2018-05-14T08:26:14-05:00 2017-06-30 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2016-07-01 231352683 SWARTHMORE COLLEGE % ALICE TURBIVILLE SWAR 6103288000 500 COLLEGE AVENUE SWARTHMORE PA 19081 GREGORY N BROWN VP FIN, ADM & TREAS 6103288000 2018-05-14 true ANTONIO C RUSSO P00858539 2673303000 2016 2022-09-23 18:48:47Z GREGORY N BROWN 500 COLLEGE AVENUE SWARTHMORE PA 19081 1182827688 false X www.swarthmore.edu X 1864 PA SEE ATTACHMENT 1 37 36 2672 1561 2184295 -3511007 22091000 35060000 94355000 100805000 77988488 104490404 7197528 10919422 201632016 251274826 34532000 38218000 0 0 83698698 90036711 81701 79043 5732254 69728959 76545377 188041358 204879131 13590658 46395695 2278885000 2482276000 347224000 348669000 1931661000 2133607000 X SWARTHMORE COLLEGE IS AN INSTITUTION DEDICATED TO THE FINEST UNDERGRADUATE EDUCATION, COMMITTED TO MAKING A SIGNIFICANT INTELLECTUAL CONTRIBUTION, AND RESOLVED TO BE A MICROCOSM OF, AND PREPARE LEADERSHIP FOR A MORE JUST WORLD. OUR MISSION IS TO PROVIDE AN EDUCATIONAL EXPERIENCE THAT HAS AT ITS CORE A COMMITMENT BOTH TO INTELLECTUAL VIGOR AND TO THE RESPONSIBILITY TO USE THAT VIGOR TO ADVANCE THE CONDITIONS OF HUMANITY. THE COLLEGE SEEKS TO DO THIS THROUGH AN EXCEPTIONAL ACADEMIC PROGRAM AND SUPPORTED BY PURPOSEFUL EXPERIENCES OUTSIDE OF THE CLASS ROOM. CENTRAL TO THE COLLEGE'S MISSION IS RECOGNITION OF THE FACT THAT STUDENT LEARN BOTH INSIDE AND OUTSIDE THE CLASSROOM. false false 156374770 38218000 100805000 SWARTHMORE IS A CO-EDUCATIONAL COLLEGE OF LIBERAL ARTS AND ENGINEERING DEDICATED TO INTELLECTUAL EXPLORATION, ACCESS, AND EDUCATING FOR THE COMMON GOOD. THE AVERAGE ENROLLMENT FOR FISCAL YEAR 2016-17 WAS 1,620. THERE WERE 233 STUDENTS STUDYING ABROAD. OF THE TOTAL STUDENT POPULATION, 1,404 COME FROM ACROSS THE UNITED STATES WHILE 216 COME FROM OTHER NATIONS. SWARTHMORES COMMITMENT TO FINANCIAL AID AND ACCESS IS AT THE CORE OF OUR EDUCATIONAL MISSION. THE COLLEGE STRIVES TO MAKE IT POSSIBLE FOR ALL ADMITTED STUDENTS TO ATTEND SWARTHMORE, REGARDLESS OF THEIR ABILITY TO PAY, AND MEETS 100 PERCENT OF DETERMINED NEED FOR ALL ADMITTED STUDENTS. NEARLY 60 PERCENT OF THE CLASS OF 2021 RECEIVED NEED-BASED SWARTHMORE SCHOLARSHIP AID FROM AN OVERALL FINANCIAL AID BUDGET OF JUST UNDER $40 MILLION. SWARTHMORE'S AID AWARDS CONSIST OF GRANTS (WHICH DO NOT NEED TO BE REPAID) AND THE EXPECTATION THAT STUDENTS WILL WORK IN A PART-TIME CAMPUS-BASED JOB. THE COLLEGE'S FINANCIAL AID AWARDS ARE LOAN-FREE. SWARTHMORES 425-ACRE ARBORETUM CAMPUS INCLUDES THE CRUM WOODS, A NATURALLY WOODED AREA COMPRISING NEARLY THREE-FIFTHS OF THE COLLEGE'S LAND. IN 2015, THE COLLEGE LAUNCHED ITS ENVIRONMENTAL SUSTAINABILITY FRAMEWORK, A SET OF GUIDELINES FOR CAPITAL PROJECTS AND FACILITIES OPERATIONS THAT INCLUDES SUSTAINABLE BUILDING GUIDELINES AND A PROJECT CHECKLIST. THE FOLLOWING YEAR, THE COLLEGE INSTITUTED A CARBON CHARGE THAT PROVIDES FUNDING FOR CAMPUS INITIATIVES AND PROJECTS THAT INCREASE ENERGY CONSERVATION AND EFFICIENCY AND PROMOTE RENEWABLE ENERGY. SWARTHMORE WAS HONORED TO RECEIVE A 2017 SUSTAINABLE CAMPUS EXCELLENCE AWARD IN THE INNOVATIVE COLLABORATION CATEGORY FROM THE INTERNATIONAL SUSTAINABLE CAMPUS NETWORK FOR OUR CARBON CHARGE PROGRAM. SWARTHMORE COLLEGE IS COMMITTED TO THE PRINCIPLE OF EQUAL OPPORTUNITY FOR ALL QUALIFIED PERSONS, WITHOUT DISCRIMINATION AGAINST ANY PERSON BY REASON OF SEX, RACE, COLOR, AGE, RELIGION, NATIONAL ORIGIN, HANDICAP, OR SEXUAL ORIENTATION. THIS POLICY IS CONSISTENT WITH RELEVANT GOVERNMENTAL STATUES AND REGULATIONS, INCLUDING THOSE PURSUANT TO TITLE IX OF THE FEDERAL EDUCATION AMENDMENTS OF 1972 AND SECTION 504 OF THE FEDERAL REHABILITATION ACT OF 1973. 