Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private
foundations)
MediumBullet Do not enter social security numbers on this form as it may be made public.
MediumBullet Information about Form 990 and its instructions is at www.IRS.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
A For the 2014 calendar year, or tax year beginning 07-01-2014 , and ending 06-30-2015
BCheck if applicable:
CName of organization
The Trustees of The Smith College
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
College Hall 204 10 Elm Street
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Northampton, MA01063
D Employer identification number

04-1843040
E Telephone number

G Gross receipts $ 923,411,997
F Name and address of principal officer:
Kathleen McCartney
College Hall 201 10 Elm St
Northampton,MA01063
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.SMITH.EDU
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1871
M State of legal domicile: MA
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: SEE SCHEDULE O
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 31
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 30
5 Total number of individuals employed in calendar year 2014 (Part V, line 2a) ...... 5 4,367
6 Total number of volunteers (estimate if necessary) ............. 6 5,637
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 4,629,578
b Net unrelated business taxable income from Form 990-T, line 34 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 38,894,729 72,518,796
9 Program service revenue (Part VIII, line 2g) ......... 168,747,246 172,898,254
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 68,754,454 129,352,345
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 7,073,250 7,655,286
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 283,469,679 382,424,681
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 66,107,101 68,639,931
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 124,529,492 129,564,589
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 59,345 166,624
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet7,687,952    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 90,719,218 95,554,955
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 281,415,156 293,926,099
19 Revenue less expenses. Subtract line 18 from line 12....... 2,054,523 88,498,582
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 2,374,680,859 2,455,868,302
21 Total liabilities (Part X, line 26)............. 281,558,491 281,836,314
22 Net assets or fund balances. Subtract line 21 from line 20..... 2,093,122,368 2,174,031,988
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name MediumBullet
Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2014)
Form 990 (2014)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III ..............
1
Briefly describe the organization’s mission: SMITH COLLEGE EDUCATES WOMEN OF PROMISE FOR LIVES OF DISTINCTION. A COLLEGE OF AND FOR THE WORLD, SMITH COLLEGE LINKS THE POWER OF THE LIBERAL ARTS TO EXCELLENCE IN RESEARCH AND SCHOLARSHIP, DEVELOPING LEADERS FOR SOCIETY'S CHALLENGES. SEE SCHEDULE O.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ......................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ............................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 223,395,148 including grants of $ 62,508,578 ) (Revenue $ 152,146,094 )
*UNDERGRADUATE EDUCATIONAL PROGRAMS* PLEASE SEE SCHEDULE O FOR DETAIL
4b (Code:   ) (Expenses $ 9,309,842 including grants of $ 2,151,163 ) (Revenue $ 7,719,263 )
*THE SCHOOL FOR SOCIAL WORK* PLEASE SEE SCHEDULE O FOR DETAIL
4c (Code:   ) (Expenses $ 4,020,927 including grants of $ 3,443,180 ) (Revenue $ 3,785,498 )
*GRADUATE EDUCATIONAL PROGRAM* PLEASE SEE SCHEDULE O FOR DETAIL
4d Other program services (Describe in Schedule O.)
(Expenses $ 24,882,916 including grants of $ 537,011 ) (Revenue $ 16,605,261 )
4e Total program service expensesMediumBullet261,608,833
Form 990 (2014)
Form 990 (2014)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment........................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? Click to see attachment...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part IIClick to see attachment........
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C,
Part IIIClick to see attachment............................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes," complete Schedule D, Part III Click to see attachment....................
8
Yes
 
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment..............
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If "Yes," complete Schedule D, Part VClick to see attachment......
10
Yes
 
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10?
If "Yes," complete Schedule D, Part VI.Click to see attachment...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment.........................
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If "Yes," complete Schedule D, Parts XI and XII Click to see attachment.................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule EClick to see attachment....
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States?.....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IVClick to see attachment
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... Click to see attachment
16
Yes
 
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I (see instructions) .... Click to see attachment
17
Yes
 
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III................... Click to see attachment
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
Form 990 (2014)
Form 990 (2014)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment
22
Yes
 
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a................ Click to see attachment
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
No
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
No
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I.... Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I................... Click to see attachment
25b
 
No
26
Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If "Yes," complete Schedule L, Part II................ Click to see attachment
26
Yes
 
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part III......... Click to see attachment
27
Yes
 
28
Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part IV .......................... Click to see attachment
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If "Yes,"
complete Schedule L, Part IV..................... Click to see attachment
28b
Yes
 
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If "Yes," complete Schedule L, Part IV... Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M............. Click to see attachment
30
Yes
 
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I........ Click to see attachment
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1........................ Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2... Click to see attachment
35b
Yes
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............
36
 
 
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2014)
Form 990 (2014)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V ..............
Yes
No
1a
Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable ..
1a
3,825
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
4,367
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?..........................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletFR , GM , IT , SZ
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?............................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?............................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds.
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?.........................
8
 
 
9a
Did the sponsoring organization make any taxable distributions under section 4966?...
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year. ....................
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
Form 990 (2014)
Form 990 (2014)
Page 6
Part VI
Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI ..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year .....................
1a
31
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent ...................
1b
30
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? ...........................
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done.......................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
Yes
 
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
Yes
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
MA
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBulletMichael W Howard
College Hall 204 10 Elm St
Northampton,MA01063 (413) 585-2200
Form 990 (2014)
Form 990 (2014)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII ..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) NEELUM AMIN........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(2) RACHAEL BARTELS........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(3) SANFORD BELDEN........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(4) DEBORAH BERGER........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(5) DAHNA BLACK........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(6) LINDA SMITH CHARLES........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(7) DEBORAH DUNCAN........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(8) PAULA FERRIS EINAUDI........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(9) MARGARET EISEN........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(10) ELIZABETH MUGAR EVEILLARD........................................................................
TRUSTEE/BOARD CHAIR
 5.0
.......................0.0 		X           0 0 0
(11) MADELEINE FACKLER........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(12) DEBORAH FARRINGTON........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(13) APRIL HOXIE FOLEY........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(14) NEIL GRABOIS........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(15) KATHLEEN BARNES GRANT........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(16) AUGUSTA GRONQUIST........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(17) ELIZABETH HOFFMAN........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
Form 990 (2014)
Form 990 (2014)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) HOON ENG KHOO........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(19) MARCIA MACHARG........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(20) BARBARA MASSEY........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(21) SUSAN GOODMAN NOVICK........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(22) ALISON OVERSETH........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(23) JUDITH PELHAM........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(24) LOIS PERELSON-GROSS........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(25) DEBRA Y ROMERO........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(26) LINDA E SALISBURY........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(27) NINA SCHERAGO........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(28) JAMES SHULMAN........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(29) SHARMILLA GHOSH SINHA........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(30) LOIS THOMPSON........................................................................
TRUSTEE
 5.0
.......................0.0 		X           0 0 0
(31) KATHLEEN MCCARTNEY........................................................................
PRESIDENT
 40.0
.......................0.0 		X   X       456,070 0 65,532
(32) RUTH CONSTANTINE........................................................................
VP FINANCE & ADMIN/TREASURER
 40.0
.......................0.0 		    X       314,411 0 39,685
(33) MICHAEL W HOWARD........................................................................
VP FINANCE & ADMIN
 40.0
.......................0.0 		    X       22,266 0 0
(34) REBECCA LINDSEY........................................................................
SECRETARY
 40.0
.......................0.0 		    X       101,385 0 34,146
(35) KATHERINE ROWE........................................................................
PROVOST & DEAN OF FACULTY
 40.0
.......................0.0 		    X       117,787 0 35,507
(36) LAURA SMIAROWSKI........................................................................
CONTROLLER
 40.0
.......................0.0 		    X       138,251 0 39,001
(37) LAURIE FENLASON........................................................................
VP PUBLIC AFFAIRS
 40.0
.......................0.0 		      X     253,908 0 53,654
(38) DAVID GREGORY........................................................................
VP INFORMATION TECH
 40.0
.......................0.0 		      X     199,982 0 34,429
(39) AUDREY YALE SMITH........................................................................
VP ENROLLMENT
 40.0
.......................0.0 		      X     182,303 0 70,078
(40) BETH B RAFFELD........................................................................
VP FOR DEVELOPMENT
 40.0
.......................0.0 		        X   345,085 0 33,397
(41) RANDALL K BARTLETT........................................................................
PROFESSOR
 40.0
.......................0.0 		        X   211,112 0 46,294
(42) JOHN H DAVIS........................................................................
PROFESSOR
 40.0
.......................0.0 		        X   201,414 0 39,485
(43) JOSEPH O'ROURKE........................................................................
ASSOCIATE PROVOST
 40.0
.......................0.0 		        X   249,818 0 52,664
(44) ANDREW ZIMBALIST........................................................................
PROFESSOR
 40.0
.......................0.0 		        X   224,302 0 53,931
(45) MARILYN SCHUSTER........................................................................
FORMER PROVOST
 40.0
.......................0.0 		          X 225,609 0 34,337
(46) CAROL T CHRIST........................................................................
PRESIDENT EMERITA
 40.0
.......................0.0 		          X 202,201 0 23,976
(47) MAUREEN MAHONEY........................................................................
FORMER VP CAMPUS LIFE
 40.0
.......................0.0 		          X 210,543 0 36,529
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 3,656,447 0 692,645
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet204
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
CONSIGLI CONSTRUCTION CO INC,
72 SUMNER STREET
MILFORD,MA01757 		PROJECT MANAGEMENT 1,937,274
FIVE COLLEGES INC,
97 SPRING STREET
AMHERST,MA010022324 		SHARED SERVICES 1,552,958
INVESTURE LLC,
126 GARRETT ST
CHARLOTTESVILLE,VA22902 		INVESTMENT MANAGER 4,121,170
AMHERST COLLEGE OFC OF THE COMPTRO,
PO BOX 2221
AMHERST,MA010022221 		PROPERTY MANAGEMENT 1,061,144
MOUNT HOLYOKE COLLEGE,
OFFICE OF THE CONTROLLER
SOUTH HADLEY,MA01075 		SECURITY SERVICES 1,626,139
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet64
Form 990 (2014)
Form 990 (2014)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII .............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512-514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e 5,405,443
f All other contributions, gifts, grants, and
similar amounts not included above1f 		67,113,353
g Noncash contributions included in lines
1a-1f:$ 		11,742,088
h Total. Add lines 1a-1f.......MediumBullet 72,518,796
Program Service RevenueAmt Business Code
2a Undergraduate 611600 152,146,094 152,146,094    
b School for Social Work 611600 7,719,263 7,719,263    
c Graduate 611600 3,785,498 3,785,498    
d Executive Education & Summer Programs 611600 4,505,112 4,018,065 487,047  
e Campus School & Ctr for Early Childhood 611600 4,671,570 4,671,570    
f All other program service revenue . 70,717 70,717    
g Total. Add lines 2a–2f........MediumBullet 172,898,254
OtherAmt RevenueAmt 3 Investment income (including dividends, interest, and other similar amounts).......MediumBullet 10,605,819   -1,341,996 11,947,815
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties...........MediumBullet 80,933 80,933    
(i) Real (ii) Personal
6a Gross rents 1,970,713 0
b Less: rental expenses 1,658,927 0
c Rental income or (loss) 311,786 0
d Net rental income or (loss).......MediumBullet 311,786 201,916 109,870  
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 654,121,210 3,066,165
b Less: cost or other basis and sales expenses 538,420,342 20,507
c Gain or (loss) 115,700,868 3,045,658
d Net gain or (loss)..........MediumBullet 118,746,526   5,187,103 113,559,423
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ..
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet 0    
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0      
10a Gross sales of inventory, less
returns and allowances .
a 889,611
b Less: cost of goods sold ..b 887,540
c Net income or (loss) from sales of inventory..MediumBullet 2,071 9,439 -7,368  
Miscellaneous Revenue Business Code
11a Dining Sercices, Cafe, Catering 721000 706,801 706,801    
b Departmental 611600 4,415,911 4,220,989 194,922  
c Indirects, Allowances 611600 681,150 681,150    
d All other revenue .... 1,456,634 1,456,634    
e Total. Add lines 11a–11d ...... MediumBullet 7,260,496
12 Total revenue. See Instructions......MediumBullet 382,424,681 179,769,069 4,629,578 125,507,238
Form 990 (2014)
Form 990 (2014)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX ...............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 100,768 100,768
2 Grants and other assistance to domestic individuals. See Part IV, line 22 .... 67,950,194 67,950,194
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............ 588,969 588,969
4 Benefits paid to or for members .... 0  
5 Compensation of current officers, directors, trustees, and key employees .... 2,400,706 53,495 2,222,741 124,470
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 39,963 39,963    
7 Other salaries and wages .... 96,422,083 71,575,060 20,605,026 4,241,997
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 8,687,670 6,501,486 1,772,712 413,472
9 Other employee benefits ....... 15,195,277 11,222,160 3,246,453 726,664
10 Payroll taxes ........... 6,818,890 5,060,352 1,433,598 324,940
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 391,370 41,946 349,424  
c Accounting ........... 247,988 34,638 213,350  
d Lobbying ........... 5,000     5,000
e Professional fundraising services. See Part IV, line 17 166,624 166,624
f Investment management fees ...... 4,664,826   4,664,826  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) .... 9,641,375 7,553,245 1,909,148 178,982
12 Advertising and promotion .... 789,857 612,365 133,811 43,681
13 Office expenses ....... 4,090,418 3,541,411 163,803 385,204
14 Information technology ...... 3,211,698 1,317,678 1,866,873 27,147
15 Royalties .. 0      
16 Occupancy ........... 22,300,490 2,089,527 20,208,146 2,817
17 Travel ............ 3,621,923 3,160,971 20,992 439,960
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 701,737 506,964 175,092 19,681
20 Interest ........... 5,869,830 5,343,881 525,949  
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 21,377,124 20,001,387 1,271,453 104,284
23 Insurance .............. 1,041,056 50,642 990,414  
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a HOME SCHOOL 5,758,729 5,758,729    
b ALLOC OF FACILITY/DINING   40,408,647 -40,454,821 46,174
c PROVISIONS 5,992,654 2,824,702 2,845,413 322,539
d OTHER 5,848,880 5,269,653 464,911 114,316
e All other expenses        
25 Total functional expenses. Add lines 1 through 24e 293,926,099 261,608,833 24,629,314 7,687,952
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2014)
Form 990 (2014)
Page 11
Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ............. 19,887,552 1 22,322,230
2 Savings and temporary cash investments ......... 42,994,791 2 42,942,396
3 Pledges and grants receivable, net ........... 23,500,235 3 39,499,708
4 Accounts receivable, net ............. 2,100,756 4 2,061,324
5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................
101,435 5 209,640
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
0 6 0
7 Notes and loans receivable, net ............. 2,645,629 7 2,680,253
8 Inventories for sale or use .............. 1,097,156 8 950,027
9 Prepaid expenses and deferred charges .......... 1,865,416 9 2,060,604
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 712,299,809
b Less: accumulated depreciation ..... 10b 291,879,070 415,127,412 10c 420,420,739
11 Investments—publicly traded securities .......... 85,526,336 11 110,108,186
12 Investments—other securities. See Part IV, line 11 ..... 1,774,341,585 12 1,806,822,688
13 Investments—program-related. See Part IV, line 11 ..... 4,475,855 13 4,274,109
14 Intangible assets ............... 0 14 0
15 Other assets. See Part IV, line 11 ........... 1,016,701 15 1,516,398
16 Total assets. Add lines 1 through 15 (must equal line 34)...... 2,374,680,859 16 2,455,868,302
Liabilities 17 Accounts payable and accrued expenses ......... 18,669,710 17 27,439,124
18 Grants payable ................. 0 18 0
19 Deferred revenue ................ 5,207,316 19 5,738,054
20 Tax-exempt bond liabilities ............. 159,711,188 20 156,758,131
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 34,237,362 21 34,657,863
22 Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L.......... 0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 0 23 0
24 Unsecured notes and loans payable to unrelated third parties .... 0 24 0
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.................... 63,732,915 25 57,243,142
26 Total liabilities. Add lines 17 through 25......... 281,558,491 26 281,836,314
Net Assets or Fund Balance Organizations that follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .............. 663,110,969 27 681,701,390
28 Temporarily restricted net assets ........... 1,012,417,312 28 1,048,602,573
29 Permanently restricted net assets ........... 417,594,087 29 443,728,025
Organizations that do not follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds ........   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ........... 2,093,122,368 33 2,174,031,988
34 Total liabilities and net assets/fund balances ........ 2,374,680,859 34 2,455,868,302
Form 990 (2014)
Form 990 (2014)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI ..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
382,424,681
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
293,926,099
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
88,498,582
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
2,093,122,368
5
Net unrealized gains (losses) on investments ...............
5
-7,552,023
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
-36,939
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
2,174,031,988
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII .............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? .................
3a
Yes
 
