2014-05-08T14:24:29-05:00 2013-06-30 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1700 PHILADELPHIA PA 19103 990 2012-07-01 231352683 SWARTHMORE COLLEGE % EILEEN PETULA SWAR 6103288676 500 COLLEGE AVENUE Suite SWARTHMORE PA 190811306 SUZANNE P WELSH 6103288676 2014-05-08 true 2673303000 2012 2015-11-30 17:44:51Z SUZANNE P WELSH 500 COLLEGE AVENUE SWARTHMORE PA 19081 1340246186 false X www.swarthmore.edu X 1864 PA SEE ATTACHMENT 1 37 36 2519 1417 106134 -462555 21907000 52686000 79979000 83625000 94555878 102458174 7935535 6650469 204377413 245419643 28034000 28395000 0 0 72963782 76802088 85516 63685 4433295 54627100 55544599 155710398 160805372 48667015 84614271 1905688000 2076005000 278433000 285312000 1627255000 1790693000 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 RIGOR AND TO THE RESPONSIBILITY TO USE THAT RIGOR 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 STUDENTS LEARN BOTH INSIDE AND OUTSIDE THE CLASSROOM. false false 122679954 28395000 83625000 Swarthmore is a co-educational College of Liberal Arts and Engineering. The average enrollment for fiscal year 2012-13 was 1,552 (77 of which were studying abroad). Of the total student population, 1,401 come from across the United States while 151 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 53% of the student body received financial aid from the College in fiscal year ending June 30, 2013. 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, hanndicap, 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. 122679954 true true false false false false false true false true true true false false true true true true true true 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 false true true true false false true 2210 0 true 2519 true true true false false false false false 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 EILEEN PETULA 6103288399 500 COLLEGE AVENUE SWARTHMORE PA 190811306 GILES K KEMP 6.0 0.0 X X JENNY HOURIHAN BAILIN 4.0 0.0 X RICHARD A BARASCH 2.0 0.0 X JANET SMITH DICKERSON 4.0 0.0 X DAVID GELBER 4.0 0.0 X DELVIN DINKINS 2.0 0.0 X LEWIS H LAZARUS 2.0 0.0 X NEIL R GRABOIS 2.0 0.0 X MARILYN HOLIFIELD 2.0 0.0 X JAMES C HORMEL 2.0 0.0 X ANN REICHELDERFER 2.0 0.0 X BARBARA W MATHER 4.0 0.0 X JANE LANG 2.0 0.0 X SUSAN B LEVINE 2.0 0.0 X BENNETT LORBER 4.0 0.0 X CHRISTOPHER M NIEMCZEWSKI 4.0 0.0 X SIBELLA CLARK PEDDER 2.0 0.0 X ELIZABETH H SCHEUER 2.0 0.0 X ROBIN M SHAPIRO 4.0 0.0 X SUJATHA SRINIVASAN 2.0 0.0 X DAVID W SINGLETON 4.0 0.0 X RUTH SHOEMAKER WOOD 2.0 0.0 X JOSEPH L TURNER 2.0 0.0 X GUSTAVO SCHWED 2.0 0.0 X SOHAIL BENGALI 2.0 0.0 X NATHANIEL AK ERSKINE 2.0 0.0 X THOMAS WT HARTNETT 2.0 0.0 X LUCINDA LEWIS 2.0 0.0 X JAMES LOVELACE 2.0 0.0 X RHONDA RESNICK COHEN 4.0 0.0 X EUGENE M LANG 2.0 0.0 X SAMUEL L HAYES III 2.0 0.0 X JULIE LANGE HALL 2.0 0.0 X JEROME KOHLBERG 2.0 0.0 X ELIZABETH J McCORMACK 2.0 0.0 X MARGE PEARLMAN SCHEUER 2.0 0.0 X J LAWRENCE SHANE 2.0 0.0 X REBECCA S CHOPP 60.0 0.0 X X 553120 0 160073 S Leslie Jewett 2.0 0.0 X Harold Kalkstein 4.0 0.0 X David Ko 2.0 0.0 X Danielle M Lee 2.0 0.0 X June R Scott 2.0 0.0 X Salem D Shuchman 4.0 0.0 X X Davia Temin 2.0 0.0 X Robert Steelman 2.0 0.0 X SUZANNE P WELSH 60.0 0.0 X 312014 0 42925 THOMAS STEPHENSON 60.0 0.0 X 209338 0 115602 MAURICE G ELDRIDGE 60.0 0.0 X 237187 0 36709 KARL W CLAUSS 60.0 0.0 X 205705 0 75762 MARK C AMSTUTZ 60.0 0.0 X 211679 38876 C STUART HAIN 60.0 0.0 X 196519 0 22497 JAMES L BOCK III 60.0 0.0 X 191638 0 37366 PAMELA PRESCOD-CAESAR 60.0 0.0 X 157996 0 35801 H ELIZABETH BRAUN 60.0 0.0 X 172437 0 75495 NANCY NOWICKI NICELY 60.0 0.0 X 203322 38164 LORI ANN JOHNSON 40.0 0.0 X 105320 11004 ROBINSON G HOLLISTER 40.0 0.0 X 220989 0 36225 Scott F Gilbert 40.0 0.0 X 359061 0 2830 Deborah GKemler Nelson 40.0 0.0 X 330450 0 7875 Constance C Hungerford 40.0 0.0 X 239004 0 31872 Peter J Collings 40.0 0.0 X 199540 0 27085 DAVID FRASER 0.0 0.0 X 191520 0 0 4296839 0 796161 133 true true false HAMILTON LANE ADVISORS LLC ONE BELMONT AVENUE SUITE 900 BALA CYNWYD PA 19004 INVESTMENT ADVISORS 866666 CAMBRIDGE ASSOCIATES LLC PO BOX 10317 UNIONDALE NY 11555 INVESTMENT ADVISORS 734416 Cope Linder Architects 30 South 15th Street PHILADELPHIA PA 19102 Architecture 335035 PROSPECTOR PARTNERS LLC 370 CHURCH STREET GUILFORD CT 06437 INVESTMENT ADVISORS 282921 PRICEWATERHOUSECOOPERS LLP 2001 MARKET STREET SUITE 1700 PHILADELPHIA PA 19103 AUDIT & TAX 211766 13 1989000 50697000 25770024 52686000 TUITION & FEES 611600 66421000 66421000 ROOM & BOARD 611600 17204000 17204000 83625000 59483458 59483458 0 275020 275020 1505847 1414628 91219 0 91219 91219 1136849186 1093411915 43437271 -462555 42974716 -462555 43437271 0 0 0 SUMMER PROGRAMS 713990 568689 568689 AUXILIARY SERVICES 900099 5715541 5715541 6284230 245419643 83625000 106134 109002509 0 28395000 28395000 0 0 3295905 1746991 1548914 0 54878862 41869276 10774372 2235214 4959816 3730927 1031351 197538 9621485 6392737 2916174 312574 4046020 3053041 839503 153476 0 624802 223590 400281 931 196432 196432 0 63685 63685 5678000 5678000 4777462 2566022 1878098 333342 852130 204195 640899 7036 4720295 3644265 970338 105692 2693989 1820914 822121 50954 0 2061295 1576690 421396 63209 2653718 1809264 540671 303783 0 1605567 1123548 396249 85770 6810589 5160332 1454444 195813 0 7293063 5615658 1458613 218792 793653 793049 604 FOREIGN STUDIES 3178868 3178868 ANNUITY PAYMENTS 2112669 1792588 320081 BOOKSTORE RELATED 679990 679990 EQUIP PURCH, RENTAL, & MAINT 3191173 2076835 1074641 39697 5620904 5226174 328941 65789 160805372 122679954 33692123 4433295 32265000 23343000 0 0 17006000 27816000 2397000 1236000 376417 357774 0 0 14103583 13884226 582095 609657 2917905 2629343 366033000 119100000 239966000 246933000 717448000 842791000 861307000 909989000 0 0 0 0 17319000 6416000 1905688000 2076005000 17624000 16681000 0 0 2239000 2170000 212010000 205621000 0 0 0 0 854000 843000 0 0 45706000 59997000 278433000 285312000 X 638391000 693556000 802184000 899189000 186680000 197948000 1627255000 1790693000 1905688000 2076005000 X 84614271 78936729 5678000 -5791000 X true X true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4591000 4591000 X X X false 1498775000 15694000 181752000 12432000 43426000 5678000 1634685000 1508483000 7194000 36458000 11458000 37400000 4502000 1498775000 1249254000 2716000 307084000 10931000 34964000 4676000 1508483000 1128675000 1746000 169566000 10704000 35621000 4408000 1249254000 0.37000 0.58000 0.05000 false false 5757000 5757000 302530000 77114000 225416000 34221000 24392000 9829000 18934000 17594000 1340000 4591000 4591000 246933000 FIXED INCOME 38250000 F PUBLIC EQUITY 164346000 F REAL ASSETS 146135000 F PRIVATE EQUITY 316384000 F MARKETABLE ALTERNATIVES 243097000 F OTHER 1777000 F 909989000 0 DEFERRED PAYMENTS 