Ferrum College is located in Ferrum, VA. 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, Ferrum College employed 740 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ferrum College 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, Ferrum College generated $50.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $53.1m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 6 years. 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
FERRUM COLLEGE IS A PRIVATE LIBERAL ARTS INSTITUTION THAT PROVIDES BOTH UNDERGRADUATE AND GRADUATE DEGREES. WE ARE A DYNAMIC LEARNING COMMUNITY WHERE STUDENTS ENTER WITH PROMISE AND LEAVE WITH PURPOSE. THE MISSION IS SUPPORTED BY OUR VISION TO INSPIRE EVERYONE TO DO GOOD WORK, BUILD GOOD FUTURES, AND LIVE GOOD LIVES. THROUGH GENEROSITY OF SPIRIT, BEING A COMMUNITY THAT CONNECTS AND INSPIRES, PROVIDING OPPORTUNITY, REGARDLESS OF BACKGROUND, AND EXHIBITING RESILIENCE THROUGH INNOVATION AND RESOURCEFULNESS, WE STRENGTHEN OUR MISSION AND VISION. OUR ONE PRIORITY IS TO FULFILL THE PROMISE OF COLLEGE BY PROVIDING PATHWAYS TO MEANINGFUL WORK, MAKING EDUCATION ATTAINABLE, AND STAYING CONNECTED FOR A LIFETIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - FERRUM MAINTAINS A TRADITION OF OFFERING A COMPREHENSIVE ACADEMIC PROGRAM IN ACCORD WITH A LIBERAL ARTS CORE. WE STRIVE TO PROVIDE EDUCATION AND TO MAXIMIZE STUDENTS' CHANCES FOR SUCCESS BY PROVIDING ONE-ON-ONE SUPPORT, INDIVIDUAL ATTENTION AND POSITIVE REINFORCEMENT. THE CURRICULUM INCLUDES OPPORTUNITIES FOR CAREER PREPARATION AS WELL AS PERSONAL DEVELOPMENT IN ORDER TO HELP EACH STUDENT FULFILL HIS OR HER PERSONAL EDUCATIONAL GOALS. FERRUM COLLEGE OFFERS 28 MAJORS AND 39 MINORS, AS WELL AS A STUDENT-FACULTY RATIO OF 13:1. THE COLLEGE STRIVES TO PROVIDE PRE-PROFESSIONAL LEARNING OPPORTUNITIES BY OFFERING A WIDE ARRAY OF INTERNSHIPS IN ITS MAJORS. FERRUM STUDENTS GET HANDS-ON LEARNING EXPERIENCE DURING AN EXPERIENTIAL TERM, A THREE-WEEK SUMMER TERM THAT FOCUSES ON UNIQUE LEARN-BY-DOING EXPERIENCES. IN FALL 2020, THE COLLEGE LAUNCHED TWO GRADUATE PROGRAMS WITH PLANS TO EXPAND OFFERINGS IN SUBSEQUENT YEARS. FERRUM COLLEGE PROVIDES ONE-ON-ONE SUPPORT THROUGH TUTORING, ACADEMIC ADVISING AND ACADEMIC COUNSELING THROUGH THE CARTER CENTER FOR ACADEMIC SUCCESS. THE COLLEGE ALSO OPERATES A FITNESS CENTER THAT PROVIDES OPPORTUNITIES FOR SUTDENTS TO PUT INTO PRACTICE WHAT THEY ARE LEARNING IN THE CLASSROOM.
ACADEMIC SUPPORT STANLEY LIBRARY CONSISTS OF THE 21ST CENTURY LEARNING AREA WHICH HOUSES OUR LEARNING ENGAGEMENT AND PRACTICE (LEAP) STUDIO FOR LIBRARY INSTRUCTION, OUR DIGITAL MEDIA CENTER, OUR DIGITAL AUDIO LAB, AND OUR "GREEN SCREEN" ROOM. THE LIBRARY ALSO HAS A SUFFICIENT PRINT COLLECTION, A LEARNING COMMONS STUDY AREA, FULL RANGE OF RESOURCE SHARING SERVICES, AND OTHER QUIET STUDY AREAS. THE MICHAEL CHRISTIAN '63 FOR FIRST-YEAR EXPERIENCE IS DESIGNED TO HELP STUDENTS ADJUST TO FERRUM COLLEGE AND OBTAIN THE NECESSARY SKILLS TO BECOME A SUCCESSFUL COLLEGE STUDENT. THE PROGRAM ENGAGES NEW STUDENTS TO CULTIVATE A BETTER UNDERSTANDING OF THE LEARNING PROCESS, AND TO TAKE ADVANTAGE OF THE CAMPUS RESOURCES AND COMMUNITY AVAILABLE TO THEM. THE STATE CENTER FOR BLUE RIDGE FOLKLORE, FERRUM COLLEGE'S BLUE RIDGE INSTITUTE AND MUSEUM (BRIM) HAS DOCUMENTED THE FOLKWAYS OF THE PEOPLE LIVING IN AND AROUND THE BLUE RIDGE MOUNTAINS. THE BRIM ADDS A UNIQUE ELEMENT TO FERREM COLLEGE'S MODERN ACADEMIC PROGRAMS. THESE SERVICES ARE PROVIDED FREE OF CHARGE TO STUDENTS. THE BLUE RIDGE INSTITUTE FARM MUSEUM IS AVAILABLE TO THE GENERAL PUBLIC FOR A SMALL FEE.
