2011-05-09T15:09:10-04:00 2010-06-30 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1700 PHILADELPHIA PA 19103 990 2009-07-01 231352683 SWARTHMORE COLLEGE SWAR 6103288676 500 COLLEGE AVENUE SWARTHMORE PA 190811306 SUZANNE P WELSH 2011-05-09 true 2673303000 2009 2016-02-24 21:20:13Z SUZANNE P WELSH 500 COLLEGE AVENUE SWARTHMORE PA 19081 834056376 false X www.swarthmore.edu X 1864 PA SEE ATTACHMENT 2 36 35 2533 1369 -40666 -564055 17312000 13836000 69583000 73275000 10021952 45549095 6868731 6869358 103785683 139529453 21826000 24347000 0 0 70133217 69305128 0 0 4102193 55714146 52888522 147673363 146540650 -43887680 -7011197 1494724000 1609116000 234266000 227839000 1260458000 1381277000 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 TO BOTH 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 THE RECOGNITION OF THE FACT THAT STUDENTS LEARN BOTH INSIDE AND OUTSIDE THE CLASSROOM. false false 113862640 24347000 73275000 Swarthmore is a co-educational College of Liberal Arts and Engineering. The average enrollment for fiscal year 2009-10 was 1,525 (83 of which were studying abroad). Of the total student population, 1,425 come from across the United States while 100 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 50% of the student body received financial aid from the College in fiscal year ending June 30, 2010. 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. 113862640 true true false false false false true false true true true false true true true false false false false false false false true true true false false false false false true false true true false true true false false false true true false false true 2179 0 true 2533 true true true true FR false false false false true 1 false false 36 35 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 REBECCA S CHOPP 60.0 X X 248278 0 82474 BARBARA W MATHER 6.0 X 0 0 0 ERIC S ADLER 2.0 X 0 0 0 JORGE AGUILAR 2.0 X 0 0 0 RICHARD A BARASCH 4.0 X 0 0 0 DULANY OGDEN BENNETT 4.0 X 0 0 0 JANET SMITH DICKERSON 2.0 X 0 0 0 DAVID GELBER 4.0 X 0 0 0 NEIL R GRABOIS 4.0 X 0 0 0 SAMUEL L HAYES III 2.0 X 0 0 0 JAMES C HORMEL 2.0 X 0 0 0 HAROLD KALKSTEIN 2.0 X 0 0 0 GILES K KEMP 4.0 X 0 0 0 JACOB J KRICH 2.0 X 0 0 0 FREDERICK W KYLE 2.0 X 0 0 0 JANE LANG 2.0 X 0 0 0 BENNETT LORBER 4.0 X 0 0 0 SABRINA MARTINEZ 2.0 X 0 0 0 JORGE MUNOZ 2.0 X 0 0 0 CHRISTOPHER M NIEMCZEWSKI 4.0 X 0 0 0 SIBELLA CLARK PEDDER 2.0 X 0 0 0 JOHN A RIGGS 4.0 X 0 0 0 CATHERINE RIVLIN 2.0 X 0 0 0 CARL RUSSO 2.0 X 0 0 0 ELIZABETH H SCHEUER 2.0 X 0 0 0 ROBIN M SHAPIRO 2.0 X 0 0 0 SALEM SHUCHMAN 2.0 X 0 0 0 DAVID W SINGLETON 4.0 X 0 0 0 MARTHA SPANNINGER 2.0 X 0 0 0 THOMAS E SPOCK 4.0 X 0 0 0 DANIELLE TOALTOAN 2.0 X 0 0 0 JOSEPH L TURNER 2.0 X 0 0 0 SUSAN B LEVINE 4.0 X 0 0 0 EUGENE M LANG 2.0 X 0 0 0 JEROME KOHLBERG 2.0 X 0 0 0 ELIZABETH J MCCORMACK 2.0 X 0 0 0 MARGE PEARLMAN SCHEUER 2.0 X 0 0 0 J LAWRENCE SHANE 2.0 X 0 0 0 JULIE LANGE HALL 2.0 X 0 0 0 JENNY HOURIHAN BAILIN 2.0 X 0 0 0 RHONDA RESNICK COHEN 2.0 X 0 0 0 LEWIS H LAZARUS 2.0 X 0 0 0 TRACEY E PATILLO 2.0 X 0 0 0 GUSTAVO SCHWED 2.0 X 0 0 0 SUZANNE P WELSH 60.0 X 285116 0 49200 CONSTANCE C HUNGERFORD 60.0 X 246567 0 78435 MAURICE G ELDRIDGE 60.0 X 216612 0 67145 MELANIE E YOUNG 60.0 X 165935 0 34145 STEPHEN D BAYER 60.0 X 210797 0 45455 MARK C