The Abbot
After the merger, $1 million of Abbot's endowment became the basis for the Abbot Academy Association, which funds various educational programs and projects submitted by students, faculty, and staff. Since the first Abbot Grant was awarded in the fall of 1973, nearly 2000 Abbot Grant proposals have been submitted by students and members of the faculty, staff and administration of Phillips Academy. The Abbot Academy Association has funded more than 1400 of these proposals with grants totaling $9,400,000. In 2014, the Abbot Academy Association's endowment had grown to $10 million.