In technical terms, a community foundation is a “tax-exempt, non-profit, autonomous, publicly supported, philanthropic institution with a long-term goal of building permanent, component funds established by many separate donors for the broad-based charitable benefit of the residents of a defined geographic area.”
Quite a mouthful — we know.
At The Madison Foundation, our focus is, simply, Madison and its citizens.
Our objective is to serve as a permanent source of funding for Madison’s charitable efforts. We are building a growing number of named charitable funds created by generous individuals, families, companies, and foundations that share a commitment to Madison and the well-being of its residents. Our program also includes unrestricted funds that allow the Foundation board to move quickly to react to changing community needs, and provide resources for long-term commitments to particular issues.
We accept and administer a diverse assortment of gifts to meet the varied philanthropic objectives of donors. We serve as the steward of those funds, investing and prudently managing funds, and maintaining financial records.
We inform donors of named funds about community issues and grant-making opportunities, and actively involve them in identifying and responding to community issues and needs.
We are recognized by the IRS as tax-exempt under Internal Revenue Code 501(c)(3), organized and operated exclusively for charitable purposes.