Annual Report | 2018–2019
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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) | 2019 | 2018 |
|---|---|---|
| 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) | 2019 | 2018 |
|---|---|---|
| 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
| 2018–2019 | 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 | $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