Civic Intelligence

Madison Area Technical College Foundation Inc.

990 • Fiscal year 2016 • EIN 23-7265867

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 27, 2017

3591 Anderson Street No 203AMadison, WI 53704

(608) 246-6441

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

36th percentile

0.12x

Higher debt load relative to assets than 36% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

68th percentile

0.53x

Higher debt load relative to revenue than 68% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

82nd percentile

22%

Higher net margin than 82% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

52nd percentile

$178,738

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

61st percentile

4.6%

Faster asset growth than 61% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

5th percentile

-54%

Faster revenue growth than 5% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$18,672,251

Up $821,852 (+4.6%) from 2015

Net Assets

Up

$16,499,615

Up $1,050,179 (+6.8%) from 2015

Liabilities

Down

$2,172,636

Down $228,327 (-9.5%) from 2015

Revenue

Down

$4,125,804

Down $4,885,908 (-54%) from 2015

Expenses

Up

$3,236,408

Up $534,957 (+20%) from 2015

Net Income

Down

$889,396

Down $5,420,865 (-86%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $7,521,138Liabilities 2010: $618,151Net Assets 2010: $6,902,9872010Assets 2011: $8,185,698Liabilities 2011: $134,265Net Assets 2011: $8,051,4332011Assets 2012: $8,125,009Liabilities 2012: $35,610Net Assets 2012: $8,089,3992012Assets 2013: $11,898,154Liabilities 2013: $3,171,982Net Assets 2013: $8,726,1722013Assets 2014: $12,732,705Liabilities 2014: $2,995,451Net Assets 2014: $9,737,2542014Assets 2015: $17,850,399Liabilities 2015: $2,400,963Net Assets 2015: $15,449,4362015Assets 2016: $18,672,251Liabilities 2016: $2,172,636Net Assets 2016: $16,499,6152016Assets 2017: $18,627,864Liabilities 2017: $2,556,714Net Assets 2017: $16,071,1502017Assets 2018: $16,769,672Liabilities 2018: $1,792,916Net Assets 2018: $14,976,7562018Assets 2019: $16,518,142Liabilities 2019: $1,380,087Net Assets 2019: $15,138,0552019Assets 2020: $18,086,376Liabilities 2020: $1,244,855Net Assets 2020: $16,841,5212020Assets 2021: $21,012,715Liabilities 2021: $295,306Net Assets 2021: $20,717,4092021Assets 2022: $19,547,707Liabilities 2022: $60,747Net Assets 2022: $19,486,9602022Assets 2023: $23,630,068Liabilities 2023: $1,305,901Net Assets 2023: $22,324,1672023Assets 2024: $26,412,340Liabilities 2024: $1,363,613Net Assets 2024: $25,048,7272024

Highlighted filing

2016

Assets$18,672,251
Liabilities$2,172,636
Net Assets$16,499,615

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $2,004,6742010Expenses 2011: $1,805,4832011Expenses 2012: $1,643,3722012Expenses 2013: $1,991,0742013Revenue 2014: $2,960,034Expenses 2014: $2,478,488Net Income 2014: $481,5462014Revenue 2015: $9,011,712Expenses 2015: $2,701,451Net Income 2015: $6,310,2612015Revenue 2016: $4,125,804Expenses 2016: $3,236,408Net Income 2016: $889,3962016Revenue 2017: $4,584,110Expenses 2017: $5,736,521Net Income 2017: -$1,152,4112017Revenue 2018: $10,970,351Expenses 2018: $12,285,666Net Income 2018: -$1,315,3152018Revenue 2019: $6,005,321Expenses 2019: $6,434,457Net Income 2019: -$429,1362019Revenue 2020: $4,862,377Expenses 2020: $2,591,913Net Income 2020: $2,270,4642020Revenue 2021: $5,486,614Expenses 2021: $4,102,475Net Income 2021: $1,384,1392021Revenue 2022: $4,171,287Expenses 2022: $2,699,863Net Income 2022: $1,471,4242022Revenue 2023: $5,512,141Expenses 2023: $3,265,175Net Income 2023: $2,246,9662023Revenue 2024: $5,014,229Expenses 2024: $3,722,572Net Income 2024: $1,291,6572024

Highlighted filing

2016

Revenue$4,125,804
Expenses$3,236,408
Net Income$889,396
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 27, 2017
Return Version
2015v3.0
Gross Receipts
$11,405,982
Mission and Program Overview

Mission

The mission of madison area technical college foundation is to enrich lives and strengthen our community through the acquisition of private funding in support of high quality open access education at madison college.

To support Madison Area Technical College.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,681,930$7,485,256▲ $803,326
Pledges and Grants Receivable$4,343,538$4,031,291▼ $312,247
Land, Buildings, and Equipment, Net$4,043,624$3,950,687▼ $92,937
Savings and Temporary Cash Investments$1,218,339$2,311,889▲ $1,093,550
Cash and Non-Interest-Bearing Accounts$530,491$635,956▲ $105,465
Investments Other Securities$920,037$157,601▼ $762,436
Prepaid Expenses and Deferred Charges$35,946$11,551▼ $24,395
Other Notes and Loans Receivable, Net$160$0▼ $160
Total Assets$17,850,399$18,672,251▲ $821,852
Other Assets Total$76,334$88,020▲ $11,686
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,251,942$2,043,856▼ $208,086
Accounts Payable and Accrued Expenses$149,021$128,780▼ $20,241
Total Liabilities$2,400,963$2,172,636▼ $228,327
Net Assets / Fund Balance
Temporarily Rstr Net Assets$10,438,371$9,325,989▼ $1,112,382
Permanently Rstr Net Assets$3,951,681$6,152,656▲ $2,200,975
Unrestricted Net Assets$1,059,384$1,020,970▼ $38,414
Total Net Assets Fund Balance$15,449,436$16,499,615▲ $1,050,179
Total Liabilities and Net Assets / Fund Balance$17,850,399$18,672,251▲ $821,852

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,960,802$334,611$3,295,413
Land$962,219-$962,219
Equipment$27,666$16,492$44,158

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$5,762,142$1,414,674▲ $30,456-$6,831,494
2014$5,569,666$279,957▲ $115,847-$5,762,142
2013$4,676,219$385,554▲ $737,004-$5,569,666
2012$4,502,909$127,688▲ $240,458-$4,676,219
2011$4,271,852$262,718▲ $129,003-$4,502,909
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tammy ThayerChief Executive OfficerFT$155,507$23,231$178,738
Robert DinndorfExecutive Director PhilanthropyFT$105,000$4,200$109,200

Board Members and Trustees

NameTitle
James RiordanPresident
Lawrence BartonVice President
Bill BeisensteinDirector
David Villadirector
Dianne RedstenDirector
Gordon DerzonDirector
Marshall Mennengadirector
Pam DruhanDirector
Robert TercekDirector
Mary StricklandDirector (Thru February)
Robin RobertsSecretary
Ashok BhargavaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,635,194
Program Service Revenue
$373,930
Investment Income
$-60,583
Other Revenue
$177,263
All Other Contributions
$3,635,194
Change in Net Assets
$889,396

