2016-05-09T23:15:09-05:00 2015-06-30 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2014-07-01 231352683 SWARTHMORE COLLEGE % ALICE TURBIVILLE SWAR 6103288676 500 COLLEGE AVENUE SWARTHMORE PA 19081 GREGORY N BROWN VP FOR FINANCE & ADM 6103288676 2016-05-09 true ANTONIO C RUSSO P00858539 2673303000 2014 2016-08-17 19:52:53Z GREGORY N BROWN 500 COLLEGE AVENUE SWARTHMORE PA 19081 866171163 false X www.swarthmore.edu X 1864 PA SEE ATTACHMENT 1 39 37 2553 1556 1315388 0 27721000 17133000 85621000 89149000 145366076 84011570 7690924 5160631 266399000 195454201 28062000 29999000 0 0 80875639 83129818 68710 54089 4698960 59736380 59759288 168742729 172942195 97656271 22512006 2340785000 2326885000 296626000 293757000 2044159000 2033128000 X SWARTHMORE STUDENTS ARE EXPECTED TO PREPARE THEMSELVES FOR FULL, BALANCED LIVES AS INDIVIDUALS AND AS RESPONSIBLE CITIZENS THROUGH EXACTING INTELLECTUAL STUDY SUPPLEMENTED BY A VARIED PROGRAM OF SPORTS AND OTHER EXTRACURRICULAR ACTIVITIES. THE PURPOSE OF SWARTHMORE COLLEGE IS TO MAKE ITS STUDENTS MORE VALUABLE HUMAN BEINGS AND MORE USEFUL MEMBERS OF SOCIETY. ALTHOUGH IT SHARES THIS PURPOSE WITH OTHER EDUCATIONAL INSTITUTIONS, EACH SCHOOL, COLLEGE, AND UNIVERSITY SEEKS TO REALIZE THAT PURPOSE IN ITS OWN WAY. SWARTHMORE SEEKS TO HELP ITS STUDENTS REALIZE THEIR FULL INTELLECTUAL AND PERSONAL POTENTIAL COMBINED WITH A DEEP SENSE OF ETHICAL AND SOCIAL CONCERN. false false 131783809 29999000 89149000 SWARTHMORE IS A CO-EDUCATIONAL COLLEGE OF LIBERAL ARTS AND ENGINEERING. THE AVERAGE ENROLLMENT FOR FISCAL YEAR 2014-15 WAS 1,527. THERE WERE 131 STUDENTS STUDYING ABROAD. OF THE TOTAL STUDENT POPULATION, 1,349 COME FROM ACROSS THE UNITED STATES WHILE 193 COME FROM VARIOUS FOREIGN NATIONS. THE COLLEGE STRIVES TO MAKE IT POSSIBLE FOR ALL ADMITTED STUDENTS TO ATTEND SWARTHMORE, REGARDLESS OF THEIR FINANCIAL CIRCUMSTANCES AND TO ENABLE THEM TO COMPLETE THEIR EDUCATION IF FINANCIAL REVERSALS TAKE PLACE. APPROXIMATELY 52% OF THE STUDENT BODY RECEIVED FINANCIAL AID FROM THE COLLEGE IN FISCAL YEAR ENDING JUNE 30, 2015. THE COLLEGE IS COMMITTED TO MEETING ALL DEMONSTRATED FINANCIAL NEED THROUGH SCHOLARSHIP AND STUDENT EMPLOYMENT. DEMONSTRATED NEED IS ASSESSED BY CAREFUL REVIEW OF FAMILIES' FINANCIAL CIRCUMSTANCES. 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. 131783809 true true false false false false false true false true true true false false true true false true true false true false false true false false false false true true true true true true false false true false true true false true true false false true true true true false false true 2225 0 true 2553 true true true false false false false false false false false false X 39 37 true false false false false false false true true false false true true true true true true true true false PA X ALICE TURBIVILLE 6109576040 500 COLLEGE AVENUE SWARTHMORE PA 19081 GILES K KEMP CHAIR 6.0 0.0 X X 0 0 0 KARIM ABDEL-MOTAAL TRUSTEE 2.0 0.0 X 0 0 0 RICHARD A BARASCH TRUSTEE 4.0 0.0 X 0 0 0 SOHAIL BENGALI 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 DELVIN DINKINS TRUSTEE 4.0 0.0 X 