FISCAL REVIEW FINDS STATE AGENCY SAVED WISCONSIN NONPROFITS ALMOST $3.9 MILLION IN DEBT

The report indicated that WHEFA saved Wisconsin non-profit institutions nearly $3.9 million by refinancing outstanding debt and completed 18 financings for such institutions totaling more than $1.3 billion. WHEFA financings during this fiscal year is expected to create 442 new jobs and maintain 695 jobs, while an estimated 1,009 construction jobs will be created for new capital projects. “Tax-exempt financing is an important and effective financing tool for non-profits,” said Governor Evers. “We are extremely appreciative of the great work WHEFA does on behalf of non-profit organizations throughout Wisconsin. The ability to obtain access to capital at the lowest cost is vital to our non-profits, and we look forward to our continued partnership with WHEFA.” Highlights from the fiscal year in review included 13 nonprofit borrowers at 33 Wisconsin locations, that benefited from the bond proceeds during the fiscal year 2019, including four long-term care organizations, five acute-care organizations, two private schools, and two non-profit facilities. These Wisconsin nonprofit organizations employ more than 52,000 people.