2019-05-15T12:06:56-05:00 2018-06-30 540504608 BROWN EDWARDS & COMPANY LLP 1715 PRATT DRIVE SUITE 2700 BLACKSBURG VA 24060 990 2017-07-01 540506457 FERRUM COLLEGE FERR 5403664231 P O BOX 1000 FERRUM VA 24088 CHRISTOPHER BURNLEY VP FOR BUSINESS AND FINANCE 5403664231 2019-05-10 1 MARK WOOLWINE P00647446 5404433606 2019-05-08 206.248.228.130 2019-05-10 07:37:13 ED P C6B7EFC27ADC1D591699B7D67A64703C90C79A72 CE530EA759AC3AF6BB0EECEF8950573E07121913 2017 2019-02-21 02:37:17Z CHRISTOPHER BURNLEY P O BOX 1000 FERRUM VA 24088 51365979 0 X WWW.FERRUM.EDU X 1914 VA FERRUM COLLEGE IS A 4 YEAR LIBERAL ARTS INSTITUTION FOUNDED ON CHRISTIAN PRINCIPLES AND RELATED TO THE UNITED METHODIST CHURCH. IT IS OUR MISSION TO EDUCATE STUDENTS IN THE DISCIPLINES OF HIGHER LEARNING AND TO HELP THEM BE THOUGHTFUL AND PERCEPTIVE, TO BE ARTICULATE AND PROFESSIONALLY CAPABLE, AND TO BE CARING AND CONCERNED CITIZENS IN THEIR COMMUNITY, NATION, AND WORLD. FERRUM COLLEGE FURTHERS IT'S COMMITMENT AS A CHARITABLE ORGANIZATION BY PROVIDING FINANCIAL ASSISTANCE TO ALL STUDENTS EXHIBITING NEED AS DETERMINED BY THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). 28 28 1143 22 290059 -279204 5666176 2619329 50075370 46489950 1344725 1661585 612236 501932 57698507 51272796 21062420 19870230 0 0 19597275 19875773 0 0 711354 13716360 13820273 54376055 53566276 3322452 -2293480 124203089 125074857 31439613 32589860 92763476 92484997 X FERRUM COLLEGE IS A 4 YEAR LIBERAL ARTS INSTITUTION FOUNDED ON CHRISTIAN PRINCIPLES AND RELATED TO THE UNITED METHODIST CHURCH. IT IS OUR MISSION TO EDUCATE STUDENTS IN THE DISCIPLINES OF HIGHER LEARNING AND TO HELP THEM BE THOUGHTFUL AND PERCEPTIVE, TO BE ARTICULATE AND PROFESSIONALLY CAPABLE, AND TO BE CARING AND CONCERNED CITIZENS IN THEIR COMMUNITY, NATION, AND WORLD. 0 0 27993313 19870230 34911992 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 76 MAJORS AND 41 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. 2153992 ACADEMIC SUPPORT - FERRUM STRIVES TO MAXIMIZE THE CHANCE FOR STUDENT SUCCESS BY PROVIDING ONE-ON-ONE SUPPORT THROUGH TUTORING, ACADEMIC ADVISING, ACADEMIC COUNSELING, COORDINATED STUDY GROUPS FOR MOST DISCIPLINES, INDIVIDUAL ATTENTION AND POSITIVE REINFORCEMENT. THIS SERVICE IS PROVIDED BY THE ACADEMIC RESOURCE CENTER. IN ADDITION, THE STANLEY LIBRARY SUPPLIES ITS PATRONS WITH INFORMATION AS EFFICIENTLY AS POSSIBLE IN SUPPORT OF THE ACADEMIC, CULTURAL, AND COMMUNITY SERVICE MISSION OF FERRUM COLLEGE. TO FULFILL THIS PURPOSE THE LIBRARY MAINTAINS AN APPROPRIATE COLLECTION OF BOOKS, PERIODICALS, AND NON-PRINT MATERIALS ALONG WITH THE EQUIPMENT NECESSARY FOR THEIR USE. THE LIBRARY ALSO PROVIDES ACCESS TO A FULL RANGE OF RESOURCE SHARING SERVICES SUPPORTING FACULTY AND STUDENT RESEARCH. THE STATE CENTER FOR BLUE RIDGE FOLKLORE, FERRUM COLLEGE'S BLUE RIDGE INSTITUTE & MUSEUM HAS DOCUMENTED THE FOLKWAYS OF THE PEOPLE LIVING IN AND AROUND THE BLUE RIDGE MOUNTAINS. THE INSTITUTION'S FOCUS ADDS A UNIQUE ELEMENT TO FERRUM 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. 