THE TRUSTEES OF THE SMITH COLLEGE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1871

Legal Domicile

Principal Officer

KATHLEEN MCCARTNEY

Phone

4135852200

Tax Period

2022-07-01 to 2023-06-30

THE TRUSTEES OF THE SMITH COLLEGE, founded in 1871, is a major nonprofit in the Education sector that reported $587.5M in total revenue in fiscal year 2022. Revenue decreased 17% compared to the prior year. The organization ran a surplus of $201.8M, a strong 34% operating margin.

Mission

SMITH COLLEGE EDUCATES WOMEN OF PROMISE FOR LIVES OF DISTINCTION AND PURPOSE. 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.

Program Service Accomplishments

Program 1

Expenses: $276,074,468 Revenue: $197,131,889

*UNDERGRADUATE EDUCATIONAL PROGRAMS* PLEASE SEE SCHEDULE O FOR DETAIL

Program 2

Expenses: $14,939,058 Revenue: $10,667,284

*THE SCHOOL FOR SOCIAL WORK* PLEASE SEE SCHEDULE O FOR DETAIL

Program 3

Expenses: $4,679,985 Revenue: $3,341,759

*GRADUATE EDUCATIONAL PROGRAM* PLEASE SEE SCHEDULE O FOR DETAIL

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $67,936,846

Program Service Revenue $216,879,596

Investment Income $293,848,173

Other Revenue $8,823,207

TOTAL REVENUE $587,487,822

Expense Breakdown

Grants Paid $102,401,956

Salaries & Benefits $160,574,108

Fundraising Expenses $6,281,465

Program Expenses $314,569,837

Other Expenses $122,673,419

TOTAL EXPENSES $385,649,483

Year-over-Year Comparison

	2022	2021	Change
Revenue	$587,487,822	$711,163,748	-0.2%
Expenses	$385,649,483	$369,492,658	+0.0%
Net Income	$201,838,339	$341,671,090	-0.4%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

4306

Volunteers

6000

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$4,295,684

Total Directors

$1,467,176

Key Employees

$2,335,617

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LISA MARIE HOWIE	CHIEF INVESTMENT OFFICER	40.0	Officer	$1,501,647	$46,615	$1,548,262
KATHLEEN MCCARTNEY	PRESIDENT	40.0	Officer Director	$720,740	$746,436	$1,467,176
BETH B RAFFELD	VP FOR DEVELOPMENT	40.0	Key Emp	$489,307	$38,988	$528,295
DAVID C DESWERT	EVP FINANCE AND ADMINISTRATION	40.0	Officer	$398,331	$46,558	$444,889
MICHAEL T THURSTON	PROVOST & DEAN OF THE FACULTY	40.0	Officer	$289,110	$55,979	$345,089
LAURIE FENLASON	VP FOR PUBLIC AFFAIRS	40.0	Key Emp	$298,346	$45,493	$343,839
SAMANTHA S EARP	VP FOR IT	40.0	Key Emp	$286,100	$56,984	$343,084
CAROLINE THOMAS	DIRECTOR OF INVESTMENTS	40.0	Highest	$326,224	$10,221	$336,445
JAMES GRAY	AVP FACILITIES & OPERATIONS	40.0	Key Emp	$290,753	$44,369	$335,122
JULIA YAGER	VP OF COLLEGE RELATIONS & COMM	40.0	Highest	$285,229	$48,138	$333,367
MARIANNE RM YOSHIOKA	DEAN OF SSW	40.0	Highest	$279,445	$42,312	$321,757
BRIAN J DWYER	DIRECTOR OPERATIONS INVESTMENT	40.0	Highest	$291,354	$21,852	$313,206
JOANNA MAY	VP ENROLLMENT	40.0	Key Emp	$270,474	$41,980	$312,454
ANNE-MARIE SZMYT	AVP FOR HR	40.0	Highest	$251,713	$52,568	$304,281
BAISHAKHI TAYLOR	DEAN OF COLLEGE/VP CAMPUS LIFE	40.0	Key Emp	$226,041	$33,947	$259,988
ALEXANDRA L M KELLER	INTERIM DEAN/VP CAMPUS LIFE	40.0	Key Emp	$172,185	$40,650	$212,835
MATTHEW MOTYKA	ASSOC TREASURER & CONTROLLER	40.0	Officer	$142,011	$30,884	$172,895
ELENA J PALLADINO	SECRETARY	40.0	Officer	$131,218	$36,280	$167,498
JILLIAN MCGRATH	CONTROLLER	40.0	Officer	$143,230	$6,645	$149,875
ANU AIYENGAR	TRUSTEE	5.0	Director	$0	$0	$0
ANDREA AUERBACH	TRUSTEE	5.0	Director	$0	$0	$0
JOHAN AURIK	TRUSTEE	5.0	Director	$0	$0	$0
LISA BLACK	TRUSTEE	5.0	Director	$0	$0	$0
JANELLE BRADSHAW	TRUSTEE	5.0	Director	$0	$0	$0
MOLLY BURKE	TRUSTEE	5.0	Director	$0	$0	$0
FARAH CHAMPSI	TRUSTEE	5.0	Director	$0	$0	$0
MATTIE PETERSON COMPTON	TRUSTEE, VICE CHAIR	5.0	Director	$0	$0	$0
DENISE WHALEN CONWAY	TRUSTEE	5.0	Director	$0	$0	$0
PAMELA CRAIG	TRUSTEE	5.0	Director	$0	$0	$0
DEBORAH DECOTIS	TRUSTEE	5.0	Director	$0	$0	$0
LILE GIBBONS	TRUSTEE	5.0	Director	$0	$0	$0
ALICIA HAMMARSKJOLD	TRUSTEE	5.0	Director	$0	$0	$0
TERRY HARTLE	TRUSTEE	5.0	Director	$0	$0	$0
PEGGIE KOON	TRUSTEE	5.0	Director	$0	$0	$0
PEGGY LIU	TRUSTEE	5.0	Director	$0	$0	$0
CYNTHIA MEYN	TRUSTEE	5.0	Director	$0	$0	$0
SUSAN MAY MOLINEAUX	TRUSTEE, VICE CHAIR	5.0	Director	$0	$0	$0
BEVERLY MORGAN-WELCH	TRUSTEE	5.0	Director	$0	$0	$0
MOHSEN MOSTAFAVI	TRUSTEE	5.0	Director	$0	$0	$0
ALISON OVERSETH	TRUSTEE, CHAIR	5.0	Director	$0	$0	$0
DAVID OXTOBY	TRUSTEE	5.0	Director	$0	$0	$0
LYNN REICHENBACH	TRUSTEE	5.0	Director	$0	$0	$0
PATRICIA RIBAKOFF	TRUSTEE	5.0	Director	$0	$0	$0
CLAUDIA SAN PEDRO	TRUSTEE	5.0	Director	$0	$0	$0
KIMBERLY SCOTT	TRUSTEE	5.0	Director	$0	$0	$0
ANN SILVERMAN	TRUSTEE	5.0	Director	$0	$0	$0
SARAH STAPLETON	TRUSTEE	5.0	Director	$0	$0	$0
EMILY VAN AGTMAEL	TRUSTEE	5.0	Director	$0	$0	$0
DEBORAH WEINBERG	TRUSTEE	5.0	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$587,487,822	$385,649,483	$3,615,699,490	$201,838,339
2022	$711,163,748	$369,492,658	$3,540,762,539	$341,671,090
2021	$481,505,110	$292,369,130	$3,541,477,640	$189,135,980
2020	$394,570,320	$330,171,482	$2,711,572,123	$64,398,838
2019	$371,877,770	$326,787,282	$2,713,474,433	$45,090,488
2018	$405,729,447	$315,774,195	$2,647,449,522	$89,955,252