59997000 59997000 291585000 84614729 84614729 206970271 5678000 32771372 38449372 245419643 128147000 128147000 5678000 26980372 32658372 160805372 SCHEDULE D EXPLANATIONS PART III, LINE 4 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. PART V, LINE 4 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. PART X, LINE 2 PER THE REQUIREMENT TO ASSESS UNCERTAIN TAX POSITIONS, NO ADJUSTMENTS TO THE FINANCIAL STATEMENTS WERE REQUIRED AS A RESULT OF THE STANDARD. THE COLLEGE WILL CONTINUE TO MONITOR AND EVALUATE ITS UNRELATED BUSINESS ACTIVITY. Part XII, Line 4b Linbe 4b, Other: This figure represents the following: Costs of rental housing (1,414,628) Change in present value of life income funds 5,791,000 Student aid 28,395,000 TOTAL _________________ 32,771,372 Part XII, Line 4b Line 4b, Other: This figure represents the following: Costs of rental housing (1,414,628) Student aid 28,395,000 TOTAL _______________ 26,980,372 true true true true true true true false false false false false false false false true false true PART I, LINE 3 The college's non-discriminatory policy is included in all printed and broadcast advertising as well as in the college catalogs. It is also in print in various locations on campus. PART I, Line 6a 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 141000 Sub-Saharan Africa Program Services STUDY ABROAD 4000 Europe (Including Iceland and Greenland) Program Services Study Abroad 857000 South America Program Services Study Abroad 137000 Europe (Including Iceland and Greenland) Investments N/A 57727000 Central America and the Caribbean Investments N/A 146021000 Middle East and North Africa Investments N/A 130000 205017000 205017000 true false true true true false true MARTS LUNDY 1200 WALL ST LYNDHU GENERAL CONSULTING false 50135488 51873 50083615 VALERIE M JONES ASSOCIATES 210 IDL GENERAL CONSULTING false 561512 11813 549699 50697000 63686 50633314 All States true SWARTHMORE COLLEGE FUNDS/SCHOLARSHIPS 815 28395000 N/A N/A PART III 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 false false false false false false false false false REBECCA S CHOPP 553120 0 0 0 0 0 94150 0 65923 0 713193 0 0 0 SUZANNE P WELSH 312014 0 0 0 0 0 25000 0 17925 0 354939 0 0 0 THOMAS STEPHENSON 209338 0 0 0 0 0 80944 0 34658 0 324940 0 0 0 MAURICE G ELDRIDGE 237187 0 0 0 0 0 24113 0 12596 0 273896 0 0 0 KARL W CLAUSS 205705 0 0 0 0 0 20833 0 54929 0 281467 0 0 0 MARK C AMSTUTZ 211679 0 0 21569 17307 250555 0 C STUART HAIN 196519 0 0 0 0 0 19830 0 2667 0 219016 0 0 0 JAMES L BOCK III 191638 0 0 0 0 0 19707 0 17659 0 229004 0 0 0 PAMELA PRESCOD-CAESAR 157996 0 0 0 0 0 14583 0 21218 0 193797 0 0 0 H ELIZABETH BRAUN 172437 0 0 0 0 0 17904 0 57591 0 247932 0 0 0 NANCY NOWICKI NICELY 203322 0 0 20450 17714 241486 0 DAVID FRASER 0 0 0 0 191520 0 0 0 0 0 191520 0 0 0 ROBINSON G HOLLISTER 220989 0 0 0 0 0 20630 0 15595 0 257214 0 0 0 Scott F Gilbert 26040 0 0 0 333021 0 2342 0 488 0 361891 0 0 0 Deborah GKemler Nelson 67116 0 0 0 263334 0 6588 0 1287 0 338325 0 0 0 Constance C Hungerford 239004 0 0 0 0 0 23625 0 8247 0 270876 0 0 0 Peter J Collings 199540 0 0 0 0 0 19077 0 8008 0 226625 0 0 0 Schedule J Supplemental Information Part III, Line 1a First Class Travel - In general, it is the college's 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 - 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 & Vice-President