Trustees Of Phillips Academy is located in Andover, MA. The organization was established in 1961. 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, Trustees Of Phillips Academy employed 945 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trustees Of Phillips 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, Trustees Of Phillips Academy generated $191.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $129.1m during the year ending 06/2021. While expenses have increased by 1.1% 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.
Since 2015, Trustees Of Phillips Academy has awarded 18 individual grants totaling $3,714,719. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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:
EDUCATION, 1,187 STUDENTS - REGULAR SESSION GRADES 9 - 12: PHILLIPS ACADEMY IS A RESIDENTIAL SECONDARY SCHOOL WHICH SEEKS STUDENTS OF INTELLIGENCE AND INTEGRITY FROM DIVERSE CULTURAL, RACIAL, SOCIOECONOMIC AND GEOGRAPHIC BACKGROUNDS. THE SCHOOL'S RESIDENTIAL STRUCTURE ENABLES FACULTY TO SUPPORT STUDENTS IN THEIR PERSONAL, SOCIAL AND INTELLECTUAL DEVELOPMENT. THE ACADEMIC PROGRAM FOSTERS EXCELLENCE IN ALL DISCIPLINES WITHIN THE LIBERAL ARTS TRADITION. FACULTY MEMBERS GUIDE STUDENTS IN MASTERING SKILLS, ACQUIRING KNOWLEDGE AND THINKING CRITICALLY, CREATIVELY AND INDEPENDENTLY. THE SCHOOL STRIVES TO HELP YOUNG PEOPLE ACHIEVE THEIR POTENTIAL NOT ONLY INTELLECTUALLY, BUT ALSO ARTISTICALLY, ATHLETICALLY AND MORALLY, SO THAT THEY MAY LEAD RESPONSIBLE AND FULFILLING LIVES. THE ACADEMY IS COMMITTED TO ESTABLISHING AN ENVIRONMENT THAT ENCOURAGES PEOPLE OF DIVERSE BACKGROUNDS AND BELIEFS TO UNDERSTAND AND RESPECT ONE ANOTHER AND TO BE SENSITIVE TO THE DIFFERENCES OF GENDER, ETHNICITY, CLASS AND SEXUAL ORIENTATION. IN ITS PROGRAMS THE SCHOOL SEEKS TO PROMOTE A BALANCE OF LEADERSHIP, COOPERATION AND SERVICE, TOGETHER WITH A DEEPER AWARENESS OF THE GLOBAL COMMUNITY AND NATURAL WORLD. ANDOVER'S 1778 CONSTITUTION CHARGES THE ACADEMY TO PREPARE "YOUTH FROM EVERY QUARTER" TO ASPIRE EQUALLY TO KNOWLEDGE AND GOODNESS. THIS OBLIGATION CHALLENGES STUDENTS IN MIND, BODY AND SPIRIT TO SEE BEYOND THEMSELVES AND TO GO BEYOND THE FAMILIAR; TO REMAIN COMMITTED TO DEVELOPING WHAT IS FINEST IN THEMSELVES AND OTHERS, FOR OTHERS AND THEMSELVES.
