Oversight built for public trust.
Madrone's foundations exist to serve the public interest — and are structured, governed, and documented accordingly.
Independent boards, charitable accountability
Each Madrone foundation is governed by a board of directors responsible for upholding its charitable mission, approving projects and financings, and overseeing the long-term stewardship of every facility the foundations own. Day-to-day operations are led by the officers profiled on our Leadership page.
The full board roster with member affiliations is published on our Leadership page. Hawkins Delafield & Wood LLP serves as outside general counsel to the foundations.
How Madrone is organized
Madrone Community Development Foundation
Recognized as tax-exempt under Section 501(c)(3) of the Internal Revenue Code. Owns student housing, workforce housing, and community facility projects through single-purpose subsidiary entities — such as Madrone-MTSU Student Housing LLC and Madrone-MS Student Housing LLC — so that each project's assets, financing, and obligations remain cleanly separated.
Madrone Health Foundation
Recognized as tax-exempt under Section 501(c)(3) of the Internal Revenue Code. Dedicated to lessening the administrative and financial burdens of healthcare organizations, with exempt purposes that include owning healthcare facilities, energy infrastructure, and senior living facilities.
Documents & disclosures
As charitable organizations and borrowers in the public bond markets, Madrone's foundations maintain the records their partners, investors, and regulators expect.
IRS Determination Letters
Federal recognition of each foundation's 501(c)(3) tax-exempt status.
Articles of Incorporation & Bylaws
Each foundation's governing documents as filed with the State of California.
IRS Form 990 Filings
Annual information returns, also available through public charity databases such as GuideStar/Candid and ProPublica's Nonprofit Explorer.
Continuing Disclosure for Project Financings
Annual reports and material event notices for each project's bonds are filed with the Municipal Securities Rulemaking Board and available to investors on EMMA (emma.msrb.org).
Questions about our governance?
We welcome inquiries from partner institutions, investors, and regulators.
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