The Medical College of Wisconsin Inc
92% goes to programs $3 to raise $100 Strong reserves Growing revenue
The Medical College of Wisconsin Inc is a 501(c)(3) organization based in Milwaukee, Wisconsin, registered in 1968, with $1,607,441,142 in FY2023 revenue. CharityIndex grades it A+, and it directs about 92% of spending to programs.
8701 Watertown Plank Rd, Milwaukee, WI, 53226 EIN 39-0806261 Since 1968
Revenue (FY2023)
$1.6B
▲ 8.2% vs prior year
Education median: $200K
Expenses (FY2023)
$1.6B
Net assets
$2.5B
Employees
8,103
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating92% to programs · $3 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For The Medical College of Wisconsin Inc: 92% to programs · $3 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating19 mo reserves · +1% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For The Medical College of Wisconsin Inc: 19 mo reserves · +1% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For The Medical College of Wisconsin Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For The Medical College of Wisconsin Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
The medical college of wisconsin (mcw) is a distinguished leader and innovator in the education and development of the next generation of physicians, (continued in schedule o)
What they do
Research - mcw is a major national research center and the second largest research institution in wisconsin. in fiscal year 2024, mcw invested $424.3 million in research, teaching, training and related purposes which will lead to improved patient care and health outcomes. this total includes $128.7 million from the national institutes of health (nih). mcw ranks in the top third of u.s. medical schools in nih research support. (continued in schedule o)
Patient care - approximately 1,815 mcw physicians and 1,860 nurse practitioners, physician assistants, and other health care practitioners provide adult patient care as the medical college physicians and pediatric patient care through children's specialty group, a joint venture with children's hospital and health system. the mcw physician practice includes doctors in every specialty and subspecialty of medicine. (continued in schedule o)
Contact & location
- Address
- 8701 Watertown Plank Rd, Milwaukee, WI, 53226
- City
- Milwaukee
- State
- Wisconsin
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $990.9M (FY2013) to $1.6B (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $817.8MNet assets $2.5B
Operating margin
1.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$3.3B
Total liabilities
$817.8M
Net assets
$2.5B
Salaries & benefits
$1.2B
77% of expenses
Board members
28
23 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $1,607,441,142▲8.2% | $1,584,630,058▲8.5% | $2,456,863,549▲11.4% | $3,274,618,395▲7.4% | 990 |
| 2022 | $1,485,866,745▼7.9% | $1,459,941,335▲6.2% | $2,205,784,204▲9.7% | $3,048,459,625▲5.3% | 990 |
| 2021 | $1,613,951,767▲18.4% | $1,375,096,323▲6.8% | $2,011,631,913▼14.1% | $2,894,883,838▼7.6% | 990 |
| 2020 | $1,363,134,190▲6.0% | $1,287,814,092▲5.7% | $2,341,803,071▲29.7% | $3,131,610,164▲23.2% | 990 |
| 2019 | $1,286,151,484▲2.2% | $1,217,951,862▲3.2% | $1,804,859,631▼0.9% | $2,541,731,692▲3.5% | 990 |
| 2018 | $1,258,883,721▲3.5% | $1,179,626,265▲5.7% | $1,821,686,451▲3.1% | $2,456,134,363▲5.7% | 990 |
| 2017 | $1,216,120,532▲6.2% | $1,116,060,114▲5.2% | $1,767,691,614▲6.6% | $2,324,075,644▲4.2% | 990 |
| 2016 | $1,144,930,712▲8.8% | $1,061,080,967▲6.8% | $1,658,238,226▲15.2% | $2,231,331,527▲12.4% | 990 |
| 2015 | $1,052,471,372▲1.6% | $993,553,543▲7.0% | $1,438,920,196▼2.1% | $1,984,855,763▲4.6% | 990 |
| 2014 | $1,036,038,159▲4.6% | $928,128,669▲1.4% | $1,469,345,530▲4.9% | $1,898,080,641▲3.8% | 990 |
| 2013 | $990,874,258 | $915,251,004▲1.4% | $1,401,080,335▲15.7% | $1,828,250,839▲14.0% | 990 |
| 2012 | — | $902,540,629▲0.1% | $1,210,461,210▲11.4% | $1,603,116,222▲10.8% | 990 |
| 2011 | — | $901,934,512▲3.3% | $1,086,942,866▲0.8% | $1,447,446,882▲0.5% | 990 |
| 2010 | — | $872,807,244▲6.7% | $1,078,177,170▲18.2% | $1,439,703,234▲15.5% | 990 |
| 2009 | — | $818,319,669 | $912,517,688 | $1,247,019,757 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Max C Lee Md — $2,418,193 (0.15% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Max C Lee Md | Asst Prof-neurosurgery | 40 | $2,418,193 |
| Michael Edward Mitchell Md | Chief, Prof-ped Cardiac Surg | 3 | $1,945,478 |
| Saman Shabani Md | Asst Prof-neurosurgery | 40 | $1,543,068 |
| Abdel Alqwasmi Md | Physician-hematology/oncology | 40 | $1,523,256 |
| John R Raymond Sr Md | Trustee/president and Ceo | 40 | $1,428,199 |
| Joseph E Kerschner Md | Trustee/provost& Exec Vp, Dean | 39.5 | $1,398,843 |
| Shekar N Kurpad Md | Chair, Prof-neurosurgery | 40 | $1,397,196 |
| David King Md | Trustee As of 1/26/24 | 40 | $1,065,863 |
| Matthew Lester | Exec Vp-finance & Admin, Coo | 40 | $737,166 |
