The Medical College of Wisconsin (MCW) is a 501(c)(3) educational institution located in Milwaukee, Wisconsin. Established in 1968, MCW operates as a comprehensive academic medical center providing medical education, research, and patient care services. The organization is classified as a University or Technological Institute under the National Taxonomy of Exempt Entities (NTEE).
Key facts about The Medical College of Wisconsin Inc
- EIN
- 39-0806261
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $64,978,323
- Grants made (2025)
- 205
- Average grant
- $316,967
- Median grant
- $75,062
- New grantees (estimate)
- 26% first-time grantees (53 of 205, 2025)
- Total assets
- $3,469,802,142
- Primary geography
- Wisconsin (24% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who The Medical College of Wisconsin Inc funds
By grant dollars, the top recipient states for The Medical College of Wisconsin Inc's 205 itemized 2025 grants were Wisconsin (24%), Minnesota (17%) and Maryland (6%). The most frequent recipient cities were Milwaukee, WI (43 grants), Madison, WI (14 grants), Green Bay, WI (4 grants) and Chicago, IL (4 grants). None of its 198 grants with a stated purpose were described as general or operating support. Recurring purposes include "Research Subaward" (81 grants), "Advance Health WI" (68 grants) and "Comm Eng Subaward" (14 grants).
Is The Medical College of Wisconsin Inc open to new grantees?
26%
first-time grantees, 2025
In 2025, 53 of 205 grantees (26%) were first-time recipients. First grants averaged $404K; repeat grants $287K. How we count
Medians: $37K first-time, $90K repeat.
Estimate from itemized IRS Form 990-PF grant lists (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with The Medical College of Wisconsin Inc
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$3.5B
+6.0% YoY
Annual Giving
$65.0M
+40.1% YoY
Grant Count
205
+0.0% YoY
Avg Grant Size
$317K
+40.1% YoY
Mission & Focus Areas
The Medical College of Wisconsin is a distinguished leader and innovator in the education and development of the next generation of physicians, scientists, pharmacists, and health professionals. MCW discovers and translates new knowledge in the biomedical and health sciences, provides cutting-edge, collaborative patient care of the highest quality, and improves the health of the communities it serves.
Ready to take the next step with The Medical College of Wisconsin Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 205 itemized 2025 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year 2025 (as of June 30, 2025):
- Total Revenue: $1.76 billion
- Total Expenses: $1.68 billion
- Total Assets: $3.47 billion
- Total Liabilities: $801 million
Fiscal Year 2024:
- Assets: $3.3 billion
- Income: $2.1 billion
- Revenue: $1.6 billion
- Program Spending: $1.5 billion (92% of expenses)
- Overhead: $131.6 million
Revenue Sources (2024):
- Contributions & Grants: $222.0 million
- Program Service Revenue: $1.3 billion
- Investment Income: $76.6 million
Financial Stability:
- Operating reserves: 18.6 months (as of 2024)
- Liabilities-to-assets ratio: 0.25
- Operating margin: 1.4%
- Revenue growth (2023-2024): +8.2%
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $3,469,802,142 | $3,274,618,395 | $3,048,459,625 |
| Revenue | $1,758,334,139 | $1,607,441,142 | $1,485,866,745 |
| Expenses | $1,682,301,948 | $1,584,630,058 | $1,459,941,335 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $128,610,509 | $76,648,855 | $73,756,378 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS May 18, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS May 17, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 15, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 15, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 15, 2026)
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 2025
Grant Size Distribution
920 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest recipients include National Marrow Donor Program ($10,826,064), Graduate School Scholarships ($10,373,759), Medical Student Scholarships ($6,446,495).
| Recipient | Purpose | Amount |
|---|---|---|
| NATIONAL MARROW DONOR PROGRAM Minneapolis, MN | RESEARCH SUBAWARD | $10,826,064 |
| GRADUATE SCHOOL SCHOLARSHIPS | — | $10,373,759 |
| MEDICAL STUDENT SCHOLARSHIPS | — | $6,446,495 |
| EMMES CORPORATION THE Rockville, MD | RESEARCH SUBAWARD | $3,571,931 |
| UNIVERSITY OF WISCONSIN MADISON Madison, WI | RES/AHW/EDUC/HIV | $2,017,300 |
| MARQUETTE UNIVERSITY Milwaukee, WI | RES SUB/AHW/TRAIN | $1,892,075 |
| VERSITI WISCONSIN INC Milwaukee, WI | RES SUB/AHW | $1,877,041 |
| BOSTON CHILDRENS HOSPITAL Boston, MA | RESEARCH SUBAWARD | $1,281,661 |
| RESEARCH TRAINEE STIPENDS | — | $1,152,577 |
| UNIVERSITY OF CALIFORNIA SAN FRANCISCO San Fran, CA | RES SUB/AHW/EDUC | $1,127,367 |
Leadership & Key People
Leadership team and compensation from IRS filings
President and CEO: Mr. John R. Raymond, Sr., M.D.
