DESTINATION MADISON FOUNDATION INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

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

DESTINATION MADISON FOUNDATION, INC. IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY TO FURTHER THE WELL-BEING OF THE GREATER MADISON CONVENTION & VISITORS BUREAU, INC.IN CONNECTION WITH AND IN FURTHERANCE THEREOF, THE CORPORATION SHALL HAVE THE FOLLOWING PURPOSES:-TO PROVIDE INFORMATION TO THE RESIDENTS OF AND VISITORS TO THE GREATER MADISON/DANE COUNTY AREA REGARDING THE DIVERSE CULTURAL, EDUCATIONAL, SCIENTIFIC, CIVIC AND ATHLETIC BENEFITS OF LIVING AND WORKING IN THE GREATER MADISON/DANE COUNTY AREA.-TO PROVIDE RESOURCE SUPPORT FOR EVENTS HOSTED BY THE CITY OF MADISON AND/OR THE GMCVB THAT PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT WITHIN THE GREATER MADISON/DANE COUNTY AREA.-TO CONDUCT RESEARCH AND DISSEMINATE DATA REGARDING ECONOMIC DEVELOPMENT WITHIN THE GREATER MADISON/DANE COUNTY AREA.-TO RECEIVE, OBTAIN, CONTROL, HOLD, ADMINISTER, INVEST AND REINVEST AND DISBURSE FUNDS AND PROPERTY OF ANY TYPE AS MAY BE RECEIVED BY THE CORPORATION, EITHER ABSOLUTELY OR IN TRUST,

Program Service Accomplishments

Program 1

Expenses: $180,108 Revenue: $0

PROVIDE RESOURCE SUPPORT FOR EVENTS HOSTED BY THE CITY OF MADISON AND/OR THE GREATER MADISON CONVENTION & VISITORS BUREAU, INC. THAT PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT WITHIN THE GREATER...

PROVIDE RESOURCE SUPPORT FOR EVENTS HOSTED BY THE CITY OF MADISON AND/OR THE GREATER MADISON CONVENTION & VISITORS BUREAU, INC. THAT PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT WITHIN THE GREATER MADISON/DANE COUNTY AREA.

Program 2

Expenses: $60,048 Revenue: $0

ADMINISTER YOUTH SPORT GRANT CONTRIBUTION RECEIPTS AND PROVIDE GRANTS TO AREA CHARITIES SUPPORTING YOUTH SPORTS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$349,023

Total Directors

Key Employees

Highest Compensated

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