Gov. Evers Applauds WHEFA for a Successful 2021 Fiscal Year Helping Wisconsin Nonprofits

MADISON — Gov. Tony Evers today commended the Wisconsin Health and Educational Facilities Authority (WHEFA), which just issued its 2021 Fiscal Year in Review for the fiscal year ending June 30, 2021.

The report indicates WHEFA saved Wisconsin nonprofit institutions over $24 million by refinancing outstanding debt and completed nine financings for such institutions totaling more than $635 million. WHEFA financings during this fiscal year will help create an estimated 74 new jobs and maintain 209 jobs, while an estimated 810 construction jobs will be created for new capital projects.

“Nonprofits are an essential part of our state’s economy, and providing for their success is something that WHEFA has done efficiently for 42 years. This support has become even more important the past year as the pandemic hit Wisconsin nonprofits hard, especially our acute care hospitals, senior care facilities, and schools,” said Gov. Evers. “As our state recovers from the pandemic, WHEFA’s continued financial assistance will be key to ensuring nonprofits across the state can keep providing vital services and bouncing back and better.”

Highlights from the fiscal year in review include eight different nonprofit borrowers at 13 Wisconsin locations who benefited from bond proceeds during the fiscal year 2021, including three long-term care organizations, three acute-care organizations, one private school, and one other nonprofit facility. These Wisconsin nonprofit organizations employ more than 22,000 people.

“We are very thankful for the support of the governor as we continue to serve nonprofits during these unprecedented times,” said Executive Director Dennis Reilly. “Closing this fiscal year marks another year assisting a variety of nonprofits throughout the state and we look forward to continuing our mission to finance and refinance critical infrastructure projects for Wisconsin nonprofits as we emerge on the other side of the pandemic.”

WHEFA, created by the Legislature in 1973, has been providing active capital financing assistance to Wisconsin nonprofit organizations since 1979. Bonds issued by WHEFA do not utilize any state funds or constitute an indebtedness of the state. The state has no liability to repay any obligation issued by WHEFA under any circumstances.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.