The Madison Foundation

Nonprofit profile at a glance

EIN
061450717
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Madison, CT, USA
Phone
2032453887
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health - General and Rehabilitative N.E.C.

Reported finances

Revenue
$505,167
Expenses
$363,810
Assets
$2,450,342
Liabilities
$0

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

Leadership & pay

13 people listed

Executive titles in this filing

  • DAVID ALLEN (President)
  • STEPHEN DOWLER (Vice President)

People named in this filing

  • DAVID ALLEN (President)
  • STEPHEN DOWLER (Vice President)
  • ANDREW CIALEK (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

Charitable

What it reported doing in 2024

N2N program (Neighbor to Neighbor) - helping Town of Madison residents through current challenging times by monitoring and supporting the Town of Madison's social services and food pantry's needs.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 59
  • Accountability: 88
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.7%; rating input score 67
  • Program expense ratio: 79.9%; rating input score 80
  • Fundraising efficiency: $121.99 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 49%; rating input score 49; 28th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 28%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 6.74; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 13.1% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 9% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 11.5% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 66.7% of revenue deployed · 79.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $291K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 49/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.