2022-05-09T13:37:22-05:00 2021-06-30 540504608 BROWN EDWARDS & COMPANY LLP 105 ARBOR DRIVE 3RD FLOOR CHRISTIANSBURG VA 24073 990 2020-07-01 540506457 FERRUM COLLEGE FERR 5403664231 P O BOX 1000 FERRUM VA 24088 BARBARA HATCHER VP FOR BUSINESS AND FINANCE 5403664231 2022-05-08 1 BARBARA HATCHER XXX-XX-XXXX MARK WOOLWINE P00647446 5404433606 2022-05-08 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z BARBARA HATCHER P O BOX 1000 FERRUM VA 24088 55333944 0 X WWW.FERRUM.EDU X 1914 VA FERRUM COLLEGE IS A PRIVATE LIBERAL ARTS INSTITUTION THAT PROVIDES BOTH UNDERGRADUATE AND GRADUATE DEGREES. WE ARE A DYNAMIC LEARNING COMMUNITY WHERE STUDENTS ENTER WITH PROMISE AND LEAVE WITH PURPOSE. THE MISSION IS SUPPORTED BY OUR VISION TO INSPIRE EVERYONE TO DO GOOD WORK, BUILD GOOD FUTURES, AND LIVE GOOD LIVES. THROUGH GENEROSITY OF SPIRIT, BEING A COMMUNITY THAT CONNECTS AND INSPIRES, PROVIDING OPPORTUNITY, REGARDLESS OF BACKGROUND, AND EXHIBITING RESILIENCE THROUGH INNOVATION AND RESOURCEFULNESS, WE STRENGTHEN OUR MISSION AND VISION. OUR ONE PRIORITY IS TO FULFILL THE PROMISE OF COLLEGE BY PROVIDING PATHWAYS TO MEANINGFUL WORK, MAKING EDUCATION ATTAINABLE, AND STAYING CONNECTED FOR A LIFETIME. 28 27 740 0 119373 0 3475184 7643828 46166552 43822207 1372332 804100 -151731 2825097 50862337 55095232 21397026 20895551 0 0 17356103 15117212 0 0 601798 14348456 14711906 53101585 50724669 -2239248 4370563 125611329 138488654 34556847 31535326 91054482 106953328 X WE ARE A DYNAMIC LEARNING COMMUNITY WHERE STUDENTS ENTER WITH A PROMISE AND LEAVE WITH A PURPOSE. 0 0 28385499 20895551 33893448 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. THE CURRICULUM INCLUDES OPPORTUNITIES FOR CAREER PREPARATION AS WELL AS PERSONAL DEVELOPMENT IN ORDER TO HELP EACH STUDENT FULFILL HIS OR HER PERSONAL EDUCATIONAL GOALS. FERRUM COLLEGE OFFERS 28 MAJORS AND 39 MINORS, AS WELL AS A STUDENT-FACULTY RATIO OF 13:1. THE COLLEGE STRIVES TO PROVIDE PRE-PROFESSIONAL LEARNING OPPORTUNITIES BY OFFERING A WIDE ARRAY OF INTERNSHIPS IN ITS MAJORS. FERRUM STUDENTS GET HANDS-ON LEARNING EXPERIENCE DURING AN EXPERIENTIAL TERM, A THREE-WEEK SUMMER TERM THAT FOCUSES ON UNIQUE LEARN-BY-DOING EXPERIENCES. IN FALL 2020, THE COLLEGE LAUNCHED TWO GRADUATE PROGRAMS WITH PLANS TO EXPAND OFFERINGS IN SUBSEQUENT YEARS. FERRUM COLLEGE PROVIDES ONE-ON-ONE SUPPORT THROUGH TUTORING, ACADEMIC ADVISING AND ACADEMIC COUNSELING THROUGH THE CARTER CENTER FOR ACADEMIC SUCCESS. THE COLLEGE ALSO OPERATES A FITNESS CENTER THAT PROVIDES OPPORTUNITIES FOR SUTDENTS TO PUT INTO PRACTICE WHAT THEY ARE LEARNING IN THE CLASSROOM. 