Claremont Mckenna College
- Assets
- $1.8b
- Revenue
- $321.6m
- Investments
- $986.9m
- Employees
- 1,719
- Location
- Claremont, CA
- Founding
- 10/1948
- Data as of
- 06/2020
- EIN
- 95-1664101
Organization Overview
Claremont Mckenna College, operating under the name Na, is located in Claremont, CA. The organization was established in 1948. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Na employed 1,719 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Na is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Na generated $321.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $163.0m during the year ending 06/2020. While expenses have increased by 1.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
CMC IS AN INDEPENDENT, RESIDENTIAL, LIBERAL ARTS COLLEGE WHOSE MISSION IS TO EDUCATE ITS STUDENTS FOR RESPONSIBLE LEADERSHIP IN BUSINESS, GOVERNMENT, AND THE PROFESSIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COLLEGE'S PRIMARY EXEMPT PURPOSE IS PROVIDING A LIBERAL ARTS EDUCATION THAT EMPHASIZES ECONOMICS AND POLITICAL SCIENCE, A PROFESSORIATE THAT IS DEDICATED TO EFFECTIVE UNDERGRADUATE TEACHING, A CLOSE STUDENT-TEACHER RELATIONSHIP THAT FOSTERS CRITICAL INQUIRY, AN ACTIVE RESIDENTIAL AND INTELLECTUAL ENVIRONMENT THAT PROMOTES RESPONSIBLE CITIZENSHIP, AND A PROGRAM OF RESEARCH INSTITUTES AND SCHOLARLY SUPPORT THAT MAKES POSSIBLE A FACULTY OF TEACHER-SCHOLARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hiram Chodosh President | OfficerTrustee | 40 | $623,077 |
James Floyd VP And Chief Investment Officer | Officer | 1 | $467,380 |
Coreen Rodgers VP Of Business And Chief Operating Officer | Officer | 40 | $368,341 |
Peter Uvin VP For Academic Affairs And Dean Of The Faculty | Officer | 40 | $366,884 |
Fan Yu Faculty | 40 | $350,447 | |
Eric Hughson Faculty | 40 | $345,162 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gardner Company Inc Heating And Air Conditioning Service | 6/29/21 | $1,002,352 |
Cambridge Associates Llc Investment Management | 6/29/21 | $937,500 |
Southern California Edison Construction | 6/29/21 | $1,555,941 |
Amb Onsite Services - West Inc Janitorial Services | 6/29/21 | $744,532 |
Western Av Audio Visual Equipment/training | 6/29/21 | $931,783 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $183,040,433 |
| Investment income | $9,035,520 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $211,067 |
| Net Gain/Loss on Asset Sales | $28,589,019 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $321,560,955 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $28,513,338 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,189,779 |
| Compensation to disqualified persons | $813,900 |
| Other salaries and wages | $48,175,128 |
| Pension plan accruals and contributions | $4,457,829 |
| Other employee benefits | $5,681,224 |
| Payroll taxes | $3,269,967 |
| Fees for services: Management | $52,798 |
| Fees for services: Legal | $757,092 |
| Fees for services: Accounting | $453,259 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,898,126 |
| Fees for services: Other | $5,130,205 |
| Advertising and promotion | $1,070,726 |
| Office expenses | $2,776,701 |
| Information technology | $2,110,115 |
| Royalties | $0 |
| Occupancy | $4,034,845 |
| Travel | $5,100,300 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,339,074 |
| Interest | $9,537,655 |
| Payments to affiliates | $14,485,285 |
| Depreciation, depletion, and amortization | $9,992,847 |
| Insurance | $566,363 |
| All other expenses | $0 |
| Total functional expenses | $162,961,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $889,008 |
| Savings and temporary cash investments | $18,821,380 |
| Pledges and grants receivable | $281,523,564 |
| Accounts receivable, net | $7,014,912 |
| Loans from Officers, Directors, or Controlling Persons | $110,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,190,209 |
| Investments—publicly traded securities | $160,940,189 |
| Investments—other securities | $986,861,982 |
| Investments—program-related | $6,738,379 |
| Intangible assets | $0 |
| Other assets | $1,164,713 |
| Total assets | $1,751,055,641 |
| Accounts payable and accrued expenses | $16,912,697 |
| Grants payable | $0 |
| Deferred revenue | $3,926,079 |
| Tax-exempt bond liabilities | $109,792,058 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $225,930,120 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $61,535,303 |
| Total liabilities | $418,096,257 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,332,959,384 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Claremont Mckenna College has recieved totaling $864,286.
| Awarding Organization | Amount |
|---|---|
Elizabeth And Joseph Massoud Family Foundation Wilmington, DE PURPOSE: MASSOUD FAMILY FUND | $642,857 |
Uw Harold S Geneen Charitable Tr Dallas, TX PURPOSE: SUPPORTS MULTIPLE | $145,000 |
Elizabeth And Joseph Massoud Family Foundation Wilmington, DE PURPOSE: VIVIENNE Y. MASSOUD MEMORIAL SCHOLARSHIP FUND | $71,429 |
Biszantz Charitable Foundation Tr Lexington, KY PURPOSE: TO SUPPORT THE ORGANIZATION'S MISSION | $5,000 |
Endowment Analysis
| Beg. Balance | $952,269,012 |
| Earnings | $379,305,154 |
| Admin Expense | $3,363,026 |
| Net Contributions | $26,611,408 |
| Other Expense | $30,499,039 |
| Grants | $11,096,741 |
| Ending Balance | $1,313,226,768 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Baptist University Riverside, CA | $602,706,322 | $400,113,733 |
Pomona College Claremont, CA | $3,932,260,494 | $235,119,844 |
Lewis And Clark College Portland, OR | $616,912,897 | $240,136,903 |
Claremont Mckenna College Claremont, CA | $1,751,055,641 | $321,560,955 |
Occidental College Los Angeles, CA | $902,945,083 | $157,427,095 |
Art Center College Of Design Pasadena, CA | $332,038,708 | $136,246,273 |
Reed Institute Portland, OR | $1,033,562,980 | $135,489,826 |
Linfield University Mcminnville, OR | $308,659,467 | $110,269,366 |
Westmont College Santa Barbara, CA | $328,569,320 | $121,110,665 |
Scripps College Claremont, CA | $617,457,507 | $98,616,217 |
California College Of The Arts San Francisco, CA | $203,468,162 | $107,701,190 |
Vanguard University Of So Ca Costa Mesa, CA | $81,753,319 | $83,351,301 |