Phillips Exeter Academy

“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.”

“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 2013-2014 was 1,060. 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: every summer phillips exeter academy's summer school, which has been in operation since 1919, welcomes to campus some 780 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, and 50 countries. Summer teachers' conferences: one-week conferences are for secondary teachers from public and private schools. The math, science and technology 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. Participants in the writer's workshop come away from this five-day working program armed with a more defined and professional approach to teaching writing in the classroom, and a portfolio of new work for continued development. 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. Exeter diversity institute is a five day conference for humanities teachers to explore the role social identity issues play in a student-centered harkness classroom. Teachers learn to broaden their understanding of themselves as english and history teachers for students from divergent backgrounds. Conference attendees live and learn with teachers from diverse backgrounds: public schools, independent schools, veterans and newcomers. 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 four day workshops offered during the summer in eight different american school districts.”

“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 27 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, 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 presents the form 990 to the audit committee for review and comment. The completed form 990, excluding the name of anonymous donors, is provided to all members of the board of trustees prior to the form being filed with the irs.”

“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.”

“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.”

“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 in the annual financial report.”

“Form 990, part xi, line 9 change in value in funds held for deferred giving $ 740,570 pension related charges other than net periodic pension cost ($ 7,172,467) interest rate swap adjustment ($ 1,033,431) op/nonop transfers ($32,327,017) miscellaneous $ 556,976 -------------- total ($39,235,369)”