Form 990 for tax year 2023
Filed by MADISON AREA TECHNICAL COLLEGE FOUNDATION INC.
Totals
- Total revenue
- $5,014,229
- Total expenses
- $3,722,572
- Contributions and grants received
- $3,771,977
- Grants paid
- $1,985,905
- Program service revenue
- $209,530
- Investment income
- $721,847
- Other revenue
- $310,875
- Total assets, end of year
- $26,412,340
- Total liabilities, end of year
- $1,363,613
- Net assets or fund balances, end of year
- $25,048,727
- Program services expenses (Part IX)
- $2,646,233
- Management and general expenses
- $712,631
- Fundraising expenses
- $363,708
- Program service expenses (Part III)
- $2,646,233
Program services were 71.1% 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
$3,771,977
-
1g · Noncash contributions included above
$315,897
-
2a · Program service revenue: RENTAL REVENUE
total $209,530 · related or exempt $209,530
-
3 · Investment income
total $480,975 · excluded $480,975
-
7a · Gross sales of assets other than inventory
securities $240,872
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $240,872
-
7d · Net gain or loss
total $240,872 · excluded $240,872
-
11d · All other revenue
total $310,875 · excluded $310,875
-
11e · Other revenue, total
$310,875
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $65,705 · program services $65,705
-
2 · Grants to domestic individuals
total $1,920,200 · program services $1,920,200
-
5 · Compensation of officers, directors and key employees
total $233,928 · program services $56,941 · management and general $102,341 · fundraising $74,646
-
7 · Other salaries and wages
total $483,012 · program services $66,363 · management and general $217,257 · fundraising $199,392
-
8 · Pension plan contributions
total $27,155 · program services $6,609 · management and general $11,880 · fundraising $8,666
-
9 · Other employee benefits
total $51,554 · program services $12,549 · management and general $22,554 · fundraising $16,451
-
10 · Payroll taxes
total $47,826 · program services $8,445 · management and general $21,660 · fundraising $17,721
-
11b · Fees: legal
total $3,110 · management and general $3,110
-
11c · Fees: accounting
total $19,000 · management and general $19,000
-
11f · Fees: investment management
total $8,285 · management and general $8,285
-
11g · Fees: other
total $27,759 · management and general $4,934 · fundraising $22,825
-
12 · Advertising and promotion
total $16,031 · management and general $16,031
-
13 · Office expenses
total $7,579 · management and general $7,579
-
14 · Information technology
total $55,946 · program services $19,929 · management and general $26,308 · fundraising $9,709
-
16 · Occupancy
total $50,871 · management and general $50,871
-
17 · Travel
total $30,102 · management and general $26,289 · fundraising $3,813
-
19 · Conferences, conventions and meetings
total $19,306 · management and general $19,306
-
22 · Depreciation, depletion and amortization
total $132,168 · management and general $132,168
-
23 · Insurance
total $11,353 · management and general $11,353
-
24a · Other expenses: COLLEGE PROGRAMMING
total $489,492 · program services $489,492
-
24e · All other expenses
total $22,190 · management and general $11,705 · fundraising $10,485
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,022,420 · end of year $681,750
-
2 · Savings and temporary cash investments
beginning of year $1,360,732 · end of year $2,501,311
-
3 · Pledges and grants receivable
beginning of year $1,591,869 · end of year $1,626,631
-
4 · Accounts receivable
beginning of year $17,152 · end of year $20,206
-
9 · Prepaid expenses and deferred charges
beginning of year $58,037 · end of year $73,075
-
10a · Land, buildings and equipment: cost or other basis
$4,260,332
-
10b · Land, buildings and equipment: accumulated depreciation
$1,305,674
-
10c · Land, buildings and equipment, net
beginning of year $3,061,128 · end of year $2,954,658
-
11 · Investments: publicly traded securities
beginning of year $15,102,257 · end of year $17,144,834
-
12 · Investments: other securities
beginning of year $208,312 · end of year $227,395
-
15 · Other assets
beginning of year $1,208,161 · end of year $1,182,480
-
17 · Accounts payable and accrued expenses
beginning of year $66,020 · end of year $132,091
-
25 · Other liabilities
beginning of year $1,239,881 · end of year $1,231,522
-
27 · Net assets without donor restrictions
beginning of year $3,177,494 · end of year $3,645,492
-
28 · Net assets with donor restrictions
beginning of year $19,146,673 · end of year $21,403,235
Mission and programs · 2023
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 $1,896,542 · Grants $1,896,542
-
GENERAL PROGRAM ACTIVITIES - MADISON AREA TECHNICAL COLLEGE FOUNDATION MANAGES PROGRAM FUNDS ON BEHALF OF MADISON COLLEGE DEPARTMENTS TO SUPPORT THEIR FUNDRAISING EFFORTS.
Expenses $660,328 · Revenue $209,530
-
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 $65,363 · Grants $65,363
-
CAPITAL CAMPAIGN SUPPORT FOR THE COLLEGE TO SUPPORT COLLEGE STRATEGIC INITIATIVES.
Expenses $24,000 · Grants $24,000
-
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 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Robin RobertsROBIN ROBERTS
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Todd LudgateTODD LUDGATE
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Bill BeisensteinBILL BEISENSTEIN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Debra LangeDEBRA LANGE
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Russell CannonRUSSELL CANNON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gordon DerzonGORDON DERZON
DIRECTOR (THRU 07/2023)
- Total calculated
- $0
- Hours/week
- 1
-
John FellerJOHN FELLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mario Garcia SierraMARIO GARCIA SIERRA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Katie HottmannKATIE HOTTMANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Beth JeffersonBETH JEFFERSON
DIRECTOR (THRU 05/2024)
- Total calculated
- $0
- Hours/week
- 1
-
Marshall MennengaMARSHALL MENNENGA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tim O'BrienTIM O'BRIEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James RiordanJAMES RIORDAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tracy SchweitzerTRACY SCHWEITZER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cory SimmsCORY SIMMS
DIRECTOR (THRU 05/2024)
- Total calculated
- $0
- Hours/week
- 1
-
Tammy ThayerTAMMY THAYER
CHIEF EXECUTIVE OFFICER
- Total calculated
- $255,972
- From this org
- $240,626
- From related orgs
- $0
- Other
- $15,346
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $210,626
- Bonus
- $30,000
- Other
- $0
- Deferred
- $6,036
- Nontaxable benefits
- $9,310
- Filer's total
- $255,972
-
Chad MargenauCHAD MARGENAU
VP FINANCE AND OPERATIONS
- Total calculated
- $171,845
- From this org
- $156,236
- From related orgs
- $0
- Other
- $15,609
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $138,736
- Bonus
- $17,500
- Other
- $0
- Deferred
- $6,292
- Nontaxable benefits
- $9,317
- Filer's total
- $171,845
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)
- PART I, LINE 1A
- THE CHIEF EXECUTIVE OFFICER AND THE VP OF DEVELOPMENT 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
$65,705
CAPITAL FOR EARLY LEARNING CENTER @ GSC, STUDENT TRAVEL ABROAD, SECOND CHANCE PELL GRANT ADVISOR
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 24 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202521199349300517
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