2025-04-16T18:19:05-05:00 2024-06-30 910189318 Moss Adams LLP 21700 Oxnard St Ste 300 Woodland Hills CA 91367 990 2023-07-01 951911219 Harvey Mudd College HARV 9096218043 301 Platt Boulevard Claremont CA 91711 Mia Alonzo Assistant VP/Controller 9096218043 2025-04-14 1 0 Lauren A Haverlock P00545829 8185771900 2025-04-14 2023 2025-03-06 01:10:19Z Harriet B Nembhard 301 Platt Boulevard Claremont CA 91711 226893483 0 X www.hmc.edu X 1955 CA HMC is one of the premier math, science and engineering liberal arts colleges in the nation. 41 40 1210 569 0 0 22008888 13469930 78547577 84094395 21389985 22520207 66979 64139 122013429 120148671 21577266 22451494 0 0 47958681 50156370 0 0 5238890 37725188 38649740 107261135 111257604 14752294 8891067 634073455 675267142 77219631 76546131 556853824 598721011 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. 0 0 96125691 22451494 84094395 Harvey Mudd College (the College) is a private, liberal arts college of engineering, science, and mathematics that provides an undergraduate education with full time equivalent enrollment of approximately 900 students. The College offers a challenging and invigorating academic environment, where undergraduates learn to think across disciplines, participate in collaborative, professional research with high-profile sponsors, understand the social implications of science and learn to communicate their ideas. 96125691 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 0 1 0 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 1275 0 1 1210 1 0 0 0 0 0 0 0 0 0 0 0 1 X 41 40 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Mia Alonzo 9096218043 101 S Mills Ave Claremont CA 91711 Harriet B Nembhard President 50.00 1.00 X X 362345 0 96342 James C Bean Chair of the Board 1.00 1.00 X X 0 0 0 Laura A Larson Vice Chair of the Board 1.00 0.00 X X 0 0 0 Michael P Schubmehl Vice Chair of the Board 1.00 0.00 X X 0 0 0 John Benediktsson Trustee 1.00 0.00 X 0 0 0 Justin Christian Trustee 1.00 0.00 X 0 0 0 Doo Chung Trustee 1.00 0.00 X 0 0 0 Pat Copeland Trustee 1.00 0.00 X 0 0 0 Michael Curtis Trustee 1.00 0.00 X 0 0 0 Bruce L DePriester Trustee 1.00 0.00 X 0 0 0 Howard C Deshong III Trustee 1.00 0.00 X 0 0 0 Jason Fennell Trustee 1.00 0.00 X 0 0 0 Matthew Ferri Trustee 1.00 0.00 X 0 0 0 Kathleen Fisher Trustee 1.00 0.00 X 0 0 0 Scott Fraser Trustee 1.00 0.00 X 0 0 0 Kacyn Fujii Trustee 1.00 0.00 X 0 0 0 Laurie Girand Trustee 1.00 0.00 X 0 0 0 Murray Goldberg Trustee 1.00 0.00 X 0 0 0 Robert Gould Trustee 1.00 0.00 X 0 0 0 Shamit Grover Trustee 1.00 0.00 X 0 0 0 Mar Hershenson Trustee 1.00 0.00 X 0 0 0 Dylan Hixon Trustee 1.00 0.00 X 0 0 0 Robert Hulse Trustee 1.00 0.00 X 0 0 0 Albert Lee Trustee 1.00 0.00 X 0 0 0 Allan Leinwand Trustee 1.00 0.00 X 0 0 0 Tony Li Trustee 1.00 0.00 X 0 0 0 Curtis Mewbourne Trustee 1.00 0.00 X 0 0 0 Tyler Mingst Trustee 1.00 0.00 X 0 0 0 Karen Morrison Trustee 1.00 0.00 X 0 0 0 Justin Peterson Trustee 1.00 0.00 X 0 0 0 Autumn Preskill Trustee 1.00 0.00 X 0 0 0 Gregory Rae Trustee 1.00 0.00 X 0 0 0 Amyn Rajan Trustee 1.00 0.00 X 0 0 0 Sunil Rajasekar Trustee 1.00 0.00 X 0 0 0 Murray Rode Trustee 1.00 0.00 X 0 0 0 Jessica Skon Trustee 1.00 0.00 X 0 0 0 Yvonne Wassenaar Trustee 1.00 0.00 X 0 0 0 Michael G Wilson Trustee 1.00 0.00 X 0 0 0 Terence Wong Trustee 1.00 0.00 X 0 0 0 Bruce Worster Trustee 1.00 0.00 X 0 0 0 Lindsay Wray Trustee 1.00 0.00 X 0 0 0 Andrew Dorantes - VPChief Operating Officer & Treasurer 50.00 2.00 X 427073 0 65774 Hieu Nguyen VP for Advancement 50.00 0.00 X 336296 0 80799 Tom Donnelly - VP for Academic Affairs & Dean of Faculty 50.00 0.00 X 276454 0 75110 Thyra Briggs VP for Admissions and Financial Aid 50.00 0.00 X 261586 0 51998 Timothy Hussey - Chief Communic Officer & Asst Sec to Board 50.00 0.00 X 190990 0 56596 Mia Alonzo Asst VP/Controller 4.00 20.00 X 0 189001 46238 Karen Angemi Chief of Staff & Secretary to Board 50.00 0.00 X 148994 0 60750 Maria Klawe Former President 50.00 1.00 X 577908 0 89210 Joseph Vaughan - Chief Infomat Officer & VP of Comp and Info Servic 50.00 0.00 X 261894 0 59059 Kimberly Stafford Interim VP for Advancement 40.00 0.00 X 208628 0 81934 Marco Valenzuela - VP Student Affairs & Dean of Students 40.00 0.00 X 212499 0 18501 Zachary Dodds Faculty 40.00 0.00 X 234767 0 84668 Haydee Lindo Faculty 40.00 0.00 X 234164 0 37181 Matthew Spencer Faculty 40.00 0.00 X 231127 0 39005 Alfonso Castro Faculty 40.00 0.00 X 205057 0 56334 Jamie Haddock Faculty 40.00 0.00 X 224867 0 27900 4394649 189001 1027399 133 0 1 0 Sodexo Inc 1000 El Camino Real Atherton CA 94027 Food Service 2799336 Tovey Shultz Construction Inc 18261 Collier Avenue Unit A Lake Elsinore CA 92530 Construction 2406867 Rey-Crest Roofing & Waterproofing Co 3065 Verdugo Road Los Angeles CA 90065 Roofing, construction 682264 Thermal Concepts Inc 13933 Sycamore Way Chino CA 91710 Repair onsite 286064 Prontto Electric 393 West Street Upland CA 91786 Electrical repair onsite 235183 17 983248 12486682 928616 13469930 Tuition, Room & Board 611600 78127275 78127275 Fed Grants & Contracts 611600 3582041 3582041 Private Contracts 611600 1638953 1638953 Conferences & Other Program Servi 611600 390112 390112 Other Program Revenue 611600 356014 356014 84094395 7807837 7807837 1172 1172 62967 0 62967 62967 62967 121457182 106744607 205 14712575 -205 14712370 14712370 120148671 84094395 0 22584346 22319072 22319072 132422 132422 3754897 2037449 972889 744559 275697 275697 34121517 30162541 1473210 2485766 3696583 3234322 172805 289456 5698609 4928321 302271 468017 2609067 2216617 162650 229800 118208 118208 178334 178334 1266251 1266251 3002335 2737004 201703 63628 544241 194310 248275 101656 4739576 4327521 198455 213600 1409649 832871 469917 106861 3267075 2902854 288323 75898 1624956 1463665 59397 101894 765307 446461 55751 263095 1852094 1816468 35626 1109845 155871 941514 12460 6130203 6013882 115303 1018 579054 921 578133 Related Organizations a 8868638 7118188 1740627 9823 Building Repair 1739506 1579093 130694 29719 Noncapitalized Equipmen 859781 751322 96640 11819 Food & Housing 282931 282931 311756 195888 86047 29821 111257604 96125691 9893023 5238890 258461 456307 50128678 44118087 14489938 16203013 1048046 2310573 465306 358411 245329991 98630162 149550318 146699829 9280452 10262405 407804008 453837070 1048248 850143 0 171304 634073455 675267142 7869326 8886581 862297 679128 12369212 12080554 758153 367341 49371405 48073221 5989238 6459306 77219631 76546131 X 193363077 201273877 363490747 397447134 556853824 598721011 634073455 675267142 X 8891067 31989910 986210 X 0 1 X 1 1 1 X 10792726 13175141 15609308 22008888 13469930 75055993 10792726 13175141 15609308 22008888 13469930 75055993 12257547 62798446 4132505 4869512 5649961 7126412 7871976 29650366 104706359 360493624 0.59980 0.61030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 422771795 10231969 48483268 3539557 13991919 463955556 407297564 13640710 18396835 3315372 13247942 422771795 444484175 10209787 -31436857 3206978 12752563 407297564 321389453 3930891 134836315 3059939 12612545 444484175 330509442 1918750 4569257 3017900 12590096 321389453 0.19160 0.41940 0.38900 0 1 1 12913951 12913951 642600 211699576 81411438 130930738 3454883 3245930 208953 15403814 13972794 1431020 1215167 1215167 146699829 Pooled investments held at Claremont Investment Fund 453837070 F 453837070 Annuities Payable 3928096 Asset Retirement Obligation 1676381 Government Advances/Student Loans 683518 Financing Lease Obligations 171311 6459306 129407046 31989910 986210 32976120 96430926 1266251 22451494 23717745 120148671 87539859 0 87539859 1266251 22451494 23717745 111257604 Part IV, Line 2b: Funds held in trust for others totaled approximately $367,000 and $758,000 at June 30, 2024 and June 30, 2023, respectively. These amounts represent other Claremont College funds and third-party remainder interests held in trust by the College. Part V, Line 4: Perpetual endowments are subject to the restrictions of gift instruments requiring in perpetuity that the principal be invested and the income only be utilized as provided under the California Uniform Prudent Management of Institutional Funds Act (UPMIFA). While funds have been established by the Board of Trustees to function as endowment, any portion of such funds may be expended. Part XI, Line 2d - Other Adjustments: Actuarial Adjustment 986,210. Part XI, Line 4b - Other Adjustments: Student Financial Aid 22,451,494. Part XII, Line 4b - Other Adjustments: Student Financial Aid 22,451,494. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The racially nondiscriminatory policy is stated in brochures, the College catalog, and is available on the College's website. The full nondiscriminatory policy was not present on the homepage of the College's website throughout the entire tax year, but this oversight has been remedied and the policy now appears on the homepage. Schedule E, Part I, Line 6 Harvey Mudd College participates in the Pell grant, Supplemental Educational Opportunity Grant, College Work-Study, and Perkins Loan programs. 1 Central America and the Caribbean 0 0 Program services Education Instruction 5284 East Asia and the Pacific 0 0 Program Services Education Instruction 202283 Europe (Including Iceland & Greenland) 0 0 Program Services Education Instruction 506478 North America 1 0 Program Services Education Instruction/Consulting 101594 South America 0 0 Program Services Education Instruction 1822 Sub-Saharan Africa 0 0 Program services Education Instruction 4563 East Asia and the Pacific 0 0 Grants to recipients located in region 64462 Europe (Including Iceland & Greenland) 0 0 Grants to recipients located in region 35036 North America 0 0 Grants to recipients located in region 32924 1 0 0 0 1 0 921522 32924 954446 Financial aid East Asia and the Pacific 3 64462 Application against student account Financial aid Europe (Including Iceland & Greenland) 3 35036 Application against student account Financial aid North America 1 32924 Application against student account 0 0 0 0 0 1 Part I, Line 2: The use of grant funds is monitored through the student financial aid and billing process. Part I, line 3: Accrual method Part III, Col (c): Estimated recipients are determined from student records. 1 Student Financial Aid 548 22319072 0 Part I, Line 2: The use of grant funds is monitored through the student financial aid and billing process. X X X X X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 Maria Klawe Former President 553175 0 0 0 24733 0 39600 0 49610 0 667118 0 0 0 Andrew Dorantes - VPChief Operating Officer & Treasurer 427073 0 0 0 0 0 39600 0 26174 0 492847 0 0 0 Harriet B Nembhard President 300000 0 0 0 62345 0 36000 0 60342 0 458687 0 0 0 Hieu Nguyen VP for Advancement 336296 0 0 0 0 0 39600 0 41199 0 417095 0 0 0 Tom Donnelly - VP for Academic Affairs & Dean of Faculty 276454 0 0 0 0 0 34800 0 40310 0 351564 0 0 0 Joseph Vaughan - Chief Infomat Officer & VP of Comp and Info Servic 261894 0 0 0 0 0 32568 0 26491 0 320953 0 0 0 Zachary Dodds Faculty 234767 0 0 0 0 0 29294 0 55374 0 319435 0 0 0 Thyra Briggs VP for Admissions and Financial Aid 261586 0 0 0 0 0 32130 0 19868 0 313584 0 0 0 Kimberly Stafford Interim VP for Advancement 208628 0 0 0 0 0 26242 0 55692 0 290562 0 0 0 Haydee Lindo Faculty 166284 0 256 0 67624 0 20364 0 16817 0 271345 0 0 0 Matthew Spencer Faculty 123655 0 0 0 107472 0 25857 0 13148 0 270132 0 0 0 Alfonso Castro Faculty 205057 0 0 0 0 0 25449 0 30885 0 261391 0 0 0 Jamie Haddock Faculty 163604 0 88 0 61175 0 19733 0 8167 0 252767 0 0 0 Timothy Hussey - Chief Communic Officer & Asst Sec to Board 190990 0 0 0 0 0 23472 0 33124 0 247586 0 0 0 Mia Alonzo Asst VP/Controller 0 189001 0 0 0 0 0 20237 0 26001 0 235239 0 0 Marco Valenzuela - VP Student Affairs & Dean of Students 98477 0 0 0 114022 0 14305 0 4196 0 231000 0 0 0 Karen Angemi Chief of Staff & Secretary to Board 148994 0 0 0 0 0 18720 0 42030 0 209744 0 0 0 Part I, Line 1a - First Class Travel - The President is authorized to travel in business/first class when flying on Harvey Mudd College (HMC) business. - Travel for companions - With prior approval from the Chairman of the Board of Trustees, HMC paid for bona fide business related travel expenses for the President's spouse, who is also an employee of HMC. There was no travel during the tax year. - Housing allowance or residence for personal use - The Institution provided lodging for the President and family in Institution owned property as a condition of employment and for the convenience of the employer. - Personal services - The Institution provided cleaning services to the President's house as maintenance of a campus-owned building, which is used for institutional events as well as being the personal residence of the President and family. HMC also paid for phone and cable service to this campus building. The benefits listed above were not included in taxable compensation. -Tax indemnification and gross-up payments - The Institution reimbursed dependent tuition expenses to the President as a gross-up payment during the year. -Discretionary spending account - The Institution provided an auto allowance to the President. The allowance was included in taxable compensation. - Housing allowance - The Institution provided a housing allowance and housing downpayment assistance for three employees that was included in taxable compensation. Part I, Line 4a Marco Valenzuela received a severance payment of $87,500. Details will be made available to the IRS upon request. A California Municipal Finance Authority 201563466 000000000 2019-02-28 12967500 See Part VI 0 0 0 A 919446 12967500 17501 12949999 2021 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 Schedule K, Supplemental Information: Part I, Column (f), Line C: For the purpose of financing the acquisitions, construction, improvement, renovation and equipping of certain educational facilities. David Nembhard Family member of officer H. Nembhard 275697 Employment compensation 0 X 54 928613 FMV X Equipment - Xilinx Electronic Board for Clinic Project 1 1 FMV X Summer Welcome Reception Catering 1 1 FMV X Equipment - Pendulum Impact Tester 1 1 FMV 0 1 0 Part I, Column (b): The College is reporting the number of contributors in column (b). Form 990, Part VI, Section A, line 1a The Executive Committee is composed of the Chair of the Board, the Chair and Vice Chairs, if any, of the Executive Committee, all Vice Chairs of the Board; the Chairs of all Standing Committees; and the President of the College. Subject to Section 2 of Article IV, the Chair of the Board, after consultation with the President, the Chair of the Executive Committee, the Vice Chair(s) of the Board, and the Chair and Vice Chair of the Board Affairs Committee, may appoint members at large of the Executive Committee. Subject to limitations contained in California Corporations Code Section 5212(a) and additional limitations contained in the Harvey Mudd College Bylaws, when the Harvey Mudd College Board of Trustees is not in session, the Executive Committee has the authority of the Board of Trustees. Form 990, Part VI, Section B, line 11b HMC utilizes a process for review of the IRS Form 990 Return of Organization Exempt from Income Tax that involves multiple layers of management as well as governing board members. HMC has engaged an outside accounting firm to prepare the Form 990 using information provided by the Office of Financial Services, Office of Financial Affairs, and the Office of Human Resources, and changes are made as needed. Once a revised draft is available, it is reviewed by the Controller, Senior Director of Finance and Budget, Assistant Treasurer and Financial Analyst, and the Vice President, Chief Operating Officer, and Treasurer. After this review and any resulting changes are complete, the revised draft is provided to members of the HMC Audit Committee for questions and comments. Once questions and comments from the Audit Committee are fielded and issues resolved, the Audit Committee accepts the Form 990, and the Form 990 is provided to all voting members of the Board of Trustees prior to filing. Form 990, Part VI, Section B, line 12c Conflict of Interest Policy Compliance: STAFF: College employees who are directly or indirectly involved in purchasing or other financial transactions involving the College are required, on an annual basis, to complete and submit a Conflict of Interest Staff Disclosure Form for his or her supervisor's review. SUPERVISORS: - On an annual basis, supervisors review the policies related to Conflict of Interest and specifically Purchasing and Contracts, Gifts and Gratuities, Employment of Relatives, and Consulting and Outside Activities with all staff who report to them; - obtain and review disclosure forms from those who are required to complete them for possible conflicts; - review forms for completeness and, where necessary, take any follow up action that is appropriate. If there is a conflict of interest or the appearance of one, the supervisor reviews the disclosure form with the staff