Overview
What is Destination Madison Foundation Inc?
Destination Madison Foundation Inc, based in Madison, Wisconsin, is a nonprofit organization committed to promoting and encouraging economic development within the Greater Madison/Dane County area. They achieve this by providing resource support for events hosted by the City of Madison and the Greater Madison Convention & Visitors Bureau, Inc., which ultimately aim to enhance the well-being of diverse populations in the region. The foundation's activities extend beyond event sponsorship, as it also conducts research and disseminates data related to economic development in the area. Furthermore, the foundation serves as a source of information for residents and visitors, showcasing the cultural, educational, scientific, civic, and athletic advantages of living and working in Greater Madison/Dane County.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star Rating
Destination Madison Foundation Inc has achieved a 94% score, reflecting strong accountability and financial practices. The foundation's overall score is derived entirely from its impressive accountability and finance metrics, indicating a commitment to transparency and responsible management of resources.
The organization boasts an independent board structure, with all 12 board members being independent, which contributes to its high scores in governance and oversight. Furthermore, it has not reported any material diversion of assets, and it has established comprehensive policies regarding conflicts of interest, whistleblower protections, and document retention, all of which enhance its operational integrity.
One notable highlight is the foundation's program expense ratio, which stands at 100%, signifying that all its expenditures are directed toward programmatic activities rather than administrative costs. This focus on programming is a significant strength; however, the data does not provide insight into the specific impact or effectiveness of their programs, which could be a potential area for further evaluation by donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Destination Madison Foundation Inc legitimate?
Destination Madison Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Destination Madison Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Destination Madison Foundation Inc?
The Destination Madison Foundation Inc's mission is primarily focused on promoting economic development and improving the well-being of diverse populations within a specific area, often referred to as the greater Madison/Dane County area. The organization aims to achieve this by providing information about the cultural, educational, scientific, civic, and athletic benefits of living and working in this area. Additionally, the foundation offers resource support for events that encourage economic development within the area. It also conducts research on economic development and disseminates the gathered data. The foundation manages funds and properties received for this purpose, which may be used for various investments and disbursements.
Who is the CEO of Destination Madison Foundation Inc?
Ellie Westman Chin is the Chair of Destination Madison Foundation Inc. The CEO's salary of Destination Madison Foundation Inc is $0 and their total compensation is $282,984.
What is the revenue of Destination Madison Foundation Inc?
Destination Madison Foundation Inc's revenue in 2022 was $53,853.
Who are the executives of Destination Madison Foundation Inc and what are their salaries?
There 9 volunteers at Destination Madison Foundation Inc.
Here are 10 key members and their salaries (Destination Madison Foundation Inc's CEO's salary is $0 and their total compensation is $282,984):
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- Related: $254,063
- Other: $28,921
Where can I find the form 990 for Destination Madison Foundation Inc?
Destination Madison Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Destination Madison Foundation Inc
Destination Madison Foundation Inc, a nonprofit organization, is dedicated to promoting and encouraging economic development and well-being within the diverse populations residing in the greater Madison/Dane County area. Their primary mission is to support the Greater Madison Convention & Visitors Bureau Inc in showcasing the cultural, educational, scientific, civic, and athletic advantages of living and working in this region.
To accomplish this, Destination Madison Foundation Inc provides information to both residents and visitors, highlighting the numerous benefits that the area has to offer. Additionally, the foundation offers resource support for events organized by the city of Madison and the Greater Madison Convention & Visitors Bureau Inc, with the aim of stimulating economic growth within the greater Madison/Dane County area.
The organization also conducts research and disseminates data related to economic development in the region. By doing so, Destination Madison Foundation Inc aims to provide valuable insights and contribute to the overall improvement of the local economy. Furthermore, the foundation manages funds and properties, either outright or in trust, to support its initiatives and objectives.
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Impact
October, 2024
Destination Madison Foundation Inc actively enhances the economic development and well-being of diverse populations in the greater Madison/Dane County area. By providing substantial resource support for major events, such as the $100,000 allocated to the Greater Madison Convention & Visitors Bureau for the CrossFit Games rights fees in 2022, the foundation plays a pivotal role in boosting local economic activity.
The foundation also serves as a vital source of information about the rich cultural, educational, and recreational opportunities available in the region, thereby encouraging both residents and visitors to engage with the community. Its commitment to conducting research and disseminating data further informs strategies for local economic improvement. Overall, the Destination Madison Foundation serves as a catalyst for community enhancement, fostering growth and connectivity in a diverse environment.
This information is meant to be a general summary of Destination Madison Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,558
- Gross Receipts: $53,853
Assets and Liabilities:
- Total Assets: $397,791
- Total Liabilities: $0
- Net Assets: $397,791
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Organization Details
Founding Year
2003
Phone
(608) 255-2537Principal Officer
Ellie Westman Chin
Main Address
22 EAST MIFFLIN STREET, MADISON, WI, 53703
NTEE Category
Code: S31 - Community improvement
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