Development & Alumni Relations maintained their full time residence in College-provided housing and used the residence for College business and entertainment purposes. Social club dues - Membership dues were provided to three New York University clubs to be used primarily for business purposes (entertainment / travel). Additional Information for Part II of Schedule J: Deferred compensation figures provided include employer contributions to a qualified retirement plan. Rebecca S. Chopp - Deferred compensation figure is a result of accrued leave compensation and benefits. Rebecca S. Chopp - 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. Thomas Stephenson - Deferred compensation also includes accrued leave compensation and benefits. H. Elizabeth Braun - Non-taxable benefits figure includes a housing allowance. See "residence requirement" above. David W. Fraser - Other reportable compensation figure was a supplemental retirement payment. Scott F. Gilbert - Other reportable compensation figure was an early retirement payment. Deborah G. Kemler Nelson - Other reportable compensation figure was an early retirement payment. A SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000FJ0 2006-12-20 79638446 SEE PART VI false false false B SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000GH3 2008-04-30 27925671 SEE PART VI false false false C SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000GJ9 2009-07-29 9453814 SEE PART VI false false false D Swarthmore College Borough Authority 232243929 870000GY6 2011-06-29 30383328 SEE PART VI false false false A 0 0 79638446 0 0 0 656894 0 0 0 78981552 0 false true true true B 0 0 27925671 0 0 0 325671 0 0 0 27600000 0 true false true true C 0 0 9453814 0 0 0 189076 0 0 0 9264738 0 true false true true D 0 0 30383328 0 0 0 320328 0 0 0 30053000 0 true false true true A 0 false false false B false false false false 0 0.02650 0.02650 false false false true C 0 false false false D 0 false false false 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 true true false false 0 false 0 false true D false true true 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 0 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 2006A Bonds. Part I, Line B The proceeds of the bonds issued on 4/30/2008 were used to refund the Swarthmore College Revenue Bonds, Series B of 2006, variable auction rates notes issued on 12/20/06, and to fund the costs of issuing the 2008 Bonds. Part I, Line C The proceeds of the bonds issued on 7/29/2009 were used to refund a portion of the Swarthmore College Revenue Bonds, Series 1998, issued on 7/1/1998, and to fund the costs of issuing the 2009 Bonds. Part I, Line D The proceeds of the bonds 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 E The proceeds of the bonds issued on 12/21/2011 will be used for various tax-exempt capital projects and to fund the cost issung the 2011B Bonds. Part II, Line 13 - Year of substantial completion For the 12/20/2006, 04/30/2008, 07/29/2009 & 06/29/2011 Bonds (Columns A through D), each of these bonds solely refunded prior issues so that year of substantial completion has not been entered. The 12/21/2011 Bonds (Column E) have not yet met the definition of "substantial completion". As a result, no year has been entered. Part IV, Line 2c - Date rebate computation was performed Column A: 10/11/2011 Column B: 