Trustees Of Phillips Academy

Organization Overview

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.

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.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Monticello Associates
Investment Advisory
$350,000
Stanmar Inc
Architecture
$2,121,820
Galanis Consulting Inc
Construction Mgmt
$266,320
Mitchell Silberberg Knupp Llp
Attorneys
$197,486
Eagle Capital Management Llc
Asset Managers
$214,209
View All Vendors

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$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

Grants Awarded

Over the last fiscal year, Trustees Of Phillips Academy has awarded $465,493 in support to 2 organizations.

Grant RecipientAmount

TOWN OF ANDOVER

PURPOSE: SEE PART IV

$435,420

CITY OF METHUEN

PURPOSE: SEE PART IV

$30,073
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Trustees Of Phillips Academy has recieved totaling $300.

Awarding OrganizationAmount
Sharrock Family Charitable Tr

Harrison, NY

PURPOSE: GENERAL OPERATING SUPPORT

$300
View Grant Recipient Profile

Endowment Analysis

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

Peer Organizations

Organization NameAssets
Phillips Exeter Academy
Exeter, NH
$245,618,588
Trustees Of Phillips Academy
Andover, MA
$191,095,685
Choate Rosemary Hall Foundation Incorporated
Wallingford, CT
$80,573,016
Hotchkiss School
Lakeville, CT
$135,336,667
St Pauls School
Concord, NH
$117,316,597
Trustees Of Deerfield Academy
Deerfield, MA
$87,019,997
Taft School Corporation
Watertown, CT
$83,525,324
Northfield Mount Hermon School
Mount Hermon, MA
$64,524,302
Loomis Institute
Windsor, CT
$66,028,387
Noble And Greenough School
Dedham, MA
$55,304,957
Pinkerton Academy
Derry, NH
$52,612,732
Groton School
Groton, MA
$50,710,312

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