Overview
What is Madison Community Foundation?
The Madison Community Foundation is a nonprofit organization headquartered at 111 N Fairchild St 260, Madison, WI, 53703. Established in Wisconsin, the foundation specializes in creating and managing permanent charitable funds. It administers and invests these funds, granting the proceeds primarily to charitable organizations, primarily in Dane County, Wisconsin. The organization accepts contributions from donors, totaling 2,931 in 2022. Its investment return, net of fees, was 5.6% over three years, 6.5% over five years, and 7.5% over ten years, as of December 31, 2022. The foundation distributed 1,904 grants in total, with 68% going to Dane County recipients, 17% to other Wisconsin organizations, and 15% to organizations in other states. The mission of Madison Community Foundation is to inspire giving, support meaningful initiatives, and connect people for the common good, enhancing the community through philanthropy. The foundation employs a team of 17 individuals.
Official website here: www.madisongives.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%
The Madison Community Foundation has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, indicating a high level of transparency and financial health. This score is a direct reflection of its perfect Accountability & Finance score, which highlights its strong governance practices and adherence to financial management standards.
Key strengths of the foundation include having a fully independent board of directors, with 100% independence among its members, and robust financial oversight, evidenced by a solid audit and oversight committee. Additionally, the foundation has demonstrated a commitment to ethical practices through the establishment of conflict of interest and whistleblower policies, which are crucial for maintaining public trust.
Despite its strengths, user feedback or additional limitations were not noted in the available data. Overall, the Madison Community Foundation exemplifies a well-managed nonprofit that prioritizes accountability and effective use of funds, making it a trustworthy choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Community Foundation legitimate?
Madison Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Community Foundation 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: $771,588
Professional Fundraising Fees: $0
Other Salaries and Wages: $678,108
For more financial information, click here
Official website here: www.madisongives.org
What is the mission statement of Madison Community Foundation?
The Madison Community Foundation plays a crucial role in managing charitable funds for individuals, nonprofits, and businesses. With its extensive knowledge and assets, the foundation fosters giving, supports meaningful initiatives, and connects people for the common good. The mission of the Madison Community Foundation is geared towards enhancing the common good through philanthropy. This is accomplished by creating permanent charitable funds, administering and investing these funds, and granting money to various charitable organizations, primarily in their area of focus. The foundation grants funds both through a competitive proposal process and in response to recommendations from donor fundholders. In the previous year, they distributed a significant number of grants and held numerous funds. The majority of grants went to organizations located in their primary focus area.
Official website here: www.madisongives.org
Who is the CEO of Madison Community Foundation?
Robert Sorge is the President & Ceo of Madison Community Foundation. The CEO's salary of Madison Community Foundation is $223,882 and their total compensation is $259,636.
Official website here: www.madisongives.org
What is the revenue of Madison Community Foundation?
Madison Community Foundation's revenue in 2022 was $36,932,800.
Official website here: www.madisongives.org
Who are the executives of Madison Community Foundation and what are their salaries?
The average compensation at Madison Community Foundation during 2022 was $85,276. There are 17 employees and 25 volunteers at Madison Community Foundation.
Here are 21 key members and their salaries (Madison Community Foundation's CEO's salary is $223,882 and their total compensation is $259,636):
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- Compensation: $223,882
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- Compensation: $132,196
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- Other: $10,312
Official website here: www.madisongives.org
Where can I find the form 990 for Madison Community Foundation?
Madison Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.madisongives.org
Learn more at the official website: www.madisongives.org
Mission Statement of Madison Community Foundation
The Madison Community Foundation, a local philanthropic organization, is dedicated to enhancing the common good through charitable giving. With a deep understanding of the community and its assets, the Foundation inspires generosity, supports meaningful initiatives, and connects people for the betterment of society.
The Madison Community Foundation's primary mission revolves around the creation of permanent charitable funds, the administration and investment of these funds, and the granting of resources to charitable organizations, primarily in Dane County, Wisconsin. Grants are distributed both through a competitive proposal process and in response to recommendations from donor fundholders. In the year 2022, 34 new funds were established, and a total of 1,235 funds were held at the end of the year. Generous contributions totaling 2,931 were received from 1,284 donors. The Foundation boasts impressive investment returns, with a net annualized return of 5.6% over three years, 6.5% over five years, and 7.5% over ten years. In a survey of peer community foundations, Madison Community Foundation ranked in the top percentiles for these investment returns.
In the past year, a total of 1,904 grants were distributed, with 68% of these grants benefiting organizations within Dane County and 17% supporting organizations in other Wisconsin counties. A further 15% of grants were allocated to organizations in other states. The Madison Community Foundation plays a crucial role in the community by supporting a diverse range of charitable causes and empowering the generosity of individuals and businesses for the greater good.
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Impact
October, 2024
Madison Community Foundation significantly enhances the common good through its stewardship of local charitable funds, connecting individuals and businesses to impactful giving opportunities. By creating and managing permanent charitable funds, the foundation ensures a sustainable approach to philanthropy in Dane County, Wisconsin.
In 2022 alone, 34 new funds were established, contributing to a total of 1,235 funds actively held. This growth showcases the foundation’s ability to inspire local giving, with 2,931 contributions received from 1,284 donors within the year. Through a robust competitive grant-making process and responsive donor recommendations, the foundation distributed 1,904 grants, with 68% of those benefiting organizations in Dane County.
The foundation's fiscal management is commendable, delivering strong annualized investment returns over various timeframes and maintaining a high percentile ranking among peer community foundations. By aligning financial stewardship with community needs, Madison Community Foundation fosters meaningful initiatives and strengthens connections among donors and beneficiaries, ultimately advancing philanthropic efforts throughout the region.
This information is meant to be a general summary of Madison Community Foundation. 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: $7,308,063
- Gross Receipts: $76,819,828
Assets and Liabilities:
- Total Assets: $272,378,291
- Total Liabilities: $34,884,573
- Net Assets: $237,493,718
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Organization Details
Founding Year
1942
Phone
(608) 232-1763Principal Officer
Robert Sorge
Main Address
111 N FAIRCHILD ST 260, MADISON, WI, 537032830
Website
www.madisongives.orgNTEE Category
Code: T310 - Philanthropy
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