EDUCATION, 558 STUDENTS AND 308 E-SUMMER STUDENTS - SUMMER SESSION: THE SUMMER SESSION OFFERS ITS STUDENTS INTENSIVE ACADEMIC ENRICHMENT THROUGH A VARIETY OF ON-CAMPUS AND VIRTUAL PROGRAMS. ITS FLAGSHIP ON-CAMPUS PROGRAM, A FIVE-WEEK RESIDENTIAL EXPERIENCE, IS CHARACTERIZED BY DEMANDING CLASSES, ENGAGING RECREATIONAL AFTERNOON ACTIVITIES, SOCIAL EVENTS, AND CULTURAL OPPORTUNITIES, AS WELL AS WELCOMING DORMITORIES, ALL OF WHICH ARE DESIGNED TO PREPARE STUDENTS IN GRADES 7 - 12 FOR SECONDARY SCHOOL AND COLLEGIATE RESIDENTIAL LIFE. IN ADDITION, THE FULLY-VIRTUAL E-SUMMER PROGRAM OFFERS STUDENTS FROM AROUND THE GLOBE AN OPPORTUNITY TO ENGAGE MEANINGFULLY WITH TALENTED FACULTY IN A PERSONALIZED, MASTERY-BASED EXPERIENCE, COMBINING SYNCHRONOUS CLASS SESSIONS AND 1:1 LEARNING CONFERENCES WITH ASYNCHRONOUS, SELF-PACED ONLINE LEARNING. IN KEEPING WITH ONE OF THE ACADEMY'S IDEALS "TO BE A PRIVATE SCHOOL WITH A PUBLIC PURPOSE," SUMMER SESSION STRIVES YEARLY TO USE ITS FINANCIAL AID BUDGET IN ORDER TO OFFER THE EXPERIENCE TO AS MANY QUALIFIED AND DESERVING APPLICANTS AS POSSIBLE. SUMMER SESSION WORKS COOPERATIVELY WITH OTHER PROGRAMS SUCH AS MINDS MATTER, THE EOS FOUNDATION, REACH MEMPHIS, THE WIGHT FOUNDATION, AND OTHERS TO IDENTIFY SCHOLARS "FROM EVERY QUARTER" TO SPONSOR FOR THIS SUMMER OPPORTUNITY. FINALLY, SUMMER SESSION SERVES AS THE UMBRELLA FOR THE OTHER OUTREACH PROGRAMS THAT WORK DIRECTLY WITH STUDENTS DURING THE SUMMER, BOTH ON-CAMPUS AND VIRTUALLY, MAKING SURE THAT THEY RECEIVE APPROPRIATE SUPPORT, HAVE ACCESS TO ACADEMY RESOURCES, AND SHARE AS FULLY AS POSSIBLE IN THE SUMMER COMMUNITY.
EDUCATION, 108 STUDENTS - MATHEMATICS AND SCIENCE FOR MINORITY STUDENTS (MS) 2: (MS) 2, FOUNDED IN 1977, OFFERS AFRICAN AMERICAN, LATINO AND NATIVE AMERICAN PUBLIC SCHOOL STUDENTS FROM TARGETED REGIONS ACROSS THE UNITED STATES THE OPPORTUNITY TO IMMERSE THEMSELVES IN THE STUDY OF MATHEMATICS AND SCIENCE FOR THREE CONSECUTIVE SUMMERS AT PHILLIPS ACADEMY. DUE TO THE CORONAVIRUS PANDEMIC, THE (MS)2 PROGRAM OPERATED REMOTELY DURING THE SUMMER OF 2020. THE PROGRAM IS FREE TO ALL STUDENTS ACCEPTED AND INCLUDES TRAVEL TO AND FROM ANDOVER. STUDENTS BEGIN THE PROGRAM THE SUMMER FOLLOWING 9TH GRADE; THEREFORE, THEY MUST BE IN 9TH GRADE WHEN THEY APPLY. THE PROGRAM PROVIDES THE SCHOLARS WITH RIGOROUS CHALLENGES IN ORDER TO PREPARE THEM BETTER FOR COLLEGE AND CAREERS IN ENGINEERING, SCIENCE, MEDICINE, COMPUTERS AND OTHER TECHNICAL FIELDS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kirsten A Glantz Chief Investment Officer | Officer | 55 | $879,986 |
Raynard Kington Head Of School/trustee | OfficerTrustee | 60 | $492,476 |
Thomas P Lockerby Secretary Of The Academy | Officer | 55 | $384,671 |
Fernando R Alonso Asst Head Of School/cfo | Officer | 55 | $297,715 |
John G Palfrey Former Head Of School | 0 | $284,260 | |
James F Ventre Asst Head Of School Admission | Officer | 55 | $252,948 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Monticello Associates Investment Advisory | 6/29/21 | $350,000 |
Stanmar Inc Architecture | 6/29/21 | $2,121,820 |
Galanis Consulting Inc Construction Mgmt | 6/29/21 | $266,320 |
Eagle Capital Management Llc Asset Managers | 6/29/21 | $214,209 |
Mitchell Silberberg Knupp Llp Attorneys | 6/29/21 | $197,486 |
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 | $34,057,782 |
Noncash contributions included in lines 1a–1f | $4,643,597 |
Total Revenue from Contributions, Gifts, Grants & Similar | $34,057,782 |
Total Program Service Revenue | $64,175,332 |
Investment income | $5,613,388 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $87,249,808 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | -$625 |
