PHILLIPS EXETER ACADEMY: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization: PHILLIPS EXETER ACADEMY (EIN 02-0222174)
Tax period: 2020-07-01 to 2021-06-30
Filed: 2022-05-12
IRS object ID: 202221329349305917
Schema version: 2020v4.1
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 C
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	2022-05-12T14:06:00-05:00	ReturnTs
Tax Period End	2021-06-30	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	2020-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	020222174	EIN

Business Name BusinessName

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

Field	Value	IRS element (for citing)
In Care Of	% SAMANTHA K SLINEY	InCareOfNm
Business Name Control	PHIL	BusinessNameControlTxt
Phone	6037724311	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20 MAIN STREET	AddressLine1Txt
City	EXETER	CityNm
State Abbreviation	NH	StateAbbreviationCd
ZIP	038332460	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	MARIJKA BEAUCHESNE	PersonNm
Person Title	CFO	PersonTitleTxt
Phone	6037773211	PhoneNum
Signature	2022-05-11	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	MARIJKA	PersonFirstNm
Person Last	BEAUCHESNE	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	GWENDOLYN SPENCER	PreparerPersonNm
PTIN	P00641463	PTIN
Phone	6175305000	PhoneNum
Preparation	2022-04-29	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd

Field	Value	IRS element (for citing)
Tax	2020	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	WILLIAM RAWSON	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20 MAIN STREET	AddressLine1Txt
City	EXETER	CityNm
State Abbreviation	NH	StateAbbreviationCd
ZIP	038332460	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$665,086,818	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	WWW.EXETER.EDU	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1781	FormationYr
Legal Domicile State	NH	LegalDomicileStateCd
Activity Or Mission	SEE SCHEDULE O.	ActivityOrMissionDesc
Voting Members Governing Body	21	VotingMembersGoverningBodyCnt
Voting Members Independent	20	VotingMembersIndependentCnt
Total Employee	1112	TotalEmployeeCnt
Total Volunteers	3663	TotalVolunteersCnt
Total Gross UBI	$2,622,008	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$5,703	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$19,526,643	PYContributionsGrantsAmt
CY Contributions Grants	$50,175,585	CYContributionsGrantsAmt
PY Program Service Revenue	$63,407,545	PYProgramServiceRevenueAmt
CY Program Service Revenue	$60,246,648	CYProgramServiceRevenueAmt
PY Investment Income	$77,454,295	PYInvestmentIncomeAmt
CY Investment Income	$134,599,986	CYInvestmentIncomeAmt
PY Other Revenue	$1,237,321	PYOtherRevenueAmt
CY Other Revenue	$596,369	CYOtherRevenueAmt
PY Total Revenue	$161,625,804	PYTotalRevenueAmt
CY Total Revenue	$245,618,588	CYTotalRevenueAmt
PY Grants And Similar Paid	$25,644,798	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$26,096,955	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$62,746,578	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$64,418,981	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$6,456,540	CYTotalFundraisingExpenseAmt
PY Other Expenses	$43,100,096	PYOtherExpensesAmt
CY Other Expenses	$50,541,802	CYOtherExpensesAmt
PY Total Expenses	$131,491,472	PYTotalExpensesAmt
CY Total Expenses	$141,057,738	CYTotalExpensesAmt
PY Revenues Less Expenses	$30,134,332	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$104,560,850	CYRevenuesLessExpensesAmt
Total Assets BOY	$1,715,514,168	TotalAssetsBOYAmt
Total Assets EOY	$2,084,878,320	TotalAssetsEOYAmt
Total Liabilities BOY	$169,483,343	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$209,930,191	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,546,030,825	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,874,948,129	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	$117,150,587	ExpenseAmt
Grant	$26,066,830	GrantAmt
Revenue	$59,398,512	RevenueAmt
Desc	SEE SCHEDULE O.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Expense	$745,569	ExpenseAmt
Grant	$30,125	GrantAmt
Revenue	$737,596	RevenueAmt
Desc	SEE SCHEDULE O.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Expense	$835,706	ExpenseAmt
Revenue	$648,934	RevenueAmt
Desc	AUXILIARY ENTERPRISES INCLUDE STUDENT GRILL, FACILITY RENTALS, AND THE CHILDREN'S CENTER WHICH SERVICE THE ACADEMY DURING BOTH SUMMER AND REGULAR SESSIONS.	Desc

Field	Value	IRS element (for citing)
Total Program Service Expenses	$118,731,862	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	Yes (true)	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	Yes (true)	LobbyingActivitiesInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	Yes (true)	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Donor Rstr Or Quasi Endowments	Yes (true)	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (true)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	Yes (true)	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	Yes (true)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (true)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (true)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	Yes (true)	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	Yes (true)	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	false	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 With35 Ctrl Ent	false	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	Yes (true)	DeductibleNonCashContriInd
Deductible Art Contribution	Yes (true)	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	Yes (true)	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	265	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	1112	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	Yes (true)	QuidProQuoContributionsInd
Quid Pro Quo Contri Discl	Yes (true)	QuidProQuoContriDisclInd
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	21	GoverningBodyVotingMembersCnt
Independent Voting Member	20	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	false	MembersOrStockholdersInd
Election Of Board Members	Yes (true)	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	false	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	CA	StatesWhereCopyOfReturnIsFldCd
States Where Copy Of Return Is Fld	IN	StatesWhereCopyOfReturnIsFldCd
States Where Copy Of Return Is Fld	NH	StatesWhereCopyOfReturnIsFldCd
States Where Copy Of Return Is Fld	OK	StatesWhereCopyOfReturnIsFldCd
Own Website	Yes (X)	OwnWebsiteInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	SAMANTHA K SLINEY	PersonNm
Phone	6037773211	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20 MAIN STREET	AddressLine1Txt
City	EXETER	CityNm
State Abbreviation	NH	StateAbbreviationCd
ZIP	038332460	ZIPCd