8128315 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, CARILION EAP, AND THE YMCA IS LOCATED ON CAMPUS TO PROVIDE HEALTH SERVICES AND WELLNESS TO STUDENTS. 8759399 11700148 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 FOOD COST, STAFF THAT SUPPORT THE PREPARATION AND SERVING OF MEALS TO STUDENTS, FACULTY, AND STAFF AS WELL AS OTHER EXPENSES ASSOCIATED WITH THIS SERVICE. SUBWAY AND PAPA JOHN'S ARE TWO FRANCHISES THAT PROVIDE ADDITIONAL DINING OPTIONS FOR DINING ON CAMPUS. THERE ARE ALSO VARIOUS VENDING MACHINE LOCATIONS, A NEWS CAFE, AND A FERRUM MERCANTILE DINING FACILITY. SUMMER PROGRAMS, BOTH RELATED AND UNRELATED, ARE INCLUDED. RENTAL INCOME FROM FACULTY/STAFF HOUSING IS PART OF THE AUXILIARY REVENUE AND EXPENSE. 8759399 11700148 47035019 1 1 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 1568 0 1 1143 1 1 1 0 0 0 0 0 0 0 X 28 28 1 0 0 0 0 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X CHRISTOPHER BURNLEY 5403654231 215 FERRUM MOUNTAIN RD ROOM 108 FERRUM VA 24088 PHYLLIS KARAVATAKIS CHAIR OF THE BOARD OF TRUS 1.00 X X 0 0 0 HARRY G NORRIS 1ST VICE CHAIR 0.80 X X 0 0 0 D SCOTT SHOWALTER 2ND VICE CHAIR 0.80 X X 0 0 0 LOU C TALBOTT SECRETARY 0.80 X X 0 0 0 SUZANNE BELL TRUSTEE 0.50 X 0 0 0 SUE BOLTZ TRUSTEE 0.50 X 0 0 0 W JEFFRYEY BOOKER TRUSTEE 0.50 X 0 0 0 W CLAY CAMPBELL TRUSTEE 0.50 X 0 0 0 JOHN P COUGILL TRUSTEE 0.50 X 0 0 0 BETTY J FORBES TRUSTEE 0.50 X 0 0 0 KENNETH G GASSMAN TRUSTEE 0.50 X 0 0 0 REV JANINE W HOWARD TRUSTEE 0.50 X 0 0 0 REV ELIZABETH LAZENBY TRUSTEE 0.50 X 0 0 0 SHARMA D LEWIS TRUSTEE 0.50 X 0 0 0 JUDSON P MASON TRUSTEE 0.50 X 0 0 0 ANNITA P NELSON TRUSTEE 0.50 X 0 0 0 MARVIN PHAUP TRUSTEE 0.50 X 0 0 0 BAXTER F PHILLIPS TRUSTEE 0.50 X 0 0 0 MARY JANE RAWLEY TRUSTEE 0.50 X 0 0 0 RONALD SINGLETON TRUSTEE 0.50 X 0 0 0 IRMA H SMART TRUSTEE 0.50 X 0 0 0 CAROLYN L SMITH TRUSTEE 0.50 X 0 0 0 ROBERT W TODD TRUSTEE 0.50 X 0 0 0 REV KATHLEEN OVERBY WEBSTER TRUSTEE 0.50 X 0 0 0 MARILYN WEST TRUSTEE 0.50 X 0 0 0 HON MARTIN E WILLIAMS TRUSTEE 0.50 X 0 0 0 DON L WILSON TRUSTEE 0.50 X 0 0 0 GEORGE YANCEY TRUSTEE 0.50 X 0 0 0 DR JENNIFER L BRAATEN PRESIDENT 60.00 X 161113 0 0 CHRISTOPHER BURNLEY VP FOR BUSINESS AND FINANC 55.00 X 166029 0 18787 GEORGE SEALS VP FOR INSTUTITIONAL ADVAN 55.00 X 166267 0 17594 DR CHRISTINE STINSON ACCOUNTING PROFESSOR 40.00 X 124931 0 14292 CHRISTOPHER CHANDLER DIRECTOR OF HUMAN RESOURCES 55.00 X 104584 0 14631 JOSEPH SPOONER FORMER PRESIDENT 60.00 X 360098 0 19503 DR GAIL SUMMER FORMER VP FOR ACADEMIC AFFAIRS 55.00 X 132906 0 9462 1215928 0 94269 7 1 1 0 MOORE'S ELECTRICAL MECHANICAL CONSTRUCTI PO BOX 119 ALTAVISTA VA 24517 ELECTRICAL AND MECHANICAL SERVICES 2183781 PAUL R SHIVELY INC PO BOX 699 FLOYD VA 240910699 DEMOLITION AND EXCAVATION 320352 ELLUCIAN INC 62578 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 TECHNOLOGY SOLUTIONS 257566 ABBOTT BUS LINES 1703 GRANBY ST NE ROANOKE VA 210125603 TRANSPORTATION SERVICES 254051 SHENTEL PO BOX 37014 BALTIMORE MD 212973014 INFO TECH SERVICES 226253 7 297163 2322166 