SCHOLARSHIP ENDOWMENT

The Philips Academy Scholarship Endowment plays a critical role in allowing the school to fulfill its mission and ensure long-term financial stability. Endowment funds provide scholarships to students who meet criteria for need-based assistance and brings an education within reach for students who might not otherwise be able to afford it.

KEY METRICS

45%

percent of Philips Academy students receive scholarships annually

68%

percent of Philips Academy students receive financial assistance from at least one scholarship source

$160k

in total scholarships Philips Academy provided to students with demonstrated financial need in the 2021-22 school year

Endowment Overview

Need-based scholarship awards usually range between $3,000 and $12,000 per year for each recipient. The number of awards will be determined by the amount of the endowment, the amount of earnings on the endowment, and the need demonstrated by the students who apply annually.

Without the scholarship funds it would have been very hard for us to afford it. We have come to see Philips as a family of people who care for our child in a way that is unmatched. - Parent of Student

I don't know what we would do for her education without Philips Academy...she feels like an important member of society and the confidence that she has shown in the community is greatly attributed to attending such a special school for special kids and young adults. Thank you so much for your generous financial help for her to continue attending! - Parent of Student

Donors are motivated to contribute to the scholarship endowment for many reasons. You may decide to contribute because...

You want to make a difference for a student who would benefit from your gift

You want to create a memorial to someone you love by naming a scholarship for them

You are grateful for the gifts you have received in your life and want to give back

Giving is a part of your financial or estate planning and it has tax advantages

General Endowment Scholarships

This fund enables Philips Academy to pool the resources of many donors to make need-based scholarship awards. Scholarships are awarded to students who meet established need-based criteria. The number of scholarships and amount given will vary based subject to the fund's earnings. Gifts of any amount are welcome.

Named Endowment Scholarships

This type of fund establishes an individual scholarship that will benefit future generations in perpetuity. Benefactors of the named endowment scholarship may establish the scholarship in their own name or in memory or honor of another.

Named Endowment Scholarship donors may not select preferential award criteria. The endowed fund’s principal stays intact permanently with a percentage of the earnings allocated for scholarship support. A named endowment scholarship is established with a minimum gift of $250,000. Donors may continue to add to the endowment at any time.

For more information, contact Deborah Hofland:704-365-4533dhofland@philipsacademync.org

Endowment Donors

The James Tyler Smith Scholarship
  • Jennifer and Mike Smith
Friends of Philips Academy Scholarship Endowment
  • Cary and Michael Sherck
  • Howard Levine Foundation
  • Dr. Paul and Barbara Galentine
  • Fran and Jim Reichard
  • The Richards Foundation
  • Sarah and Tim Belk

Philips Academy has been a blessing to our family and we are proud to support the endowment to help other families and their children who need the specialized education and life skills that the school offers. - Jennifer and Mike Smith

We believe in the school’s mission and are so thankful for all they did for our daughter in her short time there. - Cary and Michael Sherck

Endowment FAQs

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