AMSTUTZ 60.0 X 199856 0 50124 C STUART HAIN 60.0 X 185684 0 30983 JAMES L BOCK III 60.0 X 179422 0 41485 LORI ANN JOHNSON 40.0 X 99973 0 17989 GARIKAI CAMPBELL 60.0 X 107315 0 32629 ROBINSON G HOLLISTER 40.0 X 200657 0 41035 FREDERICK L ORTHLEIB 40.0 X 385931 0 22651 MARION J FABER 40.0 X 335911 0 26499 ALLEN SCHNEIDER 40.0 X 177115 0 40384 PETER J COLLINGS 40.0 X 188018 0 35152 ALFRED H BLOOM 0.0 X 1675632 0 80661 DAVID W FRASER 0.0 X 124883 0 8432 JAMES A LARIMORE 0.0 X 116146 0 48293 5349848 0 833171 122 true true false CAMBRIDGE ASSOCIATES LLC PO BOX 10317 UNIONDALE NY 11555 INVESTMENT ADVISORS 998499 HAMILTON LANE ADVISORS LLC ONE BELMONT AVENUE SUITE 900 BALA CYNWYD PA 19004 INVESTMENT ADVISORS 762452 MARSHFIELD ASSOCIATES 21 DUPONT CIRCLE NW - SUITE 500 WASHINGTON DC 20036 INVESTMENT ADVISORS 168535 PRICEWATERHOUSECOOPERS LLP PO BOX 7247-8001 PHILADELPHIA PA 19170 ACCOUNTING 167760 DECHERT LLP PO BOX 7247-6643 PHILADELPHIA PA 19770 LEGAL 161743 9 1626000 12210000 2482519 13836000 TUITION & FEES 611600 57498000 57498000 ROOM & BOARD 611600 15777000 15777000 73275000 49094050 49094050 0 283280 283280 1311681 1116350 195331 195331 195331 690471376 693410573 -2939197 -605758 -3544955 -605758 -2939197 0 0 0 SUMMER PROGRAMS 713990 565092 565092 AUXILIARY SERVICES 900099 5825655 5825655 6390747 139529453 73275000 -40666 52459119 0 0 24347000 24347000 0 0 0 0 4283932 1657670 2626262 0 0 48374731 38223383 8359677 1791671 4536193 3427452 942563 166178 8394931 6048141 2103546 243244 3715341 2820867 769372 125102 0 0 0 0 147815 0 147815 0 167600 0 167600 0 0 0 0 0 0 0 4408000 0 4408000 0 3055053 1750959 967767 336327 955248 220191 652947 82110 4883809 3690081 1080101 113627 880344 601798 236933 41613 0 0 0 0 2489370 1868030 497072 124268 2111026 1562214 428437 120375 0 0 0 0 1358014 957395 337936 62683 7971880 5978910 1594376 398594 0 0 0 0 6984492 5238369 1396898 349225 714556 714556 0 0 FOREIGN STUDIES 3006756 3006756 0 0 ANNUITY PAYMENTS 2188098 1885586 302512 0 BOOKSTORE RELATED 768770 768770 0 0 EQUIP PURCH, RENTAL, & MAINT 3677777 2644557 961289 71931 OTHER 7119914 6449955 594714 75245 146540650 113862640 28575817 4102193 19225000 25507000 24392000 20593000 2583000 2029000 774128 752043 17716872 16953957 542851 557218 4666149 4797782 333502000 98287000 237715000 235215000 579327000 616854000 607771000 685764000 11000 93000 1494724000 1609116000 16847000 14878000 1708000 1856000 179903000 176117000 885000 874000 34923000 34114000 234266000 227839000 X 494884000 546586000 591630000 657744000 173944000 176947000 1260458000 1381277000 1494724000 1609116000 X true true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 4466000 0 4466000 X X X false 1128675000 1746000 169566000 10704000 35621000 4408000 1249254000 1412609000 12283000 -234040000 12544000 44593000 5040000 1128675000 0.37000 0.58000 0.05000 false false 4927000 4927000 275967000 62717000 213250000 17531000 15850000 1681000 30611000 19720000 10891000 4466000 4466000 235215000 FIXED INCOME 31540000 F PUBLIC EQUITY 116382000 F REAL ASSETS 72725000 F PRIVATE EQUITY 272629000 F MARKETABLE ALTERNATIVES 190516000 F OTHER 1972000 F 685764000 0 DEFERRED PAYMENTS 34114000 34114000 139529453 146540650 -7011197 128285197 -455000 127830197 120819000 239721000 128285197 128285197 111435803 