TRUSTEES OF PHILLIPS ACADEMY: Form 990, tax year 2015

View the entire original 990 at ProPublica ↗

Organization: TRUSTEES OF PHILLIPS ACADEMY (EIN 04-2103579)
Tax period: 2015-07-01 to 2016-06-30
Filed: 2017-05-15
IRS object ID: 201701359349306300
Schema version: 2015v3.0
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 M
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2017-05-15T12:35:29-05:00	ReturnTs
Tax Period End	2016-06-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	PricewaterhouseCoopers LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	101 SEAPORT BLVD SUITE 500	AddressLine1Txt
City	BOSTON	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	02210	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2015-07-01	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	% STEPHEN D CARTER	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	018104161	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	ANDREA T H NIX	PersonNm
Person Title	CFO	PersonTitleTxt
Phone	9787494511	PhoneNum
Signature	2017-05-11	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	ERIN COUTURE	PreparerPersonNm
PTIN	P01390592	PTIN
Phone	6175305000	PhoneNum
Preparation	2017-05-09	PreparationDt

Field	Value	IRS element (for citing)
Tax	2015	TaxYr
Build TS	2021-01-29 14:40:06Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	John G Palfrey	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	180 MAIN STREET	AddressLine1Txt
City	ANDOVER	CityNm
State Abbreviation	MA	StateAbbreviationCd
ZIP	018104161	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$345,417,518	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	22	VotingMembersGoverningBodyCnt
Voting Members Independent	21	VotingMembersIndependentCnt
Total Employee	1066	TotalEmployeeCnt
Total Volunteers	3308	TotalVolunteersCnt
Total Gross UBI	$691,644	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	-$731,019	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$32,550,771	PYContributionsGrantsAmt
CY Contributions Grants	$55,935,894	CYContributionsGrantsAmt
PY Program Service Revenue	$60,310,725	PYProgramServiceRevenueAmt
CY Program Service Revenue	$61,903,307	CYProgramServiceRevenueAmt
PY Investment Income	$56,666,670	PYInvestmentIncomeAmt
CY Investment Income	$30,187,127	CYInvestmentIncomeAmt
PY Other Revenue	$654,076	PYOtherRevenueAmt
CY Other Revenue	$100,290	CYOtherRevenueAmt
PY Total Revenue	$150,182,242	PYTotalRevenueAmt
CY Total Revenue	$148,126,618	CYTotalRevenueAmt
PY Grants And Similar Paid	$19,704,125	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$19,083,687	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$54,019,318	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$57,236,908	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$32,951	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$8,388,569	CYTotalFundraisingExpenseAmt
PY Other Expenses	$45,041,956	PYOtherExpensesAmt
CY Other Expenses	$44,650,796	CYOtherExpensesAmt
PY Total Expenses	$118,798,350	PYTotalExpensesAmt
CY Total Expenses	$120,971,391	CYTotalExpensesAmt
PY Revenues Less Expenses	$31,383,892	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$27,155,227	CYRevenuesLessExpensesAmt
Total Assets BOY	$1,394,826,856	TotalAssetsBOYAmt
Total Assets EOY	$1,364,549,139	TotalAssetsEOYAmt
Total Liabilities BOY	$207,496,632	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$203,545,360	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,187,330,224	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,161,003,779	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	$92,443,263	ExpenseAmt
Grant	$18,307,268	GrantAmt
Revenue	$57,260,732	RevenueAmt
Desc	EDUCATION, 1,131 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 UNDERSTAND THAT "GOODNESS WITHOUT KNOWLEDGE IS WEAK...YET KNOWLEDGE WITHOUT GOODNESS IS DANGEROUS." 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	$2,963,282	ExpenseAmt
Grant	$380,395	GrantAmt
Revenue	$4,579,528	RevenueAmt
Desc	EDUCATION, 574 STUDENTS - SUMMER SESSION: THE SUMMER SESSION OFFERS ITS STUDENTS FIVE WEEKS OF INTENSIVE ACADEMIC AND PERSONAL GROWTH. IT ENCOMPASSES DEMANDING CLASSES, RECREATIONAL AFTERNOON ACTIVITIES, SOCIAL EVENTS, CULTURAL OPPORTUNITIES, AND WELCOMING DORMITORIES THAT PREPARE STUDENTS FOR COLLEGIATE RESIDENTIAL LIFE IN AN ENVIRONMENT DESIGNED FOR THEIR AGE GROUP. IN ADDITION, SUMMER SESSION OFFERS COMPREHENSIVE COLLEGE PROGRAMMING INCLUDING VISITS TO LOCAL COLLEGES AND UNIVERSITIES, A WORKSHOP AND SPEAKER SERIES DESIGNED TO PREPARE STUDENTS FOR THE COLLEGE APPLICATION PROCESS, AND A COLLEGE FAIR WITH REPRENSENTATIVES FROM OVER 70 PRESTIGIOUS INSTITUTIONS. IN KEEPING WITH ONE OF THE ACADEMY'S IDEALS "TO BE A PRIVATE SCHOOL WITH A PUBLIC PURPOSE," SUMMER SESSION STRIVES YEARLY TO INCREASE ITS FINANCIAL AID BUDGET IN ORDER TO OFFER THE EXPERIENCE TO EVER MORE QUALIFIED AND DESERVING APPLICANTS. SUMMER SESSION ALSO WORKS COOPERATIVELY WITH OTHER PROGRAMS SUCH AS MINDS MATTER, THE JACK KENT COOKE FOUNDATION, MEMPHIS PREP, WIGHT SCHOLARS, 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 POPULATE THE CAMPUS DURING THE SUMMER, MAKING SURE THAT THEIR PHYSICAL AND RESIDENTIAL NEEDS ARE MET.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Expense	$717,735	ExpenseAmt
Grant	$3,524	GrantAmt
Desc	EDUCATION, 110 STUDENTS - MATH AND SCIENCE FOR MINORITY STUDENTS (MS) 2: (MS) 2, FOUNDED IN 1977, OFFERS AFRICAN AMERICAN, LATINO AND NATIVE AMERICAN PUBLIC SCHOOL STUDENTS FROM TARGETED REGIONS ACROSS THE UNITED STATES THE OPPORTUNITY TO IMMERSE THEMSELVES IN THE STUDY OF MATHEMATICS AND SCIENCE FOR THREE CONSECUTIVE SUMMERS AT PHILLIPS ACADEMY. THE PROGRAM IS FREE TO ALL STUDENTS ACCEPTED AND INCLUDES TRAVEL TO AND FROM ANDOVER. STUDENTS BEGIN THE PROGRAM THE SUMMER FOLLOWING 9TH GRADE; THEREFORE, THEY MUST BE IN 9TH GRADE WHEN THEY APPLY. THE PROGRAM PROVIDES THE SCHOLARS WITH RIGOROUS CHALLENGES IN ORDER TO PREPARE THEM BETTER FOR COLLEGE AND CAREERS IN ENGINEERING, SCIENCE, MEDICINE, COMPUTERS AND OTHER TECHNICAL FIELDS.	Desc

