Totals
- Total revenue
- $43,150,167
- Total expenses
- $47,747,076
- Contributions and grants received
- $2,831,366
- Grants paid
- $18,894,999
- Program service revenue
- $36,863,697
- Investment income
- $2,488,057
- Other revenue
- $967,047
- Total assets, end of year
- $124,498,875
- Total liabilities, end of year
- $25,229,066
- Net assets or fund balances, end of year
- $99,269,809
- Program services expenses (Part IX)
- $42,173,197
- Management and general expenses
- $5,086,759
- Fundraising expenses
- $487,120
- Program service expenses (Part III)
- $42,173,197
Program services were 88.3% 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
$16,952
-
1e · Government grants (contributions)
$370,512
-
1f · All other contributions, gifts and grants
$2,443,902
-
1g · Noncash contributions included above
$116,552
-
2a · Program service revenue: TUITION & FEES
total $27,925,718 · related or exempt $27,925,718
-
2b · Program service revenue: AUXILIARY REVENUE
total $8,808,959 · related or exempt $8,469,836 · unrelated business $339,123
-
2c · Program service revenue: OTHER
total $129,020 · related or exempt $129,020
-
3 · Investment income
total $2,130,377 · excluded $2,130,377
-
5 · Royalties
total $11,445 · excluded $11,445
-
7a · Gross sales of assets other than inventory
securities $344,771 · other assets $12,909
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $0
-
7c · Gain or loss
securities $344,771 · other assets $12,909
-
7d · Net gain or loss
total $357,680 · related or exempt $12,909 · excluded $344,771
-
8a · Fundraising events: gross income
$94,912
-
8a · Fundraising events: contributions included on line 1c
$16,952
-
8b · Fundraising events: direct expenses
$24,765
-
8c · Net income from fundraising events
total $70,147 · excluded $70,147
-
10a · Gross sales of inventory
$152,592
-
10b · Cost of goods sold
$96,884
-
10c · Net income from sales of inventory
total $55,708 · related or exempt $67,529 · unrelated business -$11,821
-
11a · Other revenue: CHANGE IN FUNDS HELD IN TRUST
total $829,747 · related or exempt $829,747
-
11e · Other revenue, total
$829,747
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $18,894,999 · program services $18,894,999
-
5 · Compensation of officers, directors and key employees
total $1,724,389 · program services $762,832 · management and general $799,598 · fundraising $161,959
-
7 · Other salaries and wages
total $10,308,624 · program services $9,271,931 · management and general $925,284 · fundraising $111,409
-
9 · Other employee benefits
total $1,649,837 · program services $1,355,271 · management and general $279,297 · fundraising $15,269
-
10 · Payroll taxes
total $706,923 · program services $635,122 · management and general $65,699 · fundraising $6,102
-
11b · Fees: legal
total $34,059 · management and general $34,059
-
11c · Fees: accounting
total $73,100 · management and general $73,100
-
11f · Fees: investment management
total $117,342 · management and general $117,342
-
11g · Fees: other
total $409,832 · program services $351,563 · management and general $58,269
-
12 · Advertising and promotion
total $59,790 · program services $17,578 · management and general $42,212
-
13 · Office expenses
total $572,111 · program services $377,451 · management and general $151,099 · fundraising $43,561
-
14 · Information technology
total $1,478,285 · program services $99,065 · management and general $1,265,388 · fundraising $113,832
-
16 · Occupancy
total $3,172,132 · program services $3,164,198 · management and general $7,934
-
17 · Travel
total $498,760 · program services $471,022 · management and general $21,467 · fundraising $6,271
