Trustees of Phillips Academy

Analysis

Trustees of Phillips Academy is a registered charity in United States, based in Andover, MA. It received its IRS tax-exemption ruling in March 1961, 65 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, Trustees of Phillips Academy reported income of $186.8m and spending of $150.7m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $212.6m to $186.8m (-12%), an average of -3.2% a year. The sharpest change came in the year to June 2022, when income rose by 26%. Over the whole period it spent 65% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Trustees of Phillips Academy sits at the 100th 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 99th percentile within MA. Charities of a similar size with the same main cause include American University in Cairo ($186.7m), St Francis College ($186.9m) and Macalester College ($186.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $4.7m (3.1% of expenses). Other salaries and wages came to $49.6m. It paid $11k in professional fundraising fees. At year end it held assets of $1.91bn against liabilities of $206.1m, net assets of $1.71bn. It reported 1,132 employees.