Compensation Overview
From 2025 IRS filing
From 2025 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Max C Lee MD | Asst Prof-Neurosurgery | 40 | $2,518,112 |
| Michael Edward Mitchell MD | Chief, Prof-Ped Cardiac Surg | 1 | $1,951,025 |
| John R Raymond Sr MD | Trustee/President and CEO | 40 | $1,637,184 |
| Saman Shabani MD | Asst Prof-Neurosurgery | 40 | $1,872,699 |
| Abdel Alqwasmi MD | Physician-Hematology/Oncology | 40 | $1,808,484 |
| Joseph E Kerschner MD | See Schedule O for Title | 39.5 | $1,583,187 |
| Matthew Cooper MD | Chief, Prof-Transplant Surgery | 40 | $1,523,101 |
| David King MD | Trustee | 40 | $1,190,917 |
| Matthew Lester | Exec VP-Finance & Admin, COO | 40 | $859,882 |
| Deborah M Costakos MD | See Schedule O for Title | 35 | $858,747 |
| Cheryl a Maurana PHD | See Schedule O for Title | 40 | $757,864 |
| M Aileen Shinaman JD | Sr VP-General Counsel/Asst Sec | 40 | $679,078 |
| Mara Lord PHD | Sr VP-CHF Strategy & GRWTH Off | 40 | $616,416 |
| Shelisa Dalton | Chief Financial Officer | 40 | $589,325 |
| David a Margolis MD | See Schedule O for Title | 30 | $632,913 |
| Adrienne Mitchell | Sr VP-HR, Chief People Officer | 40 | $542,368 |
| Kevin R Regner MD | See Schedule O for Title | 40 | $546,960 |
| David Hotchkiss | VP-Information Services, CIO | 40 | $465,702 |
| Jason E Kraiss | VP-Inst Advancement, Cdo | 40 | $448,637 |
| Gregory M Wesley JD | See Schedule O for Title | 40 | $457,558 |
| Curt D Sigmund PHD | Trustee | 40 | $463,687 |
| Roy L Silverstein MD | See Schedule O for Title | 40 | $432,359 |
| Kevin M Eide | VP-Fin Planning/Data Analytics | 40 | $374,496 |
| Pamela J Stanick | VP-Finance & Treasury | 40 | $372,586 |
| Tennille Sifuentes | VP-Corp Compliance/Risk MGT | 40 | $334,354 |
| Jeffrey Bornemann | VP-Facilities & Op to 3/2/25 | 40 | $339,891 |
| George Mackinnon III PHD | Dean, School of Pharmacy | 40 | $371,682 |
| Susan Melcher | VP-Total Rewards/HR Analytics | 40 | $346,708 |
| C Greer Jordan PHD | VP-Anchor Partnerships | 40 | $335,642 |
| Daisy Sahoo PHD | Dean, School of Grad Studies | 40 | $339,099 |
| Nathan Berken | VP-Government Relations | 40 | $268,773 |
| Kimara Ellefson | Former Interim VP-HR | 40 | $288,454 |
| Mary Reinke | VP-Marketing & Communications | 40 | $268,622 |
| Jennifer S Bultman | See Schedule O for Title | 40 | $243,548 |
| Ravindra P Misra PHD | FMR Dean, School of Grad Stud | 40 | $212,683 |
| John T Newsome JD | FMR Sr VP-Gen Counsel/Asst Sec | 10 | $140,563 |
| Elizabeth Brenner | Trustee/Chair | 3 | — |
| Philip B Flynn | Trustee/Immediate Past Chair | 1 | — |
| John Donofrio | Trustee/Vice Chair | 2 | — |
| Jacqueline Herd-Barber | Trustee/Secretary | 1 | — |
| Jon D Hammes | Trustee/Treasurer | 1 | — |
| Christy L Brown | Trustee | 1 | — |
| Barbara Calkins MD | Trustee | 1 | — |
| Linda G Gorens-Levey | Trustee | 1 | — |
| Paul W Griepentrog | Trustee | 1 | — |
| John M Grogan | Trustee | 1 | — |
| Nancy Hernandez | Trustee | 1 | — |
| Ted D Kellner | Trustee | 1 | — |
| David Lubar | Trustee | 1 | — |
| Gregory S Marcus | Trustee | 1 | — |
| Anthony McHenry | Trustee | 1 | — |
| Chris Miskel | Trustee | 1 | — |
| Justin L Mortara PHD | Trustee | 1 | — |
| Janis M Orlowski MD | Trustee | 1 | — |
| Gil Peri | Trustee as of 8/12/24 | 1 | — |
| Warren D Pierson | Trustee | 1 | — |
| R Jan Pirozzolo-Mellowes | Trustee | 1 | — |
| Austin Ramirez | Trustee | 1 | — |
| Kristina M Ropella PHD | Trustee | 1 | — |
| Steve Schwab MD | Trustee | 1 | — |
| Rich Tennessen | Trustee | 1 | — |
| Peggy Troy | Trustee to 8/11/24 | 1 | — |
| Brian S Cowperthwaite | VP-Facilities &Op as of 3/3/24 | 40 | — |
Contact Information
Principal Address: The Medical College of Wisconsin Inc. 8701 Watertown Plank Road Milwaukee, WI 53226
Mailing Address: PO Box 26509 Milwaukee, WI 53226
Phone: 414-955-4700 or 414-955-8665
Website: www.mcw.edu
EIN: 39-0806261
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Medical College of Wisconsin Inc fund?
The Medical College of Wisconsin is a distinguished leader and innovator in the education and development of the next generation of physicians, scientists, pharmacists, and health professionals. MCW discovers and translates new knowledge in the biomedical and health sciences, provides cutting-edge, collaborative patient care of the highest quality, and improves the health of the communities it serves.
What size grants does The Medical College of Wisconsin Inc award?
In 2025, The Medical College of Wisconsin Inc awarded 205 grants totaling $65.0M — an average of about $317K per grant, based on its IRS Form 990 filings.
What is The Medical College of Wisconsin Inc's EIN?
The Medical College of Wisconsin Inc's EIN (Employer Identification Number) is 39-0806261. IRS Form 990 filing data is available on this page for 2019–2025.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.