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        <Explanation>The art and historical treasures primarily consist of paintings and drawings maintained for the preservation for future generations. At June 30, 2013 the value of such assets of the College were approximately $468,000.</Explanation>
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        <Explanation>The College's endowment consists of approximately 800 individual funds established for a variety of purposes, including both donor-restricted endowment funds and funds designated by the College to function as endowments (quasi-endowments). Annual spending from the endowment is set at 5% of the rolling three year average of the endowment's market value as of December 31st of the previous year and is approved annually by the Board of Trustees. This spending was used in accordance with donor or Board restrictions. The donor and Board restrictions include financial aid, instructional support, student internships, faculty research and support, and general operations of the College. The endowment funds listed in 1a through 1g exclude perpetual trusts and pledges of approximately $7.5 million at June 30, 2013. The perpetual trusts are held and administered for Barnard College by unrelated organizations.</Explanation>
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      <Form990ScheduleDPartXIII>
        <Identifier>SchD_P10_S00_L02</Identifier>
        <ReturnReference>Schedule D, Part X, Line 2</ReturnReference>
        <Explanation>The College complies with the guidance of ASC 740-10, Accounting for Uncertainty in Income Taxes, which addresses the accounting for uncertainties in income taxes recognized in an enterprise's financial statements. The College utilizes a threshold for more-likely than-not for recognition and derecognition of tax positions taken or expected to be taken in a tax return. ASC 740-10 also provides related guidance on the measurement, classification, interest and penalties, and disclosures.</Explanation>
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      <Form990ScheduleDPartXIII>
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        <ReturnReference>Schedule D, Part XI, Line 4b</ReturnReference>
        <Explanation>Other consists of Contributions for long term purposes of $ 11,471,269, Contributions for plant improvements of $ 2,661,608, Change in value of split interest agreements of $ 717,198, Financial aid allowance of $ 30,558,152, Fundraising events expense of ($ 227,613), and rental expense for non program service areas of ($ 1,352,731). The total of these adjustments equals $ 43,827,883.</Explanation>
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        <Explanation>Other consists of fundraising event expense of $ 227,613, and rental expense for non program services areas of $ 1,352,731. The total of these adjustments equals $ 1,580,344.</Explanation>
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        <Explanation>Other consists of Financial aid allowance of $30,558,152, Change in value of obligation under derivative instrument of $(310,135) and Postretirement benefit cost other than net periodic benefit cost of $(643,687). The total of these adjustments equals $29,604,330.</Explanation>
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        <Explanation>All Federal financial aid administered by Barnard College is based on demonstrated financial need as determined by the Federal Methodology formula. However institutional aid is determined using a Barnard Need Analysis formula which takes into consideration all sources of income and all assets. Barnard does not provide merit scholarships. The College believes that the primary responsibility for financing educational cost rests with each student's family, and all college aid is supplementary to family resources. Once need has been established, Barnard makes every effort to meet the need of all eligible students with a combination of grants, loans and employment opportunities. A student who is admitted to Barnard with financial aid cannot be guaranteed college grants for future years. Awards are for one academic year only. A student can receive Barnard aid for a maximum of eight semesters. Each semester a student is enrolled is counted towards the eight semesters of eligibility whether or not aid was received. No financial aid is given for summer study. If a student has room in her academic year financial aid package and has not already borrowed the maximum loans, these funds may be borrowed during the academic year to be used for classes the following semester. For financial statement purposes, the Pell grant awards of $2,090,639 are excluded.</Explanation>
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        <CUSIPNumber>649903NL1</CUSIPNumber>
        <DateIssued>2007-07-11</DateIssued>
        <IssuePrice>50184096</IssuePrice>
        <DescriptionOfPurpose>See Part VI</DescriptionOfPurpose>
        <Defeased>0</Defeased>
        <OnBehalfOfIssuer>0</OnBehalfOfIssuer>
        <PoolFinancing>0</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <BondReferenceCd>C</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>Dormitory Authority of the State of New York</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>146000293</IssuerEIN>
        <CUSIPNumber>649903ZP9</CUSIPNumber>
        <DateIssued>2008-04-24</DateIssued>
        <IssuePrice>28040000</IssuePrice>
        <DescriptionOfPurpose>See Part VI</DescriptionOfPurpose>
        <Defeased>0</Defeased>
        <OnBehalfOfIssuer>0</OnBehalfOfIssuer>
        <PoolFinancing>0</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <BondReferenceCd>A</BondReferenceCd>
        <AmountRetired>0</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>28880374</TotalProceeds>
        <AmountInReserveFund>1222661</AmountInReserveFund>
        <CapitalizedInterest>2323773</CapitalizedInterest>
        <RefundingEscrow>0</RefundingEscrow>
        <IssuanceCostsFromProceeds>574425</IssuanceCostsFromProceeds>
        <CreditEnhancement>357977</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>25624199</CapitalExpenditures>
        <OtherSpentProceeds>0</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>2004</YearOfSubstCompletion>
        <CurrentRefunding>0</CurrentRefunding>
        <AdvanceRefunding>0</AdvanceRefunding>
        <FinalAllocationMade>1</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>1</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <BondReferenceCd>B</BondReferenceCd>
        <AmountRetired>0</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>50184096</TotalProceeds>
        <AmountInReserveFund>2921729</AmountInReserveFund>
        <CapitalizedInterest>2372625</CapitalizedInterest>
        <RefundingEscrow>23106537</RefundingEscrow>
        <IssuanceCostsFromProceeds>615989</IssuanceCostsFromProceeds>
        <CreditEnhancement>314954</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>23773991</CapitalExpenditures>
        <OtherSpentProceeds>0</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>2010</YearOfSubstCompletion>
        <CurrentRefunding>1</CurrentRefunding>
        <AdvanceRefunding>0</AdvanceRefunding>
        <FinalAllocationMade>1</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>1</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <BondReferenceCd>C</BondReferenceCd>
        <AmountRetired>0</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>28040000</TotalProceeds>
        <AmountInReserveFund>5304024</AmountInReserveFund>
        <CapitalizedInterest>0</CapitalizedInterest>
        <RefundingEscrow>27612047</RefundingEscrow>
        <IssuanceCostsFromProceeds>372367</IssuanceCostsFromProceeds>
        <CreditEnhancement>55586</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>0</CapitalExpenditures>
        <OtherSpentProceeds>0</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>2010</YearOfSubstCompletion>
        <CurrentRefunding>1</CurrentRefunding>
        <AdvanceRefunding>0</AdvanceRefunding>
        <FinalAllocationMade>1</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>1</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedProperty>0</OwningBondFinancedProperty>
        <AnyLeaseArrangements>0</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>0</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>0</AnyResearchAgreements>
        <PrcntgePrvtBusinessUseByOthers>0</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0</TotalPrivateBusinessUse>
        <BondIssMeetPrvtSecurityPayTest>1</BondIssMeetPrvtSecurityPayTest>
        <ChangeInUseBondFinancedProp>0</ChangeInUseBondFinancedProp>
        <NonQualifiedBondRemedProcdrs>0</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <BondReferenceCd>B</BondReferenceCd>
        <OwningBondFinancedProperty>0</OwningBondFinancedProperty>
        <AnyLeaseArrangements>0</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>0</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>0</AnyResearchAgreements>
        <PrcntgePrvtBusinessUseByOthers>0</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0</TotalPrivateBusinessUse>
        <BondIssMeetPrvtSecurityPayTest>1</BondIssMeetPrvtSecurityPayTest>
        <ChangeInUseBondFinancedProp>0</ChangeInUseBondFinancedProp>
        <NonQualifiedBondRemedProcdrs>0</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <BondReferenceCd>C</BondReferenceCd>
        <OwningBondFinancedProperty>0</OwningBondFinancedProperty>
        <AnyLeaseArrangements>0</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>0</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>0</AnyResearchAgreements>
        <PrcntgePrvtBusinessUseByOthers>0</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0</TotalPrivateBusinessUse>
        <BondIssMeetPrvtSecurityPayTest>1</BondIssMeetPrvtSecurityPayTest>
        <ChangeInUseBondFinancedProp>0</ChangeInUseBondFinancedProp>
        <NonQualifiedBondRemedProcdrs>0</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiled>1</Form8038TFiled>
        <VariableRateIssue>0</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>0</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>B</BondReferenceCd>
        <Form8038TFiled>1</Form8038TFiled>
        <VariableRateIssue>0</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>0</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>C</BondReferenceCd>
        <Form8038TFiled>1</Form8038TFiled>
        <VariableRateIssue>1</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>1</HedgeIdentifiedInBooksAndRecds>
        <NameOfHedgeProvider>
          <BusinessNameLine1>HSBC</BusinessNameLine1>
        </NameOfHedgeProvider>
        <TermOfHedge>7</TermOfHedge>
        <SuperintegratedHedge>0</SuperintegratedHedge>
        <HedgeTerminated>0</HedgeTerminated>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>0</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>A</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>0</ProcToUndertkCorrectiveAction>
      </Form990ScheduleKPartV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>B</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>0</ProcToUndertkCorrectiveAction>
      </Form990ScheduleKPartV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>C</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>0</ProcToUndertkCorrectiveAction>
      </Form990ScheduleKPartV>
      <Form990ScheduleKPartVI>
        <Identifier>SchK_P01_S00_L00a</Identifier>
        <ReturnReference>Schedule K, Part I, Column a</ReturnReference>
        <Explanation>The Series 2004 Bonds were issued (i) to pay for the costs of the Series 2004 Project (as defined hereafter), (ii) to pay a portion of the interest on the Series 2004 Bonds and (iii) to pay the Costs of Issuance of the Series 2004 Bonds, including the premium for the municipal bond insurance policy. The Series 2004 Project, known as Cathedral Gardens, consisted of the acquisition by Barnard College of five condominium units to be used primarily to provide residential space for 91 students and 26 faculty apartments. The five condominium units, together with related rights comprise approximately 66,000 square feet in a building located near the corner of 110th Street and Manhattan Avenue.</Explanation>
      </Form990ScheduleKPartVI>
      <Form990ScheduleKPartVI>
        <Identifier>SchK_P01_S00_L00b</Identifier>
        <ReturnReference>Schedule K, Part I, Column b</ReturnReference>
        <Explanation>The Series 2007A Bonds were issued (i) to refund the outstanding portion of the Dormitory Authority's Barnard College Insured Revenue Bonds, Series 1996 (the "Series 1996") maturing on and after July 1, 2008, (ii) to pay for the Costs of the Series 2007 Project (as defined hereinafter), (iii) to pay a portion of the interest on the Series 2007A Bonds and (iv) to pay the Costs of Issuance of the Series 2007A Bonds, including a portion of the premium for the municipal new issue bond insurance policy. The Series 2007 Project consisted of the demolition of an existing facility and construction of a new, approximately 100,000 gross square foot multi-purpose facility to be located at 3023 Broadway, to include a theatre with seating for approximately 100, special event space for seating for approximately 500, a central reading room, computer technology center, student services offices, club space, student union, classrooms, food services venues and academic departments; and (ii) campus-wide renovation and maintenance projects at various buildings. As noted above, a portion of the Series 2007A Bonds were used to refund the Series 1996 Bonds the proceeds of which were used to (A) refund the College's loans under the Dormitory Authority's College and University Variable/Fixed Rate Insured Revenue Bonds (1985 Pooled Capital Program), the proceeds of which were used to finance the construction of Sulzberger Hall, and (B) to repair, renovate and upgrade various buildings at Barnard College.</Explanation>
      </Form990ScheduleKPartVI>
      <Form990ScheduleKPartVI>
        <Identifier>SchK_P01_S00_L00c</Identifier>
        <ReturnReference>Schedule K, Part I, Column c</ReturnReference>
        <Explanation>The Series 2008 Bonds were issued for the purpose of providing funds, which together with other available monies, will be used (i) to refund and defease the outstanding Dormitory Authority's Barnard College Insured Revenue Bonds, Series 2007B (the "Series 2007B") and (ii) to pay the Costs of Issuance of the Series 2008 Bonds. The proceeds of the Series 2007B were used to finance a portion of the cost (i) of the "Nexus" project consisting of the demolition of an existing facility and construction of a new, approximately 100,000 gross square foot multi-purpose facility to be located at 3023 Broadway, to include a theatre with seating for approximately 100, special event space for seating for approximately 500, a central reading room, computer technology center, student services offices, club space, student union, classrooms, food services venues and academic departments; and (ii) campus-wide renovation and maintenance projects at various buildings..</Explanation>
      </Form990ScheduleKPartVI>
      <Form990ScheduleKPartVI>
        <Identifier>SchK_P03_S00_L02</Identifier>
        <ReturnReference>Schedule K, Part III, Line 2</ReturnReference>
        <Explanation>The College has carefully managed the type of activities indicated in bond financed facilities and as such has reported 0% private business use for all issues on schedule K.</Explanation>
      </Form990ScheduleKPartVI>
    </IRS990ScheduleK>
