2026-05-13T09:38:24-05:00 2025-06-30 390859910 Baker Tilly Advisory Group LP 6320 Canoga Avenue 17th Floor Woodland Hills CA 91367 990 2024-07-01 951911219 Harvey Mudd College HARV 9096218043 301 Platt Boulevard Claremont CA 91711 Mia Alonzo Assistant VP/Controller 9096218043 2026-05-11 1 1 Lauren A Haverlock P00545829 8185771900 2026-05-11 2024 2025-03-06 01:10:19Z Harriet B Nembhard 301 Platt Boulevard Claremont CA 91711 235894517 0 X www.hmc.edu X 1955 CA HMC is one of the premier math, science and engineering liberal arts colleges in the nation. 34 33 1183 767 0 0 13469930 14904117 84094395 85306192 22520207 29983878 64139 68703 120148671 130262890 22451494 22823048 0 0 50156370 53371058 0 0 5109274 38649740 40193269 111257604 116387375 8891067 13875515 675267142 718552395 76546131 75306145 598721011 643246250 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 99895772 22823048 85306192 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. 99895772 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 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 1245 0 1 1183 1 0 0 0 0 0 0 0 0 0 0 0 1 X 34 33 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 692627 0 118460 James C Bean Chairman of the Board 1.00 1.00 X X 0 0 0 Laura A Larson Vice Chairman of the Board 1.00 0.00 X X 0 0 0 Michael P Schubmehl Vice Chairman of the Board 1.00 0.00 X X 0 0 0 John Benediktsson 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 Howard C Deshong III 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 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 L Gould Trustee 1.00 0.00 X 0 0 0 Shamit Grover 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 J Lee Trustee 1.00 0.00 X 0 0 0 Christopher F 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 Tyler Mingst Trustee 1.00 0.00 X 0 0 0 Karen Morrison Trustee 1.00 0.00 X 0 0 0 Obosa Obazuaye 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 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 W Worster Trustee 1.00 0.00 X 0 0 0 Andrew R Dorantes - Sr VP Chief Op Officer & Chief Fin Officer 50.00 2.00 X 447496 0 70849 Tom Donnelly - VP for Academic Affairs & Dean of Faculty 50.00 0.00 X 322140 0 88276 Thyra Briggs VP for Admissions and Financial Aid 50.00 0.00 X 273408 0 53868 Timothy L Hussey - VP Chief Comm Officer & Asst Secr to Board 50.00 0.00 X 207055 0 59200 Karen Angemi Chief of Staff & Secretary to Board of Trustees 50.00 0.00 X 162054 0 48974 Mia Alonzo Asst VP/Controller 4.00 20.00 X 0 201562 42581 Jennifer Eccles VP for Advancement 50.00 0.00 X 125894 0 9096 Joseph Vaughan - Chief Info Officer/VP of Comp & Info Services 50.00 0.00 X 269741 0 115688 Kimberly Stafford AVP for Advancement 40.00 0.00 X 253493 0 99283 Cynthia Martinez - VP Student Affairs & Dean of Students 40.00 0.00 X 235654 0 58265 Zachary Dodds Faculty 40.00 0.00 X 243928 0 57122 Hieu Nguyen Former VP for Advancement 50.00 0.00 X 238381 0 38843 David Nembhard Faculty 40.00 0.00 X 200331 0 65693 Darryl Yong Faculty 40.00 0.00 X 205918 0 46198 Hal Van Ryswyk Faculty 40.00 0.00 X 199159 0 43048 4077279 201562 1015444 122 0 1 0 Sodexo Inc 1000 El Camino Real Atherton CA 94027 Food Services 2886343 Prontto Electric 393 West Street Upland CA 91786 Electrical 679745 Tovey Shultz Construction Inc 18261 Collier Avenue Unit A Lake Elsinore CA 92530 Construction 379731 Frahm Bros Inc 2164 Sandra Drive Jurupa Valley CA 92509 Contractor Services, Masonry 316197 Thermal Concepts Inc 13933 Sycamore Way Chino CA 91710 HVAC Services 315249 20 1026740 13877377 1567669 14904117 Tuition, Room & Board 611600 81052901 81052901 Fed Grants & Contracts 611600 1824778 1824778 Private Contracts 611600 1518978 1518978 Conferences & Other Program Servi 611600 564858 564858 Other Program Revenue 611600 344677 344677 85306192 7923570 7923570 1489 1489 67214 0 67214 67214 67214 127675510 16425 105631627 0 22043883 16425 22060308 22060308 130262890 85306192 0 30052581 22516634 22516634 306414 306414 3882185 2095650 950268 836267 249908 249908 36104440 32303091 1654877 2146472 3934045 3500183 189813 244049 6429558 5551027 444138 434393 2770922 2393150 171989 205783 166440 2700 163440 300 163980 163980 1403245 1403245 3793219 3225395 260129 307695 419446 238731 74432 106283 4840832 4338964 271477 230391 1574635 922514 453841 198280 3473539 3065282 330451 77806 1742411 1500052 105683 136676 645560 477481 62016 106063 1838564 1801953 36611 1208402 109234 1088314 10854 6391376 6209019 181227 1130 674438 2508 671930 Rel Orgs & Affil. 9313604 6931657 2370722 11225 Building Repair 1518552 1229160 260989 28403 Noncapitalized Equip 402480 370656 26686 5138 Food & Housing 337715 337715 284831 216694 46071 22066 116387375 99895772 11382329 5109274 456307 400507 44118087 44621830 16203013 14810011 2310573 1420964 358411 457700 250265112 104698242 146699829 145566870 10262405 11256979 453837070 498633004 850143 763859 171304 620671 675267142 718552395 8886581 9083327 679128 870840 12080554 11779446 367341 54894 48073221 46750038 6459306 6767600 76546131 75306145 X 201273877 207691622 397447134 435554628 598721011 643246250 675267142 718552395 X 13875515 30193190 456534 X 0 1 X 1 1 1 X 13175141 15609308 22008888 13469930 14904117 79167384 13175141 15609308 22008888 13469930 14904117 79167384 11230669 67936715 4869512 5649961 7126412 7871976 7992273 33510134 112677518 375569883 0.60290 0.59980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 463955556 5548767 56455633 3688189 14547378 507724389 422771795 10231969 48483268 3539557 13991919 463955556 407297564 13640710 18396835 3315372 13247942 422771795 444484175 10209787 -31436857 3206978 12752563 407297564 321389453 3930891 134836315 3059939 12612545 444484175 0.18980 0.39400 0.41620 0 1 1 12913951 12913951 1127600 213157759 87063623 127221736 3454883 3316295 138588 15719214 14318324 1400890 3891705 3891705 145566870 Pooled Investments Held at Claremont Investment Fund 498633004 F 498633004 Annuities Payable 3967334 Asset Retirement Obligation 1755777 Government Advances/Student Loans 575896 Financing Lease Obligations 468593 6767600 X 136686321 30193190 456534 30649724 106036597 1403245 22823048 24226293 130262890 92161082 0 92161082 1403245 22823048 24226293 116387375 Part IV, Line 2b: Funds held in trust for others totaled approximately $55,000 and $367,000 at June 30, 2025 and June 30, 2024, 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 functioning as endowment have been established by the Board of Trustees to function as endowment, any portion of such funds may be expended. Part X, Line 2: The College is exempt from Federal and California income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the California Revenue and Taxation Code, except for taxes on unrelated business income. Since the College had no material unrelated business income for the years ended June 30, 2025 and 2024, no provision for income taxes has been made in the accompanying financial statements. In accordance with generally accepted accounting principles, the College had no unrecognized tax benefits at June 30, 2025 and 2024. Part XI, Line 2d - Other Adjustments: Actuarial Adjustment 456,534. Part XI, Line 4b - Other Adjustments: Student Financial Aid 22,823,048. Part XII, Line 4b - Other Adjustments: Student Financial Aid 22,823,048. 1 1 1 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. 