Ferrum College

Analysis

Ferrum College is a registered charity in United States, based in Ferrum, VA. It received its IRS tax-exemption ruling in September 1948, 78 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ferrum College reported income of $43.5m and spending of $48.4m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $52.1m to $43.5m (-16%), an average of -4.4% a year. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ferrum College sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within VA. Charities of a similar size with the same main cause include Lakeland University Inc ($43.5m), Idea Public Schools Louisiana Inc ($43.5m) and Montana Technological University Foundation ($43.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $1.0m (2.1% of expenses). Other salaries and wages came to $11.5m. At year end it held assets of $126.4m against liabilities of $28.2m, net assets of $98.2m. It reported 717 employees.