Overview
What is Wheda Foundation Inc?
Wheda Foundation Inc, located at 908 E Main St Suite 501, Madison, Wisconsin 53703, is a nonprofit organization dedicated to supporting housing needs. It functions as an intermediary, receiving and managing grant funds on behalf of the Wisconsin Housing and Economic Development Authority. The foundation's primary mission is to aid in providing housing for the state's special needs population. Through annual competitions, they distribute grant funds to fund the development or improvement of permanent and emergency/transitional shelters and facilities for individuals in crisis, including the homeless, dependent persons in need of protective services, and victims of domestic abuse. Their efforts contribute significantly to improving the living conditions and ensuring the safety of these vulnerable groups.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Star rating)
The Wheda Foundation Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. With an overall score of 56%, the charity lacks independent board members and transparency, as evidenced by its low scores in areas such as board independence and the absence of certain financial disclosures on its website. These factors contribute to a perception of insufficient governance.
However, the organization demonstrates strengths in specific areas, such as maintaining a robust program expense ratio, which suggests a focus on its mission-driven activities. Additionally, it has established a conflict of interest policy and has mechanisms in place for audit and oversight. The foundation's handling of material diversions of assets is also commendable, reflecting a level of financial integrity.
Despite these strengths, the lack of independent board oversight, insufficient transparency, and various governance shortcomings raise red flags for potential donors and stakeholders. This mixed performance highlights the need for the Wheda Foundation Inc to improve its accountability measures to build trust and enhance its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Wheda Foundation Inc legitimate?
Wheda Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wheda Foundation Inc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Wheda Foundation Inc?
The WHEDA Foundation Inc's mission, in alignment with the Wisconsin Housing and Economic Development Authority, is to annually distribute grant funds through a competitive process. The primary objective of these grants is to aid in the state's housing for individuals with special needs. The foundation has awarded grants in two categories: permanent and emergency/transitional. These funds are utilized to support the development or improvement of shelters and facilities for groups such as the homeless, dependent persons needing protective services, and victims of domestic abuse.
Who is the CEO of Wheda Foundation Inc?
Elmer Moore is the President/Director of Wheda Foundation Inc.
What is the revenue of Wheda Foundation Inc?
Wheda Foundation Inc's revenue in 2023 was $2,150,000.
Who are the executives of Wheda Foundation Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Wheda Foundation Inc?
Wheda Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Wheda Foundation Inc
The Wheda Foundation Inc, in alignment with the Wisconsin Housing and Economic Development Authority, is committed to receiving and managing grant funds. Their primary mission, expressed through an annual Housing Grants competition, is to aid in the state's housing development for those with special needs. The foundation focuses on two main categories: permanent and emergency/transitional housing. This encompasses the support of shelters and facilities for homeless individuals, dependent persons requiring protective services, and victims of domestic abuse. Through these grants, the Wheda Foundation Inc contributes to the betterment of housing solutions for these vulnerable populations, thereby promoting a more inclusive and supportive housing landscape.
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Impact
July, 2024
Wheda Foundation Inc's impact can be seen through the allocation of housing grant funds to support the development or improvement of shelter and facilities for vulnerable populations in Wisconsin. This includes individuals in crisis, such as the homeless, dependent persons in need of protective services, and victims of domestic abuse. Through the awarding of grants in both permanent and emergency/transitional categories, Wheda Foundation Inc plays a crucial role in addressing housing needs for the special needs population in the state.
This information is meant to be a general summary of Wheda Foundation Inc. 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 2023.
- Gross Receipts: $2,150,000
Assets and Liabilities:
- Total Assets: $1,165,222
- Total Liabilities: $1,015,222
- Net Assets: $150,000
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Organization Details
Founding Year
1983
Phone
(608) 266-7884Principal Officer
Elmer Moore
Main Address
908 E Main St Suite 501, Madison, WI, 53703
NTEE Category
Code: L120 - Housing
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