0 0 0 ELIZABETH ECONOMY TRUSTEE 2.0 0.0 X 0 0 0 NATHANIEL AK ERSKINE TRUSTEE 2.0 0.0 X 0 0 0 DAVID GELBER TRUSTEE 2.0 0.0 X 0 0 0 JAMES E GREGORY TRUSTEE 2.0 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 HAROLD KALKSTEIN TRUSTEE 4.0 0.0 X 0 0 0 DAVID KO TRUSTEE/EX-OFFICIO 2.0 0.0 X 0 0 0 JANE LANG TRUSTEE 2.0 0.0 X 0 0 0 DANIELLE M LEE TRUSTEE 2.0 0.0 X 0 0 0 SUSAN B LEVINE TRUSTEE 4.0 0.0 X 0 0 0 LUCINDA LEWIS TRUSTEE 2.0 0.0 X 0 0 0 BENNETT LORBER TRUSTEE 4.0 0.0 X 0 0 0 JAMES LOVELACE TRUSTEE 4.0 0.0 X 0 0 0 BARBARA W MATHER TRUSTEE 2.0 0.0 X 0 0 0 CHRISTOPHER M NIEMCZEWSKI TRUSTEE 4.0 0.0 X 0 0 0 NICOLE O'DELL ODIM TRUSTEE 2.0 0.0 X 0 0 0 SIBELLA CLARK PEDDER TRUSTEE 2.0 0.0 X 0 0 0 ANN REICHELDERFER TRUSTEE 4.0 0.0 X 0 0 0 ELIZABETH H SCHEUER 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 VICE-CHAIR 4.0 0.0 X X 0 0 0 DAVID W SINGLETON TRUSTEE 4.0 0.0 X 0 0 0 THOMAS E SPOCK TRUSTEE 4.0 0.0 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 RUTH SHOEMAKER WOOD 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 JEROME KOHLBERG EMERITUS TRUSTEE 2.0 0.0 X 0 0 0 EUGENE M LANG EMERITUS 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 REBECCA S CHOPP PRESIDENT & EX-OFFICIO TRUSTEE 40.0 0.0 X X 714479 0 65200 CONSTANCE HUNGERFORD PRESIDENT & EX-OFFICIO TRUSTEE 40.0 0.0 X X 299348 0 74717 MARK C AMSTUTZ CHIEF INVESTMENT OFFICER 40.0 0.0 X 237087 0 41174 JAMES L BOCK III DEAN OF ADMISSIONS & FIN. AID 40.0 0.0 X 209667 0 39915 H ELIZABETH BRAUN DEAN OF STUDENTS 40.0 0.0 X 188310 0 79463 GREGORY N BROWN VP FINANCE & ADMINISTRATION 40.0 0.0 X 234445 0 25144 KARL W CLAUSS VP DEVELOPMENT & ALUMNI REL. 40.0 0.0 X 257748 0 113333 MAURICE G ELDRIDGE VP COLLEGE & COMMUNITY REL. 40.0 0.0 X 251153 0 32870 C STUART HAIN VP FACILITIES & SERVICES 40.0 0.0 X 212170 0 22818 LORI ANN JOHNSON ASSISTANT TREASURER 40.0 0.0 X 107094 0 18739 NANCY NOWICKI NICELY SECRETARY & VP COMMUNICATION 40.0 0.0 X 218565 0 41064 EILEEN E PETULA TREASURER & ASSOC. VP FINANCE 40.0 0.0 X 170140 0 25591 PAMELA PRESCOD-CAESAR VP HUMAN RESOURCES 40.0 0.0 X 183962 0 37403 THOMAS STEPHENSON PROVOST 40.0 0.0 X 247020 0 91161 HELENE SHAPIRO PROFESSOR 40.0 0.0 X 411244 0 11597 NELSON MACKEN PROFESSOR 40.0 0.0 X 219045 0 36368 ALLEN SCHNEIDER PROFESSOR 40.0 0.0 X 210684 0 37639 ARTHUR MCGARITY PROFESSOR 40.0 0.0 X 193544 0 32721 BARRY SCHWARTZ PROFESSOR 40.0 0.0 X 190910 0 21229 SUZANNE P WELSH FMR VP FINANCE & TREASURER 40.0 0.0 X 331114 0 44190 5087729 0 892336 155 true true false CVM CONSTRUCTION MANAGERS INC 1002 W 9th AVENUE KING OF PRUSSIA PA 19409 CONSTRUCTION SRVCS 4705373 WS CUMBY SON INC 938 LINCOLN AVENUE SPRINGFIELD PA 19064 CONSTRUCTION SRVCS 3830225 CTC CONSTRUCTION MANAGEMENT INC PO BOX 256 MECHANICSVILLE PA 18934 CONSTRUCTION SRVCS 2330773 HARRISON ELECTRICAL INC 829 LINCOLN AVENUE WEST CHESTER PA 19080 ELECTRICAL SRVCS 1378021 BALLINGER COMPANY 833 CHESTNUT STREET PHILADELPHIA PA 19107 CONSTRUCTION SRVCS 1062706 47 2203000 14930000 2072504 17133000 TUITION & FEES 611310 70790000 70790000 ROOM & BOARD 611310 18359000 18359000 89149000 71120270 735142 70385128 1294 1294 