TRUSTEES OF PHILLIPS ACADEMY: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: TRUSTEES OF PHILLIPS ACADEMY (EIN 04-2103579)
Tax period: 2024-07-01 to 2025-06-30
Filed: 2026-05-12
IRS object ID: 202641329349305314
Schema version: 2024v5.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule D
Schedule E
Schedule F
Schedule I
Schedule J
Schedule K
Schedule L
Schedule M
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2026-05-12T14:05:06-05:00	ReturnTs
Tax Period End	2025-06-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	PwC US Tax LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	2001 MARKET ST STE 1800	AddressLine1Txt
City	PHILADELPHIA	CityNm
State Abbreviation	PA	StateAbbreviationCd
ZIP	19103	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2024-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	042103579	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	TRUSTEES OF PHILLIPS ACADEMY	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
In Care Of	% FERNANDO R ALONSO	InCareOfNm
Business Name Control	TRUS	BusinessNameControlTxt
Phone	9787494000	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	180 MAIN STREET	AddressLine1Txt
City	ANDOVER	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	018104166	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	FERNANDO R ALONSO	PersonNm
Person Title	ASST HEAD OF SCHOOL	PersonTitleTxt
Phone	9787494000	PhoneNum
Signature	2026-05-11	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	Yes (true)	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	ERICA R MCREYNOLDS	PreparerPersonNm
PTIN	P00977806	PTIN
Phone	2673303000	PhoneNum
Preparation	2026-05-11	PreparationDt

Field	Value	IRS element (for citing)
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	RAYNARD KINGTON	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	180 MAIN STREET	AddressLine1Txt
City	ANDOVER	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	018104166	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$576,087,136	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	WWW.ANDOVER.EDU	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1778	FormationYr
Legal Domicile State	MA	LegalDomicileStateCd
Activity Or Mission	SEE SCHEDULE O	ActivityOrMissionDesc
Voting Members Governing Body	25	VotingMembersGoverningBodyCnt
Voting Members Independent	24	VotingMembersIndependentCnt
Total Employee	1238	TotalEmployeeCnt
Total Volunteers	1493	TotalVolunteersCnt
Total Gross UBI	$4,835,035	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$29,255,120	PYContributionsGrantsAmt
CY Contributions Grants	$34,746,955	CYContributionsGrantsAmt
PY Program Service Revenue	$87,017,521	PYProgramServiceRevenueAmt
CY Program Service Revenue	$93,307,459	CYProgramServiceRevenueAmt
PY Investment Income	$91,600,966	PYInvestmentIncomeAmt
CY Investment Income	$79,009,751	CYInvestmentIncomeAmt
PY Other Revenue	$25,393	PYOtherRevenueAmt
CY Other Revenue	$610,282	CYOtherRevenueAmt
PY Total Revenue	$207,899,000	PYTotalRevenueAmt
CY Total Revenue	$207,674,447	CYTotalRevenueAmt
PY Grants And Similar Paid	$27,523,735	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$30,214,137	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$75,050,686	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$79,365,104	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$15,975	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$9,138	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$14,713,065	CYTotalFundraisingExpenseAmt
PY Other Expenses	$59,279,142	PYOtherExpensesAmt
CY Other Expenses	$62,637,425	CYOtherExpensesAmt
PY Total Expenses	$161,869,538	PYTotalExpensesAmt
CY Total Expenses	$172,225,804	CYTotalExpensesAmt
PY Revenues Less Expenses	$46,029,462	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$35,448,643	CYRevenuesLessExpensesAmt
Total Assets BOY	$2,008,258,462	TotalAssetsBOYAmt
Total Assets EOY	$2,082,564,322	TotalAssetsEOYAmt
Total Liabilities BOY	$212,115,262	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$206,455,680	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,796,143,200	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,876,108,642	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	SEE SCHEDULE O	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Expense	$128,262,863	ExpenseAmt
Grant	$29,286,251	GrantAmt
Revenue	$87,278,854	RevenueAmt
Desc	EDUCATION, 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 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.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Expense	$4,690,448	ExpenseAmt
Grant	$361,323	GrantAmt
Revenue	$6,053,139	RevenueAmt
Desc	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 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.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Expense	$930,500	ExpenseAmt
Grant	$8,173	GrantAmt
Revenue	$0	RevenueAmt
Desc	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 GRADE YEAR AND BEGIN THE PROGRAM THE FOLLOWING SUMMER. THE PROGRAM PROVIDES THE SCHOLARS WITH RIGOROUS COURSEWORK AND OFFERS THEM OPPORTUNITIES TO GAIN VALUABLE LIFE SKILLS TO BETTER PREPARE THEM FOR COLLEGE AND CAREERS IN MATH AND SCIENCE RELATED FIELDS.	Desc

Field	Value	IRS element (for citing)
Total Other Prog Srvc Expense	$1,620,899	TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant	$558,390	TotalOtherProgSrvcGrantAmt
Total Other Prog Srvc Revenue	$39,000	TotalOtherProgSrvcRevenueAmt
Total Program Service Expenses	$135,504,710	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	Yes (true)	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	false	LobbyingActivitiesInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	Yes (true)	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Donor Rstr Or Quasi Endowments	Yes (true)	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (true)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	Yes (true)	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	Yes (true)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (true)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (true)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	Yes (true)	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	Yes (true)	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	Yes (true)	GrantsToOrganizationsInd
Grants To Individuals	Yes (true)	GrantsToIndividualsInd
Schedule J Required	Yes (true)	ScheduleJRequiredInd
Tax Exempt Bonds	Yes (true)	TaxExemptBondsInd
Invest Tax Exempt Bonds	false	InvestTaxExemptBondsInd
Escrow Account	false	EscrowAccountInd
On Behalf Of Issuer	false	OnBehalfOfIssuerInd
Engaged In Excess Benefit Trans	false	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	false	PYExcessBenefitTransInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	Yes (true)	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	false	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	Yes (true)	DeductibleNonCashContriInd
Deductible Art Contribution	Yes (true)	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	Yes (true)	RelatedEntityInd
Related Organization Ctrl Ent	Yes (true)	RelatedOrganizationCtrlEntInd
Transaction With Control Ent	false	TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	459	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	1238	EmployeeCnt
Employment Tax Returns Filed	Yes (true)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (true)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (true)	Form990TFiledInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Quid Pro Quo Contributions	false	QuidProQuoContributionsInd
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	Yes (true)	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	25	GoverningBodyVotingMembersCnt
Independent Voting Member	24	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	false	MembersOrStockholdersInd
Election Of Board Members	false	ElectionOfBoardMembersInd
Decisions Subject To Approva	false	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (true)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (true)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (true)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (true)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (true)	WhistleblowerPolicyInd
Document Retention Policy	Yes (true)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (true)	CompensationProcessCEOInd
Compensation Process Other	Yes (true)	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd
States Where Copy Of Return Is Fld	MA	StatesWhereCopyOfReturnIsFldCd
States Where Copy Of Return Is Fld	NY	StatesWhereCopyOfReturnIsFldCd
Upon Request	Yes (X)	UponRequestInd
Other	Yes (X)	OtherInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	FERNANDO R ALONSO	PersonNm
Phone	9787494000	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	180 MAIN STREET	AddressLine1Txt
City	ANDOVER	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	018104166	ZIPCd

Field	Value	IRS element (for citing)
Info In Schedule O Part VII	Yes (X)	InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (36 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Key EmployeeKeyEmployeeInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Highest Compensated EmployeeHighestCompensatedEmployeeInd	Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
KIRSTEN A GLANTZ
CHIEF INVESTMENT OFFICER	55.0	0.0	Yes (X)	$1,118,162	$0	$86,927
RAYNARD S KINGTON
HEAD OF SCHOOL / TRUSTEE	60.0	0.0		$907,895	$0	$246,730	Yes (X)	Yes (X)
THOMAS P LOCKERBY
SECRETARY OF THE ACADEMY	55.0	0.0	Yes (X)	$543,311	$0	$121,487
MERRILEE MARDON
DEP HD OF SCH/INT DEAN FACULTY	55.0	0.0	Yes (X)	$299,928	$0	$205,806
FERNANDO R ALONSO
ASST HEAD OF SCHOOL/CFO	55.0	0.0		$366,856	$0	$125,922		Yes (X)
CHRISTIAN A REUSCHE
ASSOC DIRECTOR OF INVESTMENTS	55.0	0.0		$434,800	$0	$53,644			Yes (X)
AMY PATEL
CHIEF MEDICAL OFFICER	55.0	0.0		$258,839	$0	$205,551			Yes (X)
ANDREW JAFFONI
ASSOC DIRECTOR OF INVESTMENTS	55.0	0.0		$382,395	$0	$45,691			Yes (X)
XUE YANG
ASSOC DIRECTOR OF INVESTMENTS	55.0	0.0		$372,353	$0	$55,330			Yes (X)
JESSICA L HERBSTER
GENERAL COUNSEL	55.0	0.0		$252,686	$0	$127,113			Yes (X)
JAMES F VENTRE
ASST HEAD OF SCHOOL ADMISSION	55.0	0.0	Yes (X)	$221,112	$0	$157,122
JEFFREY C DOMINA
DEAN OF FACULTY	55.0	0.0		$129,793	$0	$147,792				Yes (X)
CHRISTOPER S AUGUSTE
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
GIL CAFFRAY
TRUSTEE/TREASURER	3.0	0.0		$0	$0	$0	Yes (X)	Yes (X)
AMY CHRISTODOULO
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
DAVID J CORKINS
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
ANNA DURHAM
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
AMY C FALLS
TRUSTEE/PRESIDENT	3.0	0.0		$0	$0	$0	Yes (X)	Yes (X)
KEITH T FLAHERTY
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
ANDREW J GUFF JR
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
STEPHEN KING
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
TRISTIN BATCHELDER MANNION
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
CARLOS MONTEMAYOR
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
ALLISON E PICOTT
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
TAMARA ELLIOTT ROGERS
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
STACY SCHIFF
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
MICHAEL SCHMERTZLER
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
HENRY SMYTH
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
YICHEN ZHANG
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
ERIC L ZINTERHOFER
TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
ROBERT BARBER
ALUMNI TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
SANJIV DESAI
ALUMNI TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
AISHA JORGE MASSENGILL
ALUMNI TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
UCHE OSUJI
ALUMNI TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
LOYCE LASHAWNDRA PACE
ALUMNI TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)
KENT STRONG
ALUMNI TRUSTEE	3.0	0.0		$0	$0	$0	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$5,288,130	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$1,579,115	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	146	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	Yes (true)	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (true)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
ARAMARK CAMPUS SERVICES
2400 MARKET STREET	PHILADELPHIA	PA	19103	FOOD SERVICES	$3,891,721
CONSIGLI CONSTRUCTION CO INC
72 SUMNER STREET	MILFORD	MA	01757	CONSTRUCTION MGMT	$1,783,447
ARCHITECTURAL RESOURCES CAMBRIDGE
501 BOYLSTON STREET SUITE 4101	BOSTON	MA	02116	ARCHITECTURE	$755,176
NORTHERN TRUST COMPANY
50 SOUTH LASALLE STREET	CHICAGO	IL	60603	INVESTMENT CUSTODIAN	$541,214
BELKO LANDSCAPING
233 LAWRENCE ROAD	SALEM	NH	03079	LANDSCAPING SERVICES	$534,283

