Madison Gas & Electric Foundation Inc
- Assets
- $41.8m
- Revenue
- $4.1m
- Investments
- $38.3m
- Employees
- 0
- Location
- Madison, WI
- Founding
- 12/1966
- Data as of
- 12/2021
- 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 12/2021, Madison Gas & Electric Foundation Inc generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.6% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 4.8% per year over the past 7 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 1,121 individual grants totaling $8,878,707. 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
2021
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. 178 GRANTS WERE AWARDED DURING 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tamara Johnson Vice President And Treasurer | 1 | $0 | |
Jeffrey Keebler President And Chairman | 1 | $0 | |
Jared Bushek Vice President | 1 | $0 | |
Gary Wolter Director | 1 | $0 | |
Cari Anne Renlund Secretary | 1 | $0 | |
Lynn K Hobbie Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,500,000 |
| Interest on Savings | $16 |
| Dividends & Interest | $1,356,372 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $278,984 |
| Capital Gain Net Income | $278,984 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,135,372 |
| 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 | $124,348 |
| Contributions, gifts, grants paid | $1,636,500 |
| Total expenses and disbursements | $1,760,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160,476 |
| Savings and temporary cash investments | $481,088 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $2,500,000 |
| 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 | $373,333 |
| Total assets | $41,777,011 |
| 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 $1,636,500 in support to 176 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, WI PURPOSE: GENERAL SUPPORT | $149,000 |
Madison, WI PURPOSE: COMMUNITY EMERGENCY FUND | $100,000 |
Madison, WI PURPOSE: GENERAL SUPPORT | $100,000 |
MADISON METROPOLITAN SCHOOL DISTRICT FOUNDATION PURPOSE: GENERAL SUPPORT | $100,000 |
KEEP WISCONSIN WARMCOOL FUND PURPOSE: GENERAL SUPPORT | $80,000 |
SECOND HARVEST FOODBANK PURPOSE: GENERAL SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Irving S Gilmore Foundation Kalamazoo, MI | $388,410,325 | $41,180,610 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |