2016-02-22T13:18:11-06:00 2014-06-30 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1700 PHILADELPHIA PA 19103 990 2013-07-01 231352683 SWARTHMORE COLLEGE % ALICE TURBIVILLE SWAR 6103288676 500 COLLEGE AVENUE SWARTHMORE PA 19081 GREGORY N BROWN VP FOR FINANCE & ADM 6103288676 2016-02-19 true ANTONIO C RUSSO P00858539 6103288676 2013 2016-08-17 19:52:53Z X Gregory N Brown 500 COLLEGE AVENUE SWARTHMORE PA 19081 1118350503 false X www.swarthmore.edu X 1864 PA SEE ATTACHMENT 1 37 35 2605 1646 10773 -829695 52686000 27721000 83625000 85621000 102458174 145366076 6650469 7690924 245419643 266399000 28395000 28062000 0 0 76802088 80875639 63685 68710 4730230 55544599 59736380 160805372 168742729 84614271 97656271 2076005000 2340785000 285312000 296626000 1790693000 2044159000 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 128946384 28062000 85621000 Swarthmore is a co-educational College of Liberal Arts and Engineering. The average enrollment for fiscal year 2013-14 was 1,506. There were 151 students studying abroad. Of the total student population, 1,371 come from across the United States while 163 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, 2014. 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. 128946384 true true false false false false false true false true true true false false true false 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 2273 0 true 2605 true true true false false false false false false false false false X 37 35 true false false false false false false true true false false true true true true true true true true false PA X ALICE TURBIVILLE 6103286040 500 COLLEGE AVENUE SWARTHMORE PA 19081 X GILES K KEMP CHAIR 6.0 0.0 X X JENNY HOURIHAN BAILIN TRUSTEE 4.0 0.0 X RICHARD A BARASCH TRUSTEE 4.0 0.0 X SOHAIL BENGALI TRUSTEE 2.0 0.0 X RHONDA RESNICK COHEN TRUSTEE 4.0 0.0 X JANET SMITH DICKERSON TRUSTEE 4.0 0.0 X DAVID GELBER TRUSTEE 4.0 0.0 X DELVIN DINKINS TRUSTEE 2.0 0.0 X LEWIS H LAZARUS TRUSTEE 4.0 0.0 X NEIL R GRABOIS TRUSTEE 2.0 0.0 X MARILYN HOLIFIELD TRUSTEE 4.0 0.0 X JAMES C HORMEL TRUSTEE 2.0 0.0 X ANN REICHELDERFER TRUSTEE 2.0 0.0 X BARBARA W MATHER TRUSTEE 4.0 0.0 X JANE LANG TRUSTEE 2.0 0.0 X SUSAN B LEVINE TRUSTEE 4.0 0.0 X BENNETT LORBER TRUSTEE 4.0 0.0 X CHRISTOPHER M NIEMCZEWSKI TRUSTEE 4.0 0.0 X SIBELLA CLARK PEDDER TRUSTEE 2.0 0.0 X ELIZABETH H SCHEUER TRUSTEE 2.0 0.0 X ROBIN M SHAPIRO TRUSTEE 4.0 0.0 X SUJATHA SRINIVASAN TRUSTEE 4.0 0.0 X DAVID W SINGLETON TRUSTEE 4.0 0.0 X RUTH SHOEMAKER WOOD TRUSTEE 4.0 0.0 X JOSEPH L TURNER TRUSTEE 4.0 0.0 X GUSTAVO SCHWED TRUSTEE 2.0 0.0 X NATHANIEL AK ERSKINE TRUSTEE 2.0 0.0 X THOMAS WT HARTNETT TRUSTEE 4.0 0.0 X LUCINDA LEWIS TRUSTEE 2.0 0.0 X JAMES LOVELACE TRUSTEE 2.0 0.0 X EUGENE M LANG EMERITUS CHAIR 2.0 0.0 X SAMUEL L HAYES III EMERITUS TRUSTEE 2.0 0.0 X JULIE LANGE HALL EMERITA TRUSTEE 2.0 0.0 X JEROME KOHLBERG EMERITUS TRUSTEE 2.0 0.0 X ELIZABETH J McCORMACK EMERITA TRUSTEE 2.0 0.0 X MARGE PEARLMAN SCHEUER EMERITA TRUSTEE 2.0 0.0 X J LAWRENCE SHANE EMERITUS TRUSTEE 2.0 0.0 X ROBERT STEELMAN TRUSTEE 2.0 0.0 X 0 0 0 S Leslie Jewett Trustee 2.0 0.0 X Harold Kalkstein Trustee 4.0 0.0 X David Ko Trustee/ex officio Board Memb. 2.0 0.0 X Danielle M Lee Trustee 2.0 0.0 X June R Scott Trustee 2.0 0.0 X Salem D Shuchman Vice-Chair 4.0 0.0 X X Davia Temin Trustee 2.0 0.0 X REBECCA S CHOPP PRES./EX OFFICIO 40.0 0.0 X X 590497 0 259863 SUZANNE P WELSH VP FINANCE & TREASURER 40.0 0.0 X 325511 0 44115 THOMAS STEPHENSON PROVOST 40.0 0.0 X 225027 0 123420 MAURICE G ELDRIDGE VP COLLEGE & COMMUNITY REL. 40.0 0.0 X 253365 0 32872 KARL W CLAUSS VP DEVELOPMENT & ALUMNI REL. 40.0 0.0 X 249537 0 84880 MARK C AMSTUTZ MANAGING DIRECTOR OF INV. 40.0 0.0 X 219682 0 38429 C STUART HAIN VP FACILITIES & SERVICES 40.0 0.0 X 204347 0 22650 JAMES L BOCK III DEAN OF ADMISSIONS & FIN. AID 40.0 0.0 X 196353 0 38485 PAMELA PRESCOD-CAESAR VP HUMAN RESOURCES 40.0 0.0 X 180218 0 42321 H ELIZABETH BRAUN DEAN OF STUDENTS 40.0 0.0 X 183011 0 77949 NANCY NOWICKI NICELY SECRETARY & VP FOR COMMUNICATI 40.0 0.0 X 214960 0 39701 LORI ANN JOHNSON ASSISTANT TREASURER 40.0 0.0 X 107457 0 12538 Gregory N Brown VP Finance & Administration 40.0 0.0 X 0 0 0 Eileen E Petula Treasurer & Assoc VP for Fin. 40.0 0.0 X 148778 0 23909 Peter J Collings Professor 40.0 0.0 X 206987 0 28098 ROBINSON G HOLLISTER PROFESSOR 40.0 0.0 X 192500 0 33672 Stephen O'Connell Professor 40.0 0.0 X 208989 0 62536 Nelson Macken Professor 40.0 0.0 X 213863 0 35652 Allen Schneider Professor 40.0 0.0 X 204585 0 36943 4125667 0 1038033 154 false true false CVMNEXT CONSTRUCTION 1002 W 9TH AVENUE KING OF PRUSSIA PA 19409 BUILDING CONTRACTOR 3738762 CTC CONSTRUCTION INC PO Box 256 MECHANICSVILLE PA 18934 BUILDING CONTRACTOR 1116502 HAMILTON LANE ADVISORS LLC ONE PRESEDENTIAL BLVD 4TH FL BALA CYNWYD PA 19004 INVESTMENT ADVISORS 973999 CAMBRIDGE ASSOCIATES LLC 125 HIGH STREET BOSTON MA 02110 INVESTMENT ADVISORS 915188 CTC CONSTRUCTION MANAGEMENT INC PO BOX 256 MECHANICSVILLE PA 18934 BUILDING CONTRACTOR 828487 48 2068000 25653000 4736671 27721000 TUITION & FEES 611310 68121000 68121000 ROOM & BOARD 611310 17500000 17500000 85621000 66112167 66112167 63333 63333 256832 256832 1770053 1248271 521782 0 521782 521782 930723503 850703232 80020271 -829695 79190576 -829695 80020271 0 0 0 SUMMER PROGRAMS 713990 677973 677973 RENTAL INCOME (FROM DEBT FINANCED PROPERTY) 531120 162495 162495 AUXILIARY & OTHER SERVICES 611310 6071842 6071842 6912310 266399000 85621000 10773 153046227 0 28062000 28062000 0 0 3183446 1260563 1625164 297719 0 58315575 45119027 11102138 2094410 4926010 3768815 961994 195201 10252638 6877399 3078105 297134 4197970 3181572 853085 163313 0 838540 203829 634711 0 185052 0 185052 0 0 68710 68710 5974000 5974000 4878211 2819619 1849566 209026 954748 196085 644280 114383 5003406 3789241 1016469 197696 3174110 2256935 849399 67776 0 2210191 1698239 445187 66765 2676195 1867124 533970 275101 0 1812338 1229072 485554 97712 7361245 5685460 1459164 216621 0 7455291 5740574 1491058 223659 852795 852795 0 0 FOREIGN STUDIES 3720641 3720641 0 0 ANNUITY PAYMENTS 1992378 1695357 297021 0 BOOKSTORE RELATED 637927 637927 0 0 EQUIP PURCH, RENTAL, & MAINT 4143472 2749808 1348420 45244 5865840 5534302 231778 99760 168742729 128946384 35066115 4730230 23343000 28130000 0 0 27816000 31909000 1236000 2908000 357774 1286423 0 0 13884226 13054577 609657 629107 2629343 3189893 379487000 125858000 246933000 253629000 842791000 992407000 909989000 994431000 0 0 0 0 6416000 19211000 2076005000 2340785000 16681000 18117000 0 0 2170000 2148000 205621000 217762000 0 0 0 0 843000 0 0 0 59997000 58599000 285312000 296626000 X 693556000 776303000 899189000 1060356000 197948000 207500000 1790693000 2044159000 2076005000 2340785000 X 97656271 151962729 5974000 -2127000 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4666000 4666000 X X X false 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 1128675000 1746000 169566000 10704000 35621000 4408000 1249254000 0.37000 0.58000 0.05000 false false 5757000 5757000 349880000 107915000 241965000 0 0 0 19184000 17943000 1241000 4666000 4666000 253629000 FIXED INCOME 37475000 F PUBLIC EQUITY 241960000 F REAL ASSETS 160358000 F PRIVATE EQUITY 323167000 F MARKETABLE ALTERNATIVES 229661000 F OTHER 1810000 F 994431000 0 EMPLOYEE AND FORMER EMPLOYEES 18062000 CONDITIONAL GIFT LIABILITY 24759000 DONORS 14718000 CONDITIONAL ASSET RETIREMENT OBLIGATION 1060000 58599000 389421000 157936729 157936729 231484271 5974000 28940729 34914729 266399000 135955000 135955000 5974000 26813729 32787729 168742729 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 LINE 4B, OTHER: THIS FIGURE REPRESENTS THE FOLLOWING: COSTS OF RENTAL HOUSING (1,248,271) CHANGE IN PRESENT VALUE OF LIFE INCOME FUNDS 2,127,000 STUDENT AID 28,062,000 ____________ TOTAL 28,940,729 PART XIII, LINE 4B LINE 4B, OTHER: THIS FIGURE REPRESENTS THE FOLLOWING: COSTS OF RENTAL HOUSING (1,248,271) STUDENT AID 28,062,000 ____________ TOTAL 26,813,729 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. Central America and the Caribbean Program Services Study Abroad 10000 East Asia and the Pacific Program Services Study Abroad 88641 Europe (Including Iceland and Greenland) Program Services Study Abroad 981885 South America Program Services Study Abroad 116204 Central America and the Caribbean Investments N/A 135506941 Europe (Including Iceland and Greenland) Investments N/A 56834730 Middle East and North Africa Investments N/A 105000 North America Investments N/A 574873 194218274 194218274 true false false true true false true MARTS LUNDY 1200 WALL ST LYNDHU GENERAL CONSULTING false 24613914 38106 24575808 VALERIE M JONES ASSOCIATES 210 IDL GENERAL CONSULTING false 726479 5444 721035 KIMBIA 1050 EAST 11TH ST Suite 20 GENERAL CONSULTING false 312607 25160 287447 25653000 68710 25584290 All States true SWARTHMORE COLLEGE FUNDS/SCHOLARSHIPS 789 28062000 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 SUZANNE P WELSH VP FINANCE & TREASURER 325511 0 0 0 0 0 25500 0 18615 0 369626 0 0 0 THOMAS STEPHENSON PROVOST 225027 0 0 0 0 0 87366 0 36054 0 348447 0 0 0 MAURICE G ELDRIDGE VP COLLEGE & COMMUNITY REL. 244843 0 8522 0 0 0 24446 0 8426 0 286237 0 0 0 KARL W CLAUSS VP DEVELOPMENT & ALUMNI REL. 249537 0 0 0 0 0 25040 0 59840 0 334417 0 0 0 MARK C AMSTUTZ MANAGING DIRECTOR OF INV. 219682 0 0 0 0 0 22429 0 16000 0 258111 0 0 0 C STUART HAIN VP FACILITIES & SERVICES 204347 0 0 0 0 0 20570 0 2080 0 226997 0 0 0 JAMES L BOCK III DEAN OF ADMISSIONS & FIN. AID 196353 0 0 0 0 0 20314 0 18171 0 234838 0 0 0 PAMELA PRESCOD-CAESAR VP HUMAN RESOURCES 176325 0 3893 0 0 0 17806 0 24515 0 222539 0 0 0 H ELIZABETH BRAUN DEAN OF STUDENTS 179118 0 3893 0 0 0 18595 0 59354 0 260960 0 0 0 NANCY NOWICKI NICELY SECRETARY & VP FOR COMMUNICATI 211409 0 3551 0 0 0 21266 0 18435 0 254661 0 0 0 ROBINSON G HOLLISTER PROFESSOR 192500 0 0 0 0 0 17815 0 15857 0 226172 0 0 0 REBECCA S CHOPP PRES./EX OFFICIO 576111 0 14386 0 0 0 192168 0 67695 0 850360 0 0 0 Peter J Collings Professor 206987 0 0 0 0 0 19847 0 8251 0 235085 0 0 0 Eileen E Petula Treasurer & Assoc VP for Fin. 148778 0 0 0 0 0 15220 0 8689 0 172687 0 0 0 Stephen O'Connell Professor 208989 0 0 0 0 0 14413 0 48123 0 271525 0 0 0 Nelson Macken Professor 213863 0 0 0 0 0 19857 0 15795 0 249515 0 0 0 Allen Schneider Professor 204585 0 0 0 0 0 21100 0 15843 0 241528 0 0 0 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 ALSO INCLUDES 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. GREGORY N. BROWN - BECAME AN OFFICER IN JUNE 2014. AS A RESULT, HAD NO REPORTABLE COMPENSATION FOR THE CALENDAR YEAR 2013. A SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000FJ0 2006-12-20 79638446 SEE PART VI false false false B SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000GN0 2011-06-29 30383328 SEE PART VI false false false C SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000GY6 2011-12-21 17177979 SEE PART VI false false false D SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000JG2 2013-07-31 52616042 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 30383328 0 0 0 330328 0 0 0 30053000 0 true false true true C 0 0 17177979 0 0 0 137349 0 0 17040630 0 0 false false true true D 0 0 52616042 0 0 0 353591 0 0 0 0 18380659 true false false true A 0 false false false B 0 false false false C false false false false 0 0.00150 0.00150 false false false true D false false false false 0 0.01420 0.01420 false false false true A false false false true false false 0 false 0 false true B false true true true false false 0 false 0 false true C false true true false false 0 false 0 false true D false 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 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 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 will be used for various tax-exempt capital project 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, used for various tax exempt capital projects and to fund the costs of issuing the 2013 Bonds. Part II, Line 13 - Year of substantial completion For the 12/20/2006 and 6/30/2011 Bonds (Columns A and B), these bonds solely refunded prior bond issues so that year of substantial completion has not yet been entered. For the 12/21/2011 and 7/31/2013 Bonds (Columns C and D), 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: 09/30/2011 Column B: 06/28/2012 Column C: 12/20/2014 Column D: 07/30/2014 James L Bock III Officer MORTGAGE X 340000 242226 false true true Gregory N Brown Officer MORTGAGE X 410000 407175 false true true Maurice G Eldridge Officer MORTGAGE X 197022 95718 false true true Pamela Prescod-Caesar Officer MORTGAGE X 315500 314132 false true true Thomas Stephenson Officer MORTGAGE X 328000 227172 false true true 1286423 Marshfield Associates SEE PART V 204232 Investment Mgt. Fees false Temin and Company Inc SEE PART V 298050 Consulting Fees false SCHEDULE L, PART IV, LINE 1B CHRISTOPHER M. NIEMCZEWSKI AND HIS FAMILY HAVE AN OWNERSHIP INTEREST IN MARSHFIELD ASSOCIATES. SCHEDULE L, PART IV, LINE 2B DAVIA TEMIN HAS AN OWNERSHIP INTEREST IN TEMIN & COMPANY. X 101110 Fair Market Value X 123 4635561 Fair Market Value false false false 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). AMENDED RETURN - EXPLANATION OF CHANGES THE JUNE 30, 2014 FORM 990 OF SWARTHMORE COLLEGE IS BEING AMENDED IN ORDER TO CORRECT THE INFORMATION PREVIOUSLY REPORTED RELATED TO FORM 990, PART VII, SECTION B- TOP FIVE HIGHEST COMPENSATED INDEPENDENT CONTRACTORS AND TOTAL NUMBER OF INDEPENDENT CONTRACTORS COMPENSATED OVER $100,000. --------------- 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 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 THE BOARD OF MANAGERS FOR THEIR REVIEW. --------------- 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 AND RISK MANAGEMENT COMMITTEE 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: (728,000) CHANGE IN OTHER POST RETIREMENT BENEFITS: (1,399,000) _____________ TOTAL (2,127,000) --------------- PARRISH LLC 500 COLLEGE AVE SWARTHMORE PA 19081 460563007 INN/RESTAURAN PA 0 522 SWARTHMORE MARJAY PRODUCTIONS INC 1007 ORANGE STREET SUITE 1410 WILMINGTON DE 19801 131952572 LITERARY WORKS DE NA C CORPORATION 96610 36109 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 false Marjay Productions Inc A 70000 PER ESTATE DOC.