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	47	CntrctRcvdGreaterThan100KCnt
All Other Contributions	$34,746,955	AllOtherContributionsAmt
Noncash Contributions	$10,847,681	NoncashContributionsAmt
Total Contributions	$34,746,955	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
TUITION AND FEES	900099	$87,416,720	$87,416,720
COURSE PROGRAM & MATERIALS	900099	$3,229,341	$3,229,341
HOCKEY RINK	713940	$1,172,774	$755,773	$417,001
ALUMNI EVENTS	900099	$315,907	$315,907
FOOD SERVICES	900099	$252,486	$252,486

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$920,231	TotalRevenueColumnAmt
Related Or Exempt Func Income	$920,231	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$93,307,459	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$12,802,658	TotalRevenueColumnAmt
Unrelated Business Revenue	$975,114	UnrelatedBusinessRevenueAmt
Exclusion	$11,827,544	ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Royalties Revenue RoyaltiesRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$0	RealAmt
Personal	$0	PersonalAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$431,750,808	SecuritiesAmt
Other	$2,866,320	OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$368,410,035	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$63,340,773	SecuritiesAmt
Other	$2,866,320	OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$66,207,093	TotalRevenueColumnAmt
Unrelated Business Revenue	$3,313,173	UnrelatedBusinessRevenueAmt
Exclusion	$62,893,920	ExclusionAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$0	FundraisingGrossIncomeAmt
Fundraising Direct Expenses	$0	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Gaming Gross Income	$0	GamingGrossIncomeAmt
Gaming Direct Expenses	$0	GamingDirectExpensesAmt

Net Income From Gaming NetIncomeFromGamingGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	$1,247	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$2,654	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	-$1,407	TotalRevenueColumnAmt
Related Or Exempt Func Income	-$1,035	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	-$372	UnrelatedBusinessRevenueAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
COURTS & CAGE	713940	$30,375	$30,375
CHILDCARE REVENUE	624410	$99,744	$99,744
REBATE REVENUE	900099	$481,570		$481,570

Field	Value	IRS element (for citing)
Other Revenue Total	$611,689	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$207,674,447	TotalRevenueColumnAmt
Related Or Exempt Func Income	$93,370,993	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$4,835,035	UnrelatedBusinessRevenueAmt
Exclusion	$74,721,464	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$512,390	TotalAmt
Program Services	$512,390	ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$29,701,747	TotalAmt
Program Services	$29,701,747	ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$4,756,254	TotalAmt
Program Services	$688,758	ProgramServicesAmt
Management And General	$2,974,922	ManagementAndGeneralAmt
Fundraising	$1,092,574	FundraisingAmt

Comp Disqual Persons CompDisqualPersonsGrp

Field	Value	IRS element (for citing)
Total	$101,924	TotalAmt
Program Services	$101,924	ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$54,775,257	TotalAmt
Program Services	$43,532,931	ProgramServicesAmt
Management And General	$4,371,020	ManagementAndGeneralAmt
Fundraising	$6,871,306	FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$4,775,663	TotalAmt
Program Services	$3,643,272	ProgramServicesAmt
Management And General	$521,198	ManagementAndGeneralAmt
Fundraising	$611,193	FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$10,639,164	TotalAmt
Program Services	$8,531,281	ProgramServicesAmt
Management And General	$1,123,068	ManagementAndGeneralAmt
Fundraising	$984,815	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$4,316,842	TotalAmt
Program Services	$3,143,816	ProgramServicesAmt
Management And General	$542,318	ManagementAndGeneralAmt
Fundraising	$630,708	FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

Field	Value	IRS element (for citing)
Total	$160,010	TotalAmt
Program Services	$10,970	ProgramServicesAmt
Management And General	$149,040	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$347,629	TotalAmt
Management And General	$347,629	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$282,324	TotalAmt
Management And General	$282,324	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	$9,138	TotalAmt
Fundraising	$9,138	FundraisingAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$981,797	TotalAmt
Management And General	$981,797	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$862,361	TotalAmt
Program Services	$550,429	ProgramServicesAmt
Management And General	$183,524	ManagementAndGeneralAmt
Fundraising	$128,408	FundraisingAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$111,166	TotalAmt
Program Services	$108,366	ProgramServicesAmt
Management And General	$2,680	ManagementAndGeneralAmt
Fundraising	$120	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$7,270,439	TotalAmt
Program Services	$4,337,066	ProgramServicesAmt
Management And General	$2,390,295	ManagementAndGeneralAmt
Fundraising	$543,078	FundraisingAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$1,728,997	TotalAmt
Program Services	$1,122,963	ProgramServicesAmt
Management And General	$417,513	ManagementAndGeneralAmt
Fundraising	$188,521	FundraisingAmt

Royalties RoyaltiesGrp

Field	Value	IRS element (for citing)
Total	$36,377	TotalAmt
Program Services	$32,612	ProgramServicesAmt
Management And General	$3,765	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$5,245,045	TotalAmt
Program Services	$4,651,448	ProgramServicesAmt
Management And General	$569,156	ManagementAndGeneralAmt
Fundraising	$24,441	FundraisingAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$1,654,405	TotalAmt
Program Services	$1,138,663	ProgramServicesAmt
Management And General	$214,218	ManagementAndGeneralAmt
Fundraising	$301,524	FundraisingAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$1,364,532	TotalAmt
Program Services	$431,507	ProgramServicesAmt
Management And General	$280,563	ManagementAndGeneralAmt
Fundraising	$652,462	FundraisingAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$5,227,740	TotalAmt
Program Services	$3,600,525	ProgramServicesAmt
Management And General	$968,207	ManagementAndGeneralAmt
Fundraising	$659,008	FundraisingAmt

Payments To Affiliates PaymentsToAffiliatesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$11,480,986	TotalAmt
Program Services	$8,876,376	ProgramServicesAmt
Management And General	$2,365,349	ManagementAndGeneralAmt
Fundraising	$239,261	FundraisingAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$1,266,225	TotalAmt
Program Services	$1,127,217	ProgramServicesAmt
Management And General	$108,019	ManagementAndGeneralAmt
Fundraising	$30,989	FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt	FundraisingFundraisingAmt
FOOD SERVICE	$6,098,319	$6,098,319	$0	$0
OFFICE OF PHYSICAL PLANT	$7,145,683	$5,784,874	$1,360,809	$0
ADMINISTRATION	$1,806,683	$0	$1,806,683	$0
OFFICE OF ACADEMY RESOURCES	$1,506,793	$1,506,793	$0	$0

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$8,059,914	TotalAmt
Program Services	$6,270,463	ProgramServicesAmt
Management And General	$43,932	ManagementAndGeneralAmt
Fundraising	$1,745,519	FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$172,225,804	TotalAmt
Program Services	$135,504,710	ProgramServicesAmt
Management And General	$22,008,029	ManagementAndGeneralAmt
Fundraising	$14,713,065	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$56,362,511	BOYAmt
EOY	$64,056,380	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$13,416,057	BOYAmt
EOY	$15,659,417	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$84,015,936	BOYAmt
EOY	$80,837,587	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$9,533,494	BOYAmt
EOY	$7,897,467	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$10,513	BOYAmt
EOY	$20,320	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$680,602	BOYAmt
EOY	$663,675	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$3,747,284	BOYAmt
EOY	$4,205,577	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$601,839,866	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$193,524,552	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$399,770,260	BOYAmt
EOY	$408,315,314	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$299,412,150	BOYAmt
EOY	$277,549,354	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$1,135,593,203	BOYAmt
EOY	$1,216,724,886	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Intangible Assets IntangibleAssetsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$5,716,452	BOYAmt
EOY	$6,634,345	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$2,008,258,462	BOYAmt
EOY	$2,082,564,322	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$20,784,551	BOYAmt
EOY	$15,365,922	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$29,247,912	BOYAmt
EOY	$32,510,769	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$110,441,854	BOYAmt
EOY	$109,120,326	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

