Swarthmore College
- Assets
- $3.6b
- Revenue
- $364.5m
- Investments
- $2.0b
- Employees
- 2,445
- Location
- Swarthmore, PA
- Founding
- 03/1950
- Data as of
- 06/2021
- EIN
- 23-1352683
Organization Overview
Swarthmore College is located in Swarthmore, PA. The organization was established in 1950. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Swarthmore College employed 2,445 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swarthmore College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Swarthmore College generated $364.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $225.0m during the year ending 06/2021. While expenses have increased by 3.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
SWARTHMORE IS A CO-EDUCATIONAL COLLEGE OF LIBERAL ARTS AND ENGINEERING DEDICATED TO INTELLECTUAL EXPLORATION, ACCESS, AND EDUCATING FOR THE COMMON GOOD. THE AVERAGE ENROLLMENT FOR FISCAL YEAR 2020-21 WAS 1,439. THERE WERE 2 STUDENTS STUDYING ABROAD. OF THE TOTAL STUDENT POPULATION, 1,232 COME FROM ACROSS THE UNITED STATES WHILE 207 COME FROM OTHER NATIONS. SWARTHMORE'S COMMITMENT TO FINANCIAL AID AND ACCESS IS AT THE CORE OF OUR EDUCATIONAL MISSION. THE COLLEGE STRIVES TO MAKE IT POSSIBLE FOR ALL ADMITTED STUDENTS TO ATTEND SWARTHMORE, REGARDLESS OF THEIR ABILITY TO PAY, AND MEETS 100 PERCENT OF DETERMINED NEED FOR ALL ADMITTED STUDENTS. NEARLY 56 PERCENT OF THE STUDENTS RECEIVED NEED-BASED SWARTHMORE SCHOLARSHIP AID FROM AN OVERALL FINANCIAL AID BUDGET OF $40 MILLION. SWARTHMORE'S AID AWARDS CONSIST OF GRANTS (WHICH DO NOT NEED TO BE REPAID) AND THE EXPECTATION THAT STUDENTS WILL WORK IN A PART-TIME CAMPUS-BASED JOB. THE COLLEGE'S FINANCIAL AID AWARDS ARE LOAN-FREE. SWARTHMORE'S 425-ACRE ARBORETUM CAMPUS INCLUDES THE CRUM WOODS, A NATURALLY WOODED AREA COMPRISING NEARLY THREE-FIFTHS OF THE COLLEGE'S LAND. IN 2015, THE COLLEGE LAUNCHED ITS ENVIRONMENTAL SUSTAINABILITY FRAMEWORK, A SET OF GUIDELINES FOR CAPITAL PROJECTS AND FACILITIES OPERATIONS THAT INCLUDES SUSTAINABLE BUILDING GUIDELINES AND A PROJECT CHECKLIST. THE FOLLOWING YEAR, THE COLLEGE INSTITUTED A CARBON CHARGE THAT PROVIDES FUNDING FOR CAMPUS INITIATIVES AND PROJECTS THAT INCREASE ENERGY CONSERVATION AND EFFICIENCY AND PROMOTE RENEWABLE ENERGY. SWARTHMORE WAS HONORED TO RECEIVE A 2017 SUSTAINABLE CAMPUS EXCELLENCE AWARD IN THE INNOVATIVE COLLABORATION CATEGORY FROM THE INTERNATIONAL SUSTAINABLE CAMPUS NETWORK FOR OUR CARBON CHARGE PROGRAM. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valerie Smith Pres./ex Officio Board Member | OfficerTrustee | 40 | $558,091 |
Richard T Eldridge Professor | 40 | $420,142 | |
Brian A Meunier Professor | 40 | $418,919 | |
Sara Marie Hiebert Burch Professor | 40 | $390,432 | |
Gregory N Brown VP Fin & Admin & Treasurer | Officer | 40 | $375,392 |
Mark C Amstutz Chief Investment Officer | Officer | 40 | $332,450 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Skanska Usa Building Inc Building Services | 6/29/21 | $14,486,894 |
Lf Driscoll Company Llc Building Services | 6/29/21 | $6,113,070 |
Warfel Construction Building Services | 6/29/21 | $2,562,089 |
Target Building Construction Inc Building Services | 6/29/21 | $1,073,740 |
Dlr Group Inc Architectual Service | 6/29/21 | $2,415,466 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,045,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,406,000 |
| Noncash contributions included in lines 1a–1f | $4,841,257 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,451,000 |
| Total Program Service Revenue | $88,743,000 |
| Investment income | $103,595,877 |
| Tax Exempt Bond Proceeds | $6,422 |
| Royalties | $51,930 |
| Net Rental Income | $335,841 |