member and/or refers the situation to the appropriate Cabinet Member. If the situation warrants, the Cabinet Member will confer with the Human Resources Office. OFFICERS/BOARD OF TRUSTEES: Each trustee and officer annually completes and executes a Declaration, which affirms that such person has received a copy of the Conflict of Interest Policy, has read and understands the Policy, and has agreed to comply with the Policy. Annual Declarations are submitted to the Secretary of the Board of Trustees, who compiles the data and reports the results to the Board Executive Committee through the Audit Committee. A trustee or officer discloses through the Declaration form the existence of any financial or other interest, which could give rise to a conflict of interest. Disclosures of actual or potential conflicts of interest made by any trustee are referred to the Board Executive Committee (Committee). Any action taken by the Committee regarding conflicts of interest requires approval by the Board of Trustees. Disclosure of actual or potential conflicts of interest by any officer (who is not a trustee) is delegated to the President of the College, who reviews the final determination with the Chair of the Board of Trustees before any action is taken. Trustees recuse themselves on votes if there is a conflict of interest. Form 990, Part VI, Section B, line 15 The Trustee Compensation Committee utilizes benchmark salary data from comparable higher education institution groups for the executive management positions of President, Vice Presidents, officers, key employees, and disqualified individuals. Compensation data is gathered of peer group institutions, which is available from subscribed survey data sources. The salary medians of the comparable education institution groups will inform the committee and be used as guides. The Committee will also review salary in relation to local and national inflation measures, individual performance, as evidenced by the annual written performance evaluations, and the individual's length of service in the position. Detailed analyzed data is presented to the Committee for review and discussion. After review and discussion of report results, performance evaluations, and any requested additional clarification, the Committee, in executive session with the President and Board Secretary, determines salary increases for Vice Presidents and others. The Board Secretary is excused, and the Committee determines the Board Secretary's salary increase. The President is excused from the meeting and the Committee develops a recommendation to the Board of Trustees for the President's salary increase. Minutes of the Committee and the analyses are kept in confidentiality limited to the Committee, President, Board Secretary, Vice President, Chief Operating Officer and Treasurer, and Assistant Vice President/Chief Human Resources Officer. The Assistant Vice President/Chief Human Resources Officer retains the minutes analyses as documentation of the process. The Committee presents its report on the President's recommended salary increase to the Board of Trustees during the May board meeting. The Board of Trustees carefully consider the recommendation and the analysis performed by the Compensation Committee prior to approving the President's salary increase. The compensation analysis was last completed in April 2024. Form 990, Part VI, Section C, line 19 - Financial statements are available on Harvey Mudd College's website. - Conflict of interest policy is available to the public upon request. - Governing documents are not made available to the public. Form 990, Part XI, line 9: Actuarial Adjustment 986,210. The Claremont Colleges Inc 101 S Mills Ave Claremont CA 91711 954786748 Provide academic and business services CA 501(c)(3) Line 12a, I N/A 0 Claremont Investment Fund 500 E 9th Street Claremont CA 91711 823049880 Supporting Organization CA 501(c)(3) Line 12a, I Claremont McKenna College 0 Claremont Investment Management Company 500 E 9th Street Claremont CA 91711 823028605 Supporting Organization CA 501(c)(3) Line 12a, I Claremont McKenna College 0 Charitable Remainder Unitrusts (7) Holding CA N/A T 1 Pooled Income Fund (1) Holding CA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0