use of technology to provide members with easier access to MISBO's resources, expertise, research, and professional learning.
🟡 Emerging Evaluate long-term integration, alignment, and user experience across the LMS, Tizra, listservs, database, and related member communication platforms.
🔄 Ongoing Focus on increasing adoption and effective use of existing technology platforms before adding significant new systems or initiatives.
⏸ Deferred Continue refining MISBO's communication and content delivery strategies while recognizing that broader communications strategy work may be deferred until organizational capacity better supports it.
4. Organizational Capability & Internal Alignment
Strengthen internal collaboration, operational resilience, organizational alignment, and staff capacity to support effective execution of MISBO's strategic priorities.
Expand ▾
2025–26 Recap
MISBO expanded cross-training, deepened Asana adoption across the organization, embedded strategic priorities into staff workflows, successfully onboarded three new employees, and invested intentionally in workplace culture and communication.
Continues the 2025-2026 progress in cross-training, Asana use, strategic alignment, project ownership, and onboarding.
2026–27 Priorities
🔄 Ongoing Strengthen organizational effectiveness and sustainability through cross-training, operational continuity planning, role clarity, onboarding, and the intentional distribution of institutional knowledge.
🟢 Active Enhance organizational execution and accountability by deepening the use of Asana, clarifying project ownership, defining measurable outcomes, and implementing strategic dashboards and reporting aligned with Board priorities.
🔄 Ongoing Prioritize organizational capacity and strategic focus by evaluating staff capacity before launching new initiatives and regularly reviewing programs and processes to streamline, consolidate, defer, or discontinue work as needed.
🔄 Ongoing Foster a strong organizational culture by promoting collaboration, open communication, shared values, accountability, workplace satisfaction, and a continued focus on member impact.
🔄 Ongoing Continuously improve operational systems and decision-making by aligning resources, processes, and organizational priorities to maximize effectiveness, efficiency, and long-term sustainability.
5. Leadership & Governance Evolution
Strengthen board capacity, leadership continuity, and strategic governance systems that support MISBO's long-term evolution and impact.
Expand ▾
2025–26 Recap
MISBO completed succession and transition planning, executed its strategic plan and rebrand, expanded board diversity across geography and school size, and produced an initial dynamic board dashboard prototype now moving toward live-data implementation.
These continue the governance initiatives already identified for 2026-2027, including board cultivation, institutional knowledge, and dashboard implementation.
2026–27 Priorities
🔄 Ongoing Continue strengthening board diversity across geography, school size, professional expertise, and lived experience.
🟡 Emerging Develop a more intentional board recruitment and cultivation framework aligned with identified board needs and future leadership priorities, potentially through an EIS subgroup.
🔄 Ongoing Continue institutionalizing specialized services, processes, and organizational knowledge while expanding staff cross-training to support continuity and scalability.
🟢 Active Complete implementation of the live-data board dashboard and establish a regular reporting cadence tied to board meetings.
🟡 Emerging Refine a focused set of organizational success measures that allow the Board to evaluate progress against the Plan of Work and MISBO's broader strategic priorities.
Status Key
🟢 Active Specific push underway — clear momentum right now
🔄 Ongoing Continuous work woven into regular MISBO operations
🟡 Emerging Early stage — groundwork being laid, not yet operational
⏸ Deferred Intentionally paused due to capacity or timing