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Nonprofiteer
← MADISON AREA TECHNICAL COLLEGE FOUNDATION INC

Form 990 for tax year 2022

Filed by MADISON AREA TECHNICAL COLLEGE FOUNDATION INC.

Totals

Total revenue
$5,512,141
Total expenses
$3,265,175
Contributions and grants received
$4,164,607
Grants paid
$1,709,173
Program service revenue
$417,964
Investment income
$604,775
Other revenue
$324,795
Total assets, end of year
$23,630,068
Total liabilities, end of year
$1,305,901
Net assets or fund balances, end of year
$22,324,167
Program services expenses (Part IX)
$2,173,695
Management and general expenses
$618,216
Fundraising expenses
$473,264
Program service expenses (Part III)
$2,173,695

Program services were 66.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $4,164,607

  • 1g · Noncash contributions included above

    $59,349

  • 2a · Program service revenue: RENTAL REVENUE

    total $417,964 · related or exempt $417,964

  • 3 · Investment income

    total $298,652 · excluded $298,652

  • 7a · Gross sales of assets other than inventory

    securities $305,252

  • 7b · Less cost or other basis and sales expenses

    securities -$871

  • 7c · Gain or loss

    securities $306,123

  • 7d · Net gain or loss

    total $306,123 · excluded $306,123

  • 11d · All other revenue

    total $324,795 · excluded $324,795

  • 11e · Other revenue, total

    $324,795

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $59,547 · program services $59,547

  • 2 · Grants to domestic individuals

    total $1,649,626 · program services $1,649,626

  • 5 · Compensation of officers, directors and key employees

    total $258,375 · program services $25,836 · management and general $103,350 · fundraising $129,189

  • 7 · Other salaries and wages

    total $485,733 · program services $82,582 · management and general $197,094 · fundraising $206,057

  • 8 · Pension plan contributions

    total $27,874 · program services $6,899 · management and general $10,312 · fundraising $10,663

  • 9 · Other employee benefits

    total $56,386 · program services $12,897 · management and general $21,077 · fundraising $22,412

  • 10 · Payroll taxes

    total $49,799 · program services $7,626 · management and general $20,012 · fundraising $22,161

  • 11b · Fees: legal

    total $650 · management and general $650

  • 11c · Fees: accounting

    total $16,000 · management and general $16,000

  • 11f · Fees: investment management

    total $7,375 · management and general $7,375

  • 11g · Fees: other

    total $7,502 · management and general $4,002 · fundraising $3,500

  • 12 · Advertising and promotion

    total $33,108 · management and general $33,108

  • 13 · Office expenses

    total $8,330 · management and general $8,330

  • 14 · Information technology

    total $49,713 · program services $19,928 · management and general $6,190 · fundraising $23,595

  • 17 · Travel

    total $31,161 · management and general $6,349 · fundraising $24,812

  • 19 · Conferences, conventions and meetings

    total $12,572 · management and general $12,572

  • 22 · Depreciation, depletion and amortization

    total $110,238 · management and general $110,238

  • 23 · Insurance

    total $6,337 · management and general $6,337

  • 24a · Other expenses: COLLEGE PROGRAMMING

    total $308,754 · program services $308,754

  • 24e · All other expenses

    total $86,095 · management and general $55,220 · fundraising $30,875

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $876,151 · end of year $1,022,420

  • 2 · Savings and temporary cash investments

    beginning of year $529,107 · end of year $1,360,732

  • 3 · Pledges and grants receivable

    beginning of year $1,265,917 · end of year $1,591,869

  • 4 · Accounts receivable

    end of year $17,152

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,043 · end of year $58,037

  • 10a · Land, buildings and equipment: cost or other basis

    $4,257,632

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,196,504

  • 10c · Land, buildings and equipment, net

    beginning of year $3,417,101 · end of year $3,061,128

  • 11 · Investments: publicly traded securities

    beginning of year $13,225,490 · end of year $15,102,257

  • 12 · Investments: other securities

    beginning of year $194,075 · end of year $208,312

  • 15 · Other assets

    beginning of year $823 · end of year $1,208,161

  • 17 · Accounts payable and accrued expenses

    beginning of year $60,747 · end of year $66,020

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,239,881

  • 27 · Net assets without donor restrictions

    beginning of year $2,887,840 · end of year $3,177,494

  • 28 · Net assets with donor restrictions

    beginning of year $16,599,120 · end of year $19,146,673

Mission and programs · 2022

Mission

THE MISSION OF MADISON AREA TECHNICAL COLLEGE FOUNDATION IS TO ENRICH LIVES AND STRENGTHEN OUR COMMUNITY THROUGH THE ACQUISITION OF PRIVATE FUNDING IN SUPPORT OF HIGH QUALITY OPEN ACCESS EDUCATION AT MADISON COLLEGE.

Activities or mission (Part I)

TO SUPPORT MADISON AREA TECHNICAL COLLEGE AND THEIR STUDENTS.

  • SCHOLARSHIPS - MADISON AREA TECHNICAL COLLEGE FOUNDATION, INC. PROVIDES SCHOLARSHIPS SOLELY FOR STUDENTS OF THE MADISON AREA TECHNICAL COLLEGE. SCHOOL SCHOLARSHIPS HELP STUDENTS AFFORD ACCESS TO THE COLLEGE AND REWARD ACADEMIC EXCELLENCE.

    Expenses $1,625,436 · Grants $1,625,436

  • GENERAL PROGRAM ACTIVITIES - MADISON AREA TECHNICAL COLLEGE FOUNDATION MANAGES PROGRAM FUNDS ON BEHALF OF MADISON COLLEGE DEPARTMENTS TO SUPPORT THEIR FUNDRAISING EFFORTS.

    Expenses $524,069 · Grants $59,547 · Revenue $417,964

  • GRANTS -MADISON AREA TECHNICAL COLLEGE FOUNDATION, INC. PROVIDES SMALL AMOUNTS OF FINANCIAL ASSISTANCE TO RETAIN STUDENTS WHO ARE ENROLLED BUT ENCOUNTER FINANCIAL EMERGENCIES FOR WHICH THE STUDENTS DO NOT HAVE OTHER RESOURCES.

    Expenses $24,190 · Grants $24,190

  • CAMPAIGN:STAND BY YOU CAMPAIGN - THE HISTORIC $30 MILLION CAMPAIGN HAS FOUR IMPORTANT OBJECTIVES:SMART FUTURE SCHOLARSHIPS - PROVIDE EXPANDED STUDENT SCHOLARSHIPS, WHICH DELIVER FUNDING FOR STUDENTS TO HELP THEM ACHIEVE THEIR DREAMS IN THE 150+ PROFESSIONAL FIELDS THAT IMPACT YOUR COMMUNITY EVERY DAY.EMERGENCY GRANTS - ASSIST STUDENTS WHO FACE FINANCIAL BURDENS SUCH AS LACK OF FOOD, TRANSPORTATION ISSUES, MEDICAL BILLS, FAMILY CRISES AND OTHER FINANCIAL CHALLENGES.SCHOLARS OF PROMISE - THIS INITIATIVE BENEFITS LOW-INCOME RECENT HIGH SCHOOL GRADUATES WHO HAVE THE MOTIVATION TO COMPLETE THEIR COLLEGE EDUCATION, BUT LACK FINANCIAL RESOURCES. WE DO THIS BY PROVIDING FINANCIAL AID AND SCHOLARSHIPS TO COVER THE COST OF TUITION, IN ADDITION TO PROVIDING WRAP AROUND SUPPORT SERVICES AND MENTORSHIP THROUGHOUT THEIR EDUCATIONAL JOURNEY AT MADISON COLLEGE.PLANNED GIFTS - HELP REALIZE OF OUR VISION THAT NO STUDENT BE DENIED AN EDUCATION DUE TO FINANCIAL BARRIERS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robin Roberts

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Todd Ludgate

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Bill Beisenstein

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Debra Lange

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Gordon Derzon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tim O'Brien

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Riordan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marshall Mennenga

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Beth Jefferson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Feller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katie Hottman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cory Simms

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tracy Schweitzer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tammy Thayer

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $258,375
    From this org
    $240,737
    From related orgs
    $0
    Other
    $17,638
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,737
    Bonus
    $40,000
    Other
    $0
    Deferred
    $8,967
    Nontaxable benefits
    $8,671
    Filer's total
    $258,375

  • Chad Margenau

    VP FINANCE AND OPERATIONS

    Total calculated
    $161,909
    From this org
    $147,319
    From related orgs
    $0
    Other
    $14,590
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,319
    Bonus
    $15,000
    Other
    $0
    Deferred
    $5,919
    Nontaxable benefits
    $8,671
    Filer's total
    $161,909

  • Margaret Kratz

    VP OF PHILANTHROPY

    Total calculated
    $104,713
    From this org
    $100,017
    From related orgs
    $0
    Other
    $4,696
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, LINE 1A
THE CHIEF EXECUTIVE OFFICER AND THE VP OF PHILANTHROPY HAD THEIR ROTARY CLUB DUES PAID BY THE ORGANIZATION. NO PART OF THIS BENEFIT WAS TREATED AS TAXABLE COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • MADISON AREA TECHNICAL COLLEGE

    $59,547

    COLLEGE PROGRAMMING AND CAPITAL PROJECTS

Provenance

Return type
form_990
Tax year
2022
Filed
18 December 2023
IRS schema version
2022v5.0
Source object
202411059349301111

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