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
Yes
 
Form 990 (2014)
Form 990 (2014)
Page 13
Form 990, Special Condition Description:
Special Condition Description
Form 990 (2014)
Form 990 (2014)
Page 14
Additional Data


Software ID:  
Software Version:  
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
a
b
c
d
e
f
Enter the number of supported organizations .............................  
g
Provide the following information about the supported organization(s).
(i)Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 9 above or IRC section (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total    

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .... 59,623,923 49,971,800 39,468,790 38,894,729 72,518,796 260,478,038
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......           0
3 The value of services or facilities furnished by a governmental unit to the organization without charge..           0
4 Total. Add lines 1 through 3 59,623,923 49,971,800 39,468,790 38,894,729 72,518,796 260,478,038
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. 3,344,933
6 Public support. Subtract line 5 from line 4. 257,133,105
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
7 Amounts from line 4.. 59,623,923 49,971,800 39,468,790 38,894,729 72,518,796 260,478,038
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 14,323,626 9,271,841 13,489,358 14,036,241 13,999,461 65,120,527
9 Net income from unrelated business activities, whether or not the business is regularly carried on.. 897,012 0 0 0 0 897,012
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. 1,622,440 1,251,421 1,411,756 1,082,540 889,611 6,257,768
11 Total support Add lines 7 through 10. 332,753,345
12
12
851,589,708
13
First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................right arrow
Section C. Computation of Public Support Percentage
14
14
77.274 %
15
15
76.561 %
16a
b
17a
b
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 11 of Part I. If you checked 11a of Part I, complete Sections A and B. If you checked 11b of Part I, complete Sections A and C. If you checked 11c of Part I, complete Sections A, D, and E. If you checked 11d of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 11a or 11b in Part I, answer (b) and (c) below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations....
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, (iii) the authority under the organization's organizing document authorizing such action, and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (a) its supported organizations; (b) individuals that are part of the charitable class benefited by one or more of its supported organizations; or (c) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in IRC 4958(c)(3)(C)), a family member of a substantial contributor, or a 35-percent controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part II of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined in line 9(a)) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined in line 9(a)) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of IRC 4943 because of IRC 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described in (a) above?
11b
 
 
c
A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.
11c
 
 
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 5
Part IV
Supporting Organizations (continued)

Section B. Type I Supporting Organizations
Yes
No
1
Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (1) a written notice describing the type and amount of support provided during the prior tax year, (2) a copy of the Form 990 that was most recently filed as of the date of notification, and (3) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer (a) and (b) below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer (a) and (b) below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 6
Part V – Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

1.   Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970. See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    

Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors (explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by .035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    

Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7   Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 7
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity		  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations  
4 Amounts paid to acquire exempt-use assets  
5 Qualified set-aside amounts (prior IRS approval required)  
6 Other distributions (describe in Part VI). See instructions  
7Total annual distributions. Add lines 1 through 6.  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions		  
9 Distributable amount for 2014 from Section C, line 6  
10 Line 8 amount divided by Line 9 amount  

Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2014 		(iii)
Distributable
Amount for 2014
1 Distributable amount for 2014 from Section C, line
6 		 
2 Underdistributions, if any, for years prior to 2014
(reasonable cause required--see instructions)		  
3 Excess distributions carryover, if any, to 2014:
a From 2009.......X
b From 2010.......X
c From 2011.......X
d From 2012.......X
e From 2013.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2014 distributable amount  
i Carryover from 2009 not applied (see
instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.  
4Distributions for 2014 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2014 distributable amount  
c Remainder. Subtract lines 4a and 4b from 4.  
5 Remaining underdistributions for years prior to
2014, if any. Subtract lines 3g and 4a from line 2
(if amount greater than zero, see instructions)		  
6 Remaining underdistributions for 2014. Subtract
lines 3h and 4b from line 1 (if amount greater than
zero, see instructions)		  
7 Excess distributions carryover to 2015. Add lines
3j and 4c.		  
8 Breakdown of line 7:
a From 2010.......X
b From 2011.......X
c From 2012.......X
d From 2013.......  
e From 2014.......  
Schedule A (Form 990 or 990-EZ) (2014)
Schedule A (Form 990 or 990-EZ) 2014
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
Schedule A (Form 990 or 990-EZ) 2014

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
Page 2
Name of organization
The Trustees of The Smith College
  		Employer identification number

04-1843040
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
 
 

   
 
 
  ,    

$RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
Page 3
Name of organization
The Trustees of The Smith College
  		Employer identification number

04-1843040
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
Page 4
Name of organization
The Trustees of The Smith College
  		Employer identification number

04-1843040
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet Complete if the organization is described below.SchCMd Bullet Attach to Form 990 or Form 990-EZ.
SchCMd Bullet Information about Schedule C (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
If the organization answered "Yes" to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" to Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV.
2
Political expenditures ....................................SchCMd Bullet
$  
3
Volunteer hours ........................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 .........SchCMd Bullet
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 ......SchCMd Bullet
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............
4a
Was a correction made? .........................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ...................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b..SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ..........................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.










