Meriter Foundation Inc
- Assets
- $29.7m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 10
- Location
- Madison, WI
- Founding
- 03/1971
- Data as of
- 12/2021
- EIN
- 23-7098688
Organization Overview
Meriter Foundation Inc is located in Madison, WI. The organization was established in 1971. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Meriter Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meriter Foundation Inc 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, Meriter Foundation Inc generated $4.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 1.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Meriter Foundation Inc has awarded 20 individual grants totaling $4,175,459. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RAISE, INVEST, GRANT AND STEWARD GIFTS ON BEHALF OF MERITER HOSPITAL, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MERITER FOUNDATION, INC. IS A NOT-FOR-PROFIT 501 (C)(3) CHARITABLE ORGANIZATION THAT RAISES, INVESTS, GRANTS AND STEWARDS GIFTS ON BEHALF OF MERITER HOSPITAL, INC. THOUSANDS OF INDIVIDUALS AND ORGANIZATIONS HAVE OFFERED CHARITABLE GIVING SUPPORT THAT HAS HELPED ADVANCE MERITER'S COMMITMENT TO THE HEALTHCARE NEEDS OF OUR COMMUNITY. SUCH GIFTS HAVE A POSITIVE AND POWERFUL IMPACT THAT SPANS GENERATIONS AND EXTENDS BEYOND THE DOORS OF MERITER HOSPITAL, INC. INTO THE HEART OF DANE COUNTY AND BEYOND. PHILANTHROPY PROVIDES A MARGIN OF EXCELLENCE THAT ALLOWS MERITER TO ACCOMPLISH PROJECTS AND IMPLEMENT PROGRAMS THAT MIGHT NOT OTHERWISE BE POSSIBLE. IN ADDITION TO RAISING MONEY FOR PROGRAMS AND CAPITAL PROJECTS, THE FOUNDATION GRANTS FUNDS FROM EXISTING ASSETS TO SELECT RESEARCH AND HEALTH EDUCATION INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca Dopart President, Foundation | OfficerTrustee | 50 | $228,832 |
Brianna Yanke Sr Director, Development | 45 | $108,003 | |
Holly Cremer Berkenstadt Board Vice Chair | OfficerTrustee | 1 | $0 |
Sue Erickson President & CEO Uph-Meriter | OfficerTrustee | 1 | $0 |
Jeffrey Levy Board Secretary/treasurer | OfficerTrustee | 1 | $0 |
John Sims Board Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $111,947 |
| Related organizations | $8,525 |
| Government grants | $212,374 |
| All other contributions, gifts, grants, and similar amounts not included above | $844,115 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,176,961 |
| Total Program Service Revenue | $873,221 |
| Investment income | $2,481,516 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $307,609 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,839,307 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $435,475 |
| Grants and other assistance to domestic individuals. | $51,882 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $265,593 |
| Compensation of current officers, directors, key employees. | $132,796 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $288,716 |
| Pension plan accruals and contributions | -$2,141 |
| Other employee benefits | $53,839 |
| Payroll taxes | $39,808 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $83,281 |
| Fees for services: Other | $115,436 |
| Advertising and promotion | $0 |
| Office expenses | $8,368 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,323 |
| Travel | $4,459 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,052 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,551,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $1,078,302 |
| Pledges and grants receivable | $401,970 |
| Accounts receivable, net | $134,634 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $28,093,089 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,708,195 |
| Accounts payable and accrued expenses | $75,495 |
| Grants payable | $1,120,156 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,195,651 |
| Net assets without donor restrictions | $15,554,847 |
| Net assets with donor restrictions | $12,957,697 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $29,708,195 |
Grants Awarded
Over the last fiscal year, Meriter Foundation Inc has awarded $424,516 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, WI PURPOSE: FUNDING HOSPITAL NEEDS | $410,153 |
Madison, WI PURPOSE: FUNDING NEEDS | $14,363 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Meriter Foundation Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Pyle Foundation Madison, WI PURPOSE: GENERAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $633,336 |
| Net Contributions | $1,000 |
| Ending Balance | $634,336 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of St Vincent De Paul- Twin Cities Minneapolis, MN | $592,562 | $17,408,500 |
Moose Charities Inc Mooseheart, IL | $5,385,966 | $15,548,845 |
Northland Foundation Duluth, MN | $110,895,270 | $27,913,272 |
Communtiy Foundation Of The Holland Zeeland Area Holland, MI | $102,848,837 | $16,439,772 |
Franciscan Sisters Of Chicago Service Corporation Lemont, IL | $62,771,138 | $13,923,865 |
Vela Education Fund Glencoe, IL | $4,855,969 | $13,247,569 |
Comerica Charitable Tr Detroit, MI | $75,789,432 | $13,296,605 |
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
The Wayne And Joan Webber Foundation Clinton Township, MI | $34,958,708 | $9,275,748 |
Community Foundation For The Land Of Lincoln Inc Springfield, IL | $62,800,465 | $16,636,147 |
Steve Stricker American Family Insurance Foundation Inc Madison, WI | $5,745,517 | $4,719,862 |
Chicago Cubs Charities Chicago, IL | $11,765,252 | $2,315,259 |