Wmc Foundation Inc

Nonprofit profile at a glance

EIN
391394068
IRS 990 coverage
2011–2025
Forms available
Form 990 2025, Form 990-T 2023
Location
Madison, WI, USA
Phone
6082583400
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,965,569
Expenses
$1,295,251
Assets
$6,546,132
Liabilities
$1,536,852

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • KURT BAUER (CHAIRMAN/CEO)
  • WADE GOODSELL (PRESIDENT)

Highest reported compensation

  • KURT BAUER (CHAIRMAN/CEO): $678,211 total reported compensation
  • WADE GOODSELL (PRESIDENT): $297,097 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Wmc foundation, inc.'s mission is to provide business and economics education, promote the value of the free enterprise system and ensure a high quality of life for our citizens.

What it reported doing in 2025

Educational programs: informational seminars, webinars, research studies, reports, meetings, and conferences relating to a variety of topics including health care, environment, education, leadership, energy, transportation, taxes, human resources, and legal reform.Wisconsin business world is a program of the foundation aimed at providing high school students with economic and financial literacy education while teaching the importance of free-market enterprise. Business world hosts summer camps each year and numerous one-day "mini" programs during the school year for school districts around the state. Students participate in hands-on exercises that easily relate to the everyday life of running a business and finish each program with a better understanding of the intricacies of business. The program also exposes students to the variety of different career opportunities available after high school or college.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 67
  • Accountability: 87
  • Sustainability: 72
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42.2%; rating input score 42
  • Program expense ratio: 63.6%; rating input score 64
  • Fundraising efficiency: $10.58 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 27th 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: 89%; rating input score 89; 42nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.7%; rating input score 95; 28th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 34.1%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 5.05; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 7.6%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: -8.8% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -4.5% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 42.2% of revenue deployed · 63.6% of spending went to programs
  • Governance: 18 of 19 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $824K in reported program spending
  • Leadership: top reported pay $678K · 25 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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: Mission deployment rate scored 42/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.