-
19 · Conferences, conventions and meetings
total $8,021 · program services $6,681 · management and general $1,340
-
22 · Depreciation, depletion and amortization
total $2,064,373 · program services $2,064,373
-
23 · Insurance
total $1,057,422 · program services $197,358 · management and general $860,064
-
24a · Other expenses: FOOD SERVICE
total $2,462,304 · program services $2,462,304
-
24b · Other expenses: PROGRAM
total $1,004,427 · program services $904,621 · management and general $87,023 · fundraising $12,783
-
24c · Other expenses: OTHER
total $654,504 · program services $413,251 · management and general $225,334 · fundraising $15,919
-
24d · Other expenses: COVID-19 RELATED EXPENS
total $623,277 · program services $623,277
-
24e · All other expenses
total $172,565 · program services $100,300 · management and general $72,250 · fundraising $15
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $116,958 · end of year $118,334
-
2 · Savings and temporary cash investments
beginning of year $9,899,812 · end of year $8,379,430
-
3 · Pledges and grants receivable
beginning of year $347,927 · end of year $475,957
-
4 · Accounts receivable
beginning of year $608,758 · end of year $1,450,206
-
7 · Other notes and loans receivable
beginning of year $4,155,957 · end of year $527,312
-
8 · Inventories for sale or use
beginning of year $509,660 · end of year $504,620
-
9 · Prepaid expenses and deferred charges
beginning of year $666,982 · end of year $957,096
-
10a · Land, buildings and equipment: cost or other basis
$102,467,590
-
10b · Land, buildings and equipment: accumulated depreciation
$50,447,831
-
10c · Land, buildings and equipment, net
beginning of year $52,478,530 · end of year $52,019,759
-
11 · Investments: publicly traded securities
beginning of year $42,659,070 · end of year $43,348,907
-
12 · Investments: other securities
beginning of year $1,434,445 · end of year $2,408,061
-
15 · Other assets
beginning of year $13,479,446 · end of year $14,309,193
-
17 · Accounts payable and accrued expenses
beginning of year $2,930,644 · end of year $1,109,756
-
19 · Deferred revenue
beginning of year $746,109 · end of year $918,992
-
20 · Tax-exempt bond liabilities
beginning of year $6,024,367 · end of year $5,400,276
-
23 · Secured mortgages and notes payable
beginning of year $17,729,185 · end of year $17,171,323
-
24 · Unsecured notes and loans payable
beginning of year $77,795 · end of year $85
-
25 · Other liabilities
beginning of year $644,378 · end of year $628,634
-
27 · Net assets without donor restrictions
beginning of year $43,972,713 · end of year $42,604,248
-
28 · Net assets with donor restrictions
beginning of year $54,232,354 · end of year $56,665,561
Mission and programs · 2023
Mission
WE ARE A DYNAMIC LEARNING COMMUNITY WHERE STUDENTS ENTER WITH A PROMISE AND LEAVE WITH A PURPOSE.
Activities or mission (Part I)
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.
-
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 32 MAJORS AND 41 MINORS, AS WELL AS A STUDENT-FACULTY RATIO OF 11:1. 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. THE COLLEGE ALSO OFFERS SEVERAL GRADUATE PROGRAMS. 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.
Expenses $25,361,745 · Grants $18,894,999 · Revenue $27,925,718
-
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 FERRUM 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.
Expenses $1,988,706
-
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.
Expenses $6,444,541
-
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.
