MADISON DEVELOPMENT CORPORATION

🔒

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

1977

Legal Domicile

Principal Officer

LORRINE HEINEMANN

Phone

6082562799

Tax Period

2024-01-01 to 2024-12-31

MADISON DEVELOPMENT CORPORATION, founded in 1977, is a community nonprofit in the Community Improvement sector that reported $6.4M in total revenue in fiscal year 2024. Expenses of $5.7M left a modest 10% surplus.

Mission

MADISON DEVELOPMENT CORPORATION (MDC)'S MISSION IS TO HELP CREATE JOBS BY PROVIDING GAP FINANCING TO SMALL BUSINESSES AND TO DEVELOP AND FINANCE QUALITY, AFFORDABLE WORKFORCE HOUSING UNITS IN MADISON AND THE DANE COUNTY AREA.

Program Service Accomplishments

Program 1

Expenses: $4,658,635 Revenue: $5,409,066

HOUSING: OF THE 429 UNITS OFFERED BY MDC, 191 WERE OCCUPIED BY HOUSEHOLDS AT OR BELOW THE HUD VERY LOW INCOME LIMIT (WITH INCOMES AT OR BELOW 50% OF THE COUNTY MEDIAN INCOME). INCLUDING THESE UNITS, A TOTAL OF 294 UNITS WERE OCCUPIED BY HOUSEHOLDS AT OR BELOW 120% OF THE HUD VERY-LOW INCOME LIMIT (WITH INCOMES AT OR BELOW 60% OF THE COUNTY MEDIAN INCOME).

Program 2

Expenses: $654,236 Revenue: $768,319

ECONOMIC DEVELOPMENT: IN 2024, MDC APPROVED AND CLOSED 6 NEW TECHNOLOGY-BASED LOANS THROUGH ITS VENTURE DEBT LOAN FUND, 5 LOANS THROUGH ITS BUSINESS LOAN PROGRAM AND 5 THROUGH ITS SMALL CAP TIF LOAN PROGRAM. THESE LOANS WILL BE USED TO LEVERAGE EQUITY CAPITAL THAT THESE SMALL BUSINESSES HAVE RAISED AND WILL ALLOW THE COMPANIES TO REACH ADDITIONAL MILESTONES IN THEIR DEVELOPMENT. THESE BUSINESSES ARE PROJECTED TO CREATE 21 NEW JOBS OVER THE NEXT 2 YEARS.

🔒

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 $16,215

Program Service Revenue $6,177,385

Investment Income $194,704

Other Revenue $0

TOTAL REVENUE $6,388,304

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,276,942

Fundraising Expenses $0

Program Expenses $5,312,871

Other Expenses $4,467,754

TOTAL EXPENSES $5,744,696

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,388,304	$6,436,775	0.0%
Expenses	$5,744,696	$5,094,577	+0.1%
Net Income	$643,608	$1,342,198	-0.5%

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

$525,151

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE KOLLATH	CHAIRPERSON & TREASURER (BEG JULY)	1.00	Officer Director	$0	$0	$0
MARY STRICKLAND	VICE-CHAIRPERSON	1.00	Officer Director	$0	$0	$0
RON TRACHTENBERG	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN GRANSEE	TREASURER (THRU JUNE)	1.00	Officer Director	$0	$0	$0
SCOTT RESNICK	DIRECTOR	1.00	Director	$0	$0	$0
JULIA STONE	DIRECTOR (THRU JUNE)	1.00	Director	$0	$0	$0
RICH ARNESEN	DIRECTOR	1.00	Director	$0	$0	$0
STUART LEVITAN	DIRECTOR	1.00	Director	$0	$0	$0
ROB BERGENTHAL	DIRECTOR	1.00	Director	$0	$0	$0
PAUL AYLESWORTH	DIRECTOR	1.00	Director	$0	$0	$0
ED LEE	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA PROCHESKA	DIRECTOR	1.00	Director	$0	$0	$0
LORRINE HEINEMANN	PRESIDENT - CEO	40.00	Officer	$193,625	$44,196	$237,821
ABIGAIL WALLHAUS	VP OF FINANCE & CFO	40.00	Officer	$146,238	$17,728	$163,966
CASHTON LAUFENBERG	VP OF HOUSING	40.00	Officer	$106,397	$16,967	$123,364

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
2025	No data	No data	No data	No data
2024	$6,388,304	$5,744,696	$56,169,986	$643,608
2023	$6,436,775	$5,094,577	$53,059,209	$1,342,198
2022	$4,946,557	$4,624,451	$33,284,348	$322,106
2021	$5,181,232	$4,617,963	$34,294,523	$563,269
2020	$4,338,400	$3,977,113	$36,487,059	$361,287
2019	$4,227,572	$3,884,170	$36,888,478	$343,402
2018	$3,662,868	$3,377,103	$28,473,537	$285,765