156374770 true true false false false false false true false true true true false false true true false true true false true false false true true false false false true true true true true true false false true false true false false true true false false true true true true false false true 2195 0 true 2672 true true true false false false false true true false false false false X 37 36 true false false false false false false true true false false true true true true true true true true false PA X X ALICE TURBIVILLE 6109576040 500 COLLEGE AVENUE SWARTHMORE PA 19081 X RICHARD A BARASCH TRUSTEE 4.0 0.0 X 0 0 0 WILLIAM BOULDING TRUSTEE 2.0 0.0 X 0 0 0 RHONDA RESNICK COHEN TRUSTEE 4.0 0.0 X 0 0 0 JANET SMITH DICKERSON TRUSTEE 4.0 0.0 X 0 0 0 ELIZABETH ECONOMY TRUSTEE 2.0 0.0 X 0 0 0 JANET ERLICK TRUSTEE/EX OFFICIO BOARD MBR 2.0 0.0 X 0 0 0 JAMES E GREGORY TRUSTEE 4.0 0.0 X 0 0 0 THOMAS WT HARTNETT TRUSTEE 4.0 0.0 X 0 0 0 MARILYN HOLIFIELD TRUSTEE 4.0 0.0 X 0 0 0 JAMES C HORMEL TRUSTEE 2.0 0.0 X 0 0 0 S LESLIE JEWETT TRUSTEE 2.0 0.0 X 0 0 0 VINCENT JONES TRUSTEE 2.0 0.0 X 0 0 0 JAKY JOSEPH TRUSTEE 4.0 0.0 X 0 0 0 HAROLD KALKSTEIN TRUSTEE 2.0 0.0 X 0 0 0 GILES K KEMP TRUSTEE 4.0 0.0 X 0 0 0 JANE LANG TRUSTEE 2.0 0.0 X 0 0 0 CINDI LEIVE TRUSTEE 2.0 0.0 X 0 0 0 BENNETT LORBER TRUSTEE 2.0 0.0 X 0 0 0 JAMES LOVELACE TRUSTEE 4.0 0.0 X 0 0 0 SABRINA MARTINEZ TRUSTEE 2.0 0.0 X 0 0 0 DAVID MCELHINNY TRUSTEE 2.0 0.0 X 0 0 0 DANIELLE MOSS TRUSTEE 4.0 0.0 X 0 0 0 CHRISTOPHER M NIEMCZEWSKI TRUSTEE 4.0 0.0 X 0 0 0 NICOLE O'DELL ODIM TRUSTEE 4.0 0.0 X 0 0 0 SIBELLA CLARK PEDDER TRUSTEE 2.0 0.0 X 0 0 0 CATHRYN POLINSKY TRUSTEE 4.0 0.0 X 0 0 0 H VINCENT POOR TRUSTEE 2.0 0.0 X 0 0 0 LOURDES ROSADO TRUSTEE 2.0 0.0 X 0 0 0 GUSTAVO SCHWED TRUSTEE 4.0 0.0 X 0 0 0 JUNE R SCOTT TRUSTEE 2.0 0.0 X 0 0 0 ROBIN M SHAPIRO TRUSTEE 4.0 0.0 X 0 0 0 SALEM D SHUCHMAN TRUSTEE 4.0 0.0 X 0 0 0 DAVID W SINGLETON TRUSTEE 4.0 0.0 X 0 0 0 THOMAS E SPOCK CHAIR 6.0 0.0 X X 0 0 0 SUJATHA SRINIVASAN TRUSTEE 4.0 0.0 X 0 0 0 ROBERT STEELMAN TRUSTEE 2.0 0.0 X 0 0 0 DAVIA TEMIN TRUSTEE 2.0 0.0 X 0 0 0 JOSEPH L TURNER TRUSTEE 4.0 0.0 X 0 0 0 JULIE LANGE HALL EMERITA TRUSTEE 2.0 0.0 X 0 0 0 SAMUEL L HAYES III EMERITUS TRUSTEE 2.0 0.0 X 0 0 0 EUGENE M LANG EMERITUS CO-CHAIR 2.0 0.0 X 0 0 0 BARBARA W MATHER EMERITUS CO-CHAIR 2.0 0.0 X 0 0 0 ELIZABETH J McCORMACK EMERITA TRUSTEE 2.0 0.0 X 0 0 0 MARGE PEARLMAN SCHEUER EMERITA TRUSTEE 2.0 0.0 X 0 0 0 J LAWRENCE SHANE EMERITUS TRUSTEE 2.0 0.0 X 0 0 0 VALERIE SMITH PRES./EX OFFICIO BOARD MEMBER 40.0 0.0 X X 436481 0 178781 MARK C AMSTUTZ CHIEF INVESTMENT OFFICER 40.0 0.0 X 300580 0 44270 JAMES L BOCK III DEAN OF ADMISSIONS & FIN. AID 40.0 0.0 X 217503 0 43716 H ELIZABETH BRAUN DEAN OF STUDENTS 40.0 0.0 X 199949 0 89746 GREGORY N BROWN VP FIN & ADMIN & TREASURER 40.0 0.0 X 338646 0 44270 KARL W CLAUSS VP OF COLLEGE ADVANCEMENT 40.0 0.0 X 274374 0 127714 C STUART HAIN VP FACILITIES & SERVICES 40.0 0.0 X 225100 0 23816 LORI ANN JOHNSON ASSISTANT TREASURER 40.0 0.0 X 113443 0 19471 NANCY NOWICKI NICELY SECRETARY & VP COMMUNICATIONS 40.0 0.0 X 232006 0 44943 PAMELA PRESCOD-CAESAR VP HUMAN RESOURCES 40.0 0.0 X 190435 0 41001 THOMAS STEPHENSON PROVOST 40.0 0.0 X 258205 