
Gov. Tony Evers is giving a big thumbs up to the Wisconsin Health and Educational Facilities Authority (WHEFA) for its impactful work in 2024. The group, which provides key financial support to nonprofit organizations in the state, has been crucial in fostering a thriving community by enabling these entities to carry out and enhance their missions. "Nonprofit organizations...help create a vibrant and thriving economy," said Gov. Evers in a statement that highlighted the importance of tax-exempt bonds in their operations, as reported by the Office of the Governor.
The fiscal year in review for Wisconsin Health and Educational Facilities Authority showed a whopping $556 million in bonds issued, contributing to 13 different Wisconsin nonprofit organizations across the state. This financial move by Wisconsin Health and Educational Facilities Authority is projected to boost the local job market with an estimated 47 direct jobs and over 3,000 construction jobs. From hospitals to schools, these nonprofits tactfully leverage the bonds to expand vital services while keeping their eye on cost-effectiveness in their mission to serve the community. In an era where the bottom line often eclipses social good, Wisconsin Health and Educational Facilities Authority's strategy reflects a balance of economic savvy and a heart for community service, according to the Office of the Governor.
Wisconsin Health and Educational Facilities Authority, standing as a testament to its sustained efficacy since 1973, does not come at the expense of the state's wallet. "Bonds issued by WHEFA do not utilize any state funds or constitute an indebtedness of the state," as stated by the Office of the Governor. This financial autonomy ensures that the state's support does not come with a fallback burden on Wisconsin's taxpayers, making Wisconsin Health and Educational Facilities Authority's achievements all the more commendable.
The nod of approval from Gov. Evers is seen as a signal of continuity for Wisconsin Health and Educational Facilities Authority's initiatives. Larry Wiemer, Wisconsin Health and Educational Facilities Authority Executive Director, recognized the governor's support and underscored the integral role of tax-exempt private activity bonds in nonprofit economics. "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," Wiemer told the public in the Office of the Governor official announcement. Looking ahead, Wisconsin Health and Educational Facilities Authority remains committed to advocating and educating nonprofits on navigating their capital needs, which continues to propel Wisconsin's community services forward.
With its roots tracing back to 1973 and active capital financing since 1979, Wisconsin Health and Educational Facilities Authority's contributions to the Wisconsin nonprofit sector have shaped the local economic and social landscapes significantly. As Gov. Evers and other state leaders provide backing, Wisconsin Health and Educational Facilities Authority's track record suggests that the authority will persist in being a pivotal player in Wisconsin's community progress and non-profits will continue benefitting from its specialized financial acumen.