Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1948.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
88 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
36 people listed on the 990; $913K paid to officers and key staff.
Dr Mirta M Martin’s $204K as President is at the 39th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Dr David Johns | — | — | $240,221 | $241,935 | $228,963 | $206,433 |
| Dr Mirta M Martin | $204,188 | $194,146 | — | — | — | — |
| Dr Aime Sposato | — | — | — | $147,134 | $180,572 | $180,283 |
| Christopher Burnley | — | — | — | — | — | $166,029 |
| Kevin Reilly | — | $153,019 | $137,022 | $108,322 | — | — |
| James Pennix | — | — | — | — | — | $146,659 |
| Barbara Hatcher | — | — | $143,536 | $143,586 | $107,859 | — |
| Wilson Paine | — | — | $130,404 | $138,204 | $136,880 | $108,985 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Offers undergraduate and graduate degrees, helping students find purpose and do good work.
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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.
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.
Academic Support
Ferrum strives to maximize the chance for student success by providing one-on-one support through tutoring, academic advising, academic counseling, coordinated study groups for most disciplines, individual attention and positive reinforcement. This service is provided by the academic resource center.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $11.1M | $15.1M |
| InvestmentsLn 11–13 | $40.3M | $39.1M |
| Land, buildings, equipmentLn 10c | $56.6M | $55.0M |
| Total assetsLn 16 | $124.8M | $125.6M |
| LiabilitiesLn 26 | $32.4M | $34.6M |
| Net assetsLn 32 | $92.4M | $91.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $21.4M | $21.4M | ||
| Pay of current officers, directors and key staffLn 5 | $1.3M | $200K | $936K | $157K |
| Other salaries and wagesLn 7 | $13.0M | $11.4M | $1.3M | $323K |
| Pension plan contributionsLn 8 | $46K | $36K | $8K | $2K |
| Other employee benefitsLn 9 | $2.1M | $1.2M | $857K | $31K |
| Payroll taxesLn 10 | $895K | $778K | $94K | $23K |
| Legal feesLn 11b | $54K | $54K | ||
| Accounting feesLn 11c | $70K | $70K | ||
| Investment management feesLn 11f | $86K | $86K | ||
| Other fees for servicesLn 11g | $668K | $527K | $141K | |
| Advertising and promotionLn 12 | $28K | $27K | $1K | |
| Office expensesLn 13 | $768K | $632K | $104K | $32K |
| Information technologyLn 14 | $2.6M | $2.0M | $588K | |
| OccupancyLn 16 | $3.1M | $3.1M | $5K | |
| TravelLn 17 | $502K | $475K | $23K | $4K |
| Conferences, conventions and meetingsLn 19 | $11K | $8K | $4K | |
| Depreciation, depletion and amortizationLn 22 | $2.3M | $2.3M | ||
| InsuranceLn 23 | $622K | $181K | $441K | |
| Other expenses (24a–d)Ln 24 | $3.3M | $2.5M | $669K | $101K |
| All other expensesLn 24e | $232K | $85K | $147K | $406 |
| Total functional expensesLn 25 | $53.1M | $46.9M | $5.5M | $673K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $43.2M | $47.7M | −$4.6M | $99.3M | 990 PDF |
| FY2023 | $43.5M | $48.4M | −$4.9M | $98.2M | 990 PDF |
| FY2022 | $48.9M | $51.6M | −$2.7M | $98.3M | 990 PDF |
| FY2021 | $55.1M | $50.7M | $4.4M | $107.0M | 990 PDF |
| FY2020 Viewing | $50.9M | $53.1M | −$2.2M | $91.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $50,862,337 revenue, 12 lines filed
Part VI · Governance 30 of 30 board members independent, 1 to look at
Part VIII · Statement of revenue $50,862,337 across 9 lines filed
Part IX · Statement of functional expenses $53,101,585 across 20 lines filed
Part X · Balance sheet $125,611,329 assets, 21 lines filed
Part XI · Reconciliation of net assets $91,054,482 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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