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How Financially Fit 
Is Your School?


Schools are heavily reliant on tuition and annual giving to stay afloat. Most schools would run a deficit if they didn’t have donors to make up the difference. It's important to note that losing any tuition in a non-entry point grade puts stress on the institution as it isn’t always easy to fill those seats. Parents should vote with their wallets and give to the annual fund/capital campaign only if they are happy with the direction of the school.


Read the school’s annual report to familiarize yourself with the school finances, including the sources and uses of funds.

Read the school's annual report

  • How big is the endowment, budget, and annual giving?

  • How much financial aid is given?

  • What % of parents give annually? Alums? Has it changed over time?

  • How much debt does the school have?

  • When is the next capital campaign?

  • Schools care as much about participation rates as they do overall giving. Vote with your wallet if you are unhappy with what is going on at your school, which means giving nothing.

  • If you want more financial details, review your school’s 990 form, which is publicly available.

Helpful links

Phillips Academy

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