19-1105 v3.X Need-based Scholarship Alternative

Question

Swarthmore College awarded more than $43 million in need-based scholarship aid to 56% of its students for the 2018-19 academic year. Every year a substantial scholarship amount is provided by the college to its students as an investment in society for equity. We believe that this donation meets the intent of contributing to the public good in an amount more than commensurate with the project expense. Please refer to the financial aid information from the college. Please advise if this is alternative way to demonstrate equitable investment is applicable.

Answer

As a 501(c)3, Swarthmore College is exempt from the requirements of I17 Equitable Investment. See I17-E1 Exempt Organizations on page 20 of the May 2017 LBC 3.1 Equity Petal Handbook.

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