Massachusetts · Nonprofit
TRUSTEES OF PHILLIPS ACADEMY
TRUSTEES OF PHILLIPS ACADEMY (Massachusetts) receives grants from 294 organizations whose IRS filings report $86,751,705 to it, the largest being FIDELITY INVESTMENTS CHARITABLE GIFT FUND ($24,722,299). 187 of them have funded it in more than one year, and 66% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- Revenue FY2025
- $208M
- Funders on record
- 294
- Grants received
- $87M
- Net assets
- $1.9B
What Trustees of Phillips Academy does
Mission
Phillips academy is a coeducational, boarding school located in andover, massachusetts for students in grades nine through twelve and post-graduates. The school strives to help young people from diverse backgrounds achieve their potential not only intellectually, but also artistically, athletically and morally, so that they may lead responsible and fulfilling lives.
As stated on its FY2025 Form 990.
Programs
Education, 1,168 students - regular session grades 9 - 12: phillips academy is a residential secondary school which seeks students of intelligence and integrity from diverse cultural, racial, socioeconomic and geographic backgrounds. The school's residential structure enables faculty to support students in their personal, social and intellectual development. The academic program fosters excellence in all disciplines within the liberal arts tradition. Faculty members guide students in mastering skills, acquiring knowledge and thinking critically, creatively and independently. The school strives to help young people achieve their potential not only intellectually, but also artistically, athletically and morally, so that they may lead responsible and fulfilling lives. The academy is committed to establishing an environment that encourages people of diverse backgrounds and beliefs to understand and respect one another and to be sensitive to the differences of gender, ethnicity, class and sexual orientation. In its programs the school seeks to promote a balance of leadership, cooperation and service, together with a deeper awareness of the global community and natural world. Andover's…
$128,262,863 spentof which $29,286,251 as grants$87,278,854 earned by the program95% of program spendingEducation, 558 students, and 60 advantage students - summer session: the summer session offers its students intensive academic enrichment through a variety of on-campus programs. Its flagship on-campus program, a five-week residential experience, is characterized by demanding classes, engaging recreational afternoon activities, social events, and cultural opportunities, as well as welcoming dormitories, all of which are designed to prepare students in grades 7 - 12 for secondary school and collegiate residential life. In keeping with one of the academy's ideals "to be a private school with a public purpose," summer session strives yearly to use its financial aid budget in order to offer the experience to as many qualified and deserving applicants as possible. Summer session works cooperatively with other programs such as minds matter, the eos foundation, reach memphis, the wight foundation, and others to identify scholars "from every quarter" to sponsor for this summer opportunity. Finally, summer session serves as the umbrella for the other outreach programs that work directly with students during the summer, both on-campus and virtually, making sure that they receive appropriate…
$4,690,448 spentof which $361,323 as grants$6,053,139 earned by the program3% of program spendingEducation, 108 students - mathematics and science for minority students (ms) 2: (ms) 2, founded in 1977, provides academic enrichment, college access, and opportunities for personal development to nurture the competencies and self-confidence of academically talented and motivated high school students from underrepresented communities who are interested in careers in math and science related fields for five weeks for three consecutive summers at phillips academy. The program is free to all enrolled students, including travel to and from andover. Students apply during the fall of their 9th grade year and begin the program the following summer. The program provides the scholars with rigorous coursework and offers them opportunities to gain valuable life skills to better prepare them for college and careers in math and science related fields.
$930,500 spentof which $8,173 as grants1% of program spendingTotal of all other program services expenses $1,620,899. Including grants of $558,390. Revenue $39,000. The institute for recruitment of teachers (irt) supports talented prospective educators preparing to join the nation's teaching faculties by recruiting outstanding scholars committed to student success and transformative education, counseling them through the graduate school application process, and advocating for sufficient funding for advanced study. Irt graduates have enjoyed remarkeable success securing jobs as k-12 teachers, counselors, and principals, as well as professors, university administrators, and leaders. Since 1990, the irt has built a national consortium of colleges and universities that are eager to enroll irt students to diversify their graduate student bodies and expand the pipeline of educators to teach, counsel, and administrate in american schools, colleges, and universities. Irt urges its students to earn their advanced degrees and teaching credentials before they launch their educational careers. Annually, the irt enrolls over 100 talented students who are majoring in the arts, humanities, social sciences, or education, to its associate program for…
$1,620,899 spentof which $558,390 as grants$39,000 earned by the program1% of program spending
The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $135,504,710.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2020 to 2021, from $1.6B to $2.0B (+20%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
17% of TRUSTEES OF PHILLIPS ACADEMY’s revenue is contributions — more donation-reliant than the typical peer (14% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Who funds it, year by year
2017 → 2023: the base broadened from 85 funders to 129 funders, grant income fell $11M → $11M.
53 of 294 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 66% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of TRUSTEES OF PHILLIPS ACADEMY’s funders (the co-funder graph). Top 30 of 294 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
TRUSTEES OF PHILLIPS ACADEMY has a broad base — no single funder exceeds 28% of grant income, and it takes 3 funders to reach half.
the vertical line marks half of all grant income — 3 funders to its left
66% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund TRUSTEES OF PHILLIPS ACADEMY.
Largest funder’s share by year: 2017 39% · 2018 53% · 2019 53% · 2020 44% · 2021 40% · 2022 25% · 2023 36% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
52% of TRUSTEES OF PHILLIPS ACADEMY's funders are still giving 3 years after their first grant; 64% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
66% of TRUSTEES OF PHILLIPS ACADEMY's grant income arrives through donor-advised or pass-through sponsors, whose addresses record where the money is held rather than where the donor is. Of the $30M that is directly attributable, 94% of it comes from funders outside Massachusetts, across 31 states.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $57M arriving through sponsors registered in 24 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
TRUSTEES OF PHILLIPS ACADEMY runs a healthier operating margin than three-quarters of the 684 education nonprofits its size.
this organization peer median middle 50% of peers· 684 education nonprofits over $100M, FY2025
Government funding TRUSTEES OF PHILLIPS ACADEMY receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $12k on record.
- (PP) STATE AID/POL SUB$11k
- (TT) LOANS AND SPECIAL PAYMENTS$300
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like TRUSTEES OF PHILLIPS ACADEMY
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Massachusetts
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
79% of spending goes to programs.
Governance
Public support
68%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 2 states
Part of a family of 4 related entities
- Institute for Recruitment of Teachers · exempt
- Charitable Trusts (33) · corp_trust
- Sof-Viii Investor IV · corp_trust
- Pooled Income Funds (2) · corp_trust
Screen this organization
A dated, signed PDF of the compliance screen for TRUSTEES OF PHILLIPS ACADEMY: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds TRUSTEES OF PHILLIPS ACADEMY?
- TRUSTEES OF PHILLIPS ACADEMY (Massachusetts) receives grants from 294 organizations whose IRS filings report $86,751,705 to it, the largest being FIDELITY INVESTMENTS CHARITABLE GIFT FUND ($24,722,299). 187 of them have funded it in more than one year, and 66% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- How many funders does TRUSTEES OF PHILLIPS ACADEMY have?
- IRS filings report 294 organizations giving $86,751,705 in grants to TRUSTEES OF PHILLIPS ACADEMY, 187 of which have funded it in more than one year.
- Who is the largest funder of TRUSTEES OF PHILLIPS ACADEMY?
- FIDELITY INVESTMENTS CHARITABLE GIFT FUND is the largest funder on record, with $24,722,299 in grants. The full list of funders is on this page.
- How can an organization like TRUSTEES OF PHILLIPS ACADEMY find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Massachusetts. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 294 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing