| EAST RIVER ELECTRIC POWER COOPERATIVE INC | $293,586,852 | $293,586,852 |
| MADISON COMMUNITY HOSPITAL | $30,725,335 | $30,984,788 |
| INTER-LAKES COMMUNITY ACTION PARTNERSHIP INC | $12,239,716 | $12,073,129 |
| BETHEL LUTHERAN HOME | $6,908,337 | $5,842,122 |
| VALIANT LIVING INCORPORATED | $3,785,010 | $3,311,219 |
| DAKOTA STATE UNIVERSITY FOUNDATION | $3,444,107 | $2,774,279 |
| SOUTH DAKOTA ASSOCIATION OF RURAL WATER SYSTEMS | $2,270,972 | $2,134,814 |
| RURAL ELECTRIC ECONOMIC DEVELOPMENT INC | $2,354,510 | $1,055,106 |
| PRAIRIE HISTORICAL SOCIETY INC | $601,839 | $660,573 |
| GREATER MADISON CHAMBER OF COMMERCE | $321,996 | $324,645 |
| LAKE AREA IMPROVEMENT CORPORATION | $470,287 | $243,524 |
| EAST DAKOTA TRANSIT INC | $206,348 | $223,096 |
| VETERANS OF FOREIGN WARS RONALD WESTBY POST 2638 | $239,242 | $211,595 |
| BETHEL LUTHERAN HOME FOUNDATION | $194,662 | $167,002 |
| INTERLAKES AREA UNITED WAY CORP | $185,349 | $164,136 |
| DOMESTIC VIOLENCE NETWORK OF THE LAKES REGION | $160,836 | $156,350 |
| MADISON REGIONAL HEALTH FOUNDATION | $168,189 | $141,406 |
| MADISON CHRISTIAN SCHOOL | $112,691 | $114,868 |
| VALIANT LIVING FOUNDATION INC | $82,797 | $84,668 |
| INTERLAKES YOUTH SOFTBALL ASSOCIATION INC | $63,904 | $63,887 |
| SOUTH DAKOTA COMMUNITY ACTION PARTNERSHIP INC | $55,416 | $56,066 |
| MADISON AREA CAREER LEARNING CENTER | $56,649 | $49,084 |
| LAKE COUNTY FOOD PANTRY | $92,322 | $35,829 |
| MADISON COMMUNITY FOUNDATION INC | $58,871 | $27,771 |
| HABITAT FOR HUMANITY INTERNATIONAL EAST CENTRAL SOUTH DAKOTA | $3,591 | $20,132 |