| Net Gain/Loss on Asset Sales | $140,999,016 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $364,464,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $33,509,013 |
| Grants and other assistance to Foreign Orgs/Individuals | $6,253,987 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,714,693 |
| Compensation of current officers, directors, key employees. | $3,320,530 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,143,066 |
| Pension plan accruals and contributions | $6,466,157 |
| Other employee benefits | $13,561,982 |
| Payroll taxes | $5,455,808 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $333,323 |
| Fees for services: Accounting | $307,723 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $78,023 |
| Fees for services: Investment Management | $7,873,000 |
| Fees for services: Other | $9,613,525 |
| Advertising and promotion | $294,381 |
| Office expenses | $8,200,109 |
| Information technology | $4,373,332 |
| Royalties | $0 |
| Occupancy | $2,414,160 |
| Travel | $410,117 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $782,949 |
| Interest | $9,204,056 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,581,206 |
| Insurance | $1,943,174 |
| All other expenses | $7,876,774 |
| Total functional expenses | $224,987,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,175,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $13,921,000 |
| Accounts receivable, net | $3,516,000 |
| Loans from Officers, Directors, or Controlling Persons | $194,218 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,605,782 |
| Inventories for sale or use | $342,599 |
| Prepaid expenses and deferred charges | $1,827,401 |
| Net Land, buildings, and equipment | $493,553,000 |
| Investments—publicly traded securities | $983,173,000 |
| Investments—other securities | $1,979,610,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,111,000 |
| Total assets | $3,573,029,000 |
| Accounts payable and accrued expenses | $28,381,000 |
| Grants payable | $0 |
| Deferred revenue | $2,019,000 |
| Tax-exempt bond liabilities | $305,925,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $44,745,000 |
| Total liabilities | $381,070,000 |
| Net assets without donor restrictions | $1,247,888,000 |
| Net assets with donor restrictions | $1,944,071,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,573,029,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Swarthmore College has recieved totaling $20,250.
| Awarding Organization | Amount |
|---|---|
Eugene And Marilyn Stein Family Foundation La Canada, CA PURPOSE: ANNUAL FUND | $10,000 |
Lamb-Baldwin Foundation Lake Oswego, OR PURPOSE: SUPPORT FOR WALTER LAMB ENDOWED SCHOLARSHIP FUND | $10,000 |
Mack Foundation Sherman, CT PURPOSE: COMMUNITY BASED PROGRAMS | $250 |
Endowment Analysis
| Beg. Balance | $2,103,670,000 |
| Earnings | $906,280,000 |
| Admin Expense | $7,873,000 |
| Net Contributions | $6,803,000 |
| Other Expense | $87,918,000 |
| Grants | $21,650,000 |
| Ending Balance | $2,899,312,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Saint Josephs University Philadelphia, PA | $901,366,941 | $347,052,680 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Oberlin College Oberlin, OH | $1,432,118,020 | $305,531,376 |
Skidmore College Saratoga Springs, NY | $987,033,808 | $268,742,242 |
Lafayette College Easton, PA | $1,381,563,896 | $228,460,340 |
Swarthmore College Swarthmore, PA | $3,573,029,000 | $364,464,007 |
Denison University Granville, OH | $1,502,847,785 | $275,909,448 |
Barnard College New York, NY | $934,956,587 | $267,817,606 |
Gettysburg College Gettysburg, PA | $570,755,194 | $196,773,554 |
Trustees Of Hamilton College Clinton, NY | $1,394,895,135 | $220,131,728 |