For Paperwork Reduction Act Notice, see the instructions for Form 990 or 990-EZ.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2014

Schedule C (Form 990 or 990-EZ) 2014
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check SchCMd Bulletexpenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group
totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......    
b Total lobbying expenditures to influence a legislative body (direct lobbying) .......    
c Total lobbying expenditures (add lines 1a and 1b) ...................    
d Other exempt purpose expenditures ........................    
e Total exempt purpose expenditures (add lines 1c and 1d) ...............    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
Not over $500,00020% of the amount on line 1e.
Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
Over $17,000,000$1,000,000.
g Grassroots nontaxable amount (enter 25% of line 1f) .................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ......................................

4-Year Averaging Period Under section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2011 (b) 2012 (c) 2013 (d) 2014 (e) Total
2a Lobbying nontaxable amount          
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		 
c Total lobbying expenditures          
d Grassroots nontaxable amount          
e Grassroots ceiling amount
(150% of line 2d, column (e))		  
f Grassroots lobbying expenditures          
Schedule C (Form 990 or 990-EZ) 2014


Schedule C (Form 990 or 990-EZ) 2014
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each "Yes" response to lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
No
Yes
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? .........................................
 
No
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....
 
No
c
Media advertisements? ....................................
 
No
 
d
Mailings to members, legislators, or the public? .........................
 
No
 
e
Publications, or published or broadcast statements? .......................
 
No
 
f
Grants to other organizations for lobbying purposes? .......................
Yes
 
5,000
g
Direct contact with legislators, their staffs, government officials, or a legislative body? ........
 
No
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......
 
No
 
i
Other activities? ..........................
 
No
 
j
Total. Add lines 1c through 1i ...............................
5,000
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
No
b
If "Yes," enter the amount of any tax incurred under section 4912 .................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? ..........
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members .....................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
 
b
Carryover from last year ....................................
2b
 
c
Total ............................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................
4
 
5
Taxable amount of lobbying and political expenditures (see instructions) ..............
5
 
Part IV
Supplemental Information
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
PART II-B, LINE 1F THE COLLEGE HAS MEMBERSHIPS IN VARIOUS PROFESSIONAL ASSOCIATIONS. THESE ASSOCIATIONS MAY, FROM TIME TO TIME, ENGAGE IN LOBBYING ACTIVITIES ON BEHALF OF THEIR MEMBERS. THIS IS AN ESTIMATE OF THE PORTION OF MEMBERSHIP DUES PAID THAT ARE DEVOTED TO THIS ACTIVITY.
Schedule C (Form 990 or 990EZ) 2014

Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $ 2,143,695
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $ 56,277,620
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:
a
Revenue included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
Teaching Primary Research Methods
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIII and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII .......
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current year (b)Prior year b (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance .... 1,755,755,227 1,557,426,714 1,409,755,120 1,429,527,292 1,243,560,774
b Contributions ........ -8,046,964 24,836,723 23,122,680 19,368,719 16,527,946
c Net investment earnings, gains, and losses 115,794,909 252,225,131 200,334,413 36,383,713 232,419,190
d Grants or scholarships ..... 28,834,455 28,421,742 27,031,582 26,223,371 25,283,847
e Other expenditures for facilities
and programs ........ 		48,585,988 46,636,428 44,587,384 41,006,435 40,298,747
f Administrative expenses .... 4,319,531 3,675,171 4,166,533 8,294,798 -2,601,976
g End of year balance ...... 1,781,763,198 1,755,755,227 1,557,426,714 1,409,755,120 1,429,527,292
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet21.885 %
b
Permanent endowment SchDMd Bullet22.128 %
c
Temporarily restricted endowment SchDMd Bullet55.986 %
The percentages in lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
Yes
 
(ii) related organizations ........................
3a(ii)
 
No
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land ................. 2,583,724 4,532,759 7,107,483
b Buildings ................ 13,746,090 538,860,395 221,605,067 331,001,418
c Leasehold improvements ............        
d Equipment ................   133,715,339 64,579,224 69,136,115
e Other .................   18,870,502 5,694,779 13,175,723
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 420,420,739
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
(3)Other
(A) LIMITED PARTNERSHIPS 		1,771,510,945 F

(B) FUNDS HELD BY OUTSIDE TRUSTEE 		35,311,743 F







Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet 1,806,822,688
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
Federal income taxes 0
INTEREST RATE SWAPS 11,555,641
LIFE INCOME OBLIGATIONS 19,702,911
POST RETIREMENT AND SEPARATION 6,140,939
FIN 47 OBLIGATION 19,843,651





Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 57,243,142
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 303,754,999
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a -7,552,023
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d -68,866,418
e Add lines 2a through 2d ..................... 2e -76,418,441
3 Subtract line 2e from line 1..................... 3 380,173,440
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a 4,664,826
b Other (Describe in Part XIII.) ........... 4b -2,413,585
c Add lines 4a and 4b....................... 4c 2,251,241
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 382,424,681
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 222,383,999
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d 3,457,459
e Add lines 2a through 2d...................... 2e 3,457,459
3 Subtract line 2e from line 1..................... 3 218,926,540
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a 4,664,826
b Other (Describe in Part XIII.) ............ 4b 70,334,733
c Add lines 4a and 4b....................... 4c 74,999,559
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 293,926,099
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART III, LINE 4 THE SMITH COLLEGE MUSEUM OF ART'S HOLDINGS INCLUDE PAINTINGS, SCULPTURES, WORKS ON PAPER (PRINTS, DRAWINGS, PHOTOGRAPHS, AND BOOKS), ANTIQUITIES, DECORATIVE ARTS, AND EMERGING COLLECTIONS OF NON-WESTERN ART. ITS WORKS-ON-PAPER COLLECTIONS ARE HOUSED IN THE CUNNINGHAM CENTER FOR THE STUDY OF PRINTS, DRAWINGS, AND PHOTOGRAPHS, A STATE-OF-THE-ART STUDY AND STORAGE FACILITY WITHIN THE MUSEUM. SMITH COLLEGE BEGAN COLLECTING ORIGINAL WORKS OF ART IN 1879, ONLY FOUR YEARS AFTER IT ENROLLED ITS FIRST CLASS. INITIALLY, PRESIDENT L. CLARK SEELYE BOUGHT WORKS OF CONTEMPORARY AMERICAN ART, OFTEN DIRECTLY FROM THE ARTISTS THEMSELVES, BELIEVING THAT STUDENTS SHOULD BE FAMILIAR WITH THE ART OF THEIR OWN TIME. AMERICAN ART HAS REMAINED ONE OF THE COLLECTIONS' CORE STRENGTHS. BY THE EARLY TWENTIETH CENTURY, ALFRED VANCE CHURCHILL, THE MUSEUM'S FIRST DIRECTOR, HAD EXPANDED THE COLLECTING SPHERE TO INCLUDE EUROPEAN ART. AT THE REQUEST OF THE COLLEGE'S TRUSTEES, CHURCHILL FORMALIZED THE MUSEUM'S COLLECTING GUIDELINES IN 1920. THESE INVOLVED A "CONCENTRATION PLAN" THAT FOCUSED ON THE MODERN ERA, WHICH HE DEFINED AS BEGINNING WITH THE FRENCH REVOLUTION. HIS PLAN EMPHASIZED THE IMPORTANCE OF COLLECTING WORKS OF HIGH QUALITY, WHILE RECOGNIZING THE INSTRUCTIONAL VALUE OF PREPARATORY STUDIES AND UNFINISHED WORKS THAT SHOW AN ARTIST'S WORKING METHOD. GUIDED BY THIS PLAN, THE MUSEUM ASSEMBLED IMPORTANT HOLDINGS OF FRENCH ART OF THE NINETEENTH CENTURY, INCLUDING SUPERB WORKS BY EDGAR DEGAS, JEAN-BAPTISTE-CAMILLE COROT, GUSTAVE COURBET, PAUL CEZANNE, CLAUDE MONET AND OTHERS. THE PLAN WAS REVISITED IN THE EARLY 1990S, AND ACQUIRING WORKS BY WOMEN ARTISTS AND ARTISTS OF COLOR BECAME A COLLECTING PRIORITY. IN THE LAST DECADE, THE COLLECTING PLAN HAS SIGNIFICANTLY EXPANDED TO INCLUDE AFRICAN, ISLAMIC, AND, PARTICULARLY, ASIAN ART TO SUPPORT THE COLLEGE'S GLOBAL CURRICULUM. THE NEWEST ACQUISITIONS TO THE MUSEUM'S COLLECTION INCLUDE WORKS BY JAUNE QUICK-TO-SEE SMITH, ANA MENDIETA, MISHIMA KIMIYO, TADDEO DI BARTOLO, ROBERT MOTHERWELL AND BETYE SAAR. EXHIBITIONS HAVE INCLUDED THE EYE IS A DOOR: LANDSCAPE PHOTOGRAPHS BY ANNE WISTON SPIM; FRAMEWORK X; RIVER OF GOLD: PRECOLUMBIAN TREASURES FROM SITIO CONTE; LOOK AT ME, ME, ME!; EYE ON THE STREET; SHARED INSPIRATION: THE MURIEL K. AND DAVID R. POKROSS COLLECTION. THE MUSEUM HOSTS SECOND FRIDAYS, FAMILY EVENTS FOR THOSE WHO ARE 4+, THAT HAS INCLUDED INDOOR SCULPTURE SKETCHING, PARQUETRY PATTERNS BASED ON BAUHAUS GRAPHIC DESIGN, CHINESE WATERCOLOR COLLAGES INSPIRED BY POST MAO DREAMING AND KINETIC SCULPTURES. THE SMITH COLLEGE LIBRARIES ADVANCE TEACHING, LEARNING, RESEARCH, AND DISCOVERY FOR SMITH STUDENTS, FACULTY AND STAFF BY OFFERING COLLECTIONS IN MULTIPLE FORMATS, PROVIDING ACCESS TO INFORMATION WORLDWIDE, AND ESTABLISHING SERVICES AND LEARNING ENVIRONMENTS RESPONSIVE TO USERS' NEEDS. THE LIBRARIES FURTHER SUPPORT WOMEN'S EDUCATION THROUGH AN INTERNATIONALLY RECOGNIZED REPOSITORY OF ARCHIVES AND MANUSCRIPTS DOCUMENTING THE HISTORY OF WOMEN. - WILLIAM ALLEN NEILSON LIBRARY IS THE MAIN LIBRARY WITH STRONG COLLECTIONS IN THE HUMANITIES AND SOCIAL SCIENCES. - ANITA O'K AND ROBERT R. YOUNG SCIENCE LIBRARY HAS AN EXTENSIVE COLLECTION THAT SUPPORTS RESEARCH IN ASTRONOMY, BIOLOGY, CHEMISTRY, COMPUTER SCIENCE, ENGINEERING, EXERCISE AND SPORTS STUDIES, GEOSCIENCES, HISTORY OF SCIENCE, MATHEMATICS, PHYSICS AND PSYCHOLOGY. - HILLYER ART LIBRARY IS A SPECIALIZED BRANCH COLLECTION THAT HOUSES MATERIALS ON THE HISTORY, THEORY, CRITICISM, AND PRACTICE OF THE VISUAL ARTS. - WERNER JOSTEN PERFORMING ARTS LIBRARY SUPPORTS THE TEACHING, LEARNING, RESEARCH, AND PERFORMANCE PROGRAMS OF THE MUSIC, THEATRE AND DANCE DEPARTMENTS. - THE COLLEGE ARCHIVES HOUSES A RICH COLLECTION OF MATERIAL DOCUMENTING THE HISTORY OF SMITH COLLEGE FROM THE 1860S TO THE PRESENT. - MORTIMER RARE BOOK ROOM IS A COLLECTION OF NEARLY 40,000 VOLUMES THAT COVERS THE HISTORY OF PRINTING FROM THE FIFTEENTH CENTURY TO THE TWENTIETH. ALL ASPECTS OF THE BOOK ARTS ARE REPRESENTED. THE COLLECTION IS BEING DIGITIZED, MAKING IT AVAILABLE WITHOUT CHARGE ON THE INTERNET. - THE SOPHIA SMITH COLLECTION IS AN INTERNATIONALLY RECOGNIZED REPOSITORY OF MANUSCRIPTS, PHOTOGRAPHS, PERIODICALS AND OTHER PRIMARY SOURCES IN WOMEN'S HISTORY.
PART IV, LINE 2B THE COLLEGE IS THE FISCAL AGENT FOR THE ALUMNAE ASSOCIATION OF SMITH COLLEGE, SMITH STUDENTS' AID SOCIETY, INC., ASSOCIATED KYOTO PROGRAM, SMITH COLLEGE CLUB OF NEW YORK CITY AND THE PERKINS LOAN PROGRAM.
PART V, LINE 4 THE SMITH COLLEGE ENDOWMENT PROVIDES A CRITICAL FUNDING STREAM THAT ALLOWS THE COLLEGE TO PROVIDE FINANCIAL AID TO STUDENTS WITH NEED, SHAPE THE COMPOSITION OF ITS FACULTY TO MEET CURRICULAR OBJECTIVES, MAINTAIN AND EXPAND FACILITIES, DEVELOP NEW INITIATIVES AND PROGRAMS TO RESPOND TO CURRENT SOCIETAL AND INTELLECTUAL CHALLENGES, AND KEEP PACE WITH TECHNOLOGICAL CHANGES INTEGRAL TO TODAY'S TEACHING AND LEARNING. AT SMITH, THE ENDOWMENT HAS GROWN TO PROVIDE APPROXIMATELY 30% OF OPERATING REVENUE BY EMPLOYING A SPENDING RATE APPROACH THAT SEEKS THE LARGEST RESPONSIBLE ANNUAL CONTRIBUTION TO OPERATIONS WHILE PROVIDING ADEQUATE DOWNSIDE PROTECTION AGAINST PERIODS OF DECLINING RETURNS AND WHILE PRESERVING THE PURCHASING POWER OF THE ENDOWMENT TO BENEFIT FUTURE GENERATIONS OF STUDENTS. THE TOP FIVE USES OF THE ENDOWMENT FOR FY2015 WERE AS FOLLOWS: UNDERGRADUATE GRANT AID 34%, FACULTY COMPENSATION 19%, OPERATION & MAINTENANCE OF FACILITIES 5%, LIBRARIES 3% & FACULTY RESEARCH SUPPORT 3%. EFFECTIVE JULY 1, 2014, THE COLLEGE RECLASSIFIED THE CAPITAL RESERVE FUND THE AMOUNT OF $30.5 MILLION FROM ENDOWMENT TO CO-INVESTED TO MORE PROPERLY REFLECT ITS PURPOSE.
PART X, LINE 2 The college is an organization described under Internal Revenue Code (IRC)Section 501(c)(3) and is generally exempt from federal and state taxes under the Section 501(a) of the Code and applicable state laws. The college believes it has taken no significant uncertain tax positions.
PART XI, LINE 2D ALUMNAE ASSOCIATION 1,509,151 LIFE INCOME FUNDS (40,836) STUDENT GRANTS (66,191,201) SWAPS (4,143,532) TOTAL (68,866,418)
PART XI, LINE 4B RENTAL (1,658,928) COST OF GOODS SOLD (887,540) RETURNED GIFTS 132,464 ROUNDING ADJUSTMENT 419 TOTAL (2,413,585)
PART XII, LINE 2D RENTAL 1,658,928 ALUMNAE ASSOCIATION 1,043,705 COST OF GOODS SOLD 887,540 RETURNED GIFTS (132,464) ROUNDING ADJUSTMENT (250) TOTAL 3,457,459
PART XII, LINE 4B STUDENT GRANTS 66,191,201 SWAPS 4,143,532 TOTAL 70,334,733
Schedule D (Form 990) 2014

