Overview
What is Madison Community Cooperative?
Madison Community Cooperative is a nonprofit organization situated in Madison, Wisconsin, with a mission to improve the local community. Their primary focus is on providing affordable, cooperative housing for individuals with low to moderate incomes. This nonprofit currently supports 185 members and maintains the continuity of eleven cooperative houses. The organization is committed to being inclusive, welcoming underrepresented and marginalized groups in the community. With a dedicated team of 16 employees, Madison Community Cooperative strives to make a positive impact in the lives of its members by offering low-cost, not-for-profit housing options.
Official website here: www.madisoncommunity.coop
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, Two-Star out of Four Star rating.
Madison Community Cooperative has received a Two-Star rating on Charity Navigator, indicating a moderate level of accountability and financial health. The organization excels in certain areas, such as having a majority of independent board members and a high program expense ratio of 90.57%, which suggests a strong focus on its mission-related activities. Additionally, there are no reported issues with material diversion of assets, reflecting sound financial practices.
However, the rating also highlights significant areas for improvement. The absence of key policies, such as a conflict of interest policy, a whistleblower policy, and a document retention policy, raises concerns regarding governance and transparency. While the organization maintains a reasonably low liabilities to assets ratio, the lack of these policies may impact stakeholder confidence and overall accountability.
In summary, while Madison Community Cooperative demonstrates strong financial management and commitment to its programs, the missing governance policies could potentially hinder its effectiveness and public trust. Addressing these gaps would likely enhance its overall rating and organizational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Community Cooperative legitimate?
Madison Community Cooperative is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Community Cooperative 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: $29,169
Professional Fundraising Fees: $0
Other Salaries and Wages: $104,115
For more financial information, click here
Official website here: www.madisoncommunity.coop
What is the mission statement of Madison Community Cooperative?
The Madison Community Cooperative's mission is geared towards enhancing communities by providing affordable, not-for-profit cooperative housing for individuals with moderate to low incomes. They are committed to inclusivity, extending their services to underrepresented and marginalized groups within the community. The cooperative has played a significant role, offering housing and educational resources to 185 members and providing support to eleven cooperative houses.
Official website here: www.madisoncommunity.coop
Who is the CEO of Madison Community Cooperative?
Steve Vig is the President of Madison Community Cooperative.
Official website here: www.madisoncommunity.coop
What is the revenue of Madison Community Cooperative?
Madison Community Cooperative's revenue in 2022 was $1,420,997.
Official website here: www.madisoncommunity.coop
Who are the executives of Madison Community Cooperative and what are their salaries?
The average compensation at Madison Community Cooperative during 2022 was $8,330. There are 16 employees and 250 volunteers at Madison Community Cooperative.
Here are 25 key members and their salaries:
- Compensation: $3,969
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- Compensation: $2,835
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- Compensation: $2,835
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- Compensation: $3,402
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- Compensation: $3,969
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- Compensation: $1,134
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- Compensation: $6,804
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Official website here: www.madisoncommunity.coop
Where can I find the form 990 for Madison Community Cooperative?
Madison Community Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.madisoncommunity.coop
Learn more at the official website: www.madisoncommunity.coop
Mission Statement of Madison Community Cooperative
Madison Community Cooperative, a nonprofit organization, strives to enhance its community by offering affordable, not-for-profit cooperative housing to individuals with very low to moderate incomes. The mission of Madison Community Cooperative is rooted in inclusivity, as it seeks to embrace underrepresented and marginalized groups within the community. By providing cooperative housing, the organization aims to contribute positively to the community and offer a supportive environment for its members. In addition to housing, Madison Community Cooperative offers educational resources and ensures the continuity of eleven cooperative houses, serving a total of 185 members.
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Impact
July, 2024
Madison Community Cooperative provides low-cost cooperative housing for very low to moderate income individuals in Madison, WI. By offering cooperative housing and education to its members, it supports and provides continuity to eleven cooperative houses housing 185 members. The organization's mission is to enhance the Madison community by offering affordable, not-for-profit cooperative housing while being inclusive of underrepresented and marginalized groups.
This information is meant to be a general summary of Madison Community Cooperative. 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: $466
- Program Service Revenue: $1,127,908
- Gross Receipts: $1,420,997
Assets and Liabilities:
- Total Assets: $4,314,477
- Total Liabilities: $1,175,386
- Net Assets: $3,139,091
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,127,908
Organization Details
Founding Year
1968
Phone
(608) 251-2667Principal Officer
Steve Vig
Main Address
1202 WILLIAMSON ST 106, MADISON, WI, 537034830
Website
www.madisoncommunity.coopNTEE Category
Code: B80Z - Education
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