Expenses $8,378,205 · Revenue $9,509,041
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
D Scott ShowalterD SCOTT SHOWALTER
CHAIR OF THE BOARD OF TRUS
- Total calculated
- $0
- Hours/week
- 4
-
W Jeffrey BookerW JEFFREY BOOKER
1ST VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.8
-
Everett FoxxEVERETT FOXX
2ND VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Amanda CoxAMANDA COX
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.8
-
John CougillJOHN COUGILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Judson P MasonJUDSON P MASON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Annita P NelsonANNITA P NELSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Baxter F Phillips JrBAXTER F PHILLIPS JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.8
-
Nancy WalshNANCY WALSH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
David ArringtonDAVID ARRINGTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Denise BatesDENISE BATES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Ronald E SingletonRONALD E SINGLETON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
F Abe DymondF ABE DYMOND
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Bishop Sue Haupert-JohnsonBISHOP SUE HAUPERT-JOHNSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Carl ClineCARL CLINE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Greg CraddockGREG CRADDOCK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Glynn LoopeGLYNN LOOPE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Dr Mirta M MartinDR MIRTA M MARTIN
PRESIDENT
- Total calculated
- $200,294
- From this org
- $194,146
- From related orgs
- $0
- Other
- $6,148
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $192,958
- Bonus
- $0
- Other
- $1,188
- Deferred
- $0
- Nontaxable benefits
- $6,148
- Filer's total
- $200,294
-
Joseph HanJOSEPH HAN
FORMER VP FOR BUSINESS AND FINANCE
- Total calculated
- $81,510
- From this org
- $77,646
- From related orgs
- $0
- Other
- $3,864
- Hours/week
- 40
-
Kevin ReillyKEVIN REILLY
PROVOST
- Total calculated
- $153,329
- From this org
- $153,019
- From related orgs
- $0
- Other
- $310
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $152,958
- Bonus
- $0
- Other
- $61
- Deferred
- $0
- Nontaxable benefits
- $310
- Filer's total
- $153,329
-
Lois WilliamsLOIS WILLIAMS
VP ENROLLMENT AND MARKETING
- Total calculated
- $144,293
- From this org
- $134,402
- From related orgs
- $0
- Other
- $9,891
- Hours/week
- 40
-
Lisa BowlingLISA BOWLING
VP FOR INSTITUTIONAL ADVANCEMENT
- Total calculated
- $126,118
- From this org
- $116,457
- From related orgs
- $0
- Other
- $9,661
- Hours/week
- 40
-
Angie DahlANGIE DAHL
VP OF STUDENT AFFAIRS
- Total calculated
- $115,779
- From this org
- $105,238
- From related orgs
- $0
- Other
- $10,541
- Hours/week
- 55
-
Jason PowellJASON POWELL
ASST VP OF ACADEMIC AFFAIR
- Total calculated
- $114,552
- From this org
- $103,040
- From related orgs
- $0
- Other
- $11,512
- Hours/week
- 55
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
- 1a · Travel for companions
- 1a · Tax indemnification and gross-up payments
- 1a · Housing allowance or residence for personal use
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
The filer's explanations (Part III)
- PART I, LINE 1A
- TRAVEL FOR COMPANIONS - CONTRACTUALLY, THE COLLEGE WILL PAY THE TRAVEL EXPENSES OF THE PRESIDENT'S FAMILY INCURRED WHEN THEY ACCOMPANY HER WHILE MAXIMUM AMOUNT ALLOWABLE IS $10,000.00 PER FISCAL YEAR. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE - THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AND IS PROVIDED A HOUSE WHICH IS ALSO USED TO ENTERTAIN GUESTS AT THE COLLEGE AND TO HOLD VARIOUS COLLEGE FUNCTIONS. THE ESTIMATED AMOUNT OF PERSONAL USE WOULD BE $8,000.00. THIS IS NOT CONSIDERED TAXABLE INCOME. THE PRESDIENT DID NOT RECEIVE ANY COMPANION PAY OR GROSS UP PAYMENTS IN FISCAL YEAR 2023-2024.
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
No itemized grants to organizations 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.
-
501(C)(3) · CULTURAL HISTORICAL EDUCATION AND PRESERVATION · VA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
REAL ESTATE DEVELOPMENT · VA
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
R-B LP
INVESTMENT INCOME · REAL ESTATE DEVELOPMENT · VA · 1% owned · general or managing partner
Directly controlled by ROBERTS-BECKHAM LLC
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
RS MOORE TESTAMENTARY TRUST FBO FERRUM COLLEGE
T · SUPPORT OF CHARITABLE PURPOSE OF FERRUM COLLEGE · VA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511359349306356
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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