ANDOVER, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)TRUSTEES OF PHILLIPS ACADEMY, founded in 1778, is a major nonprofit in the Education sector that reported $207.9M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $46.0M, a strong 22% operating margin.
FIRST CLASS OR CHARTER TRAVEL: THOMAS P. LOCKERBY AND JAMES F. VENTRE FLEW FIRST-CLASS TRAVEL FOR A BUSINESS EVENT IN A FOREIGN COUNTRY. THIS IS NOT TAXABLE INCOME TO THEM DUE TO DOCUMENTED BUSINESS PURPOSE. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: FERNANDO R. ALONSO, JEFFREY C. DOMINA, RAYNARD S. KINGTON, MERRILEE MARDON, RAJESH MUNDRA, AMY PATEL, AND JAMES F. VENTRE RECEIVED HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. THE ACADEMY HAS VALUED HOUSING AT 5% OF THE APPRAISED VALUE OF THE HOME AS DETERMINED BY THE ASSESSOR'S OFFICE OF THE TOWN OF ANDOVER, MASSACHUSETTS, WHERE THE ACADEMY IS LOCATED. SUCH AMOUNTS ARE NOT TAXABLE COMPENSATION. PERSONAL SERVICES: IN ADDITION TO HOUSING THE HEAD OF SCHOOL, HIS RESIDENCE IS USED THROUGHOUT THE YEAR FOR NUMEROUS FUNDRAISING EVENTS, PARTIES, MEETINGS, AND OTHER ACADEMY-RELATED GATHERINGS. TIME SPENT BY A HOUSEKEEPER IN THE RESIDENCE IS IDENTIFIED AS EITHER CLEANING OF THE RESIDENCE, WHICH IS ASCRIBED AS INCOME TO THE HEAD OF SCHOOL, OR OF THE PUBLIC SPACE, WHICH IS NOT INCOME TO THE HEAD OF SCHOOL.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $207,899,000 | $186,768,593 | +0.1% |
| Expenses | $161,869,538 | $150,737,144 | +0.1% |
| Net Income | $46,029,462 | $36,031,449 | +0.3% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| KIRSTEN A GLANTZ | CHIEF INVESTMENT OFFICER | 55.0 |
Key Emp
|
$1,012,670 | $86,032 | $1,098,702 |
| RAYNARD S KINGTON | HEAD OF SCHOOL / TRUSTEE | 60.0 |
Officer
Director
|
$706,365 | $306,312 | $1,012,677 |
| THOMAS P LOCKERBY | SECRETARY OF THE ACADEMY | 55.0 |
Key Emp
|
$452,096 | $114,523 | $566,619 |
| FERNANDO R ALONSO | ASST HEAD OF SCHOOL/CFO | 55.0 |
Officer
|
$335,078 | $119,910 | $454,988 |
| CHRISTIAN A REUSCHE | ASSOC DIRECTOR OF INVESTMENTS | 55.0 |
Highest
|
$383,283 | $53,191 | $436,474 |
| XUE YANG | ASSOC DIRECTOR OF INVESTMENTS | 55.0 |
Highest
|
$357,836 | $52,075 | $409,911 |
| ANDREW JAFFONI | ASSOC DIRECTOR OF INVESTMENTS | 55.0 |
Highest
|
$354,976 | $53,011 | $407,987 |
| AMY PATEL | CHIEF MEDICAL OFFICER | 55.0 |
Highest
|
$254,173 | $141,370 | $395,543 |
| JEFFREY C DOMINA | DEAN OF FACULTY | 55.0 |
Key Emp
|
$172,168 | $186,224 | $358,392 |
| JAMES F VENTRE | ASST HEAD OF SCHOOL ADMISSION | 55.0 |
Key Emp
|
$209,689 | $146,071 | $355,760 |
| JESSICA L HERBSTER | GENERAL COUNSEL | 55.0 |
Highest
|
$244,474 | $76,912 | $321,386 |
| MERRILEE MARDON | DEPUTY HEAD OF SCHOOL ACADEMIC | 55.0 |
Key Emp
|
$150,017 | $102,346 | $252,363 |
| J LAWRENCE MUENCH | DIRECTOR OF FACILITIES | 55.0 |
Key Emp
|
$203,766 | $24,483 | $228,249 |
| RAJESH MUNDRA | INTERIM DEPUTY HEAD OF SCHOOL | 55.0 |
|
$125,717 | $48,158 | $173,875 |
| CHRISTOPER S AUGUSTE | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| GIL CAFFRAY | TRUSTEE/TREASURER | 3.0 |
Officer
Director
|
$0 | $0 | $0 |
| AMY CHRISTODOULO | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| DAVID J CORKINS | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| AMY C FALLS | TRUSTEE/PRESIDENT | 3.0 |
Officer
Director
|
$0 | $0 | $0 |
| KEITH T FLAHERTY | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| ANDREW J GUFF JR | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| STEFAN L KALUZNY | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| TRISTIN BATCHELDER MANNION | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| CARLOS MONTEMAYOR | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| ALLISON E PICOTT | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| TAMARA ELLIOTT ROGERS | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| STACY SCHIFF | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| MICHAEL SCHMERTZLER | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| YICHEN ZHANG | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| ERIC L ZINTERHOFER | TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| JENNIFER AMSTUTZ | ALUMNI TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| SANJIV DESAI | ALUMNI TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| CHRISTOPHER JWB LEGGETT | ALUMNI TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| AISHA JORGE MASSENGILL | ALUMNI TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| LOYCE LASHAWNDRA PACE | ALUMNI TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| WILLIAM M TONG | ALUMNI TRUSTEE | 3.0 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 2024 | $207,899,000 | $161,869,538 | $2,008,258,462 | $46,029,462 |
| 2023 | $186,768,593 | $150,737,144 | $1,911,522,647 | $36,031,449 |
| 2022 | $241,100,696 | $142,673,387 | $1,868,875,809 | $98,427,309 |
| 2021 | $191,095,685 | $129,086,973 | $1,957,778,755 | $62,008,712 |
| 2020 | $233,355,240 | $131,672,513 | $1,634,666,152 | $101,682,727 |
| 2019 | $212,597,502 | $138,162,537 | $1,623,486,435 | $74,434,965 |
| 2018 | $191,983,200 | $131,738,933 | $1,577,019,726 | $60,244,267 |
Compare TRUSTEES OF PHILLIPS ACADEMY with other nonprofits in Massachusetts and across the country.