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Nonprofiteer
← FERRIS FOUNDATION

Form 990 for tax year 2023

Filed by FERRIS FOUNDATION.

Totals

Total revenue
$10,812,102
Total expenses
$8,371,228
Contributions and grants received
$5,109,404
Grants paid
$7,808,230
Program service revenue
$0
Investment income
$5,807,833
Other revenue
-$105,135
Total assets, end of year
$131,149,686
Total liabilities, end of year
$275,108
Net assets or fund balances, end of year
$130,874,578
Program services expenses (Part IX)
$7,808,230
Management and general expenses
$466,611
Fundraising expenses
$96,387
Program service expenses (Part III)
$7,808,230

Program services were 93.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $148,750

  • 1f · All other contributions, gifts and grants

    $4,960,654

  • 1g · Noncash contributions included above

    $1,386,884

  • 3 · Investment income

    total $1,632,498 · unrelated business -$96,880 · excluded $1,729,378

  • 7a · Gross sales of assets other than inventory

    securities $23,999,179

  • 7b · Less cost or other basis and sales expenses

    securities $19,823,844

  • 7c · Gain or loss

    securities $4,175,335

  • 7d · Net gain or loss

    total $4,175,335 · excluded $4,175,335

  • 8a · Fundraising events: gross income

    $2,500

  • 8a · Fundraising events: contributions included on line 1c

    $148,750

  • 8b · Fundraising events: direct expenses

    $107,635

  • 8c · Net income from fundraising events

    total -$105,135 · excluded -$105,135

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,808,230 · program services $7,808,230

  • 11g · Fees: other

    total $446,070 · management and general $349,683 · fundraising $96,387

  • 12 · Advertising and promotion

    total $28,700 · management and general $28,700

  • 13 · Office expenses

    total $3,353 · management and general $3,353

  • 14 · Information technology

    total $12,397 · management and general $12,397

  • 17 · Travel

    total $22,449 · management and general $22,449

  • 23 · Insurance

    total $3,750 · management and general $3,750

  • 24a · Other expenses: BANK CHARGES AND OTHER

    total $41,599 · management and general $41,599

  • 24b · Other expenses: CONF. FEE (NON TRAVEL)

    total $4,305 · management and general $4,305

  • 24c · Other expenses: AWARD PRIZES NON SCHOLA

    total $375 · management and general $375

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $562,150 · end of year $301,527

  • 2 · Savings and temporary cash investments

    beginning of year $3,938,415 · end of year $3,625,501

  • 3 · Pledges and grants receivable

    beginning of year $2,880,212 · end of year $2,541,556

  • 11 · Investments: publicly traded securities

    beginning of year $15,513,199 · end of year $17,919,285

  • 12 · Investments: other securities

    beginning of year $100,525,103 · end of year $106,761,817

  • 17 · Accounts payable and accrued expenses

    beginning of year $44,430 · end of year $191,110

  • 25 · Other liabilities

    beginning of year $86,596 · end of year $83,998

  • 27 · Net assets without donor restrictions

    beginning of year $23,427,923 · end of year $8,955,806

  • 28 · Net assets with donor restrictions

    beginning of year $99,860,130 · end of year $121,918,772

Mission and programs · 2023

Mission

THE FOUNDATION WAS ESTABLISHED TO ADVANCE THE MISSION AND GOALS OF FERRIS STATE UNIVERSITY BY GENERATING AND MANAGING PRIVATE SUPPORT FOR THE UNIVERSITY.

  • OUR MISSION IS ACCOMPLISHED THROUGH: A COMPREHENSIVE, AGGRESSIVE, AND ETHICAL PRIVATE FUNDRAISING PROGRAM TARGETED TOWARD IDENTIFIED UNIVERSITY NEEDS AND GOALS; AGGRESSIVE, YET PRUDENT, FISCAL MANAGEMENT OF LONG-TERM PRIVATE ASSETS; AND ENTHUSIASTIC AND ETHICAL ADVOCACY OF THE UNIVERSITY AMONG ALL ITS CONSTITUENTS.

    Expenses $7,808,230 · Grants $7,808,230

As filed on the 2023 return.

Listed in Part VII

  • SUSAN JONES

    BOARD MEMBER/PROFESSOR OF MARKETING

    Total calculated
    $252,361
    From this org
    $0
    From related orgs
    $208,815
    Other
    $43,546
    Hours/week
    0.3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $208,815 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $43,546 related
    Filer's total
    $0 + $252,361 related

  • MATTHEW BISSETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • KEVIN CROSS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • PAUL DOYLE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DENISE GRAVES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR JEAN K ELDER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR DANA KING

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR DAVID PILGRIM

    BOARD MEMBER/PROFESSOR OF SOCIOLOGY

    Total calculated
    $285,317
    From this org
    $0
    From related orgs
    $236,744
    Other
    $48,573
    Hours/week
    0.3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $236,744 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $48,573 related
    Filer's total
    $0 + $285,317 related

  • JENIFER CUTTER

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    0.3

  • ARLEN-DEAN GADDY

    CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • GARY GRANGER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • EMILY HANCOCK

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3

  • CHRISTINE VISNER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • KURT HOFMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR JOHN ENGELMAN II

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • ANDREW KALINOWSKI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • RUSSELL VISNER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • MATTHEW NAWROCKI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR THOMAS P SCHOLLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • RICHARD SHAW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • KEVIN SIMON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR ALTON SMITH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • HOWARD C STROSS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • JEREMY AMSHEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • SARAH CHADWICK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • SHANE NAPPER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DAVE NEITZER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • LAURIE PLACINCKI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • MICHAEL J VAN DIEPENBOS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR BILL PINK

    PRESIDENT, FERRIS STATE UNIVERSITY

    Total calculated
    $519,327
    From this org
    $0
    From related orgs
    $478,008
    Other
    $41,319
    Hours/week
    0.3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $478,008 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $41,319 related
    Filer's total
    $0 + $519,327 related

  • AMANDA MATHESON

    TREASURER

    Total calculated
    $77,167
    From this org
    $0
    From related orgs
    $66,556
    Other
    $10,611
    Hours/week
    1 + 40 related

  • JENNIFER TODD

    EXECUTIVE DIRECTOR

    Total calculated
    $100,861
    From this org
    $0
    From related orgs
    $79,292
    Other
    $21,569
    Hours/week
    20 + 40 related

  • KENNETH BAILEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • KATHY MULLINS

    EXECUTIVE BOARD/VP OF ADVANCEMENT

    Total calculated
    $231,581
    From this org
    $0
    From related orgs
    $194,617
    Other
    $36,964
    Hours/week
    0.3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,617 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $36,964 related
    Filer's total
    $0 + $231,581 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
29 April 2025
IRS schema version
2023v6.0
Source object
202501229349302100

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