Overview
What is Madison Area Technical College Foundation Inc?
Madison Area Technical College Foundation Inc, with the Doing Business As Name of Madison College Foundation, is a nonprofit organization based in Madison, Wisconsin. Situated at 3591 ANDERSON STREET 203A, this organization's primary mission is to enrich lives and strengthen the community by acquiring private funding to support high-quality, open-access education at Madison College. To achieve this, they provide scholarships exclusively for students attending Madison Area Technical College. These scholarships aid in making the college more accessible and serve as a recognition for academic excellence. With a dedicated workforce of 7 individuals, the foundation's activities are geared towards supporting Madison Area Technical College and its students.
Official website here: www.supportmadisoncollege.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
The Madison Area Technical College Foundation Inc has achieved an impressive Four-Star rating from Charity Navigator, signifying a high level of accountability and financial health. The overall score reflects a strong emphasis on financial management, with a perfect score in various categories such as independent board membership, financial statements oversight, and a solid program expense ratio, indicating efficient use of funds for its mission.
Strengths highlighted include the foundation's commitment to transparency and governance, with all board members being independent and a well-structured oversight committee in place. The organization demonstrates excellent financial stability, as shown by a low liabilities to assets ratio and a strong working capital ratio, which ensures it can sustain operations and fulfill its commitments effectively.
While the organization shows robust financial metrics and governance practices, the summary does not provide specific insights into programmatic outcomes or community impact. Potential donors may want to seek additional information regarding the effectiveness of the foundation's programs to better understand how funds are utilized beyond financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Area Technical College Foundation Inc legitimate?
Madison Area Technical College Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Area Technical College 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: $413,210
Professional Fundraising Fees: $0
Other Salaries and Wages: $311,421
For more financial information, click here
Official website here: www.supportmadisoncollege.org
What is the mission statement of Madison Area Technical College Foundation Inc?
The Madison Area Technical College Foundation's mission is to enrich lives and strengthen the community by securing private funding to support high-quality, open-access education at Madison College. This foundation primarily focuses on providing scholarships for students of Madison College, aiming to make education more accessible and recognize academic excellence. The scholarships offered by the foundation help reduce financial burdens and make higher education more attainable for students. By doing so, the foundation contributes to the growth and development of the community.
Official website here: www.supportmadisoncollege.org
Who is the CEO of Madison Area Technical College Foundation Inc?
Tammy Thayer is the Treasurer of Madison Area Technical College Foundation Inc. The CEO's salary of Madison Area Technical College Foundation Inc is $219,155 and their total compensation is $235,558.
Official website here: www.supportmadisoncollege.org
What is the revenue of Madison Area Technical College Foundation Inc?
Madison Area Technical College Foundation Inc's revenue in 2022 was $4,171,287.
Official website here: www.supportmadisoncollege.org
Who are the executives of Madison Area Technical College Foundation Inc and what are their salaries?
The average compensation at Madison Area Technical College Foundation Inc during 2022 was $103,519. There are 7 employees and 11 volunteers at Madison Area Technical College Foundation Inc.
Here are 13 key members and their salaries (Madison Area Technical College Foundation Inc's CEO's salary is $219,155 and their total compensation is $235,558):
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- Compensation: $142,232
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- Other: $13,379
- Compensation: $219,155
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- Other: $16,403
Official website here: www.supportmadisoncollege.org
Where can I find the form 990 for Madison Area Technical College Foundation Inc?
Madison Area Technical College Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.supportmadisoncollege.org
Learn more at the official website: www.supportmadisoncollege.org
Mission Statement of Madison Area Technical College Foundation Inc
Madison Area Technical College Foundation Inc is dedicated to enriching lives and strengthening the community by acquiring private funding in support of high-quality, open-access education at Madison College. The mission of this organization is to provide scholarships exclusively for students attending Madison Area Technical College, enabling them to afford access to the college and recognizing academic excellence. By offering scholarships, Madison Area Technical College Foundation Inc plays a significant role in enabling deserving students to pursue their educational goals, thereby contributing to the betterment of the community.
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Impact
October, 2024
Madison Area Technical College Foundation Inc significantly enhances the educational experience and opportunities for students at Madison Area Technical College. Through their scholarship programs, the foundation provides essential financial support, enabling students to pursue their academic goals without the burden of excessive financial strain.
By rewarding academic excellence and facilitating access to quality education, the foundation plays a vital role in enriching lives and strengthening the local community. This support not only empowers individuals to achieve their educational aspirations but also contributes to a more skilled workforce, ultimately benefiting the broader economy. The foundation's commitment to private funding ensures that quality education remains accessible, fostering a culture of learning and growth within the community.
This information is meant to be a general summary of Madison Area Technical College 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: $759,900
- Program Service Revenue: $373,930
- Gross Receipts: $4,492,181
Assets and Liabilities:
- Total Assets: $19,547,707
- Total Liabilities: $60,747
- Net Assets: $19,486,960
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$373,930
Organization Details
Founding Year
1973
Phone
(608) 246-6441Principal Officer
Tammy Thayer
Main Address
3591 ANDERSON STREET 203A, MADISON, WI, 53704
NTEE Category
Code: B124 - Education
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