Madison Public Schools Foundation Inc
- Assets
- $14.6m
- Revenue
- $4.0m
- Investments
- $177.1k
- Employees
- 0
- Location
- Madison, WI
- Founding
- 02/2002
- Data as of
- 12/2021
- EIN
- 39-2043104
Organization Overview
Madison Public Schools Foundation Inc is located in Madison, WI. The organization was established in 2002. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Public Schools 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, Madison Public Schools Foundation Inc generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 8.2% 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 2015, Madison Public Schools Foundation Inc has awarded 15 individual grants totaling $3,473,653. 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
TO PROVIDE FUNDING EXCLUSIVELY TO THE SCHOOLS OF THE MADISON METROPOLITAN SCHOOL DISTRICT IN SUPPORT OF CREATIVE INITIATIVES, CONSISTENT WITH SUSTAINING EXCELLENCE IN EDUCATION, WHICH PREVIOUSLY HAVE NOT BEEN FUNDED AND WHICH CANNOT BE FUNDED THROUGH THE CORE SCHOOL BUDGET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS, SCHOLARSHIPS, AND FISCAL AGENT SERVICES - GRANTS AND SCHOLARSHIPS THAT SUPPORT THE DISTRICT'S SCHOOLS, PROGRAMS, PROJECTS, AND STUDENTS.
COMMUNITY PARTNERSHIPS - SUPPORTS THE IDENTIFICATION AND DEVELOPMENT OF PARTNERSHIPS BETWEEN SCHOOLS IN THE DISTRICT WITH LOCAL BUSINESSES AND OTHER ORGANIZATIONS. THE FOUNDATION MANAGES THREE PROGRAMS IN THIS AREA: A PRINCIPAL EXPERIENCE, THE ADOPT-A-SCHOOL PROGRAM, AND THE TEACHER SUPPLY PROGRAM.
ADVOCACY - PROVIDES AWARENESS AND CAMPAIGNING EFFORTS TO THE DISTRICT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Heinritz President | Officer | 40 | $109,292 |
Mary Romolino Chair | OfficerTrustee | 1 | $0 |
Alyssa Hartung Treasurer | OfficerTrustee | 1 | $0 |
Daniel Nerad Chair-Elect | OfficerTrustee | 1 | $0 |
Melissa Scholz Vice Chair/secretary | OfficerTrustee | 1 | $0 |
Elizabeth Huebel Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $32,200 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,918,190 |
| Noncash contributions included in lines 1a–1f | $22,895 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,950,390 |
| Total Program Service Revenue | $0 |
| Investment income | $47,726 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,070 |
| Net Income from Fundraising Events | -$8,987 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,995,199 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $970,715 |
| Grants and other assistance to domestic individuals. | $9,099 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $117,113 |
| Compensation of current officers, directors, key employees. | $45,259 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $321,446 |
| Pension plan accruals and contributions | $10,318 |
| Other employee benefits | $3,069 |
| Payroll taxes | $36,482 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,384 |
| Fees for services: Other | $34,994 |
| Advertising and promotion | $52,700 |
| Office expenses | $27,481 |
| Information technology | $24,425 |
| Royalties | $0 |
| Occupancy | $31,315 |
| Travel | $558 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $996 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,671 |
| Insurance | $4,074 |
| All other expenses | $3,124 |
| Total functional expenses | $1,704,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,230,102 |
| Pledges and grants receivable | $431,225 |
| Accounts receivable, net | $0 |
| 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 | $45,106 |
| Investments—publicly traded securities | $1,704,066 |
| Investments—other securities | $177,070 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,990,126 |
| Total assets | $14,577,695 |
| Accounts payable and accrued expenses | $51,950 |
| Grants payable | $209,571 |
| 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 | $261,521 |
| Net assets without donor restrictions | $10,557,845 |
| Net assets with donor restrictions | $3,758,329 |
| 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 | $14,577,695 |
Grants Awarded
Over the last fiscal year, Madison Public Schools Foundation Inc has awarded $970,715 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MADISON METROPOLITAN SCHOOL DISTRICT PURPOSE: EDUCATIONAL PROGRAMS FOR SCHOOLS IN THE MMSD, SCHOLARSHIPS, AND TEACHER SUPPLIES. | $943,938 |
Madison, WI PURPOSE: TEEMS PROGRAM | $26,777 |
Grants Recieved
Over the last fiscal year, we have identified 26 grants that Madison Public Schools Foundation Inc has recieved totaling $1,868,290.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $1,512,900 |
Evjue Foundation Inc Madison, WI PURPOSE: SUPPORT COVID-19 RELIEF EFFORTS AND TEACHER SUPPLY PROGRAM | $60,000 |
Madison Community Foundation Madison, WI PURPOSE: CHILDREN'S ORAL HEALTH CARE | $57,504 |
Madison Community Foundation Madison, WI PURPOSE: GENERAL CHARITABLE PURPOSES | $30,000 |
Nimick Forbesway Foundation Pittsburgh, PA PURPOSE: TEACHER SUPPORT NETWORK PROJECT | $25,000 |
Madison Gas & Electric Foundation Inc Madison, WI PURPOSE: GENERAL SUPPORT | $25,000 |
Endowment Analysis
| Beg. Balance | $7,605,203 |
| Earnings | $940,652 |
| Admin Expense | $61,149 |
| Net Contributions | $1,728,174 |
| Grants | $285,487 |
| Ending Balance | $9,927,393 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Eastern Michigan University Foundation Ypsilanti, MI | $82,145,619 | $14,420,618 |
Michigan Tech Fund Houghton, MI | $217,061,508 | $42,674,434 |
Northern Illinois University Foundation Dekalb, IL | $169,106,712 | $31,131,654 |
Grand Rapids Community College Foundation Grand Rapids, MI | $37,079,013 | $9,829,978 |
Christian Schools International Insurance Plan And Trust Fund Grandville, MI | $5,188,497 | $9,699,281 |
Saginaw Valley State University Foundation University Center, MI | $94,804,323 | $8,609,845 |