Madden-Mallory Foundation
- Assets
- $2.2m
- Revenue
- $1.6m
- Investments
- $1.8m
- Employees
- 0
- Location
- Luverne, IA
- Founding
- 05/1982
- Data as of
- 12/2023
- EIN
- 42-1176039
Organization Overview
Madden-Mallory Foundation is located in Luverne, IA. The organization was established in 1982. 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. Madden-Mallory Foundation 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 12/2023, Madden-Mallory Foundation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 55.8% each year . All expenses for the organization totaled $180.0k during the year ending 12/2023. While expenses have increased by 11.2% per year over the past 6 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 2017, Madden-Mallory Foundation has awarded 267 individual grants totaling $625,953. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP (SEE ATTACHED SCHEDULE FOR PART XV - LINE 3(A))
COMMUNITY BETTERMENT (SEE ATTACHED SCHEDULE FOR PART XV - LINE 3(A))
HANDICAP ASSISTANCE (SEE ATTACHED SCHEDULE FOR PART XV - LINE 3(A))
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A David Bibler Director | 1 | $200 | |
Dan Hilbert Director | 1 | $200 | |
David A Hanselman Director | 1 | $200 | |
Audrey H Weber Director | 1 | $200 | |
Dale Richardson Director | 1 | $0 | |
Lisa Hefty Foundation Mgr. | 10 | $4,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $29,611 |
| Dividends & Interest | $28,928 |
| Net Rental Income | -$3,709 |
| Net Gain on Sale of Assets | $1,570,272 |
| Capital Gain Net Income | $1,570,272 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,628,811 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,850 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $683 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $160 |
| Printing and publications | $142 |
| Other expenses | $6,351 |
| Total operating and administrative expenses | $14,179 |
| Contributions, gifts, grants paid | $165,864 |
| Total expenses and disbursements | $180,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,729 |
| Savings and temporary cash investments | $382,558 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| 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 | $0 |
| Total assets | $2,220,058 |
| 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, Madden-Mallory Foundation has awarded $165,864 in support to 52 organizations.
| Grant Recipient | Amount |
|---|---|
GRACE BRAUN NORTHWESTERN PURPOSE: SCHOLARSHIP | $4,000 |
TAYLOR KRIEPS UNI PURPOSE: SCHOLARSHIP | $2,000 |
ABIGAIL YOKIMISHYN U OF IOWA PURPOSE: SCHOLARSHIP | $4,000 |
ALYSSA YOKIMISHYN U OF IOWA PURPOSE: SCHOLARSHIP | $4,000 |
CAILEY CARROLL ISU PURPOSE: SCHOLARSHIP | $2,000 |
ALGONA COMMUNITY SCHOOL PURPOSE: GENERAL SUPPORT | $500 |