Field	Value	IRS element (for citing)
Total Other Prog Srvc Expense	$939,356	TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant	$392,500	TotalOtherProgSrvcGrantAmt
Total Other Prog Srvc Revenue	$65,553	TotalOtherProgSrvcRevenueAmt
Total Program Service Expenses	$97,063,636	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
Temp Or Permanent Endowments	Yes (true)	TempOrPermanentEndowmentsInd
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	false	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	false	BusinessRlnWithOfficerEntInd
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	false	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	443	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	1066	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
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	22	GoverningBodyVotingMembersCnt
Independent Voting Member	21	IndependentVotingMemberCnt
Family Or Business Rln	Yes (true)	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	ME	StatesWhereCopyOfReturnIsFldCd
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	STEPHEN D CARTER	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	018104161	ZIPCd

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

Form990 Part VII Section A Form990PartVIISectionAGrp (33 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Key EmployeeKeyEmployeeInd	Highest Compensated EmployeeHighestCompensatedEmployeeInd
JOHN G PALFREY
HEAD OF SCHOOL/TRUSTEE	60.0	0.0	Yes (X)	Yes (X)	$645,012	$0	$185,964
JOSEPH Y BAE
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
ROBERT J CAMPBELL
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
DAVID J CORKINS
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
PETER L S CURRIE
TRUSTEE/PRESIDENT	3.0	0.0	Yes (X)	Yes (X)	$0	$0	$0
LOUIS G ELSON
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
AMY C FALLS
TRUSTEE/TREASURER	3.0	0.0	Yes (X)	Yes (X)	$0	$0	$0
SHELLY D GUYER
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
CHIEN LEE
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
GARY LEE
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
TRISTIN MANNION
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
TAMMY SNYDER MURPHY
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
STEPHEN C SHERRILL
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
JOSHUA L STEINER
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
MISTINA MUSCATEL
ALUMNI TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
REJJI P HAYES
ALUMNI TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
MARJORIE W KING
ALUMNI TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
PETER T HETZLER
ALUMNI TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
ALLISON E PICOTT
ALUMNI TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
TAMARA E ROGERS
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
SCOTT MEAD
TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
LELAND WESTERFIELD
ALUMNI TRUSTEE	3.0	0.0	Yes (X)		$0	$0	$0
STEPHEN D CARTER
CHIEF OPERATING & FIN OFFICER	55.0	0.0		Yes (X)	$263,969	$0	$85,229
MICHAEL REIST
CHIEF INVEST. OFFICER	55.0	0.0			$566,119	$0	$43,217	Yes (X)
THOMAS P LOCKERBY
SECREATARY OF THE ACADEMY	55.0	0.0			$344,336	$0	$59,877	Yes (X)
J LAWRENCE MUENCH
DIRECTOR OF FACILITIES	55.0	0.0			$166,789	$0	$21,789	Yes (X)
PATRICK J FARRELL
DEAN OF FACULTY	55.0	0.0			$154,279	$0	$93,682	Yes (X)
JAMES F VENTRE
DEAN OF ADMIN AND FIN AID	55.0	0.0			$156,686	$0	$94,161	Yes (X)
JUDITH F DOLKART
DIRECTOR, ADDISON GALLERY	55.0	0.0			$176,990	$0	$27,654		Yes (X)
MICHAEL SHAY
DIRECTOR OF INVESTMENTS	55.0	0.0			$376,168	$0	$30,895		Yes (X)
AMY PATEL
MEDICAL DIRECTOR	55.0	0.0			$193,865	$0	$88,357		Yes (X)
DAVID A FLASH
DIRECTOR OF INTL ADVANCEMENT	55.0	0.0			$183,096	$0	$55,944		Yes (X)
DOMINIC VENETO
DIRECTOR OF IT	55.0	0.0			$189,207	$0	$31,644		Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$3,416,516	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$818,413	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	55	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	false	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
PERKINS AND WILL INC
PO BOX 71181	CHICAGO	IL	60694	ARCHITECTS	$2,213,863
MONTICELLO ASSOCIATES
1800 LARIMER ST	DENVER	CO	80202	INVESTMENT ADVISORS	$350,000
BEYER BLINDER BELLE ARCHITECTSPLAN
120 BROADWAY 20TH FLOOR	NEW YORK	NY	10271	ARCHITECTS	$457,837
ARCHITECTURAL RESOURCES CAMBRIDGE
501 BOYLSTON STREET	BOSTON	MA	02116	ARCHITECTS	$313,676
TIMLIN ENTERPRISES INC
225 CEDAR HILL STREET	MARLBOROUGH	MA	01752	INFORMATION TECH	$309,084