Miscellaneous Revenue | $0 |
Total Revenue | $191,095,685 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $465,493 |
Grants and other assistance to domestic individuals. | $20,193,709 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $3,577,512 |
Compensation of current officers, directors, key employees. | $2,423,042 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $43,928,509 |
Pension plan accruals and contributions | $4,101,416 |
Other employee benefits | $7,067,141 |
Payroll taxes | $3,373,527 |
Fees for services: Management | $31,658 |
Fees for services: Legal | $359,984 |
Fees for services: Accounting | $225,553 |
Fees for services: Lobbying | $7,460 |
Fees for services: Fundraising | $14,131 |
Fees for services: Investment Management | $927,086 |
Fees for services: Other | $412,979 |
Advertising and promotion | $147,658 |
Office expenses | $7,510,241 |
Information technology | $1,270,749 |
Royalties | $34,012 |
Occupancy | $3,367,175 |
Travel | $184,281 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $80,805 |
Interest | $5,393,774 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $10,025,743 |
Insurance | $1,172,438 |
All other expenses | $3,048,088 |
Total functional expenses | $129,086,973 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $80,924,607 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $78,018,975 |
Accounts receivable, net | $5,542,646 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $4,068 |
Inventories for sale or use | $577,683 |
Prepaid expenses and deferred charges | $3,245,345 |
Net Land, buildings, and equipment | $332,073,181 |
Investments—publicly traded securities | $238,893,539 |
Investments—other securities | $1,214,401,523 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $4,097,188 |
Total assets | $1,957,778,755 |
Accounts payable and accrued expenses | $13,427,051 |
Grants payable | $0 |
Deferred revenue | $18,568,385 |
Tax-exempt bond liabilities | $59,660,884 |
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 | $80,786,482 |
Other liabilities | $35,155,248 |
Total liabilities | $207,598,050 |
Net assets without donor restrictions | $526,906,066 |
Net assets with donor restrictions | $1,223,274,639 |
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 | $1,957,778,755 |
Over the last fiscal year, Trustees Of Phillips Academy has awarded $465,493 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
TOWN OF ANDOVER PURPOSE: SEE PART IV | $435,420 |
CITY OF METHUEN PURPOSE: SEE PART IV | $30,073 |
Over the last fiscal year, we have identified 1 grants that Trustees Of Phillips Academy has recieved totaling $300.
Awarding Organization | Amount |
---|---|
Sharrock Family Charitable Tr Harrison, NY PURPOSE: GENERAL OPERATING SUPPORT | $300 |
Beg. Balance | $1,123,899,696 |
Earnings | $344,812,750 |
Net Contributions | $14,854,974 |
Other Expense | $35,252,372 |
Grants | $16,933,713 |
Ending Balance | $1,431,381,335 |
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 |
Choate Rosemary Hall Foundation Incorporated Wallingford, CT | $824,930,363 | $80,573,016 |
Hotchkiss School Lakeville, CT | $832,226,197 | $135,336,667 |
St Pauls School Concord, NH | $908,168,263 | $117,316,597 |
Trustees Of Deerfield Academy Deerfield, MA | $1,009,854,595 | $87,019,997 |
Taft School Corporation Watertown, CT | $447,949,060 | $83,525,324 |
Northfield Mount Hermon School Mount Hermon, MA | $279,135,089 | $64,524,302 |
Loomis Institute Windsor, CT | $445,458,169 | $66,028,387 |
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 |