2021-05-11T12:51:39-05:00 2020-06-30 540504608 BROWN EDWARDS & COMPANY LLP 1715 PRATT DRIVE SUITE 2700 BLACKSBURG VA 24060 990 2019-07-01 540506457 FERRUM COLLEGE FERR 5403664231 P O BOX 1000 FERRUM VA 24088 BARBARA HATCHER VP FOR BUSINESS AND FINANCE 5403664231 2021-05-10 1 MARK WOOLWINE P00647446 5404433606 2021-05-03 2019 2022-09-23 18:48:47Z BARBARA HATCHER P O BOX 1000 FERRUM VA 24088 50966102 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). 30 30 792 0 257004 0 2557554 3475184 47508348 46166552 1957983 1372332 32884 -151731 52056769 50862337 21046160 21397026 0 0 19148570 17356103 0 0 673483 13596397 14348456 53791127 53101585 -1734358 -2239248 124844640 125611329 32443032 34556847 92401608 91054482 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 29010472 21397026 34845209 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 26 MAJORS AND 27 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. 1693505 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. 7545952 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. 8638182 11321343 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 IS A FRANCHISE THAT PROVIDES ADDITIONAL OPTIONS FOR DINING ON CAMPUS. THERE ARE ALSO VARIOUS VENDING MACHINE LOCATIONS, PANTHER GROUNDS (COFFEE SHOP), AND PANTHER PIZZERIA. SUMMER PROGRAMS, BOTH RELATED AND UNRELATED, ARE INCLUDED. RENTAL INCOME FROM FACULTY/STAFF HOUSING IS PART OF THE AUXILIARY REVENUE AND EXPENSE. 8638182 11321343 46888111 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 1 0 1 0 0 1 792 1 1 1 0 0 0 0 0 0 0 0 0 X 30 30 1 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 PHYLLIS KARAVATAKIS CHAIR OF THE BOARD OF TRUS 1.00 X X 0 0 0 D SCOTT SHOWALTER 1ST VICE CHAIR 0.80 X X 0 0 0 W JEFFREY BOOKER 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 SUZANNE M BOLTZ TRUSTEE 0.50 X 0 0 0 JOHN COUGILL 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 BAXTER F PHILLIPS TRUSTEE 0.50 X 0 0 0 MARY JANE RAWLEY 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 H WEST TRUSTEE 0.50 X 0 0 0 HON MARTIN E WILLIAMS TRUSTEE 0.50 X 0 0 0 DON LEE WILSON TRUSTEE 0.50 X 0 0 0 BRUCE WHITEHURST TRUSTEE 0.50 X 0 0 0 GEORGE D YANCEY TRUSTEE 0.50 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 SUZANNE SMITH TRUSTEE 0.50 X 0 0 0 DENISE BATES TRUSTEE 0.50 X 0 0 0 BERNICE COBBS 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 DR DAVID JOHNS PRESIDENT 60.00 X 206433 0 7243 CHRISTOPHER BURNLEY VP FOR ADMINISTRATION AND 55.00 X 166029 0 7137 DR AIME SPOSATO PROVOST 55.00 X 180283 0 749 JAMES PENNIX VP FOR ENROLLMENT MANAGEME 55.00 X 146659 0 7664 WILSON PAINE VP FOR INSTITUTIONAL ADVANCEMENT 55.00 X 108985 0 4553 CHRISTOPHER CHANDLER DIRECTOR OF HUMAN RESOURCE 55.00 X 104878 0 7181 913267 0 34527 6 0 1 0 ALADDIN FOOD MGMT SERVICES LLC 16567 COLLECTIONS CENTER DR CHICAGO IL 60693 DINING SERVICES 1992042 ELLUCIAN INC 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 TECHNOLOGY SOLUTIONS 282249 ABBOTT BUS LINES 1703 GRANBY ST NE ROANOKE VA 210125603 TRANSPORTATION SERVICES 196483 SPARK 451-865 MERRICK AVE SUITE 451 WESTBURY NY 11590 ADMISSIONS MARKETING 185235 MECHANICAL MAINTENANCE INC PO BOX 7307 ROANOE VA 24019 MECHANICAL SERVICES 144644 8 X 1730943 1744241 42332 3475184 TUITION & FEES 611310 34845209 34845209 AUXILIARY REVENUE 611710 11109185 10878407 230778 OTHER 900099 212158 185932 26226 46166552 1158406 1158406 286597 31094 0 103765 286597 -72671 213926 -72671 286597 CHANGE IN FUNDS HELD IN TRUST 900099 -151731 -151731 -151731 50862337 45685146 257004 1445003 X 21397026 21397026 1292773 199715 936381 156677 13020980 11384887 1312631 323462 46394 36380 8116 1898 2100720 1212995 856922 30803 895236 778359 93572 23305 53695 53695 70254 70254 85893 85893 668122 527243 140879 28474 27025 1449 768156 632148 104159 31849 2580364 1992416 587948 3141481 3136204 5277 501587 474703 22512 4372 11380 7637 3743 2305229 2305229 621566 180567 440999 COVID-19 RELATED EXPENS 1095808 1095808 OTHER 961484 271818 608335 81331 PROGRAM 955341 875451 60510 19380 STUDENT SEARCH 267819 267819 231803 84681 146716 406 53101585 46888111 5539991 673483 1741094 