Field	Value	IRS element (for citing)
BOY	$30,109,588	BOYAmt
EOY	$30,118,995	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$21,531,357	BOYAmt
EOY	$19,339,668	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$212,115,262	BOYAmt
EOY	$206,455,680	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$596,902,502	BOYAmt
EOY	$622,509,503	EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,199,240,698	BOYAmt
EOY	$1,253,599,139	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,796,143,200	BOYAmt
EOY	$1,876,108,642	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$2,008,258,462	BOYAmt
EOY	$2,082,564,322	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$35,448,643	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$46,985,074	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	-$2,468,275	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	Yes (true)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (true)	AuditCommitteeInd
Federal Grant Audit Required	false	FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
School	Yes (X)	SchoolInd

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$34,057,782	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$43,904,998	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$45,200,612	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$29,255,120	CurrentTaxYearMinus1YearAmt
Current Tax Year	$34,746,955	CurrentTaxYearAmt
Total	$187,165,467	TotalAmt

Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$34,057,782	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$43,904,998	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$45,200,612	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$29,255,120	CurrentTaxYearMinus1YearAmt
Current Tax Year	$34,746,955	CurrentTaxYearAmt
Total	$187,165,467	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$23,327,000	SubstantialContributorsTotAmt
Public Support Total170	$163,838,467	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$5,613,388	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$11,677,569	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$10,834,495	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$11,911,119	CurrentTaxYearMinus1YearAmt
Current Tax Year	$12,802,658	CurrentTaxYearAmt
Total	$52,839,229	TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Income170 OtherIncome170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$240,004,696	TotalSupportAmt
Gross Receipts Rltd Activities	$404,756,865	GrossReceiptsRltdActivitiesAmt
Public Support CY170	0.68265	PublicSupportCY170Pct
Public Support PY170	0.68689	PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170	Yes (X)	ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Art Public Exhibition Amounts		ArtPublicExhibitionAmountsGrp
Held Works Art		HeldWorksArtGrp
Collection Used Pub Exhibition	Yes (X)	CollectionUsedPubExhibitionInd
Coll Used Scholarly Rsrch	Yes (X)	CollUsedScholarlyRsrchInd
Collection Used Preservation	Yes (X)	CollectionUsedPreservationInd
Coll Used Loan Or Exch Prog	Yes (X)	CollUsedLoanOrExchProgInd
Solicited Assets Sale	false	SolicitedAssetsSaleInd

CY Endwmt Fund CYEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,414,616,511	BeginningYearBalanceAmt
Contributions	$20,588,492	ContributionsAmt
Investment Earnings Or Losses	$116,509,209	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$23,084,110	GrantsOrScholarshipsAmt
Other Expenditures	$56,295,551	OtherExpendituresAmt
End Year Balance	$1,472,334,551	EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,326,015,489	BeginningYearBalanceAmt
Contributions	$14,986,950	ContributionsAmt
Investment Earnings Or Losses	$129,627,628	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$19,860,248	GrantsOrScholarshipsAmt
Other Expenditures	$36,153,308	OtherExpendituresAmt
End Year Balance	$1,414,616,511	EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,292,180,600	BeginningYearBalanceAmt
Contributions	$13,029,357	ContributionsAmt
Investment Earnings Or Losses	$58,524,976	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$17,316,403	GrantsOrScholarshipsAmt
Other Expenditures	$20,403,041	OtherExpendituresAmt
End Year Balance	$1,326,015,489	EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,431,381,335	BeginningYearBalanceAmt
Contributions	$28,958,372	ContributionsAmt
Investment Earnings Or Losses	-$74,734,725	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$31,386,879	GrantsOrScholarshipsAmt
Other Expenditures	$62,037,503	OtherExpendituresAmt
End Year Balance	$1,292,180,600	EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,123,899,696	BeginningYearBalanceAmt
Contributions	$14,854,974	ContributionsAmt
Investment Earnings Or Losses	$344,812,750	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$16,933,713	GrantsOrScholarshipsAmt
Other Expenditures	$35,252,372	OtherExpendituresAmt
End Year Balance	$1,431,381,335	EndYearBalanceAmt

Field	Value	IRS element (for citing)
Board Designated Balance EOY	0.23420	BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY	0.76580	PrmnntEndowmentBalanceEOYPct
Endowments Held Unrelated Org	Yes (true)	EndowmentsHeldUnrelatedOrgInd
Endowments Held Related Org	false	EndowmentsHeldRelatedOrgInd

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$2,593,005	OtherCostOrOtherBasisAmt
Book Value	$2,593,005	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$530,737,294	OtherCostOrOtherBasisAmt
Depreciation	$156,938,012	DepreciationAmt
Book Value	$373,799,282	BookValueAmt

Field	Value	IRS element (for citing)
Leasehold Improvements		LeaseholdImprovementsGrp

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$29,964,596	OtherCostOrOtherBasisAmt
Depreciation	$19,285,431	DepreciationAmt
Book Value	$10,679,165	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$38,544,971	OtherCostOrOtherBasisAmt
Depreciation	$17,301,109	DepreciationAmt
Book Value	$21,243,862	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$408,315,314	TotalBookValueLandBuildingsAmt
Financial Derivatives		FinancialDerivativesGrp
Closely Held Equity Interests		CloselyHeldEquityInterestsGrp

Other Securities OtherSecuritiesGrp (6 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
PRIV REAL ASSTS/ABSLT RTN/OTHR	$196,689,605	F
INTERNATIONAL EQUITIES	$93,387,927	F
HEDGE FUNDS	$435,159,971	F
PRIVATE EQTY & VENTURE CAPITAL	$408,690,998	F
REAL ESTATE	$78,571,069	F
DOMESTIC FIXED INCOME	$4,225,316	F

Field	Value	IRS element (for citing)
Total Book Value Securities	$1,216,724,886	TotalBookValueSecuritiesAmt
Federal Income Tax Liability	$0	FederalIncomeTaxLiabilityAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDesc	AmtAmt
ASSET RETIREMENT OBLIGATION	$1,348,261
LIABILITY FOR PLANNED GIFTS	$17,991,407

Field	Value	IRS element (for citing)
Total Liability	$19,339,668	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$222,806,748	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$46,985,074	NetUnrealizedGainsInvstAmt
Other Revenue	-$26,213,004	OtherRevenueAmt
Revenue Not Reported	$20,772,070	RevenueNotReportedAmt
Revenue Subtotal	$202,034,678	RevenueSubtotalAmt
Investment Expenses Not Incld	$2,198,667	InvestmentExpensesNotIncldAmt
Other Revenues Not Included	$3,441,102	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$5,639,769	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$207,674,447	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$142,841,306	TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included	$2,654	OtherExpensesIncludedAmt
Expenses Not Reported	$2,654	ExpensesNotReportedAmt
Expenses Subtotal	$142,838,652	ExpensesSubtotalAmt
Investment Expenses Not Incld2	$2,198,667	InvestmentExpensesNotIncld2Amt
Other Expenses Not Included	$27,188,485	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$29,387,152	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$172,225,804	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (9 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE D, PART III, LINE 1A:	GIFTS TO THE ACADEMY'S COLLECTIONS OF ART, ARTIFACTS, ANTIQUES, AND RARE BOOKS ARE NOT CAPITALIZED UNDER ITS ACCOUNTING POLICY FOR COLLECTIONS AND, AS SUCH, DONATIONS OF THESE ITEMS ARE NOT REFLECTED IN THE ACADEMY'S FINANCIAL STATEMENTS.
SCHEDULE D, PART III, LINE 4:	THE ACADEMY MAINTAINS THE ADDISON, AN ACADEMIC ART MUSEUM DEDICATED TO THE COLLECTION OF AMERICAN ART. THE MUSEUM'S PURPOSE IS TO ACQUIRE, PRESERVE, INTERPRET, AND EXHIBIT WORKS OF ART FOR THE EDUCATION AND ENJOYMENT OF LOCAL, REGIONAL, NATIONAL, AND INTERNATIONAL AUDIENCES, INCLUDING THE STUDENTS, FACULTY, AND COMMUNITY OF PHILLIPS ACADEMY, AND OTHER STUDENTS, TEACHERS, SCHOLARS, AND THE GENERAL PUBLIC. THE ACADEMY ALSO MAINTAINS THE PEABODY INSTITUTE, WHICH IS COMPRISED OF COLLECTIONS OF ARTIFACTS, DOCUMENTS, AND IMAGES CATALOGING THE INDIGENOUS CULTURES OF THE AMERICAS, PAST AND PRESENT, A COMPARATIVE COLLECTION, AS WELL AS BOOKS, MONOGRAPHS AND SERIALS ON ARCHAEOLOGY AND NATIVE CULTURES OF THE AMERICAS. THESE MATERIALS SERVE THE EDUCATION AND RESEARCH NEEDS PRIMARILY OF THE PHILLIPS ACADEMY COMMUNITY AND, TO A LESSER EXTENT, REGIONAL SCHOOLS AND THE BROADER COMMUNITY OF ARCHAEOLOGISTS AND SCHOLARS. THE PEABODY HAS DEVELOPED OVER FIFTY SINGLE-CLASS CURRICULUM UNITS AND TEACHES AN INTERDISCIPLINARY COURSE IN HUMAN ORIGINS, DRAWING UPON STAFF EXPERTISE, ITS LIBRARY, RESEARCH, IMAGE AND ARCHIVES COLLECTIONS. PEABODY PERSONNEL ALSO SUPERVISE THE HISTORY AND ARCHAELOGY CLUBS AND STUDENT INDEPENDENT PROJECTS. FURTHER USE OF THE COLLECTIONS BY STUDENTS WITH AN INTEREST IN ARCHAEOLOGY AND ANTHROPOLOGY TAKES PLACE AS STUDENT INDEPENDENT PROJECTS.
SCHEDULE D, PART V, LINE 3A:	THE ACADEMY IS AN INCOME-ONLY BENEFICIARY OF CERTAIN PERPETUAL TRUSTS WHOSE AGGREGATE MARKET VALUE AT JUNE 30, 2025 WAS $7,869,492
SCHEDULE D, PART V, LINE 4:	ANDOVER'S ENDOWMENT IS A CRITICAL SOURCE OF SUPPORT FOR THE ACADEMY. THE ENDOWMENT COMPRISES A WIDE VARIETY OF FUNDS WITH A WIDE VARIETY OF PURPOSES, INCLUDING UNRESTRICTED FUNDS, AND RESTRICTED FUNDS FOR FINANCIAL AID, FACULTY CHAIRS, THE ADDISON, THE PEABODY AND OTHER SPECIAL INTENTS. TOTALLING $1,472 MILLION AT JUNE 30, 2025, THE ENDOWMENT CURRENTLY SUPPORTS APPROXIMATELY 45.3% OF THE ACADEMY'S BUDGET.
SCHEDULE D, PART X, LINE 2:	THE ACADEMY ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS USING A "MORE LIKELY THAN NOT" THRESHOLD FOR THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES ASSESSED, IF ANY, ARE ACCRUED AS INCOME TAX EXPENSE. THE ACADEMY HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AND ITS CLASSIFICATION OF REVENUES AS RELATED OR UNRELATED AS ITS ONLY TAX POSITIONS; HOWEVER, THE ACADEMY HAS DETERMINED THAT THESE TAX POSITIONS DO NOT RESULT IN UNCERTAINTIES REQUIRING RECOGNITION. THE ACADEMY IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. ITS FEDERAL AND STATE INCOME TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED.
SCHEDULE D, PART XI, LINE 2D:	FINANCIAL AID ($27,188,485) CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $975,481 ------------ TOTAL TO SCHEDULE D, PART XI, LINE 2D: ($26,213,004)
SCHEDULE D, PART XI, LINE 4B:	CHANGE IN BAD DEBT EXPENSE $3,443,756 COST OF GOODS SOLD ($2,654) ------------ TOTAL TO SCHEDULE D, PART XI, LINE 4B $3,441,102
SCHEDULE D, PART XII, LINE 2D:	COST OF GOODS SOLD $2,654 ------------ TOTAL TO SCHEDULE D, PART XII, LINE 2D $2,654
SCHEDULE D, PART XII, LINE 4B:	FINANCIAL AID $27,188,485 ------------ TOTAL TO SCHEDULE D, PART XII, LINE 4B $27,188,485