| Roy L Silverstein Md | Chair, Prof-medicine | 40 | $731,319 |
| Cynthia A Lien Md | Trustee | 40 | $675,957 |
| Gregory M Wesley Jd | Sr Vp-strat Alliances/bus Dev | 40 | $615,914 |
| Cheryl A Maurana Phd | Sr Vp-strat Academ Partnership | 40 | $604,351 |
| David A Margolis Md | Interim Chair, Prof-pediatrics | 22 | $538,568 |
| Mara Lord Phd | Sr Vp-univ Engmt/strat Plan | 40 | $504,328 |
| Shelisa Dalton | Chief Financial Officer | 40 | $500,417 |
| Mitchell Beckman | Former Vp-development, Cdo | 0 | $477,389 |
| Adrienne Mitchell | Sr Vp-hr, Chief People Officer | 40 | $458,417 |
| David Hotchkiss | Vp-information Services, Cio | 40 | $411,313 |
| Pamela J Stanick | Vp-finance & Treasury | 40 | $376,705 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| M A Mortenson Co | Construction Service | $24,241,811 |
| Froedtert Health Medical Group | Physician/shared Svc | $17,304,856 |
| National Marrow Donor Program | Research Subcontract | $14,365,549 |
| Froedtert Thedacare Health Inc | Contractual Services | $11,121,668 |
| Medical College of Wi Affil Hosp | Resident Services | $10,965,299 |
Grants received · $95.5M total
507 grants to The Medical College of Wisconsin Inc totaling $95.5M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Greater Milwaukee Foundation Inc | Impacting pc knowledge and screening in black men | 2024 | $1,525,016 |
| American Cancer Society Inc | Support/research | 2024 | $800,750 |
| American Heart Association Inc | Research | 2024 | $565,140 |
| Cystic Fibrosis Foundation | Cf care center | 2024 | $407,218 |
| Blood Cancer United Inc | Research grant | 2024 | $375,000 |
| Breakthrough T1d | T1d research | 2024 | $338,260 |
| American Endowment Foundation | Educational | 2024 | $248,000 |
| Cystic Fibrosis Foundation | Training | 2024 | $202,791 |
| American Lung Association | Research | 2024 | $200,000 |
| Crohns & Colitis Foundation Inc | Research | 2024 | $156,454 |
| Crohns & Colitis Foundation Inc | Research | 2024 | $156,454 |
| Cystic Fibrosis Foundation | Clinical research center | 2024 | $140,474 |
| American Diabetes Association Inc | Junior faculty development health disparities | 2024 | $137,998 |
| Public Health Institute | Research | 2024 | $120,819 |
| Foundation Fighting Blindness Inc | Research | 2024 | $100,000 |
Grants made · $46.4M in FY2023
205 grants totaling $46.4M in FY2023 — showing the 15 largest. All grants made by The Medical College of Wisconsin Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| National Marrow Donor Program | Research subaward | $12,524,173 |
| Emmes Corporation | Research subaward | $3,365,459 |
| Versiti Blood Health Inc | Res sub/ahw | $1,914,403 |
| University of Wisconsin Madison | Res sub/ahw/educ | $1,905,870 |
| Childrens Hospital Corporation | Research subaward | $1,760,696 |
| The Board of Trustees of the University of Illinois | Research subaward | $810,055 |
| Marquette University | Res/comm eng/ahw | $754,334 |
| Rector & Visitors of the University of Virginia | Res sub/med educ | $631,616 |
| Trustees of Dartmouth College | Res sub/med educ | $596,121 |
| Regents of the University of California At San Diego | Research subaward | $540,145 |
| Washington University | Research subaward | $536,219 |
| University of California San Francisco | Res sub/med educ | $525,665 |
| Sanford Burnham Prebys Medical Discovery Institute | Research subaward | $521,476 |
| University of California Davis | Research subaward | $512,263 |
| Michigan State University | Research subaward | $480,499 |
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Frequently asked questions
- Is The Medical College of Wisconsin Inc a legitimate nonprofit?
- Yes. The Medical College of Wisconsin Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 39-0806261, based in Milwaukee, Wisconsin. Donations are tax-deductible.
- What is The Medical College of Wisconsin Inc's EIN?
- The Medical College of Wisconsin Inc's Employer Identification Number (EIN) is 39-0806261.
- How much revenue does The Medical College of Wisconsin Inc report?
- The Medical College of Wisconsin Inc reported $1,607,441,142 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of The Medical College of Wisconsin Inc's spending goes to programs?
- The Medical College of Wisconsin Inc spends about 92% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does The Medical College of Wisconsin Inc have?
- CharityIndex grades The Medical College of Wisconsin Inc A+, based on program efficiency and fundraising cost.
- How much does The Medical College of Wisconsin Inc's highest-paid employee make?
- The highest reported compensation on The Medical College of Wisconsin Inc's latest Form 990 is $2,418,193, paid to Max C Lee Md (Asst Prof-neurosurgery).
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Explore more
Data for The Medical College of Wisconsin Inc (EIN 39-0806261) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.