Phillips Exeter Academy
- Assets
- $2.1b
- Revenue
- $245.6m
- Investments
- $1.3b
- Employees
- 1,157
- 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 06/2022, Phillips Exeter Academy employed 1,157 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 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $141.1m during the year ending 06/2021. While expenses have increased by 2.7% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 | $450,841 |
Justin Merrill Director Of Investments | 40 | $354,434 | |
Marijka Beauchesne CFO | Officer | 40 | $306,220 |
Katharina Lilly Medical Director | 40 | $275,314 | |
William Leahy Dean Of Enrollment | 40 | $213,976 | |
Holly Barcroft General Counsel | 40 | $256,577 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shawmut Design Construction Contract Services | 6/29/22 | $1,440,493 |
The Slam Collaborative Contract Services | 6/29/22 | $725,054 |
Windover Construction Inc Contract Services | 6/29/22 | $3,023,494 |
David W White Son Inc Contract Services | 6/29/22 | $503,345 |
Robert Am Stern Architects Llp Contract Services | 6/29/22 | $912,235 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,175,585 |
| 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 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 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 | $0 |
| 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 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,874,948,129 |