0 90942 FRANK C GRUNSEICH DIRECTOR OF INVESTMENTS 40.0 0.0 X 224110 0 44477 FRANK MOSCATELLI PROFESSOR 40.0 0.0 X 426399 0 11292 ALLEN SCHNEIDER PROFESSOR 40.0 0.0 X 228882 0 36259 NELSON MACKEN PROFESSOR 40.0 0.0 X 216245 0 39362 ARTHUR MCGARITY PROFESSOR 40.0 0.0 X 209910 0 35921 BARRY SCHWARTZ PROFESSOR 40.0 0.0 X 203403 0 23296 EILEEN E PETULA FMR TREAS & ASSOC VP FOR FIN. 40.0 0.0 X 131942 0 38802 CONSTANCE HUNGERFORD FORMER PRESIDENT 40.0 0.0 X 207611 0 38466 4635224 0 1016545 174 true true false WS CUMBY SON INC 938 LINCOLN AVENUE SPRINGFIELD PA 19064 Building Services 18024163 BALLINGER COMPANY 833 CHESTNUT STREET PHILADELPHIA PA 19107 Building Services 2623051 LF DRISCOLL COMPANY LLC 401 CITY LINE AVENUE - SUITE 500 BALA CYNWYD PA 19004 Building Services 2614175 CTC CONSTRUCTION MANAGEMENT INC PO BOX 256 MECHANICSVILLE PA 18934 BUILDING SERVICES 2249613 HARRISON ELECTRICAL INC 829 LINCOLN AVENUE - UNIT 10 WEST CHESTER PA 19380 Building Services 1594191 46 18415 2254000 32787585 6710471 35060000 TUITION & FEES 611310 79923000 79923000 ROOM & BOARD 611310 20882000 20882000 100805000 85782728 -2138914 87921642 179981 179981 101096 101096 1585067 1307869 277198 0 277198 277198 948758694 930230999 18527695 18527695 18527695 18255 18415 13994 4261 4261 0 0 0 0 0 0 SUMMER PROGRAMS 713990 384305 384305 INN AT SWARTHMORE (INN & RESTAURANT) 721110 3552638 3552638 BKST AT SWARTHMORE (AT INN) 900099 386266 386266 6213658 6213658 10536867 251274826 100805000 2184295 113225531 0 38218000 38218000 0 0 2841891 1073595 1441290 327006 0 66461754 51204428 12898892 2358434 5528527 4302163 1007244 219120 10351703 8220128 1747874 383701 4852836 3614567 1058395 179874 0 146027 146027 240661 240661 0 79043 79043 6637000 6637000 5819506 2956790 2255373 607343 329194 42100 287094 7660886 4581927 2927217 151742 6462594 3376625 2974222 111747 0 2138767 1551391 527029 60347 3622544 2687539 578257 356748 0 1882390 1389512 322459 170419 7284305 5547482 1520703 216120 0 11606866 8937287 2321373 348206 1111661 1049488 62173 EQUIP PURCH, RENTAL & MAINT 6133282 4046313 2051884 35085 OFF-CAMPUS STUDY PROGRAMS 3828805 3828805 FOOD AND BEVERAGE (NON-TRAVEL) 3236240 2488832 747332 76 ANNUITY PAYMENTS 1984028 1984028 6420621 5273770 1019608 127243 204879131 156374770 42772107 5732254 42811000 43483000 0 0 21258000 18309000 3224000 1681000 1178195 1185070 0 0 11401805 10985930 653743 246093 3814257 2189907 486705000 147561000 299878000 339144000 809214000 899302000 1026964000 1118569000 0 0 0 0 58488000 47181000 2278885000 2482276000 19235000 23972000 0 0 1594000 1473000 262442000 274726000 0 0 0 0 0 0 0 0 63953000 48498000 347224000 348669000 X 782732000 916658000 939250000 998944000 209679000 218005000 1931661000 2133607000 2278885000 2482276000 X 46395695 146060305 6637000 2853000 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4671000 X X X false 1746962000 35302000 257710000 17720000 60085000 6637000 1955532000 1845799000 9830000 -26573000 16857000 58458000 6779000 1746962000 1876669000 8063000 50581000 13897000 69410000 6207000 1845799000 1634685000 10121000 293055000 13225000 41993000 5974000 1876669000 1498775000 10742000 181752000 12432000 38474000 5678000 1634685000 0.38000 0.57000 0.05000 false false 5757000 5757000 461881000 134729999 327152000 14396000 12832000 1564000 4671000 4671000 339144000 FIXED INCOME 41369000 F PUBLIC EQUITY 302086000 F REAL ASSETS 196658000 F PRIVATE EQUITY 350049000 F