1329680 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. THE LIBRARY ALSO HAS A SUFFICIENT PRINT COLLECTION, A LEARNING COMMONS STUDY AREA, FULL RANGE OF RESOURCE SHARING SERVICES, AND OTHER QUIET STUDY AREAS. THE MICHAEL CHRISTIAN '63 FOR FIRST-YEAR EXPERIENCE IS DESIGNED TO HELP STUDENTS ADJUST TO FERRUM COLLEGE AND OBTAIN THE NECESSARY SKILLS TO BECOME A SUCCESSFUL COLLEGE STUDENT. THE PROGRAM ENGAGES NEW STUDENTS TO CULTIVATE A BETTER UNDERSTANDING OF THE LEARNING PROCESS, AND TO TAKE ADVANTAGE OF THE CAMPUS RESOURCES AND COMMUNITY AVAILABLE TO THEM. THE STATE CENTER FOR BLUE RIDGE FOLKLORE, FERRUM COLLEGE'S BLUE RIDGE INSTITUTE AND MUSEUM (BRIM) HAS DOCUMENTED THE FOLKWAYS OF THE PEOPLE LIVING IN AND AROUND THE BLUE RIDGE MOUNTAINS. THE BRIM ADDS A UNIQUE ELEMENT TO FERREM COLLEGE'S MODERN ACADEMIC PROGRAMS. THESE SERVICES ARE PROVIDED FREE OF CHARGE TO STUDENTS. THE BLUE RIDGE INSTITUTE FARM MUSEUM IS AVAILABLE TO THE GENERAL PUBLIC FOR A SMALL FEE. 6723882 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. 7998473 12484730 AUXILIARIES - THE TWO MAJOR AREAS OF AUXILIARIES ARE RESIDENCE LIFE AND DINING SERVICES. RESIDENCE LIFE INCLUDES RESIDENTIAL FACILITIES AND STAFF THAT SUPPORT THE ON CAMPUS STUDENT HOUSING EXPERIENCE. DINING SERVICES INCLUDES COST OF MEAL PLANS AND EQUIPMENT REPLACEMENT OR REPAIRS. OTHER AUXILIARY ITEMS INCLUDE THE CAMPUS SPIRIT STORE, SUMMER PROGRAMS, AND FACULTY/STAFF RENTAL HOUSING. 7998473 12484730 44437534 1 1 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 1 0 1 1320 0 1 740 1 1 1 0 0 0 1 1 1 1 0 0 0 0 X 28 27 1 0 1 0 0 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 5403654231 215 FERRUM MOUNTAIN RD ROOM 108 FERRUM VA 24088 D SCOTT SHOWALTER CHAIR OF THE BOARD OF TRUSTEES 1.00 X X 0 0 0 W JEFFREY BOOKER 1ST VICE CHAIR 0.80 X X 0 0 0 SUZANNE BELL TRUSTEE 0.50 X 0 0 0 SUZANNE M BOLTZ TRUSTEE 0.50 X 0 0 0 JOHN COUGILL TRUSTEE 0.50 X 0 0 0 JUDSON P MASON TRUSTEE 0.80 X 0 0 0 ANNITA P NELSON TRUSTEE 0.50 X 0 0 0 BAXTER F PHILLIPS JR TRUSTEE 0.80 X 0 0 0 MARY JANE RAWLEY TRUSTEE 0.50 X 0 0 0 CAROLYN L SMITH TRUSTEE 0.50 X 0 0 0 MARILYN H WEST TRUSTEE 0.50 X 0 0 0 HON MARTIN E WILLIAMS TRUSTEE 0.50 X 0 0 0 BRUCE WHITEHURST TRUSTEE 0.50 X 0 0 0 GEORGE D YANCEY TRUSTEE 0.80 X 0 0 0 VICKI GARDNER TRUSTEE 0.50 X 0 0 0 ANN KLOTZ TRUSTEE 0.50 X 0 0 0 GLENN ROWLEY TRUSTEE 0.50 X 0 0 0 DAVID ARRINGTON TRUSTEE 0.50 X 0 0 0 DENISE BATES TRUSTEE 0.50 X 0 0 0 JEFF DAVOUD TRUSTEE 0.50 X 0 0 0 TWYLA TATUM TRUSTEE 0.50 X 0 0 0 TERESA WATSON TRUSTEE 0.50 X 0 0 0 SHARMA D LEWIS TRUSTEE 0.50 X 0 0 0 BERNICE COBBS 2ND VICE CHAIR 0.50 X X 0 0 0 SUZANNE SMITH SECRETARY 0.50 X X 0 0 0 PHYLLIS KARAVATAKIS TRUSTEE 0.50 