Mad Foundation Inc
- Assets
- $978.5k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 10/2016
- Data as of
- 12/2022
- EIN
- 47-4561918
Organization Overview
Mad Foundation Inc is located in Brooklyn, NY. The organization was established in 2016. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mad 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, Mad Foundation Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $789.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BRING TOGETHER A GLOBAL COOKING COMMUNITY WITH A SOCIAL CONSCIENCE, SENSE OF CURIOSITY, AND AN APPETITE FOR CHANGE. MAD EMPOWERS CHEFS AND FOOD SYSTEM LEADERS TO ADDRESS THE WORLD'S MOST PRESSING ISSUES FROM CLIMATE CHANGE, ENVIRONMENT, AND HEALTH THROUGH A DYNAMIC NETWORK, EVENTS, AND PUBLICATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MAD FOUNDATION, INC. SUPPORTS KOMITEEN FOR MAD SYMPOSIUM ("MAD"), A CHARITABLE ORGANIZATION IN DENMARK, THROUGH VARIOUS GRANTS. THE GRANTS PROVIDED MAD TO OPERATE AND DRIVE CHANGE IN FOOD SYSTEMS, TO CONTRIBUTE TO THE HEALTH OF THE PLANET, AND TO THE LIVES OF THOSE WORKING IN FOOD. MAD HAS CREATED AN ACADEMY TO TEACH ABOUT SUSTAINABILITY, LEADERSHIP AND BUSINESS PRACTICES FOR LEADERS IN HOSPITALITY.
THE MAD FOUNDATION, INC. SUPPORTS KOMITEEN FOR MAD SYMPOSIUM ("MAD"), A CHARITABLE ORGANIZATION IN DENMARK, THROUGH VARIOUS GRANTS. THE GRANTS PROVIDED MAD TO OPERATE AND DRIVE CHANGE IN FOOD SYSTEMS, TO CONTRIBUTE TO THE HEALTH OF THE PLANET, AND TO THE LIVES OF THOSE WORKING IN FOOD. MAD HAS CREATED AN ACADEMY TO TEACH ABOUT SUSTAINABILITY, LEADERSHIP AND BUSINESS PRACTICES FOR LEADERS IN HOSPITALITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Helman Board Chair | OfficerTrustee | 1 | $0 |
Peter Kreiner Secretary & Treasurer | OfficerTrustee | 1 | $0 |
Melina Shannon-Dipietro Assistant Treasurer | OfficerTrustee | 5 | $0 |
David Barber Director | Trustee | 1 | $0 |
Wade Davis Director | Trustee | 1 | $0 |
Kelli Hayes Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,030,932 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,030,932 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,030,932 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $573,654 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $970 |
| Fees for services: Accounting | $12,019 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $117,308 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,309 |
| All other expenses | $0 |
| Total functional expenses | $789,133 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $692,883 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $244,835 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $40,779 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $978,497 |
| Accounts payable and accrued expenses | $4,520 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,520 |
| Net assets without donor restrictions | $552,792 |
| Net assets with donor restrictions | $421,185 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $978,497 |