MARKETABLE ALTERNATIVES 225792000 F OTHER 2615000 F 1118569000 0 EMPLOYEE AND FORMER EMPLOYEES 5654000 CONDITIONAL GIFT LIABILITY 10000000 DONORS 15010000 POSTRETIREMENT HEALTH BENEFIT 16755000 CONDITIONAL ASSET RETIRMNT OBL 1079000 48498000 X 363278000 152697305 152697305 210580695 6637000 34057131 40694131 251274826 161332000 161332000 6637000 36910131 43547131 204879131 SCHEDULE D, PART III, LINE 4 DESCRIPTION OF COLLECTIONS THE COLLEGE MAINTAINS A SMALL PERMANENT COLLECTION OF ART THAT IS USED IN TEACHING (E.G., COURSES IN STUDIO ART AND ART HISTORY) AND PROVIDES STUDENTS WITH RESEARCH OPPORTUNITIES. ---------------------- SCHEDULE D, PART V, LINE 4 USE OF ENDOWMENT FUNDS BESIDES SCHOLARSHIPS, THE SWARTHMORE COLLEGE ENDOWMENT PROVIDES FUNDING FOR A VARIETY OF PROGRAMS INCLUDING PROFESSORSHIPS, FACULTY AND STUDENT RESEARCH, LIBRARY AND ACADEMIC SUPPORT, AWARDS AND PRIZES, COMMUNITY SERVICE, FACILITIES AND GROUNDS, DEBT SERVICE AND CAPITAL PROJECTS, AS WELL AS GENERAL BUDGET SUPPORT. ------------------- SCHEDULE D, PART X, LINE 2 TEXT OF FIN 48 (ASC 740) FOOTNOTE THE FOLLOWING IS THE TEXT OF THE FIN 48 (ASC 740) FOOTNOTE FROM THE CONSOLIDATED JUNE 30, 2017 SWARTHMORE COLLEGE AUDITED FINANCIAL STATEMENTS: THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS. NO ADJUSTMENTS TO THE FINANCIAL STATEMENTS HAVE RESULTED FROM UNCERTAIN TAX POSITIONS. THE COLLEGE CONTINUALLY MONITORS AND EVALUATES ITS ACTIVITIES FOR UNRELATED BUSINESS INCOME ACTIVITY. -------------------- SCHEDULE D, PART XI, LINE 4B DETAIL OF OTHER CHANGES COSTS OF RENTAL HOUSING $(1,307,869) CHANGE IN PRESENT VALUE OF LIFE INCOME FUNDS (2,853,000) STUDENT AID 38,218,000 ______________ TOTAL $34,057,131 --------------------- SCHEDULE D, PART XII, LINE 4B DETAIL OF OTHER CHANGES COSTS OF RENTAL HOUSING $(1,307,869) STUDENT AID 38,218,000 ____________ TOTAL $36,910,131 -------------------- true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 PUBLICATION OF RACIALLY NON-DISCRIMINATORY POLICY SWARTHMORE COLLEGE'S NON-DISCRIMINATORY POLICY IS INCLUDED IN ALL PRINTED AND BROADCAST ADVERTISING, AS WELL AS IN COLLEGE CATALOGS. SUCH POLICY IS ALSO AVAILABLE IN PRINT IN VARIOUS LOCATIONS ON CAMPUS. THE NON-DISCRIMINATORY POLICY FOR SWARTHMORE COLLEGE CAN BE FOUND AT: https://www.swarthmore.edu/equal-opportunity-office/non-discrimination-and -equal-opportunity -------------------- SCHEDULE E, LINE 6A DESCRIPTION OF FINANCIAL AID/ASSISTANCE FROM GOV'T AGENCY THE COLLEGE PARTICIPATES IN FIVE FEDERAL STUDENT FINANCIAL AID PROGRAMS: FEDERAL PELL, FSEOG, FEDERAL WORK STUDY, FEDERAL PERKINS LOAN AND FEDERAL STAFFORD LOAN PROGRAMS. THE COLLEGE ALSO PARTICIPATES IN THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY (PHEAA) STUDENT GRANT PROGRAM. THE ONLY DIRECT FINANCIAL ASSISTANCE RECEIVED BY THE COLLEGE FROM A GOVERNMENTAL AGENCY IS THE PHEAA INSTITUTIONAL ASSISTANCE GRANT. -------------------- East Asia and the Pacific Program Services Study Abroad 235756 Europe (Including Iceland and Greenland) Program Services Study Abroad 738934 Middle East and North Africa Program Services Study Abroad 36215 Central America and the Caribbean Investments N/A 139961031 Europe (Including Iceland and Greenland) Investments N/A 34980067 North America Investments N/A 765840 176717843 176717843 true false false true true false X X X X X X X true MARTS LUNDY 1200 WALL ST LYNDHU GENERAL CONSULTING false 31912011 62037 31849974 VALERIE M JONES