219182 219182 1672656 1226805 445851 0 445851 445851 682380163 669490157 12890006 12890006 12890006 0 0 0 SUMMER PROGRAMS 713990 418618 418618 RENTAL INCOME (DEBT FINANCED PROPERTY) 531120 161628 161628 AUXILIARY & OTHER SERVICES 611310 3915352 3915352 4495598 195454201 89149000 1315388 87856813 0 29999000 29999000 0 0 3781180 1301043 2171179 308958 0 59467071 46269894 11054867 2142310 5175454 3945649 997694 232111 10379627 6810282 3252587 316758 4326486 3258280 897496 170710 0 201504 0 201504 0 174143 0 174143 0 0 54089 54089 6207000 0 6207000 0 5390743 2796074 2372773 221896 458275 86811 371464 0 5167072 3790810 1247825 128437 3574687 2577463 924109 73115 0 2228480 1716539 445166 66775 3000560 2161372 556520 282668 0 1796060 1221762 456725 117573 7186208 5515802 1447306 223100 0 7883594 6070367 1576719 236508 958628 958628 0 0 EQUIP PURCH, RENTAL, & MAINT 3915876 2538943 1328583 48350 FOREIGN STUDIES 3306233 3306233 0 0 ANNUITY PAYMENTS 1670233 1536481 133752 0 BOOKSTORE RELATED 616922 616922 0 0 6023070 5305454 642014 75602 172942195 131783809 36459426 4698960 X 28130000 22161000 0 0 31909000 25968000 2908000 1776000 1286423 1235333 0 0 13054577 12365667 629107 722564 3189893 2761436 410083000 133580000 253629000 276503000 992407000 938715000 994431000 1036626000 0 0 0 0 19211000 8051000 2340785000 2326885000 18117000 22103000 0 0 2148000 2415000 217762000 210257000 0 0 0 0 0 0 0 0 58599000 58982000 296626000 293757000 X 776303000 795869000 1060356000 1034686000 207500000 202573000 2044159000 2033128000 2340785000 2326885000 X 22512006 -38862006 6207000 -888000 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 4671000 X X X false 1876669000 14599000 50581000 13897000 46748000 6207000 1874997000 1634685000 10999000 293055000 13225000 42871000 5974000 1876669000 1498775000 15694000 181752000 12432000 43426000 5678000 1634685000 1508483000 7194000 36458000 11458000 37400000 4502000 1498775000 1249254000 2716000 307084000 10931000 34964000 4676000 1508483000 0.37000 0.58000 0.05000 false false 5757000 5757000 379603000 114995000 264608000 20052000 18585000 1467000 4671000 4671000 276503000 FIXED INCOME 37768000 F PUBLIC EQUITY 281375000 F REAL ASSETS 158742000 F PRIVATE EQUITY 313721000 F MARKETABLE ALTERNATIVES 243189000 F OTHER 1831000 F 1036626000 0 EMPLOYEE AND FORMER EMPLOYEES 4608000 CONDITIONAL GIFT LIABILITY 24759000 DONORS 14486000 POSTRETIREMENT HEALTH BENEFIT 14057000 CONDITIONAL ASSET RETIRMNT OBL 1072000 58982000 X 126932000 -32655006 -32655006 159587006 6207000 29660195 35867195 195454201 137963000 137963000 6207000 28772195 34979195 172942195 SCHEDULE D, PART III, LINE 4 DESCRIPTION OF COLLECTIONS SWARTHMORE 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, 2015 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 $(1,226,805) CHANGE IN PRESENT VALUE OF LIFE INCOME FUNDS 888,000 STUDENT AID 29,999,000 ____________ TOTAL $29,660,195 -------------------- SCHEDULE D, PART XII, LINE 4B DETAIL OF OTHER CHANGES COSTS OF RENTAL HOUSING $(1,226,805) STUDENT AID 29,999,000 ____________ TOTAL $28,772,195 -------------------- 