Nonprofit · EIN 39-1466758
HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC
Tax-exempt · MADISON, WI 53718
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| October 31, 2025 | 990 | $1,071,556 | $277,222 | $794,334 | $10,880,405 | $6,767 | $10,873,638 |
| October 31, 2024 | 990 | $853,534 | $255,667 | $597,867 | $10,401,498 | $0 | $10,401,498 |
| October 31, 2023 | 990 | $434,366 | $266,497 | $167,869 | $8,559,160 | $104 | $8,559,056 |
Financial details: 990 for the year ended October 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $1,071,556
- Net gain from sales of assets
- $736,129
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $141,337
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $4,784
- Travel
- $25,646
- Program services (functional)
- $141,337
- Management and general (functional)
- $135,885
Balance sheet and other
- Total assets, start of year
- $10,401,498
- Total assets, end of year
- $10,880,405
- Total liabilities, end of year
- $6,767
- Net assets, end of year
- $10,873,638
- Publicly traded securities
- $10,778,650
- Net assets without donor restrictions
- $10,866,138
- Net assets with donor restrictions
- $7,500
- Gross receipts
- $4,056,037
- Employees
- 0
- Volunteers
- 19
- Year formed
- 1983
- State of legal domicile
- WI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended October 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KIRBY DAVIDSON FORMER | PRESIDENT & CEO (TERM 12/2024) Trustee or director, Officer | 4 | $31,947 | $287,517 | $65,289 |
| PAUL KATZ PRESIDENT | & CEO (EFF. 05/2024) Trustee or director, Officer | 4 | $14,814 | $133,327 | $832 |
| ADRIAN BEVERAGE | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JENIFER WALLER | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KARLTON ADAM | IMMEDIATE PAST CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| T RANN PAYNTER | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| VICKI KRAAI | MEMBER - CAC CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| JULIE REDFERN | MEMBER - BAB CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| BRIAN HUMPHREYS | MEMBER - BAB VICE CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| LISA YAFFE | MEMBER - CAC VICE CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| VALLABH SAMBAMURTHY | UW REPRESENTATIVE Trustee or director | 1 | $0 | $0 | $0 |
| AMBER VAN TIL | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL ADELMAN | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| RANDY HULTGREN | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| BALLARD CASSADY | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DOUG WAREHAM | MEMBER Trustee or director | 1 | $0 |
| JACKSON HATAWAY | MEMBER Trustee or director | 1 | $0 |
| JOE WITT | MEMBER Trustee or director | 1 | $0 |
| LORRIE TROGDEN | MEMBER Trustee or director | 1 | $0 |
| JOHN SORENSEN | MEMBER Trustee or director | 1 | $0 |
| RICHARD BAIER | MEMBER Trustee or director | 1 | $0 |
| RICK CLAYBURGH | MEMBER Trustee or director | 1 | $0 |
| ROSE OSWALD POELS | MEMBER Trustee or director | 1 | $0 |
990 for the year ended October 31, 2024: 23 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KIRBY DAVIDSON | CEO (THROUGH 12/2024) Trustee or director, Officer | 4 | $29,499 | $265,489 | $59,863 |
| PAUL KATZ | PRESIDENT & CEO (STARTED 05/2024) Trustee or director, Officer | 4 | $0 | $0 | $0 |
| RANDY HULTGREN | IMMEDIATE PAST CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KARLTON ADAM | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ADRIAN BEVERAGE | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MICHAEL ADELMAN | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KEVIN PERNICK | MEMBER - BAB CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL A WEAR | MEMBER - CAC CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| JULIE REDFERN | MEMBER - BAB VICE CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| VICKI KRAAI | MEMBER - CAC VICE CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| VALLABH SAMBAMURTHY | UW REPRESENTATIVE Trustee or director | 1 | $0 | $0 | $0 |
| AMBER VAN TIL | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| BALLARD CASSADY | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DOUG WAREHAM | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JACKSON HATAWAY | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JENIFER WALLER | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOE WITT | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| LORRIE TROGDEN | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOHN SORENSEN | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| RICHARD BAIER | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| RICK CLAYBURGH | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| ROSE OSWALD POELS | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| T RANN PAYNTER | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended October 31, 2023: 23 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KIRBY DAVIDSON | PRESIDENT & CEO Trustee or director, Officer | 36 | $27,454 | $247,087 | $55,330 |
| LORRIE TROGDEN | IMMEDIATE PAST CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RANDY HULTGREN | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KARLTON ADAM | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MICHAEL ADELMAN | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BETSY JOHNSON | MEMBER - BAB CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL A WEAR | MEMBER - CAC CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| KEVIN PERNICK MEMBER - | BAB VICE CHAIR (START 8/2023) Trustee or director | 1 | $0 | $0 | $0 |
| SUE BLACK | BAB VICE CHAIR (TERM 7/2023) Trustee or director | 1 | $0 | $0 | $0 |
| VICKI KRAAI | MEMBER - CAC VICE CHAIR Trustee or director | 1 | $0 | $0 | $0 |
| VALLABH SAMBAMURTHY | UW REPRESENTATIVE Trustee or director | 1 | $0 | $0 | $0 |
| ADRIAN BEVERAGE | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| AMBER VAN TIL | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| BALLARD CASSADY | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DOUG WAREHAM | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JACKSON HATAWAY | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JENIFER WALLER | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOE WITT | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOHN SORENSEN | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| RICHARD BAIER | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| RICK CLAYBURGH | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| ROSE OSWALD POELS | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| T RANN PAYNTER | MEMBER Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4721 S BILTMORE LN, MADISON, WI 53718-2107
- In care of
- % FIRSTAR BANK NA
- Principal officer (990 for 2024)
- PAUL KATZ, 4721 S BILTMORE LANE, MADISON, WI 53718
- Signed the 990
- PAUL KATZ, PRESIDENT & CEO
- Phone
- (608) 243-1945
- Website
- WWW.GSB.ORG
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
Mission
TO INITIATE, FUND, MARKET, AND IMPLEMENT PROGRAMS AND ACTIVITIES WHICH SUPPORT THE MISSION OF THE GRADUATE SCHOOL OF BANKING, INC.
