Overview
What is Madison Family Medicine Residency Corporation Inc?
Madison Family Medicine Residency Corporation Inc is a nonprofit organization situated in Madison, Wisconsin. Their primary mission is to offer facilities for Family Medicine Residency programs at the University of Wisconsin School of Medicine and Public Health. By doing so, they contribute to the education and training of future family medicine professionals, ensuring they provide healthcare services at or below fair market rates. The corporation's work contributes to the growth and development of the medical field in the region.
Official website here: www.fammed.wisc.edu/madison
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 63%)
Madison Family Medicine Residency Corporation Inc has received a two-star rating from Charity Navigator, indicating that there are areas requiring improvement within its operations and financial practices. The organization demonstrates strengths in having a fully independent board and a high program expense ratio, suggesting that a significant portion of its resources is directed towards its mission-related activities.
However, notable limitations are present, particularly regarding financial transparency, as the organization has not provided financial statements, which significantly impacts its accountability score. Additionally, the absence of a whistleblower policy and document retention protocols raises concerns about governance practices. While the organization has a solid framework in some areas, enhancing transparency and accountability would improve its overall rating and stakeholder trust.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Family Medicine Residency Corporation Inc legitimate?
Madison Family Medicine Residency Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Family Medicine Residency Corporation 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.
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For more financial information, click here
Official website here: www.fammed.wisc.edu/madison
What is the mission statement of Madison Family Medicine Residency Corporation Inc?
Madison Family Medicine Residency Corporation Inc's primary role is to offer facilities for Family Medicine residency programs at the University of Wisconsin School of Medicine and Public Health. This corporation works towards leasing clinic facilities to the Department of Family Medicine and Community Health at the mentioned university, ensuring the availability of these spaces for residency programs at or below fair market rental rates. In essence, Madison Family Medicine Residency Corporation Inc contributes to the medical education sector by providing necessary facilities for the training of future family medicine professionals.
Official website here: www.fammed.wisc.edu/madison
Who is the CEO of Madison Family Medicine Residency Corporation Inc?
David Rakel Md is the President of Madison Family Medicine Residency Corporation Inc.
Official website here: www.fammed.wisc.edu/madison
What is the revenue of Madison Family Medicine Residency Corporation Inc?
Madison Family Medicine Residency Corporation Inc's revenue in 2022 was $513,444.
Official website here: www.fammed.wisc.edu/madison
Who are the executives of Madison Family Medicine Residency Corporation Inc and what are their salaries?
There 20 volunteers at Madison Family Medicine Residency Corporation Inc.
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Official website here: www.fammed.wisc.edu/madison
Where can I find the form 990 for Madison Family Medicine Residency Corporation Inc?
Madison Family Medicine Residency Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fammed.wisc.edu/madison
Learn more at the official website: www.fammed.wisc.edu/madison
Mission Statement of Madison Family Medicine Residency Corporation Inc
Madison Family Medicine Residency Corporation Inc is committed to providing facilities for family medicine residency programs at the University of Wisconsin School of Medicine and Public Health. In essence, the organization leases clinic spaces to the Department of Family Medicine and Community Health at the University of Wisconsin School of Medicine and Public Health, offering these facilities for family medicine residency programs at rates below fair market value. This arrangement enables the University to offer comprehensive training programs for future family physicians, preparing them to deliver quality healthcare services to communities. Madison Family Medicine Residency Corporation Inc's mission supports the University's goal of producing skilled and compassionate healthcare professionals, contributing to the well-being of families and communities across various regions.
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Impact
July, 2024
Madison Family Medicine Residency Corporation Inc plays a crucial role in supporting the training of future family medicine practitioners at the University of Wisconsin School of Medicine and Public Health. By providing facilities for family medicine residency programs at or below fair market rental rates, the organization enables aspiring doctors to receive high-quality education and hands-on experience in the field of family medicine. This support helps to address the shortage of primary care physicians in many communities, ultimately contributing to better access to healthcare services for patients.
This information is meant to be a general summary of Madison Family Medicine Residency Corporation 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.
- Program Service Revenue: $513,444
- Gross Receipts: $513,444
Assets and Liabilities:
- Total Assets: $6,811,121
- Total Liabilities: $4,318,630
- Net Assets: $2,492,491
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$513,444
Organization Details
Founding Year
1993
Phone
(608) 263-4550Principal Officer
David Rakel Md
Main Address
610 WHITNEY WAY, MADISON, WI, 53705
Website
www.fammed.wisc.edu/madisonNTEE Category
Code: E31 - Health
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