Trustees of Phillips Academy
Trustees of Phillips Academy reported $207.7 million in revenue and $172.2 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $78.68 went to program services, $12.78 to management and general costs and $8.54 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 44.9% of the total. The highest compensation it reported for one person was $1,205,089 (CHIEF INVESTMENT OFFICER). 146 people received more than $100,000 in reportable compensation. Revenue fell 11% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $172MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $208MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 78.7% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 12.8% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 8.5% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.42 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 16.7% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 44.9% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,205,089 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.70% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 146 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 130.7 | 13.3 |
| Independent voting board members Part VI 1a–1b | 24 of 25 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseEducation, 1,168 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…
Education, 558 students, and 60 advantage students - summer session: the summer session offers its students intensive academic enrichment through a variety of on-campus 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 keeping with one of the academy's ideals "to be a private school with a…
Education, 108 students - mathematics and science for minority students (ms) 2: (ms) 2, founded in 1977, provides academic enrichment, college access, and opportunities for personal development to nurture the competencies and self-confidence of academically talented and motivated high school students from underrepresented communities who are interested in careers in math and science related fields for five weeks for three consecutive summers at Phillips Academy. The program is free to all enrolled students, including travel to and from andover. Students apply during the fall of their 9th…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CHIEF INVESTMENT OFFICER Key employee, 55.0 hrs/week | $1,118,162 | $0 | $86,927 | $1,205,089 |
| HEAD OF SCHOOL / TRUSTEE Director/trustee, officer, 60.0 hrs/week | $907,895 | $0 | $246,730 | $1,154,625 |
| SECRETARY OF THE ACADEMY Key employee, 55.0 hrs/week | $543,311 | $0 | $121,487 | $664,798 |
| DEP HD OF SCH/INT DEAN FACULTY Key employee, 55.0 hrs/week | $299,928 | $0 | $205,806 | $505,734 |
| ASST HEAD OF SCHOOL/CFO Officer, 55.0 hrs/week | $366,856 | $0 | $125,922 | $492,778 |
| ASSOC DIRECTOR OF INVESTMENTS Highest compensated employee, 55.0 hrs/week | $434,800 | $0 | $53,644 | $488,444 |
| CHIEF MEDICAL OFFICER Highest compensated employee, 55.0 hrs/week | $258,839 | $0 | $205,551 | $464,390 |
| ASSOC DIRECTOR OF INVESTMENTS Highest compensated employee, 55.0 hrs/week | $382,395 | $0 | $45,691 | $428,086 |
146 people received more than $100,000 in reportable compensation from Trustees of Phillips Academy (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.8M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b25 · 24 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 51,238
- Volunteers Part I, line 61,493
Private foundation grants it received
111 private foundations reported grants to Trustees of Phillips Academy totaling $4.7M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Trustees of Phillips Academy's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Trustees of Phillips Academy, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Trustees of Phillips Academy spent in FY2025, $78.68 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Tuskegee UniversityTuskegee Institute, AL · revenue $208M · programs 83.4% · FY2025
- Board of Trustees of Whitman CollegeWalla Walla, WA · revenue $208M · programs 79.7% · FY2025
- Wikimedia FoundationSan Francisco, CA · revenue $205M · programs 77.1% · FY2025
- Iona UniversityNew Rochelle, NY · revenue $208M · programs 89.1% · FY2025
- California Lutheran UniversityThousand Oaks, CA · revenue $205M · programs 90.5% · FY2025
All education charities · Largest charities in Massachusetts
Questions people ask
How much of Trustees of Phillips Academy's spending goes to programs?
In the fiscal year ending June 30, 2025, Trustees of Phillips Academy reported that 78.7% of its $172.2 million in expenses went to program services, 12.8% to management and general and 8.5% to fundraising (Form 990, Part IX).
How much does Trustees of Phillips Academy pay its top executive?
The largest total compensation Trustees of Phillips Academy reported for one person in the fiscal year ending June 30, 2025 was $1,205,089, for the role of CHIEF INVESTMENT OFFICER (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Trustees of Phillips Academy get its money?
Of $207.7 million in revenue in the fiscal year ending June 30, 2025, 16.7% came from contributions and grants and 44.9% from program service revenue (Form 990, Part VIII).
Is Trustees of Phillips Academy a registered charity?
The IRS lists EIN 04-2103579 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202641329349305314 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202521299349300637 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202421319349302902 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202331319349307333 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231329349301793 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202141339349305734 · read the filing
All filings for EIN 04-2103579: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.