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 NONDISCRIMINATORY 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. -------------------- SCHEDULE E, LINE 6A DESCRIPTION OF FINANCIAL AID/ASSISTANCE FROM GOV'T AGENCY SWARTHMORE 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. -------------------- Central America and the Caribbean Program Services Study Abroad 10000 East Asia and the Pacific Program Services Study Abroad 84907 Europe (Including Iceland and Greenland) Program Services Study Abroad 996320 Middle East and North Africa Program Services Study Abroad 318450 South America Program Services Study Abroad 218372 Sub-Saharan Africa Program Services Study Abroad 10000 Central America and the Caribbean Investments 156067494 Europe (Including Iceland and Greenland) Investments 54272079 Middle East and North Africa Investments 65000 North America Investments 619507 212662129 212662129 true false false true true false X X X X X X true MARTS LUNDY 1200 WALL ST LYNDHU GENERAL CONSULTING false 14201303 47289 14154014 VALERIE M JONES ASSOCIATES 210 IDL GENERAL CONSULTING false 728697 6800 721897 14930000 54089 14875911 All States true SWARTHMORE COLLEGE FUNDS/SCHOLARSHIPS 793 29999999 N/A N/A SCHEDULE I, PART I PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS ALL SWARTHMORE COLLEGE SCHOLARSHIPS ARE DISBURSED/POSTED ELECTRONICALLY (AND INTERNALLY) DIRECTLY TO EACH STUDENT'S ACCOUNT. FURTHERMORE, STUDENTS RECEIVING SAID GRANT FUNDS ARE UNABLE TO WITHDRAWAL SUCH FUNDS FROM THEIR STUDENT ACCOUNTS. X X X X X true true X X X X X false false false false false false false false false SUZANNE P WELSH FMR VP FINANCE & TREASURER 331114 0 0 0 0 0 25210 0 18980 0 375304 0 0 0 MARK C AMSTUTZ CHIEF INVESTMENT OFFICER 237087 0 0 0 0 0 24208 0 16966 0 278261 0 0 0 JAMES L BOCK III DEAN OF ADMISSIONS & FIN. AID 209667 0 0 0 0 0 20835 0 19080 0 249582 0 0 0 H ELIZABETH BRAUN DEAN OF STUDENTS 188310 0 0 0 0 0 19176 0 60287 0 267773 0 0 0 GREGORY N BROWN VP FINANCE & ADMINISTRATION 234445 0 0 0 0 0 15167 0 9977 0 259589 0 0 0 REBECCA S CHOPP PRESIDENT & EX-OFFICIO TRUSTEE 421056 0 0 0 293423 0 28167 0 37033 0 779679 0 0 0 KARL W CLAUSS VP DEVELOPMENT & ALUMNI REL. 257748 0 0 0 0 0 52878 0 60455 0 371081 0 0 0 MAURICE G ELDRIDGE VP COLLEGE & COMMUNITY REL. 251153 0 0 0 0 0 24575 0 8295 0 284023 0 0 0 C STUART HAIN VP FACILITIES & SERVICES 212170 0 0 0 0 0 21188 0 1630 0 234988 0 0 0 CONSTANCE HUNGERFORD PRESIDENT & EX-OFFICIO TRUSTEE 299348 0 0 0 0 0 63957 0 10760 0 374065 0 0 0 NANCY NOWICKI NICELY SECRETARY & VP COMMUNICATION 218565 0 0 0 0 0 21956 0 19108 0 259629 0 0 0 EILEEN E PETULA TREASURER & ASSOC. VP FINANCE 170140 0 0 0 0 0 17120 0 8471 0 195731 0 0 0 PAMELA PRESCOD-CAESAR VP HUMAN RESOURCES 183962 0 0 0 0 0 18384 0 19019 0 221365 0 0 0 THOMAS STEPHENSON PROVOST 247020 0 0 0 0 0 53839 0 37322 0 338181 0 0 0 HELENE SHAPIRO PROFESSOR 61120 0 0 0 350124 0 6182 0 5415 0 422841 0 0 0 NELSON MACKEN PROFESSOR 219045 0 0 0 0 0 20383 0 15985 0 255413 0 0 0 ALLEN SCHNEIDER PROFESSOR 210684 0 0 0 0 0 21663 0 15976 0 248323 0 0 0 ARTHUR MCGARITY PROFESSOR 193544 0 0 0 0 0 16820 0 15901 0 