Destination Madison Foundation Inc

Analysis

Destination Madison Foundation Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in January 2005, 21 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Destination Madison Foundation Inc reported income of $186k and spending of $196k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $43k to $186k (+338%), an average of +45% a year. The sharpest change came in the year to December 2021, when income rose by 2561%. Over the whole period it spent 176% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Destination Madison Foundation Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 52nd percentile within WI. Charities of a similar size with the same main cause include Black Excellence ($186k), Brotherly Love Inc ($186k) and Downtown Kingsport Association Inc ($186k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 236% of the total. At year end it held assets of $394k against liabilities of $5,628, net assets of $388k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.