2012-05-14T14:46:41-05:00 2011-06-30 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2010-07-01 020222174 PHILLIPS EXETER ACADEMY PHIL 6037724311 20 MAIN STREET EXETER NH 038332460 CHRISTOPHER V WEJCHERT 2010-04-27 true PRICEWATERHOUSECOOPERS LLP 6175305000 2010 2016-02-24 21:20:13Z THOMAS E HASSAN 20 MAIN STREET EXETER NH 038332460 392396718 false X WWW.EXETER.EDU X 1781 NH SEE SCHEDULE O. 18 17 1213 3340 1599971 12735963 28177981 46184035 47684164 17096785 17149378 1934297 1460267 77951080 94471790 18328074 18776135 0 0 45011226 46730714 0 0 5137641 26417083 32829540 89756383 98336389 -11805303 -3864599 1179439142 1297006603 130250588 125513655 1049188554 1171492948 X SEE SCHEDULE O. false false 79665857 17646891 41456108 SEE SCHEDULE O. 4968452 1129244 5767243 SEE SCHEDULE O. 1460588 1355134 AUXILIARY ENTERPRISES INCLUDE STUDENT GRILL AND GYMSTORE WHICH SERVE STUDENTS DURING BOTH SUMMER AND REGULAR SESSIONS. 86094897 true true false true false false true false true 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2.0 X 0 0 0 THOMAS E HASSAN 38.0 X X 301510 0 121152 CHRISTOPHER V WEJCHERT 38.0 X 93817 0 18934 WILLIAM C DAVISON 38.0 X 197122 0 38849 EDWARD W PROBERT 38.0 X 171814 0 69217 JAY H MARTIN 38.0 X 146784 0 35099 JULIE QUINN 38.0 X 143091 0 25630 JAMES M THEISEN 38.0 X 253930 0 45580 TYLER C TINGLEY 38.0 X 300400 0 36004 JOSEPH FELLOWS 38.0 X 111450 0 23056 1719918 0 413521 28 true true false HARVEY CONSTRUCTION COMPANY 10 HARVEY ROAD BEDFORD NH 03110 CONTRACT SERVICES 3267483 SHAWMUT CONSTRUCTION 5 CAMBRIDGE CENTER CAMBRIDGE MA 02142 ARCHITECTURAL SVCS 2377846 HINTZ HOLMAN ROBILLARD 400 CONNELL DRIVE SUITE 5100 BERKELEY HEIGHTS NJ 07922 INVESTMENT MGMT 1222807 RIST-FROST SHUMWAY ENGINEERING 71 WATER STREET LACONIA NH 03246 ENGINEERING SERVICES 781925 BUILD-IT CONSTRUCTION PO BOX 1610 SALEM NH 03079 CONTRACT SERVICES 546238 25 28177981 2455301 28177981 STUDENT TUITION & FEES 611710 41017474 41017474 AUX. & SUMMER PROGRAMS 611710 6477694 6477694 APPLICATION FEES 611710 112569 112569 PROGRAMMATIC GOVERNMENT GRANTS 611710 76427 76427 47684164 4768729 1407021 3361708 0 0 601825 601825 601825 271624 192950 137251 308421350 1503690 297544392 10876958 1503690 12380649 12380649 0 0 616281 380536 235745 235745 INSURANCE PROCEEDS 524126 373059 373059 MISCELLANEOUS REVENUE 611710 249638 249638 622697 94471790 48578485 1599971 16115353 0 18776135 18776135 0 0 679947 255217 339658 85072 0 33265755 28308392 1929947 3027416 4017881 3483949 207865 326067 6370785 5660178 316376 394231 2396346 2039235 139027 218084 0 242490 242490 228177 228177 0 0 2297731 2297731 1750594 1286301 236223 228070 324618 