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FERRUM COLLEGE

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Public IRS 990 nonprofit record

FERRUM COLLEGE

EIN 54-0506457 · Education (B420)

What they do

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.

Before you give

Should I give to this charity?

Easy charity check
Look at where the money went

Of every $100 spent, about $85.00 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders26 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

87.94%of revenue went to mission work85.0% of expenses · Program services
1.17%of revenue went to fundraising1.1% of expenses
$103.49spent for every $100 of revenueSpending was higher than revenue this year.
14.38%of revenue went to management and office costs13.9% of expenses
$3.08in assets for every $1 spent this yearSome assets cannot be spent right away.
22.5%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

  1. Who did you help? Ask for a recent story or report that shows real results.
  2. What will my money do? Ask exactly what your gift will pay for.
  3. Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $1,396,452 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $223,255 for DR MIRTA M MARTIN (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$40,045,924
Mission workProgram services$35,214,97187.94% of revenue85.0% of expenses
ManagementOffice and general costs$5,759,75814.38% of revenue13.9% of expenses
FundraisingAsking for donations$467,6471.17% of revenue1.1% of expenses
Total expenses$41,442,376103.49% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails
2024CurrentExpense mix: 85.0% mission · 13.9% management · 1.1% fundraisingTotal expenses: 103.49% of revenue
2023Expense mix: 88.3% mission · 10.7% management · 1.0% fundraisingTotal expenses: 110.65% of revenue
2022Expense mix: 86.6% mission · 12.1% management · 1.4% fundraisingTotal expenses: 111.36% of revenue
2021Expense mix: 88.4% mission · 10.4% management · 1.2% fundraisingTotal expenses: 105.44% of revenue
2020Expense mix: 87.6% mission · 11.2% management · 1.2% fundraisingTotal expenses: 92.07% of revenue
2019Expense mix: 88.3% mission · 10.4% management · 1.3% fundraisingTotal expenses: 104.40% of revenue
2018Expense mix: 88.5% mission · 10.9% management · 0.6% fundraisingTotal expenses: 103.33% of revenue
2017Expense mix: 87.8% mission · 10.9% management · 1.3% fundraisingTotal expenses: 104.47% of revenue

Money in and money out

Revenue$40,045,924
Expenses$41,442,376
Annual shortfall $1,396,452 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$35,214,971 · 85.0% of expenses
Management and office costs$5,759,758 · 13.9% of expenses
Fundraising$467,647 · 1.1% of expenses
See all reported dollar amounts
Revenue$40,045,924
Expenses$41,442,376
Assets$127,530,844
Income$40,514,267
Contributions$8,990,855
Mission work (program services)$35,214,971
Fundraising$467,647
Management and general$5,759,758
Stocks and bonds$47,638,307
Accounting fees$78,071
Investing fees$122,668
People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation
DR MIRTA M MARTINPRESIDENT · 55 hrs/week $223,255Base $204,188 · Other $19,067
LISA BOWLINGVP FOR INSTITUTIONAL ADVAN · 40 hrs/week $142,362Base $130,049 · Other $12,313
MARK POOREVICE PRESIDENT OF TECHNOLOGY · 40 hrs/week $126,384Base $125,879 · Other $505
DELIA HECKPROVOST · 55 hrs/week $123,718Base $111,138 · Other $12,580
JASON POWELLASSOC VP ACADEMIC AFFAIRS · 40 hrs/week $116,795Base $104,215 · Other $12,580
MELODY SHARPDIRECTOR OF NURSING · 40 hrs/week $108,825Base $100,836 · Other $7,989
JESSICA LUTHERASSOC CHIEF ACCOUNTING OFFICER/CFO · 55 hrs/week $95,435Base $84,509 · Other $10,926
FRANCES DYMONDCHIEF LEGAL OFFICER · 20 hrs/week $5,216

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (26)

DR MIRTA M MARTINPRESIDENT

LISA BOWLINGVP FOR INSTITUTIONAL ADVAN

MARK POOREVICE PRESIDENT OF TECHNOLOGY

DELIA HECKPROVOST

JASON POWELLASSOC VP ACADEMIC AFFAIRS

MELODY SHARPDIRECTOR OF NURSING

JESSICA LUTHERASSOC CHIEF ACCOUNTING OFFICER/CFO

FRANCES DYMONDCHIEF LEGAL OFFICER

GERARD ROBINSONTRUSTEE

W JEFFREY BOOKER1ST VICE CHAIR

REV DR SARAH CALVERTTRUSTEE

NANCY WALSHTRUSTEE

JUDSON MASONTRUSTEE

JOHN P COUGILLTRUSTEE

JAMIE GREENTRUSTEE

GLENN LOOPETRUSTEE

AMANDA COXSECRETARY

F ABE DYMONDTRUSTEE

EVERETT FOXX2ND VICE CHAIR

DR KAREN MCELFISHTRUSTEE

DAVID ARRINGTONTRUSTEE

D SCOTT SHOWALTERCHAIR OF THE BOARD OF TRUS

CLYDE HOLLAND PERDUE IIITRUSTEE

BISHOP SUE HAUPERT-JOHNSONTRUSTEE

BAXTER F PHILLIPS JRTRUSTEE

ANNITA P NELSONTRUSTEE

About this charity

Recognized since
January 1948
Location
PO BOX 1000, FERRUM, VA 24088-9001
County
Franklin
In care of
DR MIRTA M MARTIN
Primary officer
DR MIRTA M MARTIN, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Phone(540) 365-4231

Filing and classification

Latest tax year
2024
Tax period began
July 1, 2024
Return type
990
Tax preparer
BROWN EDWARDS & COMPANY LLP
NTEE classification
Education (B420)

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About this report: Information comes from public nonprofit records and may show the latest filing available.

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