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	19	CntrctRcvdGreaterThan100KCnt
Government Grants	$11,500	GovernmentGrantsAmt
All Other Contributions	$55,924,394	AllOtherContributionsAmt
Noncash Contributions	$3,711,048	NoncashContributionsAmt
Total Contributions	$55,935,894	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
TUITION AND FEES	900099	$58,283,768	$58,283,768
HOCKEY RINK	713940	$1,541,296	$1,005,167	$536,129
COURSE PROGRAM & MATERIALS	900099	$979,203	$979,203
FOOD SERVICES	722514	$275,734	$275,734
ALUMNI EVENTS	900099	$179,620	$179,620

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$643,686	TotalRevenueColumnAmt
Related Or Exempt Func Income	$643,686	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$61,903,307	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$5,320,520	TotalRevenueColumnAmt
Unrelated Business Revenue	-$1,038,829	UnrelatedBusinessRevenueAmt
Exclusion	$6,359,349	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	$222,144,340	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$197,277,733	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$24,866,607	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$24,866,607	TotalRevenueColumnAmt
Unrelated Business Revenue	$1,096,560	UnrelatedBusinessRevenueAmt
Exclusion	$23,770,047	ExclusionAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

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

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	$15,673	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$13,167	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$2,506	TotalRevenueColumnAmt
Related Or Exempt Func Income	$2,506	RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
CHILD CARE CENTER	624410	$63,894	$63,894
COURTS & CAGE	713940	$27,000	$27,000
OTHER INCOME	900099	$6,890	$6,890

Field	Value	IRS element (for citing)
Other Revenue Total	$97,784	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$148,126,618	TotalRevenueColumnAmt
Related Or Exempt Func Income	$61,369,684	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$691,644	UnrelatedBusinessRevenueAmt
Exclusion	$30,129,396	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$343,500	TotalAmt
Program Services	$343,500	ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$18,740,187	TotalAmt
Program Services	$18,740,187	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	$2,959,666	TotalAmt
Program Services	$357,602	ProgramServicesAmt
Management And General	$1,869,807	ManagementAndGeneralAmt
Fundraising	$732,257	FundraisingAmt

Comp Disqual Persons CompDisqualPersonsGrp

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

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$41,451,976	TotalAmt
Program Services	$32,605,466	ProgramServicesAmt
Management And General	$5,430,292	ManagementAndGeneralAmt
Fundraising	$3,416,218	FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$4,975,532	TotalAmt
Program Services	$3,849,359	ProgramServicesAmt
Management And General	$716,910	ManagementAndGeneralAmt
Fundraising	$409,263	FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$4,456,088	TotalAmt
Program Services	$3,542,447	ProgramServicesAmt
Management And General	$523,331	ManagementAndGeneralAmt
Fundraising	$390,310	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$3,393,646	TotalAmt
Program Services	$2,578,049	ProgramServicesAmt
Management And General	$499,696	ManagementAndGeneralAmt
Fundraising	$315,901	FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

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

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$311,216	TotalAmt
Management And General	$311,216	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$133,665	TotalAmt
Management And General	$133,665	ManagementAndGeneralAmt

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	$0	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$1,445,711	TotalAmt
Management And General	$1,445,711	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$371,132	TotalAmt
Program Services	$203,566	ProgramServicesAmt
Management And General	$158,285	ManagementAndGeneralAmt
Fundraising	$9,281	FundraisingAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$300,097	TotalAmt
Program Services	$300,097	ProgramServicesAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$4,529,102	TotalAmt
Program Services	$2,719,815	ProgramServicesAmt
Management And General	$964,299	ManagementAndGeneralAmt
Fundraising	$844,988	FundraisingAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$459,432	TotalAmt
Program Services	$229,716	ProgramServicesAmt
Management And General	$137,830	ManagementAndGeneralAmt
Fundraising	$91,886	FundraisingAmt

Royalties RoyaltiesGrp

Field	Value	IRS element (for citing)
Total	$48,290	TotalAmt
Program Services	$48,290	ProgramServicesAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$4,056,056	TotalAmt
Program Services	$3,589,199	ProgramServicesAmt
Management And General	$398,800	ManagementAndGeneralAmt
Fundraising	$68,057	FundraisingAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$861,567	TotalAmt
Program Services	$550,552	ProgramServicesAmt
Management And General	$60,415	ManagementAndGeneralAmt
Fundraising	$250,600	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	$276,308	TotalAmt
Program Services	$186,938	ProgramServicesAmt
Management And General	$22,533	ManagementAndGeneralAmt
Fundraising	$66,837	FundraisingAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$6,077,136	TotalAmt
Program Services	$4,336,687	ProgramServicesAmt
Management And General	$1,067,187	ManagementAndGeneralAmt
Fundraising	$673,262	FundraisingAmt

Payments To Affiliates PaymentsToAffiliatesGrp

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

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$7,955,554	TotalAmt
Program Services	$6,656,608	ProgramServicesAmt
Management And General	$1,116,983	ManagementAndGeneralAmt
Fundraising	$181,963	FundraisingAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$832,155	TotalAmt
Program Services	$696,170	ProgramServicesAmt
Management And General	$102,315	ManagementAndGeneralAmt
Fundraising	$33,670	FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	FundraisingFundraisingAmt
REPLACEMENT & RENEWAL	$4,459,050	$4,459,050
FOOD SERVICE	$3,138,519	$3,138,519
INSTRUCTION	$3,139,287	$3,139,287
OFFICE OF ACADEMY RESOURCES	$903,278		$903,278

