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Swarthmore College Bulletin (December 2006) - ITS

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parlor talkGiving seems to be on everyone's mind at this time of year. In church lastSunday, we were asked to make a special contribution to UNICEF. Ourminister spoke briefly about the many good works of this internationalorganization and urged us to put an extra check in the offering plate—or, he said,“You can just forget about the IRS and drop in a crisp $100 bill.” For some reason,he always tries to elicit a chuckle from the congregation at offering time—but theneed itself is real.In November, The New York Times published a 42-page special section on philanthropy,covering everything from Katrina relief to new models for attacking poverty.It reported that, according to the Council for Aid to Education, colleges and universitiesreceived more than $25 billion in private philanthropy during fiscal 2005.Stanford University led the way with $604 million—part of a $4.3 billion campaigngoal announced in October.Swarthmore is now concluding a successful campaign with a much more modestgoal of $230 million. The Meaning of Swarthmore has already had an enormousimpact on the College's ability to continueto educate the extraordinary kindsthe meaning ofofAs a fund-raisingcampaign, The Meaningof Swarthmore is over.But Swarthmore willcontinue to have meaningin the lives of studentsand alumni—and increating a better world.people who are often featured in thismagazine. By the campaign's conclusionon Dec. 31, the total amount raised willbe well over $240 million—more than$30 million of which has come fromcontributions to the Annual Fund.On campus, everyone knows that anew campaign for an even largeramount is just over the horizon, butwhy? After you have read the news, features,and Class Notes in this issue, Iurge you to study the report attached topage 9. In this succinct annual statementof the College's financial position,Vice President for Finance and Treasurer Suzanne Welsh shows that, net of financialaid, revenues from student charges provide just 36 percent of the College's totalincome. In recent years, the College's endowment has begun to provide a greaterproportion of total revenue than tuition, fees, room, and board—up to 43 percent infiscal 2006.Another fact: In the same year, again excluding financial aid, the College spent$73,691 to educate one student. With student charges at $41,280 and half of all studentsreceiving College scholarships (the average grant was $22,681), it is clear thatSwarthmore's $1.3 billion endowment is the foundation of its excellence. And wheredid this significant sum come from? Philanthropy has been its constant source, andcareful management over many years has led both to its growth and its continuingability to provide the highest quality education today and into the future. (Readmore about the endowment, investment strategy, and spending policy in Vice PresidentWelsh's report.)As a fund-raising campaign, The Meaning of Swarthmore is over. But Swarthmorewill continue to have meaning in the lives of students and alumni; in leadingAmerican liberal arts education; and—in ways large and small—in creating a betterworld. And without a doubt, it will also continue to pass the collection plate.—Jeffrey Lott2:swarthmore college bulletinswarthmoreSwarthmoreC O L L E G E B U L L E T I NEditor: Jeffrey LottAssociate Editor: Carol Brévart-DemmClass Notes Editor: Susan Cousins BreenStaff Photographer: Eleftherios KostansDesktop Publishing: Audree PennerArt Director: Suzanne DeMott Gaadt,Gaadt Perspectives LLCAdministrative Assistant:Janice Merrill-RossiInterns: Lauren Stokes ’09,Lena Wong ’10Editor Emerita:Maralyn Orbison Gillespie ’49Contacting Swarthmore CollegeCollege Operator: (610) 328-8000www.swarthmore.eduAdmissions: (610) 328-8300admissions@swarthmore.eduAlumni Relations: (610) 328-8402alumni@swarthmore.eduPublications: (610) 328-8568bulletin@swarthmore.eduRegistrar: (610) 328-8297registrar@swarthmore.eduWorld Wide Webwww.swarthmore.eduChanges of AddressSend address label alongwith new address to:Alumni Records OfficeSwarthmore College500 College AvenueSwarthmore PA 19081-1390Phone: (610) 328-8435. Or e-mail:alumnirecords@swarthmore.edu.The Swarthmore College Bulletin (ISSN0888-2126), of which this is volume CIV,number 4, is published in August, September,December, March, and June,with a special issue in September, bySwarthmore College, 500 College Avenue,Swarthmore PA 19081-1390. Periodicalspostage paid at Swarthmore PA andadditional mailing offices. Permit No.0530-620. Postmaster: Send addresschanges to Swarthmore College Bulletin,500 College Avenue, Swarthmore PA19081-1390. © 2006 Swarthmore CollegePrinted in U.S.A.

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