Schedule E IRS990ScheduleE

Field	Value	IRS element (for citing)
Nondiscriminatory Policy Stmt	Yes (true)	NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures Etc	Yes (true)	PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast Media	false	PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp Recs	Yes (true)	MaintainRacialCompRecsInd
Maintain Scholarships Recs	Yes (true)	MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures Etc	Yes (true)	MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All Sol	Yes (true)	MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts	false	DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy	false	DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty	false	DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs	false	DiscriminateRaceSchsInd
Discriminate Race Educ Plcy	false	DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts	false	DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog	false	DiscriminateRaceAthltProgInd
Discriminate Race Other Acty	false	DiscriminateRaceOtherActyInd
Government Financial Aid Rcvd	false	GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd	false	GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550	Yes (true)	ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE E, PART I, LINE 3:	FormAndLineReferenceDesc
Explanation	PHILLIPS ACADEMY'S NON-DISCRIMINATION POLICY APPEARS ON ITS PUBLIC FACING WEBSITE, WWW.ANDOVER.EDU, AND IS ALSO INCLUDED IN THE SCHOOL CATALOG, WHICH IS ALSO AVAILABLE FREE-OF-CHARGE THROUGH THE WEBSITE. THE TEXT OF THIS POLICY IS AS FOLLOWS: PHILLIPS ACADEMY ADMITS QUALIFIED STUDENTS OF ANY RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, SEX, GENDER IDENTITY OR EXPRESSION, RELIGION, SEXUAL ORIENTATION, DISABILITY STATUS, OR ANY OTHER STATUS PROTECTED BY APPLICABLE LAW, AND EXTENDS TO THEM ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. PHILLIPS ACADEMY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, SEX, GENDER IDENTITY OR EXPRESSION, RELIGION, SEXUAL ORIENTATION, DISABILITY STATUS, OR ANY OTHER STATUS PROTECTED BY APPLICABLE LAW, IN THE ADMINISTRATION OF ITS EDUCATIONAL, ADMISSIONS, FINANCIAL AID, ATHLETIC, AND OTHER SCHOOL-ADMINISTERED PROGRAMS.	ExplanationTxt

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (26 entries)

RegionRegionTxt	Type Of Activities ConductedTypeOfActivitiesConductedTxt	Region Total ExpendituresRegionTotalExpendituresAmt	Specific Services ProvidedSpecificServicesProvidedTxt
Central America and the Caribbean	Investments	$633,469,103
Europe (Including Iceland and Greenland)	Investments	$50,562,769
East Asia and the Pacific	Program Services	$71,213	ADMISSION RECRUITING
East Asia and the Pacific	Fundraising	$119,205
East Asia and the Pacific	Program Services	$60,872	OFF-CAMPUS LEARNING
East Asia and the Pacific	Program Services	$8,171	PROGRAM ACTIVITY
East Asia and the Pacific	Program Services	$4,802	PROFESSIONAL DEVELOPMT
Europe (Including Iceland and Greenland)	Program Services	$10,832	ADMISSION RECRUITING
Europe (Including Iceland and Greenland)	Fundraising	$24,331
Europe (Including Iceland and Greenland)	Program Services	$132,032	OFF-CAMPUS LEARNING
Europe (Including Iceland and Greenland)	Program Services	$1,325	CONFERENCE
Europe (Including Iceland and Greenland)	Program Services	$192	ATHLETICS
Europe (Including Iceland and Greenland)	Investments	$12,546
Europe (Including Iceland and Greenland)	Program Services	$14,402	PROFESSIONAL DEVELOPMT
North America	Program Services	$7,277	ADMISSION RECRUITING
North America	Program Services	$26	PROFESSIONAL DEVELOPMT
North America	Program Services	$883	CONFERENCE
North America	Program Services	$881	ART EXHIBITION
Middle East and North Africa	Program Services	$770	ADMISSION RECRUITING
Middle East and North Africa	Fundraising	$5,659
Middle East and North Africa	Program Services	$72,024	OFF-CAMPUS LEARNING
Sub-Saharan Africa	Program Services	$2,424	OFF-CAMPUS LEARNING
South America	Program Services	$109,154	OFF-CAMPUS LEARNING
South Asia	Program Services	$12,106	ADMISSION RECRUITING
South Asia	Program Services	$100	OFF-CAMPUS LEARNING
Central America and the Caribbean	Program Services	$276	PROFESSIONAL DEVELOPMT

Field	Value	IRS element (for citing)
Subtotal Offices	0	SubtotalOfficesCnt
Subtotal Employees	0	SubtotalEmployeesCnt
Continuation Total Office	0	ContinuationTotalOfficeCnt
Continuation Total Employee	0	ContinuationTotalEmployeeCnt
Total Office	0	TotalOfficeCnt
Total Employee	0	TotalEmployeeCnt
Subtotal Spent	$684,499,981	SubtotalSpentAmt
Continuation Spent	$203,394	ContinuationSpentAmt
Total Spent	$684,703,375	TotalSpentAmt
Transfer To Foreign Corp	Yes (true)	TransferToForeignCorpInd
Interest In Foreign Trust	false	InterestInForeignTrustInd
Foreign Corp Ownership	Yes (true)	ForeignCorpOwnershipInd
Passive Foreign Investmest Co	Yes (true)	PassiveForeignInvestmestCoInd
Foreign Partnership	Yes (true)	ForeignPartnershipInd
Boycott Countries	false	BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE F, PART I, LINE 3:	FormAndLineReferenceDesc
Explanation	THE ORGANIZATION IDENTIFIES THE EXPENSES DISCLOSED ON PART I BY REVIEWING ITS EXPENSE REPORTING SOFTWARE AND ITS GENERAL LEDGER.	ExplanationTxt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (true)	GrantRecordsMaintainedInd

Recipient Table RecipientTable (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Recipient EINRecipientEIN	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Purpose Of GrantPurposeOfGrantTxt
TOWN OF ANDOVER
36 BARTLETT	ST ANDOVER	MA	01810	046001069	GOVERNMENT	$488,630	SEE PART IV
CITY OF METHUEN
41 PLEASANT	ST METHUEN	MA	01844	046001220	GOVERNMENT	$23,760	SEE PART IV

Field	Value	IRS element (for citing)
Total501c3 Org	2	Total501c3OrgCnt
Total Other Org	0	TotalOtherOrgCnt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (3 entries)

Grant TypeGrantTypeTxt	RecipientRecipientCnt	Non Cash AssistanceNonCashAssistanceAmt	Non Cash AssistanceNonCashAssistanceDesc	Cash GrantCashGrantAmt
FINANCIAL AID 9-MONTH PROGRAM	546	$26,854,426	FINANCIAL AID
OTHER AID TO 9-MONTH PROGRAM STUDENTS	546	$2,258,635	SEE PART IV	$205,950
FINANCIAL AID SUMMER SESSION	49	$382,736	FINANCIAL AID