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$5,353,241	TotalAmt
Program Services	$4,792,532	ProgramServicesAmt
Management And General	$559,911	ManagementAndGeneralAmt
Fundraising	$798	FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$120,971,391	TotalAmt
Program Services	$97,063,636	ProgramServicesAmt
Management And General	$15,519,186	ManagementAndGeneralAmt
Fundraising	$8,388,569	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$23,809,725	BOYAmt
EOY	$25,098,289	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$11,050,936	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$36,515,344	BOYAmt
EOY	$53,765,929	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$2,145,618	BOYAmt
EOY	$2,524,398	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	$440,605	BOYAmt
EOY	$307,180	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$592,686	BOYAmt
EOY	$584,546	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$3,549,812	BOYAmt
EOY	$2,974,488	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$369,662,311	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$108,101,026	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$250,706,593	BOYAmt
EOY	$261,561,285	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$147,414,078	BOYAmt
EOY	$118,058,142	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$878,937,112	BOYAmt
EOY	$869,892,322	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$34,852	BOYAmt
EOY	$10,711	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	$50,680,431	BOYAmt
EOY	$18,720,913	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,394,826,856	BOYAmt
EOY	$1,364,549,139	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$15,657,104	BOYAmt
EOY	$11,210,987	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	$18,612,486	BOYAmt
EOY	$15,633,103	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$141,080,000	BOYAmt
EOY	$142,750,719	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	$0	BOYAmt
EOY	$0	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$32,147,042	BOYAmt
EOY	$33,950,551	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$207,496,632	BOYAmt
EOY	$203,545,360	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$376,856,696	BOYAmt
EOY	$353,474,918	EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$470,088,152	BOYAmt
EOY	$451,620,118	EOYAmt

Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$340,385,376	BOYAmt
EOY	$355,908,743	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,187,330,224	BOYAmt
EOY	$1,161,003,779	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,394,826,856	BOYAmt
EOY	$1,364,549,139	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$27,155,227	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	-$45,929,346	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	-$7,552,326	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	$46,114,578	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$30,632,966	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$25,658,271	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$32,550,771	CurrentTaxYearMinus1YearAmt
Current Tax Year	$55,935,894	CurrentTaxYearAmt
Total	$190,892,480	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	$46,114,578	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$30,632,966	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$25,658,271	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$32,550,771	CurrentTaxYearMinus1YearAmt
Current Tax Year	$55,935,894	CurrentTaxYearAmt
Total	$190,892,480	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$11,831,158	SubstantialContributorsTotAmt
Public Support Total170	$179,061,322	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$4,848,711	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$5,192,833	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$11,422,342	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$8,455,839	CurrentTaxYearMinus1YearAmt
Current Tax Year	$5,384,414	CurrentTaxYearAmt
Total	$35,304,139	TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$0	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$0	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$0	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$0	CurrentTaxYearMinus1YearAmt
Current Tax Year	$0	CurrentTaxYearAmt
Total	$0	TotalAmt

Other Income170 OtherIncome170Grp

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

Field	Value	IRS element (for citing)
Total Support	$226,196,619	TotalSupportAmt
Gross Receipts Rltd Activities	$287,757,104	GrossReceiptsRltdActivitiesAmt
Public Support CY170	0.79162	PublicSupportCY170Pct
Public Support PY170	0.81764	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	$1,015,875,027	BeginningYearBalanceAmt
Contributions	$20,924,556	ContributionsAmt
Investment Earnings Or Losses	-$18,216,738	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$11,566,067	GrantsOrScholarshipsAmt
Other Expenditures	$28,435,706	OtherExpendituresAmt
End Year Balance	$978,581,072	EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,002,653,135	BeginningYearBalanceAmt
Contributions	$22,812,025	ContributionsAmt
Investment Earnings Or Losses	$29,292,721	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$11,446,610	GrantsOrScholarshipsAmt
Other Expenditures	$27,436,244	OtherExpendituresAmt
End Year Balance	$1,015,875,027	EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$868,803,535	BeginningYearBalanceAmt
Contributions	$24,196,911	ContributionsAmt
Investment Earnings Or Losses	$143,301,506	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$9,525,902	GrantsOrScholarshipsAmt
Other Expenditures	$24,122,915	OtherExpendituresAmt
End Year Balance	$1,002,653,135	EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$787,015,333	BeginningYearBalanceAmt
Contributions	$19,147,421	ContributionsAmt
Investment Earnings Or Losses	$104,817,883	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$12,381,257	GrantsOrScholarshipsAmt
Other Expenditures	$29,795,845	OtherExpendituresAmt
End Year Balance	$868,803,535	EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$805,549,086	BeginningYearBalanceAmt
Contributions	$23,590,616	ContributionsAmt
Investment Earnings Or Losses	-$334,285	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$11,297,472	GrantsOrScholarshipsAmt
Other Expenditures	$30,492,612	OtherExpendituresAmt
End Year Balance	$787,015,333	EndYearBalanceAmt

Field	Value	IRS element (for citing)
Board Designated Balance EOY	0.26170	BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY	0.73830	PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY	0.00000	TermEndowmentBalanceEOYPct
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	$1,457,175	OtherCostOrOtherBasisAmt
Book Value	$1,457,175	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$335,274,299	OtherCostOrOtherBasisAmt
Depreciation	$95,887,742	DepreciationAmt
Book Value	$239,386,557	BookValueAmt

Field	Value	IRS element (for citing)
Leasehold Improvements		LeaseholdImprovementsGrp

