Overview
What is Wisconsin Housing Preservation Corp?
The Wisconsin Housing Preservation Corp (WHPC) is a nonprofit organization headquartered in Madison, Wisconsin, dedicated to preserving, providing, and protecting affordable housing for the low- and moderate-income citizens in the state. In 2022, they expanded their portfolio to include 285 additional housing units, bringing their total to 8,721 leasable units across 148 projects. WHPC either fully owns or has a limited interest in 5,556 of these units, managing 91 of them directly while reporting the rest on separate tax returns. Approximately 77% of their properties operate with subsidies from the U.S. Department of Housing and Urban Development (HUD) or the USDA Rural Development, and 76% of them are income and rent restricted. Moreover, 16% of their properties received HUD Service Coordinator Grant funds, allowing them to hire specialized staff for case management and referral services, facilitating independent living for elderly and disabled tenants. As of December 31, 2022, the average occupancy rate for their projects stood at 93%. WHPC's portfolio of HUD Section 8 subsidized properties aligns with HUD Wisconsin's characteristics, featuring average household incomes of around $14,700 and average tenant-paid rents of approximately $347 per month. The elderly population in their properties is, on average, about 50 years old for disabled adults.
Official website here: www.whpc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86%
Wisconsin Housing Preservation Corp has received an 86% rating, which equates to a Three-Star out of Four Stars designation on Charity Navigator. This rating reflects a strong performance in areas of accountability and finance, indicating that the organization is effectively managing its resources and maintaining transparency in operations.
The organization showcases several strengths, such as having an entirely independent board and a robust conflict of interest policy. Their program expense ratio of 88.34% demonstrates a commitment to allocating funds towards their programs rather than administrative costs. Additionally, they have a comprehensive audit and oversight framework in place, ensuring sound financial practices.
However, some limitations are evident, particularly in the liabilities to assets ratio, which stands at 62.93%. While the organization performs well in many areas, this ratio suggests potential financial vulnerability that stakeholders should consider. Overall, Wisconsin Housing Preservation Corp appears to operate with a solid foundation but may need to address its financial liabilities for greater stability.
This AI summary has been generated from information found on Charity Navigator.
Is Wisconsin Housing Preservation Corp legitimate?
Wisconsin Housing Preservation Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wisconsin Housing Preservation Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,498,309
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,422,201
For more financial information, click here
Official website here: www.whpc.com
What is the mission statement of Wisconsin Housing Preservation Corp?
The Wisconsin Housing Preservation Corp (WHPC) is dedicated to preserving, providing, and protecting affordable housing for low and moderate-income citizens in Wisconsin. The organization acquires, preserves, and develops low-income and affordable housing, with the majority of these properties being subsidized through various housing programs. In 2022, WHPC added 285 new housing units to its portfolio, bringing the total to 8,721 leasable units and 148 projects. Approximately 77% of WHPC's properties operate with subsidies from the U.S. Department of Housing and Urban Development (HUD) or the USDA Rural Development (RD), and 76% of these properties are income and rent restricted. Additionally, 16% of the properties received HUD Service Coordinator Grant funds to hire specialized staff and facilitate independent living for elderly and disabled residents. The average occupancy rate for WHPC's properties was 93% at the end of 2022. The organization's portfolio includes Project-Based Subsidized Properties with average household incomes below $14,700 and average tenant-paid rents of about $347 per month. The elderly population in WHPC's properties has an average age of about 50 for disabled adults.
Official website here: www.whpc.com
Who is the CEO of Wisconsin Housing Preservation Corp?
Mary Wright is the Chairman of Wisconsin Housing Preservation Corp.
Official website here: www.whpc.com
What is the revenue of Wisconsin Housing Preservation Corp?
Wisconsin Housing Preservation Corp's revenue in 2022 was $56,526,588.
Official website here: www.whpc.com
Who are the executives of Wisconsin Housing Preservation Corp and what are their salaries?