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

Form990 Part VII Section A Form990PartVIISectionAGrp (27 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	Highest Compensated EmployeeHighestCompensatedEmployeeInd
WILLIAM RAWSON
PRINCIPAL	40.0	0.0	Yes (X)	Yes (X)	$436,838	$0	$71,016
JUSTIN MERRILL
DIRECTOR OF INVESTMENTS	40.0	0.0			$339,204	$0	$56,954	Yes (X)
MARIJKA BEAUCHESNE
CFO	40.0	0.0		Yes (X)	$295,605	$0	$48,851
KATHARINA LILLY
MEDICAL DIRECTOR	40.0	0.0			$229,725	$0	$113,261	Yes (X)
HOLLY BARCROFT
GENERAL COUNSEL	40.0	0.0			$247,867	$0	$74,409	Yes (X)
MORGAN DUDLEY
DIRECTOR INSTITUTIONAL ADV.	40.0	0.0			$284,196	$0	$34,536	Yes (X)
WILLIAM LEAHY
DEAN OF ENROLLMENT	40.0	0.0			$196,827	$0	$107,804	Yes (X)
WOLE C COAXUM
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
MARK A EDWARDS
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
JENNIFER P HOLLERAN
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
MORGAN C SZE
PRESIDENT/TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
DEIDRE G O'BYRNE
VICE PRESIDENT/TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
SALLY JUTABHA MICHAELS
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
E JANNEY WILSON
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
PETER M SCOCIMARA
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
SERENA WILLE SIDES
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
SUZI K COHEN
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
CLAUDINE GAY
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
PETER A GEORGESCU
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
KRISTYN MCLEOD VAN OSTERN
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
JACQUELINE J HAYES
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
CIA BUCKLEY MARAKOVITS
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
SANJAY SHETTY
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
A GENISHA SAVERIMUTHU
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
IRA D HELFAND
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
SCOTT SANG-WON HAHN
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0
ELIZABETH A FLEMING
TRUSTEE	2.0	0.0	Yes (X)		$0	$0	$0

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$2,030,262	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$506,831	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	78	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
SHAWMUT DESIGN CONSTRUCTION
560 HARRISON ROAD	BOSTON	MA	02118	CONTRACT SERVICES	$6,334,756
CUTLER ASSOCIATES
43 HARVARD STREET	WORCESTER	MA	01609	CONTRACT SERVICES	$3,447,841
FERRILLI INFORMATION GROUP
41 SOUTH HADDON AVE SUITE 7	HADDONFIELD	NJ	08033	IT CONTRACT SERVICES	$400,020
THE SLAM COLLABORATIVE
80 Glastonbury Boulevard	GLASTONBURY	CT	06033	CONTRACT SERVICES	$668,290
ANN BEHA ARCHITECTS
33 KINGSTON STREET	BOSTON	MA	02112	CONTRACT SERVICES	$471,509

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	30	CntrctRcvdGreaterThan100KCnt
All Other Contributions	$50,175,585	AllOtherContributionsAmt
Noncash Contributions	$3,539,863	NoncashContributionsAmt
Total Contributions	$50,175,585	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
STUDENT TUITION & FEES	611710	$58,905,292	$58,905,292
AUX.& SUMMER PROGRAMS	611710	$1,341,356	$1,341,356

Field	Value	IRS element (for citing)
Total Program Service Revenue	$60,246,648	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$6,329,522	TotalRevenueColumnAmt
Unrelated Business Revenue	-$713,563	UnrelatedBusinessRevenueAmt
Exclusion	$7,043,085	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

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$45,174	RealAmt

Less Rental Expenses LessRentalExpensesGrp

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

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$45,174	RealAmt
Personal	$0	PersonalAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$45,174	TotalRevenueColumnAmt
Related Or Exempt Func Income	$45,174	RelatedOrExemptFuncIncomeAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$547,621,508	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$419,351,044	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$128,270,464	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$128,270,464	TotalRevenueColumnAmt
Unrelated Business Revenue	$3,335,571	UnrelatedBusinessRevenueAmt
Exclusion	$124,934,893	ExclusionAmt

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

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

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

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

Net Income From Gaming NetIncomeFromGamingGrp

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

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	$2,055	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$117,186	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	-$115,131	TotalRevenueColumnAmt
Exclusion	-$115,131	ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	ExclusionExclusionAmt
TUITION REFUND INSURANCE	611710	$204,386	$204,386
APPLICATION FEES	611710	$181,950	$181,950
BOOKSTORE COMMISSIONS	611710	$173,106		$173,106

Miscellaneous Revenue MiscellaneousRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$106,884	TotalRevenueColumnAmt
Related Or Exempt Func Income	$106,884	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$666,326	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$245,618,588	TotalRevenueColumnAmt
Related Or Exempt Func Income	$60,785,042	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$2,622,008	UnrelatedBusinessRevenueAmt
Exclusion	$132,035,953	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