ASSOCIATES 210 IDL GENERAL CONSULTING false 893989 17006 876983 32806000 79043 32726957 All States GOLF OUTING 36670 18415 18255 1075 8227 4238 454 0 36670 18415 18255 1075 8227 4238 454 13994 4261 true SWARTHMORE COLLEGE FUNDS/SCHOLARSHIPS 895 38218000 N/A N/A SCHEDULE I, PART I PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS Y ALL SWARTHMORE COLLEGE SCHOLARSHIPS ARE DISBURSED/POSTED ELECTRONICALLY (AND INTERNALLY) DIRECTLY TO THE STUDENTS ACCOUNT. FURTHERMORE, STUDENTS RECEIVING SAID FUNDS ARE UNABLE TO WITHDRAWAL IT FROM THEIR STUDENT ACCOUNT. X X X X X true true X X X X X true false false false false false false false false MARK C AMSTUTZ CHIEF INVESTMENT OFFICER 300580 0 0 0 0 0 26500 0 17770 0 344850 0 0 0 JAMES L BOCK III DEAN OF ADMISSIONS & FIN. AID 217503 0 0 0 0 0 22096 0 21620 0 261219 0 0 0 H ELIZABETH BRAUN DEAN OF STUDENTS 199949 0 0 0 0 0 20383 0 69363 0 289695 0 0 0 GREGORY N BROWN VP FIN & ADMIN & TREASURER 338646 0 0 0 0 0 26500 0 17770 0 382916 0 0 0 KARL W CLAUSS VP OF COLLEGE ADVANCEMENT 274374 0 0 0 0 0 58209 0 69505 0 402088 0 0 0 FRANK C GRUNSEICH DIRECTOR OF INVESTMENTS 224110 0 0 0 0 22838 0 21639 0 268587 0 0 0 C STUART HAIN VP FACILITIES & SERVICES 225100 0 0 0 0 0 22489 0 1327 0 248916 0 0 0 NANCY NOWICKI NICELY SECRETARY & VP COMMUNICATIONS 232006 0 0 0 0 0 23293 0 21650 0 276949 0 0 0 EILEEN E PETULA FMR TREAS & ASSOC VP FOR FIN. 131942 0 0 0 0 0 19492 0 19310 0 170744 0 0 0 PAMELA PRESCOD-CAESAR VP HUMAN RESOURCES 190435 0 0 0 0 0 19477 0 21524 0 231436 0 0 0 VALERIE SMITH PRES./EX OFFICIO BOARD MEMBER 436481 0 0 0 0 0 118059 0 60722 0 615262 0 0 0 THOMAS STEPHENSON PROVOST 258205 0 0 0 0 0 69228 0 21714 0 349147 0 0 0 CONSTANCE HUNGERFORD FORMER PRESIDENT 207611 0 0 0 0 0 21009 0 17457 0 246077 0 0 0 FRANK MOSCATELLI PROFESSOR 127392 0 0 299007 0 10773 0 519 0 437691 0 0 0 ALLEN SCHNEIDER PROFESSOR 228882 0 0 0 0 0 23200 0 13059 0 265141 0 0 0 NELSON MACKEN PROFESSOR 216245 0 0 0 0 0 21813 0 17549 0 255607 0 0 0 ARTHUR MCGARITY PROFESSOR 209910 0 0 0 0 0 18000 0 17921 0 245831 0 0 0 BARRY SCHWARTZ PROFESSOR 130633 0 0 0 72770 0 12893 0 10403 0 226699 0 0 0 SCHEDULE J, LINE 1A DETAIL OF ADDITIONAL BENEFITS PROVIDED FIRST CLASS TRAVEL IN GENERAL, IT IS SWARTHMORE COLLEGE'S (THE "COLLEGE") POLICY THAT FIRST CLASS TRAVEL IS NOT AUTHORIZED FOR COLLEGE EMPLOYEES TRAVELING ON COLLEGE BUSINESS. HOWEVER, IN RECOGNITION THAT THE PRESIDENT TYPICALLY WORKS DURING FLIGHTS, ATTENDS DIRECTLY TO BUSINESS UPON ARRIVAL, AND CANNOT SCHEDULE IN TIME FOR ADEQUATE REST, THE BOARD OF MANAGERS HAS APPROVED THE USE OF FIRST CLASS TRAVEL FOR THE PRESIDENT ON DOMESTIC AND INTERNATIONAL FLIGHTS OVER THREE HOURS IN LENGTH. THIS POLICY EXTENDS TO THE PRESIDENT'S SPOUSE WHEN HE OR SHE ACCOMPANIES THE PRESIDENT ON BUSINESS TRAVEL. FOR ALL OTHER EMPLOYEES (FACULTY AND STAFF), FIRST CLASS TRAVEL MUST BE PRE-APPROVED BY THE PRESIDENT OR HIS/HER DESIGNATE. TRAVEL FOR COMPANIONS IN CERTAIN AUTHORIZED CIRCUMSTANCES THE COLLEGE WILL PAY, OR WILL REIMBURSE, FOR THE TRAVEL, MEALS AND EXPENSES OF THE SPOUSE/PARTNER OF AN EMPLOYEE UNDER THE COLLEGE'S ACCOUNTABLE PLAN. REIMBURSEMENTS ARE CONSIDERED TAXABLE INCOME TO THE EMPLOYEE UNLESS THE COMPANION TRAVEL IS: 1) FOR A BONA FIDE BUSINESS PURPOSE, 2) DIRECTLY BENEFITS THE COLLEGE, AND 3) IS PROPERLY DOCUMENTED AND APPROVED. ANY SPOUSE/PARTNER TRAVEL OTHER THAN THE PRESIDENT MUST BE APPROVED, IN ADVANCE, BY THE PRESIDENT OR HIS/HER