Highlands Foundation Inc

MADISON, WI EIN: 20-3941123 Website

Highlands Foundation Inc is a private foundation based in Madison, Wisconsin, established in 2006. It is designated as a 501(c)(3) charitable organization and classified as a corporate foundation under the category of Philanthropy, Voluntarism and Grantmaking Foundations.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$5.7M

-6.7% YoY

Annual Giving

$610K

-94.2% YoY

Grant Count

+22.2% YoY

Avg Grant Size

$55K

-95.2% YoY

Under IRS private-foundation payout rules, Highlands Foundation Inc reported a distributable amount of $334K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation is a family foundation of the Bakke family that focuses on grantmaking in the following areas:

Education
Philanthropy, Voluntarism & Grantmaking
Human Services
Unrestricted charitable gifts
Community projects (including pickleball initiatives and concerts on the green)

Grantmaking

The foundation made nine grants in 2023. Recent grants include:

Grant Range

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Geographic Focus

Where this funder awards grants

The foundation primarily funds organizations in:

Wisconsin
New York
District of Columbia

Grant Distribution by State

Wisconsin $18.9M (94%)

District of Columbia $1.1M (5%)

New York $50K (0%)

Arizona $30K (0%)

States

Arizona District of Columbia New York Wisconsin

Cities

MadisonManitowish WatersMiddletonPhoenixStaten IslandTucsonWashington

Financial History

Multi-year comparison from IRS filings

As of 2023:

Total Assets: $6,075,218
Total Revenues: $360,785
Total Expenses: $10,463,248
Total Liabilities: $0
Investment Income and Dividends: $615,331

As of 2024:

Total Assets: $5,667,314
Total Giving: $610,000

Staffing: The foundation operates with 0 employees.

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$5,667,314	$6,075,218	$16,152,235
Revenue	$236,680	$360,785	$169,817
Expenses	$647,073	$10,463,248	$829,954
Qualifying Distributions	$610,108	$10,427,607	$772,596
Net Investment Income	$204,715	$579,700	$247,545
Distributable Amount	$334,071	$766,387	$801,310

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

50 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include John F Kennedy Center for the Performing Arts ($250,000), Domestic Abuse Intervention Services ($100,000), University of Wisconsin Foundation ($100,000).

Recipient	Purpose	Amount
BETHEL HORIZONS MADISON, WI	UNRESTRICTED CHARITABLE GIFT	$25,000
DOMESTIC ABUSE INTERVENTION SERVICES MADISON, WI	UNRESTRICTED CHARITABLE GIFT	$100,000
JOHN F KENNEDY CENTER FOR THE PERFORMING ARTS WASHINGTON, DC	UNRESTRICTED CHARITABLE GIFT	$250,000
MADISON MUSEUM OF CONTEMPORARY ART MADISON, WI	UNRESTRICTED CHARITABLE GIFT	$1,000
MADISON SYMPHONY ORCHESTRA LEAGUE MADISON, WI	UNRESTRICTED CHARITABLE GIFT	$5,000
NORTH LAKELAND DISCOVERY CENTER MANITOWISH WATERS, WI	UNRESTRICTED CHARITABLE GIFT	$1,000
TUNNEL TO TOWERS FOUNDATION STATEN ISLAND, NY	UNRESTRICTED CHARITABLE GIFT	$50,000
UNITED WAY OF DANE COUNTY MADISON, WI	UNRESTRICTED CHARITABLE GIFT	$25,000
UNIVERSITY OF WISCONSIN FOUNDATION MADISON, WI	DIVISION OF PLASTIC SURGERY GREATEST NEED FUND	$100,000
UNIVERSITY OF WISCONSIN FOUNDATION MADISON, WI	CDIS BUILDING FOR THE FUTURE FUND	$50,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
SUSAN A BAKKE	PRESIDENT	1	—
JAMES J BAKKE	VICE PRESIDENT	1	—
BLAINE R RENFERT	SECRETARY & TREASURER	1	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Highlands Foundation Inc fund?

The foundation is a family foundation of the Bakke family that focuses on grantmaking in the following areas: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services • Unrestricted charitable gifts • Community projects (including pickleball initiatives and concerts on the green)

How do I apply for a grant from Highlands Foundation Inc?

**Grant Activity:** The foundation made nine grants in 2023. Recent grants include: • John F Kennedy Center for the Performing Arts: $250,000 (Unrestricted Charitable Gift) • United Way of Dane County: $25,000 (Unrestricted Charitable Gift) • Arizona Humane Society: $20,000 (Unrestricted Charitable Gift) • University of Wisconsin Foundation (recipient noted) **Grant Ranges:** Typical awards range from $1,000 to $10,005,000. **Total Giving:** • 2023: $610,000 in total giving reported • Historica…

Where does Highlands Foundation Inc make grants?

The foundation primarily funds organizations in: • Wisconsin • New York • District of Columbia

What size grants does Highlands Foundation Inc award?

In 2024, Highlands Foundation Inc awarded 11 grants totaling $610K — an average of about $55K per grant, based on its IRS Form 990 filings.

How much is Highlands Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Highlands Foundation Inc reported a distributable amount of $334K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.