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$7,789,867	OtherCostOrOtherBasisAmt
Depreciation	$3,727,689	DepreciationAmt
Book Value	$4,062,178	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$25,140,970	OtherCostOrOtherBasisAmt
Depreciation	$8,485,595	DepreciationAmt
Book Value	$16,655,375	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$261,561,285	TotalBookValueLandBuildingsAmt
Financial Derivatives		FinancialDerivativesGrp
Closely Held Equity Interests		CloselyHeldEquityInterestsGrp

Other Securities OtherSecuritiesGrp (8 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
PRIV REAL ASSTS/ABSLT RTN/OTHR	$140,663,054	F
CASH AND CASH EQUIVALENTS	$9,511,500	F
DOMESTIC EQUITIES	$15,491,611	F
INTERNATIONAL EQUITIES	$165,075,471	F
HEDGE FUNDS	$247,578,751	F
PRIVATE EQTY & VENTURE CAPITAL	$212,009,167	F
REAL ESTATE	$37,011,869	F
DOMESTIC FIXED INCOME	$42,550,899	F

Field	Value	IRS element (for citing)
Total Book Value Securities	$869,892,322	TotalBookValueSecuritiesAmt
Federal Income Tax Liability	$0	FederalIncomeTaxLiabilityAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDesc	AmtAmt
ASSET RETIREMENT OBLIGATION	$1,662,582
INTEREST RATE SWAPS	$19,231,364
LIABILITY FOR SPLIT-INTEREST G	$13,056,605

Field	Value	IRS element (for citing)
Total Liability	$33,950,551	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$79,911,035	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	-$45,929,346	NetUnrealizedGainsInvstAmt
Other Revenue	-$20,628,724	OtherRevenueAmt
Revenue Not Reported	-$66,558,070	RevenueNotReportedAmt
Revenue Subtotal	$146,469,105	RevenueSubtotalAmt
Other Revenues Not Included	$1,657,513	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$1,657,513	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$148,126,618	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$106,429,249	TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included	$5,128,547	OtherExpensesIncludedAmt
Expenses Not Reported	$5,128,547	ExpensesNotReportedAmt
Expenses Subtotal	$101,300,702	ExpensesSubtotalAmt
Investment Expenses Not Incld2	$2,084,228	InvestmentExpensesNotIncld2Amt
Other Expenses Not Included	$17,586,461	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$19,670,689	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$120,971,391	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (9 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE D, PART III, LINE 1A:	THE ACADEMY RECORDS GIFTS OF SECURITIES AND OTHER NON-CASH ASSETS AT FAIR VALUE AT THE DATE OF CONTRIBUTION, WITH THE EXCEPTION OF ADDITIONS TO THE ACADEMY'S COLLECTIONS OF ART, ARTIFACTS, ANTIQUES, AND RARE BOOKS. THE ACADEMY DOES NOT CAPITALIZE ITS COLLECTIONS; THEREFORE, GIFTS OR ADDITIONS TO THE COLLECTIONS ARE NOT REFLECTED IN THE ACADEMY'S FINANCIAL STATEMENTS. THE ACADEMY'S COLLECTIONS COMPRISE PRIMARILY THOSE OF ITS TWO MUSEUMS, THE ADDISON GALLERY OF AMERICAN ART AND THE ROBERT S. PEABODY MUSEUM OF ARCHAEOLOGY. OPEN AND FREE TO THE PUBLIC, BOTH ARE ACADEMIC MUSEUMS THAT SERVE AS RESOURCES FOR ACADEMY STUDENTS, STUDENTS FROM SURROUNDING COMMUNITIES AND THE GENERAL PUBLIC. THE COLLECTION OF THE ADDISON GALLERY OF AMERICAN ART INCLUDES MORE THAN 17,000 WORKS OF ART AND IS RECOGNIZED AS A WORLD-CLASS CENTER OF AMERICAN ART. THE ROBERT S. PEABODY MUSEUM OF ARCHAEOLOGY IS ONE OF THE NATION'S MAJOR REPOSITORIES OF NATIVE AMERICAN ARTIFACTS CONTAINING MORE THAN 500,000 OBJECTS, REPRESENTING NEARLY EVERY INDIGENOUS CULTURE IN NORTH AMERICA.
SCHEDULE D, PART III, LINE 4:	THE ACADEMY MAINTAINS THE ADDISON GALLERY OF AMERICAN ART (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 ROBERT S. PEABODY MUSEUM OF ARCHAEOLOGY (THE "PEABODY") 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 WITH THE BIOLOGY DEPARTMENT, 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 SENIOR 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, 2016 WAS $5,774,752.
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 GALLERY, THE PEABODY MUSEUM AND OTHER SPECIAL INTENTS. TOTALLING $979 MILLION AT JUNE 30, 2016, THE ENDOWMENT CURRENTLY SUPPORTS APPROXIMATELY 37% 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 REVENUE AS RELATED OR UNRELATED AS A TAX POSITION; HOWEVER, THE ACADEMY HAS DETERMINED THAT THIS TAX POSITION DOES 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 (17,586,461) CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS (958,035) INVESTMENT EXPENSE (2,084,228) --------------- TOTAL TO SCHEDULE D, PART XI, LINE 2D: (20,628,724)
SCHEDULE D, PART XI, LINE 4B:	CHANGE IN BAD DEBT EXPENSE 1,676,469 COST OF GOODS SOLD (18,956) ------------------- TOTAL TO SCHEDULE D, PART XI, LINE 4B 1,657,513
SCHEDULE D, PART XII, LINE 2D:	UNREALIZED GAIN ON SWAP MARKET VALUE 5,109,591 COST OF GOODS SOLD 18,956 -------------- TOTAL TO SCHEDULE D, PART XII, LINE 2D 5,128,547
SCHEDULE D, PART XII, LINE 4B:	FINANCIAL AID 17,586,461 -------------- TOTAL TO SCHEDULE D, PART XII, LINE 4B 17,586,461

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	Yes (true)	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	Yes (true)	GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd	false	GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550	Yes (true)	ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

SCHEDULE E, PART I, LINE 3:

PHILLIPS ACADEMY'S NON-DISCRIMINATION POLICY IS STATED ON PAGE 1 OF THE 2015 - 2016 SCHOOL CATALOG. THE TEXT OF THIS NOTICE IS AS FOLLOWS: PHILLIPS ACADEMY ADMITS STUDENTS OF ANY GENDER, RACE, COLOR, HANDICAPPED STATUS, SEXUAL ORIENTATION, RELIGION, AND NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF GENDER, RACE, COLOR, HANDICAPPED STATUS,SEXUAL ORIENTATION, RELIGION, OR NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSION POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS.

