This page contains the files that I requested from the Friends Historical Library concerning divestment. I was able to access some of them, but many were restricted. I was told that all of the restricted documents were sealed for 50 years after their publication.
This correspondence contains identifying information about College administrators. I have chosen to redact such information. The administrators are referred to as “admin A” and “admin B.”
Email Text
Date: October 4, 2020
Subject: Swarthmore Investment Objectives and Policies
From: Daniel Fernandez
To: [admin B]
Text:
Dear [admin B], I am interested in learning more about Swarthmore’s investment policies. Do you know how I can find a copy of the College’s “Statement of Investment Objectives and Policies?”
Thank you,
— Daniel Abel Fernandez. Swarthmore ’23. Pronouns: he/him/his
Date: October 5, 2020
Subject: re: Swarthmore Investment Objectives and Policies
From: [admin B]
To: Daniel Fernandez
Text:
Dear Daniel, Thanks for reaching out to me with your questions regarding the College’s investment policies. The policy statement is not a public document, so I’m unable to share it with you. However, most of what you’re requesting can be found within two documents on the Finance & Investment page of the College’s website. In particular, I draw your attention to footnote 3 of the College’s financial statements for June 30, 2019 (https://www.swarthmore.edu/sites/default/files/assets/documents/finance-and-investment-office/Swarthmore%20College%202019%20Financial%20statements_Final.pdf) and also to the Swarthmore College Endowment Report (https://www.swarthmore.edu/sites/default/files/assets/documents/finance-and-investment-office/Endowment%20Report%20FY%202019%20FINAL.pdf). These two documents provide an overview of the investment objectives, historical spending over time, and the general guidelines for the endowment and similar funds. Both reports are based on the audited financial statements from June 30, 2019. The FY 2020 audit should be finalized early this week, so we’ll post it as soon as we have a final sign-off from our external auditors. . The endowment report will be updated later this year, most likely in December. I hope this is helpful and is as responsive as possible to your questions. Best, [admin B]
Date: October 5, 2020
Subject: re: Swarthmore Investment Objectives and Policies
From: Daniel Fernandez
To: [admin B]
Text:
Dear [admin B], Thanks for your response, These documents are helpful, but I’m also looking for one that mentions the College’s divestment policy. I’ve seen this line but I was wondering where it came from: “Investment Committee manages the endowment to yield the best long term financial results, rather than to pursue other social objectives.” Is that available? Best,
Date: October 5, 2020
Subject: re: Swarthmore Investment Objectives and Policies
From: [admin A]
To: Daniel Fernandez
Text:
Dear Daniel, [admin B] shared your note with me since your subsequent question is one about Board policy and communication — and my role as [a certain administrator] includes tracking such things. It’s clear that you have been doing your research on this, so please pardon me if I’m sending you things you’ve already seen before — but since this is a question the Board has considered multiple times over the period of many years, I wanted to share with you several open communications from the Board of Managers on the question of divestment and on the College’s commitment to addressing the climate crisis. September 2013, from former Chair Gil Kemp: https://www.swarthmore.edu/board-managers/open-letter-divestment
As you will see from these messages, the Board has devoted significant time and attention to these important questions over many years. The Board has tried to communicate as broadly as possible, given the significant interest in these matters, and these are just some of the various messages.
I hope this is helpful. If it would be useful to discuss generally how the Board works, where different decisions are made, etc., I’d be happy to chat by Zoom. Best, [admin A]
Date: October 5, 2020
Subject: re: Swarthmore Investment Objectives and Policies
From: Daniel Fernandez
To: [admin A]
Text:
Dear [admin A], I’ve read these communications and I understand the Board has refused to consider divestment on several occasions. My question really is just about access to information. I reached out to [admin B] about accessing the College’s investment policy and we’ve already corresponded about Board documents. If communication between the Board and the community is going to be open and not one-sided then shouldn’t community members have access to key information? It seems reasonable to me that, at the very least, the community should be able to see the policy the Board routinely cites as prohibiting them from considering divestment.