DESIGNATE. TAX GROSS-UP PAYMENTS RETIREMENT PAYMENTS TO EMPLOYEES MAY INCLUDE A GROSS-UP FOR A PORTION OF THE BENEFITS PAID. RESIDENCE REQUIREMENT AS A CONDITION OF EMPLOYMENT, THE PRESIDENT, THE DEAN OF STUDENTS, AND THE VICE PRESIDENT OF COLLEGE ADVANCEMENT MAINTAINED THEIR FULL TIME RESIDENCE IN COLLEGE-PROVIDED HOUSING AND USED SUCH RESIDENCES FOR COLLEGE BUSINESS AND ENTERTAINMENT PURPOSES. SOCIAL CLUB DUES MEMBERSHIP DUES WERE PROVIDED TO ONE NEW YORK UNIVERSITY CLUBS TO BE USED FOR BUSINESS PURPOSES (ENTERTAINMENT / TRAVEL). -------------------- SCHEDULE J, PART I, LINE 4A THE FOLLOWING INDIVIDUALS RECEIVED EARLY RETIREMENT PAYMENTS IN 2016: FRANK MOSCATELLI: $299,007 BARRY SCHWARTZ: $72,770 SCHEDULE J, PART II ADDITIONAL INFORMATION ALL DEFERRED COMPENSATION FIGURES REPORTED ON PART II, COLUMN C, INCLUDE EMPLOYER CONTRIBUTIONS TO A QUALIFIED RETIREMENT PLAN. H. ELIZABETH BRAUN - NON-TAXABLE BENEFITS FIGURE INCLUDES A HOUSING ALLOWANCE. SEE "RESIDENCE REQUIREMENT" ABOVE. KARL W. CLAUSS - NON-TAXABLE BENEFITS FIGURE INCLUDES A HOUSING ALLOWANCE. SEE "RESIDENCE REQUIREMENT" ABOVE. KARL W. CLAUSS - DEFERRED COMPENSATION ALSO INCLUDES A RETENTION BONUS PER EMPLOYMENT AGREEMENT. VALERIE SMITH - OTHER COMPENSATION FIGURE IS A RESULT OF THE PAYMENT OF ACCRUED LEAVE COMPENSATION AND BENEFITS. VALERIE SMITH - NON-TAXABLE BENEFITS FIGURE INCLUDES A HOUSING ALLOWANCE. SEE "RESIDENCE REQUIREMENT" ABOVE. THOMAS STEPHENSON - DEFERRED COMPENSATION ALSO INCLUDES ACCRUED LEAVE COMPENSATION AND BENEFITS. FRANK MOSCATELLI - OTHER REPORTABLE COMPENSATION FIGURE WAS AN EARLY RETIREMENT PAYMENT. BARRY SCHWARTZ - OTHER REPORTABLE COMPENSATION FIGURE WAS AN EARLY RETIREMENT PAYMENT. A SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2011 232243929 870000GN0 2011-06-29 30383328 REFUNDING 2001 BONDS- SEE PART VI false false false B SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2011B 232243929 870000GY6 2011-12-21 17177979 VAR. CAPITAL PROJECTS- SEE PART VI false false false C SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2013 232243929 870000JG2 2013-07-31 52616042 VAR. CAPITAL PROJECTS- SEE PART VI false false false D SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2015 232243929 870000KJ4 2015-07-14 59996832 VAR. CAPITAL PROJECTS- SEE PART VI false false false A 3054328 0 30397803 0 0 0 330328 0 0 0 30067475 0 2011 true false true true B 3039979 0 17594907 0 0 0 137349 0 0 17457558 0 0 2014 false false true true C 7082042 0 52626016 0 0 0 353591 0 0 18387425 33885000 0 2016 true false true true D 1203832 0 60206811 0 0 0 348937 0 0 35830405 0 24027469 false false false true A 0 B false false false false 0.00000 0.00100 0.00100 false false 0.00000 false true C false false false false 0.00000 0.01200 0.01200 false false 0.00000 false true D false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true C false false false true false false 0 false 0 false true D false true false true false false 0 false 0 false true A true B true C true D true SCHEDULE K, PART I, COLUMN (F) DESCRIPTION OF PURPOSE FOR BONDS ISSUED PART I, LINE A: THE PROCEEDS OF THE SERIES 2011 BOND ISSUED ON 6/29/2011 WERE USED TO REFUND A PORTION OF THE SWARTHMORE COLLEGE REVENUE BONDS, SERIES 2001, ISSUED ON 7/25/2001, AND TO FUND THE COSTS OF ISSUING THE 2011 BONDS. PART I, LINE B: THE PROCEEDS OF THE SERIES 2011B BOND ISSUED ON 12/21/2011 WERE USED FOR VARIOUS TAX-EXEMPT CAPITAL PROJECTS AND TO FUND THE COST