Phillips Exeter Academy

What it reported doing in 2024

See schedule ophillip exeter academy's primary program service is the education of students in grades 9 through 12 in a residential boarding school environment. Approximately 20% of students are day students and do not reside on campus. Enrollment for 2024-2025 was 1,106. 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, exeter views its charge as providing students with a broad, liberal arts program that creates a strong foundation for continuing study at the college and university level. 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.every year, students come to us from around the world and are admitted without regard to the family's ability to pay. The academy is committed to meeting the full demonstrated financial need of each admitted student and approximately half of all admitted students receive financial aid.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 86.3%; rating input score 86
• Fundraising efficiency: $3.55 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 95.5%; rating input score 95; 48th percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 30.6%; rating input score 92; 92nd percentile among comparable filings
• Total-asset coverage ratio: 13.2; rating input score 93; 93rd percentile among comparable filings
• Liabilities to assets ratio: 0.08; rating input score 85; 85th percentile among comparable filings
• Officer compensation ratio: 1.9%; rating input score 57; 57th percentile among comparable filings

Growth

• Program expense growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings
• Revenue growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings
• Asset growth: 3.8% per year; rating input score 100; 26th percentile among comparable filings