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Nonprofiteer
← DESTINATION MADISON FOUNDATION INC

Form 990 for tax year 2022

Filed by DESTINATION MADISON FOUNDATION INC.

Totals

Total revenue
$53,853
Total expenses
$147,737
Contributions and grants received
$51,295
Grants paid
$141,303
Program service revenue
$0
Investment income
$2,558
Other revenue
$0
Total assets, end of year
$397,791
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$397,791
Program services expenses (Part IX)
$147,737
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$147,737

Program services were 100.0% 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.

  • 1d · Related organizations

    $7,500

  • 1f · All other contributions, gifts and grants

    $43,795

  • 3 · Investment income

    total $2,558 · excluded $2,558

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $141,303 · program services $141,303

  • 24e · All other expenses

    total $6,434 · program services $6,434

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $500,025 · end of year $397,791

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,350 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $409,943 · end of year $308,717

  • 28 · Net assets with donor restrictions

    beginning of year $81,732 · end of year $89,074

Mission and programs · 2022

Mission

DESTINATION MADISON FOUNDATION, INC. IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY TO FURTHER THE WELL-BEING OF THE GREATER MADISON CONVENTION & VISITORS BUREAU, INC.IN CONNECTION WITH AND IN FURTHERANCE THEREOF, THE CORPORATION SHALL HAVE THE FOLLOWING PURPOSES:-TO PROVIDE INFORMATION TO THE RESIDENTS OF AND VISITORS TO THE GREATER MADISON/DANE COUNTY AREA REGARDING THE DIVERSE CULTURAL, EDUCATIONAL, SCIENTIFIC, CIVIC AND ATHLETIC BENEFITS OF LIVING AND WORKING IN THE GREATER MADISON/DANE COUNTY AREA.-TO PROVIDE RESOURCE SUPPORT FOR EVENTS HOSTED BY THE CITY OF MADISON AND/OR THE GMCVB THAT PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT WITHIN THE GREATER MADISON/DANE COUNTY AREA.-TO CONDUCT RESEARCH AND DISSEMINATE DATA REGARDING ECONOMIC DEVELOPMENT WITHIN THE GREATER MADISON/DANE COUNTY AREA.-TO RECEIVE, OBTAIN, CONTROL, HOLD, ADMINISTER, INVEST AND REINVEST AND DISBURSE FUNDS AND PROPERTY OF ANY TYPE AS MAY BE RECEIVED BY THE CORPORATION, EITHER ABSOLUTELY OR IN TRUST,

Activities or mission (Part I)

PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT AND WELL-BEING OF DIVERSE POPULATIONS WITHIN THE GREATER MADISON/DANE COUNTY AREA.

  • PROVIDE RESOURCE SUPPORT FOR EVENTS HOSTED BY THE CITY OF MADISON AND/OR THE GREATER MADISON CONVENTION & VISITORS BUREAU, INC. THAT PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT WITHIN THE GREATER MADISON/DANE COUNTY AREA. $100,000 WAS PROVIDED TO GREATER MADISON CVB TO SUPPORT THE CROSSFIT GAMES RIGHTS FEES FOR 2022.

    Expenses $100,000 · Grants $100,000

  • ADMINISTER YOUTH SPORT GRANT CONTRIBUTION RECEIPTS AND PROVIDE GRANTS TO AREA CHARITIES SUPPORTING YOUTH SPORTS.

    Expenses $47,737 · Grants $41,303

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

Listed in Part VII

  • Joel Weitz

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jeanette Riechers

    VICE CHAIR (THRU JUN 2022)

    Total calculated
    $0
    Hours/week
    0.5

  • Ellsworth Brown

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Lauren Birkel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Jim Bradley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Greg Frank

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • Lynn Hobbie

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Julie Peterman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Tom Ziarnik

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Ellie Westman Chin

    PRESIDENT/CEO

    Total calculated
    $282,984
    From this org
    $0
    From related orgs
    $254,063
    Other
    $28,921
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $221,263 related
    Bonus
    $0 + $32,800 related
    Other
    $0
    Deferred
    $0 + $8,768 related
    Nontaxable benefits
    $0 + $20,153 related
    Filer's total
    $0 + $282,984 related

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

None.

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

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MADISON EVENTS LLC

    BUCKY ON PARADE · WI · income $0 · assets $0

    Directly controlled by DESTINATION MADISON FOUNDATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
10 April 2023
IRS schema version
2022v5.0
Source object
202321239349300612

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