Col Patrick S Madigan Foundation

Nonprofit profile at a glance

EIN
911665384
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lakewood, WA, USA
Phone
2535885900
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Birth Defects, Genetic Diseases Research

Official website

Reported finances

Revenue
$80,054
Expenses
$60,593
Assets
$949,704
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • RACHANEE CURRY (PRESIDENT)

People named in this filing

  • RACHANEE CURRY (PRESIDENT)
  • GEORGE MCCLURE (PAST PRESIDE)
  • TIM M WOOD CPA (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Among it's many programs, the foundation provides medical support to service members- and their families, offers scholarships and grants to families and staff, supports a host of programs for children, supports educational conferences, sponsors an annual lecture on military medical research, supports medical research and clinical care with equipment and training. Since its' establishment, with the generosity of it's supporters, the foundation has provided over 1,461,022 in equipment and services.

What it reported doing in 2024

Young heroes program- brave soldiers can wear many different uniforms- fighting a life-threatening illness is like fighting a war and one of those uniforms can be childrens clothes. These children are the soldiers beyond the battlefield and are family members of the armed services whose great heroism deserve special recognition. Since 1999, the madigan foundation has sponsored the program as an annual event at madigan army medical center; and has honored many children over the last 23 years. Children can be nominated by friends, family, teachers, and physicians- and are selected for their outstanding demonstration of courage and valor.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 93
  • Accountability: 82
  • Sustainability: 72
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66%; rating input score 66
  • Program expense ratio: 71.6%; rating input score 72
  • Fundraising efficiency: $4.26 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24.3%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 15.67; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -6.3% per year; rating input score 0; 35th percentile among comparable filings
  • Revenue growth: -13% per year; rating input score 0; 27th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 66% of revenue deployed · 71.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $43K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.