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table11$70,420Cost of donated prop
Other Non Cash Contri Table1$27,040Cost of donated prop
Cars and Other Vehicles7$15,269Sale comparable Prop
Other Non Cash Contri Table9$3,328Cost of donated prop
Total Noncash Contributions28$116,057-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,125,804
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$93,039
Total Revenue per Audited Statements
$4,218,843
Total Revenue per Form 990
$4,125,804
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,255,762
Grants and Similar Amounts Paid$1,234,115
Salaries, Compensation, and Employee Benefits$746,531
Total Fundraising Expense$408,508
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,234,115--$1,234,115
Other Salaries and Wages-$186,927$156,759$343,686
Current Officers, Directors, Trustees, and Key Employees-$154,058$181,051$335,109
Interest-$100,172-$100,172
Depreciation Depletion-$92,450-$92,450
Fees for Services Other-$77,538-$77,538
Fees for Service Investment Mgmnt Fees-$69,744-$69,744
All Other Expenses-$27,329$39,803$67,132
Payroll Taxes-$28,852$24,196$53,048
Information Technology-$36,657-$36,657
Fees for Services Accounting-$24,417-$24,417
Office Expenses-$8,927-$8,927
Other Employee Benefits-$4,130$3,463$7,593
Insurance-$7,541-$7,541
Pension Plan Contributions-$3,859$3,236$7,095
Advertising-$4,993-$4,993
Fees for Services Legal-$3,998-$3,998
Conferences and Meetings-$2,944-$2,944
Other Expenses$300,174$600-$600
Total Functional Expenses$1,992,764$835,136$408,508$3,236,408

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,236,408
Total Expenses per Audited Statements$3,168,664
Expenses per Audited Statements$3,166,664
Expenses Not Reported on Financial Statements$69,744
Expenses Not Reported on Form 990$2,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11

The Audit committee reviews Form 990 prior to filing with the Internal Revenue SErvice.

Form 990, Part VI, Section B, line 12C

Madison Area Technical College Foundation board and staff members are obligated to act in the best interest of the organization. This obligation requires that employees and board members, in the performance of Foundation duties, seek only the furtherance of the mission of Madison Area Technical College Foundation, Inc. and its related Foundation. At all times, employees and board members are prohibited from using the organization's name or property, for private profit or benefit. Each board member shall sign the conflict of interest disclosure policy at the annual meeting each year. When a conflict of interest is relevant to a matter requiring action by the Madison College Foundation Board of Directors, the interested person(s) shall call it to the attention of the Board of Directors and said person(s) shall not vote on the matter. In addition, the person(s) shall not participate in the final deliberation or decision regarding the matter under consideration and shall retire from the room during the vote of the board of directors. When there is a doubt about whether a conflict exists, the matter shall be resolved by vote of the board of directors. The vote shall exclude the person(s) involved in the seeming conflict of interest. The official minutes of the board of directors shall reflect that the conflict of interest was disclosed and that the interested person(s) was (were) not present during the final discussion or vote and did not vote on the matter.

Form 990, Part VI, Section B, line 15

The Chief Executive Officer's salary is set by the Foundation Board of Directors. The Executive Committee reviews the compensation and makes a final recommendation to the Board of Directors.

Form 990, Part VI, Section C, line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Madison Area Technical College
EIN
23-7265867
Phone
6082466441
Address
3591 Anderson Street No 203A, Madison, WI 53704
Doing Business As
Madison College Foundation

Signing Officer

Name
Tammy Thayer
Title
Chief Executive Officer
Phone
6082466441
Signed
2017-02-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tammy Thayer
Formed
1973
Legal Domicile
Wi
Voting Board Members
11
Independent Board Members
11
Employees
10
Volunteers
25

Preparer

Firm
Wipfli LLP
Address
PO Box 8700, Madison, WI 53708-8700
Preparer
Amanda VanNatta
Phone
6082741980
Supplemental Narrative

Additional Explanations

Form 990, Part III, line 2

During fiscal year 2016 the organization embarked on a capital campaign, the activity of which is disclosed on Form 990, Part III, Line 4b.

Financial Statement Notes

Part V, Line 4:

All endowments are for the purpose of providing continual financial support to madison area technical college foundation, inc. To allow it to continue to enhance madison college's ability to provide an accessible, high quality education to students and help develop a highly skilled workforce for south central wisconsin.

