Swarthmore College
- Assets
- $3.6b
- Revenue
- $364.5m
- Investments
- $2.0b
- Employees
- 2,481
- 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 06/2022, Swarthmore College employed 2,481 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 represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $225.0m during the year ending 06/2021. While expenses have increased by 2.6% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 2021-22 WAS 1,689. THERE WERE 75 STUDENTS STUDYING ABROAD. OF THE TOTAL STUDENT POPULATION, 1,431 COME FROM ACROSS THE UNITED STATES WHILE 258 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 52 PERCENT OF STUDENTS RECEIVED NEED-BASED SWARTHMORE SCHOLARSHIP AID FROM AN OVERALL FINANCIAL AID EXPENDITURES OF $47 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 | $757,605 |
Gregory N Brown Until 122 VP Fin & Admin & Treasurer | Officer | 40 | $393,950 |
Sarah Willie-Lebreton Provost & Dean Of The Faculty | Officer | 40 | $288,611 |
Allen Schneider Professor | 40 | $396,480 | |
Mark C Amstutz Chief Investment Officer | Officer | 40 | $357,262 |
David E Ramirez Professor | 40 | $348,931 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lf Driscoll Company Llc Building Services | 6/29/22 | $5,458,603 |
Target Building Construction Inc Building Services | 6/29/22 | $4,892,994 |
Warfel Construction Building Services | 6/29/22 | $15,569,841 |
Skanska Usa Building Inc Building Services | 6/29/22 | $5,062,915 |
Goody Clancy Associates Inc Architectual Service | 6/29/22 | $2,002,521 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,451,000 |
| 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 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 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 | $0 |
| 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 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $3,191,959,000 |