Mission
MADISON DEVELOPMENT CORPORATION (MDC)'S MISSION IS TO HELP CREATE JOBS BY PROVIDING GAP FINANCING TO SMALL BUSINESSES AND TO DEVELOP AND FINANCE QUALITY, AFFORDABLE WORKFORCE HOUSING UNITS IN MADISON AND THE DANE COUNTY AREA.
Public Charity
MADISON DEVELOPMENT CORPORATION
MADISON DEVELOPMENT CORPORATION is a Public Charity headquartered in MADISON, WI. Financial data from the 2025 filing: $12.2M revenue, $6.6M expenses, $63.3M total assets. 1 publicly reported grants to this organization, totaling roughly $10K, appear in IRS filings.
EIN: 391277471
MADISON, WI
Economic Development
NTEE: S30
Latest filing: 2025
Total Revenue$12.2M
Total Expenses$6.6M
Total Assets$63.3M
Grant Records1
Funding Total$10K
Filing Years2021–2025
Where $100 goes at Madison Development Corporation
How Madison Development Corporation divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.
$91
Programs
the work itself
$9
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $91 for programs
$79
Housing
$12
Economic development
Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Sample Grants Received
PUBLIC AND SOCIETAL BENEFIT PROGRAM SUPPORT
$10,000
Showing up to 5 of 1 total records — full history available with membership.
Officers & Directors
VP OF FINANCE & CFO
Abigail Wallhaus
VP OF HOUSING
Cashton Laufenberg
DIRECTOR
Ed Lee
DIRECTOR (FROM 03/25)
Julian Walters
PRESIDENT - CEO
Lorrine Heinemann
DIRECTOR
Mary Strickland
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $12.2M | $6.6M | $63.3M |
| 2024 | $6.4M | $5.7M | $56.2M |
| 2023 | $6.4M | $5.1M | $53.1M |
| 2022 | $4.9M | $4.6M | $33.3M |
| 2021 | $5.2M | $4.6M | $34.3M |
Between 2021 and 2025, reported annual revenue grew from $5.2M to $12.2M (+136%), with total assets most recently reported at $63.3M.
Interactive year-over-year charts and full filing details available with membership.