Meriter Foundation INC EIN 23-7098688 Form 990 (PDF) Claim this org

Meriter Foundation INC

Not yet claimed Claim this org →

Raises, invests, and grants philanthropic funds to support Meriter Hospital and advance healthcare services for the community of Dane County. For fiscal year 2024 it reported $6.6M in revenue, $2.1M in expenses, and $27.1M in net assets.Pt I

Founded
1970
Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Madison, WI
Website
www.unitypoint.org/madison
Filings
5 on file (2020–2024)
Revenue
$6.6MFY2024
Expenses
$2.1M
Net assets
$27.1M
People
26
Filings
5
Updates
0
More identity details & actions ⌄
EIN  23-7098688 Public foundation / grantmaker Madison, WI Founded 1970
Form 990 (PDF)
Compare with another nonprofit →
Figures match the IRS filing checked 8/18/26 · see original: IRS
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Meriter Foundation INC claims this page.

Know this organization? Claim it to add your story

Size
$1–10M
What they do
Raises, invests, and grants philanthropic funds to support Meriter Hospital and advance healthcare services for the community of Dane County.
Leadership
Rebecca Madson · President, Foundation · $251K
Money in and out
$6.6M revenue, $2.1M expenses
Bottom line
20% program efficiency
Grants paid & assets · FY2024
Total revenue
$6.6M
Pt VIII · Ln 12
Total expenses
$2.1M
Pt IX · Ln 25
Net assets
$27.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4.4M
Where spending went · Part IX cols B–D
Program services $0.20 Management & general $0.36 Fundraising $0.44
Program efficiency
20%
of spending reaches programs▼ -61% vs prior filing year
Operating runway
150.4mo
months of highly liquid reserves at operating expense rate▲ +66% vs prior filing year
Surplus margin
+67%
revenue over expenses, this year▲ +789% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$6.6M
FY2024▲ +89%
Expenses
$2.1M
FY2024▼ -33%
Total assets
$29.5M
FY2024▲ +19%
Total liabilities
$2.4M
FY2024▲ +38%
Total revenue
$6.6M
Pt VIII · Ln 12
Total expenses
$2.1M
Pt IX · Ln 25
Net assets
$27.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$4.4M
Total assetsPt X · Ln 16$29.5M
Program-expense ratioPt IX · col B20%
Voting members of governing bodyPt I · Ln 322
Independent voting membersPt I · Ln 417

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMeriter Foundation INC
EINHdr · item D23-7098688
Principal addressHdr · item CMadison, WI
WebsiteHdr · item Jwww.unitypoint.org/madison
Year of formationHdr · item L1970
State of legal domicileHdr · item MWI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T30)
Ruling yearIRS BMFMar 1971

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a22
Independent voting membersPt VI · Ln 1b17
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President, Foundation
$250,849Pt VII · Sec A
SR Director Development
$126,827Pt VII · Sec A
Dir Philanthropy - Grants & Programs
$102,613Pt VII · Sec A
$0Pt VII · Sec A
Board Member & Market Cno
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Rebecca Madson’s $251K as President, Foundation is at the 90th percentile of top reported officer pay among 1688 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Rebecca Madson$250,849$244,955
Rebecca Dopart$234,045$228,832$191,864
Brianna Yanke$126,827$116,666$110,603$108,003
Lisa Urban$102,613

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Meriter Foundation INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Mission & Programs · Part III

Where the work happens

1 program service account for $430K of program spending, described in the organization's own filed words · FY2024.
01

Meriter foundation, inc. Is a not-for-profit 501 (c)(3) charitable organization that raises, invests, grants and stewards gifts on behalf of meriter hospital, inc. Thousands of individuals and organizations have offered charitable giving support that has helped advance meriter's commitment to the healthcare needs of our community.

$430Kprogram expense

Run this program? Claim this org to tell your story

Statement of Revenue

Part VIII
Contributions & grants$3.6M · 55%
Investment income$2.1M · 32%
Program service revenue$873K · 13%
Contributions & grants55%$3.6M
Investment income32%$2.1M
Program service revenue13%$873K
— government grantsLn 1e$855K
Total revenueLn 12$6.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.20 Management & general $0.36 Fundraising $0.44
Program services20%$430K
Management & general36%$764K
Fundraising44%$945K
Total functional expensesLn 25$2.1M

Balance Sheet

Part X · end of year
CashLn 1$805K
Total assetsLn 16$29.5M
Total liabilitiesLn 26$2.4M
Total net assetsLn 32$27.1M
Months of cash on handcomputed4.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $26.8M · Operating expenses/yr $2.1M
150.4 months
Where the money goes
Program services
Program services $430K · Total expenses $2.1M
20%
Management & General
Management & general $764K · Total expenses $2.1M
36%
Fundraising
Fundraising $945K · Total expenses $2.1M
44%
Cost to raise $1
Fundraising expense (3-yr avg) $837K · Solicited contributions (3-yr avg) $2.5M
$0.34 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $3.6M · Total revenue $6.6M
55%
Government reliance
Government grants $855K · Total revenue $6.6M
13%
Earned-income share
Program service revenue $873K · Total revenue $6.6M
13%
Investment reliance
Investment income $2.1M · Total revenue $6.6M
+32%
Program self-sufficiency
Program service revenue $873K · Total expenses $2.1M
41%
Growth & trend
Revenue growth (YoY)
This year $6.6M · Prior year $3.5M
+89%
Revenue CAGR
FY2020 $3.4M · FY2024 $6.6M
+18%
Net-asset trend (YoY)
End of year $27.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $6.6M · Expenses $2.1M
+67%
Liabilities-to-Assets
Total liabilities — · Total assets $29.5M
Net-asset ratio
Net assets $27.1M · Total assets $29.5M
92%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $26.0M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $29.5M
88%
People & payroll
Highest Reported Total Compensation
Individual Rebecca Madson · Reported title PRESIDENT, FOUNDATION · Highest reported compensation $251K · Total expenses $2.1M
12%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.0M · Total expenses $2.1M
47%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 20%
Overhead ratio 36%
Fundraising cost ratio 26%
Revenue growth 89%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 10 funders →
Grants paid · 10 grants · $3.5M · 2020–2024
Meriter Hospital INCWI · FY2024$330,176
Meriter Hospital INCWI · FY2023$1,391,718
Unitemized GrantFY2023$10,000
Meriter Hospital INCWI · FY2022$672,440
Unitemized GrantFY2022$7,000
Meriter Hospital INCWI · FY2021$435,475
Unitemized GrantFY2021$51,882
Meriter Hospital INCWI · FY2020$410,153
Unitemized GrantFY2020$149,640
Meriter Health Services INCWI · FY2020$14,363

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$6.6M revenue · viewing · ⤓ 990 PDF
FY2023$3.5M revenue · ⤓ 990 PDF
FY2022$5.7M revenue · ⤓ 990 PDF
FY2021$4.8M revenue · ⤓ 990 PDF
FY2020$3.4M revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.