The Medical College of Wisconsin Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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)
- Income
- $1.8 billion
- Spending
- $1.7 billion
- Spent on programs
- 92%
- Reserves
- 9.6 months of spending
- Largest source of income
- fees for its services, 80%
- Employees
- 8,196
- Volunteers
- 26
- Highest pay
- $2.6 million, asst prof-neurosurgery
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 89 out of 100. Higher than 81% of charities in its peer group (education, over $100m).
Reserves
28 of 35Spendable reserves would cover 9.6 months of spending.
Debt
16 of 20It owes 23% of what it owns.
Living within its means
15 of 15Income exceeded spending by 4% of income.
Income trend
15 of 15Income rose 9% on the year before.
Spending floor
15 of 1592% of spending went to programs and raising each dollar of donations cost 4 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 41% of charities in its peer group (education, over $100m).
Independent board
25 of 2524 of 28 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Reports results. Its tax return states measurable results. These are its own figures and nobody has checked them.
Results it reports
- Approximately 1,675 students are enrolled in degree-granting educational programs.Work delivered
- Faculty supervise more than 700 physicians in residency training and 200 in fellowship training.Work delivered
- More than 3,725 hours of Continuing Medical Education-accredited activities were provided.Work delivered
- More than 101,400 credits were awarded to physicians and other health professionals.Work delivered
- Faculty conducted approximately 5,000 research studies, including clinical trials.Work delivered
- 31 new discoveries and inventions were reported to the Office of Technology Development.Work delivered
- Providers care for more than 520,000 patients, representing about 5.2 million patient visits annually.Work delivered
- Faculty and staff are engaged in more than 4,030 community engagement activities.Work delivered
Read from the return by an AI model and shown only where the wording was found in the return. These are the charity's own figures.
Programs described in its return (4)
- $155.4 million spent. Education - Approximately 1,675 students are enrolled in degree-granting educational programs at MCW. This includes 1,039 medical students, 458 graduate students, 127 pharmacy students, and 53 Master of Science in Anesthesia students. MCW faculty supervise more than 700 physicians in residency training and 200 physicians in fellowship training through the Medical College of Wisconsin Affiliated Hospitals, Inc. Additionally, scientists are engaged in postdoctoral research fellowship training through the MCW School of Graduate Studies and MCW provided more than 3,725 hours of Continuing Medical Education-accredited activities and awarded more than 101,400 credits to physicians and other health professionals. The MCW School of Medicine, with campuses in Milwaukee, Green Bay and Central Wisconsin, provides an innovative approach to academic medicine that prepares its students to excel in their fields and instills a responsibility to administer compassionate, equitable, and culturally competent care. The MCW School of Pharmacy is preparing the next generation of pharmacists to engage in team-based, patient-centered care in a multitude of practice settings by training in advanced practice skills and providing extensive exposure to a variety of clinical settings and world-class research activities.
- $379.3 million spent. Research - MCW is a major national research center and the second largest research institution in Wisconsin. In fiscal year 2025, MCW invested $428.1 million in research, teaching, training and related purposes which will lead to improved patient care and health outcomes. This total includes $130.7 million from the National Institutes of Health (NIH). MCW ranks in the top third of U.S. medical schools in NIH research support. MCW's research enterprise is focused on strategic, prioritized areas of research involving interdisciplinary collaboration among scientists and physicians with the goal of rapidly translating discoveries into advances for patient care. MCW scientists lead biomedical and population health advancements through laboratory research, clinical trials and community engaged research. MCW faculty conducted approximately 5,000 research studies, including clinical trials, and reported 31 new discoveries and inventions to MCW's Office of Technology Development. The portfolio includes 416 active technologies covered by more than 590 pending and issued U.S. and foreign patents.
- $984.4 million spent. Patient Care - Approximately 1,920 MCW physicians and 1,830 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. MCW providers, physician assistants, nurse practitioners and other health care practitioners care for more than 520,000 patients, representing approximately 5.2 million patient visits annually. MCW has a policy of providing health care services without charge, or at amounts less than established rates, to patients who are unable to pay and who meet certain eligibility criteria established in MCW's community care policy. In fiscal year 2025, the estimated direct and indirect costs incurred by MCW to provide services under MCW's community care policy were $11.7 million. MCW physicians and practitioners provide patient care at three major affiliate locations - Froedtert & MCW regional health network facilities in partnership with Froedtert THEDACARE Health, Children's Wisconsin facilities, and the Clement J. Zablocki VA Medical Center - and many other hospitals and clinics throughout Wisconsin.
- Community Engagement - MCW's Community Engagement mission focuses on building productive partnerships between MCW and communities across Wisconsin and beyond. Through these partnerships, MCW and its community collaborators work together to have a greater impact on addressing Wisconsin's most pressing issues affecting health. MCW faculty and staff are engaged in more than 4,030 community engagement activities, involving hundreds of community partners, groups, and organizations, to advance the health of people and communities throughout metro Milwaukee and Wisconsin.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since November 1968.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.