Additional Data


Software ID:  
Software Version:  




SCHEDULE E(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Schools
Right pointing arrow large imageComplete if the organization answered "Yes" to Form 990,
Part IV, line 13, or Form 990-EZ, Part VI, line 48.
Right pointing arrow large image Attach to Form 990 or Form 990-EZ.
Right pointing arrow large image Information about Schedule E (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047 2014Open to Public Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
YES
NO
1
Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,
other governing instrument, or in a resolution of its governing body? ......................
1
Yes
 
2
Does the organization include a statement of its racially nondiscriminatory policy toward students in all its
brochures, catalogues, and other written communications with the public dealing with student admissions,
programs, and scholarships? ......................................
2
Yes
 
3
Has the organization publicized its racially nondiscriminatory policy through newspaper or broadcast media during
the period of solicitation for students, or during the registration period if it has no solicitation program, in a way
that makes the policy known to all parts of the general community it serves? If "Yes," please describe. If "No,"
please explain. If you need more space use Part II. .............................
3
Yes
 
 
4
Does the organization maintain the following?
a
Records indicating the racial composition of the student body, faculty, and administrative staff? ..........
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? ...............................................
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? ...........................
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? ..............
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? .....................................
5a
 
No
b
Admissions policies? .........................................
5b
 
No
c
Employment of faculty or administrative staff? ..............................
5c
 
No
d
Scholarships or other financial assistance? ................................
5d
 
No
e
Educational policies? .........................................
5e
 
No
f
Use of facilities? ...........................................
5f
 
No
g
Athletic programs? ..........................................
5g
 
No
h
Other extracurricular activities? .....................................
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? ...........
6a
Yes
 
b
Has the organization's right to such aid ever been revoked or suspended? ...................
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain on Part II.
7
Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05
of Rev. Proc. 75-50, 1975-2 C.B. 587, covering racial nondiscrimination? If "No," explain on Part II.
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ.
Cat. No. 50085D
Schedule E (Form 990 or 990-EZ) (2014)
Schedule E (Form 990 or 990EZ) (2014)
Page 2
Part II
Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also provide any other additional information (see instructions).
Return Reference Explanation
PART I, LINE 3 DUE TO ITS NATIONAL & INTERNATIONAL AUDIENCES FOR STUDENTS AND EMPLOYEES, SMITH COLLEGE INCLUDES ITS NOTICE OF NONDISCRIMINATION IN ALL MARKETING MATERIALS AND ON THE WEB. SMITH COLLEGE IS COMMITTED TO MAINTAINING A DIVERSE COMMUNITY IN AN ATMOSPHERE OF MUTUAL RESPECT & APPRECIATION OF DIFFERENCES. SMITH COLLEGE DOES NOT DISCRIMINATE IN ITS EDUCATIONAL & EMPLOYMENT POLICIES ON THE BASES OF RACE, COLOR, CREED, RELIGION, NATIONAL/ETHNIC ORIGIN, SEX, SEXUAL ORIENTATION, AGE, OR WITH REGARD TO THE BASES OUTLINED IN THE VETERANS READJUSTMENT ACT AND AMERICANS WITH DISABILITY ACT. SMITH'S ADMISSION POLICIES AND PRACTICES ARE GUIDED BY THE SAME PRINCIPLE, CONCERNING WOMEN APPLYING TO THE UNDERGRADUATE PROGRAM AND ALL APPLICANTS TO THE GRADUATE PROGRAMS.
PART I, LINE 6A SMITH COLLEGE RECEIVED FINANCIAL AID OR ASSISTANCE FROM GOVERNMENTAL AGENCIES FOR THE BENEFIT OF THE COLLEGE'S STUDENTS.
Schedule E (Form 990 or 990-EZ) (2014)
Additional Data


Software ID:  
Software Version:  
SCHEDULE F(Form 990)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,Part IV, line 14b, 15, or 16.Right pointing arrow large image Attach to Form 990.Right pointing arrow large image Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of its grants
and other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria
used to award the grants or assistance? ...........................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in region (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total expenditures
for and investments
in region
East Asia and the Pacific     Program Services Int'l Student Scholars 123,829
Europe (Including Iceland and Greenland)     Program Services Int'l Student Scholars 45,483
Middle East and North Africa     Program Services Int'l Student Scholars 81,186
South America     Program Services Int'l Student Scholars 40,734
South Asia     Program Services Int'l Student Scholars 26,609
Sub-Saharan Africa     Program Services Int'l Student Scholars 90,451
Central America and the Caribbean     Program Services College Study Program 284,433
East Asia and the Pacific     Program Services College Study Program 954,452
Europe (Including Iceland and Greenland) 4 8 Program Services College Study Program 6,414,570
Middle East and North Africa     Program Services College Study Program 81,439
North America     Program Services College Study Program 24,858
Russia and the Newly Independent States     Program Services College Study Program 87,200
South America     Program Services College Study Program 420,171
South Asia     Program Services College Study Program 238,290
Sub-Saharan Africa     Program Services College Study Program 162,994
Europe (Including Iceland and Greenland)     Fundraising   41,703
East Asia and the Pacific     Fundraising   15,887
Middle East and North Africa     Fundraising   5,110
Central America and the Caribbean     Grantmaking   8,585
East Asia and the Pacific     Grantmaking   29,629
Europe (Including Iceland and Greenland)     Grantmaking   120,046
North America     Grantmaking   2,550
South America     Grantmaking   6,800
South Asia     Grantmaking   3,300
Sub-Saharan Africa     Grantmaking   9,766
Central America and the Caribbean     Investments   546,786,860
Europe (Including Iceland and Greenland)     Investments   54,591
3a Sub-total ..... 4 8 9,134,289
b Total from continuation sheets to Part I ...     547,027,237
c Totals (add lines 3a and 3b) 4 8 556,161,526
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (a)(c) Region (b)(d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter ....MediumBullet
 
