Gov. Evers Applauds WHEFA’s Success in 2024 for Supporting Wisconsin Nonprofit Organizations

MADISON — Gov. Tony Evers today commended the Wisconsin Health and Educational Facilities Authority (WHEFA) for another successful year assisting Wisconsin nonprofit organizations.

“Nonprofit organizations, including acute care hospitals, senior care facilities, higher education institutions, K-12 schools, and other community-based service organizations, provide critically important community services, contribute to the health and well-being of folks across our state, and help create a vibrant and thriving economy,” said Gov. Evers. “Tax-exempt bonds are important tools, allowing these organizations to fulfill and expand their missions. For the past 45 years, WHEFA has played a vital part in ensuring nonprofit organizations have access to low-cost, tax-exempt financing to expand services while staying cost-effective in continuing their mission to serve and support local communities.”

As highlighted in WHEFA’s 2024 Fiscal Year in Review, WHEFA completed financings for 13 Wisconsin nonprofit organizations located in 13 cities throughout the state and issued bonds totaling more than $556 million. It is estimated that the projects supported by these financings will help create an estimated 47 direct jobs and 3,029 construction jobs. Nonprofit borrowers that benefited from bond proceeds during WHEFA’s fiscal year 2024 included four acute-care facilities, four educational facilities, and three senior living facilities. Combined, these organizations employ more than 11,600 people and span eight Wisconsin counties.

“We remain grateful for the support of the governor as we continue to provide nonprofit organizations throughout Wisconsin access to tax-exempt bonds. Tax-exempt private activity bonds are a vitally important tool for nonprofit organizations’ ability to provide their services in an efficient and cost-effective manner and allow them to reinvest the savings into their core missions—supporting local health, education, and community-focused services,” said WHEFA Executive Director Larry Wiemer. “We look forward to continuing to be a resource, educator, and advocate to nonprofit organizations throughout Wisconsin as they look to fund their capital needs.”

WHEFA, created by the Wisconsin State 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.

An online version of this release is available here.

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.