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Nonprofiteer
← CLAREMONT INVESTMENT FUND

Form 990 for tax year 2024

Filed by CLAREMONT INVESTMENT FUND.

Totals

Total revenue
$96,041,180
Total expenses
$4,883,523
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$96,041,180
Other revenue
$0
Total assets, end of year
$2,189,577,689
Total liabilities, end of year
$536,382,285
Net assets or fund balances, end of year
$1,653,195,404
Program services expenses (Part IX)
$0
Management and general expenses
$4,883,523
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $23,845,801 · unrelated business $3,747,588 · excluded $20,098,213

  • 7a · Gross sales of assets other than inventory

    securities $421,695,000

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

    securities $349,499,621

  • 7c · Gain or loss

    securities $72,195,379

  • 7d · Net gain or loss

    total $72,195,379 · excluded $72,195,379

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $4,883,523 · management and general $4,883,523

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $27,251,059 · end of year $28,676,141

  • 11 · Investments: publicly traded securities

    beginning of year $168,508,128 · end of year $168,320,831

  • 12 · Investments: other securities

    beginning of year $1,762,328,611 · end of year $1,992,580,717

  • 21 · Escrow or custodial account liability

    beginning of year $453,837,070 · end of year $536,382,285

  • 27 · Net assets without donor restrictions

    beginning of year $1,504,250,728 · end of year $1,653,195,404

Mission and programs · 2024

Mission

CLAREMONT INVESTMENT FUND (THE "FUND") WAS ORGANIZED TO HOLD AND MANAGE THE ENDOWMENT ASSETS OF CLAREMONT MCKENNA COLLEGE (THE "COLLEGE") AND THOSE MEMBERS OF THE CLAREMONT COLLEGES THAT MAY BE APPROVED BY THE COLLEGE'S BOARD OF DIRECTORS FROM TIME TO TIME. THE FUND'S BROAD OBJECTIVE IS TO PRESERVE AND ENHANCE ITS REAL (INFLATION-ADJUSTED) PURCHASING POWER WHILE PROVIDING A RELATIVELY PREDICTABLE, STABLE, AND CONSTANT (IN REAL TERMS) STREAM OF EARNINGS CONSISTENT WITH THE SPENDING NEEDS OF THE COLLEGE AND PARTICIPATING MEMBERS OF THE CLAREMONT COLLEGES. THE FUND IS AN AFFILIATE OF CLAREMONT MCKENNA COLLEGE.

Activities or mission (Part I)

CLAREMONT INVESTMENT FUND WAS ORGANIZED TO HOLD AND MANAGE THE ENDOWMENT ASSETS OF CLAREMONT MCKENNA COLLEGE AND THOSE MEMBERS OF THE CLAREMONT COLLEGES THAT MAY BE APPROVED BY THE COLLEGE'S BOARD OF DIRECTORS FROM TIME TO TIME.

  • MANAGEMENT OF ENDOWMENT INVESTMENT ASSETS FOR CLAREMONT MCKENNA COLLEGE, HARVEY MUDD COLLEGE AND THE CLAREMONT COLLEGES, INC.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John Shewsberry

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rj Romero

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Abbott Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Ferri

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • David G Mgrublian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Tyler Mingst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ken Valach

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • James Floyd

    PRESIDENT AND CEO

    Total calculated
    $1,393,195
    From this org
    $0
    From related orgs
    $1,266,825
    Other
    $126,370
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $640,625 related
    Bonus
    $0 + $625,000 related
    Other
    $0 + $1,200 related
    Deferred
    $0 + $61,028 related
    Nontaxable benefits
    $0 + $65,342 related
    Filer's total
    $0 + $1,393,195 related

  • Michael Denny

    VICE PRESIDENT (THRU 01/25)

    Total calculated
    $761,480
    From this org
    $0
    From related orgs
    $693,700
    Other
    $67,780
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $352,500 related
    Bonus
    $0 + $340,000 related
    Other
    $0 + $1,200 related
    Deferred
    $0 + $50,528 related
    Nontaxable benefits
    $0 + $17,252 related
    Filer's total
    $0 + $761,480 related

  • Matthew Bibbens

    SECRETARY

    Total calculated
    $438,815
    From this org
    $0
    From related orgs
    $345,839
    Other
    $92,976
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $344,999 related
    Bonus
    $0
    Other
    $0 + $840 related
    Deferred
    $0 + $38,080 related
    Nontaxable benefits
    $0 + $54,896 related
    Filer's total
    $0 + $438,815 related

  • Tristan Gerber

    INVESTMENT OFFICER

    Total calculated
    $403,942
    From this org
    $0
    From related orgs
    $356,250
    Other
    $47,692
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,500 related
    Bonus
    $0 + $138,750 related
    Other
    $0
    Deferred
    $0 + $38,028 related
    Nontaxable benefits
    $0 + $9,664 related
    Filer's total
    $0 + $403,942 related

  • Erin Watkins

    CFO (THRU 12/24)

    Total calculated
    $349,025
    From this org
    $0
    From related orgs
    $300,000
    Other
    $49,025
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $32,595 related
    Nontaxable benefits
    $0 + $16,430 related
    Filer's total
    $0 + $349,025 related

  • Andrew Dorantes

    FORMER VICE PRESIDENT

    Total calculated
    $518,345
    From this org
    $0
    From related orgs
    $447,496
    Other
    $70,849
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $447,496 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $41,400 related
    Nontaxable benefits
    $0 + $29,449 related
    Filer's total
    $0 + $518,345 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
A RELATED ORGANIZATION SET THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING ONE OR MORE METHODS DESCRIBED ON SCHEDULE J, PART I, LINE 3.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
6 May 2026
IRS schema version
2024v5.5
Source object
202621279349302962

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