DESTINATION MADISON FOUNDATION INC

EIN: 201127385 501(c)(3) Community Improvement

MADISON, WI

Total Revenue
$84,504
Total Expenses
$240,156
Total Assets
$232,310
Net Assets
$232,310
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
WI
Principal Officer
ELLIE WESTMAN CHIN
Phone
6082552537
Tax Period
2024-01-01 to 2024-12-31

DESTINATION MADISON FOUNDATION INC, founded in 2003, is a micro nonprofit in the Community Improvement sector that reported $85K in total revenue in fiscal year 2024. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $240K exceeded revenue, resulting in a 184% operating deficit.

Mission

PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT AND WELL-BEING OF DIVERSE POPULATIONS WITHIN THE GREATER MADISON/DANE COUNTY AREA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $68,144
Program Service Revenue $0
Investment Income $16,360
Other Revenue $0
TOTAL REVENUE $84,504

Expense Breakdown

Grants Paid $174,541
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $240,156
Other Expenses $65,615
TOTAL EXPENSES $240,156

Year-over-Year Comparison

2024 2023 Change
Revenue $84,504 $186,465 -0.5%
Expenses $240,156 $196,295 +0.2%
Net Income $-155,652 $-9,830 +14.8%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
20

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$349,023
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOEL WEITZ CHAIR/TRUSTEE 1.00
Officer Director
$0 $0 $0
JUDD SCHEMMEL CHAIR/VICE CHAIR 1.00
Officer Director
$0 $0 $0
SANDY MORALES VICE CHAIR/TRUSTEE 0.50
Officer Director
$0 $0 $0
JIM BRADLEY SECRETARY/TREASURER 0.50
Officer Director
$0 $0 $0
GAIL AMBROSIUS TRUSTEE THRU MARCH 2024 0.50
Director
$0 $0 $0
LAUREN BIRKEL TRUSTEE 0.50
Director
$0 $0 $0
ROB CRAIN TRUSTEE 0.50
Director
$0 $0 $0
LYNN HOBBIE TRUSTEE 0.50
Director
$0 $0 $0
JASON ILSTRUP TRUSTEE 0.50
Director
$0 $0 $0
LE JORDAN TRUSTEE 0.50
Director
$0 $0 $0
TOM ZIARNIK TRUSTEE 0.50
Director
$0 $0 $0
ELLIE WESTMAN CHIN PRESIDENT/CEO 1.00
Officer
$0 $31,757 $349,023
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $84,504 $240,156 $232,310 $-155,652
2023 $186,465 $196,295 $393,591 $-9,830
2022 $53,853 $147,737 $397,791 $-93,884
2021 $45,548 $111,784 $500,025 $-66,236
2020 $1,712 $71,607 $557,911 $-69,895
2018 $4,427 $36,837 $640,815 $-32,410
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