    <IRS990ScheduleM documentId="R000011" softwareId="12000197" softwareVersion="v1.00">
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>95</NumberOfContributions>
        <NoncashContribsRptdF990>1061594</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>Mean Mkt Price</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <AnyPropertyThatMustBeHeld>0</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>1</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>1</ThirdPartiesUsed>
      <Form990ScheduleMPartII>
        <Identifier>SchM_P01_S00_L32b</Identifier>
        <ReturnReference>Schedule M, Part I, Line 32b</ReturnReference>
        <Explanation>All gifts of publicly traded securities are remitted to the College's Custodians, JP Morgan Chase or State Street Bank, depending on the nature of the gift. Both custodians, with the authority from Barnard College, sell the publicly traded securities upon receipt. The number of contributions listed in column b for part I represents the actual number of contributions as opposed to the number of items received.</Explanation>
      </Form990ScheduleMPartII>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="R000012" softwareId="12000197" softwareVersion="v1.00">
      <GeneralExplanation>
        <Identifier>F990_P03_S00_L01</Identifier>
        <ReturnReference>Form 990, Part III, Line 1</ReturnReference>
        <Explanation>Barnard College aims to provide the highest quality liberal arts education to promising and high-achieving young women, offering the unparalleled advantages of an outstanding residential college in partnership with a major research university. With a dedicated faculty of scholars distinguished in their respective fields, Barnard is a community of accessible teachers and engaged students who participate together in intellectual risk-taking and discovery. Barnard students develop the intellectual resources to take advantage of opportunities as new fields, new ideas, and new technologies emerge. They graduate prepared to lead lives that are professionally satisfying and successful, personally fulfilling, and enriched by love of learning. As a college for women, Barnard embraces its responsibility to address issues of gender in all of their complexity and urgency, and to help students achieve the personal strength that will enable them to meet the challenges they will encounter throughout their lives. Located in the cosmopolitan urban environment of New York City, and committed to diversity in its student body, faculty and staff, Barnard prepares its graduates to flourish in different cultural surroundings in an increasingly inter-connected world. The Barnard community thrives on high expectations. By setting rigorous academic standards and giving students the support they need to meet those standards, Barnard enables them to discover their own capabilities living and learning in this unique environment, Barnard students become agile, resilient, responsible, and creative, prepared to lead and serve their society.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>F990_P05_S00_L03b</Identifier>
        <ReturnReference>Form 990, Part V, Line 3b</ReturnReference>
        <Explanation>The Form 990-T for the tax year beginning July 1, 2012 and ending June 30, 2013 was granted an extension of time to file and will be filed by the College by May 15, 2014.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>F990_P06_S0B_L11b</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 11b</ReturnReference>
        <Explanation>The Form 990 is reviewed by the Associate Vice President for Finance, the Chief Operating Officer, The President and the Committee on Audits and Compliance.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>F990_P06_S0B_L12c</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 12c</ReturnReference>
        <Explanation>The conflict of interest policy and disclosure statements are distributed annually to each Trustee, Director and Key Employee who shall read the policy, disclosure statements and sign the certification agreeing to be bound by the policy and return the disclosure statements to the College's General Counsel for review.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>F990_P06_S0B_L15</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 15</ReturnReference>
        <Explanation>The Compensation Committee of Barnard College's Board of Trustees is responsible for determining and approving the compensation of the College's President (CEO) and other top management officials including the: Chief Operating Officer, Dean of the College, Provost, Vice President for Development, and Vice President for Communications. The Compensation Committee is provided with comparable data from the higher education industry and uses that data to determine the compensation levels on an annual basis.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>F990_P06_S0C_L19</Identifier>
        <ReturnReference>Form 990, Part VI, Section C, Line 19</ReturnReference>
        <Explanation>The College discloses its audited financial statements and its conflict of interest policies on its website.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>