226265 0 0 0 BARRY SCHWARTZ PROFESSOR 190910 0 0 0 0 0 18160 0 3069 0 212139 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 DEVELOPMENT & ALUMNI RELATIONS 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 THREE NEW YORK UNIVERSITY CLUBS TO BE USED FOR BUSINESS PURPOSES (ENTERTAINMENT / TRAVEL). -------------------- SCHEDULE J, PART II ADDITIONAL INFORMATION ALL DEFERRED COMPENSATION AMOUNTS 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. REBECCA S. CHOPP - OTHER COMPENSATION FIGURE IS A RESULT OF THE PAYMENT OF ACCRUED LEAVE COMPENSATION AND BENEFITS. REBECCA S. CHOPP - NON-TAXABLE BENEFITS FIGURE INCLUDES A HOUSING ALLOWANCE (SIX MONTHS OF 2014). 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 EMPLOYEMENT AGREEMENT. THOMAS STEPHENSON - DEFERRED COMPENSATION ALSO INCLUDES ACCRUED LEAVE COMPENSATION AND BENEFITS. -------------------- A SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2006B 232243929 870000FJO 2006-12-20 79638446 REFUNDING PRIOR BONDS- SEE PART VI false false false B SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2011 232243929 870000GNO 2011-06-29 30383328 REFUNDING PRIOR BONDS- SEE PART VI false false false C SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2011B 232243929 870000GY6 2011-12-21 17177979 VAR. CAPITAL PROJECTS- SEE PART VI false false false D SWARTHMORE COLLEGE BOROUGH AUTHORITY- SERIES 2013 232243929 870000JG2 2013-07-31 52616042 VAR. CAPITAL PROJECTS- SEE PART VI false false false A 2341446 0 81110700 0 0 0 656894 0 0 0 80453806 0 2006 false true true true B 1992328 0 30386246 0 0 0 330328 0 0 0 30055918 0 2011 true false true true C 1904979 0 17594759 0 0 0 137349 0 0 17457410 0 0 2014 false false true true D 2535042 0 52618593 0 0 0 353591 0 0 10435112 33885000 7944890 true false false true A 0.00000 0.00000 0.00000 0.00000 B 0.00000 0.00000 0.00000 0.00000 C false false false false 0.00000 0.00120 0.00120 false false 0.00000 false true D false false false false 0.00000 0.01170 0.01170 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 false false true false false 0 false 0 false true A true B true C true D true TAX EXEMPT BONDS SUPPLEMENTAL INFORMATION SCHEDULE K, PART I, COLUMN (F) DESCRIPTION OF PURPOSE FOR BONDS ISSUED PART I, LINE A THE PROCEEDS OF THE BONDS ISSUED ON 12/20/2006 WERE USED TO ADVANCE REFUND A PORTION OF THE SWARTHMORE COLLEGE REVENUE BONDS, SERIES OF 1998, ISSUED ON 7/1/98, TO ADVANCE REFUND A PORTION OF THE SWARTHMORE COLLEGE REVENUE BONDS, SERIES OF 2001, ISSUED ON 7/25/01, AND TO FUND THE COSTS OF ISSUING THE 2006 BONDS. PART I, LINE B THE PROCEEDS OF THE BONDS ISSUED ON 6/29/2011 WERE USED TO REFUND 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 C THE PROCEEDS OF THE BONDS 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 D THE PROCEEDS OF THE BONDS ISSUED ON 7/21/2013 WERE USED TO REFUND THE SWARTHMORE COLLEGE REVENUE BONDS, SERIES 2008, ISSUED ON 4/30/2008, AND SERIES 2009, ISSUED ON 7/29/2009. REMAININING PROCEEDS WILL BE USED FOR VARIOUS TAX EXEMPT CAPITAL PROJECTS AND TO FUND THE COSTS OF ISSUING THE 2013 BONDS. --------------- SCHEDULE K, PART