Overview
What is Future Wisconsin Housing Fund Inc?
Future Wisconsin Housing Fund Inc is a nonprofit organization based in Middleton, Wisconsin. Their primary focus is overseeing projects that construct, develop, and operate low-income multifamily housing units across Wisconsin. By providing rental housing to low-income individuals, this organization contributes to the fostering of affordable housing. Their mission encompasses the purchase, rehabilitation, construction, ownership, rental, management, and sale or other disposition of housing units, as well as raising capital and managing investments in low-income housing. Additionally, they offer services and facilities for the residents of low-income housing.
What are the reviews and ratings of this charity?
Charity Navigator rates the Future Wisconsin Housing Fund Inc with a score of 64%, resulting in a Two-Star out of Four Star rating. This rating indicates that while the organization demonstrates strengths in certain areas, there are notable deficiencies in accountability and financial transparency.
The organization has achieved a perfect score for having a majority independent board, which is a positive aspect of its governance. Additionally, it has shown a strong commitment to program expenses, allocating 100% of its funds to its mission-related activities, which reflects its dedication to addressing housing issues in Wisconsin. However, the lack of financial statements and documentation on its website raises concerns about transparency and accessibility of information.
Furthermore, the absence of essential policies such as conflict of interest and whistleblower protections points to potential weaknesses in organizational governance. The Future Wisconsin Housing Fund Inc must address these limitations to improve its accountability and overall rating, ensuring trust and confidence among its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Future Wisconsin Housing Fund Inc legitimate?
Future Wisconsin Housing Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Future Wisconsin Housing Fund 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: $19,800
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Future Wisconsin Housing Fund Inc?
Future Wisconsin Housing Fund Inc is dedicated to fostering affordable housing solutions. They engage in various activities related to providing rental housing for low-income individuals, including purchasing, rehabilitating, constructing, and managing housing properties. Their mission extends to raising capital, initiating and managing investments in low-income housing projects, and offering services and facilities to residents of these housing units. Their primary goal is to make a difference in the lives of low-income individuals by ensuring they have access to safe, affordable housing options.
What is the revenue of Future Wisconsin Housing Fund Inc?
Future Wisconsin Housing Fund Inc's revenue in 2023 was $27,968,164.
Who are the executives of Future Wisconsin Housing Fund Inc and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $4,300
- Related: $0
- Other: $0
- Compensation: $3,500
- Related: $0
- Other: $0
- Compensation: $3,300
- Related: $0
- Other: $0
- Compensation: $3,000
- Related: $0
- Other: $0
- Compensation: $3,000
- Related: $0
- Other: $0
- Compensation: $2,700
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Future Wisconsin Housing Fund Inc?
Future Wisconsin Housing Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Future Wisconsin Housing Fund Inc
Future Wisconsin Housing Fund Inc is a dedicated organization that focuses on the fostering of affordable housing. Its primary mission involves the purchase, rehabilitation, construction, ownership, rental, management, and sale or other disposition of housing units for low-income individuals. The organization takes an active role in raising capital, initiating and managing investments in low-income housing. In addition, it provides essential services and facilities for the residents of low-income housing.
Future Wisconsin Housing Fund Inc is committed to providing rental housing for people with limited financial resources. By owning and managing housing units, the organization ensures that these essential living spaces are available and affordable for those who need them most. The organization's work extends beyond just providing a roof over the heads of low-income individuals; it aims to create stable and supportive living environments that contribute to the overall well-being of its residents.
The organization's comprehensive approach to affordable housing includes not only the acquisition and management of housing units but also the provision of valuable services to ensure the success and sustainability of its housing initiatives. These services range from the initiation and management of investments in low-income housing to the operation and maintenance of housing facilities. The ultimate goal is to create thriving communities where low-income individuals can call home and build a foundation for a better future.
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Impact
October, 2024
Future Wisconsin Housing Fund Inc significantly impacts the community by enhancing access to affordable rental housing for low-income individuals in Wisconsin. By overseeing the construction, development, and operation of low and very low-income multifamily housing units, the organization plays a critical role in addressing the housing crisis faced by vulnerable populations.
Through its mission, the Fund not only facilitates the construction of new homes but also engages in the rehabilitation of existing properties, ensuring that residents have safe and dignified living conditions. The organization also emphasizes financial sustainability by raising capital and managing investments in low-income housing projects, further securing long-term benefits for the community.
By providing essential services and facilities to residents, Future Wisconsin Housing Fund Inc fosters a supportive environment that encourages stability and growth among low-income families. Overall, its efforts contribute to the broader goal of creating inclusive communities where everyone has the opportunity for secure and affordable housing.
This information is meant to be a general summary of Future Wisconsin Housing Fund 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.
- Investment Income: $339,877
- Program Service Revenue: $27,381,015
- Gross Receipts: $27,968,164
Assets and Liabilities:
- Total Assets: $113,493,231
- Total Liabilities: $71,057,850
- Net Assets: $42,435,381
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$27,381,015
Organization Details
Founding Year
1997
Principal Officer
Justin Spahn
NTEE Category
Code: L25 - Housing
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