45486 2619329 TUITION & FEES 611310 34911992 34911992 AUXILIARY REVENUE 611710 11430085 11177730 252355 OTHER 900099 147873 110169 37704 46489950 1523663 1523663 227605 3500 0 93183 227605 -89683 137922 -89683 227605 CHANGE IN FUNDS HELD IN TRUST 900099 501932 501932 501932 51272796 46612140 290059 1751268 19870230 19870230 1263894 1068137 195757 14506959 12869685 1281135 356139 642122 547813 72424 21885 2486868 1505444 940696 40728 975930 858454 94156 23320 26876 26876 88784 88784 725025 514292 206669 4064 11706 10612 1094 1211039 1053399 122807 34833 820248 201021 619227 4542160 4526718 15442 759007 722625 27745 8637 29048 15362 13061 625 2695098 2695098 563796 126884 436912 PROGRAM 1008685 873298 114165 21222 OTHER 801625 244184 556761 680 EQUIPMENT MAINTENANCE 292164 154888 133812 3464 STUDENT SEARCH 245012 245012 53566276 47035019 5819903 711354 7619457 4433761 3288296 7146395 3745954 402724 567169 656711 1524943 1527584 359370 424585 562763 621312 97732351 40713261 56013446 57019090 35658314 37429545 2062709 2110550 12800668 13302600 124203089 125074857 1581710 2057858 712616 640933 9332463 8829448 18094633 19301040 1111135 1139686 607056 620895 31439613 32589860 X 41645149 42309701 14591158 12703723 36527169 37471573 92763476 92484997 124203089 125074857 -2293480 2015001 0 X X 0 1 X 1 1 1 X 1 1 0 1 100 0 0 1 22000 0 1 3000 25100 0 PART II-B, LINE 1: PART 11-B, LINE 1D: CONSERVATIVE ESTIMATE FOR STATIONARY AND POSTAGE FOR VARIOUS CORRESPONDENCE. PART 11-B, LINE 1G: ESTIMATE FOR EMPLOYEE COMPENSATION, MEALS, LODGING, REGISTRATIONS, AND TRANSPORTATION EXPENSE ASSOCATED WITH SPECIFIC MEETINGS OR EVENTS. 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 X X X X 0 51075652 442531 4321125 1787773 990294 174717 52886524 45448770 1140877 6868424 1476445 750273 155701 51075652 48465361 345779 -892387 1488669 826882 154432 45448770 49049571 250511 1470929 1389190 758562 157898 48465361 43172353 534935 7517262 1361573 654889 158517 49049571 0.08220 0.70620 0.21160 0 1 1 675003 675003 76680304 27127614 49552690 13229127 9924649 3304478 7147917 3660998 3486919 57019090 ENDOWMENT HELD IN TRUST BY OTHERS 13302600 13302600 ANNUITY OBLIGATIONS 146342 AMOUNTS HELD ON BEHALF OF OTHERS 174311 ASSET RETIREMENT OBLIGATIONS 444694 DEFERRED LOAN COST, NET OF AMORTIZATION -144452 620895 X 33328783 2015001 2015001 31313782 88784 19870230 19959014 51272796 33607262 0 33607262 88784 19870230 19959014 53566276 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, AND DEBT SERVICE 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 2018 WAS 6.3% 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 2015, 2014, AND 2013 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 19,870,230. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN US 19,870,230. 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 VIEWBOOK, NON ACCEPTANCE CORRESPONDENCE, OTHER ADMISSIONS MATERIAL AND THE FERRUM COLLEGE MAGAZINE. STUDENT ENROLLMENT DATA FROM FALL 2018 IS EVIDENCE OF A WELL KNOWN NON -DISCRIMINATORY POLICY BASED ON CAUCASIAN POPULATION OF ONLY 54.31% 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. 