II, LINE 3 DETAIL OF TOTAL PROCEEDS OF ISSUE THE TOTAL PROCEEDS OF ISSUE REPORTED FOR EACH BOND LISTED INCLUDES INVESTMENT EARNINGS. --------------- SCHEDULE K, PART II, LINE 13 YEAR OF SUBSTANTIAL COMPLETION THE SERIES 2013 BOND (COLUMN D), HAS NOT YET MET THE DEFINITION OF "SUBSTANTIAL COMPLETION". AS A RESULT, NO YEAR HAS BEEN ENTERED. --------------- SCHEDULE K, PART IV, LINE 2C DATE REBATE COMPUTATION WAS PERFORMED COLUMN A: 09/30/2011 COLUMN B: 06/28/2012 COLUMN C: 12/20/2014 COLUMN D: 07/30/2015 --------------- JAMES L BOCK III OFFICER MORTGAGE X 340000 231097 false true true GREGORY N BROWN OFFICER MORTGAGE X 410000 398629 false true true MAURICE G ELDRIDGE OFFICER MORTGAGE X 197022 84305 false true true PAMELA PRESCOD-CASEAR OFFICER MORTGAGE X 315500 309946 false true true THOMAS STEPHENSON OFFICER MORTGAGE X 328000 211356 false true true 1235333 MARSHFIELD ASSOCIATES SEE SCHEDULE L, PART V 198684 INVESTMENT MGMT FEES false TEMIN AND COMPANY INC SEE SCHEDULE L, PART V 241150 CONSULTING FEES false SCHEDULE L, PART IV DETAIL OF BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS CHRISTOPHER M. NIEMCZEWSKI, TRUSTEE, AND HIS FAMILY HAVE AN OWNERSHIP INTEREST IN MARSHFIELD ASSOCIATES. DAVIA TEMIN, TRUSTEE, HAS AN OWNERSHIP INTEREST IN TEMIN AND COMPANY, INC. X 111 1930969 FMV X BUILDING MATERIALS 1 141535 FMV 0 false true false SCHEDULE M, PART I, COLUMN (B) INFORMATION REGARDING NUMBER OF CONTRIBUTIONS SWARTHMORE COLLEGE IS REPORTING THE AGGREGATE NUMBER OF CONTRIBUTIONS RECEIVED ON SCHEDULE M, PART I, COLUMN (B)(NOT THE TOTAL NUMBER OF ITEMS RECEIVED). --------------- 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 SECURITY CONTRIBUTIONS IT MAY RECEIVE. FORM 990, PART VI, LINE 2 DETAIL OF FAMILY OR BUSINESS RELATIONSHIPS EUGENE M. LANG, EMERITUS CHAIR, AND JANE LANG, TRUSTEE, HAVE A FAMILY RELATIONSHIP. MARGE PEARLMAN SCHEUER, EMERITA TRUSTEE, AND ELIZABETH H. SCHEUER, TRUSTEE, HAVE A FAMILY RELATIONSHIP. -------------------- FORM 990, PART VI, SECTION B, LINE 11 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, SECTION B, 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 RECEIVES 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 RECEIVES A SUMMARY OF ALL RESPONSES AND ADDRESSES ANY POTENTIAL CONFLICTS WHICH ARISE. -------------------- FORM 990, PART VI, SECTION B, LINE 15 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, SECTION C, LINE 19 DOCUMENTS AVAILABILITY 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 CHANGE IN PRESENT VALUE OF LIFE INCOME FUNDS: $ 277,000 CHANGE IN OTHER POST RETIREMENT BENEFITS: (1,165,000) ____________ TOTAL $ (888,000) -------------------- PARRISH LLC 500 COLLEGE AVE SWARTHMORE PA 19081 460563007 INN/RESTAURNT PA 0 236 SWARTHMORE MARJAY PRODUCTIONS INC 1007 ORANGE STREET SUITE 1410 WILMINGTON DE 19801 131952572 LITERARY WORKS DE NA C CORPORATION 119448 54674 1.00000 true CHARITABLE REMAINDER ANNUITY TRUSTS N/A PA NA TRUST false CHARITABLE REMAINDER UNITRUSTS N/A PA NA TRUST false NET INC CHARITABLE REMAINDER UNITRUSTs N/A PA NA TRUST false 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.