Ferrum College

Nonprofit profile at a glance

EIN
540506457
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Ferrum, VA, USA
Phone
(540) 365-4211
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$40,045,924
Expenses
$41,442,376
Assets
$127,530,844
Liabilities
$24,279,885

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

Leadership & pay

26 people listed

Executive titles in this filing

  • DR MIRTA M MARTIN (PRESIDENT)
  • MARK POORE (VICE PRESIDENT OF TECHNOLOGY)

Highest reported compensation

  • DR MIRTA M MARTIN (PRESIDENT): $223,255 total reported compensation
  • LISA BOWLING (VP FOR INSTITUTIONAL ADVAN): $142,362 total reported compensation
  • MARK POORE (VICE PRESIDENT OF TECHNOLOGY): $126,384 total reported compensation

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

Overview

Mission

Ferrum College is a private, four-year, liberal arts college affiliated with the United Methodist Church. The College provides a transformative educational experience that fosters intellectual curiosity, personal growth, and social responsibility.

What it reported doing in 2024

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. Athletics - ferrum college considers intercollegiate athletics to be an integral part of the college experience and seeks to provide positive and enriching programs that complement and reinforce the educational pursuits, academic success, and athletic excellence of student athletes. Admissions promotes ferrum college through various marketing programs including mailings, attendance at various high school college fairs, and personal tours of the campus in order to enroll students. Financial aid complements the admissions process by working with families to secure financial resources required for attendance. Registrar assists as well by verifying the academic credentials of potential students and then follows the student through their academic progress to graduation. Tri-area community health center (3rd party partner) and ferrum college counseling services provide health services to our students.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for 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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 96
  • Sustainability: 47
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.1%; rating input score 88
  • Program expense ratio: 85%; rating input score 85
  • Fundraising efficiency: $19.23 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • 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: 94.1%; rating input score 94; 27th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.5%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 3.08; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: -2.1% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 16th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 88.1% of revenue deployed · 85% of spending went to programs
  • Governance: 16 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $35.2M in reported program spending
  • Leadership: top reported pay $223K · 26 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.5M reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 12 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.