Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $446,570

• 1f · All other contributions, gifts and grants

  $7,033,606

• 3 · Investment income

  total $279,478 · excluded $279,478

• 8a · Fundraising events: gross income

  $0

• 8a · Fundraising events: contributions included on line 1c

  $446,570

• 8b · Fundraising events: direct expenses

  $165,975

• 8c · Net income from fundraising events

  total -$165,975 · excluded -$165,975

• 11a · Other revenue: GREATER MILWAUKEE FOUN

  total $4,839 · related or exempt $4,839

• 11e · Other revenue, total

  $4,839

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,093,976 · program services $6,093,976

• 5 · Compensation of officers, directors and key employees

  total $521,221 · program services $140,156 · management and general $142,711 · fundraising $238,354

• 7 · Other salaries and wages

  total $1,116,109 · program services $475,024 · management and general $377,187 · fundraising $263,898

• 8 · Pension plan contributions

  total $50,315 · program services $11,381 · management and general $13,776 · fundraising $25,158

• 9 · Other employee benefits

  total $94,150 · program services $25,317 · management and general $25,778 · fundraising $43,055

• 10 · Payroll taxes

  total $112,336 · program services $30,207 · management and general $30,758 · fundraising $51,371

• 11f · Fees: investment management

  total $24,891 · management and general $24,891

• 11g · Fees: other

  total $216,602 · management and general $102,694 · fundraising $113,908

• 12 · Advertising and promotion

  total $139,067 · program services $3,340 · fundraising $135,727

• 13 · Office expenses

  total $43,925 · program services $14,891 · management and general $13,407 · fundraising $15,627

• 14 · Information technology

  total $185,325 · program services $67,640 · management and general $28,006 · fundraising $89,679

• 16 · Occupancy

  total $106,385 · program services $35,225 · management and general $32,860 · fundraising $38,300

• 17 · Travel

  total $24,278 · program services $8,114 · management and general $12,178 · fundraising $3,986

• 19 · Conferences, conventions and meetings

  total $9,124 · management and general $4,562 · fundraising $4,562

• 23 · Insurance

  total $17,783 · program services $5,888 · management and general $5,493 · fundraising $6,402

• 24a · Other expenses: BANK AND CREDIT CARD FE

  total $100,884 · management and general $50,442 · fundraising $50,442

• 24b · Other expenses: EVENTS AND DONOR BENEFI

  total $45,542 · program services $8,950 · fundraising $36,592

• 24c · Other expenses: MISCELLANEOUS

  total $2,642 · management and general $2,642

• 24d · Other expenses: FEES AND PERMITS

  total $130 · management and general $130

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $760,986 · end of year $726,868

• 2 · Savings and temporary cash investments

  beginning of year $2,500,557 · end of year $2,132,953

• 3 · Pledges and grants receivable

  beginning of year $3,438,276 · end of year $3,387,908

• 9 · Prepaid expenses and deferred charges

  beginning of year $22,143 · end of year $29,968

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

  $182,244

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

  $90,212

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $92,032

• 11 · Investments: publicly traded securities

  beginning of year $5,751,561 · end of year $5,229,999

• 15 · Other assets

  beginning of year $936,573 · end of year $1,054,250

• 17 · Accounts payable and accrued expenses

  beginning of year $86,802 · end of year $153,360

• 21 · Escrow or custodial account liability

  beginning of year $1,060,779 · end of year $1,110,472

• 25 · Other liabilities

  beginning of year $186,573 · end of year $120,169

• 27 · Net assets without donor restrictions

  beginning of year $9,922,888 · end of year $9,929,471

• 28 · Net assets with donor restrictions

  beginning of year $2,153,054 · end of year $1,340,506

The filer's explanations (Part III)

PART I, LINE 1A

UNIVERSITY CLUB IS A FACILITY USED FOR MEETINGS, LUNCHEONS AND DINNERS. THE PRESIDENT USES THE SOCIAL CLUB MEMBERSHIP FOR DONOR CULTIVATION. BECAUSE THE EXPENSE IS FOR ROUTINE BUSINESS NEEDS THE AMOUNT IS NOT CONSIDERED TAXABLE COMPENSATION FOR THE PRESIDENT.

PART I, LINE 3

AN EXTERNAL SEARCH FIRM IS HIRED AND WORKS WITH AN INTERNALLY FORMED CEO SEARCH COMMITTEE REPRESENTED BY OFFICERS AND AT-LARGE BOARD MEMBERS. ALL COMPENSATION SURVEY DATA, BUDGET PROJECTIONS AND RELATED BENEFIT DATA IS PROVIDED TO THE INTERNAL CEO SEARCH COMMITTEE. UPON REVIEW OF SUCH DATA, DISCUSSIONS ARE HELD WITH THE EXTERNAL SEARCH FIRM TO ESTABLISH THE APPROPRIATE GOALS AND COMPENSATION RANGE FOR THE OPEN POSITION.

PART I, LINE 4A

CHRISTINE HOJNACKI RECIEVED A SEVERANCE PAYMENT OF $23,345 IN 2023.

PART I, LINE 7

THE BOARD CHAIR PERFORMS THE PRESIDENT'S ANNUAL EVALUATION, INCLUDING A PERCENTAGE TREND COMPARISON OF BONUSES AWARDED TO OFFICERS AT UPAF AS WELL AS HOW OTHER SIMILAR NONPROFITS COMPENSATE THEIR PRESIDENT.