Madison Charitable Foundation Inc
- Assets
- $3.1m
- Revenue
- $1.4m
- Investments
- $3.0m
- Employees
- 0
- Location
- Richmond, TX
- Founding
- 03/2009
- Data as of
- 12/2022
- EIN
- 26-1147137
Organization Overview
Madison Charitable Foundation Inc is located in Richmond, TX. The organization was established in 2009. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Charitable 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 12/2022, Madison Charitable Foundation Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $3.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Madison Charitable Foundation Inc has awarded 824 individual grants totaling $30,367,104. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wiley Hatcher Director | 1 | $0 | |
James O Carpenter Director | 1 | $0 | |
Lorinda Beth Madison Director | 1 | $0 | |
Norma M Petrosewicz Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $149 |
| Dividends & Interest | $180,569 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,225,082 |
| Capital Gain Net Income | $1,225,082 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,405,800 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $78,194 |
| Contributions, gifts, grants paid | $2,924,806 |
| Total expenses and disbursements | $3,003,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,399 |
| Savings and temporary cash investments | $103,133 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,086,579 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Madison Charitable Foundation Inc has awarded $2,924,806 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
ALLEY THEATRE PURPOSE: EDUCATIONAL PROGRAMS | $172,000 |
AMERICAN FRIENDS OF COVENANT GARDEN PURPOSE: GENERAL FUNDING | $60,000 |
AVENUE CDC PURPOSE: PROGRAM FUNDING | $10,000 |
BAYLOR COLLEGE OF MEDICINE PURPOSE: OPERATING FUNDING | $30,000 |
BETHEL MINISTRY PURPOSE: KID ACTIVITY FUNDS | $200,000 |
BUT GOD MINISTRIES PURPOSE: FUNDS TO ASSIST WITH BUILDING | $5,000 |