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

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$26,096,955	TotalAmt
Program Services	$26,096,955	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	$844,611	TotalAmt
Program Services	$295,851	ProgramServicesAmt
Management And General	$450,143	ManagementAndGeneralAmt
Fundraising	$98,617	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	$46,352,725	TotalAmt
Program Services	$38,800,874	ProgramServicesAmt
Management And General	$3,327,614	ManagementAndGeneralAmt
Fundraising	$4,224,237	FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$4,983,650	TotalAmt
Program Services	$4,225,882	ProgramServicesAmt
Management And General	$349,662	ManagementAndGeneralAmt
Fundraising	$408,106	FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$9,495,131	TotalAmt
Program Services	$8,276,884	ProgramServicesAmt
Management And General	$562,693	ManagementAndGeneralAmt
Fundraising	$655,554	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$2,742,864	TotalAmt
Program Services	$2,256,404	ProgramServicesAmt
Management And General	$240,806	ManagementAndGeneralAmt
Fundraising	$245,654	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	$735,073	TotalAmt
Program Services	$3,859	ProgramServicesAmt
Management And General	$731,214	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$309,253	TotalAmt
Management And General	$309,253	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	$266,815	TotalAmt
Management And General	$266,815	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$2,324,294	TotalAmt
Program Services	$1,633,825	ProgramServicesAmt
Management And General	$484,325	ManagementAndGeneralAmt
Fundraising	$206,144	FundraisingAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$285,696	TotalAmt
Program Services	$283,404	ProgramServicesAmt
Management And General	$2,167	ManagementAndGeneralAmt
Fundraising	$125	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$1,431,950	TotalAmt
Program Services	$1,149,422	ProgramServicesAmt
Management And General	$174,001	ManagementAndGeneralAmt
Fundraising	$108,527	FundraisingAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$2,480,767	TotalAmt
Program Services	$2,183,663	ProgramServicesAmt
Management And General	$179,445	ManagementAndGeneralAmt
Fundraising	$117,659	FundraisingAmt

Royalties RoyaltiesGrp

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

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$6,758,453	TotalAmt
Program Services	$4,802,409	ProgramServicesAmt
Management And General	$1,903,437	ManagementAndGeneralAmt
Fundraising	$52,607	FundraisingAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$174,439	TotalAmt
Program Services	$164,411	ProgramServicesAmt
Management And General	$4,722	ManagementAndGeneralAmt
Fundraising	$5,306	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	$550,891	TotalAmt
Program Services	$447,611	ProgramServicesAmt
Management And General	$77,786	ManagementAndGeneralAmt
Fundraising	$25,494	FundraisingAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$2,544,631	TotalAmt
Program Services	$2,459,593	ProgramServicesAmt
Management And General	$58,615	ManagementAndGeneralAmt
Fundraising	$26,423	FundraisingAmt

Payments To Affiliates PaymentsToAffiliatesGrp

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

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$15,307,391	TotalAmt
Program Services	$14,785,684	ProgramServicesAmt
Management And General	$359,602	ManagementAndGeneralAmt
Fundraising	$162,105	FundraisingAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$1,287,066	TotalAmt
Program Services	$754,220	ProgramServicesAmt
Management And General	$494,169	ManagementAndGeneralAmt
Fundraising	$38,677	FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt	FundraisingFundraisingAmt
STUDENT RELATED EXPENSES	$10,263,713	$5,042,306	$5,221,003	$404
FOOD/PROVISIONS	$1,602,026	$1,602,026
PLANT RELATED ACTIVITIES	$1,579,729	$1,525,889	$37,111	$16,729
MISCELLANEOUS EXPENSES	$2,487,555	$1,853,380	$602,566	$31,609

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$152,060	TotalAmt
Program Services	$87,310	ProgramServicesAmt
Management And General	$32,187	ManagementAndGeneralAmt
Fundraising	$32,563	FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$141,057,738	TotalAmt
Program Services	$118,731,862	ProgramServicesAmt
Management And General	$15,869,336	ManagementAndGeneralAmt
Fundraising	$6,456,540	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$13,894,799	BOYAmt
EOY	$20,953,891	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$68,837,749	BOYAmt
EOY	$216,935,824	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$11,962,959	BOYAmt
EOY	$34,111,833	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$6,817	BOYAmt
EOY	$566,811	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	$0	BOYAmt
EOY	$0	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$317,771	BOYAmt
EOY	$373,316	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$2,884,008	BOYAmt
EOY	$3,534,866	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$523,922,300	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$189,988,942	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$328,976,294	BOYAmt
EOY	$333,933,358	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$15,426,896	BOYAmt
EOY	$47,950,790	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$1,199,062,202	BOYAmt
EOY	$1,330,735,498	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

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

Intangible Assets IntangibleAssetsGrp

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

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$74,144,673	BOYAmt
EOY	$95,782,133	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,715,514,168	BOYAmt
EOY	$2,084,878,320	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$7,929,282	BOYAmt
EOY	$8,167,582	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	$7,973,739	BOYAmt
EOY	$20,621,355	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$80,000,000	BOYAmt
EOY	$80,000,000	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	$73,580,322	BOYAmt
EOY	$101,141,254	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$169,483,343	BOYAmt
EOY	$209,930,191	EOYAmt

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

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$444,734,542	BOYAmt
EOY	$500,668,223	EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,101,296,283	BOYAmt
EOY	$1,374,279,906	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,546,030,825	BOYAmt
EOY	$1,874,948,129	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,715,514,168	BOYAmt
EOY	$2,084,878,320	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$104,560,850	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$203,651,831	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$20,704,623	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	$20,288,108	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$29,490,880	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$21,888,460	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$19,526,643	CurrentTaxYearMinus1YearAmt
Current Tax Year	$50,175,585	CurrentTaxYearAmt
Total	$141,369,676	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	$20,288,108	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$29,490,880	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$21,888,460	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$19,526,643	CurrentTaxYearMinus1YearAmt
Current Tax Year	$50,175,585	CurrentTaxYearAmt
Total	$141,369,676	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$20,201,462	SubstantialContributorsTotAmt
Public Support Total170	$121,168,214	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$5,964,319	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$7,392,340	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$8,249,358	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$7,260,804	CurrentTaxYearMinus1YearAmt
Current Tax Year	$6,374,696	CurrentTaxYearAmt
Total	$35,241,517	TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

