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March 24, 2008
The Madison Foundation is a non-profit community foundation serving all of the residents of Madison, who share a common concern - preserving and improving the quality of life in Madison.
Foundation News
Since the Madison Foundation was started in 1996, the gross assets have grown to over $400,000. These assets are held in forty eight individual donor advised, scholarship and unrestricted funds. During this period, nearly $500,000 in grants have been distributed to non-profit organizations serving the Madison community.
The board of directors are all residents of Madison and serve on a volunteer basis to handle the grant making decisions and other administrative functions of the foundation. The Foundation has a part-time administrator to manage its financial records, gift acknowledgements and other routine tasks.
Many of our towns-people have served as founders, directors, and donor members, and our success to date is a tribute to their foresight and commitment to creating an organization that will help improve the quality of life in Madison. There have been four presidents of the Foundation in ten years, whose leadership has enabled the Foundation to grow and prosper.
We would like the membership of the Foundation and the community at large to know that our latest Tax return (Form 990) and our latest fiscal year end statements are available for review at the Foundation's office. An appointment is necessary and can be arranged by emailing the foundation webmaster or telephoning one of the board of directors. The financial results of the Foundation are summarized in the Presidents Annual Letter that is sent out to our membership each year.
Grantmaking News
During the first seven months of this year we have received $44,000 in contributions to create or add to a number of donor-advised, scholarship and unrestricted funds.
Grants for seven months have reached $75,000, with approximately $20,000 of that for college scholarships for Hand High graduates. Other organizations receiving grants include the Madison Ambulance Assoc., the Shoreline Symphony Orchestra, Vista Vocational and Life Services, Odyssey of the Mind, the Shoreline Arts Alliance, Friends of Hammonasset, and the Children's Fair for Juvenile Diabetes Research, to name a fewAny non-profit organization is eligible for certain types of grants and we encourage everyone to review our grant guidelines on this website or speak with a board member of the Foundation to see if we might be of help to your organization.