303732 11103 9783 1641308 1342352 112620 186336 1134286 1006704 57540 70042 0 5827750 5600671 152621 74458 879300 613198 20652 245450 0 692777 565952 86386 40439 1968430 1896668 48240 23522 0 7227955 6946309 189328 92318 795924 539841 224800 31283 STUDENT RELATED EXPENSES 2496964 2394677 102287 FOOD/PROVISIONS 1621755 1621755 PLANT RELATED ACTIVITIES 3478411 3342873 91112 44426 MISCELLANEOUS EXPENSES 118090 53264 51047 13779 MEMBERSHIP DUES 102980 57494 18621 26865 98336389 86094897 7103851 5137641 9339096 5704566 120293228 38737778 49961606 43528377 322923 550817 84123 65780 204812 55624 487684 477307 2217685 2250277 283518842 98775331 176275436 184743511 116237125 166268523 654819261 799285829 49196163 55338214 1179439142 1297006603 5054723 5129812 14970214 17584268 50000000 50000000 60225651 52799575 130250588 125513655 X 233605198 262431875 506881138 587208605 308702218 321852468 1049188554 1171492948 1179439142 1297006603 X -3864599 126168993 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 40418 40418 false LOBBYING ACTIVITIES SCHEDULE C, PART II-B, LINE 1I PHILLIPS EXETER ACADEMY IS A MEMBER OF NAIS, NACUFS, ISANNE, NACUBO, CASE, THE NE AND AMERICAN ASSOCIATION OF SCHOOLS & COLLEGES, THE NATIONAL BUSINESS OFFICERS ASSOCIATION, ABOPS, AHISA, AISNE, APPA, INTERNATIONAL ASSOCIATION OF CHIEFS OF POLICE, SOCIETY FOR COLLEGES & UNIVERSITIES, A BETTER CHANCE, SSATB, NACAC, COLLEGE BOARD, NAFSA & NEDRA. THESE ORGANIZATIONS MAY USE A PORTION OF MEMBERSHIP DUES TO LOBBY ON BEHALF OF THEIR MEMBERS. TOTAL DUES PAID TO THESE ORGANIZATIONS FROM 7/1/10 TO 6/30/11 WAS $40,418. THE PORTION OF MEMBERSHIP DUES ALLOCATED TO LOBBYING ACTIVITIES BY THESE ORGANIZATIONS IS NOT DETERMINABLE. X X X false 936598421 12798975 137016912 14835919 22350028 248352 1048980009 916995589 3911704 55273508 14616377 24731868 234135 936598421 1101532186 23008716 -164670238 42638649 236426 916995589 0.14000 0.31000 0.55000 true true true 2557694 2557694 253300737 81438154 171862583 20730633 17337177 3393456 6929778 6929778 184743511 US EQUITIES 9622937 F GLOBAL EX U.S. EQUITIES 26186390 F ABSOLUTE RETURN & LONG /SHORT 519158923 F PRIVATE EQUITY & REAL ASSETS 236206207 F OTHER 8111372 F 799285829 0 ANNUITIES & DEFERRED GIVING AR 29778906 ASSET RETIREMENT OBLIGATION 4193899 BOND INTEREST RATE SWAP 6750517 FUNDS FOR STUDENT ORGANIZATION 263722 PENSION & OTHER EMPLOYMENT RET 11812531 52799575 94471790 98336389 -3864599 122266490 3902503 126168993 122304394 217384261 122266490 1750963 124017453 93366808 1104982 1104982 94471790 88099983 -9482250 -9482250 97582233 754156 754156 98336389 SCHEDULE D - SUPPLEMENTAL INFORMATION FORM 990, SCHEDULE D, PART III, LINE 1A THE ACADEMY'S COLLECTIONS INCLUDE WORKS OF ART, LITERARY WORKS, HISTORICAL TREASURES, AND ARTIFACTS. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH, AND FURTHERANCE OF PUBLIC SERVICE. THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE ACADEMY'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS IN THE STATEMENT OF FINANCIAL POSITION. FORM 990, SCHEDULE D, PART III, LINE 4 THE ACADEMY HAS BOOKS, PAINTINGS AND OTHER ITEMS WITH HISTORICAL SIGNIFICANCE THAT ARE HELD FOR STUDY AND OBSERVATION BY OUR STUDENTS AND FACULTY. THESE OBJECTS ARE PRESERVED SO THAT THEY MAY PROVIDE EDUCATIONAL EXPERIENCE TO FUTURE GENERATIONS OF STUDENTS AND ADULTS IN THE CAMPUS COMMUNITY. FORM 990, SCHEDULE D, PART V, LINE 4 PHILLIPS EXETER ACADEMY'S ENDOWED FUNDS ARE INVESTED INTO PERPETUITY AND THE INCOME IS USED TO FUND ACADEMY PROGRAMS. THE FUNDS ARE INVESTED FOR LONG TERM GROWTH SO THAT CURRENT AND FUTURE GENERATIONS OF STUDENTS WILL RECEIVE BENEFIT FROM THE FUNDS. FORM 990, SCHEDULE D, PART X - FIN 48 THE ACADEMY IS A TAX-EXEMPT ORGANIZATION ACCORDING TO THE INTERNAL REVENUE CODE SECTION 501(C)(3). THE ACADEMY FOLLOWS GUIDANCE FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. UNDER THIS GUIDANCE, THE ACADEMY MAY RECOGNIZE ONLY THAT PORTION OF AN UNCERTAIN TAX POSITION THAT IS "MORE LIKELY THAN NOT" TO BE SUSTAINED UNDER EXAMINATION BY TAX AUTHORITIES. FORM 990, SCHEDULE D, PART XI, LINE 8 OTHER CHANGES IN NET ASSETS: CHANGE IN VALUE IN FUNDS HELD FOR DEFERRED GIVING $3,310,442 PENSION RELATED CHARGES OTHER THAN NET PERIODIC PENSION COST $4,434,433 INTEREST RATE SWAP ADJUSTMENT $2,656,612 OP/NONOP TRANSFERS ($6,985,891) MISCELLANEOUS $486,907 ---------------- TOTAL $3,902,503 FORM 990, SCHEDULE D, PART XII, LINE 2D AMOUNTS INCLUDED ON LINE 1, BUT NOT FORM 990, PART VIII, LINE 12 OTHER: INVESTMENT EXPENSES ($ 2,391,203) COST OF SALES NETTED AGAINST GROSS REVENUE $ 380,536 ASSET RETIREMENT OBLIGATION ADJUSTMENT $ 75,763 CHANGE IN VALUE IN FUNDS HELD FOR DEFERRED GIVING $ 3,310,442 PV ADJUSTMENTS FOR PHASED RETIREMENT PLAN $ 375,425 ----------- TOTAL $ 1,750,963 FORM 990, SCHEDULE D, PART XII, LINE 4B AMOUNTS INCLUDED ON PART VIII, LINE 12, BUT NOT ON LINE 1 OTHER: SUMMER FINANCIAL AID NETTED AGAINST TUITION $ 1,104,982 FORM 990, SCHEDULE D, PART XIII, LINE 2D AMOUNTS INCLUDED ON LINE 1, BUT NOT ON FORM 990, PART IX, LINE 25 PENSION RELATED CHARGES OTHER THAN NET PERIODIC PENSION COST ($4,434,433) INTEREST RATE SWAP ADJUSTMENT ($2,656,612) INVESTMENT EXPENSES ($2,391,205) ------------- TOTAL ($9,482,250) FORM 990, SCHEDULE D, PART XIII, LINE 4B OTHER: COST OF SALES FOR