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE I, PART I, LINE 2:	MOST AID TO ACADEMY STUDENTS IS IN-KIND IN THE FORM OF TUITION GRANTS AND PAYMENT OF MANDATORY AND OTHER ACADEMY FEES. OTHER NON-CASH AID DISCLOSED IN SCHEDULE I, PART III IS REVIEWED AND APPROVED BY THE ACADEMY'S FINANCIAL AID OFFICE. CASH GRANTS IN PART III ARE STUDENT STIPENDS AND ARE DISBURSED TO STUDENTS BY THE ACADEMY'S FINANCIAL AID OFFICE.
SCHEDULE I, PART II, LINE 1:	UNDER THE TERMS OF AN AGREEMENT BETWEEN THE ACADEMY AND THE TOWN OF ANDOVER ("ANDOVER"), THE ACADEMY MAKES AN ANNUAL VOLUNTARY CONTRIBUTION TO ANDOVER. THE PAYMENT IS NOT RESTRICTED TO ANY PARTICULAR USE BY ANDOVER AND IS MADE WITHOUT CONSIDERATION OF THE TAX STATUS OF ACADEMY PROPERTY.
SCHEDULE I, PART II, LINE 2:	THE ACADEMY ACQUIRED AND DEVELOPED A PARCEL IN THE TOWN OF METHUEN ("METHUEN") THAT IT USES TO FURTHER ITS TAX-EXEMPT PROGRAMS. THE ACADEMY MAKES AN ANNUAL VOLUNTARY PAYMENT TO METHUEN, THE AMOUNT OF WHICH APPROXIMATES THE TAX REVENUE METHUEN DERIVED FROM THE PARCEL BEFORE THE ACADEMY ACQUIRED IT. THE PAYMENT IS NOT RESTRICTED TO ANY PARTICULAR USE BY METHUEN.
SCHEDULE I, PART III:	STATED IN THE ACADEMY'S CONSTITUTION OF 1778, AND REAFFIRMED IN ITS STATEMENT OF PURPOSE, THE SCHOOL IS CHARGED TO EDUCATE "YOUTH FROM EVERY QUARTER." THE ACADEMY PROVIDES ALL ASSISTANCE ON A NON DISCRIMINATORY BASIS AND IN FURTHERANCE OF THE OBJECTIVE OF ATTRACTING A DIVERSE STUDENT BODY. A TOTAL 0F 546 STUDENTS RECEIVED SOME COMPONENT OF THE TOTAL AID DISCLOSED ON LINES 1 AND 2 OF PART III. OTHER NON-CASH ASSISTANCE TO 9-MONTH PROGRAM STUDENTS CONSISTS OF STUDENT TRAVEL TO AND FROM CAMPUS, SPECIALIZED INSTRUCTION AND TUTORING TO INCLUDE MUSIC GRANTS, TECHNOLOGY, TEXTBOOKS, COLLEGE APPLICATIONS, MEDICAL EXPENSES, CLOTHING, LAUNDRY SERVICE, PHONE, ATHLETIC EQUIPMENT, SCHOOL SUPPLIES, PARTICIPATION IN OFF-CAMPUS PROGRAMS AND MISCELLANEOUS PERSONAL EXPENSES.

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
First Class Or Charter Travel	Yes (X)	FirstClassOrCharterTravelInd
Housing Allowance Or Residence	Yes (X)	HousingAllowanceOrResidenceInd
Personal Services	Yes (X)	PersonalServicesInd
Written Policy Ref T And E Expnss	Yes (true)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (true)	SubstantiationRequiredInd
Compensation Committee	Yes (X)	CompensationCommitteeInd
Independent Consultant	Yes (X)	IndependentConsultantInd
Form990 Of Other Organizations	Yes (X)	Form990OfOtherOrganizationsInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	false	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	Yes (true)	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	false	EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org	false	CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs	false	CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org	false	CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs	false	CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments	Yes (true)	AnyNonFixedPaymentsInd
Initial Contract Exception	Yes (true)	InitialContractExceptionInd
Rebuttable Presumption Proc	Yes (true)	RebuttablePresumptionProcInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
AMY PATEL
CHIEF MEDICAL OFFICER	$258,839	$0	$0	$0	$0	$0	$30,278	$0	$175,273	$0	$464,390	$0	$0	$0
ANDREW JAFFONI
ASSOC DIRECTOR OF INVESTMENTS	$272,395	$0	$110,000	$0	$0	$0	$30,692	$0	$14,999	$0	$428,086	$0	$0	$0
CHRISTIAN A REUSCHE
ASSOC DIRECTOR OF INVESTMENTS	$284,800	$0	$150,000	$0	$0	$0	$38,550	$0	$15,094	$0	$488,444	$0	$0	$0
FERNANDO R ALONSO
ASST HEAD OF SCHOOL/CFO	$366,856	$0	$0	$0	$0	$0	$39,792	$0	$86,130	$0	$492,778	$0	$0	$0
JAMES F VENTRE
ASST HEAD OF SCHOOL ADMISSION	$221,112	$0	$0	$0	$0	$0	$24,892	$0	$132,230	$0	$378,234	$0	$0	$0
JESSICA L HERBSTER
GENERAL COUNSEL	$252,686	$0	$0	$0	$0	$0	$25,732	$0	$101,381	$0	$379,799	$0	$0	$0
KIRSTEN A GLANTZ
CHIEF INVESTMENT OFFICER	$497,123	$0	$621,039	$0	$0	$0	$39,792	$0	$47,135	$0	$1,205,089	$0	$0	$0
MERRILEE MARDON
DEP HD OF SCH/INT DEAN FACULTY	$299,928	$0	$0	$0	$0	$0	$31,534	$0	$174,272	$0	$505,734	$0	$0	$0
RAYNARD S KINGTON
HEAD OF SCHOOL / TRUSTEE	$732,895	$0	$0	$0	$175,000	$0	$69,792	$0	$176,938	$0	$1,154,625	$0	$153,125	$0
THOMAS P LOCKERBY
SECRETARY OF THE ACADEMY	$443,311	$0	$0	$0	$100,000	$0	$78,542	$0	$42,945	$0	$664,798	$0	$32,083	$0
XUE YANG
ASSOC DIRECTOR OF INVESTMENTS	$312,353	$0	$60,000	$0	$0	$0	$39,792	$0	$15,538	$0	$427,683	$0	$0	$0
JEFFREY C DOMINA
DEAN OF FACULTY	$129,793	$0	$0	$0	$0	$0	$13,564	$0	$134,228	$0	$277,585	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE J, PART I, LINE 1A:	FIRST CLASS OR CHARTER TRAVEL: CHRISTIAN A. REUSCHE and XUE YANG FLEW FIRST-CLASS TRAVEL FOR A BUSINESS EVENT IN A FOREIGN COUNTRY. THIS IS NOT TAXABLE INCOME TO THEM DUE TO DOCUMENTED BUSINESS PURPOSE. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: FERNANDO R. ALONSO, JEFFREY C. DOMINA, RAYNARD S. KINGTON, MERRILEE MARDON, AMY PATEL, AND JAMES F. VENTRE RECEIVED HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. THE ACADEMY HAS VALUED HOUSING AT 5% OF THE APPRAISED VALUE OF THE HOME AS DETERMINED BY THE ASSESSOR'S OFFICE OF THE TOWN OF ANDOVER, MASSACHUSETTS, WHERE THE ACADEMY IS LOCATED. SUCH AMOUNTS ARE NOT TAXABLE COMPENSATION. PERSONAL SERVICES: IN ADDITION TO HOUSING THE HEAD OF SCHOOL, HIS RESIDENCE IS USED THROUGHOUT THE YEAR FOR NUMEROUS FUNDRAISING EVENTS, PARTIES, MEETINGS, AND OTHER ACADEMY-RELATED GATHERINGS. TIME SPENT BY A HOUSEKEEPER IN THE RESIDENCE IS IDENTIFIED AS EITHER CLEANING OF THE RESIDENCE, WHICH IS ASCRIBED AS INCOME TO THE HEAD OF SCHOOL, OR OF THE PUBLIC SPACE, WHICH IS NOT INCOME TO THE HEAD OF SCHOOL.
SCHEDULE J, PART I, LINE 4B:	IN 2020, RAYNARD S. KINGTON PARTICIPATED IN A DEFERRED COMPENSATION PLAN WITH THE ACADEMY. THIS PLAN PROVIDES THAT A YEARLY CONTRIBUTION WILL BE MADE TO RAYNARD S. KINGTON'S ACCOUNT OVER A 5-YEAR TERM, SUBJECT TO VESTING ON JUNE 2022, 2024, AND 2025. THE CURRENT YEAR DEFERRAL IS INCLUDED IN SCHEDULE J, PART II, COLUMN C. THE AMOUNT VESTED IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). IN 2023, THOMAS P. LOCKERBY PARTICIPATED IN A DEFERRED COMPENSATION PLAN WITH THE ACADEMY. UNDER THIS PLAN, EQUAL ANNUAL CONTRIBUTIONS ARE ALLOCATED TO THOMAS P. LOCKERBY'S ACCOUNT OVER A FOUR-YEAR TERM. THE FIRST TWO ANNUAL ALLOCATIONS VEST AND ARE PAID IN 2024, AND THE REMAINING TWO ANNUAL ALLOCATIONS VEST AND ARE PAID IN 2026. THE CURRENT YEAR DEFERRAL IS INCLUDED IN SCHEDULE J, PART II, COLUMN C. THE AMOUNT VESTED IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III).
SCHEDULE J, PART I, LINE 7:	KIRSTEN A. GLANTZ, XUE YANG, ANDREW JAFFONI, AND CHRISTIAN A. REUSCHE RECEIVED NON-FIXED PAYMENTS APPROVED BY THE COMPENSATION COMMITTEE AND THE AMOUNT OF SUCH BONUSES ARE SHOWN ON SCHEDULE J, PART II, COLUMN B(II).
SCHEDULE J, PART I, LINES 8 AND 9:	RAYNARD S. KINGTON, NEW HEAD OF SCHOOL, HAS AN INITIAL EMPLOYMENT CONTRACT THAT DESCRIBES HIS INITIAL COMPENSATION AND BENEFITS.