Here are 18 key members and their salaries:
- Compensation: $28,924
- Related: $0
- Other: $0
- Compensation: $9,750
- Related: $0
- Other: $0
- Compensation: $18,480
- Related: $0
- Other: $0
- Compensation: $14,000
- Related: $0
- Other: $0
- Compensation: $14,560
- Related: $0
- Other: $0
- Compensation: $327,710
- Related: $0
- Other: $28,948
- Compensation: $9,500
- Related: $0
- Other: $0
- Compensation: $7,000
- Related: $0
- Other: $0
- Compensation: $9,000
- Related: $0
- Other: $0
- Compensation: $237,064
- Related: $0
- Other: $32,601
- Compensation: $229,510
- Related: $0
- Other: $12,758
- Compensation: $199,535
- Related: $0
- Other: $29,744
- Compensation: $271,464
- Related: $0
- Other: $17,761
- Compensation: $138,449
- Related: $0
- Other: $28,176
- Compensation: $104,319
- Related: $0
- Other: $26,066
- Compensation: $100,373
- Related: $0
- Other: $17,716
- Compensation: $100,482
- Related: $0
- Other: $19,699
- Compensation: $100,476
- Related: $0
- Other: $18,732
Official website here: www.whpc.com
Where can I find the form 990 for Wisconsin Housing Preservation Corp?
Wisconsin Housing Preservation Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.whpc.com
Learn more at the official website: www.whpc.com
Mission Statement of Wisconsin Housing Preservation Corp
Wisconsin Housing Preservation Corp, or WHPC, is a dedicated organization that strives to preserve, provide, and protect affordable housing for low and moderate-income citizens in Wisconsin. The primary mission of WHPC is to acquire, preserve, and develop low-income and affordable housing units across the state. The majority of these housing units are subsidized through various federal and state grants, as well as housing programs.
In the year 2022 alone, WHPC successfully acquired 285 additional housing units, expanding its portfolio to a total of 8,721 leasable units. WHPC either owns these units outright or holds a limited interest in them, with a total of 148 such projects in its portfolio. Of these, 5,556 units, or 91 projects, are wholly owned by WHPC. The organization manages these properties efficiently, with an average occupancy rate of 93% across the 91 projects reported.
Seventy-seven percent of WHPC's properties receive subsidies from the U.S. Department of Housing and Urban Development (HUD) or the USDA Rural Development (RD), and 76% of these properties are income and rent-restricted. Sixteen percent of the properties also receive HUD Service Coordinator Grant funds, enabling elderly and disabled tenants to hire specialized staff for case management and referral services. These essential services link tenants to community agencies, educate them on available services, and address tenancy issues, allowing them to live more independently.
WHPC's portfolio of HUD Section 8 project-based subsidized properties aligns with Wisconsin's demographic characteristics, with an average household income of approximately $14,700 and an average tenant-paid rent of around $347 per month. The elderly population within WHPC's properties averages about 50 years old for disabled adults. By focusing on the acquisition, preservation, and development of affordable housing for those in need, WHPC plays a crucial role in ensuring that Wisconsin's low and moderate-income citizens have access to safe, secure, and affordable living environments.
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Impact
October, 2024
Wisconsin Housing Preservation Corp (WHPC) significantly impacts affordable housing accessibility for low- and moderate-income residents in Wisconsin. In 2022, WHPC acquired 285 additional housing units, bringing its total portfolio to 8,721 leasable units across 148 projects. A substantial majority of these properties—77%—operate with subsidies from the U.S. Department of Housing and Urban Development (HUD) or the USDA Rural Development.
WHPC's commitment to maintaining affordable housing is evident in its management of projects that are primarily income and rent-restricted, with over three-quarters of its properties ensuring rental affordability. The average household income within WHPC's portfolio is approximately $14,700, with average tenant-paid rents around $347 per month, demonstrating a strong alignment with the needs of low-income families.
Moreover, WHPC also plays a vital role in supporting the elderly and disabled populations. About 16% of its properties benefit from HUD Service Coordinator grant funds, which allow these properties to hire specialized staff to provide essential services such as case management and community resource linkage. This holistic approach helps residents maintain their independence and navigate tenancy issues more effectively.
With an average occupancy rate of 93% across its projects, WHPC not only addresses the housing crisis but also fosters community stability by ensuring sustainable living conditions for thousands of residents throughout Wisconsin.
This information is meant to be a general summary of Wisconsin Housing Preservation Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$467,218
- Program Service Revenue: $50,058,569
- Gross Receipts: $66,545,358
Assets and Liabilities:
- Total Assets: $406,689,805
- Total Liabilities: $255,943,465
- Net Assets: $150,746,340
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$48,305,907
OTHER TENANT SERVICES
Revenue
$1,752,662
Organization Details
Founding Year
2001
Phone
(608) 807-1430Principal Officer
Mary Wright
Main Address
150 E GILMAN ST 1500, MADISON, WI, 53703
Website
www.whpc.comNTEE Category
Code: L21 - Housing
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