This correspondence contains identifying information about College staff and administrators. I have chosen to redact such information. The administrator is referred to as “admin A” and the staff member, a Swarthmore librarian, is referred to as “Librarian.”
The correspondence refers to several documents that I requested from the Friends Historical Library which were marked as “restricted.” I have included a list of those documents here.
Email Text
Date: September 28,2020
Subject: Permissions for restricted documents in Friend’s Library
To: [admin A]
From: Daniel Fernandez
Text:
Dear [admin A], I have been trying to access some documents in the Friend’s Historical Library concerning divestment but have run into some issues with permissions. Could you help me understand why some of these documents are restricted and under what circumstances they could be accessed? Thank you, Daniel Abel Fernandez. Swarthmore ’23. Pronouns: he/him/his
Date: September 29, 2020
Subject: re: Permissions for restricted documents in Friend’s Library
From: [admin A]
To: Daniel Fernandez
Text:
Dear Daniel,
Thanks for your email. [Librarian] let me know about your requests. Board documents and Presidential papers contain private materials — including information related to College employees, alumni, and others. Our practice is to keep files closed for at least 50 years to protect the privacy of such individuals.
After 50 years, and generally assessing whether individuals referenced in the materials might still be living even after that 50-year period, we routinely grant permission to specific documents within the collection that relate to various research projects.
Sincerely, [admin A]
Date: September 29, 2020
Subject: re: Permissions for restricted documents in Friend’s Library
From: Daniel Fernandez
To: [admin A]
Text:
Dear [admin A], I’m just confused because not all of the documents are marked as sealed. For example, in the Theodore Friend Papers, some of them are sealed but others only require permission:”Series 1 and 2 of the Theodore Friend Papers are closed to research until 2057. Series 3, 4, and 5 are restricted and require the permission of the President of Swarthmore College or the Chairman of the Board of Managers of the College. Contact the repository for details.” Do you know why that is?
Date: September 29, 2020
Subject: re: Permissions for restricted documents in Friend’s Library
From: [admin A]
To: Daniel Fernandez
Text:
Daniel, I don’t know the background on why there’s a more specific restriction on some of President Friend’s papers. This is pure speculation, but President Friend may have specified that date when he shared certain papers with us. If, for instance, there were personal correspondence or other personal papers, he may have requested something specific. We would, of course, honor that — but in the case of other Board or Presidential document, absent more restrictive guidance, we use 50 years.
[admin A]
Date: September 30, 2020
Subject: re: Permissions for restricted documents in Friend’s Library
From: Daniel Fernandez
To: [admin A]
Text:
Dear [admin A], Would it be possible to redact personal content from some documents and then allow access to them?
-Daniel
Date: October 1, 2020
Subject: re: Permissions for restricted documents in Friend’s Library
From: [admin A]
To: Daniel Fernandez
Text:
Hi, Daniel, No, that is not an option. I’m not sure what information you’re looking for, but I assume you’ve looked at editions of the Phoenix from that time period. [Librarian] might have insights into other resources that might be available. When I was an undergrad doing research on early queer movements at [a college], I was delightedly surprised to learn that those those early student groups from the 1970s had turned over all sorts of files and other items to university archives — and they were incredibly valuable. Again, [Librarian and colleagues] would be most helpful in thinking about what information might be there, if you haven’t already discussed. [admin A]
Date: October 1, 2020
Subject: re: Permissions for restricted documents in Friend’s Library
From: Daniel Fernandez
To: [admin A]
Text:
Hi [admin A], I find it concerning that the College will not allow access to any recent documents regarding the Board. How can the Swarthmore community hold the Board, the governing body, accountable if it does not know what the Board is up to? Not only are Board documents closed, but Board meetings are also closed.
Date: October 1, 2020
Subject: re: Permissions for restricted documents in Friend’s Library
From: [admin A]
To: Daniel Fernandez
Text:
Daniel, You may wish to consult with the student observers, who at least in recent memory have been the president and vice president of SGO. I don’t know if/how they report out after the Board meetings.
