What is the Annual Mudd Fundd?
The Annual Mudd Fundd (AMF) provides a way for alumni, parents, faculty, staff, students and other friends to make annual gifts to the Harvey Mudd College that, when pooled together, provide a significant source of revenue necessary to fund the ongoing operation of the College. In fact, last year’s contributions to the AMF—totaling $3.88 million—accounted for nearly six percent of the College’s annual operating budget. Because AMF gifts are not restricted in their use, these funds can flow to the areas within the budget where they’re most needed, thus supporting nearly every area critical to fulfilling the College’s mission.
Doesn’t tuition cover the cost of a Harvey Mudd education?
In reality, tuition payments (a.k.a. student revenue) only provide 54 percent of the College’s revenue. Other sources of revenue—including private gifts and payout from our endowment—are needed to cover the difference between the true cost of a Harvey Mudd education and the price paid by students and families – even those paying full tuition.
Why does Annual Mudd Fundd participation matter?
There is strength in numbers. Regardless of the size of gift, when it is combined with nearly 2,500 other gifts, the cumulative impact is significant. Even the segment of gifts less than $500 still added up to $269,522 last year. Moreover, strong participation helps foundations validate their decision to give. Of the foundations that contribute several million dollars to the College every year, a quarter require us to report alumni giving participation as part of the application process.
How many alumni and parents give to Harvey Mudd each year?
Last year over 1,700 alumni (27.5 percent) and close to 600 parents (33 percent), donated to the College, most of whom supported the Annual Mudd Fundd.
Can I designate my gift to something specific?
While gifts to the AMF are not restricted in their use, donors can specify a broad area within the operating budget where they prefer for their funds to be directed, such as student financial aid and operating support for a specific academic departments. However, if you are interested in further specifying the use of your gift for areas not typically funded through the operating budget or to create a permanent endowment, please contact Harvey Mudd College’s Office of Advancement for additional information at firstname.lastname@example.org or 1.844.GIVE.HMC (1.844.448.3462).
Are there tax benefits?
The Internal Revenue Service recognizes Harvey Mudd College as a 501(c) 3 tax-exempt organization and, therefore, gifts are tax-deductible to the full extent of the law. Some donors take advantage of additional tax benefits by choosing to make gifts of appreciated stock or by establishing life-income gifts, such as charitable annuities and trusts.
What is Harvey Mudd’s fiscal year?
The fiscal year mirrors the academic year beginning July 1 and ending June 30.