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 26801 East Asia and the Pacific 0 0 Program Services Education Instruction 168714 Europe (Including Iceland & Greenland) 0 0 Program Services Education Instruction 588859 Middle East and North Africa 0 0 Program Services Education Instruction 1125 North America (Canada and Mexico) 1 0 Program Services Education Instruction/Consulting 85787 Russia and Neighboring States 0 0 Program Services Education Instruction 2062 South America 0 0 Program Services Education Instruction 3214 South Asia 0 0 Program Services Education Instruction 3996 Sub-Saharan Africa 0 0 Program Services Education Instruction 60959 Central America and the Caribbean 0 0 Grants to recipients located in region 750 East Asia and the Pacific 0 0 Grants to recipients located in region 17921 Europe (Including Iceland & Greenland) 0 0 Grants to recipients located in region 244645 Sub-Saharan Africa 0 0 Grants to recipients located in region 43098 1 0 0 0 1 0 880558 367373 1247931 Financial aid Central America and the Caribbean 1 750 Application against student account Financial aid East Asia and the Pacific 2 17921 Application against student account Financial aid Europe (Including Iceland & Greenland) 12 244645 Application against student account Financial aid Sub-Saharan Africa 2 43098 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 543 22516634 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 1 1 X X X X 1 0 0 0 0 0 0 0 0 Harriet B Nembhard President 659400 0 0 0 33227 0 41400 0 77060 0 811087 0 0 0 Andrew R Dorantes - Sr VP Chief Op Officer & Chief Fin Officer 447496 0 0 0 0 0 41400 0 29449 0 518345 0 0 0 Tom Donnelly - VP for Academic Affairs & Dean of Faculty 322140 0 0 0 0 0 40590 0 47686 0 410416 0 0 0 Joseph Vaughan - Chief Info Officer/VP of Comp & Info Services 269741 0 0 0 0 0 34008 0 81680 0 385429 0 0 0 Kimberly Stafford AVP for Advancement 253493 0 0 0 0 0 31701 0 67582 0 352776 0 0 0 Thyra Briggs VP for Admissions and Financial Aid 273408 0 0 0 0 0 33540 0 20328 0 327276 0 0 0 Zachary Dodds Faculty 243928 0 0 0 0 0 29841 0 27281 0 301050 0 0 0 Cynthia Martinez - VP Student Affairs & Dean of Students 235654 0 0 0 0 0 29400 0 28865 0 293919 0 0 0 Hieu Nguyen Former VP for Advancement 160910 0 0 0 77471 0 25528 0 13315 0 277224 0 0 0 Timothy L Hussey - VP Chief Comm Officer & Asst Secr to Board 207055 0 0 0 0 0 25461 0 33739 0 266255 0 0 0 David Nembhard Faculty 200331 0 0 0 0 0 25075 0 40618 0 266024 0 0 0 Darryl Yong Faculty 205722 0 148 0 48 0 25481 0 20717 0 252116 0 0 0 Mia Alonzo Asst VP/Controller 0 200602 0 0 0 960 0 21193 0 21388 0 244143 0 0 Hal Van Ryswyk Faculty 199159 0 0 0 0 0 24432 0 18616 0 242207 0 0 0 Karen Angemi Chief of Staff & Secretary to Board 162054 0 0 0 0 0 19920 0 29054 0 211028 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. - Housing allowance or residence for personal use - HMC 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 - HMC 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 - HMC reimbursed dependent tuition expenses to the President as a gross-up payment during the year that was included in taxable compensation. -Discretionary spending account - HMC provided an auto allowance to the President. The allowance was included in taxable compensation. - Housing allowance - HMC provided housing downpayment assistance for one employee that was included in taxable compensation. Part I, Line 4a Hieu Nguyen received a severance payment of $30,000. 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 1220554 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 249908 Employment compensation 0 X 1 1 FMV X 1 FMV X 44 1463816 FMV X Milling Machine 1 103850 Appraisal X Printer 1 1 FMV 1 0 1 0 Part I, Column (b): The College is reporting the number of contributions 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 (HMC) 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 Senior Vice President, Chief Operating Officer and Chief Financial Officer. 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, Senior Vice President, Chief Operating Officer and Chief Financial Officer, 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 2025. 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 456,534. 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 1 0 0 1 0 0 1