The purpose of the Ferris Foundation is to advance the mission and goals of Ferris
State University by generating and managing private support for the university.
Purpose
Since 1991, The Ferris Foundation has been responsible for receiving, investing and distributing endowment gifts, which
provide a source of perpetual support for Ferris State University. The Foundation also serves as the university’s philanthropic organization, receiving and acknowledging
all gifts to the university, including annual gifts that meet present needs. The Foundation strives to enhance stewardship and communication with donors, creating a more efficient
and unified approach to philanthropy, strengthening the Foundation’s mission as a valued and trusted intermediary between Ferris State University and its donors.
FREQUENTLY ASKED QUESTIONS
The Ferris Foundation is the fundraising arm of the University. Previous to January 1, 2015, the Ferris
Foundation held and invested the corpus of the endowment for the University. After
January 1, the Ferris Foundation will receive and acknowledge all gifts to Ferris
State University. It is a 501(c)(3) non-profit corporation that exists solely for
the benefit of Ferris State University.
To provide more transparency in consolidated reporting to the Board of Trustees of
all giving to Ferris State University and create a recognized brand for fundraising
activities for Ferris State University.
The Foundation office is housed in the University Advancement & Marketing offices
in the Prakken Building.
The Board of Directors is comprised of community, business, professional and industry
leaders, a Board of Trustee liaison, alumni and current faculty and staff. Directors
are volunteers who provide external oversight of the Foundation’s operation and are
appointed by the Ferris State University Board of Trustees. They serve without compensation,
contributing their time, wisdom and resources for the best interest of the university.
The Ferris Foundation was created in 1991 as the successor organization of the Ferris
State University Alumni Foundation.
An endowment is a gift where the fund is invested and a portion of the income is awarded
for scholarships and/or program support. The Ferris Foundation annually awards 4%
of the rolling 3-year average of the value of the endowment to support scholarships
and programs at Ferris State University. Awards are calculated annually as of December
31, and a distribution is made after July 1.
The minimum gift required to create an endowment is $25,000.
The Ferris Foundation Investment Committee is responsible for managing the assets
following the stated objectives of the Foundation investment policy. Currently, the
Foundation contracts with Ellwood Associates to provide strategic direction for the
investment the assets of the Foundation. Read more about the Foundation investment policy.
The Foundation is limited by both state and federal law concerning how the funds it
receives are distributed. In addition, a policy has been established detailing the
specific requirements and procedures for disbursing funds from the Foundation to Ferris
State University.
The student callers in our Telephone Outreach Program make calls to alumni and friends
of the university to:
Keep our alumni connected with the university and give our donors the opportunity
to speak with students about their shared experiences while they were a student at
Ferris.
Secure gifts to support the growth of the university.
Update the alumni database.
Gifts will be deposited following university cash handling policy to the Ferris Foundation
holding account and instructions are uploaded by advancement services to accounting
weekly for distribution to departmental FOAPS.
