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
87 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
32 people listed on the 990; $970K 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 2No
- 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.
Questions for Ferrum College
Your first name shows with your question. Ferrum College answers here, for everyone.
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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 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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $13.3M | $10.0M |
| InvestmentsLn 11–13 | $45.3M | $44.1M |
| Land, buildings, equipmentLn 10c | $52.8M | $52.5M |
| Total assetsLn 16 | $126.7M | $126.4M |
| LiabilitiesLn 26 | $28.3M | $28.2M |
| Net assetsLn 32 | $98.3M | $98.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $17.9M | $17.9M | ||
| Pay of current officers, directors and key staffLn 5 | $1.0M | $449K | $558K | |
| Other salaries and wagesLn 7 | $11.5M | $10.0M | $1.0M | $471K |
| Other employee benefitsLn 9 | $1.8M | $1.2M | $626K | $38K |
| Payroll taxesLn 10 | $816K | $711K | $70K | $35K |
| Legal feesLn 11b | $49K | $49K | ||
| Accounting feesLn 11c | $70K | $70K | ||
| Investment management feesLn 11f | $110K | $110K | ||
| Other fees for servicesLn 11g | $1.2M | $380K | $773K | |
| Advertising and promotionLn 12 | $31K | $14K | $17K | |
| Office expensesLn 13 | $890K | $695K | $157K | $38K |
| Information technologyLn 14 | $1.3M | $111K | $1.1M | $46K |
| OccupancyLn 16 | $3.1M | $3.0M | $15K | |
| TravelLn 17 | $681K | $648K | $23K | $10K |
| Conferences, conventions and meetingsLn 19 | $27K | $26K | $795 | |
| Depreciation, depletion and amortizationLn 22 | $2.0M | $2.0M | ||
| InsuranceLn 23 | $716K | $214K | $502K | |
| Other expenses (24a–d)Ln 24 | $5.0M | $4.4M | $572K | $20K |
| All other expensesLn 24e | $284K | $110K | $174K | $405 |
| Total functional expensesLn 25 | $48.4M | $41.9M | $5.9M | $658K |
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 Viewing | $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 | $50.9M | $53.1M | −$2.2M | $91.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $43,486,308 revenue, 12 lines filed
Part VI · Governance 24 of 24 board members independent, no flags
Part VIII · Statement of revenue $43,486,308 across 12 lines filed
Part IX · Statement of functional expenses $48,426,770 across 19 lines filed
Part X · Balance sheet $126,357,545 assets, 21 lines filed
Part XI · Reconciliation of net assets $98,205,067 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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