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

Other Income170 OtherIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$689,855	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$739,553	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$756,778	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$618,059	CurrentTaxYearMinus1YearAmt
Current Tax Year	$175,161	CurrentTaxYearAmt
Total	$2,979,406	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$179,590,599	TotalSupportAmt
Gross Receipts Rltd Activities	$313,842,887	GrossReceiptsRltdActivitiesAmt
Public Support CY170	0.67469	PublicSupportCY170Pct
Public Support PY170	0.69139	PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170	Yes (X)	ThirtyThrPctSuprtTestsCY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE A, PART II, LINE 10	FormAndLineReferenceDesc
Explanation	Other Income: 2016 689,855 2017 739,553 2018 756,778 2019 618,059 2020 175,161 Total 2,979,406	ExplanationTxt

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 C IRS990ScheduleC

Field	Value	IRS element (for citing)
Total Grassroots Lobbying		TotalGrassrootsLobbyingGrp
Total Direct Lobbying		TotalDirectLobbyingGrp
Total Lobbying Expend		TotalLobbyingExpendGrp
Other Exempt Purpose Expend		OtherExemptPurposeExpendGrp
Total Exempt Purpose Expend		TotalExemptPurposeExpendGrp
Lobbying Nontaxable Amount		LobbyingNontaxableAmountGrp
Grassroots Nontaxable		GrassrootsNontaxableGrp
Tot Lbbyng Grassroot Mns Non Tx		TotLbbyngGrassrootMnsNonTxGrp
Tot Lbby Expend Mns Lbbyng Non Tx		TotLbbyExpendMnsLbbyngNonTxGrp
Volunteers	false	VolunteersInd
Paid Staff Or Management	false	PaidStaffOrManagementInd
Media Advertisements	false	MediaAdvertisementsInd
Mailings Members	false	MailingsMembersInd
Publications Or Broadcast	false	PublicationsOrBroadcastInd
Grants Other Organizations	false	GrantsOtherOrganizationsInd
Direct Contact Legislators	false	DirectContactLegislatorsInd
Rallies Demonstrations	false	RalliesDemonstrationsInd
Other Activities	Yes (true)	OtherActivitiesInd
Other Activities	$160,253	OtherActivitiesAmt
Total Lobbying Expenditures	$160,253	TotalLobbyingExpendituresAmt
Not Described Section501c3	false	NotDescribedSection501c3Ind

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	LOBBYING ACTIVITIES	FormAndLineReferenceDesc
Explanation	SCHEDULE C, PART II-B, LINE 1I PHILLIPS EXETER ACADEMY IS A MEMBER OF THE ASSOCIATION OF BOARDING SCHOOLS, EIGHT SCHOOL ASSOCIATION, AISNE, CSEE, AASHE, COLLEGE BOARD, NACUBO, ABOPS, EXETER AREA CHAMBER OF COMMERCE, NBOA, NNSP, SPARC, SCHOOL YEAR ABROAD, NHMEA, NAIS, TABS, NEASC, MASTERY TRANSCRIPT CONSORTIUM AND A BETTER CHANCE. THESE ORGANIZATIONS MAY USE A PORTION OF MEMBERSHIP DUES TO LOBBY ON BEHALF OF THEIR MEMBERS. TOTAL MEMBERSHIP DUES PAID BETWEEN 7/1/20 AND 6/30/21 WAS $160,253. THE PORTION OF MEMBERSHIP DUES ALLOCATED TO LOBBYING ACTIVITIES BY THESE ORGANIZATIONS IS NOT DETERMINABLE.	ExplanationTxt

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
Solicited Assets Sale	false	SolicitedAssetsSaleInd

CY Endwmt Fund CYEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,313,339,317	BeginningYearBalanceAmt
Contributions	$34,203,091	ContributionsAmt
Investment Earnings Or Losses	$337,216,640	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$22,015,150	GrantsOrScholarshipsAmt
Other Expenditures	$45,929,792	OtherExpendituresAmt
Administrative Expenses	$402,933	AdministrativeExpensesAmt
End Year Balance	$1,616,411,173	EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,315,274,700	BeginningYearBalanceAmt
Contributions	$16,690,851	ContributionsAmt
Investment Earnings Or Losses	$42,779,080	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$20,803,700	GrantsOrScholarshipsAmt
Other Expenditures	$40,341,397	OtherExpendituresAmt
Administrative Expenses	$260,217	AdministrativeExpensesAmt
End Year Balance	$1,313,339,317	EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,314,997,478	BeginningYearBalanceAmt
Contributions	$10,232,665	ContributionsAmt
Investment Earnings Or Losses	$49,567,791	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$19,877,838	GrantsOrScholarshipsAmt
Other Expenditures	$39,305,124	OtherExpendituresAmt
Administrative Expenses	$340,272	AdministrativeExpensesAmt
End Year Balance	$1,315,274,700	EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,240,384,295	BeginningYearBalanceAmt
Contributions	$8,983,054	ContributionsAmt
Investment Earnings Or Losses	$122,393,634	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$19,682,779	GrantsOrScholarshipsAmt
Other Expenditures	$36,861,225	OtherExpendituresAmt
Administrative Expenses	$219,501	AdministrativeExpensesAmt
End Year Balance	$1,314,997,478	EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,134,211,292	BeginningYearBalanceAmt
Contributions	$14,225,801	ContributionsAmt
Investment Earnings Or Losses	$148,329,692	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$19,256,064	GrantsOrScholarshipsAmt
Other Expenditures	$36,778,424	OtherExpendituresAmt
Administrative Expenses	$348,002	AdministrativeExpensesAmt
End Year Balance	$1,240,384,295	EndYearBalanceAmt

