Ferris Foundation

Organization Overview

Ferris Foundation is located in Big Rapids, MI. The organization was established in 1966. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ferris Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Ferris Foundation generated $13.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $8.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE FOUNDATION WAS ESTABLISHED TO ADVANCE THE MISSION AND GOALS OF FERRIS STATE UNIVERSITY BY GENERATING AND MANAGING PRIVATE SUPPORT FOR THE UNIVERSITY.

Describe the Organization's Program Activity:

OUR MISSION IS ACCOMPLISHED THROUGH: A COMPREHENSIVE, AGGRESSIVE, AND ETHICAL PRIVATE FUNDRAISING PROGRAM TARGETED TOWARD IDENTIFIED UNIVERSITY NEEDS AND GOALS; AGGRESSIVE, YET PRUDENT, FISCAL MANAGEMENT OF LONG-TERM PRIVATE ASSETS; AND ENTHUSIASTIC AND ETHICAL ADVOCACY OF THE UNIVERSITY AMONG ALL ITS CONSTITUENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Robert Murray
Executive Di
$0
Arlen-Dean Gaddy
Chair Elect
$0
Emily Hancock
Secretary
$0
Kurt Hofman
Immediate Pa
$0
Tim Murphy
Chair
$0
Jim Bachmeier
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$188,669
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$7,118,737
Noncash contributions included in lines 1a–1f $727,172
Total Revenue from Contributions, Gifts, Grants & Similar$7,307,406
Total Program Service Revenue$0
Investment income $1,367,881
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $4,400,367
Net Income from Fundraising Events -$70,698
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $12,993,679

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Ferris Foundation has recieved totaling $50,000.

Awarding OrganizationAmount
Robert Jensen Dau Foundation

Lake Forest, IL

PURPOSE: GENERAL FUNDS

$50,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$116,055,893
Earnings-$3,614,331
Admin Expense-$726,695
Net Contributions$4,760,965
Grants-$3,460,539
Ending Balance$113,015,293

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