SCHEDULE E, PART I, LINE 6:

STATE: ADDISON GALLERY A MASSACHUSETTS CULTURAL COUNCIL: $11,500 TOTAL GOVERNMENT CONTRIBUTIONS (GRANTS): $11,500

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (12 entries)

RegionRegionTxt	Type Of Activities ConductedTypeOfActivitiesConductedTxt	Specific Services ProvidedSpecificServicesProvidedTxt	Region Total ExpendituresRegionTotalExpendituresAmt
East Asia and the Pacific	Program Services	OFF-CAMPUS LEARNING	$176,734
Europe (Including Iceland and Greenland)	Program Services	OFF-CAMPUS LEARNING	$129,444
South America	Program Services	OFF-CAMPUS LEARNING	$51,649
Russia and the Newly Independent States	Program Services	OFF-CAMPUS LEARNING	$22,371
Central America and the Caribbean	Investments		$239,146,752
Europe (Including Iceland and Greenland)	Investments		$4,123,411
East Asia and the Pacific	Investments		$95,205
Europe (Including Iceland and Greenland)	Fundraising		$20,937
Central America and the Caribbean	Program Services	OFF-CAMPUS LEARNING	$10,180
South Asia	Program Services	OFF-CAMPUS LEARNING	$190,852
North America	Program Services	OFF-CAMPUS LEARNING	$15,595
Sub-Saharan Africa	Program Services	OFF-CAMPUS LEARNING	$180,482

Field	Value	IRS element (for citing)
Subtotal Spent	$244,163,612	SubtotalSpentAmt
Total Spent	$244,163,612	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 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	$312,000	SEE PART IV
CITY OF METHUEN
41 PLEASANT ST	METHUEN	MA	01844	046001220	GOVERNMENT	$31,500	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 (4 entries)

Grant TypeGrantTypeTxt	RecipientRecipientCnt	Non Cash AssistanceNonCashAssistanceAmt	Non Cash AssistanceNonCashAssistanceDesc	Cash GrantCashGrantAmt
FINANCIAL AID 9-MONTH PROGRAM	489	$17,236,066	FINANCIAL AID
OTHER AID TO 9-MONTH PROGRAM STUDENTS	489	$761,403	SEE PART IV	$220,287
TUITION REMISSION FACULTY CHILDREN OFF CAMPUS	4	$93,036	SEE PART IV
FINANCIAL AID SUMMER SESSION	70	$380,395	FINANCIAL AID	$49,000

Supplemental Information Detail SupplementalInformationDetail (3 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 REMISSION AND PAYMENT OF MANDATORY AND OTHER ACADEMY FEES. OTHER NON-CASH AID DISCLOSED IN SCHEDULE I, PART III IS MONITORED THROUGH THE USE OF THE ACADEMY'S STUDENT DEBIT CARD OR STORE VOUCHERS, WHICH ARE RECEIPTED. CASH GRANTS IN PART III ARE STUDENT STIPENDS AND ARE DISBURSED DIRECTLY TO STUDENT BANK ACCOUNTS OR ARE PROVIDED DIRECTLY BY THE ACADEMY'S FINANCIAL AID OFFICE IN CASE OF EMERGENCY.
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 489 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)
Housing Allowance Or Residence	Yes (X)	HousingAllowanceOrResidenceInd
Personal Services	Yes (X)	PersonalServicesInd
Written Policy Ref T And E Expnss	false	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	false	InitialContractExceptionInd

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
JOHN G PALFREY
HEAD OF SCHOOL/TRUSTEE	$385,184	$0	$0	$0	$259,828	$0	$109,148	$0	$76,816	$0	$830,976	$0	$150,000	$0
STEPHEN D CARTER
CHIEF OPERATING & FIN OFFICER	$263,969	$0	$0	$0	$0	$0	$30,895	$0	$54,334	$0	$349,198	$0	$0	$0
MICHAEL REIST
CHIEF INVEST. OFFICER	$381,119	$0	$185,000	$0	$0	$0	$30,895	$0	$12,322	$0	$609,336	$0	$0	$0
THOMAS P LOCKERBY
SECREATARY OF THE ACADEMY	$344,336	$0	$0	$0	$0	$0	$30,895	$0	$28,982	$0	$404,213	$0	$0	$0
J LAWRENCE MUENCH
DIRECTOR OF FACILITIES	$166,789	$0	$0	$0	$0	$0	$18,443	$0	$3,346	$0	$188,578	$0	$0	$0
PATRICK J FARRELL
DEAN OF FACULTY	$154,279	$0	$0	$0	$0	$0	$18,032	$0	$75,650	$0	$247,961	$0	$0	$0
JAMES F VENTRE
DEAN OF ADMIN AND FIN AID	$156,686	$0	$0	$0	$0	$0	$17,983	$0	$76,178	$0	$250,847	$0	$0	$0
JUDITH F DOLKART
DIRECTOR, ADDISON GALLERY	$176,990	$0	$0	$0	$0	$0	$19,422	$0	$8,232	$0	$204,644	$0	$0	$0
MICHAEL SHAY
DIRECTOR OF INVESTMENTS	$226,168	$0	$150,000	$0	$0	$0	$30,895	$0	$0	$0	$407,063	$0	$0	$0
AMY PATEL
MEDICAL DIRECTOR	$193,865	$0	$0	$0	$0	$0	$22,327	$0	$66,030	$0	$282,222	$0	$0	$0
DAVID A FLASH
DIRECTOR OF INTL ADVANCEMENT	$183,096	$0	$0	$0	$0	$0	$20,144	$0	$35,800	$0	$239,040	$0	$0	$0
DOMINIC VENETO
DIRECTOR OF IT	$169,207	$0	$20,000	$0	$0	$0	$21,252	$0	$10,392	$0	$220,851	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE J, PART I, LINE 1A:	HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: JOHN G. PALFREY, STEPHEN D. CARTER, PATRICK J. FARRELL, JAMES F. VENTRE, AND AMY PATEL 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: THE RESIDENCE OF THE HEAD OF SCHOOL IS USED THROUGHOUT THE YEAR FOR NUMEROUS FUNDRAISING EVENTS, PARTIES, MEETINGS AND OTHER ACADEMY-RELATED GATHERINGS. A HOUSEKEEPER CLEANS THE RESIDENCE. THE SERVICE IS ALLOCATED BASED UPON PUBLIC VERSUS PRIVATE SPACE IN THE RESIDENCE. CLEANING OF THE PRIVATE SPACE IS INCLUDED IN THE HEAD OF SCHOOL'S TAXABLE COMPENSATION.
SCHEDULE J, PART I, LINE 4B:	DURING CALENDAR YEAR 2015, MR. PALFREY VESTED IN A DEFERRED COMPENSATION PLAN. UNDER THE TERMS OF THE PLAN HE RECEIVED A PAYMENT WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). AMOUNTS PREVIOUSLY ACCRUED UNDER THE PLAN AND INCLUDED IN SCHEDULE J, PART II, COLUMN (C) IN PRIOR YEARS ARE INCLUDED IN SCHEDULE J, PART II, COLUMN(F). IN JUNE 2015, MR. PALFREY ENTERED INTO A NEW DEFERRED COMPENSATION PLAN WITH THE ACADEMY. THIS PLAN PROVIDES THAT A YEARLY CONTRIBUTION WILL BE MADE TO MR. PALFREY'S ACCOUNT SUBJECT TO VESTING THROUGH JUNE 30, 2018. THE CREDIT FOR CALENDAR YEAR 2015 IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C).
SCHEDULE J, PART I, LINE 7:	MR. REIST, MR. SHAY AND MR. VENTO RECEIVED NON-FIXED PAYMENTS APPROVED BY THE COMPENSATION COMMITTEE.

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	57583UZZ4	2014-01-14	$53,875,221	REFUNDING OF 2008 BONDS & CONST.	false	false	false
MA DEVELOPMENT FINANCE AGENCY
B	043431814	57583FL25	2013-02-04	$59,910,000	REFUNDING OF 1993 BONDS & CONST.	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	Current RefundingCurrentRefundingInd	Advance RefundingAdvanceRefundingInd	Final Allocation MadeFinalAllocationMadeInd	Adequate Books And Rec MaintAdequateBooksAndRecMaintInd
A	$0	$0	$53,875,221	$0	$0	$26,620,859	$452,094	$0	$0	$20,033,623	$8,102,688	$1,305	2016	false	Yes (true)	false	Yes (true)
B	$0	$0	$59,910,000	$0	$0	$0	$671,812	$0	$0	$20,013,672	$39,224,516	$0	2004	false	Yes (true)	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	Engage Bond Counsel ContractsEngageBondCounselContractsInd	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	Yes (true)	Yes (true)	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	Term Of HedgeTermOfHedgePct	Superintegrated HedgeSuperintegratedHedgeInd	Hedge TerminatedHedgeTerminatedInd
0
A	false	Yes (true)	false	false	false	false	false	0	false	Yes (true)
MORGAN STANLEY BANK
B	false	Yes (true)	false	Yes (true)	Yes (true)	Yes (true)	false	0	false	Yes (true)	30.6	false	false

Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)

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

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	BOND B	FormAndLineReferenceDesc
Explanation	ARBITRAGE ANALYSIS OPINION LETTER ISSUED ON 01/26/2016 FOR BOND B.	ExplanationTxt

Schedule M IRS990ScheduleM

Works Of Art WorksOfArtGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	185	ContributionCnt
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	189	ContributionCnt
Noncash Contributions Rpt F990	$3,711,048	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	3	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

