Annual Report

Academic Year 2018–2019

CLASS OF 2023
0
Entering Students
0 %
Women
0 %
First-generation College Students

A Clinic team designed a nonprofit solar panel factory—the first of its kind.

The Office of International Students and Scholars formed in fall 2018.

The College inaugurated an
expanded summer session.

The College received a STARS Silver rating from the Association for the Advancement of Sustainability in Higher Education.

Letter from the Chair

As we begin 2020, we’re moving to a new format for the Harvey Mudd College annual report. I’ll touch on some of the key moments of the previous academic year, and you can find the reports from the Office of College Advancement and the Business Affairs Office below.

 

As usual, we had a lot to celebrate over the past academic season, including continued high rankings in Princeton Review, PayScale and U.S. News and World Report and another extraordinary group of entering students (224), of which 50% are women and 10% are first-generation college students.

 

Faculty members continued to garner attention for their outstanding teaching and service: Mohamed Omar (Henry L. Alder Award for math teaching), Lisette de Pillis (2019 MAA Southern California-Nevada Section Award for Distinguished College or University Teaching of Mathematics) and Kerry Karukstis (American Chemical Society Fellow). And congratulations also to President Maria Klawe who was named a 2019 Fellow of the Association for Women in Mathematics.

 

A coral discovery in the tropics, witnessed firsthand by biology professor and coral expert Catherine McFadden, made international news. Her work in this area is well-supported by the National Science Foundation which continues to bolster the research of many other HMC faculty. The Fulbright U.S. Scholar Program at the Management Center of Innsbruck selected Gordon Krauss for its Austria program, an international connection that will augment his research and teaching.

Among the firsts for 2018–2019: The Harvey Mudd College Division of Student Affairs created the Office of International Students and Scholars. Formed in fall 2018, the College inaugurated an expanded summer session, and a Clinic team designed a nonprofit solar panel factory—the first of its kind—in nearby Pomona.

On campus, the Teaching and Learning Committee designed and conducted the Workload and Health at Mudd (WHAM) study, and the College worked with the University of Cyprus and members of the Mudd family to donate the College’s Cypriot artifact collection to the university. Sustainability initiatives continue, and we were encouraged by a STARS Silver rating from the Association for the Advancement of Sustainability in Higher Education.

We celebrated the lives and contributions of several community members who died this past year, including chemistry professors Philip Myhre (faculty member from 1960 to 1999) and Mits Kubota (faculty member from 1959 to 2000; chair, Department of Chemistry, 1989–1995); and professor of mathematics emeritus Robert (Robin) T. Ives (faculty member from 1958 to 1996).

The new academic year began on a strong note with the successful conclusion of The Campaign for Harvey Mudd College. For more on the financial and fundraising details of academic year 2018–2019, I invite you to follow the link to view the online reports.

Wayne Drinkward ’76

Chair, Harvey Mudd College
Board of Trustees

Financial Review

The College is happy to report strong financial results for this fiscal year and an excellent overall financial position. The College is excited for the new investment partnership with Claremont Investment Fund and the opportunities that it will provide. We have already experienced an improvement in the investment pool performance. This partnership as well as the generosity of our donors continue to increase the resources and improve the facilities available to support the College’s mission.

Endowment Market Value

(In Thousands)

$288,996

$272,636

$298,859

$316,815

$328,568

Revenue

(In thousands)20192018
Tuition, fees, room and board$64,775$59,065
Less financial aid–19,911–18,299
Net student revenues$44,864$40,766
Federal grants$2,879 $3,194
Private gifts and grants$12,556 $18,541
Private contracts$2,199 $2,082
Endowment payout$14,977 $14,700
Other revenue$1,598 $1,288
Total Revenue$79,073 $80,571

Net student revenues, 57%
Endowment payout, 19%

Private gifts and grands, 16%

Federal grants, 3%
Private contracts, 3%

Other revenue, 2%

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Expenses

(In thousands)20192018
Instruction$30,426 $28,617
Research$4,025 $3,088
Public service$1,076 $999
Academic support$6,728 $6,858
Student services$7,861 $7,775
Institutional support$12,039 $ 10,914
Auxiliary enterprises$9,715 $9,129
Total Expenses$71,870 $67,380
Excess revenues
over expenses
$7,203 $13,191
Pooled investment (losses),

net of endowment payout

$2,725 $16,132
Other changes in net assets$5,719 $456
Change in net assets$15,647 $29,779

Instruction, 42%

Institutional support, 17%

Auxiliary enterprises, 14%
Student services, 11%

 

Research, 6%

Academic support, 9%
Public service, 1%

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Advancement Review

All Gifts Received for FY 2018–2019

$17,723,599

Individuals, 89%

$1,615,575

Foundations, 8%

$455,331

Corporations, 2%

$110,000

Other Organizations, 1%

$19,904,505

Total

Gifts from Individuals

$11,018,647

Other Individuals, 62%

$5,472,836

Alumni, 31%

$1,137,596

Parents, 6%

$94,520

Faculty & Staff, 1%

$7,376,277

Total from Current Trustees in FY 2018–2019

Philanthropic Giving by Fiscal Year

2018–2019

2017–2018

2016–2017

2015–2016

2014–2015

Annual Mudd Fundd

$4,250,572

$4,016,064

$3,883,489

$3,891,888

$3,527,005

Designated/Restricted

Endowment

$7,200,140

$1,774,034

$2,767,124

$7,555,536

$4,451,227

Non-Endowment

$8,009,286

$3,552,995

$4,554,317

$4,763,841

$3,930,635

Bequests

$444,507

$11,190

$10,879

$402,189

$4,348,847

Total Philanthropic Giving

$19,904,505

$9,354,283​

$11,215,809​

$16,613,454​

$16,257,715​

2018–20192017–20182016–20172015–20162014–2015
Annual Mudd Fundd$4,250,572$4,016,064$3,883,489$3,891,888$3,527,005
Designated/Restricted
Endowment$7,200,140 $1,774,034$2,767,124$7,555,536$4,451,227
Non-Endowment$8,009,286$3,552,995$4,554,317$4,763,841$3,930,635
Bequests$444,507$11,190$10,879$402,189$4,348,847
Total$19,904,505$9,354,28$11,215,809$16,613,454$16,257,715

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Harvey Mudd College is a member of The Claremont Colleges