OF ISSUING THE 2011B BONDS. PART I, LINE C: THE PROCEEDS OF THE SERIES 2013 BOND ISSUED ON 7/31/2013 WERE USED TO REFUND THE SWARTHMORE COLLEGE REVENUE BONDS, SERIES 2008 ISSUED ON 4/30/2008 AND SERIES 2009 ISSUED ON 7/29/2009, AND USED FOR VARIOUS TAX EXEMPT CAPITAL PROJECTS AND TO FUND THE COSTS OF ISSUING THE 2013 BONDS. PART I, LINE D: THE PROCEEDS OF THE SERIES 2015 BOND ISSUED ON 7/14/2015 WILL BE USED FOR VARIOUS TAX-EXEMPT CAPITAL PROJECTS AND TO FUND THE COST OF ISSUING THE 2015 BONDS. PART I, LINE E: THE PROCEEDS OF THE SERIES 2016A BOND ISSUED ON 7/19/2016 WERE USED TO ADVANCE REFUND THE 2006A REVENUE BONDS (WHICH HAD BEEN USED TO ADVANCE REFUND THE SERIES 1998 AND 2001 REVENUE BONDS), AND TO FUND THE COSTS OF ISSUING THE 2016A BONDS. PART I, LINE F: THE PROCEEDS OF THE SERIES 2016B BOND ISSUED ON 7/19/2016 WILL BE USED FOR VARIOUS TAX-EXEMPT CAPITAL PROJECTS AND TO FUND THE COST OF ISSUING THE 2016B BONDS. -------------------- SCHEDULE K, PART II, LINE 3 DETAIL OF TOTAL PROCEEDS FROM ISSUE THE TOTAL PROCEEDS OF ISSUE REPORTED FOR EACH BOND LISTED INCLUDES ANY INVESTMENT EARNINGS. -------------------- SCHEDULE K, PART II, LINE 13 YEAR OF SUBSTANTIAL COMPLETION THE 2015 AND 2016B BONDS HAVE NOT YET MET THE DEFINITION OF SUBSTANTIAL COMPLETION. AS A RESULT, NO YEAR HAS BEEN ENTERED. -------------------- SCHEDULE K, PART III PRIVATE BUSINESS USE SINCE THE SERIES 2011 BOND WAS USED TO ADVANCED REFUND THE SERIES 2001 BONDS, THIS SECTION IS NOT APPLICABLE. SINCE THE SERIES 2016A BOND WAS USED TO ADVANCED REFUND THE SERIES 2006A BONDS (WHICH HAD BEEN USED TO ADVANCE REFUND THE SERIES 1998 AND 2001 REVENUE BONDS), THIS SECTION IS NOT APPLICABLE. -------------------- SCHEDULE K, PART IV, LINE 2C DATE THE REBATE COMPUTATION WAS PERFORMED SERIES 2011: 06/28/2016 SERIES 2011B: 12/21/2017 SERIES 2013: 07/30/2017 SERIES 2015: 09/15/2017 SERIES 2016A: 08/16/2017 SERIES 2016B: 08/16/2017 -------------------- A SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2016A 232243929 870000KY1 2016-08-16 73699674 REFUNDING PRIOR BOND- SEE PART VI false false false B SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2016B 232243929 870000LW4 2016-08-16 25244118 VAR. CAPITAL PROJECTS- SEE PART VI false false false A 1381674 0 73699731 0 0 0 344674 0 0 0 73355057 0 2016 false true true true B 172118 0 25264670 0 0 0 194356 0 0 4396588 0 20673726 false false false true A 0 B false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true A true B true James L Bock III OFFICER MORTGAGE X 340000 207934 false true true Gregory N Brown OFFICER MORTGAGE X 410000 380440 false true true Arthur McGarity HIGHLY COMPENSATED EMPLOYEE MORTGAGE X 117500 117373 false true true Pamela Prescod-Caesar OFFICER MORTGAGE X 315500 300790 false true true Thomas Stephenson OFFICER MORTGAGE X 328000 178533 false true true 1185070 TEMIN AND COMPANY INC DAVIA TEMIN, TRUSTEE, HAS AN OWNERSHIP INTEREST IN TEMIN & COMPANY 198624 CONSULTING FEES false X 118 6063134 Fair Market Value X 1 647337 Fair Market Value false true false SCHEDULE M, PART I, LINE 32 USE OF THIRD PARTIES SWARTHMORE COLLEGE MAINTAINS ACCOUNTS AT SEVERAL BROKERAGE FIRMS TO FACILITATE THE SALE OF ANY NON-CASH CONTRIBUTIONS IT MAY RECEIVE. --------------- SCHEDULE M, PART I, COLUMN (B) INFORMATION REGARDING NUMBER OF CONTRIBUTIONS SWARTHMORE COLLEGE IS REPORTING THE AGGREGATE NUMBER OF CONTRIBUTIONS RECEIVED OF SCHEDULE M, PART I, COLUMN B (NOT THE NUMBER