Madison Gas & Electric Foundation Inc
- Assets
- $35.3m
- Revenue
- $3.0m
- Investments
- $32.5m
- Employees
- 0
- Location
- Madison, WI
- Founding
- 12/1966
- Data as of
- 12/2022
- EIN
- 39-6098118
Organization Overview
Madison Gas & Electric Foundation Inc is located in Madison, WI. The organization was established in 1966. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Gas & Electric Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Madison Gas & Electric Foundation Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.1% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 5.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Madison Gas & Electric Foundation Inc has awarded 1,324 individual grants totaling $10,737,824. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT THE PROGRAMS OF CHARITABLE AND OTHER EXEMPT ORGANIZATIONS PREDOMINANTLY LOCATED IN THE MADISON AREA. 202 GRANTS WERE AWARDED DURING 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Keebler President And Chairman | 1 | $0 | |
Cari Anne Renlund Secretary | 1 | $0 | |
Tamara Johnson Vice President And Treasurer | 1 | $0 | |
Jared Bushek Vice President | 1 | $0 | |
Gary Wolter Director | 1 | $0 | |
Lynn K Hobbie Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,000,000 |
| Interest on Savings | $3,120 |
| Dividends & Interest | $514,690 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $510,170 |
| Capital Gain Net Income | $510,170 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,027,980 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $130,389 |
| Contributions, gifts, grants paid | $1,859,117 |
| Total expenses and disbursements | $1,989,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,297 |
| Savings and temporary cash investments | $89,287 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $2,000,000 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $666,181 |
| Total assets | $35,337,030 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Madison Gas & Electric Foundation Inc has awarded $1,859,117 in support to 203 organizations.
| Grant Recipient | Amount |
|---|---|
100 BLACK MEN OF MADISON INC PURPOSE: GENERAL SUPPORT | $3,000 |
ACCESS TO INDEPENDENCE PURPOSE: GENERAL SUPPORT | $700 |
ACCESS COMMUNITY HEALTH CENTERS PURPOSE: GENERAL SUPPORT | $1,000 |
AFFORDABLE DENTAL CARE PURPOSE: GENERAL SUPPORT | $2,000 |
AGRACE HOSPICECARE PURPOSE: GENERAL SUPPORT | $5,000 |
ALDO LEOPOLD NATURE CENTER PURPOSE: GENERAL SUPPORT | $15,000 |