Harvey Mudd College

Nonprofit profile at a glance

EIN
951911219
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2022
Location
Claremont, CA, USA
Phone
909-621-8000
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$130,262,890
Expenses
$116,387,375
Assets
$718,552,395
Liabilities
$75,306,145

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

49 people listed

Executive titles in this filing

  • Harriet B Nembhard (President)

Highest reported compensation

  • Harriet B Nembhard (President): $811,087 total reported compensation
  • Andrew R Dorantes - Sr VP (Chief Op Officer & Chief Fin Officer): $518,345 total reported compensation
  • Tom Donnelly - VP for Academic (Affairs & Dean of Faculty): $410,416 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Harvey Mudd College seeks to educate engineers, scientists, and mathematicians well versed 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.

What it reported doing in 2024

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.

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, 23% for grants, and 0% for affiliated organizations.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 76
  • Accountability: 98
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.9%; rating input score 93
  • Program expense ratio: 85.8%; rating input score 86
  • Fundraising efficiency: $2.92 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 31st percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.1%; rating input score 97; 52nd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.7%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 6.17; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 34th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 92.9% of revenue deployed · 85.8% of spending went to programs
  • Governance: 33 of 34 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $99.9M in reported program spending
  • Leadership: top reported pay $811K · 49 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.6M reported
  • Consistency: 44 of 45 current checks pass · 1 finding to review
  • Schedules: 12 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.