AUX. ENTITIES $ (380,536) SUMMER FINANCIAL AID NETTED AGAINST TUITION $ 1,104,982 STUDENT LOAN, NET OF BAD DEBTS $ 29,710 ------------ TOTAL $ 754,156 true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY POLICY SCHEDULE E, PART I, LINE 3 THE POLICY IS EXPLAINED TO ALL CANDIDATES UPON APPLYING TO THE ACADEMY AND TO GUIDANCE COUNSELORS OF SCHOOLS THROUGHOUT THE COUNTRY BY MEANS OF THE ACADEMY APPLICATION FORM AND WEBSITE. FINANCIAL AID OR ASSISTANCE SCHEDULE E, PART I, LINE 6A PHILLIPS EXETER ACADEMY RECEIVES FEDERAL FUNDS THROUGH THE STATE OF NEW HAMPSHIRE DEPARTMENT OF EDUCATION, BUREAU OF NUTRITION FOR REIMBURSEMENTS FOR A PORTION OF OUR BREAKFAST AND LUNCH FOOD PROGRAM. IN 2011, THE ACADEMY RECEIVED USDA FOOD COMMODITIES AND $76,437 IN REIMBURSEMENTS. Europe (Including Iceland and Greenland) 0 5 Program Services STUDY PROGRAM East Asia and the Pacific 0 0 Program Services STUDY PROGRAM Europe (Including Iceland and Greenland) 0 0 Program Services STUDENT RECRUITING East Asia and the Pacific 0 0 Program Services STUDENT RECRUITING Middle East and North Africa 0 0 Program Services STUDENT RECRUITING North America 0 0 Program Services STUDENT RECRUITING Russia and the Newly Independent States 0 0 Program Services STUDENT RECRUITING Europe (Including Iceland and Greenland) 0 0 Fundraising East Asia and the Pacific 0 0 Fundraising Europe (Including Iceland and Greenland) 0 0 Investments 15350115 Central America and the Caribbean 0 0 Investments 235849195 0 5 0 5 251199310 251199310 true true true true true false SCHEDULE F, PART I, LINE 3, COLUMN (F) THE ACADEMY DOES NOT CURRENTLY TRACK FOREIGN EXPENDITURES FOR EACH PROGRAM SEPARATELY. THEREFORE, PURSUANT TO IRS GUIDANCE, DISCLOSURE IN THIS COLUMN IS NOT REQUIRED IN THE CURRENT YEAR. true REGULAR SESSION SCHOLARSHIP 534 16751930 FMV TUITION/FEES ASSIST. REGULAR SESSION OTHER AID 534 66448 828513 FMV OTHER FIN. ASSIST. SUMMER PROGRAM SCHOLARSHIPS 248 1121982 FMV TUITION/FEES ASSIST. SUMMER PROGRAM - OTHER AID 46 7262 FMV OTHER FINANCIAL ASST MONITORING GRANT FUNDS SCHEDULE I, PART I, LINE 2 SCHOLARSHIPS AND MOST FINANCIAL ASSISTANCE CREDITS ARE NON CASH AND ARE APPLIED DIRECTLY TO STUDENT ACCOUNTS AT THE ACADEMY. ON OCCASION FINANCIAL AID STUDENTS ARE REIMBURSED FOR NECESSARY EXPENSES SUCH AS TRANSPORTATION OR THE COST OF COMPUTER EQUIPMENT. DOCUMENTATION EVIDENCING PAYMENT BY THE STUDENT IS REQUIRED BEFORE DISBURSEMENT OF CASH AID IS MADE. PHILLIPS EXETER ACADEMY MAINTAINS EXTENSIVE RECORDS TO JUSTIFY BOTH AWARDS AND THE FINANCIAL NEED ELIGIBILITY OF THE RECIPIENTS. X X true true X X X X X true true false false false false false false false WILLIAM C