Madison Ice Inc

Analysis

Madison Ice Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in July 2004, 22 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2024, Madison Ice Inc reported income of $1.4m and spending of $1.4m, spending 103% of its income. Across the 6 years on record, from April 2019 to April 2024, income fell from $1.6m to $1.4m (-15%), an average of -3.2% a year. The sharpest change came in the year to April 2020, when income dropped by 18%. Over the whole period it spent 92% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Madison Ice Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within WI. Charities of a similar size with the same main cause include 18th Ward ($1.4m), City of Weirton Board of Park Commissioners ($1.4m) and Lower Dauphin Soccer Association ($1.4m).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 8.9% and program service revenue 89% of the total. Other salaries and wages came to $414k. At year end it held assets of $3.2m against liabilities of $1.8m, net assets of $1.3m. It reported 76 employees.