STUDENT SERVICES - STUDENT LEADERSHIP AND ENGAGEMENT FACILITATES A DIVERSE CALENDAR OF EVENTS THAT ENHANCES AND COMPLIMENTS THE CURRICULUM AND CO-CURRICULUM; SUPPORTS CLUBS AND ORGANIZATIONS THAT NOT ONLY INVOLVE, BUT ENGAGES STUDENTS, AND PROMOTES SERVICE LEARNING. ATHLETICS - FERRUM COLLEGE CONSIDERS INTERCOLLEGIATE ATHLETICS TO BE AN INTEGRAL PART OF THE COLLEGE EXPERIENCE AND SEEKS TO PROVIDE POSITIVE AND ENRICHING PROGRAMS THAT COMPLEMENT AND REINFORCE THE EDUCATIONAL PURSUITS, ACADEMIC SUCCESS, AND ATHLETIC EXCELLENCE OF STUDENT ATHLETES. ADMISSIONS PROMOTES FERRUM COLLEGE THROUGH VARIOUS MARKETING PROGRAMS INCLUDING MAILINGS, ATTENDANCE AT VARIOUS HIGH SCHOOL COLLEGE FAIRS, AND PERSONAL TOURS OF THE CAMPUS IN ORDER TO ENROLL STUDENTS. FINANCIAL AID COMPLEMENTS THE ADMISSIONS PROCESS BY WORKING WITH FAMILIES TO SECURE FINANCIAL RESOURCES REQUIRED FOR ATTENDANCE. REGISTRAR ASSISTS AS WELL BY VERIFYING THE ACADEMIC CREDENTIALS OF POTENTIAL STUDENTS AND THEN FOLLOWS THE STUDENT THROUGH THEIR ACADEMIC PROGRESS TO GRADUATION. TRI-AREA COMMUNITY HEALTH CENTER (3RD PARTY PARTNER) AND FERRUM COLLEGE COUNSELING SERVICES PROVIDE HEALTH SERVICES TO OUR STUDENTS.
AUXILIARIES - THE TWO MAJOR AREAS OF AUXILIARIES ARE RESIDENCE LIFE AND DINING SERVICES. RESIDENCE LIFE INCLUDES RESIDENTIAL FACILITIES AND STAFF THAT SUPPORT THE ON CAMPUS STUDENT HOUSING EXPERIENCE. DINING SERVICES INCLUDES COST OF MEAL PLANS AND EQUIPMENT REPLACEMENT OR REPAIRS. OTHER AUXILIARY ITEMS INCLUDE THE CAMPUS SPIRIT STORE, SUMMER PROGRAMS, AND FACULTY/STAFF RENTAL HOUSING.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr David Johns President | Officer | 60 | $228,963 |
Dr Aime Sposato Provost | Officer | 55 | $180,572 |
Wilson Paine VP For Institutional Advan | 55 | $136,880 | |
John Sutyak Director Of Athletics | 55 | $110,632 | |
Barbara Hatcher VP For Business And Finance | Officer | 55 | $107,859 |
Christopher Chandler Director Of Human Resource | 55 | $104,814 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Aladdin Food Mgmt Services Llc Dining Services | 6/29/21 | $2,333,537 |
Abbott Bus Lines Transportation Services | 6/29/21 | $159,298 |
Ellucian Inc Technology Solutions | 6/29/21 | $290,520 |
Spark Admissions Marketing | 6/29/21 | $197,666 |
Hoffman Heating And Air Hvac Services | 6/29/21 | $114,000 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $3,475,184 |
Investment income | $1,158,406 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $213,926 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $50,862,337 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $21,397,026 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,292,773 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $13,020,980 |
Pension plan accruals and contributions | $46,394 |
Other employee benefits | $2,100,720 |
Payroll taxes | $895,236 |
Fees for services: Management | $0 |
Fees for services: Legal | $53,695 |
Fees for services: Accounting | $70,254 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $85,893 |
Fees for services: Other | $668,122 |
Advertising and promotion | $28,474 |
Office expenses | $768,156 |
Information technology | $2,580,364 |
Royalties | $0 |
Occupancy | $3,141,481 |
Travel | $501,587 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $11,380 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,305,229 |
Insurance | $621,566 |
All other expenses | $0 |
Total functional expenses | $53,101,585 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,576,334 |
Savings and temporary cash investments | $13,508,647 |
Pledges and grants receivable | $338,987 |
Accounts receivable, net | $664,980 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $1,419,080 |
Inventories for sale or use | $411,721 |
Prepaid expenses and deferred charges | $421,637 |
Investments—publicly traded securities | $37,452,640 |
Investments—other securities | $1,645,156 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $13,183,753 |
Total assets | $125,611,329 |
Accounts payable and accrued expenses | $2,364,409 |
Grants payable | $0 |
Deferred revenue | $515,049 |
Tax-exempt bond liabilities | $7,767,514 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $19,296,531 |
Unsecured mortgages and notes payable | $3,963,749 |
Other liabilities | $649,595 |
Total liabilities | $34,556,847 |
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 | $91,054,482 |
Over the last fiscal year, we have identified 1 grants that Ferrum College has recieved totaling $1,000.
Awarding Organization | Amount |
---|---|
Greater Augusta Regional Chamber Of Commerce Foundation Fishersville, VA PURPOSE: SCHOLARSHIP | $1,000 |
Beg. Balance | $52,306,519 |
Earnings | $15,226,382 |
Admin Expense | $181,489 |
Net Contributions | $1,157,995 |
Other Expense | $840,311 |
Grants | $1,522,556 |
Ending Balance | $66,146,540 |
Organization Name | Assets | Revenue |
---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Goucher College Baltimore, MD | $394,278,148 | $93,748,228 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Randolph-Macon College Ashland, VA | $426,120,167 | $119,204,346 |
Bridgewater College Bridgewater, VA | $220,158,848 | $86,618,271 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Washington College Chestertown, MD | $509,587,236 | $93,610,957 |
Hampden-Sydney College Hampdensydney, VA | $332,900,116 | $118,845,969 |