Top 50 ranked: Inside Queensland’s richest private schools

The state’s richest private schools raked in more than half a billion dollars in income during the Covid pandemic thanks to sky-high tuition fees and hefty donations, while still receiving government JobKeeper handouts. INTERACTIVE

Queensland’s richest private schools raked in more than half a billion dollars in income during the Covid pandemic thanks to sky-high tuition fees and hefty donations, while still receiving government JobKeeper handouts.

A Courier-Mail analysis of newly released 2020 financial data shows that the state’s richest school, Brisbane Grammar School, recorded a recurrent net income of more than $58m, including more than $46m from fees and an equivalent of $33,055 per student.

Other top earners included King’s Christian College with $52.9 million – though the latter has twice the students of BGS – St Peters Lutheran College ($51.7m) and Anglican Church Grammar School ($50m).

The majority of private schools earned their income directly from parents, with St Peters recording more than $40m in fees, followed by Churchie ($39m), and Brisbane Girls Grammar School ($35m).

Private sources – such as donations – were also a constant revenue stream for the state’s most prestigious schools, with BGGS recording a whopping $4.8m, along with All Saints Anglican School ($4.3m), St Joseph’s Nudgee College ($3.1m) and Brisbane Boys’ College ($2.5m) among the top earners.

The schools with the highest income per student were BGS ($33,055), St Hilda’s School ($30,083), Stuartholme School ($29,333) and BGGS ($28,473).

Independent Schools Queensland chief executive Chris Mountford told The Courier-Mail families who choose to send their children to a private school, rather than to a fully-funded place at a state school, save taxpayers more than $1.02 billion each year.

“Importantly, independent schools are not-for-profit institutions, which means all funds go towards supporting the education of students,” he said.

“Independent schools are continually investing parent capital contributions received over many years, in new infrastructure and building maintenance.

“This can only be achieved through having a surplus of income over expenditure.”

At least 22 Queensland schools pocketed at least $63m in JobKeeper during 2020, including BGS, St Hilda’s School, A B Paterson College and The Rockhampton Grammar School.

Brisbane Girls Grammar School raked in $28,473 per student. Picture: David Clark

Mr Mountford said schools were required to meet the government eligibility requirements to receive the payment program.

“The purpose of the JobKeeper program was to keep as many Queenslanders employed as possible during the pandemic,” he said.

“A critical community by-product of JobKeeper was ensuring the teaching workforce could maintain student learning during a period of significant anxiety and upheaval.”

Further analysis of 2021 annual reports of eight of the state’s grammar schools revealed the elite schools had amassed more than $120m in cash and cash equivalents and together raked in close to $180m in fees.

St Joseph's Nudgee College raked in $3.1m from private sources, including donations. Picture: Glenn Hunt / The Australian

It comes after a study based off official figures presented to Senate Estimates in the federal budget claimed Queensland private schools would receive a $665m windfall from 2022-2029.

The education research report Save Our Schools claimed Queensland’s Catholic Education system was set to receive $384m while a further $271m would go to Independent Schools Queensland system.

Mr Mountford said the changes to the Australian Government funding arrangements would have an ongoing affect on the state’s private schools and would affect each individual school differently.

“Roughly 30 per cent of Queensland independent schools will lose funding over the next eight years and are projected to receive $375 million less in Australian Government funding between 2021 and 2029,” he said.