DAVISON 196264 0 0 0 858 0 23934 0 14915 0 235971 0 0 0 EDWARD W PROBERT 171124 0 0 0 690 0 19664 0 49553 0 241031 0 0 0 THOMAS E HASSAN 300382 0 0 0 1128 0 29400 0 91752 0 422662 0 0 0 JAY H MARTIN 145926 0 0 0 858 0 18135 0 16964 0 181883 0 0 0 JULIE QUINN 141573 0 0 0 1518 0 17139 0 8491 0 168721 0 0 0 TYLER C TINGLEY 0 0 0 0 300400 0 25694 0 10310 0 336404 0 300400 0 JOSEPH FELLOWS 108867 0 0 0 2583 0 13596 0 9460 0 134506 0 0 0 JAMES M THEISEN 250359 0 0 0 3571 0 29400 0 16180 0 299510 0 0 0 COMPENSATION INFORMATION SCHEDULE J, PART I, LINE 1 THE PRINCIPAL OF THE SCHOOL MAY, ON OCCASION, WHILE TRAVELING, BE ACCOMPANIED BY HIS SPOUSE FOR BUSINESS PURPOSES. THE PRINCIPAL IS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE EMPLOYER, TO PARTICIPATE IN ACTIVITIES WITH THE STUDENTS AND TO CONDUCT BUSINESS OUTSIDE NORMAL BUSINESS HOURS. SCHEDULE J, PART I, LINE 4A IN CONNECTION WITH HIS VACATING THE OFFICE OF PRINCIPAL EFFECTIVE JUNE 30, 2009, TYLER TINGLEY BECAME ELIGIBLE FOR A TERMINAL SABBATICAL. UNDER THE TERMS OF THE SABBATICAL, HE RECEIVED CERTAIN PAYMENTS DURING THE PERIOD JULY 1, 2009 THROUGH JUNE 30, 2010. A PORTION OF THESE PAYMENTS TOTALING $214,115 WERE PAID IN 2010 AND ARE REFLECTED IN COLUMN (B)(III). THESE PAYMENTS WERE PREVIOUSLY DISCLOSED ON FORM 990 AND HAVE BEEN INCLUDED IN COLUMN (F). FORMER PRINCIPAL TINGLEY IS ALSO ELIGIBLE FOR CERTAIN ADDITIONAL PAYMENTS AND BENEFITS IN CONNECTION WITH HIS SABBATICAL WHICH ARE REFLECTED IN COLUMNS (B)(III), (C) AND (D). SCHEDULE J, PART I, LINE 4B FORMER PRINCIPAL TINGLEY PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN AS DESCRIBED IN IRC SECTION 457(F). EARNINGS ON THIS PLAN WERE PAID TO MR. TINGLEY IN JANUARY 2010. THIS AMOUNT IS REPORTED IN COLUMN B (III). THIS AMOUNT WAS PREVIOUSLY DISCLOSED ON FORM 990 AND HAS BEEN INCLUDED IN COLUMN (F). NH HEALTH & EDUCATION FACILITIES AUTHORITY 020279866 644614SZ3 2007-09-19 50000000 CAPITAL CONSTRUCTION PROJECTS/REFU false false false 50322058 336409 24946437 25039212 2008 true false true true false false false false true 0.00000 0.00522 0.00522 true false true true BNY MELLON 34.25 false false true SEE SCHEDULE O. JAMES M THEISEN HOME MORTGAGE LOAN X 250000 65780 false true true 65780 31135 TUIT. REMISSION X 0 N/A X 213 2455301 FMV X HOTEL RECEPTION 1 0 N/A false true false SCHEDULE M, PART I, LINE 33 THE ACADEMY DOES NOT RECOGNIZE REVENUES FOR GIFTS IN KIND OF THE TYPES LISTED IN PART I OF SCHEDULE M. IN 2011, THE ACADEMY RECEIVED GIFTS OF BOOKS AND A HOTEL RECEPTION IN KOREA. MISSION STATEMENT FORM 990, PART I, LINE 1 AND PART III, LINE 1 PHILLIPS EXETER ACADEMY, AN INDEPENDENT SECONDARY