Part X, Line 2:

The Foundation is required to assess whether it is more likely than not that a tax position will be sustained upon examination on the technical merits of the position assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The Foundation has determined there are no amounts to record as assets or liabilities related to uncertain tax positions.

Part XI, Line 2D - Other Adjustments:

Investment Manager Fees -69,744.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director (Thru February)
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7director
IRS990/Form990PartVIISectionAGrp/TitleTxt8President
IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt10Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt11Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt12Chief Executive Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt13Executive Director Philanthropy
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IRS990/MissionDesc0The Madison Area Technical College Foundation, Inc. solicits, manages, and distributes gifts from alumni, corporations, foundations, community organizations, and other friends of the College. These generous gifts enhance the college's ability to provide an accessible, high quality education to students and help develop a highly skilled workforce for South Central Wisconsin.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Campaign - Everywhere You Are Madison College Matters Campaign - THE HISTORIC $11 MILLION CAMPAIGN HAS FOUR IMPORTANT OBJECTIVES:A STATE OF-THE-ART FACILITY FOR CULINARY AND BAKING & DECORATIVE ARTS:Madison College will renovate, expand and equip new state-of-the-art spaces featuring lab and instructional areas that allow for increased numbers of students and the integration of modern tools, learning methods and simulations. EXPANDED STUDENT SCHOLARSHIPS AND SCHOLARSHIP ENDOWMENTS:This initiative will double Madison College's current scholarship offering, allowing the organization to support more qualified students in need. A permanent endowment will sustain annual scholarship support in perpetuity, vastly increasing the amount of scholarships the Foundation can offer annually. ENHANCED STUDENT SUCCESS PROGRAMS:Individual learners and groups receive tutoring and supplemental instruction in all areas, which build supportive and collaborative learning environments. These programs assist students with academic and career planning, finding employment and overcoming academic challenges, as well as supporting the special needs of veterans and other students. A NEW ATHLETIC FIELD AND SPORTS COMPLEX:Renovate the college's existing softball diamond and soccer fields to create the Irwin A. & Robert D. Goodman Sports Complex. It will become the home field for the College men's and women's soccer and softball teams, and a destination for community sporting activities, with a special emphasis on serving our youth throughout our community and beyond.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0General program activities - Madison Area Technical College Foundation, Inc. provides a mark of distinction by acquiring supplies, equipment, facility enhancements and other funding for college priorities that are not available through the college budget.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0Grants - Madison Area Technical College Foundation, Inc. provides small amounts of financial assistance to retain students who are enrolled but encounter financial emergencies for which the students do not have other resources.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$26.4$1.36$25.0$5.01$3.72$1.29
2023Detailed filing. Detailed filing data is available for this year.$23.6$1.31$22.3$5.51$3.27$2.25
2022Detailed filing. Detailed filing data is available for this year.$19.5$0.06$19.5$4.17$2.70$1.47
2021Detailed filing. Detailed filing data is available for this year.$21.0$0.30$20.7$5.49$4.10$1.38
2020Detailed filing. Detailed filing data is available for this year.$18.1$1.24$16.8$4.86$2.59$2.27
2019Detailed filing. Detailed filing data is available for this year.$16.5$1.38$15.1$6.01$6.43$0.43
2018Detailed filing. Detailed filing data is available for this year.$16.8$1.79$15.0$11.0$12.3$1.32
2017Detailed filing. Detailed filing data is available for this year.$18.6$2.56$16.1$4.58$5.74$1.15
2016Detailed filing. Detailed filing data is available for this year.$18.7$2.17$16.5$4.13$3.24$0.89
2015Detailed filing. Detailed filing data is available for this year.$17.9$2.40$15.4$9.01$2.70$6.31
2014Detailed filing. Detailed filing data is available for this year.$12.7$3.00$9.74$2.96$2.48$0.48
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$3.17$8.73$1.99
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.13$0.04$8.09$1.64
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.19$0.13$8.05$1.81
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.52$0.62$6.90$2.00
Peer Organizations

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