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Phillips Exeter Academy

Public charity990-T FY2023
DBA: % LORI NOVELL
Other · EXETER, NH · EIN 02-0222174

About

Form 990, part i, line 1 and part III, line 1 unite goodness and knowledge and inspire youth from every quarter to lead purposeful lives. [text in quotations is taken from the academy's DEED of gift, drafted in 1781] knowledge and goodness "above ALL, it is expected that the attention of instructors to the disposition of the minds and morals of the youth under their charge will exceed every other care; well considering that though goodness without knowledge is WEAK and feeble, YET knowledge without goodness is dangerous, and that both united form the noblest character, and LAY the surest foundation of usefulness to [HU]mankind." exeter today continues the commitment to unite knowledge and goodness. The challenges that students meet at exeter and the support they receive have a common objective: to stimulate their development as individuals and prepare them to lead purposeful lives. Academic excellence academic excellence is a signature strength of phillips exeter academy. In every discipline and at every level within our curriculum we inspire students to develop critical thinking skills and seek complex truths. Intellectual exploration through rigorous inquiry and thoughtful discourse at the harkness table nurtures inquisitiveness, creativity, insight, empathy, independent thought and mastery in our students. Youth from every quarter "the academy shall ever be equally open to youth of requisite qualification from every quarter." we seek to build an intentionally diverse community of students and adults. We are committed to teaching the skills, modeling the behaviors, providing the resources and cultivating the inclusion and equity that are required to unlock the richness of that diversity. Our harkness pedagogy is grounded in the belief that we are ALL better equipped to learn and to lead when our thoughts are tested by others, particularly by those whose ideas, perspectives, experiences or identities differ from our own. Youth is the important period the "time of youth is the important period" to instill a lasting capacity to nurture one's self, develop a sense of one's own potential and consider one's place in the larger whole. Our residential community encourages students to explore emerging interests - academic, artistic, athletic and extracurricular - with similarly motivated peers and in the process develop their values and passions and the agency needed to carry these forward. NON SIBI NON SIBI, or not for oneself, inscribed on exeter's SEAL, attests to the philosophy that wisdom gained HERE should be used for others as well as for oneself. Exonians are motivated by this philosophy to face the challenges of their day. Teaching and living the principles of a just and sustainable society - environmentally, economically and socially - are fundamental to this philosophy today. Exeter seeks to graduate young people whose ambitions and actions are inspired by their interest in others and the world around them.

In care of LORI Novell

Donations are tax-deductible
Category
Other
Employees
1,206
Volunteers
3,903

Financial Snapshot

FY ending 2023-06-30
Revenue
$153.6M
Expenses
$153.2M
Assets
$2.0B
Liabilities
$191.9M

Financial history

$231.5M$115.7M$0
1617181920212223
RevenueExpenses
Latest FY2023: $153.6M · Peak FY2022: $231.5M · Avg: $182.4M

Foreign activity (Schedule F)

Total spent abroad$519.1M
Foreign employees0
Foreign offices0
Foreign partnership interestYes
Foreign trust interestNo
RegionActivitySpent
East Asia and the Pacific
Central America and the Caribbean
Europe (Including Iceland and Greenland)
North America
Central America and the Caribbean
East Asia and the Pacific
East Asia and the Pacific
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Europe (Including Iceland and Greenland)
Middle East and North Africa
Middle East and North Africa
Sub-Saharan Africa

501(h) election

This 501(c)(3) has NOT elected 501(h) — lobbying is permitted but limited under the vaguer "no substantial part of activities" test.

Political & Grant Activity

Campaign Spending
Lobbying
$135K
Grants Given
$25.7M
PHILLIPS EXETER ACADEMY
Your actions

Address

20 Main ST
Exeter, NH, 03833-243

Governance

Voting board members21
Independent members20
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardNo

Compensation practices

Severance paymentsNo
Equity-based compNo
Supplemental retirement planNo
Compensation committeeYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionYes

Financial detail (Schedule D)

Board-designated %16.9%
Permanent endowment %27.4%
Endowment held by related orgNo
Public records
ProPublica Nonprofit Explorer
Full 990 PDFs going back to 2001, plus parsed financial extracts. The easiest place to read actual filings.
IRS Tax Exempt Organization Search
IRS-side authoritative source. Confirms current exempt status and pulls the latest determination letter.
These open in a new tab. AllCiv doesn't host filings directly — these are the authoritative public-record sources.