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE M, PART I, COLUMN (B):	FormAndLineReferenceDesc
Explanation	THE ACADEMY REPORTS THE NUMBER OF ITEMS CONTRIBUTED IN PART I, COLUMN (B). SCHEDULE M, LINE 33: THE ACADEMY REPORTED ZERO VALUE ON FORM 990, PART VII, STATEMENT OF REVENUE LINE 1G AS PERMITTED UNDER SFAS 116. IT DOES NOT CAPITALIZE ITS MUSEUM COLLECTIONS.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (9 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 FULFULLING LIVES.
FORM 990, PART III, LINE 4D:	TOTAL OF ALL OTHER PROGRAM SERVICES EXPENSES $939,356. INCLUDING GRANTS OF $392,500. REVENUE $65,553. THE INSTITUTE FOR RECRUITMENT OF TEACHERS (IRT) ADDRESSES THE LACK OF DIVERSITY IN THE NATION'S TEACHING FACULTIES BY RECRUITING OUTSTANDING STUDENTS OF COLOR AND OTHER SCHOLARS COMMITTED TO DIVERSITY IN EDUCATION, PREPARING THEM FOR THE DEMANDS OF CAREERS IN EDUCATION, COUNSELING THEM THROUGH THE GRADUATE SCHOOL APPLICATION PROCESS, AND ADVOCATING FOR SUFFICIENT FUNDING FOR ADVANCED STUDY. 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 TO 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 APPROXIMATELY 100 TALENTED STUDENTS WHO ARE MAJORING IN THE ARTS, HUMANITIES, SOCIAL SCIENCES, OR EDUCATION, TO ITS TWO DISTINCT PROGRAMS: THE SUMMER WORKSHOP FOR RISING AND GRADUATING COLLEGE SENIORS; AND THE 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 42 COLLEGES AND UNIVERSITIES; MOST HAVE BEEN ADMITTED TO FOUR OR MORE. APPROXIMATELY 90 PERCENT OF THESE STUDENTS HAVE RECEIVED FULL TUITION WAIVERS AND PARTIAL-TO-FULL FELLOWSHIP FUNDING FOR UP TO SIX YEARS OF GRADUATE STUDY. TO DATE, THE IRT HAS WORKED WITH OVER 2000 INTERNS AND ASSOCIATES. OF THAT NUMBER, OVER 900 PARTICIPANTS HAVE ALREADY RECEIVED MASTER'S DEGRESS AND 281 HAVE EARNED PH.D.S. IRT ALUMNI SERVE IN THE ADMINISTRATIVE AND TEACHING RANKS AT OVER 130 COLLEGE 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. PALS, (PHILLIPS ACADEMY - ANDOVER HIGH SCHOOL - LAWRENCE SCHOOLS) IS A TWO-YEAR EDUCATIONAL ENRICHMENT PROGRAM FOR SEVENTH- AND EIGHTH-GRADE STUDENTS FROM LAWRENCE, MA, WHO ARE TEACHER-RECOMMENDED AS ACADEMICALLY CAPABLE, TOP IN THEIR CLASSES IN SCHOOL, AND SELF-MOTIVATED. PALS SERVES UP TO 42 STUDENTS ANNUALLY FROM THE UP-LEONARD, UP-OLIVER AND PARTHUM SCHOOLS. THE PROGRAM OPERATES UNDER THE AUSPICES OF THE ACADEMY'S COMMUNITY ENGAGEMENT PROGRAM DURING THE ACADEMIC YEAR. THE PROGRAM'S AFTER-SCHOOL INSTRUCTION IS PROVIDED BY STUDENT VOLUNTEERS FROM THE ACADEMY AND FROM ANDOVER HIGH SCHOOL. THE SUMMER PROGRAM IS PRIVATELY FUNDED, PROVIDING FOUR WEEKS OF ACADEMIC ENRICHMENT FOR THESE STUDENTS.
FORM 990, PART VI, SECTION A, LINE 1A:	THE PHILIPS ACADEMY BOARD OF TRUSTEES HAS SIXTEEN 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. THE EXECUTIVE COMMITTEE DID NOT MEET DURING THE ACADEMY'S 2016 FISCAL YEAR.
FORM 990, PART VI, SECTION A, LINE 2:	TRUSTEES PETER L.S. CURRIE AND LOUIS G. ELSON HAVE A RELATIONSHIP IN A BUSINESS ENTITY. THE ACADEMY HAS NO RELATIONSHIP WITH THIS ENTITY. 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. THE EXECUTIVE COMMITTEE DID NOT MEET IN FISCAL YEAR 2016.
FORM 990, PART VI, SECTION B, LINE 11:	WORKING WITH A PAID PREPARER, THE RETURN WAS PREPARED PRIMARILY IN THE ACADEMY'S COMPTROLLER'S OFFICE AND THEN REVIEWED INTERNALLY BY TWO SENIOR FINANCIAL MANAGERS. A DRAFT VERSION OF SELECTED SECTIONS OF THIS FORM 990 WAS PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AT ITS FEBRUARY 2017 MEETING FOR PRELIMINARY REVIEW. THE FINAL VERSION OF THIS ENTIRE FORM 990 WAS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE AT ITS MAY 2017 MEETING. IMMEDIATELY AFTER THE MAY AUDIT COMMITTEE MEETING, THIS FORM 990 WAS POSTED TO THE BOARD OF TRUSTEES WEB SITE WHERE THEY COULD REVIEW IT UNTIL THE FILING DATE OF MAY 15, 2017.
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 DEAN OF ADMINISTRATION AND FINANCE. 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, CHIEF OPERATING AND FINANCIAL OFFICER, 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 CHIEF OPERATING AND FINANCIAL OFFICER'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 990'S, 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 VALUE OF SPLIT-INTEREST AGREEMENTS (958,035) UNREALIZED LOSS ON SWAP MARKET VALUE $(5,109,591) CHANGE IN BAD DEBT EXPENSE $(1,676,469) UNREALIZED GAIN ON DEPOSIT WITH TRUSTS $191,769 -------------- TOTAL TO FORM 990, PART XI, LINE 9: $(7,552,326)

Schedule R IRS990ScheduleR

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 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 (35)
180 MAIN STREET	ANDOVER	MA	01810	FUNDRAISING	MA	NA	TRUST	false
SOF-VIII INVESTOR IV
				INVESTING		NA	C CORP	Yes (true)	21 THOMAS STREET	BRISTOL	BSI 6JS	UK	UK	$113,851	$525,446	1.00000

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	false	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	Yes (true)	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	R	TransactionTypeTxt
Involved	$361,744	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: IL, FL, MA, GA, NY, NC, VA, WA, AND CA.	ExplanationTxt