X 0 0 0 JEFFREY H KNOTTS TRUSTEE 0.50 X 0 0 0 RONALD E SINGLETON TRUSTEE 0.80 X 0 0 0 DR DAVID JOHNS PRESIDENT 60.00 X 228963 0 7651 DR AIME SPOSATO PROVOST 55.00 X 180572 0 749 BARBARA HATCHER VP FOR BUSINESS AND FINANCE 55.00 X 107859 0 4712 WILSON PAINE VP FOR INSTITUTIONAL ADVAN 55.00 X 136880 0 6262 CHRISTOPHER CHANDLER DIRECTOR OF HUMAN RESOURCE 55.00 X 104814 0 7589 JOHN SUTYAK DIRECTOR OF ATHLETICS 55.00 X 110632 0 6099 869720 0 33062 8 0 1 0 ALADDIN FOOD MGMT SERVICES LLC 16567 COLLECTIONS CENTER DR CHICAGO IL 60693 DINING SERVICES 2333537 ELLUCIAN INC 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 TECHNOLOGY SOLUTIONS 290520 SPARK 451-865 MERRICK AVE SUITE 451 WESTBURY NY 11590 ADMISSIONS MARKETING 197666 ABBOTT BUS LINES 1703 GRANBY ST NE ROANOKE VA 210125603 TRANSPORTATION SERVICES 159298 HOFFMAN HEATING AND AIR 594 HIGH VIEW LN CHATHAM VA 24531 HVAC SERVICES 114000 9 24265 5300877 2318686 242658 7643828 TUITION & FEES 611310 33893448 33893448 AUXILIARY REVENUE 611710 9742919 9660470 82449 OTHER 900099 185840 159996 25844 43822207 661116 661116 1576 1576 247958 800 0 105774 247958 -104974 142984 -104974 247958 74218 24265 29439 44779 44779 156630 103499 53131 42051 11080 CHANGE IN FUNDS HELD IN TRUST 900099 2725611 2725611 2725611 55095232 46378178 119373 953853 20895551 20895551 989238 826507 162731 11268618 10120829 832822 314967 1440 1440 2054201 1101432 921575 31194 803715 701585 78734 23396 44371 44371 65244 65244 90832 90832 400058 299788 100270 23937 23737 200 710291 513722 165343 31226 691160 113256 577904 2867977 2862244 5733 224236 217246 5758 1232 28864 26640 2224 2056736 2056736 564230 161954 402276 FOOD SERVICE 2234698 2234698 OTHER 2060746 623411 1416907 20428 COVID-19 RELATED EXPENS 1875555 1875555 PROGRAM 584201 526318 41259 16624 188770 82832 105938 50724669 44437534 5685337 601798 1576334 813504 13508647 15082996 338987 282521 664980 653439 1419080 1088817 411721 406886 421637 488609 99669053 46148917 54988394 53520136 37452640 48201717 1645156 2040665 13183753 15909364 125611329 138488654 2364409 3121643 515049 760250 7767514 7207222 19296531 18791039 3963749 961904 649595 693268 34556847 31535326 X 40808135 43494676 50246347 63458652 91054482 106953328 125611329 138488654 4370563 11528283 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1 100 0 0 0 0 1 3000 3100 0 PART II-B, LINE 1: PART 11-B, LINE 1D: CONSERVATIVE ESTIMATE FOR STATIONARY AND POSTAGE FOR VARIOUS CORRESPONDENCE. PART 11-B, LINE 1I: FERRUM COLLEGE IS A MEMBER OF THE COUNCIL OF INDEPENDENT COLLEGES OF VIRGINIA (CICV). WE ESTIMATE THAT $3,000 OF OUR ANNUAL DUES TO THE CICV ARE FOR LOBBYING