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)

Bond ReferenceBondReferenceCd	Bond Issuer EINBondIssuerEIN	CUSIPCUSIPNum	Bond IssuedBondIssuedDt	Issue PriceIssuePriceAmt	PurposePurposeDesc	DefeasedDefeasedInd	On Behalf Of IssuerOnBehalfOfIssuerInd	Pool FinancingPoolFinancingInd
MA DEVELOPMENT FINANCE AGENCY
A	043431814	000000000	2023-12-01	$50,920,000	CONVERT FROM TAXABLE TO TAX-EXEMPT	false	false	false
MA DEVELOPMENT FINANCE AGENCY
B	043431814	57585BCQ9	2024-09-26	$59,905,410	REFUNDING 2003 BONDS	false	false	false

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)

Bond ReferenceBondReferenceCd	RetiredRetiredAmt	Bond DefeasedBondDefeasedAmt	Total ProceedsTotalProceedsAmt	In Reserve FundInReserveFundAmt	Capitalized InterestCapitalizedInterestAmt	Refunding EscrowRefundingEscrowAmt	Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt	Credit EnhancementCreditEnhancementAmt	Working Capital ExpendituresWorkingCapitalExpendituresAmt	Capital ExpendituresCapitalExpendituresAmt	Other Spent ProceedsOtherSpentProceedsAmt	UnspentUnspentAmt	Substantial CompletionSubstantialCompletionYr	Refunding Tax Exempt BondsRefundingTaxExemptBondsInd	Refunding Taxable BondsRefundingTaxableBondsInd	Final Allocation MadeFinalAllocationMadeInd	Adequate Books And Rec MaintAdequateBooksAndRecMaintInd
A	$0	$0	$50,920,000	$0	$0	$0	$227,713	$0	$0	$0	$50,692,287	$0	2023	false	false	Yes (true)	Yes (true)
B	$0	$0	$59,905,410	$0	$0	$0	$644,392	$0	$0	$0	$59,261,018	$0	2024	Yes (true)	false	Yes (true)	Yes (true)

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)

Bond ReferenceBondReferenceCd	Owning Bond Financed PropertyOwningBondFinancedPropertyInd	Any Lease ArrangementsAnyLeaseArrangementsInd	Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd	Any Research AgreementsAnyResearchAgreementsInd	Private Bus Use By OthersPrivateBusUseByOthersPct	Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd	Change In Use Bond Financed PropChangeInUseBondFinancedPropInd	Remedial Action TakenRemedialActionTakenInd	Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd
A	false	false	false	false	0	false	false	false	Yes (true)
B	false	false	false	false	0	false	false	false	Yes (true)

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)

Bond ReferenceBondReferenceCd	Form8038 T FiledForm8038TFiledInd	Rebate Not Due YetRebateNotDueYetInd	Exception To RebateExceptionToRebateInd	No Rebate DueNoRebateDueInd	Variable Rate IssueVariableRateIssueInd	Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd	Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd	Business Name Line1GICProviderName/BusinessNameLine1Txt	Gross Proceeds InvestedGrossProceedsInvestedInd	Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd
0
A	false	Yes (true)	false	false	false	false	false	0	false	Yes (true)
0
B	false	Yes (true)	false	false	false	false	false	0	false	Yes (true)

Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)

Bond ReferenceBondReferenceCd	Procedures Corrective ActionProceduresCorrectiveActionInd
A	Yes (true)
B	Yes (true)

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

Field	Value	IRS element (for citing)
Person	TRACY AINSWORTH	PersonNm

Field	Value	IRS element (for citing)
Relationship Description	FAMILY MEMBER OF KEY EMPLOYEE	RelationshipDescriptionTxt
Transaction	$91,776	TransactionAmt
Transaction	COMPENSATION	TransactionDesc
Sharing Of Revenues	false	SharingOfRevenuesInd

Schedule M IRS990ScheduleM

Works Of Art WorksOfArtGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	866	ContributionCnt
Noncash Contributions Rpt F990	$0	NoncashContributionsRptF990Amt
Method Of Determining Revenues	N/A	MethodOfDeterminingRevenuesTxt

Field	Value	IRS element (for citing)
Art Historical Treasures		ArtHistoricalTreasuresGrp
Art Fractional Interest		ArtFractionalInterestGrp
Books And Publications		BooksAndPublicationsGrp
Clothing And Household Goods		ClothingAndHouseholdGoodsGrp
Cars And Other Vehicles		CarsAndOtherVehiclesGrp
Boats And Planes		BoatsAndPlanesGrp
Intellectual Property		IntellectualPropertyGrp

Securities Publicly Traded SecuritiesPubliclyTradedGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	187	ContributionCnt
Noncash Contributions Rpt F990	$10,847,681	NoncashContributionsRptF990Amt
Method Of Determining Revenues	AVG. OF HIGH/LOW PRI	MethodOfDeterminingRevenuesTxt

Field	Value	IRS element (for citing)
Securities Closely Held Stock		SecuritiesCloselyHeldStockGrp
Secur Prtnrshp Trust Intrsts		SecurPrtnrshpTrustIntrstsGrp
Securities Miscellaneous		SecuritiesMiscellaneousGrp
Qualified Contrib Hist Struct		QualifiedContribHistStructGrp
Qualified Contrib Other		QualifiedContribOtherGrp
Real Estate Residential		RealEstateResidentialGrp
Real Estate Commercial		RealEstateCommercialGrp
Real Estate Other		RealEstateOtherGrp
Collectibles		CollectiblesGrp
Food Inventory		FoodInventoryGrp
Drugs And Medical Supplies		DrugsAndMedicalSuppliesGrp
Taxidermy		TaxidermyGrp
Historical Artifacts		HistoricalArtifactsGrp
Scientific Specimens		ScientificSpecimensGrp
Archaeological Artifacts		ArchaeologicalArtifactsGrp
Form8283 Received	33	Form8283ReceivedCnt
Any Property That Must Be Held	false	AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts	Yes (true)	ReviewProcessUnusualNCGiftsInd
Third Parties Used	false	ThirdPartiesUsedInd