SCHOOL, CONTINUES THE COMMITMENT TO UNITE GOODNESS AND KNOWLEDGE. WITH A TOTAL ENROLLMENT OF MORE THAN 1,000 STUDENTS APPROXIMATELY 80 PERCENT OF WHOM ARE BOARDERS AND 20 PERCENT OF WHOM ARE DAY STUDENTS, THE SCHOOL SEEKS YOUNG PEOPLE WHO COMBINE PROVEN ACADEMIC ABILITY, INTELLECTUAL CURIOSITY, AND TENACITY WITH DECENCY AND GOOD CHARACTER. AT THE ACADEMY, EXACTING INQUIRY AND THOUGHTFUL DISCOURSE FOSTER THE LIFE OF THE MIND; INSTRUCTION AND ACTIVITY PROMOTE FITNESS AND HEALTH, AND THE DAILY INTERACTIONS OF A RESIDENTIAL SCHOOL NURTURE INTEGRITY, EMPATHY, AND KINDNESS. BECAUSE LEARNING AND GROWTH AT EXETER ARISE FROM EACH INDIVIDUAL'S ENGAGEMENT WITH OTHERS, THE RICHNESS OF EDUCATION REQUIRES DIVERSITY IN ALL ITS DIMENSIONS; STUDENTS AND FACULTY VALUE THE DIFFERENCES THEY BRING TO THE COMMUNITY THEY SHARE. THE CHALLENGES THAT STUDENTS MEET AT EXETER AND THE SUPPORT THEY RECEIVE HAVE A COMMON PURPOSE: TO STIMULATE THEIR DEVELOPMENT AS INDIVIDUALS AND AS MEMBERS OF SOCIETY. EXETER SEEKS TO GRADUATE YOUNG PEOPLE WHOSE CREATIVITY AND INDEPENDENCE OF THOUGHT SUSTAIN THEIR CONTINUING INQUIRY AND REFLECTION, WHOSE INTEREST IN OTHERS AND THE WORLD AROUND THEM SURPASSES THEIR SELF-CONCERN, AND WHOSE PASSION FOR LEARNING IMPELS THEM BEYOND WHAT THEY ALREADY KNOW. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4A PHILLIP EXETER ACADEMY'S PRIMARY PROGRAM SERVICE IS THE EDUCATION OF STUDENTS IN GRADES 9 THROUGH 12, IN A FULLY RESIDENTIAL BOARDING SCHOOL ENVIRONMENT. ENROLLMENT FOR 2010-2011 WAS 1,062. THE FOUNDATION OF EXETER'S REGULAR SESSION CURRICULUM CONTINUES TO BE THE TEACHING METHOD MADE POSSIBLE IN 1931 BY THE GENEROSITY OF EDWARD HARKNESS: DISCUSSION IN SMALL CLASSES MEETING AROUND SEMINAR TABLES WHERE MAXIMUM STUDENT INVOLVEMENT AND INTERCHANGE ARE BOTH ENCOURAGED AND REQUIRED. SINCE 1931, THIS PROCESS HAS CONTINUED WHILE THE CONTENT OF THE CURRICULUM HAS UNDERGONE SEVERAL REVISIONS AS EXETER HAS SOUGHT TO BLEND ITS RESPECT FOR TRADITION WITH ITS COMMITMENT TO EDUCATE YOUNG PEOPLE FOR A RAPIDLY CHANGING WORLD. THE CURRENT CURRICULUM IS BASED ON TWO FUNDAMENTAL ASSUMPTIONS ABOUT AN EXETER EDUCATION. FIRST, DUE TO INCREASING SPECIALIZATION AT THE COLLEGE LEVEL, EXETER VIEWS ITS CHARGE AS PROVIDING STUDENTS WITH A BROAD, LIBERAL ARTS PROGRAM. SECOND, THE ACADEMY BELIEVES THE PROCESS OF EDUCATION IS AS IMPORTANT AS ITS CONTENT. FACULTY EMPHASIZE NOT MERELY WHAT THEY WANT STUDENTS TO KNOW, BUT ALSO WHAT SORTS OF INDIVIDUALS THEY WANT THEM TO BECOME: YOUNG PEOPLE WHOSE PASSION FOR LEARNING EXCEEDS WHAT THEY ALREADY KNOW AND WHOSE INTEREST IN OTHERS AND IN THE WORLD SURPASSES THEIR SELF-CONCERN. EXETER'S