| Harvard University | Doctor of Education |
| Drexel University | MBA Organization Development |
| BS Management | |
| Richmond University | Doctor of Education honoris causa |
| Philadelphia University | Doctor of Humane Letters |
| honoris causa | |
| Wagner College | Doctor of Humane Letters |
| honoris causa |
Smith is the 2018 recipient of the American Association of University Administrators Trachtenberg Award for Leadership in Higher Education. He has also been awarded the New York University presidential medal for distinction in higher education leadership. Other honors include the Salvation Army Man of the Year and the Snug Harbour Cultural Center (NYC) Neptune Award for contributions to art and culture in New York City.
His undergraduate alma mater, Drexel University, designated him, in 1991 on the occasion of its centennial, as an inaugural top 100 alumnus from among over 100,000 graduates and honored him again, in 2015, for professional career achievement.
Smith became President Emeritus of Wagner College in 2002 and was named President Emeritus of Elmira College in 2017.