MADISON DEVELOPMENT CORPORATION (EIN 391277471) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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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

TO COORDINATE THE ACTIVITIES OF THE PUBLIC AND PRIVATE SECTORS SO AS TO CONSTRUCTIVELY USE THE RESOURCES OF EACH TO ACHIEVE GREATER MADISON AND DANE COUNTY WIDE ECONOMIC GROWTH, TO PROVIDE HIGH-QUALITY AFFORDABLE WORKFORCE HOUSING AND ASSIST IN THE FINANCING OF BOTH.

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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%)

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

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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

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

MADISON DEVELOPMENT CORPORATION