Field	Value	IRS element (for citing)
Board Designated Balance EOY	0.16660	BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY	0.23840	PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY	0.59500	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	$4,412,770	OtherCostOrOtherBasisAmt
Book Value	$4,412,770	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$495,408,907	OtherCostOrOtherBasisAmt
Depreciation	$179,847,854	DepreciationAmt
Book Value	$315,561,053	BookValueAmt

Field	Value	IRS element (for citing)
Leasehold Improvements		LeaseholdImprovementsGrp

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$16,474,635	OtherCostOrOtherBasisAmt
Depreciation	$10,141,088	DepreciationAmt
Book Value	$6,333,547	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$7,625,988	OtherCostOrOtherBasisAmt
Depreciation	$0	DepreciationAmt
Book Value	$7,625,988	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$333,933,358	TotalBookValueLandBuildingsAmt
Financial Derivatives		FinancialDerivativesGrp
Closely Held Equity Interests		CloselyHeldEquityInterestsGrp

Other Securities OtherSecuritiesGrp (4 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
GLOBAL EQUITIES	$633,952,510	F
ABSOLUTE RETURN & LONG /SHORT	$384,376,146	F
PRIVATE EQUITY & REAL ESTATE	$307,972,032	F
OTHER	$4,434,810	F

Field	Value	IRS element (for citing)
Total Book Value Securities	$1,330,735,498	TotalBookValueSecuritiesAmt
Federal Income Tax Liability	$0	FederalIncomeTaxLiabilityAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (7 entries)

DescDesc	AmtAmt
ANNUITIES & DEFERRED GIVING AR	$35,389,644
ASSET RETIREMENT OBLIGATION	$3,384,531
BOND INTEREST RATE SWAP	$21,158,494
STUDENT ORGANIZATION FUNDS	$260,143
PENSION & OTHR EMPLYMNT RLTD	$10,924,471
STUDENT INSURANCE PAYABLE	$23,971
BONDS PAYABLE	$30,000,000

Field	Value	IRS element (for citing)
Total Liability	$101,141,254	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$461,698,591	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$203,651,831	NetUnrealizedGainsInvstAmt
Other Revenue	$13,866,226	OtherRevenueAmt
Revenue Not Reported	$217,518,057	RevenueNotReportedAmt
Revenue Subtotal	$244,180,534	RevenueSubtotalAmt
Investment Expenses Not Incld	$1,438,054	InvestmentExpensesNotIncldAmt
Revenue Not Reported Fincl Stmt	$1,438,054	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$245,618,588	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$132,789,712	TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included	-$6,799,847	OtherExpensesIncludedAmt
Expenses Not Reported	-$6,799,847	ExpensesNotReportedAmt
Expenses Subtotal	$139,589,559	ExpensesSubtotalAmt
Investment Expenses Not Incld2	$1,438,054	InvestmentExpensesNotIncld2Amt
Other Expenses Not Included	$30,125	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$1,468,179	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$141,057,738	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
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 OR CONTRIBUTIONS IN THE STATEMENT OF ACTIVITIES.
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). HOWEVER, THE ACADEMY IS SUBJECT TO FEDERAL INCOME TAXES ON UNRELATED BUSINESS INCOME RELATED TO CERTAIN INVESTMENTS. DURING THE YEARS ENDED JUNE 30, 2021 AND 2020, THE ACADEMY EVALUATED ITS TAX POSITIONS AND CONCLUDED IT DID NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS.
FORM 990, SCHEDULE D, PART XI, LINE 2D	AMOUNTS INCLUDED ON LINE 1, BUT NOT FORM 990, PART VIII, LINE 12 OTHER: COS NETTED AGAINST GROSS REVENUE 117,186 ASSET RETIREMENT OBLIGATION ADJUSTMENT (324,114) CHANGE IN VALUE OF FUNDS FOR DEFFERED GIVING 250,600 SUMMER FINANCIAL AID NETTED AGAINST TUITION (30,125) PV ADJUSTMENTS FOR PHASED RETIREMENT PLAN 435,000 OTHER RECLASSIFICATIONS 13,417,679 __________ TOTAL 13,866,226
FORM 990, SCHEDULE D, PART XII, LINE 2D	AMOUNTS INCLUDED ON LINE 1, BUT NOT ON FORM 990, PART IX, LINE 25 OTHER COMPONENTS OF NET PERIODIC PENSION COST (203,957) INTEREST RATE SWAP ADJUSTMENT 6,893,363 COS NETTED AGAINST GROSS REVENUE (117,186) OTHER RECLASSIFICATIONS 35,296 PENSION RELATED CHANGES OTHER THAN NET PERIODIC PENSION COSTS 192,331 __________ TOTAL 6,799,847
FORM 990, SCHEDULE D, PART XII, LINE 4B	AMOUNTS INCLUDED ON PART IX, LINE 25, BUT NOT ON LINE 1 OTHER: SUMMER FINANCIAL AID NETTED AGAINST TUITION 30,125 __________ TOTAL 30,125

