Harvey Mudd College

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

Harriet B Nembhard

Phone

9096218043

Tax Period

2023-07-01 to 2024-06-30

Harvey Mudd College, founded in 1955, is a major nonprofit in the Education sector that reported $120.1M in total revenue in fiscal year 2023. Expenses of $111.3M left a modest 7% surplus.

Mission

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.

Program Service Accomplishments

Program 1

Expenses: $96,125,691 Revenue: $84,094,395

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...

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $13,469,930

Program Service Revenue $84,094,395

Investment Income $22,520,207

Other Revenue $64,139

TOTAL REVENUE $120,148,671

Expense Breakdown

Grants Paid $22,451,494

Salaries & Benefits $50,156,370

Fundraising Expenses $5,238,890

Program Expenses $96,125,691

Other Expenses $38,649,740

TOTAL EXPENSES $111,257,604

Year-over-Year Comparison

	2023	2022	Change
Revenue	$120,148,671	$122,013,429	0.0%
Expenses	$111,257,604	$107,261,135	+0.0%
Net Income	$8,891,067	$14,752,294	-0.4%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

1210

Volunteers

569

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,726,346

Total Directors

$458,687

Key Employees

$1,509,633

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Harriet B Nembhard	President	50.00	Officer Director	$362,345	$96,342	$458,687
James C Bean	Chair of the Board	1.00	Officer Director	$0	$0	$0
Laura A Larson	Vice Chair of the Board	1.00	Officer Director	$0	$0	$0
Michael P Schubmehl	Vice Chair of the Board	1.00	Officer Director	$0	$0	$0
John Benediktsson	Trustee	1.00	Director	$0	$0	$0
Justin Christian	Trustee	1.00	Director	$0	$0	$0
Doo Chung	Trustee	1.00	Director	$0	$0	$0
Pat Copeland	Trustee	1.00	Director	$0	$0	$0
Michael Curtis	Trustee	1.00	Director	$0	$0	$0
Bruce L DePriester	Trustee	1.00	Director	$0	$0	$0
Howard C Deshong III	Trustee	1.00	Director	$0	$0	$0
Jason Fennell	Trustee	1.00	Director	$0	$0	$0
Matthew Ferri	Trustee	1.00	Director	$0	$0	$0
Kathleen Fisher	Trustee	1.00	Director	$0	$0	$0
Scott Fraser	Trustee	1.00	Director	$0	$0	$0
Kacyn Fujii	Trustee	1.00	Director	$0	$0	$0
Laurie Girand	Trustee	1.00	Director	$0	$0	$0
Murray Goldberg	Trustee	1.00	Director	$0	$0	$0
Robert Gould	Trustee	1.00	Director	$0	$0	$0
Shamit Grover	Trustee	1.00	Director	$0	$0	$0
Mar Hershenson	Trustee	1.00	Director	$0	$0	$0
Dylan Hixon	Trustee	1.00	Director	$0	$0	$0
Robert Hulse	Trustee	1.00	Director	$0	$0	$0
Albert Lee	Trustee	1.00	Director	$0	$0	$0
Allan Leinwand	Trustee	1.00	Director	$0	$0	$0
Tony Li	Trustee	1.00	Director	$0	$0	$0
Curtis Mewbourne	Trustee	1.00	Director	$0	$0	$0
Tyler Mingst	Trustee	1.00	Director	$0	$0	$0
Karen Morrison	Trustee	1.00	Director	$0	$0	$0
Justin Peterson	Trustee	1.00	Director	$0	$0	$0
Autumn Preskill	Trustee	1.00	Director	$0	$0	$0
Gregory Rae	Trustee	1.00	Director	$0	$0	$0
Amyn Rajan	Trustee	1.00	Director	$0	$0	$0
Sunil Rajasekar	Trustee	1.00	Director	$0	$0	$0
Murray Rode	Trustee	1.00	Director	$0	$0	$0
Jessica Skon	Trustee	1.00	Director	$0	$0	$0
Yvonne Wassenaar	Trustee	1.00	Director	$0	$0	$0
Michael G Wilson	Trustee	1.00	Director	$0	$0	$0
Terence Wong	Trustee	1.00	Director	$0	$0	$0
Bruce Worster	Trustee	1.00	Director	$0	$0	$0
Lindsay Wray	Trustee	1.00	Director	$0	$0	$0
Andrew Dorantes - VPChief	Operating Officer & Treasurer	50.00	Officer	$427,073	$65,774	$492,847
Hieu Nguyen	VP for Advancement	50.00	Officer	$336,296	$80,799	$417,095
Tom Donnelly - VP for Academic	Affairs & Dean of Faculty	50.00	Officer	$276,454	$75,110	$351,564
Thyra Briggs	VP for Admissions and Financial Aid	50.00	Officer	$261,586	$51,998	$313,584
Timothy Hussey - Chief Communic	Officer & Asst Sec to Board	50.00	Officer	$190,990	$56,596	$247,586
Mia Alonzo	Asst VP/Controller	4.00	Officer	$0	$46,238	$235,239
Karen Angemi	Chief of Staff & Secretary to Board	50.00	Officer	$148,994	$60,750	$209,744
Maria Klawe	Former President	50.00	Key Emp	$577,908	$89,210	$667,118
Joseph Vaughan - Chief Infomat	Officer & VP of Comp and Info Servic	50.00	Key Emp	$261,894	$59,059	$320,953
Kimberly Stafford	Interim VP for Advancement	40.00	Key Emp	$208,628	$81,934	$290,562
Marco Valenzuela - VP Student	Affairs & Dean of Students	40.00	Key Emp	$212,499	$18,501	$231,000
Zachary Dodds	Faculty	40.00	Highest	$234,767	$84,668	$319,435
Haydee Lindo	Faculty	40.00	Highest	$234,164	$37,181	$271,345
Matthew Spencer	Faculty	40.00	Highest	$231,127	$39,005	$270,132
Alfonso Castro	Faculty	40.00	Highest	$205,057	$56,334	$261,391
Jamie Haddock	Faculty	40.00	Highest	$224,867	$27,900	$252,767

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$120,148,671	$111,257,604	$675,267,142	$8,891,067
2023	$122,013,429	$107,261,135	$634,073,455	$14,752,294
2022	$135,401,536	$97,791,014	$620,812,431	$37,610,522
2021	$77,731,780	$78,166,837	$659,151,438	$-435,057
2020	$92,164,752	$93,685,743	$530,392,219	$-1,520,991
2019	$97,006,334	$92,943,737	$516,739,706	$4,062,597
2018	$112,549,527	$86,988,118	$501,358,279	$25,561,409