Ferris Foundation FY2024 filing

Supporting organization Big Rapids, MI Since 1991 EIN 38-6115813
Revenue
$10.8M
▲ +29%
FY2024 · Pt VIII · Ln 12
Expenses
$8.4M
▲ +17%
FY2024 · Pt IX · Ln 25
Net assets
$130.9M
FY2024 · Pt X · Ln 32
To programs
93%
FY2024 · Pt IX · col B
Revenue & expenses by yearFY2021–FY2024
Revenue
$10.8M
FY2024▲ +29%
Expenses
$8.4M
FY2024▲ +17%

Raises and manages private donations to support Ferris State University's mission and goals.

Is this your organization?
Claim it free, then get the verified mark.
Claim
Tax-deductible?
Yes
Per the IRS master file. Details →
Can I give now?
No revocation on IRS record
Not on the IRS revocation list. Details →
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
7 funders, incl. Fidelity Investments Charitable Gift Fund
$255K in the latest grant year. Details →
Spent on programs?
93% to programs
Form 990 Part IX, latest filing. Details →
Size and trend
$10–100M
↑ +29% vs prior year Details →

Form 990 for the fiscal year ending June 2024 (IRS tax year 2023).


Raises and manages private donations to support Ferris State University's mission and goals.

Founded
1991
Type
Supporting organization · Nonprofit
Location
Big Rapids, MI
Website
www.ferris.edu/foundation
Filings
4 on file (2021–2024)
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →
Compare with another nonprofit →
Figures match the IRS filing checked 7/22/26 · see original: IRS
Provided by the organization

This section is blank until Ferris Foundation claims this page.

Know this organization? Claim it to add your story

Where the money goes · FY2024
Where spending went · Part IX cols B–D
Program services $0.93 Management & general $0.06 Fundraising $0.01
Net inflow
+23%
revenue over expenses, this year
Pass-through gifts
47%
of revenue from contributions
Program spending
93%
of expenses reach stated programs

Similar organizations you could support

Closest in mission — by what they do
See all organizations like Ferris Foundation →

Run this organization? Claim this page

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$131.1M
FY2024▲ +6%
Total liabilities
$275K
FY2024▲ +110%
Revenue less expensesPt I · Ln 19$2.4M
Total assetsPt X · Ln 16$131.1M
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 329
Independent voting membersPt I · Ln 427

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CFerris Foundation
EINHdr · item D38-6115813
Principal addressHdr · item CBig Rapids, MI
WebsiteHdr · item Jwww.ferris.edu/foundation
Year of formationHdr · item L1991
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFAug 1966

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a29
Independent voting membersPt VI · Ln 1b27
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Board Member/Professor of Marketing
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member/Professor of Sociology
$0Pt VII · Sec A
See Ferris Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Mission & Programs · Part III

Where the work happens

1 program service account for $7.8M of program spending, described in the organization's own filed words · FY2023.
01

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.

$7.8Mprogram expense

Run this program? Claim this org to tell your story

Statement of Revenue

Part VIII
Investment income$5.8M · 54%
Contributions & grants$5.1M · 47%
Investment income54%$5.8M
Contributions & grants47%$5.1M
Total revenueLn 12$10.8M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.06 Fundraising $0.01
Program services93%$7.8M
Management & general6%$467K
Fundraising1%$96K
Total functional expensesLn 25$8.4M

Balance Sheet

Part X · end of year
CashLn 1$3.9M
Total assetsLn 16$131.1M
Total liabilitiesLn 26$275K
Total net assetsLn 32$130.9M
Months of cash on handcomputed5.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $128.6M · Operating expenses (Pt IX) $8.4M · Less non-cash grants $1.4M · Cash operating expenses/yr $7.0M
221.0 months
Where the money goes
Program services
Program services $7.8M · Total expenses $8.4M
93%
Management & General
Management & general $467K · Total expenses $8.4M
6%
Fundraising
Fundraising $96K · Total expenses $8.4M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $137K · Solicited contributions (3-yr avg) $6.1M
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $5.1M · Total revenue $10.8M
47%
Government reliance
Government grants — · Total revenue $10.8M
—
Earned-income share
Program service revenue $0 · Total revenue $10.8M
0%
Investment reliance
Investment income $5.8M · Total revenue $10.8M
+54%
Program self-sufficiency
Program service revenue $0 · Total expenses $8.4M
0%
Growth & trend
Revenue growth (YoY)
This year $10.8M · Prior year $8.4M
+29%
Net-asset trend (YoY)
End of year $130.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $10.8M · Expenses $8.4M
+23%
Liabilities-to-Assets
Total liabilities — · Total assets $131.1M
—
Net-asset ratio
Net assets $130.9M · Total assets $131.1M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $17.9M · Other securities (Pt X, ln 12) $106.8M · Total assets (Pt X, ln 16) $131.1M
95%
People & payroll
Highest Reported Total Compensation
Individual Susan Jones · Reported title BOARD MEMBER/PROFESSOR OF MARKETING · Highest reported compensation $0 · Total expenses $8.4M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $8.4M
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 93%——
Overhead ratio 6%——
Fundraising cost ratio 2%——
Revenue growth 29%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 7 funders →
Grants paid · 6 grants · $39.1M · 2020–2024
Ferris State UniversityMI · FY2024$8,942,864
Ferris State UniversityMI · FY2023$6,525,506
Ferris State UniversityMI · FY2022$5,626,641
Ferris State UniversityMI · FY2021$6,619,762
Ferris State UniversityMI · FY2020$5,697,608
Ferris State UniversityMI · FY2020$5,697,608

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$10.8M revenue · viewing · ⤓ 990 PDF
FY2023$8.4M revenue · ⤓ 990 PDF
FY2022$13.0M revenue · ⤓ 990 PDF
FY2021$10.7M revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.