Schedule E IRS990ScheduleE

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

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	RACIALLY NONDISCRIMINATORY POLICY	FormAndLineReferenceDesc
Explanation	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 AND FOREIGN COUNTRIES BY MEANS OF THE ACADEMY APPLICATION FORM AND WEBSITE. THE ACADEMY MEETS THE REQUIREMENTS OF SECTIONS 4.01 THROUGH 4.05 OF REV. PROC 75-50, COVERING RACIAL NONDISCRIMINATION, BECAUSE IT DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS FROM AROUND THE U.S. AND WORLD, ENROLLS STUDENTS OF RACIAL MINORITY GROUPS IN MEANINGFUL NUMBERS, AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS.	ExplanationTxt

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (5 entries)

RegionRegionTxt	Type Of Activities ConductedTypeOfActivitiesConductedTxt	Specific Services ProvidedSpecificServicesProvidedTxt	Region Total ExpendituresRegionTotalExpendituresAmt
Russia and the Newly Independent States	Program Services	STUDY PROGRAM	$2,580
South America	Program Services	Faculty Development	$1,500
Central America and the Caribbean	Investments		$379,059,575
Europe (Including Iceland and Greenland)	Investments		$41,895,930
North America	Investments		$8,055,168

Field	Value	IRS element (for citing)
Subtotal Spent	$429,014,753	SubtotalSpentAmt
Total Spent	$429,014,753	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 ACADEMY USES THE ACCRUAL METHOD OF ACCOUNTING AND REPORTS THE TOTAL BOOK VALUE OF INVESTMENTS IN THE AGGREGATE BY REGION ON THE 990. FOREIGN TRAVEL EXPENSES ARE REPORTED ON THE 990 BASED ON THE ACCRUAL METHOD USED TO ACCOUNT FOR THEM IN THE FINANCIAL STATEMENTS. AT YEAR END THE EXPENSES ARE MANUALLY AGGREGATED BY REGION, ACTIVITY AND TYPE OF SERVICE.	ExplanationTxt

Schedule I IRS990ScheduleI

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

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

Grant TypeGrantTypeTxt	RecipientRecipientCnt	Non Cash AssistanceNonCashAssistanceAmt	Valuation Method UsedValuationMethodUsedDesc	Non Cash AssistanceNonCashAssistanceDesc	Cash GrantCashGrantAmt
REGULAR SESSION SCHOLARSHIP	536	$24,863,222	FMV	Tuition Fees/Assista
REGULAR SESSION OTHER AID	536	$1,095,693	FMV	Other Fin. Assist.	$107,915
SUMMER PROGRAM SCHOLARSHIPS	11	$30,125	FMV	Tuition Fees/Assista

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	MONITORING GRANT FUNDS	FormAndLineReferenceDesc
Explanation	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.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Housing Allowance Or Residence	Yes (X)	HousingAllowanceOrResidenceInd
Club Dues Or Fees	Yes (X)	ClubDuesOrFeesInd
Personal Services	Yes (X)	PersonalServicesInd
Written Policy Ref T And E Expnss	Yes (true)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (true)	SubstantiationRequiredInd
Compensation Committee	Yes (X)	CompensationCommitteeInd
Independent Consultant	Yes (X)	IndependentConsultantInd
Form990 Of Other Organizations	Yes (X)	Form990OfOtherOrganizationsInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	false	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	false	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	false	AnyNonFixedPaymentsInd
Initial Contract Exception	Yes (true)	InitialContractExceptionInd
Rebuttable Presumption Proc	Yes (true)	RebuttablePresumptionProcInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt
JUSTIN MERRILL
DIRECTOR OF INVESTMENTS	$339,014	$190	$32,190	$24,764	$396,158
MORGAN DUDLEY
DIRECTOR INSTITUTIONAL ADV.	$283,800	$396	$34,056	$480	$318,732
HOLLY BARCROFT
GENERAL COUNSEL	$247,807	$60	$29,277	$45,132	$322,276
WILLIAM LEAHY
DEAN OF ENROLLMENT	$196,689	$138	$24,768	$83,036	$304,631
WILLIAM RAWSON
PRINCIPAL	$433,376	$3,462	$34,200	$36,816	$507,854
MARIJKA BEAUCHESNE
CFO	$292,195	$3,410	$32,190	$16,661	$344,456
KATHARINA LILLY
MEDICAL DIRECTOR	$227,040	$2,685	$24,974	$88,287	$342,986

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE J, PART I, LINE 1	THE PRINCIPAL, MEDICAL DIRECTOR AND DEAN OF ENROLLMENT 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. THE MEDICAL DIRECTOR LIVED ON CAMPUS FOR A PORTION OF THE YEAR. THE RESIDENCE OF THE PRINCIPAL IS USED THROUGHOUT THE YEAR FOR ACADEMY RELATED EVENTS. A HOUSEKEEPING SERVICE CLEANS THE RESIDENCE. THE SERVICE IS ALLOCATED BETWEEN THE PUBLIC AND PRIVATE SPACES. CLEANING OF THE PRIVATE RESIDENCE IS INCLUDED IN PRINCIPAL RAWSON'S TAXABLE COMPENSATON.
SCHEDULE J, PART I, LINE 8	THE ACADEMY ENTERED INTO A CONTRACT WITH PRINCIPAL WILLIAM RAWSON EFFECTIVE 7/1/2018 THAT QUALIFIES FOR THE INITIAL CONTRACT EXCEPTION UNDER TREASURY REGULATION SECTION 53.4958-4(A)(3).
SCHEDULE J, PART II, COLUMN (D)	FOR CALENDAR YEAR 2020, WILLIAM RAWSON, KATHERINA LILY AND WILLIAM LEAHY - NONTAXABLE BENEFITS INCLUDE THE VALUE OF ON-CAMPUS HOUSING PROVIDED FOR THE CONVENIENCE OF THE EMPLOYER. FOR CALENDAR YEAR 2020, MORGAN DUDLEY HAD A MEMBERSHIP TO A UNIVERSITY CLUB IN CONNECTION WITH THE ORGANIZATION'S BUSINESS PURPOSES AND INSTITUTIONAL ADVANCEMENT.

