2026-05-15T10:06:58-05:00 2025-06-30 540504608 BROWN EDWARDS & COMPANY LLP 105 ARBOR DRIVE 3RD FLOOR CHRISTIANSBURG VA 24073 990 2024-07-01 540506457 FERRUM COLLEGE FERR 5403654231 P O BOX 1000 FERRUM VA 24088 DR MIRTA M MARTIN PRESIDENT 5403654231 2026-05-15 1 0 MARK WOOLWINE P00647446 5404433606 2026-05-15 2024 2025-03-06 01:10:19Z DR MIRTA M MARTIN P O BOX 1000 FERRUM VA 24088 40514267 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. 17 16 643 20 309002 0 2831366 8990855 36863697 29110736 2488057 1829784 967047 114549 43150167 40045924 18894999 13172106 0 0 14389773 14364869 0 0 467647 14462304 13905401 47747076 41442376 -4596909 -1396452 124498875 127530844 25229066 24279885 99269809 103250959 X OUR STUDENTS ENTER WITH PROMISE AND LEAVE WITH PURPOSE. WE FOSTER PERSONAL GROWTH, ACADEMIC EXCELLENCE, CAREER-READY SKILLS, AND A COMPASSION FOR SERVICE GROUNDED IN FAITH. WE EMPOWER INDIVIDUALS TO LEAD PURPOSEFUL LIVES, GUIDED BY FERRUM COLLEGE VALUES AND A COMMITMENT TO IMPACT THEIR COMMUNITIES AND THE WORLD. 0 0 19689971 13172106 20700841 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 32 MAJORS AND 41 MINORS, AS WELL AS A STUDENT-FACULTY RATIO OF 11:1. THE COLLEGE STRIVES TO PROVIDE PRE-PROFESSIONAL LEARNING OPPORTUNITIES BY OFFERING A WIDE ARRAY OF INTERNSHIPS IN ITS MAJORS. THE COLLEGE ALSO OFFERS SEVERAL GRADUATE PROGRAMS. 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 STUDENTS TO PUT INTO PRACTICE WHAT THEY ARE LEARNING IN THE CLASSROOM. 1770276 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 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. 6620456 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. 7134268 8128909 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. 7134268 8128909 35214971 1 1 0 1 0 0 1 1 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 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 1049 0 1 643 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 17 16 0 0 0 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 TRUS 4.00 X X 0 0 0 W JEFFREY BOOKER 1ST VICE CHAIR 0.80 X X 0 0 0 EVERETT FOXX 2ND VICE CHAIR 0.50 X X 0 0 0 AMANDA COX SECRETARY 0.80 X X 0 0 0 DAVID ARRINGTON TRUSTEE 0.50 X 0 0 0 REV DR SARAH CALVERT TRUSTEE 0.50 X 0 0 0 JOHN P COUGILL TRUSTEE 0.50 X 0 0 0 F ABE DYMOND TRUSTEE 0.50 X 0 0 0 JAMIE GREEN TRUSTEE 0.50 X 0 0 0 CLYDE HOLLAND PERDUE III TRUSTEE 0.50 X 0 0 0 GERARD ROBINSON TRUSTEE 0.50 X 0 0 0 BISHOP SUE HAUPERT-JOHNSON TRUSTEE 0.50 X 0 0 0 GLENN LOOPE TRUSTEE 0.50 X 0 0 0 DR KAREN MCELFISH TRUSTEE 0.50 X 0 0 0 JUDSON MASON TRUSTEE 0.50 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 NANCY WALSH TRUSTEE 0.50 X 0 0 0 FRANCES DYMOND CHIEF LEGAL OFFICER 20.00 X 5216 0 0 JESSICA LUTHER ASSOC CHIEF ACCOUNTING OFFICER/CFO 55.00 X 84509 0 10926 DR MIRTA M MARTIN PRESIDENT 55.00 X 204188 0 19067 LISA BOWLING VP FOR INSTITUTIONAL ADVAN 40.00 X 130049 0 12313 MARK POORE VICE PRESIDENT OF TECHNOLOGY 40.00 X 125879 0 505 DELIA HECK PROVOST 55.00 X 111138 0 12580 JASON POWELL ASSOC VP ACADEMIC AFFAIRS 40.00 X 104215 0 12580 MELODY SHARP DIRECTOR OF NURSING 40.00 X 100836 0 7989 866030 0 75960 6 0 1 0 METZ CULINARY MANAGEMENT TWO WOODLAND DRIVE DALLAS PA 18612 DINING SERVICES 2621817 BLAIR CONSTRUCTION POST OFFICE BOX 612 GRETNA VA 24557 BUILDING CONTRACTOR 859930 ELLUCIAN INC 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 TECHNOLOGY SOLUTIONS 549569 BLACK TIE BUS CHARTERS 3050 RIDGEWOOD RD WINSTON SALEM NC 27107 ATHLETIC TRANSPORTATION 258051 ACCESSU 701 PATTERSON AVE SW ROANOKE VA 24016 MARKETING 222075 9 38300 349469 8603086 159650 8990855 TUITION & FEES 611310 20700841 20700841 AUXILIARY REVENUE 611710 8253056 7928985 324071 OTHER 611710 156839 156839 29110736 2108988 4264 2104724 265357 13847 -265357 -13847 -279204 -13847 -265357 154915 38300 77965 76950 76950 148773 111174 37599 56932 -19333 40045924 28829750 309002 1916317 13172106 13172106 1528782 646987 719757 162038 10573096 9030616 1375206 167274 1521049 976457 528394 16198 741942 630129 99498 12315 91941 91941 78071 78071 122668 122668 573911 538447 35464 21452 19952 1500 657964 495145 144312 18507 952131 13338 865031 73762 3131852 3124694 7158 348720 332730 8981 7009 5521 3795 1726 2018994 2018994 912895 193389 719506 FOOD SERVICE 2283542 2283542 PROGRAM 1232547 1180663 47435 4449 OTHER 1063150 461921 595134 6095 EQUIPMENT MAINTENANCE 410042 92066 317976 41442376 35214971 5759758 467647 118334 125553 8379430 4967208 475957 3892665 1450206 1557816 527312 330921 504620 459025 957096 903186 103295618 52342685 52019759 50952933 43348907 47638307 2408061 1397795 14309193 15305435 124498875 127530844 1109756 1083031 918992 1193048 5400276 4582019 17171323 16765772 85 85 628634 655930 25229066 24279885 X 42604248 37971171 56665561 65279788 99269809 103250959 124498875 127530844 X -1396452 4381360 996242 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1 100 0 0 1 1000 0 1 4500 5600 0 PART II-B, LINE 1: PART II-B, LINE 1D: CONSERVATIVE ESTIMATE FOR STATIONARY AND POSTAGE FOR VARIOUS CORRESPONDENCE. PART II-B, LINE 1G: ESTIMATE FOR EMPLOYEE COMPENSATION, MEALS, LODGING, REGISTRATIONS, AND TRANSPORTATION EXPENSE ASSOCIATED WITH SPECIFIC MEETINGS OR EVENTS. PART II-B, LINE 1I: FERRUM COLLEGE IS A MEMBER OF THE COUNCIL OF INDEPENDENT COLLEGES OF VIRGINIA (CICV). WE ESTIMATE THAT $4,500 OF OUR ANNUAL DUES TO THE CICV ARE FOR LOBBYING ACTIVITIES. X X X X 1 159.00 1 1 899725 X X X X 0 60249916 6782994 7149759 3917326 2293162 214029 67758152 57626099 631822 8751815 4277032 2307938 174850 60249916 58180012 253801 6372624 4674391 2311635 194312 57626099 66146540 742315 -5833094 1711251 923008 241490 58180012 52306519 1157995 15226382 1522556 840311 181489 66146540 0.10230 0.74020 0.15750 0 1 1 675003 675003 82203131 35354187 46848944 12914719 11179893 1734826 7502765 5808605 1694160 50952933 ENDOWMENT HELD IN TRUST BY OTHERS 15305435 15305435 ANNUITY OBLIGATIONS 88756 AMOUNTS HELD ON BEHALF OF OTHERS 116039 ASSET RETIREMENT OBLIGATIONS 520221 DEFERRED LOAN COST, NET OF AMORTIZATION -69086 655930 32190823 4381360 869175 5250535 26940288 122668 12982968 13105636 40045924 28209673 189138 189138 28020535 122668 13299173 13421841 41442376 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: A PORTION 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 2024-2025 WAS 15% OF A THREE-YEAR AVERAGE VALUE ON FUNDS THAT WERE NOT "UNDERWATER". PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FUNDS HELD IN TRUST 996,242. NON-OPERATING EXPENSE INCLUDED ON STATEMENT OF ACTIVITIES -127,067. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN US 13,172,106. COST OF GOODS SOLD CAMPUS STORE AND FUNDRAISING EVENTS -189,138. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD CAMPUS STORE AND FUNDRAISING EXPENSES 189,138. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN US 13,172,106. NON-OPERATING EXPENSE INCLUDED ON STATEMENT OF ACTIVITIES 127,067. 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, THE FERRUM COLLEGE ANNUAL REPORT, AND THE BYLAWS OF FERRUM COLLEGE. STUDENT ENROLLMENT DATA FROM FALL 2025 IS EVIDENCE OF A WELL KNOWN NON-DISCRIMINATORY POLICY BASED ON CAUCASIAN POPULATION OF 48.1% 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 69604 36125 33479 34597 RAFFLE 33057 33057 1380 8 90554 2175 88379 41988 193215 38300 154915 77965 77965 76950 1 SCHOLARSHIPS TO STUDENTS 626 13172106 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). GRANTS THAT ARE NOT A PART OF A STUDENT'S FINANCIAL AID ARE AWARDED BASED ON CRITERIA ESTABLISHED FOR THE GRANT. 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 X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR MIRTA M MARTIN PRESIDENT 203000 0 0 0 1188 0 0 0 19067 0 223255 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 MAXIMUM AMOUNT ALLOWABLE IS $10,000.00 PER FISCAL YEAR. 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. THE PRESDIENT DID NOT RECEIVE ANY COMPANION PAY OR GROSS UP PAYMENTS IN FISCAL YEAR 2024-2025. A INDUSTRIAL 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 X 1 13850 DONOR VALUE X 6 142650 AVE HIGH/LOW (GIFT DATE) X MISCELLANEOUS 1 3150 DONOR VALUE 0 1 0 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) PRESIDING BISHOP OF THE VIRGINIA ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH OR DESIGNEE, 3) THE DISTRICT SUPERINTENDENT OF THE DANVILLE DISTRICT OF THE VIRGINIA ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH OR DESIGNEE, AND 4) THE PRESIDENT OF THE UNITED WOMEN IN FAITH 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 PERIOD. 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 THE 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 IN WHICH THE EXECUTIVE COMMITTEE VOTES FOR/AGAINST THE COMPENSATION PACKAGE. THIS PROCESS LAST OCCURRED IN JULY 2024. THE SENIOR LEADERSHIP TEAM RECEIVES NORMAL BUDGETED INCREASES. HOWEVER, THERE WERE NO BUDGETED INCREASES IN FY 2024-2025. 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 YAFFEE & COMPANY WHEN ESTABLISHING AN AMOUNT. SHE REPORTS ANY CHANGES TO THE SENIOR LEADERSHIP TEAM'S COMPENSATION TO THE EXECUTIVE COMMITTEE AT THE NEXT EXECUTIVE COMMITTEE MEETING FOLLOWING THE COMPENSATION ADJUSTMENT. FORM 990, PART VI, SECTION C, LINE 19 NO SUCH DOCUMENTS WERE MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN FUNDS HELD IN TRUST 996,242. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES TO THIS 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 696196 CASH