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE M, PART I, COLUMN (B):	THE ACADEMY REPORTS BOTH THE NUMBER OF ITEMS CONTRIBUTED AND NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B).
SCHEDULE M, PART I, LINE 33:	THE ACADEMY REPORTED ZERO VALUE ON FORM 990, PART VIII, STATEMENT OF REVENUE LINE 1G AS PERMITTED UNDER SFAS 116. IT DOES NOT CAPITALIZE THE COLLECTIONS OF THE ADDISON GALLERY OF AMERICAN ART AND THE PEABODY INSTITUTE OF ARCHAEOLOGY.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (10 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART I, LINE 1 & PART III, LINE I:	PHILLIPS ACADEMY IS A COEDUCATIONAL, BOARDING SCHOOL LOCATED IN ANDOVER, MASSACHUSETTS FOR STUDENTS IN GRADES NINE THROUGH TWELVE AND POST-GRADUATES. THE SCHOOL STRIVES TO HELP YOUNG PEOPLE FROM DIVERSE BACKGROUNDS ACHIEVE THEIR POTENTIAL NOT ONLY INTELLECTUALLY, BUT ALSO ARTISTICALLY, ATHLETICALLY AND MORALLY, SO THAT THEY MAY LEAD RESPONSIBLE AND FULFILLING LIVES.
FORM 990, PART III, LINE 4D:	TOTAL OF ALL OTHER PROGRAM SERVICES EXPENSES $1,620,899. INCLUDING GRANTS OF $558,390. REVENUE $39,000. THE INSTITUTE FOR RECRUITMENT OF TEACHERS (IRT) SUPPORTS TALENTED PROSPECTIVE EDUCATORS PREPARING TO JOIN THE NATION'S TEACHING FACULTIES BY RECRUITING OUTSTANDING SCHOLARS COMMITTED TO STUDENT SUCCESS AND TRANSFORMATIVE EDUCATION, COUNSELING THEM THROUGH THE GRADUATE SCHOOL APPLICATION PROCESS, AND ADVOCATING FOR SUFFICIENT FUNDING FOR ADVANCED STUDY. IRT GRADUATES HAVE ENJOYED REMARKEABLE SUCCESS SECURING JOBS AS K-12 TEACHERS, COUNSELORS, AND PRINCIPALS, AS WELL AS PROFESSORS, UNIVERSITY ADMINISTRATORS, AND LEADERS. SINCE 1990, THE IRT HAS BUILT A NATIONAL CONSORTIUM OF COLLEGES AND UNIVERSITIES THAT ARE EAGER TO ENROLL IRT STUDENTS TO DIVERSIFY THEIR GRADUATE STUDENT BODIES AND EXPAND THE PIPELINE OF EDUCATORS TO TEACH, COUNSEL, AND ADMINISTRATE IN AMERICAN SCHOOLS, COLLEGES, AND UNIVERSITIES. IRT URGES ITS STUDENTS TO EARN THEIR ADVANCED DEGREES AND TEACHING CREDENTIALS BEFORE THEY LAUNCH THEIR EDUCATIONAL CAREERS. ANNUALLY, THE IRT ENROLLS OVER 100 TALENTED STUDENTS WHO ARE MAJORING IN THE ARTS, HUMANITIES, SOCIAL SCIENCES, OR EDUCATION, TO ITS ASSOCIATE PROGRAM FOR COLLEGE SENIORS AND GRADUATES WHO WISH TO CONTINUE THEIR EDUCATIONAL STUDIES. SINCE ITS INCEPTION, NEARLY EVERY IRT APPLICANT HAS BEEN ADMITTED TO AT LEAST ONE GRADUATE SCHOOL WITHIN THE IRT CONSORTIUM OF 31 COLLEGES AND UNIVERSITIES; MOST HAVE BEEN ADMITTED TO FOUR OR MORE. APPROXIMATELY 50 PERCENT OF THESE STUDENTS HAVE RECEIVED PARTIAL TO FULL TUITION WAIVERS AND FULL FELLOWSHIP ASSISTANCESHIP FUNDING FOR UP TO SIX YEARS OF GRADUATE STUDY. TO DATE, THE IRT HAS WORKED WITH OVER 2,900 INTERNS AND ASSOCIATES. OF THAT NUMBER, OVER 1,000 PARTICIPANTS HAVE ALREADY RECEIVED TERMINAL MASTER'S DEGREES AND 451 HAVE EARNED PH.D.S. IRT ALUMNI SERVE IN THE ADMINISTRATIVE AND TEACHING RANKS AT OVER 130 COLLEGES AND UNIVERSITIES AS WELL AS NUMEROUS PUBLIC, PRIVATE AND PAROCHIAL SCHOOLS. IN THE COMING DECADES, A NUMBER OF THESE SCHOLARS WILL EMERGE AS EDUCATIONAL LEADERS. ANDOVER BREAD LOAF (ABL), FOUNDED IN 1987, IS BASED ON THE PHILLIPS ACADEMY CAMPUS. A COLLABORATION BETWEEN PHILLIPS ACADEMY AND THE BREAD LOAF SCHOOL OF ENGLISH, MIDDLEBURY COLLEGE'S GRADUATE SCHOOL OF ENGLISH, ABL FOCUSES ITS WORK IN COMMUNITIES WITH HIGH POVERTY RATES AND PARTICULARLY URBAN AREAS IN THE UNITED STATES AND INTERNATIONALLY. ABL WORKS WITH U.S. AND INTERNATIONAL TEACHERS AND STUDENTS TO ENHANCE THE TEACHING AND LEARNING OF WRITING AND TO HELP CATALYZE EDUCATIONAL RENEWAL IN PUBLIC SCHOOL CLASSROOMS, SCHOOLS AND SCHOOL SYSTEMS. TWO SUMMER WORKSHOPS ARE AT THE HEART OF ABL. THE ABL WRITING WORKSHOP IS A PROFESSIONAL DEVELOPMENT WORKSHOP SERVING 15-20 TEACHERS PER SUMMER FROM URBAN SCHOOLS IN THE U.S. THE LAWRENCE STUDENT WRITERS WORKSHOP IS A PROGRAM FOR STUDENTS, ENROLLING 80-90 LAWRENCE, MASSACHUSETTS PUBLIC SCHOOL STUDENTS EVERY SUMMER. IN ADDITION TO THE WORK DONE WITH TEACHERS AND STUDENTS IN THE SUMMER, ABL STAFF WORK YEAR-ROUND TO SUPPORT PROGRAM PARTICIPANTS IN THEIR SCHOOLS AND COMMUNITY ORGANIZATIONS, OFFERING WORKSHOPS, CONFERENCES, AFTER-SCHOOL EVENTS, AND OTHER SIMILAR PROGRAMS. FOUNDED IN 1988, PALS (PHILLIPS ACADEMY - ANDOVER HIGH SCHOOL - LAWRENCE SCHOOLS) IS A NO-COST, ACADEMIC-YEAR AND SUMMER PROGRAM FOR MIDDLE SCHOOL STUDENTS FROM LAWRENCE, MA. PALS OFFERS A FIVE-WEEK SUMMER PROGRAM FOR APPROXIMATELY 44 RISING SEVENTH AND EIGHTH GRADE STUDENTS, PROVIDING PARTICIPANTS WITH ACADEMIC EXPLORATION AND ENRICHMENT OPPORTUNITIES ON THE CAMPUS OF PHILLIPS ACADEMY. THE ACADEMIC-YEAR COMPONENT OFFERS INTERESTED GRADUATES OF PALS THE OPPORTUNITY FOR 1:1 HIGH SCHOOL ADMISSIONS COUNSELING AND PLACEMENT SUPPORT. ACROSS ITS OFFERINGS, PALS AIMS TO PROVIDE PARTICIPATING STUDENTS WITH MENTORSHIP, ACADEMIC SKILL-DEVELOPMENT, AND HIGH SCHOOL TRANSITION SUPPORT IN ORDER FOR THEM TO ACHIEVE FUTURE ACADEMIC SUCCESS.
FORM 990, PART VI, SECTION A, LINE 1A:	THE PHILLIPS ACADEMY BOARD OF TRUSTEES HAS NINETEEN CHARTER TRUSTEES, IDENTIFIED AS MEMBERS OF THE CORPORATION IN THE AMENDED AND RESTATED BY-LAWS OF THE TRUSTEES OF PHILLIPS ACADEMY, AND SIX ALUMNI TRUSTEES. CHARTER TRUSTEES HAVE FULL VOTING PRIVILEGES. ALUMNI TRUSTEES VOTE ON ALL MATTERS EXCEPT THE ELECTIONS OF MEMBERS OF THE CORPORATION, OFFICERS OF THE CORPORATION, AND THE HEAD OF SCHOOL. THE TRUSTEE BY-LAWS EMPOWER THE CORPORATION TO APPOINT AN EXECUTIVE COMMITTEE WITH ALL OF THE POWERS OF THE TRUSTEES EXCEPT AS SPECIFICALLY LIMITED BY THE BOARD. THE EXECUTIVE COMMITTEE IS COMPRISED OF THE BOARD PRESIDENT, THE HEAD OF SCHOOL AND CHAIRPERSONS OF EACH OF THE OTHER STANDING COMMITTEES OF THE BOARD. THE COMMITTEE HAS BEEN DELEGATED ALL OF THE POWERS OF THE TRUSTEES IN CIRCUMSTANCES WHERE THE ENTIRE BOARD IS UNABLE TO CONVENE TO RENDER A DECISION.
FORM 990, PART VI, SECTION A, LINE 8B:	IN ACCORDANCE WITH THE AMENDED AND RESTATED BY-LAWS OF TRUSTEES OF PHILLIPS ACADEMY, ONLY THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE ACADEMY'S GOVERNING BODY, ITS BOARD. THE ACADEMY DOES NOT MAINTAIN MINUTES OF ANY EXECUTIVE COMMITTEE MEETINGS, WHICH ARE RARE, AND GENERALLY CONVENE TO VOTE ON AN ISSUE THAT HAS BEEN DELEGATED TO THIS COMMITTEE BY THE FULL BOARD BECAUSE INSUFFICIENT INFORMATION WAS AVAILABLE AT THE REGULARLY SCHEDULED MEETING OF THE FULL BOARD AND A DECISION IS NEEDED BEFORE THE NEXT SCHEDULED BOARD MEETING. HOWEVER, IF THE EXECUTIVE COMMITTEE UNDERTAKES ANY ACTION, SUCH ACTION IS INCLUDED IN THE MINUTES OF THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD. THE BOARD MEETS AT LEAST THREE TIMES ANNUALLY. ALL BOARD MINUTES ARE APPROVED BY THE BOARD; THEREFORE, APPROVAL OF SUCH MINUTES CONSTITUTES APPROVAL AND ACCEPTANCE OF ANY ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE. THERE WERE NO MATTERS THAT REQUIRED THE EXECUTIVE COMMITTEE TO MEET DURING THE ACADEMY'S 2025 FISCAL YEAR.
FORM 990, PART VI, SECTION B, LINE 11:	FORM 990 WAS PREPARED BY THE ACADEMY'S PAID PREPARER AND THEN REVIEWED INTERNALLY BY TWO SENIOR FINANCIAL MANAGERS. AT ITS SPRING 2026 MEETING THE ACADEMY'S AUDIT COMMITTEE APPROVED THIS FORM 990 IN ITS FINAL FORM. IMMEDIATELY AFTER THE SPRING AUDIT COMMITTEE MEETING, THIS FORM 990 WAS POSTED TO THE BOARD OF TRUSTEES WEB SITE WHERE THEY COULD REVIEW IT BEFORE IT WAS FILED.
FORM 990, PART VI, SECTION B, LINE 12C:	THE ACADEMY HAS TWO SEPARATE CONFLICT OF INTEREST POLICIES. ITS POLICY FOR INTERESTED PERSONS ADDRESSES TRANSACTIONS BETWEEN THE ACADEMY AND ANY CURRENT OR FORMER OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES, ANY OTHER PERSON IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF THE ACADEMY, FAMILY MEMBERS AND OTHER RELATED ENTITIES. THIS POLICY IS DESIGNED TO ELICIT DISCLOSURE OF TRANSACTIONS WHICH WOULD HAVE TO BE INCLUDED IN THE ACADEMY'S FORM 990. AS SUCH, THE THRESHOLDS FOR REPORTING AND DEFINITIONS OF TRANSACTIONS REQUIRED TO BE REPORTED ARE ALIGNED WITH THOSE IN FORM 990. THE ACADEMY ALSO HAS A SECOND POLICY FOR FACULTY, STAFF AND OTHER DECISION MAKERS ACTING ON BEHALF OF THE ACADEMY. WHILE THIS SECOND POLICY ALSO SEEKS TO IDENTIFY AND ADDRESS CONFLICTS, THE INQUIRIES ARE LESS EXTENSIVE THAN THOSE IN THE POLICY FOR INTERESTED PERSONS. ANNUALLY IN THE FALL, THE POLICIES ARE DISTRIBUTED AND ALL RECIPIENTS MUST DISCLOSE IN WRITING ALL POTENTIAL CONFLICTS OF INTEREST. CONFLICTS DISCLOSED ARE ADDRESSED IN ACCORDANCE WITH THE POLICIES, EITHER BY THE TRUSTEE AUDIT COMMITTEE, THE BOARD OF TRUSTEES OR THE CONFLICT OF INTEREST OFFICER, THE ACADEMY'S ASSISTANT HEAD OF SCHOOL FOR OPERATIONS AND FINANCE, CFO. THE POLICIES CLEARLY STATE THAT ALL RECIPIENTS OF THE POLICY ARE OBLIGED THROUGHOUT THE YEAR TO ABIDE BY ITS TERMS AND TO TAKE NO STEPS TO ENTER INTO ANY TRANSACTION WHICH MIGHT GIVE RISE TO A CONFLICT OF INTEREST WITHOUT FIRST DISCLOSING SUCH TRANSACTION TO AND RECEIVING APPROVAL TO ENTER INTO THE TRANSACTION FROM THE CONFLICT OF INTEREST OFFICER. DURING THE YEAR, IF APPROPRIATE, NEWLY-HIRED PERSONNEL ARE REQUIRED TO COMPLETE THE POLICY. DURING THE COURSE OF THE YEAR, IF THE CONFLICT OF INTEREST OFFICER BECOMES AWARE OF POTENTIAL CONFLICTS THROUGH ANY OTHER MEANS, HE INVESTIGATES THE TRANSACTION IN ACCORDANCE WITH THE POLICY AND MAINTAINS RECORDS TO EVIDENCE THE RESULTS OF HIS INVESTIGATION.
FORM 990, PART VI, SECTION B, LINE 15:	COMPENSATION OF THE ACADEMY'S HEAD OF SCHOOL, ITS ASSISTANT HEAD OF SCHOOL FOR OPERATIONS AND FINANCE, CFO, AND ITS KEY EMPLOYEES IS REVIEWED AND APPROVED IN ACCORDANCE WITH THE ACADEMY'S AMENDED AND RESTATED COMPENSATION PHILOSOPHY STATEMENT (THE "STATEMENT"), ADOPTED AT A MEETING OF THE ACADEMY'S BOARD OF TRUSTEES IN JANUARY 2006, WHEREIN THE BOARD DECLARES ITS SUPPORT FOR FULL DISCLOSURE OF ALL EXECUTIVE COMPENSATION AND BENEFITS AS LEGALLY REQUIRED IN IRS FORM 990. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES IS CHARGED WITH IMPLEMENTING THE PHILOSOPHY AND PRACTICES ARTICULATED IN THE STATEMENT. THE STATEMENT REQUIRES THAT: COMPENSATION FOR ITS SENIOR ADMINISTRATORS BE BASED UPON COMPARISONS WITH COMPENSATION AT PEER INSTITUTIONS; ALL COMPENSATION DECISIONS BE BASED UPON ETHICAL CONSIDERATIONS; ALL PARTICIPATING IN COMPENSATION DECISIONS COMPLETE THE ACADEMY'S CONFLICT OF INTEREST STATEMENT AND RECUSE THEMSELVES FROM PARTICIPATION IF THEY HAVE ANY DIRECT OR INDIRECT FINANCIAL INTEREST WITH THE ACADEMY; ALL ACADEMY COMPENSATION PRACTICES ARE TO BE IN ACCORDANCE WITH APPLICABLE LAWS AND ALL BOARD MEMBERS AND THOSE ADMINISTRATORS THAT PARTICIPATE IN DETERMINING COMPENSATION FOR THE ACADEMY'S OFFICERS AND KEY EMPLOYEES BE FAMILIAR WITH INTERNAL REVENUE CODE (IRC) SECTION 4958, WHICH IMPOSES INTERMEDIATE SANCTION PENALTIES FOR EXCESS BENEFIT TRANSACTIONS. ANNUALLY, THE COMPENSATION COMMITTEE REPORTS ITS COMPENSATION DECISIONS TO THE FULL BOARD MEMBERSHIP. THE COMPENSATION COMMITTEE REVIEWS AND APPROVES ALL BASE COMPENSATION ARRANGEMENTS EXCEEDING $150,000 A YEAR, EXCLUDING HOUSING, INCLUDING, IN PARTICULAR, THE HEAD OF SCHOOL'S AND THE ASSISTANT HEAD OF SCHOOL FOR OPERATIONS AND FINANCE, CFO'S COMPENSATION. THE COMPENSATION COMMITTEE REVIEWS APPROPRIATE EXECUTIVE COMPENSATION COMPARABILITY DATA INCLUDING SALARY COMPARISON SURVEYS FROM VARIOUS ENTITIES, INCLUDING BUT NOT LIMITED TO; THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS), THE ASSOCIATION OF BUSINESS OFFICERS OF PREPARATORY SCHOOLS (ABOPS), OTHER INSTITUTIONS' CURRENT 990S, COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA) AND SUMMARIES OF SURVEYS RECEIVED BY THE ACADEMY IN EXCHANGE FOR ITS PARTICIPATION IN THESE SURVEYS. THE COMPENSATION COMMITTEE CONFIRMS WITH THE BOARD THAT FORMAL AND TIMELY PERFORMANCE REVIEWS ARE COMPLETED FOR ALL SENIOR ADMINISTRATORS. THE COMPENSATION COMMITTEE PREPARES AND APPROVES MINUTES OF EACH MEETING, INCLUDING: TERMS AND DATE OF APPROVED COMPENSATION, COMMITTEE MEMBERS PRESENT AND VOTING, THE COMPARABILITY DATA AND THEIR SOURCES AND THE RATIONALE FOR DECISIONS MADE.
FORM 990, PART VI, SECTION C, LINE 18:	THE ACADEMY MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION THROUGH GUIDESTAR.ORG AND THROUGH THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE.
FORM 990, PART VI, SECTION C, LINE 19:	THE ACADEMY DOES NOT GENERALLY MAKE ITS GOVERNING DOCUMENTS AND ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. IT WILL FURNISH ITS FINANCIAL STATEMENTS UPON REQUEST, EITHER VIA EMAIL OR IN HARD COPY THROUGH THE MAIL.
FORM 990, PART XI, LINE 9:	OTHER CHANGES IN NET ASSETS: CHANGE IN BAD DEBT EXPENSE ($3,443,756) CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $975,481 ------------ TOTAL TO FORM 990, PART XI, LINE 9: ($2,468,275)