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp

Field	Value	IRS element (for citing)
Bond Reference	A	BondReferenceCd

Issuer Name IssuerName

Field	Value	IRS element (for citing)
Business Name Line1	NH HEALTH & EDUCATION FACILITIES AUTHORITY	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Bond Issuer EIN	020279866	BondIssuerEIN
CUSIP	644614SZ3	CUSIPNum
Bond Issued	2016-04-01	BondIssuedDt
Issue Price	$80,000,000	IssuePriceAmt
Purpose	SEE PART VI	PurposeDesc
Defeased	false	DefeasedInd
On Behalf Of Issuer	false	OnBehalfOfIssuerInd
Pool Financing	false	PoolFinancingInd

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp

Field	Value	IRS element (for citing)
Bond Reference	A	BondReferenceCd
Retired	$0	RetiredAmt
Bond Defeased	$0	BondDefeasedAmt
Total Proceeds	$80,130,819	TotalProceedsAmt
In Reserve Fund	$0	InReserveFundAmt
Capitalized Interest	$0	CapitalizedInterestAmt
Refunding Escrow	$0	RefundingEscrowAmt
Issuance Costs From Proceeds	$490,448	IssuanceCostsFromProceedsAmt
Credit Enhancement	$0	CreditEnhancementAmt
Working Capital Expenditures	$0	WorkingCapitalExpendituresAmt
Capital Expenditures	$29,640,371	CapitalExpendituresAmt
Other Spent Proceeds	$50,000,000	OtherSpentProceedsAmt
Unspent	$0	UnspentAmt
Substantial Completion	2018	SubstantialCompletionYr
Refunding Tax Exempt Bonds	Yes (true)	RefundingTaxExemptBondsInd
Final Allocation Made	Yes (true)	FinalAllocationMadeInd
Adequate Books And Rec Maint	Yes (true)	AdequateBooksAndRecMaintInd

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp

Field	Value	IRS element (for citing)
Bond Reference	A	BondReferenceCd
Owning Bond Financed Property	false	OwningBondFinancedPropertyInd
Any Lease Arrangements	false	AnyLeaseArrangementsInd
Mgmt Contract Bond Fincd Prop	false	MgmtContractBondFincdPropInd
Any Research Agreements	false	AnyResearchAgreementsInd
Private Bus Use By Others	0	PrivateBusUseByOthersPct
Private Bus Concerning UBI	0.00259	PrivateBusConcerningUBIPct
Total Private Business Use	0.00259	TotalPrivateBusinessUsePct
Bond Iss Meet Prvt Sec Pymt Test	false	BondIssMeetPrvtSecPymtTestInd
Change In Use Bond Financed Prop	false	ChangeInUseBondFinancedPropInd
Remedial Action Taken	false	RemedialActionTakenInd
Procs Nonqualified Bond Remdtd	Yes (true)	ProcsNonqualifiedBondRemdtdInd

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp

Field	Value	IRS element (for citing)
Bond Reference	A	BondReferenceCd
Form8038 T Filed	false	Form8038TFiledInd
Rebate Not Due Yet	Yes (true)	RebateNotDueYetInd
Variable Rate Issue	Yes (true)	VariableRateIssueInd
Hedge Identified In Bks And Rec	Yes (true)	HedgeIdentifiedInBksAndRecInd

Hedge Provider Name HedgeProviderName

Field	Value	IRS element (for citing)
Business Name Line1	BNY MELLON	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Term Of Hedge	34.25	TermOfHedgePct
Superintegrated Hedge	false	SuperintegratedHedgeInd
Hedge Terminated	false	HedgeTerminatedInd
Gross Proceeds Invested In GIC	false	GrossProceedsInvestedInGICInd

GIC Provider Name GICProviderName

Field	Value	IRS element (for citing)
Business Name Line1	0	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Gross Proceeds Invested	false	GrossProceedsInvestedInd
Written Proc To Monitor Reqs	Yes (true)	WrittenProcToMonitorReqsInd

Procedures Corrective Action ProceduresCorrectiveActionGrp

Field	Value	IRS element (for citing)
Bond Reference	A	BondReferenceCd
Procedures Corrective Action	Yes (true)	ProceduresCorrectiveActionInd

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
SCHEDULE K, PART I, LINE A, COLUMN F	BOND PURPOSE : CAPITAL CONSTRUCTION AND REFUNDING OF 2007 BOND
SCHEDULE K, PART II, LINE 3	INCLUDES INTEREST EARNED OF $130,819

Schedule M IRS990ScheduleM

Field	Value	IRS element (for citing)
Works Of Art		WorksOfArtGrp
Art Historical Treasures		ArtHistoricalTreasuresGrp
Art Fractional Interest		ArtFractionalInterestGrp

Books And Publications BooksAndPublicationsGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Method Of Determining Revenues	N/A	MethodOfDeterminingRevenuesTxt

Field	Value	IRS element (for citing)
Clothing And Household Goods		ClothingAndHouseholdGoodsGrp

Cars And Other Vehicles CarsAndOtherVehiclesGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	1	ContributionCnt
Method Of Determining Revenues	N/A	MethodOfDeterminingRevenuesTxt

Field	Value	IRS element (for citing)
Boats And Planes		BoatsAndPlanesGrp
Intellectual Property		IntellectualPropertyGrp