3
Enter total number of other organizations or entities .......................MediumBullet
 
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
Financial Aid Central America and the Caribbean 10 8,585 Cash   n/a FMV
Financial Aid East Asia and the Pacific 52 153,458 Cash   n/a FMV
Financial Aid Europe (Including Iceland and Greenland) 62 165,529 Cash   n/a FMV
Financial Aid Middle East and North Africa 6 81,186 Cash   n/a FMV
Financial Aid South America 4 47,534 Cash   n/a FMV
Financial Aid South Asia 9 29,909 Cash   n/a FMV
Financial Aid Sub-Saharan Africa 13 100,217 Cash   n/a FMV
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,"the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; do not file with Form 990)............................
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621)...............................................
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships. (see Instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see Instructions for Form 5713; do not file with Form 990).....................................
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).
ReturnReference Explanation
PART I, LINE 2 THE COLLEGE MONITORS ALL GRANTS TO ENSURE THAT THE FUNDS ARE UTILIZED APPROPRIATELY. FOR GRANTS APPLIED TO COVER TUITION AND OTHER FEES, ACADEMIC PROGRESS IS REQUIRED TO ENSURE CONTINUED FUNDING. INTERNSHIPS REQUIRE PROOF OF PARTICIPATION AND SATISFACTORY ACADEMIC CONTENT. OTHER FINANCIAL ASSISTANCE REQUIRES DEMONSTRATED NEED. PART I, LINE 3 THE COLLEGE ENCOURAGES STUDY ABROAD FOR ALL OF ITS UNDERGRADUATE STUDENTS. THE COLLEGE OPERATES FOUR PROGRAMS IN EUROPE. IN ADDITION, STUDENTS MAY STUDY ELSEWHERE OUTSIDE THE UNITED STATES AT PREAPPROVED LOCATIONS. THE COLLEGE AND ITS EMPLOYEES MAY ENGAGE IN OTHER ACTIVITIES SUCH AS RESEARCH AND FUNDRAISING. FOR STUDY ABROAD, STUDENTS PAY THE COLLEGE ITS COMPREHENSIVE FEE WITH OFFSETTING GRANTS PROVIDED IN ACCORDANCE WITH STANDARD COLLEGE FINANCIAL AID POLICIES AND PROCEDURES. THE COLLEGE PAYS FOREIGN SCHOOLS TO PROVIDE TEACHING AND ACCOMMODATIONS. FOREIGN TRAVEL AND OTHER EXPENSES REQUIRED FULL REPORTING UNDER THE COLLEGE'S ACCOUNTABLE PLAN FOR REIMBURSEMENT OF BUSINESS EXPENSES. THE COLLEGE'S INVESTMENT STRATEGY ENCOMPASSES A GLOBAL APPROACH TO INVESTMENT ACTIVITIES. THE ACTUAL LOCATION OF THESE INVESTMENTS MAY VARY SIGNIFICANTLY FROM THE LEGAL DOMICILE OF THE INVESTMENT VEHICLE (FUND-OF-FUNDS).
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) 2014
Additional Data


Software ID:  
Software Version:  



SCHEDULE G (Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" to Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrowAttach to Form 990 or Form 990-EZ.
right arrowInformation about Schedule G (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
Fundraising Activities. Complete if the organization answered "Yes" to Form 990, Part IV, line 17. Form 990-EZ
filers are not required to complete this part.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
Did the organization have a written or oral agreement with any individual (including officers, directors, trustees
or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?
b
If "Yes," list the ten highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.
(i) Name and address of individual
or entity (fundraiser) 		(ii) Activity (iii) Did fundraiser have custody or control of contributions? (iv) Gross receipts
from activity 		(v) Amount paid to
(or retained by)
fundraiser listed in
col. (i) 		(vi) Amount paid to
(or retained by)
organization
Yes No
DRIVER 8 LLC Lyndhurst NJ 07071 CONSULTING   No   86,270  
INGEBORG REICHENBACH ITHACA NY 148 CONSULTING   No   70,246  
BLACKBAUD INC CarLsbadCA 92009 CONSULTING   No   10,108  
             
             
             
             
             
             
             
Total .................right arrow   166,624  
3
List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.
MA
For Paperwork Reduction Act Notice, see the Instructions for Form 990or 990-EZ.
Cat. No. 50083H
Schedule G (Form 990 or 990-EZ) 2014
Schedule G (Form 990 or 990-EZ) 2014
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.
(a) Event #1

 
(event type) 		(b) Event #2

 
(event type) 		(c) Other events

 
(total number) 		(d) Total events
(add col. (a) through col. (c))
VerticalRevenue 1 Gross receipts . . .        
2 Less: Contributions . .        
3 Gross income (line 1
minus line 2) . . . 		       
VerticalDirectExpenses 4 Cash prizes . . .        
5 Noncash prizes . .        
6 Rent/facility costs . .        
7 Food and beverages .        
8 Entertainment . . .        
9 Other direct expenses .        
10 Direct expense summary. Add lines 4 through 9 in column (d) ........... right arrow  
11 Net income summary. Subtract line 10 from line 3, column (d)........... right arrow  
Part III
Gaming. Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
VerticalRevenue (a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (add col.(a) through col.(c))
1 Gross revenue . . . .        
VerticalDirectExpenses 2 Cash prizes . . . .        
3 Non-cash prizes . . .        
4 Rent/facility costs . . .        
5 Other direct expenses . .        
6 Volunteer labor . . .
%
%
%
7 Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow  
8 Net gaming income summary. Subtract line 7 from line 1, column (d) ......... right arrow  
9
Enter the state(s) in which the organization conducts gaming activities:
a
Is the organization licensed to conduct gaming activities in each of these states? ............
b
If "No," explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....
b
If "Yes," explain:
 
Schedule G (Form 990 or 990-EZ) 2014
Schedule G (Form 990 or 990-EZ) 2014
Page 3
11
Does the organization conduct gaming activities with nonmembers? .................
12
Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity
formed to administer charitable gaming? ..........................
13
Indicate the percentage of gaming activities conducted in:
a
The organization's facility ......................
13a
%
b
An outside facility ........................
13b
%
14
Enter the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? ......................................
b
If "Yes," enter the amount of gaming revenue received by the organization right arrow $   and the
amount of gaming revenue retained by the third party right arrow $  
c
If "Yes," enter name and address of the third party:
Name right arrow
Address right arrow
 
 
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? ............................
b
Enter the amount of distributions required under state law distributed to other exempt organizations or spent
in the organization's own exempt activities during the tax year right arrow$  
Part IV
Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v), and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information (see instructions).
Return Reference Explanation
PART I, LINE 3 THE TRUSTEES OF SMITH COLLEGE IS ORGANIZED AND OPERATES IN MASSACHUSETTS AND MAKES ALL APPROPRIATE FILINGS IN MASSACHUSETTS. IT MAINTAINS CONTACT WITH ALUMNAE AND FRIENDS IN EVERY STATE.
Schedule G (Form 990 or 990-EZ) 2014
Additional Data


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Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number
04-1843040
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21, for any recipient that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) New England Public Radio FDN
PO Box 2085
Amherst,MA01004 		04-6130523 501 (c)(3) 11,543   FMV n/a  
(2) Massachusetts Foundation for the Humanities
66 Bridge Street
Northampton,MA01060 		22-2504778 501 (c)(3) 9,250   FMV n/a  
(3) Woodrow Wilson Internation Ctr for Scholars
1 Woodrow Wilson Plaza 1300 Pennsyl
Washington,DC20004 		52-1067541 501 (c)(3) 20,000   FMV n/a  
(4) Cooley Dickinson Hospital Health Care Corp
PO Box 329
Northampton,MA01061 		04-2103561 501 (c)(3) 50,000   FMV n/a GENERAL SUPPORT
















2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image
4
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2014

Schedule I (Form 990) 2014
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance
(1) Financial Aid applied to Tuition/Fees 2207 65,874,651   FMV n/a
(2) Academic Internships 937 1,751,337   FMV n/a
(3) Prizes 210 188,502   FMV n/a
(4) Other Financial Assistance 278 135,704   FMV n/a






Part IV
Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.
Return Reference Explanation
MONITOR THE USE OF GRANTS FUNDS IN THE U.S. PART I, LINE 2 SMITH COLLEGE AWARDS SCHOLARSHIP GRANTS AND LOANS TO STUDENTS WHO ARE ABLE TO DEMONSTRATE FINANCIAL NEED. EACH STUDENT IS REQUIRED TO SUBMIT A PARENT'S CONFIDENTIAL QUESTIONNAIRE WHICH BECOMES THE BASIS OF DETERMINING NEED. GUIDELINES ISSUED BY THE COLLEGE SCHOLARSHIP SERVICE ARE USED IN ASCERTAINING THE FINANCIAL REQUIREMENT OF THE STUDENTS. THE FINANCIAL NEED IS GENERALLY MET THROUGH A COMBINATION OF LOANS AND GRANTS. BOTH ARE CREDITED TO THE STUDENT'S SEMESTER BILL THUS REDUCING THE PAYMENT DUE TO THE COLLEGE. THE COLLEGE ALSO AWARDS A RELATIVELY SMALL NUMBER OF MERIT-BASED GRANTS. THE COLLEGE FUNDS INTERNSHIPS THAT MEET RIGOROUS ACADEMIC CRITERIA. OTHER FINANCIAL ASSISTANCE IS PROVIDED TO MEET EMERGENCY TYPE AID ON A CASE-BY-CASE BASIS. THE COLLEGE MONITORS ALL GRANTS TO INDIVIDUALS TO ENSURE THAT FUNDS ARE UTILIZED APPROPRIATELY. FOR GRANTS APPLIED TO COVER TUITION AND OTHER FEES, ACADEMIC PROGRESS IS REQUIRED TO ENSURE CONTINUED FUNDING. INTERNSHIPS REQUIRE PROOF OF PARTICIPATION AND SATISFACTORY ACADEMIC CONTENT. OTHER FINANCIAL ASSISTANCE REQUIRES DEMONSTRATED NEED. GRANTS TO ORGANIZATIONS ARE ONLY MADE TO THOSE RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS BEING DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(3).
Schedule I (Form 990) 2014


Additional Data


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Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet Attach to Form 990.
SchJMediumBullet Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ................
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2014