1 SCHOLARSHIPS TO STUDENTS 1123 19870230 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. OTHER DEPARTMENT GRANTS ARE MONITORED BY THE RESPONSIBLE PARTY TO ENSURE THAT EXPENDITURES COMPLY WITH GRANT REQUIREMENTS AND ARE NOT DIVERTED FOR OTHER USES. 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 JENNIFER L BRAATEN PRESIDENT 160440 0 0 0 673 0 0 0 0 0 161113 0 0 0 CHRISTOPHER BURNLEY VP FOR BUSINESS AND FINANC 165804 0 0 0 225 0 12250 0 6537 0 184816 0 0 0 GEORGE SEALS VP FOR INSTUTITIONAL ADVAN 163762 0 0 0 2505 0 11922 0 5672 0 183861 0 0 0 JOSEPH SPOONER FORMER PRESIDENT 358292 0 0 0 1806 0 14511 0 4992 0 379601 0 0 0 DR GAIL SUMMER FORMER VP FOR ACADEMIC AFFAIRS 132621 0 0 0 285 0 6519 0 2943 0 142368 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 HER WHILE SHE 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 HER W-2 FOR CALENDAR YEAR ENDING 2015 WAS $3,106. 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, CONSEQUENTLY IT IS NOT REPORTED ON THE W-2. 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 9617646 2012 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 0 A 1 X 5 37997 AVE HIGH/LOW (GIFT DATE) X TWO EMPIRE AMERICAN BRILLIANT GLASS CUT DECANTERS 1 4850 DONOR VALUE X OTHER 3 1339 DONOR VALUE X HANDCRAFTED WALNUT DINING ROOM TABLE 1 1300 DONOR VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 ONE OF OUR TRUSTEES IS A VICE PRESIDENT OF A BANK WHERE AT LEAST ONE OFFICER HAS AN ACCOUNT. FORM 990, PART VI, SECTION A, LINE 7A SIX NOMINATED BY UNITED METHODIST WOMEN (UMW) OF THE VIRGINIA ANNUAL CONFERENCE (VAC) AND ONE EX-OFFICIO MEMBER (THE UMW PRESIDENT); FOUR NOMINATED BY THE BOARD OF GLOBAL MINISTRIES OF THE VAC; REMAINDER NOMINATED BY TRUSTEE COMMITTEE OF THE BOARD OF TRUSTEES; FIVE EX-OFFICIO TRUSTEES SHALL SERVE WITH THE VOTE - THEY ARE 1) IMMEDIATE PAST CHAIR, 2) PRESIDENT OF FERRUM COLLEGE ALUMNI ASSOCIATION, 3) RESIDENT BISHOP OF THE VAC OF THE UNITED METHODIST CHURCH (UMC), 4) SUPERINTENDENT OF THE DANVILLE DISTRICT OF THE UMC, 5) AND THE SUPERINTENDENT OF THE ROANOKE DISTRICT OF THE UMC. FORM 990, PART VI, SECTION A, LINE 7B ALL THE ELECTIVE TRUSTEES MENTIONED IN 7A SHALL BE ELECTED BY THE VAC OF THE UMC. THIS DOES NOT INCLUDE THE FIVE EX-OFFICIO 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 MAY 2015. THE PRESIDENT'S ADMINISTRATIVE COUNCIL RECEIVES NORMAL BUDGETED INCREASES. IF THE PRESIDENT DETERMINES THAT AN ADDITIONAL INCREASE IS DESERVED BASED ON ADDITIONAL RESPONSIBILITIES, EXCEPTIONAL PERFORMANCE, OR OTHER FACTORS, SHE REVIEWS COMPARABLE SALARY DATA PREPARED BY YAFFE & COMPANY WHEN ESTABLISHING AN AMOUNT. SHE REPORTS THE ADMINISTRATIVE COUNCIL COMPENSATION ALONG WITH ANY OTHER HIGHLY COMPENSATED EMPLOYEES TO THE EXECUTIVE COMMITTEE AT THE SPRING BOARD OF TRUSTEES MEETING. THIS LAST OCCURRED IN MAY 2015. 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 THE PROCESS. 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 625375 CASH