I taught at a school that had around 500 students PK-12. We were able to have two sections of all grade levels most years. I'm a small school advocate, but I don't think a district with less than 200 students is viable except if the district tax payers are willing to pay extra to keep their school open. It would be hard for a school that small to provide many curriculum options at the secondary level.
I don't know Orient Macksburg's history, but there are schools near me that have refused to consolidate with other districts and they end up on an island by themselves.
@ClarindaA's mentioned a couple.