Program accomplishments
- THE HERBERT V. PROCHNOW EDUCATIONAL FOUNDATION, INC. SUPPORTS RESEARCH IN BANKING AND EDUCATION AND SPONSORS A NUMBER OF EDUCATIONAL PROGRAMS INTENDED TO BENEFIT THE BANKING INDUSTRY. THIS YEAR, RECIPIENTS USED 59 SCHOLARSHIPS TO THE BANKING SCHOOL AND 9 TO THE HUMAN RESOURCES SCHOOL.Expenses $100,690 · grants $100,690
- DURING THE YEAR, THE HERBERT PROCHNOW EDUCATIONAL FOUNDATION, INC CONTINUED ITS MISSION TO SUPPORT THE GRADUATE SCHOOL OF BANKING, INC. BY FUNDING CURRICULUM DEVELOPMENT INITIATIVES. THE FOUNDATION PROVIDED RESOURCES TO DESIGN AND ENHANCE COURSE MATERIALS, INSTRUCTIONAL CONTENT, AND PROGRAM OFFERINGS TO ENSURE ALIGNMENT WITH CURRENT BANKING INDUSTRY PRACTICES AND LEADERSHIP DEVELOPMENT NEEDS. ACTIVITIES INCLUDED COLLABORATION WITH SUBJECT-MATTER EXPERTS, FACULTY, AND AN INSTRUCTIONAL DESIGN ORGANIZATION IN THE DEVELOPMENT OF ONE NEW EDUCATIONAL MODULE.Expenses $40,647 · grants $40,647
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in October, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | October 31, 2026 | March 15, 2027 | Not due yet |
| 2024 | October 31, 2025 | March 16, 2026 | 990 on file |
| 2023 | October 31, 2024 | March 17, 2025 | 990 on file |
IRS record
- EIN
- 39-1466758
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1984
- Accounting year ends
- October
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $10,880,405
- Income (IRS master file)
- $4,056,037
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | October 2025 | $1,071,556 | $277,222 | $10,880,405 | IRS |
| 990 | October 2024 | $853,534 | $255,667 | $10,401,498 | XML |
| 990 | October 2023 | $434,366 | $266,497 | $8,559,160 | XML |
| 990 | October 2022 | $657,763 | $290,367 | $8,682,125 | IRS |
| 990 | October 2021 | – | – | – | IRS |
| 990 | October 2020 | – | – | – | IRS |
| 990 | October 2019 | – | – | – | IRS |
| 990 | October 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 39-1466758).
Questions about HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC
- What is the EIN of HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC?
- The employer identification number (EIN) of HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC is 39-1466758.
- Is HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1984.
- Are donations to HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC due?
- The return for tax year 2025 (the year ending October 31, 2026) is due March 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended October 2025.
- Who is the principal officer of HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC?
- The 990 for the year ended October 31, 2025 names PAUL KATZ.
- Who are the officers and directors of HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC?
- The 990 for the year ended October 31, 2025 lists 23 people; 2 received compensation from the organization, the highest $31,947 (KIRBY DAVIDSON FORMER, PRESIDENT & CEO (TERM 12/2024)).
- How much revenue does HERBERT V PROCHNOW EDUCATIONAL FOUNDATION INC have?
- On its 990 for the year ended October 31, 2025 it reported revenue of $1,071,556, expenses of $277,222 and total assets of $10,880,405 at year end.
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