ACTIVITIES. X X X X 1 172.00 1 1 72.00 6000 3250 483430 X X X X 0 52306519 1157995 15226382 1522556 840311 181489 66146540 53671188 373679 2110892 2646364 1031714 171162 52306519 52886524 1029766 3572838 2477659 1165868 174413 53671188 51075652 442531 4321125 1787773 990294 174717 52886524 45448770 1140877 6868424 1476445 750273 155701 51075652 0.07560 0.64280 0.28160 0 1 1 675003 675003 79029733 30732846 48296887 12491426 10740373 1751053 7472891 4675698 2797193 53520136 ENDOWMENT HELD IN TRUST BY OTHERS 15909364 15909364 ANNUITY OBLIGATIONS 114044 AMOUNTS HELD ON BEHALF OF OTHERS 204992 ASSET RETIREMENT OBLIGATIONS 486385 DEFERRED LOAN COST, NET OF AMORTIZATION -112153 693268 X 43380838 11528283 11528283 31852555 90832 23151845 23242677 55095232 27481992 0 27481992 90832 23151845 23242677 50724669 PART II, LINE 9: FERRUM COLLEGE DOES NOT REPORT ANY VALUE FOR THE CONSERVATION EASEMENTS IN ITS REVENUE OR EXPENSE, NOR DOES IT REPORT ANY VALUE FOR THE CONSERVATION EASEMENT ON THE BALANCE SHEET. CONSEQUENTLY, THERE ARE NO FOOTNOTES TO THE FINANCIAL STATEMENTS. PART III, LINE 4: THE MAJORITY OF OUR FINE ARTS ARE LOCATED AT THE BLUE RIDGE INSTITUTE WHICH IS A MUSEUM OF ARTIFACTS EXHIBITING THE HISTORY AND CULTURE OF COMMUNITIES IN THE BLUE RIDGE MOUNTAINS. THIS COLLECTION PROVIDES EDUCATION FOR STUDENTS AND THE PUBLIC AND PRESERVES THE TRADITIONS OF THE AREA FOR FUTURE GENERATIONS. THE COLLEGE ALSO HAS AN ART COLLECTION THAT IS USED BY THE ART DEPARTMENT AS AN EDUCATIONAL TOOL AND IS ALSO DISPLAYED THROUGHOUT CAMPUS FOR PUBLIC APPRECIATION. THERE IS ALSO AN AMERICAN BRILLIANT CUT GLASS COLLECTION THAT IS SECURELY DISPLAYED FOR PUBLIC APPRECIATION. PART V, LINE 4: THE ENDOWMENT PROVIDES SUPPORT FOR SCHOLARSHIPS AND OTHER OPERATING EXPENSES INCLUDING FACULTY DEVELOPMENT, MAINTENANCE, DEBT SERVICE, AND PROGRAMMING, TO NAME A FEW. THE COLLEGE CONTINUES TO APPLY PRUDENCE WHEN SPENDING FROM THE ENDOWMENT WHILE PRESERVING SPENDING POWER IN THE FUTURE. THE OPERATIONAL ENDOWMENT DRAW FOR 2020 WAS 5.0% OF A THREE-YEAR AVERAGE VALUE ON FUNDS THAT WERE NOT "UNDERWATER". PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FEDERAL FORM 990S OF THE COLLEGE FOR THE FISCAL YEARS 2020, 2019, AND 2018 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN US 20,895,551. COVID-19 RELATED EXPENSES 1,875,555. LEGAL AND SEVERANCE PAYMENTS 513,676. COST OF GOODS SOLD CAMPUS STORE AND FUNDRAISING EXPENSES -132,937. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN US 20,895,551. LEGAL AND SEVERANCE PAYMENTS 513,676. COVID-19 RELATED EXPENSE 1,875,555. COST OF GOODS SOLD CAMPUS STORE AND FUNDRAISING EXPENSES -132,937. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 FERRUM COLLEGE PUBLICIZES ITS RACIALLY NON DISCRIMINATORY POLICY ON THE WEBSITE, AS WELL AS ADMISSIONS MATERIAL AND CORRESPONDENCE, AND THE FERRUM COLLEGE ANNUAL REPORT. STUDENT ENROLLMENT DATA FROM FALL 2021 IS EVIDENCE OF A WELL KNOWN NON -DISCRIMINATORY POLICY BASED ON CAUCASIAN POPULATION OF ONLY 54.0% OF TOTAL ENROLLMENT. SCHEDULE E, PART I, LINE 6 FERRUM COLLEGE RECEIVES STUDENT FINANCIAL AID FROM THE FEDERAL AND STATE GOVERNMENT AS WELL AS VARIOUS GRANTS AWARDED TO THE COLLEGE BASED ON GRANT PROPOSALS SUBMITTED FROM THE COLLEGE. GOLF TOURNAMENT 35652 35652 19537 RAFFLE 30851 30851 2450 3441 4 31980 24265 7715 264 3747 98483 24265 74218 2450 264 26725 29439 44779 1 SCHOLARSHIPS TO STUDENTS 988 20895551 FMV N/A PART I, LINE 2: GRANTS ARE MONITORED BY VARIOUS AREAS. FINANCIAL AID GRANTS ARE MONITORED BY THE FINANCIAL AID DIRECTOR TO ENSURE COMPLIANCE WITH ELIGIBILITY, SELECTION, AND DISTRIBUTION. DOCUMENTATION IS MAINTAINED AND AUDITED ANNUALLY. THE INSTITUTION AWARDS GRANTS TO STUDENTS BASED ON CRITERIA SET FORTH IN INDIVIDUAL SCHOLARSHIPS. THE CRITERIA IS EXPLAINED IN THE COLLEGE CATALOG. ANY "NEED BASED" GRANT IS BASED ON THE INFORMATION OBTAINED FROM THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). OTHER DEPARTMENT GRANTS ARE MONITORED BY THE RESPONSIBLE PARTY TO ENSURE THAT EXPENDITURES COMPLY WITH GRANT REQUIREMENTS. PART III THE INSTITUTION AWARDS GRANTS TO STUDENTS BASED ON CRITERIA SET FORTH IN THE INDIVIDUAL SCHOLARSHIPS. THIS CRITERIA IS EXPLAINED IN THE COLLEGE CATALOG. ANY "NEED BASED" GRANT IS BASED ON THE INFORMATION OBTAINED FROM THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR DAVID JOHNS PRESIDENT 201245 0 0 0 27718 0 0 0 7651 0 236614 0 0 0 DR AIME SPOSATO PROVOST 179917 0 0 0 655 0 0 0 749 0 181321 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - CONTRACTUALLY, THE COLLEGE WILL PAY THE TRAVEL EXPENSES OF THE PRESIDENT'S FAMILY INCURRED WHEN THEY ACCOMPANY HIM WHILE HE IS REPRESENTING THE COLLEGE OR ATTENDING PROFESSIONAL MEETINGS. THE MAXIMUM AMOUNT ALLOWABLE IS $10,000.00 PER FISCAL YEAR. THESE EXPENSES ARE CONSIDERED TAXABLE INCOME FOR THE PRESIDENT. THE AMOUNT REPORTED ON HIS W-2 FOR CALENDAR YEAR ENDING 2020 WAS $726. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE - THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AND IS PROVIDED A HOUSE WHICH IS ALSO USED TO ENTERTAIN GUESTS AT THE COLLEGE AND TO HOLD VARIOUS COLLEGE FUNCTIONS. THE ESTIMATED AMOUNT OF PERSONAL USE WOULD BE $8,000.00. THIS IS NOT CONSIDERED TAXABLE INCOME. A INSDUSTRIAL DEV AUTH OF PRINCE EDWARD COUNTY VA 541245781 NONEAVAIL 2016-10-06 9617646 REFINANCING OF 2008, 2010 AND 2011 BONDS 0 1 0 A 9617646 173225 9444421 2012 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 0 A 1 BART SMITH FAMILY MEMBER OF BOARD MEMBER 85000 COMPENSATION 0 NICHOLAS JOHNS FAMILY MEMBER OF OFFICER 6885 COMPENSATION 0 X 1 750 DONOR VALUE X 4093 DONOR VALUE X 12 230165 AVE HIGH/LOW (GIFT DATE) X JOHN DEERE LAWN MOWER 1 5000 DONOR VALUE X CABINETRY 1 1500 DONOR VALUE X KILN/CAMERAS 2 1150 DONOR VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 ONE OF OUR TRUSTEES IS A SENIOR VICE PRESIDENT OF A BANK WHERE AT LEAST ONE OFFICER HAS AN ACCOUNT. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE CHANGED IN APRIL 2021 TO DEFINE BOARD COMPENSATION AND VOTING MEMBERS AND FURTHER DEFINE BOARD RESPONSIBILITIES: THE ARTICLES OF INCORPORATION WERE ADJUSTED WHERE NECESSARY TO BE CONSISTENT WITH CHANGES IN THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A FOUR EX-OFFICIO TRUSTEES SHALL SERVE WITH THE VOTE - THEY ARE 1) PRESIDENT OF FERRUM COLLEGE ALUMNI ASSOCIATION, 2) RESIDENT BISHOP OF THE VIRGINIA ANNUAL CONFERENCE (VAC) OF THE UNITED METHODIST CHURCH (UMC), 3) SUPERINTENDENT OF THE DANVILLE DISTRICT OF THE UMC, AND 4) THE PRESIDENT OF THE UNITED METHODIST WOMEN OF THE VIRGINIA ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH OR DESIGNEE (EX-OFFICIO); THE REMAINDER OF THE VOTING TRUSTEES ARE ELECTED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES ACCEPTS RESPONSIBILITY FOR DETAILED REVIEW OF THE 990 AND AFTER THEIR REVIEW, THE 990 IS MADE AVAILABLE FOR THE FULL BOARD OF TRUSTEES FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C FERRUM COLLEGE HAS POLICIES FOR REGULARLY AND CONSISTENTLY MONITORING POTENTIAL CONFLICTS OF INTEREST FOR THE GOVERNING BOARD AND EMPLOYEES. IN BOTH CASES, AT A MINIMUM BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST FORMS WHICH REQUIRE NOTICE OF POTENTIAL CONFLICT OF INTEREST IF IT SHOULD ARISE WITHIN THE ANNUAL REPORTING. THIS NOTICE WOULD BE PROVIDED TO THE CHAIR OF THE BOARD IF FROM A TRUSTEE OR THE DIRECTOR OF HUMAN RESOURCES IF AN EMPLOYEE. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE CONFLICT OF INTEREST POLICY AS IT RELATES TO THE BOARD OF TRUSTEES TO ENSURE THAT POTENTIAL CONFLICTS ARE ADEQUATELY RESOLVED AND DOCUMENTED. THEY ALSO REVIEW RELATED PARTY TRANSACTION OF BOARD MEMBERS. THE PRESIDENT HAS DELEGATED THE RESPONSIBILITY OF OVERSIGHT OF THE EMPLOYEE CONFLICT OF INTEREST POLICY TO THE DIRECTOR OF HUMAN RESOURCES AND THE VICE PRESIDENTS FOR THE FUNCTIONAL AREAS OF THE COLLEGE. IF A BOARD MEMBER IS DEEMED TO HAVE A CONFLICT OF INTEREST HE OR SHE SHALL BE DISQUALIFIED