Harvey Mudd College FY2020 filing

Tax-deductible

Claremont, CA501(c)(3)Since 1955Colleges & UniversitiesEIN 95-1911219Revenue $92.2M in FY2020

On file with the IRShmc.edu301 Platt Blvd, 91711-5901 · Claremont, CATax-exempt since Sep 1958School — 170(b)(1)(A)(ii)

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HMC seeks to educate engineers, scientists, and mathematicians well versed in all of these areas and in the humanities, social sciences and the arts so that they may assume leadership in their fields with a clear understanding of the impact of their work on society.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$4.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $12.2M a year · 11% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$4.0M
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $288K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$80.0M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
42
of 43 voting members
Looks good: 42 of 43 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$92.2M
Spent
$93.7M
To programs
88%
Net assets
$450.4M
By yearFY2020–FY2025
Revenue
$92.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$92.2M
FY2021$77.7M
FY2022$135.4M
FY2023$122.0M
FY2024$120.1M
FY2025$130.3M
Expenses
$93.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$93.7M
FY2021$78.2M
FY2022$97.8M
FY2023$107.3M
FY2024$111.3M
FY2025$116.4M
Net assets
$450.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$450.4M
FY2021$575.9M
FY2022$541.7M
FY2023$556.9M
FY2024$598.7M
FY2025$643.2M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1958.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $82.8M Management & general 8% · $7.3M Fundraising 4% · $3.6M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

64 people listed on the 990; $4.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
President
$694,412Pt VII · Sec A
VP for Administration & Finance/Treasurer
$343,315Pt VII · Sec A
VP for Student Affairs/Dean of Students
$337,058Pt VII · Sec A
VP for Academic Affairs & Dean of Faculty
$244,850Pt VII · Sec A
Former VP for Advancement
$241,500Pt VII · Sec A
VP for Admission and Financial Aid
$232,877Pt VII · Sec A
Chief Information Off/VP of Comput & Info Serv
$225,953Pt VII · Sec A
Avp of Advancement for Dev & Const Prg
$215,909Pt VII · Sec A

Harriet B Nembhard’s $693K as President is at the 59th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Maria M Klawe——$754,008$691,218$675,818$694,412
Harriet B Nembhard$692,627$362,345————
Maria Klawe—$577,908————
Andrew R Dorantes - SR VP$447,496—————
Andrew Dorantes - Vpchief—$427,073————
Andrew Dorantes - VP Chief——$410,137$375,630$350,499—
Andrew Dorantes—————$343,315
Anna Gonzalez—————$337,058

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides a rigorous undergraduate liberal arts education specializing in math, science, and engineering, emphasizing interdisciplinary learning, collaborative research, and social responsibility.

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Provided by the organization

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1 program · $82.8M · in their own filed words · FY2019
01

All program services relate to undergraduate education, full time equivalent enrollment of approximately 900 students.

$82.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 5 funders →
Grants paid · 6 grants · $120.0M · 2019–2024
Unitemized GrantFY2024$22,516,634
Unitemized GrantFY2023$22,319,072
Unitemized GrantFY2022$21,577,266
Unitemized GrantFY2021$18,896,406
Unitemized GrantFY2020$13,972,626
Unitemized GrantFY2019$20,743,376

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$92.2M
Ln 12
Fees for servicesLn 2g$69.4M
Investment incomeLn 3$11.8M
Gifts and grantsLn 1h$10.8M
Money outPt IX
$93.7M
Ln 25
Programscol B$82.8M
Managementcol C$7.3M
Fundraisingcol D$3.6M
Owns and owesPt X
$450.4M
net assets · Ln 32
Cash and savingsLn 1–2$48.7M
Total assetsLn 16$530.4M
LiabilitiesLn 26$80.0M
PeoplePt VI, VII
64
listed · VII A
PaidVII A16
Voting boardVI 1a43
IndependentVI 1b42
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10.8M
Government grantsLn 1e$1.7M
Noncash giftsLn 1g$660K
Fees for servicesLn 2g$69.4M
Investment incomeLn 3$11.8M
Other incomeLn 4–11$98K
Gains on assetsLn 7$7.8M
Total revenueLn 12$92.2M
Assets in detailPt X, end of year
CashLn 1$1.6M
SavingsLn 2$47.1M
Cash and savings togetherLn 1–2$48.7M
InvestmentsLn 11–13$330.1M
Land, buildings, equipmentLn 10c$135.2M
Other assetsLn 15$0
Total assetsLn 16$530.4M
LiabilitiesLn 26$80.0M
Net assetsLn 32$450.4M
OperationsPt I, VI
EmployeesI 51,183
VolunteersI 6767
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$33.8M$48.7M
InvestmentsLn 11–13$336.4M$330.1M
Land, buildings, equipmentLn 10c$123.4M$135.2M
Total assetsLn 16$516.7M$530.4M
LiabilitiesLn 26$57.6M$80.0M
Net assetsLn 32$459.2M$450.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$20.7M$20.7M
Pay of current officers, directors and key staffLn 5$3.2M$1.9M$782K$579K
Pay of disqualified personsLn 6$392K$392K
Other salaries and wagesLn 7$29.7M$26.7M$1.4M$1.5M
Pension plan contributionsLn 8$3.2M$2.7M$165K$310K
Other employee benefitsLn 9$4.4M$3.7M$263K$422K
Payroll taxesLn 10$2.2M$1.8M$139K$220K
Legal feesLn 11b$122K$122K
Accounting feesLn 11c$167K$167K
Investment management feesLn 11f$960K$960K
Other fees for servicesLn 11g$2.4M$2.1M$189K$22K
Advertising and promotionLn 12$361K$283K$24K$55K
Office expensesLn 13$3.3M$2.8M$344K$95K
Information technologyLn 14$1.2M$876K$308K$38K
OccupancyLn 16$2.0M$1.8M$172K$41K
TravelLn 17$1.3M$1.1M$76K$107K
Conferences, conventions and meetingsLn 19$467K$368K$28K$71K
InterestLn 20$1.4M$1.4M$43K
Payments to affiliatesLn 21$363K$71K$281K$11K
Depreciation, depletion and amortizationLn 22$5.0M$4.9M$77K
InsuranceLn 23$255K$4K$252K
Other expenses (24a–d)Ln 24$10.2M$8.7M$1.5M$48K
All other expensesLn 24e$371K$331K$29K$12K
Total functional expensesLn 25$93.7M$82.8M$7.3M$3.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $130.3M$116.4M$13.9M$643.2M 990 PDF
FY2024 $120.1M$111.3M$8.9M$598.7M 990 PDF
FY2023 $122.0M$107.3M$14.8M$556.9M 990 PDF
FY2022 $135.4M$97.8M$37.6M$541.7M 990 PDF
FY2021 $77.7M$78.2M−$435K$575.9M 990 PDF
FY2020 Viewing $92.2M$93.7M−$1.5M$450.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $92,164,752 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,526,766$10,832,660
I-9 Program service revenuePrior year $69,353,647$69,411,207
I-10 Investment incomePrior year $13,650,823$11,822,822
I-11 Other revenuePrior year $475,098$98,063
I-12 Total revenuePrior year $97,006,334$92,164,752
I-13 Grants and similar amounts paidPrior year $19,911,125$20,743,376
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $42,289,496$43,056,620
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $30,743,116$29,885,747
I-18 Total expensesPrior year $92,943,737$93,685,743
I-19 Revenue less expensesPrior year $4,062,597−$1,520,991
Part VI · Governance 42 of 43 board members independent, no flags
VI-1a Voting members of the governing body43
VI-1b Independent voting members42
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $92,164,752 across 10 lines filed
Lines not itemized here account for $353,337 of total revenue; see the IRS return.
VIII-1e Government grants$1,707,447
VIII-1f All other contributions, gifts and grants$9,125,213
VIII-1g Noncash contributions (included above)$660,287
VIII-1h Total contributions, gifts and grants$10,832,660
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $69,057,978$69,057,978
VIII-3 Investment incomeExcluded from tax $4,034,334$4,034,334
VIII-5 RoyaltiesExcluded from tax $22,099$22,099
VIII-6 Net rental income or lossExcluded from tax $75,964$75,964
VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,788,380$7,788,380
VIII-12 Total revenueRelated to mission $69,411,207 · Unrelated business $0 · Excluded from tax $11,920,885$92,164,752
Part IX · Statement of functional expenses $93,685,743 across 23 lines filed
IX-2 Grants to domestic individualsPrograms $20,743,376$20,743,376
IX-5 Pay of current officers, directors and key staffPrograms $1,880,874 · Management $781,545 · Fundraising $579,109$3,241,528
IX-6 Pay of disqualified personsPrograms $392,097$392,097
IX-7 Other salaries and wagesPrograms $26,742,447 · Management $1,385,909 · Fundraising $1,547,097$29,675,453
IX-8 Pension plan contributionsPrograms $2,741,473 · Management $164,568 · Fundraising $310,347$3,216,388
IX-9 Other employee benefitsPrograms $3,670,919 · Management $263,248 · Fundraising $422,203$4,356,370
IX-10 Payroll taxesPrograms $1,815,820 · Management $138,510 · Fundraising $220,454$2,174,784
IX-11b Legal feesManagement $121,595$121,595
IX-11c Accounting feesManagement $166,768$166,768
IX-11f Investment management feesManagement $959,640$959,640
IX-11g Other fees for servicesPrograms $2,142,746 · Management $189,369 · Fundraising $22,059$2,354,174
IX-12 Advertising and promotionPrograms $282,627 · Management $23,603 · Fundraising $55,232$361,462
IX-13 Office expensesPrograms $2,837,920 · Management $343,605 · Fundraising $94,942$3,276,467
IX-14 Information technologyPrograms $876,207 · Management $308,236 · Fundraising $37,725$1,222,168
IX-16 OccupancyPrograms $1,787,190 · Management $172,485 · Fundraising $41,415$2,001,090
IX-17 TravelPrograms $1,097,146 · Management $75,824 · Fundraising $106,763$1,279,733
IX-19 Conferences, conventions and meetingsPrograms $367,967 · Management $28,014 · Fundraising $71,185$467,166
IX-20 InterestPrograms $1,395,719 · Management $42,604$1,438,323
IX-21 Payments to affiliatesPrograms $71,360 · Management $280,530 · Fundraising $11,120$363,010
IX-22 Depreciation, depletion and amortizationPrograms $4,923,125 · Management $77,187$5,000,312
IX-23 InsurancePrograms $3,645 · Management $251,512$255,157
IX-24 Other expenses (24a–d)Programs $8,673,949 · Management $1,525,548 · Fundraising $47,811$10,247,308
IX-24e All other expensesPrograms $330,522 · Management $29,096 · Fundraising $11,756$371,374
IX-25 Total functional expensesPrograms $82,777,129 · Management $7,329,396 · Fundraising $3,579,218$93,685,743
Part X · Balance sheet $530,392,219 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $790,355$1,550,027
X-2 Savings and temporary cash investmentsStart of year $33,033,495$47,116,608
X-3 Pledges and grants receivableStart of year $17,941,720$14,962,856
X-4 Accounts receivableStart of year $1,180,674$1,143,819
X-9 Prepaid expenses and deferred chargesStart of year $3,101,084$264,357
X-10c Land, buildings and equipment, netStart of year $123,427,904$135,222,780
X-11 Publicly traded securitiesStart of year $333,771,719$328,002,493
X-12 Other securitiesStart of year $161,013$19,655
X-13 Program-related investmentsStart of year $2,512,158$2,109,624
X-15 Other assetsStart of year $819,584$0
X-16 Total assetsStart of year $516,739,706$530,392,219
X-17 Accounts payable and accrued expensesStart of year $6,455,816$10,076,709
X-19 Deferred revenueStart of year $657,274$1,931,732
X-20 Tax-exempt bond liabilitiesStart of year $41,037,066$6,550,001
X-24 Unsecured notes and loans payableStart of year $0$52,831,123
X-25 Other liabilitiesStart of year $8,594,285$7,673,419
X-26 Total liabilitiesStart of year $57,581,118$79,952,350
X-27 Net assets without donor restrictionsStart of year $157,918,524$154,841,194
X-28 Net assets with donor restrictionsStart of year $301,240,064$295,598,675
X-32 Total net assets or fund balancesStart of year $459,158,588$450,439,869
X-33 Total liabilities and net assetsStart of year $516,739,706$530,392,219
Part XI · Reconciliation of net assets $450,439,869 net assets at year end
XI-1 Total revenue$92,164,752
XI-2 Total expenses$93,685,743
XI-3 Revenue less expenses−$1,520,991
XI-4 Net assets at start of year$459,158,588
XI-5 Net unrealized gains (losses) on investments−$5,763,976
XI-9 Other changes in net assets−$1,433,752
XI-10 Net assets at end of year$450,439,869

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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