OF ITEMS RECEIVED). FORM 990, PART VI, LINE 2 FAMILY OR BUSINESS RELATIONSHIPS EUGENE M. LANG, EMERITUS CHAIR AND JANE LANG, TRUSTEE, HAVE A FAMILY RELATIONSHIP. -------------------- FORM 990, PART VI, LINE 11 AND 11A FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED INTERNALLY BY SWARTHMORE COLLEGE. IT IS REVIEWED BY THE APPROPRIATE SENIOR MANAGEMENT AND A NATIONALLY RECOGNIZED ACCOUNTING FIRM. BEFORE THE FORM 990 IS FILED, IT IS PROVIDED TO THE AUDIT AND RISK MANAGEMENT COMMITTEE, THE FINANCE COMMITTEE, AND ALL BOARD MEMBERS FOR THEIR REVIEW. -------------------- FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY SWARTHMORE COLLEGE HAS TWO CONFLICT OF INTEREST POLICIES--ONE FOR ITS BOARD MEMBERS AND ONE FOR EMPLOYEES. EACH YEAR ALL MEMBERS OF THE BOARD RECEIVE A SURVEY REMINDING THEM OF THE POLICY AND REQUESTING DISCLOSURE OF BUSINESS AND CHARITABLE AFFILIATIONS, TRANSACTIONS WITH THE COLLEGE, AND ANY POSSIBLE CONFLICTS. LIKEWISE, ALL SUPERVISORY STAFF OF THE COLLEGE RECIEVES A SURVEY REMINDING THEM OF THE EMPLOYEE CONFLICT OF INTEREST POLICY AND ASKING THEM FOR OTHER BUSINESS AND CHARITABLE AFFILIATIONS, TRANSACTIONS WITH THE COLLEGE, AND ANY POSSIBLE CONFLICTS FOR THEMSELVES OR ANY MEMBER OF THE STAFF REPORTING TO THEM. THE AUDIT AND RISK MANAGEMENT COMMITTEE OF THE BOARD OF MANAGERS RECEIVES A SUMMARY OF ALL RESPONSES AND ADDRESSES POSSIBLE CONFLICTS WHICH ARISE. -------------------- FORM 990, PART VI, LINE 15B PROCESS FOR DETERMINING OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE COMPENSATION THE COMPENSATION COMMITTEE OF THE BOARD OF MANAGERS REVIEWS AND APPROVES THE COMPENSATION FOR COMPENSATED OFFICERS, DIRECTORS, AND KEY EMPLOYEES, INCLUDING THE PRESIDENT. THE COMMITTEE REVIEWS COMPARATIVE DATA OBTAINED FROM AN INDEPENDENT CONSULTANT, CONSULTS WITH THE PRESIDENT REGARDING THE PERFORMANCE OF EACH OFFICER, DIRECTOR AND KEY EMPLOYEE THAT REPORTS TO THE PRESIDENT AND SETS THE COMPENSATION FOR EACH OF THEM. THE COMPENSATION COMMITTEE SEPARATELY REVIEWS THE PERFORMANCE OF THE PRESIDENT AND USES COMPARATIVE DATA TO DETERMINE THE PRESIDENT'S COMPENSATION FOR THE SUBSEQUENT YEAR. THIS PROCESS IS COMPLETED ANNUALLY. -------------------- FORM 990, PART VI, LINE 19 AVAILABILITY OF DOCUMENTS TO THE PUBLIC THE COLLEGE MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. THE COLLEGE MAKES ITS CONFLICT OF INTEREST POLICY AVAILABLE VIA THE COLLEGE'S WEBSITE. THE COLLEGE MAKES ITS FINANCIAL STATEMENTS AVAILABLE VIA THE COLLEGE'S WEBSITE. -------------------- FORM 990, PART XI, LINE 9 DETAIL OF OTHER CHANGES IN NET ASSETS OR FUND BALANCES CHANGE IN PRESENT VALUE OF LIFE INCOME FUNDS $1,282,000 GAIN ON EXTINGUISMENT OF DEBT 1,595,000 CHANGE IN OTHER POST RETIREMENT BENEFITS (24,000) __________ $2,853,000 -------------------- PARRISH LLC 500 COLLEGE AVE SWARTHMORE PA 19081 460563007 INN/RESTAURNT PA 3931256 -1199232 SWARTHMORE MARJAY PRODUCTIONS INC 1007 ORANGE STREET SUITE 1410 WILMINGTON DE 19801 131952572 LITERARY WORK DE NA C CORPORATION 205042 121867 1.00000 true CHARITABLE REMAINDER ANNUITY TRUSTS CRATs - 3 SWARTHMORE PA 19081 N/A PA NA TRUST CHARITABLE REMAINDER UNITRUSTS CRUTs - 29 SWARTHMORE PA 19081 N/A PA NA TRUST NET INC CHARITABLE REMAINDER UNITRUSTs NIMCRUTs - 6 SWARTHMORE PA 19081 N/A PA NA TRUST true false false false false false false false false false false false false false false false false false false Marjay Productions Inc A 80000 PER ESTATE DOC.