FROM VOTING ON ANY MATTER THAT PRESENTS A CONFLICT UNLESS SUCH DISQUALIFICATION HAS BEEN WAIVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 IN ESTABLISHING COMPENSATION FOR THE PRESIDENT, THE EXECUTIVE COMMITTEE OF THE BOARD OBTAINS COMPARATIVE DATA FROM SIMILAR INSTITUTIONS, CONDUCTS AN ANNUAL REVIEW OF PERFORMANCE, AND MAY USE A FIRM SPECIALIZING IN COMPENSATION AND BENEFITS FOR EXECUTIVE OFFICERS. NOTES REGARDING COMPENSATION DISCUSSIONS ARE MADE BY THE CHAIR OF THE BOARD, A MEMBER OF THE EXECUTIVE COMMITTEE, AND PRESENTED VERBALLY DURING AN EXECUTIVE SESSION OF FULL BOARD IN WHICH THE FULL BOARD VOTES FOR/AGAINST THE RECOMMENDATION BY THE COMMITTEE. THIS PROCESS LAST OCCURRED IN JUNE 2021. THE PRESIDENT'S ADMINISTRATIVE COUNCIL RECEIVES NORMAL BUDGETED INCREASES. HOWEVER, THERE WERE NO BUDGETED INCREASES IN FY 2020-2021. IF THE PRESIDENT DETERMINES THAT AN ADDITIONAL INCREASE IS DESERVED BASED ON ADDITIONAL RESPONSIBILITIES, EXCEPTIONAL PERFORMANCE, OR OTHER FACTORS, HE REVIEWS COMPARABLE SALARY DATA PREPARED BY YAFFE & COMPANY WHEN ESTABLISHING AN AMOUNT. HE REPORTS THE PRESIDENT'S COUNCIL COMPENSATION TO THE EXECUTIVE COMMITTEE AT THE SPRING BOARD OF TRUSTEES MEETING. FORM 990, PART VI, SECTION C, LINE 19 NO SUCH DOCUMENTS WERE MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES TO THIS PROCESS FORM 990, PART VIII, LINE IE GOVERNMENT GRANTS (CONTRIBUTIONS) INCLUDE THE COVID-19 STIMULUS FUNDING THAT IS COMPRISED OF STUDENT AID AND INSTITUTIONAL AID. THE COLLEGE IS ACCOUNTING FOR THESE FUNDS AS CONDITIONAL CONTRIBUTIONS, RECORDING REVENUE AS QUALIFYING EXPENSES ARE INCURRED. THE STUDENT AID PORTION TOTALED $996,208, AND WAS DIRECTLY PASSED-THROUGH TO STUDENTS. THE INSTITUTIONAL PORTION TOTALED $961,056. FORM 990, PART IX, LINE 24C THE COLLEGE RECEIVED HIGHER EDUCATION EMERGENCY RELIEF FUNDS (HEERF) OF $1,957,264, OF WHICH $1,875,555 OF EXPENSES WERE INCURRED FOR COVID-19 RELATED EXPENSES. $996,208 OF THOSE EXPENSES WERE FOR THE STUDENT AID PORTION OF THE GRANT, AND THE REMAINING $879,347 WERE FOR THE INSTITUTIONAL PORTION OF THE GRANT. ROBERTS-BECKHAM LLC PO BOX 1000 FERRUM VA 24088 540506457 REAL ESTATE DEVELOPMENT VA N/A BLUE RIDGE FOUNDATION INC PO BOX 1000 FERRUM VA 24088 541855679 CULTURAL HISTORICAL EDUCATION AND PRESERVATION VA 501(C)(3) 7 N/A 0 R-B LP PO BOX 1000 FERRUM VA 24088 205868861 REAL ESTATE DEVELOPMENT VA ROBERTS-BECKHAM LLC INVESTMENT INCOME 0 1 0.01000 RS MOORE TESTAMENTARY TRUST FBO FERRUM COLLEGE SUPPORT OF CHARITABLE PURPOSE OF FERRUM COLLEGE VA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 RS MOORE TESTAMENTARY TRUST FBO FERRUM COLLEGE S 642126 CASH