Madison Area Technical College Foundation Inc

Nonprofit profile at a glance

EIN
237265867
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
6082466441
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$6,768,986
Expenses
$7,731,708
Assets
$27,208,443
Liabilities
$1,946,615

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

Leadership & pay

16 people listed

Executive titles in this filing

  • TAMMY THAYER (CHIEF EXECUTIVE OFFICER)
  • BILL BEISENSTEIN (PRESIDENT)
  • TODD LUDGATE (VICE PRESIDENT)

Highest reported compensation

  • TAMMY THAYER (CHIEF EXECUTIVE OFFICER): $267,682 total reported compensation
  • CHAD MARGENAU (VP FINANCE AND OPERATIONS (THRU 01/2025)): $185,011 total reported compensation
  • BRYAN WOODHOUSE (VP OF DEVELOPMENT): $180,977 total reported compensation

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

Overview

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.

What it reported doing in 2024

Campaign - the stand by you campaign is complete as of the end of fy25.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.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 90% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.6%; rating input score 82
  • Fundraising efficiency: $9.62 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: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.2%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 3.52; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 65; 65th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $6.3M in reported program spending
  • Leadership: top reported pay $268K · 16 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.
  • High — Sustainability: Operating margin scored 10/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.