Ferris Foundation

Nonprofit profile at a glance

EIN
386115813
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Big Rapids, MI, USA
Phone
2315912365
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$12,550,062
Expenses
$11,429,785
Assets
$135,070,689
Liabilities
$82,517

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

36 people listed

Executive titles in this filing

  • DR BILL PINK (PRESIDENT, FERRIS STATE UN)
  • JENNIFER TODD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DR BILL PINK (PRESIDENT, FERRIS STATE UN): $516,544 total reported compensation
  • DR DAVID PILGRIM (BOARD MEMBER/PROFESSOR OF): $285,087 total reported compensation
  • AMANDA MATHESON (TREASURER): $260,154 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation was established to advance the mission and goals of ferris state university by generating and managing private support for the university.

What it reported doing in 2024

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.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 60
  • Accountability: 87
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97%; rating input score 97
  • Fundraising efficiency: $438.92 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.6%; rating input score 93; 25th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.9%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 11.82; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 77; 77th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97% of spending went to programs
  • Governance: 25 of 27 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $11.1M in reported program spending
  • Leadership: top reported pay $517K · 36 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.