Overview
What is Madison Festivals Inc?
Madison Festivals Inc, headquartered at 787 Lois Drive, Sun Prairie, Wisconsin 53590, is a nonprofit organization dedicated to enhancing the local community. They are renowned for hosting the annual Taste of Madison event, which attracts over 250,000 people during Labor Day weekend. This end-of-summer picnic features over 75 restaurants, three entertainment stages, and over 25 beverage stands. The primary objective of Madison Festivals Inc is to produce and develop events in the greater Madison community, bringing people, businesses, and charities together. Their mission is to continually evolve and offer best-in-class events that enrich the community, raising funds for local non-profit and charitable organizations. With a team of two dedicated individuals, Madison Festivals Inc plays a significant role in fostering a sense of community through their events.
Official website here: www.madisonfestivals.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68% (Two-Star out of Four Star rating)
Madison Festivals Inc has received a 68% rating from Charity Navigator, indicating a moderate level of organizational effectiveness and transparency. The high percentage of independent board members and the absence of material diversion of assets reflect positively on the charity's governance structure. Additionally, the presence of essential policies, such as conflict of interest and whistleblower policies, contributes to the charity's overall accountability.
Despite these strengths, the organization faces challenges in financial areas, particularly with a liabilities to assets ratio of 67.73%, which may raise concerns about its financial health. However, a strong program expense ratio of 80.80% shows a commitment to its mission through effective allocation of resources towards programs.
Overall, while Madison Festivals Inc demonstrates solid governance and accountability practices, it is recommended that potential donors consider the financial stability of the organization before contributing. The rating suggests that while the charity is operating within a sound framework, there are underlying financial issues that need to be addressed to ensure long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Festivals Inc legitimate?
Madison Festivals Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Festivals 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: $135,527
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,785
For more financial information, click here
Official website here: www.madisonfestivals.com
What is the mission statement of Madison Festivals Inc?
Madison Festivals Inc's mission is to produce and develop events that enrich the community by bringing together people, businesses, and charitable organizations. They strive to achieve this through evolving, top-notch events. One of their notable events is the Taste of Madison, held since 1983, which is a community gathering attracting over 250,000 people during Labor Day weekend. This event features various restaurants, entertainment stages, and beverage stands, and has raised over $1 million since 1995 for local non-profit and charitable organizations.
Official website here: www.madisonfestivals.com
Who is the CEO of Madison Festivals Inc?
Sara Klemme is the President of Madison Festivals Inc.
Official website here: www.madisonfestivals.com
What is the revenue of Madison Festivals Inc?
Madison Festivals Inc's revenue in 2022 was $1,364,433.
Official website here: www.madisonfestivals.com
Who are the executives of Madison Festivals Inc and what are their salaries?
The average compensation at Madison Festivals Inc during 2022 was $69,156. There are 2 employees and 700 volunteers at Madison Festivals Inc.
Here are 15 key members and their salaries:
- Compensation: $135,527
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.madisonfestivals.com
Where can I find the form 990 for Madison Festivals Inc?
Madison Festivals Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.madisonfestivals.com
Learn more at the official website: www.madisonfestivals.com
Mission Statement of Madison Festivals Inc
Madison Festivals Inc, a nonprofit organization, strives to create and develop events in the broader community of Madison. Their mission is to serve as a bridge, connecting people, businesses, and charitable organizations. By organizing evolving and top-tier events, they aim to enrich their community.
Specifically, Madison Festivals Inc is well-known for their flagship event, the Taste of Madison. This annual celebration, held since 1983, attracts a considerable crowd of over 250,000 individuals during Labor Day weekend. The event features over 75 local restaurants, three entertainment stages, and more than 25 beverage stands. The primary purpose of the Taste of Madison is to raise funds for local non-profit and charitable organizations. Since its inception in 1995, the event has managed to secure over $1 million for these organizations.
In essence, Madison Festivals Inc serves as a unifying force in their community, bringing together various sectors to create memorable events and contribute to the betterment of local charities.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Madison Festivals Inc has a significant impact on the Greater Madison community by producing and developing events that bring people, businesses, and charities together. Their flagship event, the Taste of Madison, held since 1983, is a prominent end-of-summer picnic that attracts over 250,000 people to the Capitol Square over Labor Day weekend. This event showcases over 75 restaurants, three entertainment stages, and numerous beverage stands, raising over $1.0 million since 1995 for local nonprofit and charitable organizations. Madison Festivals Inc's mission to enrich the community through best-in-class events demonstrates their commitment to fostering connectivity and support among diverse groups in the area.
This information is meant to be a general summary of Madison Festivals 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: $1,218
- Program Service Revenue: $848,539
- Gross Receipts: $1,518,283
Assets and Liabilities:
- Total Assets: $499,758
- Total Liabilities: $362,077
- Net Assets: $137,681
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MADISON MARATHON REVENUE
Revenue
$513,990
TASTE OF MADISON REVENUE
Revenue
$227,790
RUN MADTOWN REVENUE
Revenue
$106,759
Organization Details
Founding Year
1978
Phone
(608) 609-5354Principal Officer
Sara Klemme
Main Address
787 LOIS DRIVE, SUN PRAIRIE, WI, 53590
Website
www.madisonfestivals.comNTEE Category
Code: N52 - Recreation
If you are a representative of Madison Festivals Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.