Annual Report

Academic Year 2019–2020

CLASS OF 2024

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Entering Students
0 %
Women
0 %
First-generation College Students

College breaks ground for Scott A. McGregor Computer Science Center.

College announces test-optional (SAT/ACT) policy for students applying during 2020-2021 and 2021-2022 admission cycles.

Homework Hotline celebrates 10 years of offering free STEM tutoring.

HMC engineering team wins Association for Supply Chain Management Global Case Competition, a first for the College.

The College joins the National Center for Faculty Development and Diversity.

chemistry student holding up a conical flask

The Department of Chemistry joins the Green Chemistry Commitment.

In spring 2019, residence halls close, and College begins online-only classes.

In the true spirit of HMC collaboration, students, faculty and staff pivoted, adapted and persevered in the face of unprecedented challenges caused by the coronavirus pandemic.

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Alumni, faculty and staff produce hundreds of face shields for local healthcare providers, and faculty donate personal protective equipment supplies.

Letter from the Chair

These atypical times have required us all to adapt and respond to the demands of a global pandemic. In true Harvey Mudd form, we continue to solve problems and celebrate the resilience and talent embedded in our culture. Our tradition of shared governance and responsibility, and our community’s dedication and passion, have kept the College strong.

It is this shared governance that attracted me to the position of board chair. My predecessor and fellow alumnus Wayne Drinkward ’73 was a great inspiration to me. He concluded a brilliant eight-year run as board chair, having overseen the Campaign for Harvey Mudd College, the most successful comprehensive campaign in the College’s history. His dedication and wise counsel helped facilitate the planning and construction of the R. Michael Shanahan Center for Teaching and Learning, the Wayne ’73 and Julie Drinkward Residence Hall, and the Scott A. McGregor Computer Science Center, the latter of which is on track to be completed within budget and on schedule (spring 2021).

His dedication, and that of so many others, has allowed the College to continue educating and supporting our students, even during this pandemic. Their successful efforts have resulted in many achievements during the 2019–2020 academic year.

In fall 2019, the College welcomed 210 exceptional students into the incoming Class of 2024. First-generation students make up 11% of the class and women comprise 47%, one of the highest gender ratios of any science- and engineering-focused institution. Upper-level students continued to garner prestigious national awards, including the Astronaut Scholar award (Emily Shimizu ’20), a Watson Fellowship (Victoria Marino ’20) and a Goldwater Scholarship (Aria Beaupre ’21). NSF Graduate Research Fellowships were awarded to Savana Ammons ’20 and Emily Hwang ’20.

Harvey Mudd held the No. 2 spot for the second consecutive year among the nation’s top undergraduate engineering programs (U.S. News & World Report) and is among the top three institutions on the The Princeton Review’s “Top 75 Best Value Colleges” list. HMC was also named a top-producing, bachelor’s-granting institution for U.S. Fulbright scholars. The College saw repeat acknowledgements this year, too, for highest mid-career salaries and for our undergraduates’ contributions to the public good, by Payscale and Washington Monthly, respectively.

Our outstanding faculty members continue to win support from the National Science Foundation, from which the College receives its largest share of external support for faculty research. During 2019-2020, a number of prestigious grants were awarded. Biology professor Catherine McFadden received $839,060 for her renowned work on soft corals, and the NSF supported computer science professor Ran Libeskind-Hadas and his continued research on phylogenetic tree reconciliations. Computer scientist Geoff Kuenning shared a grant for work to understand large parameter spaces in storage systems, and an interdisciplinary grant was awarded to HMC chemistry professor Hal Van Ryswyk and colleagues for the acquisition of a standardized integrated toolset for photovoltaics fabrication and characterization. Engineering professor Lori Bassman, whose work is supported by several NSF grants, is leading an international research group in the quest for novel metal alloys.

Faculty members have been hard at work on several important initiatives as well. At the November 2019 Saddle Rock retreat, I was pleased to learn about the progress of the Climate Change Working Group, which is building capacity to address climate change through research, teaching and more sustainable institutional practices. Through its Core Curriculum Committee, the faculty completed a three-year Core review process, which culminated in spring 2019 upon passage of a new Core curriculum proposal, “Four Courses Plus Electivity.” The Implementation Committee is working toward a 2021–2022 roll-out.

Jim Bean
Chair, Board of Trustees

Financial Review

The College’s financial position remains strong despite the challenges caused by the COVID-19 outbreak. The board, leadership, and community were able to quickly pivot and respond to the changing circumstances. This included making adjustments to budgeted spending to account for the room and board refunds as a result of students transitioning to online instruction in spring 2020. We also obtained additional resources from the CARES Act, other federal programs and gifts from our community. Though the challenges continue into the 2020–2021 fiscal year, HMC continues to be a place where our faculty and staff are committed to the students, academic program and community. We have always felt the size of the College and bonds within the HMC community were a strength, but the ways that we have weathered these COVID-related challenges have reinforced that.

Endowment Market Value

(In Thousands)

$272,636

$298,859

$316,815

$328,568

$319,714

Revenue

(In thousands)20202019
Tuition, fees, room and board$64,466$64,775
Less financial aid–$20,744–$19,911
Net student revenues$43,722$44,864
Federal grants$3,628$2,879
Private gifts and grants$9,125$12,556
Private contracts$2,422$2,199
Endowment payout$15,590$14,977
Other revenue$1,267$1,598
Total Revenue$75,754$79,073

Net student revenues, 58%
Endowment payout, 20%
Private gifts and grants, 12%

Federal grants, 5%
Private contracts, 3%
Other revenue, 2%

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Expenses

(In thousands)20202019
Instruction$30,985 $30,426
Research$3,727$4,025
Public service$1,009 $1,076
Academic support$6,546$6,728
Student services$8,366$7,861
Institutional support$11,266$12,039
Auxiliary enterprises$9,851$9,715
Total Expenses$71,750$71,870
Excess revenue over expenses$4,004$7,203
Pooled investment (losses), net of endowment payout($11,063)$2,725
Other changes in net assets($1,660)$5,719
Change in net assets($8,719)$15,647

Instruction, 43%
Institutional support, 16%
Auxiliary enterprises, 14%
Student services, 12%

Research, 5%
Academic support, 9%
Public service, 1%

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Advancement Review

All Gifts Received for FY 2019–2020

$10,530,101

Individuals, 82%

$2,038,241

Foundations, 16%

$319,481

Corporations, 2%

$25,000

Other Organizations, .2%

Total

$12,912,823

Gifts from Individuals

$3,320,349

Alumni, 32%

$958,182

Parents, 9%

$86,140

Faculty & Staff, 1%

$6,165,429

Other Individuals, 59%

Total

$10,530,101

Gifts from Current Trustees

Total

$5,085,603

Philanthropic Giving by Fiscal Year

2019–20202018–20192017–20182016–20172015–2016
Annual Mudd Fundd$4,062,905$4,250,572$4,016,064$3,883,489$3,891,888
Designated
/Restricted
Endowment$925,667$7,200,140$1,774,034$2,767,124$7,555,536
Non-Endowment$7,057,654$8,009,286$3,552,995$4,554,317$4,763,841
Bequests$866,597$444,507$11,190$10,879$402,189
Total Philanthropic Giving$12,912,823$19,904,505$9,354,283$11,215,809$16,613,454

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