4408000 23685650 28093650 139529453 118902000 118902000 4408000 23230650 27638650 146540650 SCHEDULE D EXPLANATIONS PART XI, LINE 8: LINE 8, OTHER: THIS FIGURE REPRESENTS THE "CHANGE IN PRESENT VALUE OF LIFE INCOME FUNDS" FOR THE FISCAL YEAR: 318,000 LINE 8, OTHER: THIS FIGURE REPRESENTS THE "CHANGE IN OTHER POST RETIREMENT BENEFITS" FOR THE FISCAL YEAR: (773,000) PART II, ITEM 4: THE COLLEGE MAINTAINS A SMALL PERMANENT COLLECTION OF ART THAT IS USED IN TEACHING (E.G., COURSES IN STUDIO ART & ART HISTORY) & PROVIDES STUDENTS WITH RESEARCH OPPORTUNITIES. PART XII LINE 4B: LINE 4B, OTHER: THIS FIGURE REPRESENTS THE FOLLOWING: COSTS OF RENTAL HOUSING (1,116,350) CHANGE IN PRESENT VALUE OF LIFE INCOME FUND 455,000 STUDENT AID 24,347,000 ============ 23,685,650 PART XIII, LINE 4B LINE 4B, OTHER: THIS FIGURE REPRESENTS THE FOLLOWING: COST OF RENTAL HOUSING (1,116,350) STUDENT AID 24,347,000 =========== 23,230,650 true true true SWARTHMORE COLLEGE'S RACIALLY NON-DISCRIMINATORY POLICY IS INCLUDED IN ALL PRINTED AND BROADCAST ADVERTISING, AS WELL AS IN THE COLLEGE CATALOGS. SUCH POLICY IS ALSO PRINTED IN VARIOUS LOCATIONS THROUGHOUT THE CAMPUS. true true true true false false false false false false false false true false SWARTHMORE COLLEGE PARTICIPATES IN FIVE FEDERAL STUDENT FINANCIAL AID PROGRAMS: FEDERAL PELL, FSEOG, FEDERAL WORK STUDY, FEDERAL PERKINS LOA STAFFORD LOAN PROGRAMS. THE COLLEGE ALSO PARTICIPATES IN THE PENNSYLVA 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. true false Central America and the Caribbean 0 0 Program Services STUDY ABROAD 14325 East Asia and the Pacific 0 0 Program Services STUDY ABROAD 41425 Europe (Including Iceland and Greenland) 0 1 Program Services STUDY ABROAD 1029413 Middle East and North Africa 0 0 Program Services STUDY ABROAD 160224 North America 0 0 Program Services STUDY ABROAD 12009 South America 0 0 Program Services STUDY ABROAD 214234 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 44824 0 1 1516454 true SWARTHMORE COLLEGE FUNDS/SCHOLARSHIPS 762 24347000 N/A N/A SCHEDULE I EXPLANATION PART III ALL SWARTHMORE COLLEGE SCHOLARSHIPS ARE DISBURSED/POSTED ELECTRONICALLY (AND INTERNALLY) DIRECTLY TO THE STUDENTS ACCOUNT. FURTHERMORE, STUDENTS WHO RECEIVED SAID AID 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 248278 0 0 0 0 0 28490 0 53984 0 330752 0 0 0 SUZANNE P WELSH 285116 0 0 0 0 0 0 0 49200 0 334316 0 0 0 CONSTANCE C HUNGERFORD 246567 0 0 0 0 0 35204 0 43231 0 325002 0 0 0 MAURICE G ELDRIDGE 216612 0 0 0 0 0 22013 0 45132 0 283757 0 0 0 MELANIE E YOUNG 165935 0 0 0 0 0 0 0 34145 0 200080 0 0 0 STEPHEN D BAYER 210797 0 0 0 0 0 0 0 45455 0 256252 0 0 0 MARK C AMSTUTZ 199856 0 0 0 0 0 0 0 50124 0 249980 0 0 0 C STUART HAIN 185684 0 0 0 0 0 0 0 30983 0 216667 0 0 0 JAMES L BOCK III 179422 0 0 0 0 0 0 0 41485 0 220907 0 0 0 ALFRED H BLOOM 364745 0 0 0 1310887 0 0 0 80661 0 1756293 0 415308 0 DAVID W FRASER 124883 0 0 0 0 0 0 0 8432 0 133315 0 0 0 JAMES A LARIMORE 116146 0 0 0 0 0 0 0 48293 0 164439 0 0 0 ROBINSON G HOLLISTER 200657 0 0 0 0 0 0 0 41035 0 241692 0 0 0 FREDERICK L ORTHLEIB 52292 0 0 0 333639 0 0 0 22651 0 408582 0 0 0 MARION J FABER 69456 0 0 0 266455 0 0 0 26499 0 362410 0 0 0 ALLEN SCHNEIDER 177115 0 0 0 0 0 0 0 40384 0 217499 0 0 0 PETER J COLLINGS 188018 0 0 0 0 