Wisconsin Alumni Research Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
TO SUPPORT SCIENTIFIC RESEARCH WITHIN THE UW-MADISON COMMUNITY BY PROVIDING FINANCIAL SUPPORT, ACTIVELY MANAGING ASSETS, AND MOVING INNOVATIONS TO THE MARKETPLACE FOR A FINANCIAL RETURN AND GLOBAL IMPACT.
- Income
- $189.3 million
- Spending
- $220.0 million
- Spent on programs
- 88%
- Reserves
- Over 10 years of spending
- Largest source of income
- investment income, 86%
- Employees
- 95
- Volunteers
- 0
- Highest pay
- $1.0 million, trustee/ceo, secretary
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: 75 out of 100. Higher than 67% of charities in its peer group (education, over $100m).
Reserves
35 of 35Spendable reserves would cover more than ten years of spending.
Debt
10 of 20It owes 30% of what it owns.
Living within its means
0 of 15Spending exceeded income by 16% of income.
Income trend
15 of 15Income rose 35% on the year before.
Spending floor
15 of 1588% of spending went to programs and raising each dollar of donations cost 0 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 2514 of 15 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
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (2)
- $148.5 million spent. 1) WARF SUPPORTS UW-MADISON THROUGH ONGOING OPERATIONAL AND FUNCTIONAL SUPPORT, A CORE ANNUAL BASE GRANT, AND ADDITIONAL YEAR-TO-YEAR GRANTS. WARF IS A CENTURY-OLD, INDEPENDENT, NONPROFIT SUPPORTING ORGANIZATION THAT HAS PROVIDED DIRECT OPERATIONAL SUPPORT THAT MOST PUBLIC UNIVERSITIES MUST PROVIDE THEMSELVES, INCLUDING SERVING AS UW-MADISON'S DESIGNATED PATENT MANAGEMENT ORGANIZATION; HOLDING AND MANAGING EDUCATIONAL AND RESEARCH-RELATED ASSETS; AND CONNECTING THE WIDER COMMUNITY TO SCIENTIFIC RESEARCH AT UW-MADISON. SINCE THE GREAT DEPRESSION, WARF'S ANNUAL BASE GRANT HAS SUPPORTED PIVOTAL CAMPUS ACTIVITIES SUCH AS FACULTY RECRUITMENT AND RETENTION, GRADUATE FELLOWSHIPS, AND GRANTS-IN-AID FOR RESEARCH PROJECTS. OVER SUBSEQUENT DECADES, WARF GREW TO PROVIDE SUPPORT THAT REACHES INTO EVERY CORNER OF UW-MADISON'S INNOVATION ECOSYSTEM, INCLUDING FUNDING BUILDINGS AND EQUIPMENT TO IMPROVE CAMPUS RESEARCH AND MAINTAIN UW-MADISON'S EXCELLENCE.
- $45.1 million spent. 2) IN ADDITION TO UW-MADISON'S PUBLIC RESEARCH MISSION, WARF ALSO SUPPORTS THE MORGRIDGE INSTITUTE FOR RESEARCH (MORGRIDGE), A PRIVATE NON-PROFIT MEDICAL RESEARCH ORGANIZATION FUNCTIONALLY INTEGRATED WITH UW-MADISON, THROUGH BOTH GRANT FUNDING AND DIRECT OPERATIONAL SUPPORT, INCLUDING TECHNOLOGY TRANSFER ACTIVITIES. FOUNDED IN 2006, MORGRIDGE USES ITS PRIVATE STATUS AND STREAMLINED ORGANIZATIONAL STRUCTURE TO RESPOND NIMBLY TO EMERGING OPPORTUNITIES TO IMPROVE HUMAN HEALTH THROUGH INNOVATIVE, INTERDISCIPLINARY BIOMEDICAL DISCOVERIES. WARF'S SUPPORT OF MORGRIDGE CREATES A CULTURE IN PARTNERSHIP WITH UW-MADISON THAT ENABLES RIGOROUS BIOMEDICAL RESEARCH, SPARKS CURIOSITY, AND SERVES SOCIETY THROUGH TRANSLATIONAL OUTCOMES.
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 September 7, 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 September 30, 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 September 10, 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 September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since March 1935.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 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 7, 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.