Schedule J (Form 990) 2014
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column(B) reported as deferred in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
1KATHLEEN MCCARTNEYPRESIDENT (i)
(ii)		 453,395
...............................
0 		0
...............................
0 		2,675
...............................
0 		32,010
...............................
0 		34,012
...............................
0 		522,092
...............................
0 		0
...............................
0
2RUTH CONSTANTINEVP FINANCE & ADMIN/TREASURER (i)
(ii)		 312,323
...............................
0 		0
...............................
0 		2,088
...............................
0 		32,010
...............................
0 		8,063
...............................
0 		354,484
...............................
0 		0
...............................
0
3KATHERINE ROWEPROVOST & DEAN OF FACULTY (i)
(ii)		 117,612
...............................
0 		0
...............................
0 		175
...............................
0 		13,394
...............................
0 		22,267
...............................
0 		153,448
...............................
0 		0
...............................
0
4LAURA SMIAROWSKICONTROLLER (i)
(ii)		 138,138
...............................
0 		0
...............................
0 		113
...............................
0 		16,520
...............................
0 		23,507
...............................
0 		178,278
...............................
0 		0
...............................
0
5LAURIE FENLASONVP PUBLIC AFFAIRS (i)
(ii)		 248,543
...............................
0 		5,000
...............................
0 		365
...............................
0 		31,748
...............................
0 		22,250
...............................
0 		307,906
...............................
0 		0
...............................
0
6DAVID GREGORYVP INFORMATION TECH (i)
(ii)		 198,818
...............................
0 		0
...............................
0 		1,164
...............................
0 		24,107
...............................
0 		10,629
...............................
0 		234,718
...............................
0 		0
...............................
0
7BETH B RAFFELDVP FOR DEVELOPMENT (i)
(ii)		 343,568
...............................
0 		0
...............................
0 		1,517
...............................
0 		32,010
...............................
0 		1,797
...............................
0 		378,892
...............................
0 		0
...............................
0
8AUDREY YALE SMITHVP ENROLLMENT (i)
(ii)		 181,579
...............................
0 		0
...............................
0 		724
...............................
0 		22,746
...............................
0 		47,631
...............................
0 		252,680
...............................
0 		0
...............................
0
9RANDALL K BARTLETTPROFESSOR (i)
(ii)		 171,662
...............................
0 		0
...............................
0 		39,450
...............................
0 		25,760
...............................
0 		20,777
...............................
0 		257,649
...............................
0 		0
...............................
0
10JOHN H DAVISPROFESSOR (i)
(ii)		 197,094
...............................
0 		0
...............................
0 		4,320
...............................
0 		24,575
...............................
0 		15,218
...............................
0 		241,207
...............................
0 		0
...............................
0
11JOSEPH O'ROURKEASSOCIATE PROVOST (i)
(ii)		 245,729
...............................
0 		2,500
...............................
0 		1,589
...............................
0 		31,043
...............................
0 		21,964
...............................
0 		302,825
...............................
0 		0
...............................
0
12ANDREW ZIMBALISTPROFESSOR (i)
(ii)		 212,849
...............................
0 		0
...............................
0 		11,453
...............................
0 		28,234
...............................
0 		25,964
...............................
0 		278,500
...............................
0 		0
...............................
0
13CAROL T CHRISTPRESIDENT EMERITA (i)
(ii)		 199,598
...............................
0 		0
...............................
0 		2,603
...............................
0 		23,976
...............................
0 		196
...............................
0 		226,373
...............................
0 		0
...............................
0
14MARILYN SCHUSTERFORMER PROVOST (i)
(ii)		 215,797
...............................
0 		0
...............................
0 		9,812
...............................
0 		26,309
...............................
0 		8,296
...............................
0 		260,214
...............................
0 		0
...............................
0
15MAUREEN MAHONEYFORMER VP CAMPUS LIFE (i)
(ii)		 209,008
...............................
0 		0
...............................
0 		1,535
...............................
0 		25,718
...............................
0 		11,086
...............................
0 		247,347
...............................
0 		0
...............................
0
Schedule J (Form 990) 2014

Schedule J (Form 990) 2014
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.
Return Reference Explanation
COMPENSATION PART I, LINE 1A HOUSING ALLOWANCE: THE PRESIDENT IS REQUIRED TO LIVE ON-CAMPUS IN THE PRESIDENT'S HOUSE AS A CONDITION OF EMPLOYMENT AND, THEREFORE, THE HOUSING ALLOWANCE IS NOT TAXABLE. THE AMOUNT IS INCLUDED IN COLUMN D OF SCHEDULE J, PART II. SOCIAL CLUB MEMBERSHIP FEE: THE PRESIDENT'S MEMBERSHIP FEE TO YALE CLUB OF NEW YORK IS COVERED FOR THE PURPOSES OF CONDUCTING COLLEGE-RELATED BUSINESS. PERSONAL SERVICES: A COLLEGE EMPLOYEE PREPARES MEALS AT THE PRESIDENT'S HOUSE FOR THE CONVENIENCE OF THE COLLEGE. A COLLEGE EMPLOYEE FROM ITS FACILITIES MAINTENANCE DEPARTMENT IS ASSIGNED TO THE PRESIDENT'S HOUSE. THE HOME IS MAINTAINED SIMILARLY TO OTHER CAMPUS FACILITIES. IN ADDITION TO CLEANING AND MAINTAINING THE PUBLIC AREAS OF THE RESIDENCE, THE INDIVIDUAL PERFORMS A SMALL AMOUNT OF LIGHT HOUSEKEEPING (INCLUDING DUSTING AND VACUUMING)IN THE PRESIDENT'S PERSONAL QUARTERS. THIS HOUSEKEEPING IS CONSIDERED TO BE OF NO ADDITIONAL COST TO THE INSTITUTION. A COLLEGE CAR AND DRIVER ARE PROVIDED WHEN TRAVELING ON COLLEGE BUSINESS. THESE BENEFITS ARE NONTAXABLE. THE PRESIDENT REIMBURSES THE COLLEGE FOR ANY NON-BUSINESS USE OF THE CAR AND DRIVER DURING THE YEAR.
BONUS/INCENTIVE COMPENSATION PART I, LINE 7 THE COLLEGE DEDICATES A SMALL AMOUNT OF A BONUS POOL TO EACH MEMBER OF THE PRESIDENT'S CABINET TO AWARD WITHIN THEIR DIVISIONS. BONUSES ARE NOT CONTRACTUALLY BASED ON SALES, PRODUCTION, ETC... INSTEAD, THEY ARE TYPICALLY GIVEN FOR EXTRA EFFORT, COMPLETION OF A PROJECT, ETC... AND, THEY ARE TYPICALLY AWARDED AFTER-THE-FACT.
Schedule J (Form 990) 2014

Additional Data


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Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number
04-1843040
Part I
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer 		(i) Pool
financing
Yes No Yes No Yes No
A MASSACHUSETTS DEV FINANCE AGENCY (SERIES 2007)
  		04-3431814 57583RQZ1 07-31-2007 72,960,000 RENOVATION & NEW CONSTRUCTION   X   X   X
B MASSACHUSETTS DEV FINANCE AGENCY (SERIES 2005)
  		04-3431814 57583RBT1 07-20-2005 35,196,700 RENOVATION & NEW CONSTRUCTION   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired . . . . . . . . . . . . . . 0 0    
2 Amount of bonds legally defeased . . . . . . . . . . . 0 0    
3 Total proceeds of issue . . . . . . . . . . . . . . 76,408,987 36,824,990    
4 Gross proceeds in reserve funds . . . . . . . . . . . . 0 0    
5 Capitalized interest from proceeds . . . . . . . . . . . 0 0    
6 Proceeds in refunding escrows . . . . . . . . . . . . 0 0    
7 Issuance costs from proceeds . . . . . . . . . . . . 421,040 351,941    
8 Credit enhancement from proceeds . . . . . . . . . . . 38,954 0    
9 Working capital expenditures from proceeds . . . . . . . . . 0 0    
10 Capital expenditures from proceeds . . . . . . . . . . . 74,568,993 36,473,049    
11 Other spent proceeds . . . . . . . . . . . . . . 1,380,000 0    
12 Other unspent proceeds . . . . . . . . . . . . . . 0 0    
13 Year of substantial completion . . . . . . . . . . . . 2010 2008
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? . . . . .   X   X        
15 Were the bonds issued as part of an advance refunding issue? . . . . .   X   X        
16 Has the final allocation of proceeds been made? . . . . . . . . X   X          
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . . X   X          
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .   X   X        
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .   X   X        
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2014
Schedule K (Form 990) 2014
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . . X   X          
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X   X          
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . . X   X          
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X          
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . SchKMediumBullet 0.020 % 1.420 %    
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . . SchKMediumBullet        
6 Total of lines 4 and 5 . . . . . . . . . . . . . 0.020 % 1.420 %    
7 Does the bond issue meet the private security or payment test? . . . . .   X   X        
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .   X   X        
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .   X   X        
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? . . . . . . . 		X   X          
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? . . X     X        
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .   X   X        
b Exception to rebate? . . . . . . . .   X   X        
c No rebate due? . . . . . . . . X   X          
If "Yes" to line 2c, provide in Part VI the date the rebate
computation was performed . . . . . .
3 Is the bond issue a variable rate issue? . . . . X     X        
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue? X     X        
b Name of provider . . . . . . . . . JP MORGAN CHASE
  		0
  		 
  		 
 
c Term of hedge . . . . . . . . . . 28.5      
d Was the hedge superintegrated? . . . . X              
e Was the hedge terminated? . . . . . .   X            
Schedule K (Form 990) 2014
Schedule K (Form 990) 2014
Page 3
Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . . X   X          
b Name of provider . . . . . . . . . DEPFA
  		SOCIETE GENERALE
  		 
  		 
 
c Term of GIC . . . . . . . . . . 3. 3.    
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . . X   X          
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .   X   X        
7 Has the organization established written procedures to monitor the requirements of section 148? . . . X   X          
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations?   X   X        
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
SCHEDULE K, PART II, LINE 3 FOR BOTH BOND ISSUES, THE AMOUNT IN THE TOTAL PROCEEDS OF ISSUE INCLUDES INTEREST INCOME EARNED IN THE UNSPENT CONSTRUCTION FUNDS' BANK ACOUNT. ALL PROCEEDS WERE SPENT ON CONSTRUCTION WITHIN THREE YEARS OF THE BOND ISSUE DATE.
SCHEDULE K, PART II, LINE 11 THE OTHER SPENT PROCEEDS OF $1,380,000 WAS THE AMOUNT FROM THE PROCEEDS TO PAY THE ARBITRAGE ON THE 8038-T FILED IN 2011.
SCHEDULE K, PART IV, LINE 2C THE ARBITRAGE COMPUTATION IS CALCULATED ANNUALLY FOR BOTH BOND ISSUES BY AMTEC, AN OUTSIDE FIRM. THE LAST CALCULATION WAS PERFORMED FOR APRIL 30, 2014.
SCHEDULE K, PART V THE COLLEGE IS IN THE PROCESS OF UPDATING ESTABLISHED WRITTEN PROCEDURES TO ENSURE THAT VIOLATIONS OF FEDERAL TAX REQUIREMENTS ARE TIMELY IDENTIFIED AND CORRECTED THROUGH THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE UNDER APPLICABLE REGULATIONS.
Schedule K (Form 990) 2014

Additional Data


Software ID:  
Software Version:  

Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V, line 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ.
MediumBulletInformation about Schedule L (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No





2
Enter the amount of tax incurred by organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e)Original principal amount (f)Balance due (g) In default? (h) Approved by board or committee? (i)Written agreement?
To From Yes No Yes No Yes No
(1) LAURIE FENLASON EMPLOYEE PURCHASE OF HOME   X 48,000 2,121   No Yes   Yes  
(2) ANDREW ZIMBALIST EMPLOYEE ACCOUNTS RECEIVABLE   X 37 37   No   No Yes  
(3) DAVID GREGORY EMPLOYEE PURCHASE OF HOME   X 75,000 60,781   No Yes   Yes  
(4) MICHAEL HOWARD EMPLOYEE PURCHASE OF HOME   X 75,000 73,219   No Yes   Yes  
(5) KATHERINE ROWE EMPLOYEE PURCHASE OF HOME   X 75,000 73,482   No Yes   Yes  
Total ......Small Bullet $ 209,640
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
(1)  
  		  32,982 ACCOUNTABLE PLAN EXPENSES RESEARCH & PROF DEVLPMNT
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2014
Schedule L (Form 990 or 990-EZ) 2014
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) COLLEGIATE CATALYST FUND LAURA SMIAROWSKI- OFFICER 195,075 INSURANCE PREMIUMS   No
(2) COLLEGIATE CATALYST FUND LAURA SMIAROWSKI- OFFICER 117,425 CLAIMS PAID   No
(3) INDEPENDENT SCHOOLS COMPENSATION CO LAURA SMIAROWSKI- OFFICER 529,550 INSURANCE PREMIUMS   No
(4) INDEPENDENT SCHOOLS COMPENSATION CO LAURA SMIAROWSKI- OFFICER 387,828 CLAIMS PAID   No
(5) LINDA GREGORY SPOUSE OF KEY EMPLOYEE 27,465 STAFF EMPLOYEE   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
Schedule L (Form 990 or 990-EZ) 2014