02/24/2012 and 11/25/2013 (Final) Column C: 07/28/2010 and 11/25/2013 (Final) Column D: 09/06/2012 A SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000GY6 2011-12-21 17177979 SEE PART VI false false false A 0 0 17177979 0 0 0 137349 0 0 13162201 0 3878429 false false false true A false false false false 0 0.00010 0.00010 false false false true A false true false false 0 0 true A true JAMES L BOCK III MORTGAGE X 340000 252924 false true true MAURICE G ELDRIDGE MORTGAGE X 197022 104850 false true true 357774 Marshfield Associates SEE PART V 196253 INVESTMENT MANAGEMENT FEES false SCHEDULE L, PART IV, LINE 1B CHRISTOPHER M. NIEMCZEWSKI AND HIS FAMILY HAVE AN OWNERSHIP INTEREST IN MARSHFIELD ASSOCIATES. X 108 25763374 FAIR MARKET VALUE X EQUIPMENT 1 6650 FAIR MARKET VALUE 0 false true true SCHEDULE M EXPLANATIONS THE COLLEGE MAINTAINS ACCOUNTS AT SEVERAL BROKERAGE FIRMS TO FACILITATE THE SALE OF ANY NON-CASH CONTRIBUTIONS IT MAY RECEIVE. THE COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS MADE (NOT THE NUMBER OF ITEMS RECEIVED). FORM 990 EXPLANATIONS PART VI, LINE 2 EUGENE M. LANG AND JANE LANG (FAMILY RELATIONSHIP). MARGE PEARLMAN SCHEUER AND ELIZABETH H. SCHEUER (FAMILY RELATIONSHIP). PART VI, LINE 11 & 11A Annually, the 990 is reviewed by the appropriate senior management along with a public accounting firm. It is also provided to the Audit SubCommittee, the Finance Committee, and the Board of Managers for their review prior to its submission. PART VI, LINE 12C 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 Subcommittee of the Board of Managers receives a summary of all responses and addresses possible conflicts which arise. PART VI, LINE 15B For each compensated officer, director, trustee and key employee, the independent compensation committee of the Board meets to review certain comparative data that is provided by an independent consultant. The compensation committee of the Board then meets with the President regarding the performance of each officer, director, trustee and key employee (excluding the President) and receives recommendations about raises for each of them. The compensation committee of the Board then meets separately to determine the compensation for each officer, director, trustee and key employee. This process is completed annually. For the President, the compensation committee of the Board also meets to review certain comparative data that is provided by an independent consultant. After reviewing said information, the compensation committee of the Board meets to determine the President's compensation. This process is completed annually. PART VI, LINE 19 The College makes its governing documents AND FORM 990 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. PART XI, LINE 9 Change in present value of life income funds: 207,000 Adjustment to pledges: (6,421,000) Change in other post retirement benefits: 423,000 TOTAL ______________ (5,791,000) MARJAY PRODUCTIONS INC 1007 ORANGE STREET SUITE 1410 WILMINGTON DE 19801 131952572 LITERARY WORKS DE NA C CORPORATION 197651 45745 1.00000 true CHARITABLE REMAINDER ANNUITY TRUSTS N/A PA NA TRUST CHARITABLE REMAINDER UNITRUSTS N/A PA NA TRUST NET INC CHARITABLE REMAINDER UNITRUSTs N/A PA NA TRUST true false false false false false false false false false false false false false false false false false MARJAY PRODUCTIONS INC A 70000 PER ESTATE DOC.