Phillips Exeter Academy

Analysis

Phillips Exeter Academy is a registered charity in United States, based in Exeter, NH. It received its IRS tax-exemption ruling in July 1946, 80 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Phillips Exeter Academy reported income of $153.6m and spending of $153.2m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $175.1m to $153.6m (-12%), an average of -3.2% a year. The sharpest change came in the year to June 2021, when income rose by 52%. Over the whole period it spent 72% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Phillips Exeter Academy sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NH. Charities of a similar size with the same main cause include University of Nevada-Reno Foundation ($151.9m), Augustana College ($153.9m) and George Fox University ($151.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $1.1m (0.7% of expenses). Other salaries and wages came to $50.9m. At year end it held assets of $2.00bn against liabilities of $191.9m, net assets of $1.81bn. It reported 1,206 employees.