SCHOOL YEAR CONSISTS OF THREE TERMS, WHICH ALLOWS EXPANDED ELECTIVE CHOICES ACROSS A RANGE OF DISCIPLINES TO BE COMBINED WITH A FOCUS ON DEPTH OF STUDY IN ADVANCED COURSES IN EACH DEPARTMENT. STUDENTS NORMALLY ENROLL IN FIVE COURSES AND PARTICIPATE IN A SPORT EACH TERM. PHILLIPS EXETER ACADEMY'S SUMMER SCHOOL: EVERY SUMMER PHILLIPS EXETER ACADEMY'S SUMMER SCHOOL WHICH HAS BEEN IN OPERATION SINCE 1961 WELCOMES TO CAMPUS SOME 700 STUDENTS FOR FIVE WEEKS OF ACADEMIC STUDY, ATHLETICS, AND EXPLORATION THAT CARRY PARTICIPANTS FAR BEYOND THE CLASSROOMS AND THE PLAYING FIELDS. TYPICALLY, STUDENTS COME TO US FROM MORE THAN 40 STATES, PUERTO RICO, WASHINGTON, D.C., AND SEVERAL DOZEN FOREIGN NATIONS. SUMMER TEACHERS' CONFERENCES: ONE-WEEK CONFERENCES ARE FOR SECONDARY TEACHERS. THE MATH, SCIENCE AND TECNOLOGY CONFERENCE FEATURES SPEAKERS FROM THE U.S. AND THE U.K. THE CONFERENCE CAN COUNT TOWARDS GRADUATE CREDIT OR PROFESSIONAL DEVELOPMENT. THE CONFERENCE EXPLORES THE MATHEMATICS AND SCIENCE CURRICULA OF TODAY AND TOMORROW WITH SPECIAL FOCUS ON THE IMPACT OF TECHNOLOGY AND ITS APPLICATION IN THE CLASSROOM. THE ASTRONOMY CONFERENCE ALLOWS TEACHERS TO SHARE THEIR EXPERIENCES AS ASTRONOMY EDUCATORS, GENERATE LONG-TERM COLLABORATIONS, AND LEARN ABOUT CHANGES TO THE SCIENCE OF ASTRONOMY AND TO ASTRONOMY EDUCATION. THE HUMANITIES INSTITUTE IS FOR SECONDARY SCHOOL ENGLISH AND HISTORY TEACHERS. IT IS DESIGNED TO EXPLORE THE USE OF STUDENT-CENTERED, DISCUSSION-BASED EDUCATION THAT IS LOOSELY DESCRIBED AS THE "HARKNESS METHOD" OF TEACHING. THE WRITERS' WORKSHOP PROVIDES A PROFESSIONAL DEVELOPMENT EXPERIENCE WHILE SIMULTANEOUSLY INDULGING EACH TEACHER'S CREATIVE WRITING IMPULSE. THE EXETER MATHEMATICS INSTITUTE (EMI) IS AN INTENSIVE, HANDS-ON, ONSITE PROFESSIONAL DEVELOPMENT PROGRAM FOR PUBLIC MIDDLE AND SECONDARY SCHOOL MATHEMATICS TEACHERS. RUN BY PHILLIPS EXETER ACADEMY'S MATHEMATICS DEPARTMENT, EMI CONSISTS OF LOCAL ONE-WEEK WORKSHOPS OFFERED DURING THE SUMMER IN FIVE TO SIX DIFFERENT AMERICAN SCHOOL DISTRICTS. GOVERNING BODY AND MANAGEMENT FORM 990, PART V, SECTION A, LINE 7A THE GENERAL ALUMNI/AE ASSOCIATION (GAA) BOARD OF DIRECTORS CONSISTS OF 15 REGULAR MEMBERS. THEY ELECT FOUR OFFICERS: PRESIDENT, TWO VICE-PRESIDENTS AND A SECRETARY. THE PRESIDENT AND TWO VICE-PRESIDENTS SERVE WITH THE ACADEMY'S BOARD OF TRUSTEES FOR THEIR TERMS AS GAA OFFICERS WHICH CAN BE A PERIOD FROM 1-6 YEARS. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 ONCE PHILLIPS EXETER'S FORM 990 IS COMPLETED, IT IS FIRST REVIEWED BY PHILLIPS EXETER ACADEMY'S INTERNAL MANAGEMENT. FOLLOWING THAT REVIEW, PEA'S INTERNAL MANAGEMENT AND OUTSIDE ADVISORS PRESENT THE FORM 990 TO THE AUDIT COMMITTEE FOR REVIEW AND COMMENT. THE COMPLETED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO THE FORM BEING FILED WITH THE IRS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12A PHILLIPS EXETER ACADEMY MAINTAINS A WRITTEN CONFLICT OF INTEREST POLICY REQUIRING DISCLOSURE OF RELEVANT FACTS THAT GIVE RISE TO A POTENTIAL CONFLICT OF INTEREST. ANNUALLY, TRUSTEES, MEMBERS OF THE INVESTMENT COMMITTEE, ADMINISTRATORS, AND STAFF WITH PURCHASING RESPONSIBILITIES ARE REQUIRED TO ACKNOWLEDGE IN WRITING THAT THEY HAVE READ, UNDERSTAND AND SIGN A CONFLICT OF INTEREST. ADDITIONALLY, EACH TRUSTEE, OFFICER AND/OR KEY EMPLOYEE IS PROVIDED WITH A QUESTIONNAIRE REQUIRING DISCLOSURE OF ANY CONFLICTS OF INTEREST. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, SECTION B, LINE 15 PHILLIPS EXETER ACADEMY MAINTAINS AN EXECUTIVE COMPENSATION PHILOSOPHY INTENDED TO COMPLY WITH IRC 4958 INTERMEDIATE SANCTIONS THAT REQUIRES PERIODIC REVIEW OF PEER INSTITUTIONS FOR COMPENSATION COMPARISONS AMONG EXECUTIVES DEEMED "DISQUALIFIED PERSONS." THE BOARD OF TRUSTEES APPROVES THEIR SALARIES ANNUALLY AND DOCUMENTS THEIR DETERMINATIONS IN MEETING MINUTES. OTHER EXECUTIVE COMPENSATION IS BASED ON A REVIEW OF PEER SCHOOLS USING ABOPS AND OTHER SALARY SURVEY DATA AND IS APPROVED BY THE ADMINISTRATION. DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 PHILLIPS EXETER ACADEMY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. RECONCILIATION OF CHANGE IN NET ASSETS FORM 990, PART XI, LINE 5 NET UNREALIZED GAIN ON INVESTMENTS $122,266,490 CHANGE IN VALUE IN FUNDS HELD FOR DEFERRED GIVING $3,310,442 PENSION RELATED CHARGES OTHER THAN NET PERIODIC PENSION COST $4,434,433 INTEREST RATE SWAP ADJUSTMENT $2,656,612 OP/NONOP TRANSFERS ($6,985,891) MISCELLANEOUS $486,907 ---------------- TOTAL $126,168,993 SCHEDULE K, PART II, LINE 3 INCLUDES INTEREST EARNED OF $322,058. PEA RETIREE HEALTH CARE PLAN 20 MAIN STREET EXETER NH 03833 020489993 VEBA NH 501(C)(9) PEA true HEINZ EXETER SCHOLARSHIP FUND PO BOX 185 PITTSBURG PA 15201 251482044 SCHOLARSHIP PA 501(C)(3) PF NA false MSSC TRUST FBO PHILLIPS EXETER ACADEMY PO BOX 748 SULLIVANS ISLAND SC 29482 576114852 SCHOLARSHIP SC 501(C)(3) 11D, III-O NA false POOLED INCOME FUND (2) FUNDRAISING NH T CHARITABLE REMAINDER TRUST (91) FUNDRAISING T false false true false false false false false false false false false false false false true false false MSSC TRUST FBO PHILLIPS EXETER ACADEMY C 101850 FMV PEA RETIREMENT HEALTH CARE PLAN P 953618 FMV PART IV, LINE (2), COLUMN (C) CA, DE, FL, IA, IL, IRELAND, MA, MN, NC, NH, NJ, NY, OH, PA, RI, TX, VA, VT, WI