1576334 9386122 13508647 337714 338987 771882 664980 1382355 1419080 395927 411721 569076 421637 99625414 44637020 56605835 54988394 38396404 37452640 1922747 1645156 13335484 13183753 124844640 125611329 1924591 2364409 623962 515049 8308023 7767514 19786017 19296531 1153209 3963749 647230 649595 32443032 34556847 X 41244890 40808135 51156718 50246347 92401608 91054482 124844640 125611329 -2239248 892124 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 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 1 172.00 1 1 72.00 6000 X 0 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 48465361 345779 -892387 1488669 826882 154432 45448770 0.07970 0.73860 0.18170 0 1 1 675003 675003 78769183 29499689 49269494 12944345 10802997 2141348 7236883 4334334 2902549 54988394 ENDOWMENT HELD IN TRUST BY OTHERS 13183753 13183753 ANNUITY OBLIGATIONS 118946 AMOUNTS HELD ON BEHALF OF OTHERS 181079 ASSET RETIREMENT OBLIGATIONS 472489 DEFERRED LOAN COST, NET OF AMORTIZATION -122919 649595 X 28405801 892124 892124 27513677 85893 23262767 23348660 50862337 29752925 0 29752925 85893 23262767 23348660 53101585 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 2019 WAS 9.0% 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 2019, 2018, AND 2017 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 21,397,026. COVID-19 RELATED FUNDING 1,095,808. SEVERANCE PAYMENTS 768,025. OTHER 1,908. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & OTHER ASSISTANCE TO INDIVIDUALS IN US 21,397,026. SEVERANCE PAYMENTS 768,025. COVID-19 RELATED EXPENSE 1,095,808. OTHER 1,908. 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 2019, 2018, AND 2017 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENRALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS GRANTS AND OTHER ASSISTANCE TO INDIVIDUAL IN US $21,397,026 PART XII, LINE 4B - OTHER ADJUSTMENTS GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS IN US 21,397,026 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 2020 IS EVIDENCE OF A WELL KNOWN NON -DISCRIMINATORY POLICY BASED ON CAUCASIAN POPULATION OF ONLY 55.01% 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 1043 21397026 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. 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). 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 201259 0 0 0 5174 0 0 0 7243 0 213676 0 0 0 CHRISTOPHER BURNLEY VP FOR ADMINISTRATION AND 165804 0 0 0 225 0 0 0 7137 0 173166 0 0 0 DR AIME SPOSATO PROVOST 179925 0 0 0 358 0 0 0 749 0 181032 0 0 0 JAMES PENNIX VP FOR ENROLLMENT MANAGEME 146356 0 0 0 303 0 0 0 7664 0 154323 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 2019 WAS $4,368. 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 3104 DONOR VALUE X 5 38080 AVE HIGH/LOW (GIFT DATE) X 1 DONOR VALUE X TEAM MEAL 1 1000 DONOR VALUE X LADDER 1 147 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 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 VIRGINIA ANNUAL CONFERENCE (VAC) OF THE UNITED METHODIST CHURCH (UMC), 4) SUPERINTENDENT OF THE DANVILLE DISTRICT OF THE UMC, 5) AND THE PRESIDENT OF THE UMW OF THE VAC OF THE UMC OR DESIGNEE. THE REMAINDER OF THE TRUSTEES ARE NOMINATED BY THE TRUSTEE COMMITTEE OF 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 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, HE REVIEWS COMPARABLE SALARY DATA PREPARED BY YAFFE & COMPANY WHEN ESTABLISHING AN AMOUNT. HE 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 VIII, LINE 1E GOVERNMENT GRANTS (CONTRIBUTIONS) INCLUDE THE CORONAVIRUS AID RELIEF AND ECONOMIC SECURITY ACT (CARES ACT) GRANT, 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 $836,808, AND WAS DIRECTLY PASSED-THROUGH TO STUDENTS. THE INSTITUTIONAL PORTION TOTALED $259,000. FORM 990, PART IX, LINE 24A THE COLLEGE RECEIVED THE CARES ACT GRANT, TOTALING $1,095,808, OF WHICH $1,095,808 OF EXPENSES WERE INCURRED FOR COVID-19 RELATED EXPENSES. $836,808 OF THOSE EXPENSES WERE FOR THE STUDENT AID PORTION OF THE GRANT, AND THE REMAINING $259,000 WERE FOR THE INSTITUTIONAL PORTION OF THE GRANT. 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 643896 CASH