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

Field	Value	IRS element (for citing)
Business Name Line1	INSTITUTE FOR RECRUITMENT OF TEACHERS	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	180 MAIN STREET	AddressLine1Txt
City	ANDOVER	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	01810	ZIPCd

Field	Value	IRS element (for citing)
Primary Activities	EDUCATION	PrimaryActivitiesTxt
Legal Domicile State	MA	LegalDomicileStateCd
Exempt Code Section	501(C)(3)	ExemptCodeSectionTxt
Public Charity Status	2	PublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

Field	Value	IRS element (for citing)
Business Name Line1	PHILLIPS ACA	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Controlled Organization	Yes (true)	ControlledOrganizationInd

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (3 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Entity TypeEntityTypeTxt	Controlled OrganizationControlledOrganizationInd	Address Line1ForeignAddress/AddressLine1Txt	CityForeignAddress/CityNm	Province Or StateForeignAddress/ProvinceOrStateNm	CountryForeignAddress/CountryCd	Legal Domicile Foreign CountryLegalDomicileForeignCountryCd	Share Of Total IncomeShareOfTotalIncomeAmt	Share Of EOY AssetsShareOfEOYAssetsAmt	OwnershipOwnershipPct
CHARITABLE TRUSTS (33)
180 MAIN STREET	ANDOVER	MA	01810	FUNDRAISING	MA	NA	TRUST	Yes (true)
SOF-VIII INVESTOR IV
				INVESTING		NA	C CORP	Yes (true)	21 THOMAS STREET	BRISTOL	BSI 6JS	UK	UK	-$167,018	$67,259	1.00000
POOLED INCOME FUNDS (2)
180 MAIN STREET	ANDOVER	MA	01810	FUNDRAISING	MA	NA	TRUST	Yes (true)

Field	Value	IRS element (for citing)
Receipt Of Int Annts Rnts Rylts	false	ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org	false	GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org	Yes (true)	GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org	false	LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org	false	LoansOrGuaranteesFromOthOrgInd
Div Related Organization	false	DivRelatedOrganizationInd
Asset Sale To Other Org	false	AssetSaleToOtherOrgInd
Asset Purchase From Other Org	false	AssetPurchaseFromOtherOrgInd
Asset Exchange	false	AssetExchangeInd
Rental Of Facilities To Oth Org	false	RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org	false	RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org	false	PerformOfServicesForOthOrgInd
Perform Of Services By Other Org	false	PerformOfServicesByOtherOrgInd
Sharing Of Facilities	false	SharingOfFacilitiesInd
Paid Employees Sharing	false	PaidEmployeesSharingInd
Reimbursement Paid To Other Org	false	ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org	false	ReimbursementPaidByOtherOrgInd
Transfer To Other Org	false	TransferToOtherOrgInd
Transfer From Other Org	false	TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

Field	Value	IRS element (for citing)
Business Name Line1	CHARITABLE LEAD TRUST - RECEIPT OF TRUST DIST	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Transaction Type	C	TransactionTypeTxt
Involved	$299,950	InvolvedAmt
Method Of Amount Determination	CASH	MethodOfAmountDeterminationTxt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE R, PART IV:	FormAndLineReferenceDesc
Explanation	CHARITABLE TRUSTS ARE LOCATED IN THE FOLLOWING JURISDICTIONS: CA, FL, IL, MA, ME, NC, NV, NY, PA, VA, AND WA.	ExplanationTxt