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Badger Institute Inc

Milwaukee, Wisconsin · EIN 39-1592727 · Public & Societal Benefit · tax-exempt since 1988

B

Charity Clarity grade B (score 70.4 of 100), based on the Form 990 for the year ended March 2026.

Graded against 5,198 public & societal benefit nonprofits with revenue $500K–$2M filing the same form. A = top 10%, B = next 20%, C = middle 40%, D = next 20%, F = bottom 10%.

What goes into the grade

MeasureThis charityScore (0–100)
ReservesMonths of spending covered by unrestricted net assets.34.0 months48
GovernanceBoard independence, key policies and audit, per the 990.100% of practices100
Margin stabilityHow steady the surplus or deficit is year to year.70
Revenue spreadHow much revenue rests on one type of income.93% from one source44
Filing recordOn-time, complete filings, year after year.100%100
Program spendingSelf-reported by the filer.79.6%not scored
Management costsShare of spending.7.5%not scored
Cost to raise $1Fundraising cost per dollar given.$0.16not scored

Scores compare this charity with its peer group; 100 is best. How Charity Clarity rates charities.

Year by year

201720192020202120222023202420252026grey: revenue · green: spending
Year endedFormRevenueSpendingSurplusNet assetsMonths of spendingStaffGrade
Mar 2026Form 990$836K$1.11M−$272K$3.14M34.05B
Mar 2025Form 990$867K$1.20M−$334K$3.12M31.18C
Mar 2024Form 990$1.34M$1.30M$33K$3.35M30.88B
Mar 2023Form 990$1.42M$1.39M$24K$3.11M26.811B
Mar 2022Form 990$1.38M$1.35M$22K$3.38M29.912B
Mar 2021Form 990$1.19M$1.14M$50K$3.54M37.47C
Mar 2020Form 990$961K$1.15M−$185K$2.70M28.38C
Mar 2019Form 990$988K$1.00M−$13K$3.05M36.65C
Mar 2017Form 990$494K$910K−$416K$2.63M34.64C

From the organisation’s own IRS filings. “Months of spending” is total net assets divided by a month of that year’s spending. A blank grade means that year was not rated.

Read the filings

Every figure here comes from the returns this charity filed with the IRS. These sites show the full returns and more about the organisation:

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