Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $983,248

• 1f · All other contributions, gifts and grants

  $12,486,682

• 1g · Noncash contributions included above

  $928,616

• 2a · Program service revenue: Tuition, Room & Board

  total $78,127,275 · related or exempt $78,127,275

• 2b · Program service revenue: Fed Grants & Contracts

  total $3,582,041 · related or exempt $3,582,041

• 2c · Program service revenue: Private Contracts

  total $1,638,953 · related or exempt $1,638,953

• 2d · Program service revenue: Conferences & Other Program Servi

  total $390,112 · related or exempt $390,112

• 2e · Program service revenue: Other Program Revenue

  total $356,014 · related or exempt $356,014

• 3 · Investment income

  total $7,807,837 · excluded $7,807,837

• 5 · Royalties

  total $1,172 · excluded $1,172

• 6a · Gross rents

  real property $62,967

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $62,967

• 6d · Net rental income or loss

  total $62,967 · excluded $62,967

• 7a · Gross sales of assets other than inventory

  securities $121,457,182

• 7b · Less cost or other basis and sales expenses

  securities $106,744,607 · other assets $205

• 7c · Gain or loss

  securities $14,712,575 · other assets -$205

• 7d · Net gain or loss

  total $14,712,370 · excluded $14,712,370

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $22,319,072 · program services $22,319,072

• 3 · Grants to foreign organizations and individuals

  total $132,422 · program services $132,422

• 5 · Compensation of officers, directors and key employees

  total $3,754,897 · program services $2,037,449 · management and general $972,889 · fundraising $744,559

• 6 · Compensation of disqualified persons

  total $275,697 · program services $275,697

• 7 · Other salaries and wages

  total $34,121,517 · program services $30,162,541 · management and general $1,473,210 · fundraising $2,485,766

• 8 · Pension plan contributions

  total $3,696,583 · program services $3,234,322 · management and general $172,805 · fundraising $289,456

• 9 · Other employee benefits

  total $5,698,609 · program services $4,928,321 · management and general $302,271 · fundraising $468,017

• 10 · Payroll taxes

  total $2,609,067 · program services $2,216,617 · management and general $162,650 · fundraising $229,800

• 11b · Fees: legal

  total $118,208 · management and general $118,208

• 11c · Fees: accounting

  total $178,334 · management and general $178,334

• 11f · Fees: investment management

  total $1,266,251 · management and general $1,266,251

• 11g · Fees: other

  total $3,002,335 · program services $2,737,004 · management and general $201,703 · fundraising $63,628

• 12 · Advertising and promotion

  total $544,241 · program services $194,310 · management and general $248,275 · fundraising $101,656

• 13 · Office expenses

  total $4,739,576 · program services $4,327,521 · management and general $198,455 · fundraising $213,600

• 14 · Information technology

  total $1,409,649 · program services $832,871 · management and general $469,917 · fundraising $106,861

• 16 · Occupancy

  total $3,267,075 · program services $2,902,854 · management and general $288,323 · fundraising $75,898

• 17 · Travel

  total $1,624,956 · program services $1,463,665 · management and general $59,397 · fundraising $101,894

• 19 · Conferences, conventions and meetings

  total $765,307 · program services $446,461 · management and general $55,751 · fundraising $263,095

• 20 · Interest

  total $1,852,094 · program services $1,816,468 · management and general $35,626

• 21 · Payments to affiliates

  total $1,109,845 · program services $155,871 · management and general $941,514 · fundraising $12,460

• 22 · Depreciation, depletion and amortization

  total $6,130,203 · program services $6,013,882 · management and general $115,303 · fundraising $1,018

• 23 · Insurance

  total $579,054 · program services $921 · management and general $578,133

• 24a · Other expenses: Related Organizations a

  total $8,868,638 · program services $7,118,188 · management and general $1,740,627 · fundraising $9,823

• 24b · Other expenses: Building Repair

  total $1,739,506 · program services $1,579,093 · management and general $130,694 · fundraising $29,719

• 24c · Other expenses: Noncapitalized Equipmen

  total $859,781 · program services $751,322 · management and general $96,640 · fundraising $11,819

• 24d · Other expenses: Food & Housing

  total $282,931 · program services $282,931

• 24e · All other expenses

  total $311,756 · program services $195,888 · management and general $86,047 · fundraising $29,821

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $258,461 · end of year $456,307

• 2 · Savings and temporary cash investments

  beginning of year $50,128,678 · end of year $44,118,087

• 3 · Pledges and grants receivable

  beginning of year $14,489,938 · end of year $16,203,013

• 4 · Accounts receivable

  beginning of year $1,048,046 · end of year $2,310,573

• 9 · Prepaid expenses and deferred charges

  beginning of year $465,306 · end of year $358,411

• 10a · Land, buildings and equipment: cost or other basis

  $245,329,991

• 10b · Land, buildings and equipment: accumulated depreciation

  $98,630,162

• 10c · Land, buildings and equipment, net

  beginning of year $149,550,318 · end of year $146,699,829

• 11 · Investments: publicly traded securities

  beginning of year $9,280,452 · end of year $10,262,405

• 12 · Investments: other securities

  beginning of year $407,804,008 · end of year $453,837,070

• 13 · Investments: program-related

  beginning of year $1,048,248 · end of year $850,143

• 15 · Other assets

  beginning of year $0 · end of year $171,304

• 17 · Accounts payable and accrued expenses

  beginning of year $7,869,326 · end of year $8,886,581

• 19 · Deferred revenue

  beginning of year $862,297 · end of year $679,128

• 20 · Tax-exempt bond liabilities

  beginning of year $12,369,212 · end of year $12,080,554

• 21 · Escrow or custodial account liability

  beginning of year $758,153 · end of year $367,341

• 24 · Unsecured notes and loans payable

  beginning of year $49,371,405 · end of year $48,073,221

• 25 · Other liabilities

  beginning of year $5,989,238 · end of year $6,459,306

• 27 · Net assets without donor restrictions

  beginning of year $193,363,077 · end of year $201,273,877

• 28 · Net assets with donor restrictions

  beginning of year $363,490,747 · end of year $397,447,134

The filer's explanations (Part III)

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Charitable Remainder Unitrusts (7)

  T · Holding · CA · controlled entity

• Pooled Income Fund (1)

  T · Holding · CA · controlled entity