Ferree Educational & Welfare Fund
- Assets
- $2.3m
- Revenue
- $134.0k
- Investments
- $1.3m
- Employees
- 0
- Location
- Asheboro, NC
- Founding
- 07/1958
- Data as of
- 12/2021
- EIN
- 56-6062560
Organization Overview
Ferree Educational & Welfare Fund is located in Asheboro, NC. The organization was established in 1958. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ferree Educational & Welfare Fund 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 12/2021, Ferree Educational & Welfare Fund generated $134.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $117.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS TO STUDENTS ATTENDING A COLLEGE OR UNIVERSITY. RECIPIENTS ARE DETERMINED BASED ON SCHOLASTIC ACHIEVEMENT AND NEED. FOR 2021 THERE WERE 30 STUDENTS WHO RECEIVED SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Cranford Executive Director | 10 | $16,396 | |
Dr Aaron Woody-Super Of City School Trustee | 0.5 | $0 | |
Mike King-Market Pres Wells Fargo Treasurer | 0.5 | $0 | |
W Mcduffy Johnson-The Welsh Group Trustee | 0.5 | $0 | |
David Smith-Mayor Of Asheboro Trustee | 0.5 | $0 | |
Steven Gainey - Super Of Cty School Chairman | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $23,379 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $65,098 |
| Capital Gain Net Income | $65,098 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $45,565 |
| Total Revenue | $134,042 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $16,396 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,522 |
| Depreciation | $120 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $17,921 |
| Total operating and administrative expenses | $57,494 |
| Contributions, gifts, grants paid | $60,000 |
| Total expenses and disbursements | $117,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,188 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $986,789 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $76,396 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,309,650 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $10,287 |
| Total liabilities | $10,287 |
Peer Organizations
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|---|---|---|
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The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
University Of South Carolina Educational Foundation Columbia, SC | $607,523,681 | $89,201,263 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |