Overview
What is Ferris Foundation?
The Ferris Foundation is a nonprofit organization based in Big Rapids, Michigan, with an address at 420 Oak Street Praakken 101. Its primary objective is to support and advance the mission and goals of Ferris State University by actively generating and managing private funding. With a commitment to comprehensive, aggressive, and ethical fundraising, the Foundation engages in prudent fiscal management of long-term private assets. Furthermore, it passionately advocates for the University among its constituents.
Official website here: www.ferris.edu/foundation
What are the reviews and ratings of this charity?
97% Rating from Charity Navigator
The Ferris Foundation has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. The organization has no material diversion of assets, maintains a high program expense ratio of over 92%, and demonstrates excellent fundraising efficiency, using only $0.03 to raise a dollar. These metrics indicate that the foundation prioritizes its mission and effectively utilizes donations for its programs.
Strengths include a fully independent board, with 100% of its members being independent, and comprehensive financial oversight through its Audit and Oversight Committee. The foundation's transparency is further highlighted by the availability of its financial documents online and a clear conflict of interest policy. These factors contribute to a robust governance framework that inspires confidence among donors.
However, the Ferris Foundation does have a noted limitation in that it lacks a whistleblower policy, which could be an area for improvement. Despite this shortcoming, the overall financial health and operational transparency of the organization are commendable, positioning it as a trustworthy choice for potential donors looking to support impactful charitable efforts.
This AI summary has been generated from information found on Charity Navigator.
Is Ferris Foundation legitimate?
Ferris Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ferris Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ferris.edu/foundation
What is the mission statement of Ferris Foundation?
The Ferris Foundation was established with the objective of advancing the mission and goals of Ferris State University. It accomplishes this mission through a comprehensive and aggressive private fundraising program aimed at identified university needs and goals, as well as ethical fiscal management of long-term private assets. The foundation's activities include generating and managing private support for the university, with a focus on advocacy and financial resources. Its efforts are geared towards enhancing the university's capabilities and capabilities while maintaining ethical standards. The foundation's advocacy efforts are enthusiastic and dedicated to promoting the university among its various constituents.
Official website here: www.ferris.edu/foundation
Who is the CEO of Ferris Foundation?
Robert Murray is the Executive Di of Ferris Foundation.
Official website here: www.ferris.edu/foundation
What is the revenue of Ferris Foundation?
Ferris Foundation's revenue in 2022 was $12,993,679.
Official website here: www.ferris.edu/foundation
Who are the executives of Ferris Foundation and what are their salaries?
There 26 volunteers at Ferris Foundation.
Here are 31 key members and their salaries:
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- Other: $31,758
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- Related: $153,431
- Other: $26,100
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- Related: $126,377
- Other: $24,924
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Official website here: www.ferris.edu/foundation
Where can I find the form 990 for Ferris Foundation?
Ferris Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ferris.edu/foundation
Learn more at the official website: www.ferris.edu/foundation
Mission Statement of Ferris Foundation
The Ferris Foundation is a charitable organization dedicated to advancing the mission and goals of Ferris State University. Established with a mission to generate and manage private support for the university, the Foundation works tirelessly to secure funds for identified university needs and objectives.
In pursuit of this endeavor, the Foundation employs a comprehensive, aggressive, and ethical private fundraising program. This program is targeted towards securing resources for the university's priorities and future developments. The Foundation's team diligently seeks out potential donors and engages with them in a responsible and ethical manner, ensuring the long-term success of the university.
In addition to fundraising, the Ferris Foundation also practices prudent fiscal management of its long-term private assets. This financial stewardship is a crucial component of the Foundation's mission, ensuring the sustainability of its efforts to support Ferris State University. Furthermore, the Foundation enthusiastically and ethically advocates for the university among its constituents, raising awareness and garnering support for its initiatives.
By carrying out these functions, the Ferris Foundation plays a vital role in advancing the mission and goals of Ferris State University, ultimately contributing to the growth and success of the institution.
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Impact
October, 2024
Ferris Foundation significantly enhances the mission and goals of Ferris State University through targeted fundraising and effective asset management. By implementing a comprehensive and ethical fundraising program, the Foundation identifies and addresses the specific needs of the university, ensuring that resources are directed where they are most needed.
This proactive approach not only secures private support but also fosters a culture of advocacy among alumni and community members, strengthening the university's position and impact within the region. Through prudent fiscal management of long-term assets, the Foundation ensures a sustainable financial future for the university, enabling the continued advancement of educational opportunities.
Ultimately, the Ferris Foundation plays a vital role in enriching the educational landscape, contributing to the overall growth and development of Ferris State University and its constituents in Big Rapids, MI.
This information is meant to be a general summary of Ferris Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5,768,248
- Gross Receipts: $18,758,330
Assets and Liabilities:
- Total Assets: $118,188,680
- Total Liabilities: $146,985
- Net Assets: $118,041,695
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Organization Details
Founding Year
1991
Phone
(231) 591-2365Principal Officer
Robert Murray
Main Address
420 OAK STREET PRAKKEN 101, BIG RAPIDS, MI, 493072031
Website
www.ferris.edu/foundationNTEE Category
Code: B82 - Education
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