The Finance and Investment Offices oversee the financial responsibilities of the College which include the budget, financial planning, endowment and debt management, and stewardship of financial resources.
In fiscal year 2022—2023, total operating expenditures were $212.9 million. As of June 30, 2023, the endowment's market value was $2.7 billion.
Endowment Objective
The endowment objective is to provide a sustainable level of income distribution in support of the College's annual operating budget while preserving the real purchasing power of the endowment before gifts.
Spending Policy
The distribution from the endowment is the largest source of revenue for the College budget. Over the long-term endowment spending, as a percent of the endowment market value (i.e. spending rate), is targeted to average within the range of 3.5% to 5.0%.
Debt Management
The College utilizes tax-exempt debt as an economically attractive way to finance capital projects. As of June 30, 2023, the College had $360.1 million in debt outstanding issued through the Swarthmore Borough Authority. Swarthmore's debt is Aaa rated by Moody's and AAA by Standard & Poor's.
Operating Budget
- 2023-24 Operating Budget and Summary
- 2022-23 Operating Budget and Summary
- 2021-22 Operating Budget and Summary
- 2020-2021 Operating Budget and Memo [PDF]
- 2019-2020 Operating Budget [PDF]
- 2018-2019 Operating Budget [PDF]
Reports
- Audited Financial Reports and IRS Form 990
- Swarthmore College Endowment Report [PDF]
- Swarthmore Fact Book [PDF]
