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Madsonian Corporation

Tax-deductible

Warren, VT501(c)(3)Arts & Culture EIN 27-2538667Revenue $182K in FY2024Latest return filed Nov 17, 2025

On file with the IRSmadsonian.org2 Brook Road, 05674-0000 · Warren, VTTax-exempt since Mar 2011Publicly supported — 509(a)(2)

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The essential and main thrust of the entire museum idea is to activate a commitment on the part of the buying public to demand permanence and long lasting products from the world producers. Our mission is to recognize and celebrate beautiful and carefully crafted designs. These are the ones that people save, cherish and use. The exhibits will show only products that have been produced in multiples including some prototypes prior to productions. Each piece has to pass five bars to qualify for exhibit. IT has to be manufactured, IT has to last, IT has to be affordable, IT has work and perform some task brilliantly, and finally and most importantly IT has to be beautiful and beautifully made. The Madsonian museum will impact and connect with the visiting public through exhibits, demonstrations, innovations and education. The Madsonian will demonstrate new visions and designs of products that will last, be affordable and beautiful. That will include the invention and creation of a range of

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$36K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $5K a year · 8% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$36K
to officers and key staff · 20% of spending
Top officer’s pay lower than 69% of similar orgs
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 4 voting members
Worth a look: 1 of 4 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$182K
Spent
$179K
To programs
85%
Net assets
$1.9M
By yearFY2020–FY2024
Revenue
$182K
FY2024
Tap a bar for its year
Revenue by fiscal year
FY2020$0
FY2021$0
FY2022Not on file
FY2024$182K
Expenses
$179K
FY2024▲ ×21
Tap a bar for its year
Expenses by fiscal year
FY2020$9K
FY2021$9K
FY2022Not on file
FY2024$179K
Net assets
$1.9M
FY2024▼ -35%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.0M
FY2021$3.0M
FY2022$3.0M
FY2024$1.9M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2011.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $151K Management & general 15% · $27K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990; $36K paid to officers and key staff.

Part VII, Section A · reportable compensation
David Sellers
President/Ch
$35,912Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

David Sellers’s $36K as President/Ch is at the 31st percentile of top reported officer pay among 2215 $100K–1M arts & culture 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.

See Madsonian Corporation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Celebrates and exhibits durable, affordable, functional, and beautiful products designed for lasting use.

Questions for Madsonian Corporation

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1 program · $151K · in their own filed words · FY2024
01

Education

$151Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2022
Donor Advised Charitable Giving INCFY2022$20K
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$182K
Ln 12
Gifts and grantsLn 1h$117K
Fees for servicesLn 2g$65K
Money outPt IX
$179K
Ln 25
Programscol B$151K
Managementcol C$27K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$64K
Total assetsLn 16$1.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$117K
Government grantsLn 1e$9K
Fees for servicesLn 2g$65K
Total revenueLn 12$182K
Assets in detailPt X, end of year
CashLn 1$64K
Cash and savings togetherLn 1–2$64K
Land, buildings, equipmentLn 10c$1.9M
Total assetsLn 16$1.9M
LiabilitiesLn 26$0
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$15K$64K
Land, buildings, equipmentLn 10c$1.9M$1.9M
Total assetsLn 16$1.9M$1.9M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.9M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$36K$18K$18K
Legal feesLn 11b$6K$6K
Office expensesLn 13$389$389
OccupancyLn 16$59K$59K
Depreciation, depletion and amortizationLn 22$46K$46K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$28K$28K
All other expensesLn 24e$107$16$91
Total functional expensesLn 25$179K$151K$27K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 17, 2025 $182K$179K$3K$1.9M 990 PDF
FY2023 Not on file
FY2022Filed with the IRS Nov 15, 2023 $3.0M 990 PDF
FY2021Filed with the IRS Nov 15, 2022 $0$9K−$9K$3.0M 990 PDF
FY2020Filed with the IRS Nov 15, 2021 $0$9K−$9K$3.0M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $181,878 revenue, 12 lines filed
I-8 Contributions and grants$116,747
I-9 Program service revenue$65,131
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$181,878
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$35,912
I-16a Professional fundraising fees$0
I-17 Other expenses$142,813
I-18 Total expenses$178,725
I-19 Revenue less expenses$3,153
Part VI · Governance 1 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members1
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $181,878 across 5 lines filed
VIII-1e Government grants$9,420
VIII-1f All other contributions, gifts and grants$107,327
VIII-1h Total contributions, gifts and grants$116,747
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $65,131$65,131
VIII-12 Total revenueExcluded from tax $65,131$181,878
Part IX · Statement of functional expenses $178,725 across 8 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $17,956 · Management $17,956$35,912
IX-11b Legal feesManagement $5,881$5,881
IX-13 Office expensesManagement $389$389
IX-16 OccupancyPrograms $59,249$59,249
IX-22 Depreciation, depletion and amortizationPrograms $46,389$46,389
IX-23 InsuranceManagement $2,949$2,949
IX-24 Other expenses (24a–d)Programs $27,849$27,849
IX-24e All other expensesPrograms $16 · Management $91$107
IX-25 Total functional expensesPrograms $151,459 · Management $27,266 · Fundraising $0$178,725
Part X · Balance sheet $1,935,178 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $14,774$64,315
X-10c Land, buildings and equipment, netStart of year $1,917,251$1,870,863
X-16 Total assetsStart of year $1,932,025$1,935,178
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,932,025$1,935,178
X-32 Total net assets or fund balancesStart of year $1,932,025$1,935,178
X-33 Total liabilities and net assetsStart of year $1,932,025$1,935,178
Part XI · Reconciliation of net assets $1,935,178 net assets at year end
XI-1 Total revenue$181,878
XI-2 Total expenses$178,725
XI-3 Revenue less expenses$3,153
XI-4 Net assets at start of year$1,932,025
XI-10 Net assets at end of year$1,935,178

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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