0 0 0 35152 0 223170 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 and the Dean of Students 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 two New York University clubs to be used primarily for business purposes (entertainment / travel). Additional Information for Part II of Schedule J 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 (SIX MONTHS OF 2009). SEE "RESIDENCE REQUIREMENT" ABOVE. ALFRED H. BLOOM - OTHER COMPENSATION FIGURE IS A RESULT OF THE PAYMENT OF ACCRUED LEAVE COMPENSATION AND BENEFITS. ALFRED H. BLOOM - NON-TAXABLE BENEFITS FIGURE INCLUDES A HOUSING ALLOWANCE (SIX MONTHS OF 2009). SEE "RESIDENCE REQUIREMENT" ABOVE. CONSTANCE C. HUNGERFORD - DEFERRED COMPENSATION FIGURE IS A RESULT OF ACCRUED LEAVE COMPENSATION AND BENEFITS. MAURICE G. ELDRIDGE - DEFERRED COMPENSATION FIGURE IS A RESULT OF ACCRUED LEAVE COMPENSATION AND BENEFITS. FREDERICK L. ORTHLIEB - OTHER REPORTABLE COMPENSATION FIGURE WAS AN EARLY RETIREMENT PAYMENT. MARION J. FABER - OTHER REPORTABLE COMPENSATION FIGURE WAS AN EARLY RETIREMENT PAYMENT. SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000FJ0 2006-12-20 79638446 SEE SCHEDULE O false false SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000GH3 2008-04-30 27925671 SEE SCHEDULE O false false SWARTHMORE COLLEGE BOROUGH AUTHORITY 232243929 870000GJ9 2009-07-29 9453814 SEE SCHEDULE O false false 78986000 656894 false true true true 26999000 325671 true false true true 9280000 189076 true false true true false false false false false 0.01350 0.01350 true false false false false false true false false false false false true false false false false false true JAMES L BOCK III MORTGAGE X 340000 281699 false true true MAURICE G ELDRIDGE MORTGAGE X 197022 129930 false true true MELANIE E YOUNG MORTGAGE X 350000 340414 false true true 752043 MARSHFIELD ASSOCIATES SEE SCHEDULE O 168535 INVESTMENT MANAGEMENT FEES false HANS OBERDIEK SEE SCHEDULE O 101575 FACULTY MEMBER false X 10500 INDEPEN. APPRAISAL X 110 2448519 FAIR MARKET VALUE X STEINWAY PIANO 1 23500 INDEPEN. APPRAISAL 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 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 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 IT CONFLICT OF INTEREST POLICY AVAILABLE VIA THE COLLEGE'S WEBSITE. THE COLLEGE MAKES IT FINANCIAL STATEMENTS AVAILABLE VIA THE COLLEGE'S WEBSITE. SCHEDULE K, COLUMN (F) - DESCRIPTION OF PURPOSE FOR TAX-EXEMPT 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 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 issues 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. SCHEDULE K, PART II, LINE 8 - "YEAR OF SUBSTANTIAL COMPLETION" Each of these bonds solely refunded prior issues so that year of substantial completion has not been entered. SCHEDULE L, PART IV - BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: MARSHFIELD ASSOCIATES - OWNERSHIP INTEREST BY BOARD MEMBER CHRISTOPHER M. NIEMCZEWSKI & FAMILY. HANS OBERDIEK - MEMBER OF FACULTY & SPOUSE OF OFFICER CONSTANCE C. HUNGERFORD. MARJAY PRODUCTIONS INC 1606 SAN ANTONIO STREET AUSTIN TX 78701 131952572 LITERARY WORK DE NA C CORP 94364 65946 1.00000 true false false false false false false false false false false false false false false false false false MARJAY PRODUCTIONS INC ROYAL 50000