Top 10 Richest Prep Schools for 2014: Biggest Endowments

The Andovers and Exeters of the world use huge funds to pay for operations, tuition

Andover and Exeter are among the oldest, the most famous and the richest prep schools in the United States. Andover and Exeter are among the oldest, the most famous and the richest prep schools in the United States.

Running an educational institution has grown ever-more expensive and, as we noted in a recent article, many public and private colleges rely on huge endowments to help pay for operational costs and, in some cases, to keep tuition costs lower.

But what about prep schools? They have the same issues. The Andovers and Exeters of the world need a lot of cash to keep their schools running and to make sure they can attract a diverse student population.

We looked at the Top 10 Richest Prep Schools for 2014, based on data from BoardingSchoolReview.com. The site, founded by two boarding school alumni, explains that the schools update the endowment information on the site. In addition, the site offers reviews and detailed information of schools.

(Check out the Top 20 Richest Colleges for 2013 of ThinkAdvisor.)

While none of the schools on our list has cracked the billion-dollar mark, Exeter is close. For the most part, the schools on the list were founded in the mid- to late 19th century, although Phillips Exeter and Phillips Andover were started a hundred years before that by members of the same family.

Check out our Top 10 Richest Prep Schools for 2014: Biggest Endowments.

Woodberry Forest School

10. Woodberry Forest School, $271 million

Location: Woodberry Forest, Va.

Type: All Boys

Grades: 9-12

Enrollment: 408

Founded: 1889

Choate Rosemary Hall, Memorial House dorm. (Photo: Wikimedia Commons) 

9. Choate Rosemary Hall, $319 million

Location: Wallingford, Conn.

Type: Coeducational

Grades: 9-12 and one year post-graduate option

Enrollment: 865

Founded: 1890

Students set the record for the biggest pie fight for charity at the Lawrenceville School. (Photo: AP)

8. Lawrenceville School, $320 million

Location: Lawrenceville, N.J.

Type: Coeducational

Grades: 9-12 and one year post-graduate option

Enrollment: 816

Founded: 1810

The Huffington Library on the campus of Culver Academy (Photo: Gary Mills)

7. Culver Academies, $322 million

Location: Culver, Ind.

Type: Coeducational

Grades: 9-12

Enrollment: 810

Founded: 1894

Groton School Schoolhouse.

6. Groton School, $330 million

Location: Groton, Mass.

Type: Coeducational

Grades: 8-12

Enrollment: 371

Founded: 1884

The Hotchkiss School main building. (Photo: Wikimedia Commons)

5. The Hotchkiss School, $362 million

Location: Lakeville, Conn.

Type: Coeducational

Grades: 9-12 and one year post-graduate option

Enrollment: 600, plus a few post-graduates

Founded: 1891

Deerfield Academy main building. (Photo: Wikimedia Commons) 

4. Deerfield Academy, $398 million

Location: Deerfield, Mass.

Type: Coeducational

Grades: 9-12 and one year post-graduate option

Enrollment: 630

Founded: 1797

Chapel at St. Paul's School. (Photo: Wikimedia Commons) 

3. St. Paul’s School, $483 million

Location: Concord, N.H.

Type: Coeducational

Grades: 9-12

Enrollment: 548

Founded: 1856

Samuel Phillips Hall at Phillips Academy. (Photo: Wikimedia Commons) 

2. Andover (Phillips Academy Andover), $800 million

Location: Andover, Mass.

Type: Coeducational

Grades: 9-12 and one year post-graduate option

Enrollment: 1,129

Founded: 1778

Phillips Exeter Academy main building. (Photo: Wikimedia Commons) 

1. Exeter (Phillips Exeter Academy), $902 million

Location: Exeter, N.H.

Type: Coeducational

Grades: 9-12 and one year post-graduate option

Enrollment: 1,085

Founded: 1781

-- Related stories on ThinkAdvisor:

Page 1 of 11
Single page view Reprints Discuss this story
This is where the comments go.