Wisconsin Housing Preservation Corp

Organization Overview

Wisconsin Housing Preservation Corp is located in Madison, WI. The organization was established in 2002. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Wisconsin Housing Preservation Corp employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wisconsin Housing Preservation Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Wisconsin Housing Preservation Corp generated $53.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $49.2m during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PRESERVE, PROVIDE, AND PROTECT AFFORDABLE HOUSING FOR THE LOW AND MODERATE INCOME CITIZENS IN WISCONSIN.

Describe the Organization's Program Activity:

Part 3 - Line 4a

WHPC ACQUIRED 87 ADDITIONAL HOUSING UNITS IN 2021. THE TOTAL OF LEASABLE UNITS IN THE WHPC PORTFOLIO IS 8,436 AT DECEMBER 31, 2021, AND THE TOTAL NUMBER OF PROJECTS IS 144, IN WHICH WHPC HAD FULL OWNERSHIP OR A LIMITED INTEREST IN. AT DECEMBER 31, 2021, THERE ARE 5,271 UNITS, OR 87 PROJECTS, THAT ARE 100% OWNED BY WHPC. THIS FORM 990 SUBMISSION INCLUDES THE OPERATING ACTIVITY OF 87 PROJECTS. 4 OTHER PROJECTS WITH 64 UNITS OWNED BY 3 INDIVIDUAL ENTITIES FILE SEPARATE FORMS 990. WHPC HAS AN OWNERSHIP INTEREST AND IS THE MANAGING MEMBER OF ANOTHER 3,101 UNITS, OR 53 PROJECTS, WHICH ARE REPORTED ON SEPARATE TAX RETURNS. 77% OF THE PROPERTIES INCLUDED IN THIS SUBMISSION OPERATE WITH SUBSIDIES RECEIVED FROM THE US DEPARTMENT OF HOUSING & URBAN DEVELOPMENT (HUD) OR THE USDA RURAL DEVELOPMENT (RD), AND 98% OF THE PROPERTIES ARE INCOME AND RENT RESTRICTED. 15% OF THE PROPERTIES ALSO RECEIVED HUD SERVICE COORDINATOR GRANT FUNDS, WHICH ENABLE THE ELDERLY AND DISABLED PROPERTIES TO HIRE SPECIALIZED STAFF FOR CASE MANAGEMENT AND REFERRAL SERVICES, LINKING THEM TO COMMUNITY AGENCIES, EDUCATING THEM ON AVAILABLE SERVICES AND TENANCY ISSUES, AND OTHER FUNCTIONS TO FACILITATE INDEPENDENT LIVING. THE DECEMBER 31, 2021 AVERAGE OCCUPANCY RATE FOR THE 87 PROJECTS REPORTED IS 92%.WHPC'S PORTFOLIO OF HUD SECTION 8 PROJECT-BASED SUBSIDIZED PROPERTIES IS CONSISTENT WITH HUD WISCONSIN'S CHARACTERISTICS, HAVING AVERAGE HOUSEHOLD INCOMES OF ABOUT $13,500 AND AVERAGE TENANT-PAID RENTS BEING ABOUT $312 PER MONTH. WHPC'S AVERAGE AGE OF ITS ELDERLY POPULATION IS ABOUT 50 FOR DISABLED ADULTS.


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Board, Officers & Key Employees

Name (title)Compensation
Mary Wright
President
$298,430
Michael Slavish
Chief Operating Officer
$263,639
Joseph Carpenter
Chief Financial Officer
$231,690
Lee Federer
Vice President - General C
$221,413
David Ginger
Vice President
$195,499
Robert Dicke
Assistant Vice President O
$135,068

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Iconica Inc
Construction Management
$4,748,657
Meridian Group
Property Management
$1,395,236
Acc Management Group Inc
Property Management
$2,052,716
V&f Roof Consulting & Service Inc
Roofing Contractor
$1,095,754
Cardinal Capital Management Inc
Property Management
$1,162,755
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $5,440,644
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$5,440,644
Total Program Service Revenue$46,598,503
Investment income $1,892,942
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$156,752
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $53,775,337

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Wisconsin Housing Preservation Corp has recieved totaling $1,500.

Awarding OrganizationAmount
Pillsbury Foundation

St Louis, MO

PURPOSE: CHARITABLE

$1,500
View Grant Recipient Profile

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