Securities Publicly Traded SecuritiesPubliclyTradedGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	135	ContributionCnt
Noncash Contributions Rpt F990	$3,539,863	NoncashContributionsRptF990Amt
Method Of Determining Revenues	FMV	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

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	1	ContributionCnt
Method Of Determining Revenues	N/A	MethodOfDeterminingRevenuesTxt

Field	Value	IRS element (for citing)
Scientific Specimens		ScientificSpecimensGrp
Archaeological Artifacts		ArchaeologicalArtifactsGrp
Any Property That Must Be Held	false	AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts	Yes (true)	ReviewProcessUnusualNCGiftsInd
Third Parties Used	false	ThirdPartiesUsedInd

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

SCHEDULE M, PART I, COLUMN (B)

THE NUMBER OF CONTRIBUTIONS ARE USED FOR REPORTING THE LIST OF NONCASH CONTRIBUTIONS.

SCHEDULE M, PART I, LINE 33

GIFTS IN KIND LISTED IN PART I OF SCHEDULE M THAT ARE NOT LIQUIDATED AND ARE IMMATERIAL IN NATURE ARE CONSIDERED PART OF THE ACADEMY'S COLLECTIONS AND MAY INCLUDE WORKS OF ART, LITERARY WORK, HISTORICAL TREASURES AND ARTIFACTS. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH. THESE COLLECTIONS ARE NOT RECOGNIZED AS ASSETS OR CONTRIBUTIONS IN THE ACADEMY'S FINANCIAL STATEMENTS.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
MISSION STATEMENT AND VALUES	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. 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.
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 2020-2021 WAS 1,090. 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. FORM 990, PART III, LINE 4B PHILLIPS EXETER ACADEMY'S SUMMER SCHOOL: TYPICALLY, EVERY SUMMER PHILLIPS EXETER ACADEMY'S SUMMER SCHOOL, WHICH HAS BEEN IN OPERATION SINCE 1919, WELCOMES STUDENTS TO CAMPUS 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, AND 50 COUNTRIES. FOR SUMMER 2020, SUMMER SCHOOL WAS HELD ONLINE FOR APPROXIMATELY 168 STUDENTS FOR FIVE WEEKS DUE TO PANDEMIC CONDITIONS.
GOVERNING BODY AND MANAGEMENT	FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE WHICH CONSISTS OF THE PRESIDENT, THE VICE PRESIDENT, THE PRINCIPAL AND NOT FEWER THAN TWO OTHER TRUSTEES SHALL HAVE THE POWERS OF THE TRUSTEES IN THE INTERVALS BETWEEN TRUSTEES' MEETINGS. THEY MAY ACT, ON BEHALF OF THE TRUSTEES, UPON ALL MATTERS EXCEPT THOSE WHICH, IN THE OPINION OF THE COMMITTEE SHOULD AWAIT THE NEXT MEETING OF THE TRUSTEES. ALL ACTION SO TAKEN SHALL BE DEEMED THE ACTION OF THE TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE GENERAL ALUMNI/AE ASSOCIATION (GAA) BOARD OF DIRECTORS CONSISTS OF 20 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 2-6 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 AND OUTSIDE ADVISORS. 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, EXCEPT TWO ANONYMOUS DONORS LISTED ON SCHEDULE B, 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 12 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, AT THE END OF THE FISCAL YEAR AND BEFORE THE SUBMISSION OF FORM 990, EACH TRUSTEE, OFFICER AND/OR KEY EMPLOYEE IS PROVIDED WITH A QUESTIONNAIRE REQUIRING DISCLOSURE OF ANY CONFLICTS OF INTEREST THAT MAY HAVE EXISTED DURING THE PRIOR FISCAL YEAR.
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 AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S STATEMENT OF FINANCIAL POSITION AND STATEMENT OF ACTIVITIES ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE.
RECONCILIATION OF CHANGE IN NET ASSETS	FORM 990, PART XI, OTHER CHANGES, LINE 9 CHANGE IN VALUE OF FUNDS FOR DEFFERRED GIVING 250,600 PENSION RELATED CHARGES OTHER THAN NET PERIODIC PENSION COST 192,331 OP/NON OP TRANSFER 13,417,679 INTEREST RATE SWAP ADJUSTMENT (EB) 6,893,363 OTHER COMPONENTS OF NP PENSION COST (203,957) MISCELLANEOUS 154,607 ___________ TOTAL OTHER CHANGES, LINE 9 $ 20,704,623

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (4 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Exempt Code SectionExemptCodeSectionTxt	Public Charity StatusPublicCharityStatusTxt	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Controlled OrganizationControlledOrganizationInd
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)	12D, III-O	NA	false
YOUCUM FAMILY PERPETUAL CHARITABLE TRUST
1100 N MARKET ST	WILMINGTON	DE	19890	237704439	SCHOLARSHIP	PA	501(C)(3)	12O, III-O	NA	false
TUW PHILENA R PEABODY-LLOYD 01-34608
PO BOX 803878	CHICAGO	IL	60680	366088658	SCHOLARSHIP	IL	501(C)(3)	12O, III-O	NA	false

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)

Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Entity TypeEntityTypeTxt	Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd
POOLED INCOME FUND (2)
FUNDRAISING	NH	NA	T
CHARITABLE REMAINDER TRUST (87)
FUNDRAISING		NA	T	SEE SCHEDULE R PART VII FOR LEGAL	DOMICILE COLUMN C	NH	03833

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

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART IV, LINE (2), COLUMN (C)	FormAndLineReferenceDesc
Explanation	CA, DE, FL, IA, IL, MA, MI, NC, NH, NJ, NY, OH, PA, RI, TX	ExplanationTxt