Additional Data


Software ID:  
Software Version:  




SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large imageComplete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
Right pointing arrow large imageInformation about Schedule M (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art .... X 49 2,143,695 APRAISL/DONOR EST.
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications .. X 208,388 APRAISL/DONOR EST.
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 290 8,414,606 AVERAGE DAILY VALUE
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		X 4 946,805 STATEMENT OF ACCOUNT
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( MISCELLANEOUS ) X 6 28,594 APRAISL/DONOR EST.
26 Other Right pointing arrow large image ( ARCHIVAL RECORD ) X 45 0 INDETERMINABLE VALUE
27 Other Right pointing arrow large image ( ARCHIVAL RECORD ) X 59 0 INDETERMINABLE VALUE
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...
29
22
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that
it must hold for at least three years from the date of the initial contribution, and which is not required to be used
for exempt purposes for the entire holding period? ..................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
 
No
b
If "Yes," describe in Part II.
33
If the organization did not report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2014)
Schedule M (Form 990) (2014)
Page 2
Part II
Supplemental Information. Provide the information required by Part I, lines 30b,
32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
PART I, LINE 26 THE COLLEGE ARCHIVES HISTORICALLY VALUABLE RECORDS OF THE INSTITUTION AND THE PERSONAL PAPERS OF SELECTED ADMINISTRATORS, FACULTY, STAFF, STUDENTS AND ALUMNAE. HISTORICAL VALUE ONLY. NO REVENUE RECOGNIZED.
PART I, LINE 27 THE SOPHIA SMITH COLLECTION AT SMITH COLLEGE IS AN INTERNATIONALLY RECOGNIZED REPOSITORY OF MANUSCRIPTS, ARCHIVES, PERIODICALS AND OTHER PRIMARY SOURCES IN WOMEN'S HISTORY. THE COLLECTIONS CONSIST OF APPROXIMATELY 592 COLLECTIONS DOCUMENTING THE HISTORICAL EXPERIENCE OF WOMEN IN THE UNITED STATES AND ABROAD FROM THE COLONIAL PERIOD TO THE PRESENT. SUBJECT STRENGTHS INCLUDE BIRTH CONTROL AND REPRODUCTIVE RIGHTS, WOMEN'S RIGHTS, SUFFRAGE, THE CONTEMPORARY WOMEN'S MOVEMENT ACROSS RACE, CLASS, AND SEXUAL ORIENTATION, US WOMEN WORKING ABROAD, THE ARTS (ESPECIALLY THEATRE), THE PROFESSIONS (ESPECIALLY JOURNALISM AND Social WORK), AND MIDDLE CLASS FAMILY LIFE IN 19th- AND 20th- CENTURY NEW ENGLAND. HISTORICAL VALUE ONLY. NO REVENUE RECOGNIZED.
Schedule M (Form 990) (2014)
Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Return Reference Explanation
ORGANIZATION'S MISSION AND VALUES Form 990, Part I, Line 1 and Part III, Line 1 *MISSION* SMITH COLLEGE EDUCATES WOMEN OF PROMISE FOR LIVES OF DISTINCTION. A COLLEGE OF AND FOR THE WORLD, SMITH LINKS THE POWER OF THE LIBERAL ARTS TO EXCELLENCE IN RESEARCH AND SCHOLARSHIP, DEVELOPING LEADERS FOR SOCIETY'S CHALLENGES. *VALUES* SMITH IS A COMMUNITY DEDICATED TO LEARNING, TEACHING, SCHOLARSHIP, DISCOVERY, CREATIVITY AND CRITICAL THOUGHT. SMITH IS COMMITTED TO ACCESS AND DIVERSITY, RECRUITING AND SUPPORTING TALENTED, AMBITIOUS WOMEN OF ALL BACKGROUNDS. SMITH EDUCATES WOMEN TO UNDERSTAND THE COMPLEXITY OF HUMAN HISTORY AND THE VARIETY OF THE WORLD'S CULTURES THROUGH ENGAGEMENT WITH SOCIAL, POLITICAL, AESTHETIC AND SCIENTIFIC ISSUES. SMITH PREPARES WOMEN TO FULFILL THEIR RESPONSIBILITIES TO THE LOCAL, NATIONAL AND GLOBAL COMMUNITIES IN WHICH THEY LIVE AND TO STEWARD THE RESOURCES THAT SUSTAIN THEM.
PROGRAM SERVICE ACCOMPLISHMENT #1 FORM 990, PART III, LINE 4A UNDERGRADUATE EDUCATIONAL PROGRAMS SERVING ~2,500 UNDERGRADUATES IN NORTHAMPTON AND 250 STUDYING ELSEWHERE. SMITH COLLEGE OFFERS 1,000 COURSES IN MORE THAN 50 AREAS OF STUDY. EACH YEAR NEARLY HALF OF SMITH COLLEGE JUNIORS STUDY ABROAD. SMITH'S PROGRAMS IN FLORENCE, GENEVA, HAMBURG AND PARIS COMBINE RIGOROUS ACADEMICS WITH THE EXPERIENCE OF LIVING IN ANOTHER COUNTRY AND DISCOVERING A NEW CULTURE. FOR EXTRACURRICULAR ACTIVITIES, THE COLLEGE HAS MORE THAN 100 CHARTERED STUDENT ORGANIZATIONS WITH A RANGE OF SERVICES & ACTIVITIES, 13 VARSITY SPORTS AND EXTENSIVE INTRAMURAL AND CLUB SPORTS PROGRAMS. THE CAMPUS SCHOOL (K TO 6) AND THE CENTER FOR EARLY CHILDHOOD EDUCATION SERVE AS LABORATORIES FOR THE DEPARTMENT OF EDUCATION & CHILD STUDY.
PROGRAM SERVICE ACCOMPLISHMENT #2 FORM 990, PART III, LINE 4B THE SCHOOL FOR SOCIAL WORK OFFERS A MASTER OF SOCIAL WORK (M.S.W.) DEGREE WHICH FOCUSES ON CLINICAL SOCIAL WORK AND EMPHASIZES DIRECT FIELD WORK PRACTICE. THE PROGRAM STRESSES THE INTEGRATION OF CLINICAL THEORY & PRACTICE WITH AN UNDERSTANDING OF THE SOCIAL CONTEXTS IN WHICH PEOPLE LIVE. IT ALSO EMPHASIZES AN UNDERSTANDING OF THE SOCIAL POLICIES AND ORGANIZATIONAL STRUCTURE THAT INFLUENCE OUR SERVICE DELIVERY SYSTEM. IN ADDITION, THE SCHOOL OFFERS A PH. D. PROGRAM DESIGNED TO PREPARE MSWS FOR LEADERSHIP POSITIONS IN CLINICAL RESEARCH, EDUCATION, AND PRACTICE. IT ALSO HAS EXTENSIVE POSTGRADUATE OFFERINGS THROUGH ITS CONTINUING EDUCATION PROGRAM.
PROGRAM SERVICE ACCOMPLISHMENT #3 FORM 990, PART III, LINE 4C GRADUATE EDUCATIONAL PROGRAMS OFFER WOMEN & MEN GRADUATE WORK LEADING TO THE DEGREES OF MASTER OF ARTS IN TEACHING (ELEMENTARY, MIDDLE OR HIGH SCHOOL), MASTER OF FINE ARTS, MASTER OF EDUCATION OF THE DEAF, MASTER OF SCIENCE IN BIOLOGICAL SCIENCES, AND MASTER OF SCIENCE IN EXERCISE AND SPORT STUDIES. IN SPECIAL ONE-YEAR PROGRAMS, INTERNATIONAL STUDENTS MAY QUALIFY FOR A CERTIFICATE OF GRADUATE STUDIES OR A DIPLOMA IN AMERICAN STUDIES. EACH YEAR ~100 MEN & WOMEN PURSUE SUCH ADVANCED WORK. INDIVIDUALS MAY ALSO ENROLL AS NON-DEGREE STUDENTS BY REGISTERING FOR ONE OR MORE COURSES. MOST GRADUATE COURSES ARE PLANNED FOR GRADUATE STUDENTS WHO ARE DEGREE CANDIDATES.
OTHER PROGRAM SERVICE ACCOMPLISHMENT FORM 990, PART III, LINE 4D PROFESSIONAL DEVELOPMENT AND SUMMER PROGRAMS: OUTREACH PROGRAMS EXTEND SMITH COLLEGE'S ACADEMIC AND CULTURAL RESOURCES TO THE BROADER COMMUNITY, BOTH LOCALLY AND NATIONALLY. THE COLLEGE OFFERS PROGRAMS FOR CHILDREN & THEIR FAMILIES, FROM PRE-SCHOOL THROUGH HIGH SCHOOL, AS WELL AS FOR EDUCATORS. SOME PROGRAMS HIGHLIGHT SMITH'S LEADERSHIP IN SCIENCE AND ENGINEERING EDUCATION. OTHERS REFLECT THE COLLEGE'S COMMITMENT TO CREATING OPPORTUNITIES FOR GIRLS AND YOUNG WOMEN. STILL OTHERS UTILIZE ITS WORLD-CLASS MUSEUM AND GARDENS, AS WELL AS OTHER RENOWNED CAMPUS RESOURCES. FACULTY ENGAGE IN SPONSORED AND COLLEGE FUNDED PROFESSIONAL DEVELOPMENT AND RESEARCH. SMITH EXECUTIVE EDUCATION FOR WOMEN: SMITH EXECUTIVE EDUCATION FOR WOMEN IS DESIGNED TO GROW WOMEN LEADERS. PARTICIPANTS IN SMITH'S EXECUTIVE EDUCATION PROGRAM BENEFIT FROM COURSES, SEMINARS & DISCUSSIONS THAT ARE CUSTOM-DESIGNED TO MEET THE NEEDS OF SPONSORING CORPORATIONS AND THE NEEDS OF INDIVIDUAL ATTENDEES. WORLD-CLASS FACULTY FROM MANY OF THE WORLD'S LEADING BUSINESS SCHOOLS AND CORPORATIONS ARE HAND-PICKED EACH YEAR TO TEACH IN SMITH'S EXECUTIVE EDUCATION PROGRAM, BASED ON CLASS MAKE-UP AND IDENTIFIED LEARNING OBJECTIVES. PARTICIPATION IN ANY SMITH EXECUTIVE EDUCATION PROGRAM GIVES PARTICIPANTS THE CHANCE TO NETWORK WITH THEIR PEERS FROM MANY OTHER COMPANIES, TO LEARN ABOUT OTHER INDUSTRIES, AND TO FORGE PROFESSIONAL RELATIONSHIPS AND FRIENDSHIPS WITH OTHER WOMEN PROFESSIONALS.
FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11A SMITH COLLEGE'S DRAFT FORM 990 WAS REVIEWED BY MEMBERS OF THE TRUSTEES OF SMITH COLLEGE, THE ACCOUNTING STAFF, MANAGEMENT, THE BOARD OF TRUSTEES' AUDIT COMMITTEE, AND THE COLLEGE'S PAID TAX PROFESSIONALS. AN ELECTRONIC COPY OF THE FINAL RETURN WAS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING.
CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND OFFICERS ARE FIDUCIARIES OF THE COLLEGE AND ARE EXPECTED TO AVOID CONFLICTS AND THE APPEARANCE OF CONFLICTS BETWEEN THEIR PERSONAL INTERESTS, THE INTERESTS OF THE COLLEGE AND EACH OTHER. A) TRUSTEES AND OFFICERS WHO BELIEVE THAT SHE OR HE OR ANY MEMBER OF HER OR HIS FAMILY MAY HAVE A CONFLICT OF INTEREST OR MAY APPEAR TO HAVE A CONFLICT OF INTEREST WITH RESPECT TO ANY PARTICULAR TRANSACTION SHALL PROMPTLY AND FULLY DISCLOSE THE CONFLICT TO THE PRESIDENT AND THE CHAIR OF THE BOARD OF TRUSTEES WHO SHALL TAKE APPROPRIATE ACTION. B)EACH TRUSTEE AND OFFICER SHALL FILE A FINANCIAL DISCLOSURE STATEMENT DETAILING CORPORATE AND OTHER OWNERSHIP INTERESTS AND BOARD MEMBERSHIPS BY THE TRUSTEE OR OFFICER AND HER OR HIS FAMILY MEMBERS AT LEAST ANNUALLY WITH THE SECRETARY OF THE BOARD. TRUSTEES AND OFFICERS HAVE AN AFFIRMATIVE OBLIGATION TO UPDATE THE FINANCIAL DISCLOSURE STATEMENTS AS THEY BECOME AWARE OF CHANGES IN THEIR FINANCIAL SITUATION. C)GENERAL TREATMENT OF DISCLOSURES: 1)ALL DISCLOSURES SHALL BE MADE KNOWN TO THE MEMBERS OF THE EXECUTIVE COMMITTEE WHICH SHALL DETERMINE WHAT ACTION, IF ANY, TO TAKE AND WHETHER FURTHER DISCLOSURE TO OTHER MEMBERS OF THE BOARD IS REQUIRED. 2) ALL INFORMATION CONCERNING ACTUAL OR POTENTIAL CONFLICTS OF INTEREST SHALL BE MAINTAINED BY THE SECRETARY OF THE COLLEGE AND DISCLOSED ONLY TO THE MEMBERS OF THE EXECUTIVE COMMITTEE AND, IF NECESSARY, MEMBERS OF THE AUDIT COMMITTEE AND CONSULTANTS INVOLVED IN THE COLLEGE'S AUDITING PROCESS. IN ADDITION, MEMBERS OF THE PRESIDENT'S SENIOR ADMINISTRATIVE TEAM WILL RECEIVE INFORMATION ABOUT DISCLOSURES ON A NEED TO KNOW BASIS. 3) THE SECRETARY OF THE BOARD ANNUALLY, AND AT OTHER TIMES ON REQUEST FROM ANY MEMBER OF THE BOARD, SHALL MAKE AVAILABLE TO THE MEMBERS OF THE BOARD COPIES OF THE CONFLICT OF INTEREST POLICY AND FORMS FOR DISCLOSING CONFLICTS. 4)EACH TRUSTEE AND EACH OFFICER SHALL COMPLETE AND FILE ANNUALLY, OR MORE OFTEN AS DETERMINED BY THE EXECUTIVE COMMITTEE, A CONFLICT OF INTEREST DISCLOSURE STATEMENT WITH THE SECRETARY OF THE BOARD OF TRUSTEES. 5) THE TRUSTEE OR OFFICER HAVING SUCH CONFLICT SHALL NOT VOTE AND SHALL NOT PARTICIPATE OR USE ANY PERSONAL INFLUENCE IN THE DISCUSSION OF THE SUBJECT OR MAKE ANY RECOMMENDATIONS REGARDING THE SUBJECT.
COMPENSATION POLICY FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR DUE DILIGENCE OF EXECUTIVE AND EMPLOYEE COMPENSATION TO ASSURE THAT ALL ASPECTS COMPLY WITH IRS REQUIREMENTS FOR NON-PROFIT COMPENSATION. THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION PACKAGE FOR THE PRESIDENT ANNUALLY, CONSIDERING COMPARISON INFORMATION AS WELL AS THE LEVEL OF SALARY INCREASES PROPOSED FOR FACULTY AND ADMINISTRATIVE STAFF. THE COMMITTEE OBTAINS AND RELIES ON THE FOLLOWING WRITTEN MATERIALS, PROVIDED IN ADVANCE OF THE MEETING: (1) HISTORICAL COMPENSATION FOR THE PRESIDENT, (2) YEARS OF SERVICE IN POSITION, AND (3) A MARKET STUDY OF COMPENSATION, BASED ON COMPARABLE DATA FROM 19 SELECTIVE LIBERAL ARTS COLLEGES. AFTER DISCUSSION, THE EXECUTIVE COMMITTEE APPROVES THE COMPENSATION FOR THE PRESIDENT. THE EXECUTIVE COMMITTEE AND THE PRESIDENT MEET TO DETERMINE THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES USING THE SAME CRITERIA. IN COMPLIANCE WITH THE REBUTTABLE PRESUMPTION STANDARDS, SMITH COLLEGE CONSIDERS GEOGRAPHIC LOCATION, ADMISSIONS OVERLAP, ENDOWMENT SIZE, AND ITS MARKET FOR EXECUTIVE LEVEL MANAGERS WHEN IDENTIFYING ITS COMPARABLE PEERS. FURTHERMORE, ALL EXECUTIVE COMMITTEE DECISIONS ARE DOCUMENTED CONCURRENTLY IN THE EXECUTIVE COMMITTEE BOARD MINUTES.
PUBLIC DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE AT WWW.SMITH.EDU. THE COLLEGE'S FORM 990, FORM PC AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE AT WWW.MASS.GOV/AGO. THE COLLEGE WILL PROVIDE PAPER COPIES OF THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORMS 990 AND 990-T UPON REQUEST.
OTHER CHANGES TO NET ASSETS Form 990, Part XI, Line 9 Change in Life Income Funds $(40,836) Other Changes $ 3,897 Total $(36,939)
REASON FOR AMENDED RETURN FORM 990, HEADER, SECTION B THE TRUSTEES OF THE SMITH COLLEGE IS AMENDING FORM 990 FOR FISCAL YEAR ENDED JUNE 30, 2015 TO REPORT ADDITIONAL INFORMATION ON SCHEDULE B, SCHEDULE OF CONTRIBUTORS, TO ADJUST SCHEDULE A, PART II, LINE 5 BASED ON ADDITIONAL SCHEDULE B INFORMATION, AND TO CORRECT CERTAIN COMPENSATION AMOUNTS REPORTED ON FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2014

Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990.
MediumBullet Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
The Trustees of The Smith College
 
Employer identification number

04-1843040
Part I
Identification of Disregarded Entities Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity










Part II
Identification of Related Tax-Exempt Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1) ALUMNAE ASSOCIATION OF SMITH COLLEGE
33 ELM STREET

NORTHAMPTON,MA01063
04-2103649 		ALUMNAE SERV MA 501(C)(3) 11(C) NA
 
 
No
(2) SMITH STUDENT AID SOCIETY INC
123-125 ELM STREET

NORTHAMPTON,MA01063
04-6052751 		STUDENT AID MA 501(C)(3) 11(C) NA
 
 
No
(3) ASSOCIATED KYOTO PROGRAM
10 ELM STR COLLEGE HALL 204

NORTHAMPTON,MA01063
04-2996114 		EDUCATION MA 501(C)(3) 11(C) NA
 
 
No








For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) CRUT (3)

 
 
INVESTING CA NA
  		Trust       Yes  
(2) TRUST (1)

 
 
INVESTING CA NA
  		Trust       Yes  
(3) CRUT (6)

 
 
INVESTING CT NA
  		Trust       Yes  
(4) TRUST (4)

 
 
INVESTING CT NA
  		Trust       Yes  
(5) CRUT (4)

 
 
INVESTING FL NA
  		Trust       Yes  
(6) TRUST (1)

 
 
INVESTING FL NA
  		Trust       Yes  
(7) CRAT (1)

 
 
INVESTING MA NA
  		Trust       Yes  
(8) CRUT (7)

 
 
INVESTING MA NA
  		Trust       Yes  
(9) PIF (2)

 
 
INVESTING MA NA
  		Trust       Yes  
(10) TRUST (12)

 
 
INVESTING MA NA
  		Trust       Yes  
(11) CRUT (2)

 
 
INVESTING MD NA
  		Trust       Yes  
(12) CRUT (1)

 
 
INVESTING ME NA
  		Trust       Yes  
(13) TRUST (1)

 
 
INVESTING MO NA
  		Trust       Yes  
(14) CRUT (3)

 
 
INVESTING NC NA
  		Trust       Yes  
(15) TRUST (1)

 
 
INVESTING IN NA
  		Trust       Yes  
(16) CRUT (1)

 
 
INVESTING NH NA
  		Trust       Yes  
(17) CRUT (2)

 
 
INVESTING NJ NA
  		Trust       Yes  
(18) TRUST (2)

 
 
INVESTING NJ NA
  		Trust       Yes  
(19) CRUT (13)

 
 
INVESTING NY NA
  		Trust       Yes  
(20) TRUST (7)

 
 
INVESTING NY NA
  		Trust       Yes  
(21) CRUT (1)

 
 
INVESTING OH NA
  		Trust       Yes  
(22) TRUST (1)

 
 
INVESTING OK NA
  		Trust       Yes  
(23) CRUT (1)

 
 
INVESTING PA NA
  		Trust       Yes  
(24) TRUST (1)

 
 
INVESTING RI NA
  		Trust       Yes  
(25) CRUT (4)

 
 
INVESTING TX NA
  		Trust       Yes  
(26) TRUST (4)

 
 
INVESTING TX NA
  		Trust       Yes  
(27) CRUT (1)

 
 
INVESTING VA NA
  		Trust       Yes  
(28) TRUST (3)

 
 
INVESTING VT NA
  		Trust       Yes  
(29) CURT (1)

 
 
INVESTING WA NA
  		Trust       Yes  
(30) TRUST (1)

 
 
INVESTING   NA
  		Trust       Yes  
Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 3
Part V
Transactions With Related Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
Yes
 
b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
 
No
c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
Yes
 
m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1m
Yes
 
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
 
No
p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
Yes
 
r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
 
No
s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1s
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) CRUT'S CRAT'S PIF'S PERPETUAL REMAINDER

 A(i) 673,697 PV
(2) TRUST

      




Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2014
Schedule R (Form 990) 2014
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R (see instructions).
Return Reference Explanation
Schedule R (Form 990) 2014
Additional Data


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