Madison Area Technical College Foundation Inc
- Assets
- $23.6m
- Revenue
- $5.5m
- Investments
- $208.3k
- Employees
- 7
- Location
- Madison, WI
- Founding
- 03/1973
- Data as of
- 06/2023
- EIN
- 23-7265867
Organization Overview
Madison Area Technical College Foundation Inc, operating under the name Madison College Foundation, is located in Madison, WI. The organization was established in 1973. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2023, Madison College Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison College 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 06/2023, Madison College Foundation generated $5.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $3.3m during the year ending 06/2023. While expenses have increased by 0.1% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT MADISON AREA TECHNICAL COLLEGE AND THEIR STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - MADISON AREA TECHNICAL COLLEGE FOUNDATION, INC. PROVIDES SCHOLARSHIPS SOLELY FOR STUDENTS OF THE MADISON AREA TECHNICAL COLLEGE. SCHOOL SCHOLARSHIPS HELP STUDENTS AFFORD ACCESS TO THE COLLEGE AND REWARD ACADEMIC EXCELLENCE.
CAMPAIGN:STAND BY YOU CAMPAIGN - THE HISTORIC $30 MILLION CAMPAIGN HAS FOUR IMPORTANT OBJECTIVES:SMART FUTURE SCHOLARSHIPS - PROVIDE EXPANDED STUDENT SCHOLARSHIPS, WHICH DELIVER FUNDING FOR STUDENTS TO HELP THEM ACHIEVE THEIR DREAMS IN THE 150+ PROFESSIONAL FIELDS THAT IMPACT YOUR COMMUNITY EVERY DAY.EMERGENCY GRANTS - ASSIST STUDENTS WHO FACE FINANCIAL BURDENS SUCH AS LACK OF FOOD, TRANSPORTATION ISSUES, MEDICAL BILLS, FAMILY CRISES AND OTHER FINANCIAL CHALLENGES.SCHOLARS OF PROMISE - THIS INITIATIVE BENEFITS LOW-INCOME RECENT HIGH SCHOOL GRADUATES WHO HAVE THE MOTIVATION TO COMPLETE THEIR COLLEGE EDUCATION, BUT LACK FINANCIAL RESOURCES. WE DO THIS BY PROVIDING FINANCIAL AID AND SCHOLARSHIPS TO COVER THE COST OF TUITION, IN ADDITION TO PROVIDING WRAP AROUND SUPPORT SERVICES AND MENTORSHIP THROUGHOUT THEIR EDUCATIONAL JOURNEY AT MADISON COLLEGE.PLANNED GIFTS - HELP REALIZE OF OUR VISION THAT NO STUDENT BE DENIED AN EDUCATION DUE TO FINANCIAL BARRIERS.
GENERAL PROGRAM ACTIVITIES - MADISON AREA TECHNICAL COLLEGE FOUNDATION MANAGES PROGRAM FUNDS ON BEHALF OF MADISON COLLEGE DEPARTMENTS TO SUPPORT THEIR FUNDRAISING EFFORTS.
GRANTS -MADISON AREA TECHNICAL COLLEGE FOUNDATION, INC. PROVIDES SMALL AMOUNTS OF FINANCIAL ASSISTANCE TO RETAIN STUDENTS WHO ARE ENROLLED BUT ENCOUNTER FINANCIAL EMERGENCIES FOR WHICH THE STUDENTS DO NOT HAVE OTHER RESOURCES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robin Roberts Treasurer | OfficerTrustee | 1 | $0 |
Todd Ludgate Vice President | OfficerTrustee | 1 | $0 |
Bill Beisenstein President | OfficerTrustee | 1 | $0 |
Debra Lange Secretary | OfficerTrustee | 1 | $0 |
Gordon Derzon Director | Trustee | 1 | $0 |
Tim O'brien Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,164,607 |
| Noncash contributions included in lines 1a–1f | $59,349 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,164,607 |
| Total Program Service Revenue | $417,964 |
| Investment income | $298,652 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $306,123 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,512,141 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $59,547 |
| Grants and other assistance to domestic individuals. | $1,649,626 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $258,375 |
| Compensation of current officers, directors, key employees. | $103,350 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $485,733 |
| Pension plan accruals and contributions | $27,874 |
| Other employee benefits | $56,386 |
| Payroll taxes | $49,799 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $650 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,375 |
| Fees for services: Other | $7,502 |
| Advertising and promotion | $33,108 |
| Office expenses | $8,330 |
| Information technology | $49,713 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $31,161 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,572 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $110,238 |
| Insurance | $6,337 |
| All other expenses | $86,095 |
| Total functional expenses | $3,265,175 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,022,420 |
| Savings and temporary cash investments | $1,360,732 |
| Pledges and grants receivable | $1,591,869 |
| Accounts receivable, net | $17,152 |
| 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 | $58,037 |
| Net Land, buildings, and equipment | $3,061,128 |
| Investments—publicly traded securities | $15,102,257 |
| Investments—other securities | $208,312 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,208,161 |
| Total assets | $23,630,068 |
| Accounts payable and accrued expenses | $66,020 |
| Grants payable | $0 |
| 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 | $1,239,881 |
| Total liabilities | $1,305,901 |
| Net assets without donor restrictions | $3,177,494 |
| Net assets with donor restrictions | $19,146,673 |
| 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 | $23,630,068 |