Phillips Exeter Academy
- Assets
- $2.1b
- Revenue
- $245.6m
- Investments
- $1.3b
- Employees
- 1,112
- Location
- Exeter, NH
- Founding
- 07/1946
- Data as of
- 06/2021
- EIN
- 02-0222174
Organization Overview
Phillips Exeter Academy is located in Exeter, NH. The organization was established in 1946. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2021, Phillips Exeter Academy employed 1,112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phillips Exeter Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Phillips Exeter Academy generated $245.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $141.1m during the year ending 06/2021. While expenses have increased by 3.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
SEE SCHEDULE O.
SEE SCHEDULE O.
AUXILIARY ENTERPRISES INCLUDE STUDENT GRILL, FACILITY RENTALS, AND THE CHILDREN'S CENTER WHICH SERVICE THE ACADEMY DURING BOTH SUMMER AND REGULAR SESSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Rawson Principal | OfficerTrustee | 40 | $436,838 |
Justin Merrill Director Of Investments | 40 | $339,204 | |
Marijka Beauchesne CFO | Officer | 40 | $295,605 |
Morgan Dudley Director Institutional Adv. | 40 | $284,196 | |
Holly Barcroft General Counsel | 40 | $247,867 | |
Katharina Lilly Medical Director | 40 | $229,725 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shawmut Design Construction Contract Services | 6/29/21 | $6,334,756 |
Ferrilli Information Group It Contract Services | 6/29/21 | $400,020 |
Cutler Associates Contract Services | 6/29/21 | $3,447,841 |
Ann Beha Architects Contract Services | 6/29/21 | $471,509 |
The Slam Collaborative Contract Services | 6/29/21 | $668,290 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,175,585 |
| Noncash contributions included in lines 1a–1f | $3,539,863 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,175,585 |
| Total Program Service Revenue | $60,246,648 |
| Investment income | $6,329,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $45,174 |
| Net Gain/Loss on Asset Sales | $128,270,464 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$115,131 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $245,618,588 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $26,096,955 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $844,611 |
| Compensation of current officers, directors, key employees. | $450,143 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,352,725 |
| Pension plan accruals and contributions | $4,983,650 |
| Other employee benefits | $9,495,131 |
| Payroll taxes | $2,742,864 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $735,073 |
| Fees for services: Accounting | $309,253 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $266,815 |
| Fees for services: Other | $2,324,294 |
| Advertising and promotion | $285,696 |
| Office expenses | $1,431,950 |
| Information technology | $2,480,767 |
| Royalties | $0 |
| Occupancy | $6,758,453 |
| Travel | $174,439 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $550,891 |
| Interest | $2,544,631 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,307,391 |
| Insurance | $1,287,066 |
| All other expenses | $152,060 |
| Total functional expenses | $141,057,738 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,953,891 |
| Savings and temporary cash investments | $216,935,824 |
| Pledges and grants receivable | $34,111,833 |
| Accounts receivable, net | $566,811 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $373,316 |
| Prepaid expenses and deferred charges | $3,534,866 |
| Net Land, buildings, and equipment | $333,933,358 |
| Investments—publicly traded securities | $47,950,790 |
| Investments—other securities | $1,330,735,498 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $95,782,133 |
| Total assets | $2,084,878,320 |
| Accounts payable and accrued expenses | $8,167,582 |
| Grants payable | $0 |
| Deferred revenue | $20,621,355 |
| Tax-exempt bond liabilities | $80,000,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $101,141,254 |
| Total liabilities | $209,930,191 |
| Net assets without donor restrictions | $500,668,223 |
| Net assets with donor restrictions | $1,374,279,906 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,084,878,320 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Phillips Exeter Academy has recieved totaling $47,300.
| Awarding Organization | Amount |
|---|---|
Georgescu Family Foundation Westport, CT PURPOSE: GENERAL BUSINESS | $30,000 |
Robbins Foundation Inc Watermill, NY PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
Andrew And Paulette Laszlo Foundation Inc Billings, MT PURPOSE: PHILANTHROPIC PURPOSES | $5,000 |
Kozlowski Family Foundation Greenwich, CT PURPOSE: EDUCATION | $5,000 |
The Mclean Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $2,000 |
Noboru Murakami And Hiroko Murakami Foundation Gilford, NH PURPOSE: EDUCATIONAL | $300 |
Endowment Analysis
| Beg. Balance | $1,313,339,317 |
| Earnings | $337,216,640 |
| Admin Expense | $402,933 |
| Net Contributions | $34,203,091 |
| Other Expense | $45,929,792 |
| Grants | $22,015,150 |
| Ending Balance | $1,616,411,173 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Phillips Exeter Academy Exeter, NH | $2,084,878,320 | $245,618,588 |
Trustees Of Phillips Academy Andover, MA | $1,957,778,755 | $191,095,685 |
St Pauls School Concord, NH | $908,168,263 | $117,316,597 |
Trustees Of Deerfield Academy Deerfield, MA | $1,009,854,595 | $87,019,997 |
Northfield Mount Hermon School Mount Hermon, MA | $279,135,089 | $64,524,302 |
Noble And Greenough School Dedham, MA | $357,051,555 | $55,304,957 |
Pinkerton Academy Derry, NH | $88,400,593 | $52,612,732 |
Groton School Groton, MA | $519,152,774 | $50,710,312 |
Middlesex School Concord, MA | $485,283,896 | $51,739,388 |
Trustees Of Thayer Academy Braintree, MA | $161,523,903 | $74,068,471 |
Tabor Academy Marion, MA | $131,644,395 | $42,865,044 |
Berkshire School Inc Sheffield, MA | $360,181,943 | $53,167,690 |