As noted in the Friends' Intelligencer, Philadelphia,
November 15, 1862: "Having met with those from Baltimore, and expressed
unity in supporting the project, a notice that 'We are requested to
announce to all interested, that the meeting of the Friends' Union Boarding
School Association will be held on the 2d day of the Twelfth mo, 1862,
at 3 o'clock, p.m. at Race Street Meeting House. At this time all who
have subscribed to the fund, and who are consequently members of this
Association, are invited to be present and participate in the adoption
of the Constitution and the election of Managers.'"
In the same issue, December 13, 1862: "a report
of the meeting FUSBA held "on 2nd instant 12th mo. 1862 (December
2, 1862) the first general meeting was held of the subscribers to the
School fund which is being raised within the limits of the three Yearly
Meetings of New York, Philadelphia and Baltimore. The Constitution,
prepared by Friends from New York and Philadelphia, was revised and
proposed for adoption with some amendments: the name Friends Educational
Association was readily adopted and discussion took place about the
election of the Board of Managers.
The joint committee of the Baltimore, Philadelphia and
New York Yearly Meetings raised funds through individual subscriptions;
members subscribed $5.00 per $25.00 share to raise $75,000 to support
the Friends Union Boarding School Association. Those members automatically
became members of the Friends Educational Association. A Board of Managers,
with an equal number of men and women members, was elected.
On April 1, 1864, "An Act of Incorporation of Swarthmore
College" was granted by the Pennsylvania State Legislature, thus
establishing the new corporation of Swarthmore College. The transfer
of all shares of stock in the Friends Educational Association was accomplished
and members of the Friends Educational Association became part of the
new corporation of Swarthmore College.