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Wisconsin Housing Preservation Corp

EIN 30-0002040 · Madison, WI

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair50 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

WHPC ACQUIRES, PRESERVES AND DEVELOPS LOW-INCOME AND AFFORDABLE HOUSING IN WISCONSIN. THE MAJORITY OF THE HOUSING IS SUBSIDIZED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, U.S.D.A. RURAL DEVELOPMENT, FEDERAL AND STATE GRANTS, AND OTHER HOUSING PROGRAMS.

Income
$85.3 million
Spending
$78.2 million
Spent on programs
89%
Reserves
-29.1 months of spending
Largest source of income
fees for its services, 92%
Employees
0
Volunteers
0
Highest pay
$408,187, coo/president (start apr 2025)

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 50 out of 100. Higher than 43% of charities in its peer group (housing, $10m to $100m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    5 of 20

    It owes 68% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 8% of income.

  • Income trend

    15 of 15

    Income rose 8% on the year before.

  • Spending floor

    15 of 15

    89% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 44% of charities in its peer group (housing, $10m to $100m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $70.0 million spent. WHPC ACQUIRED 98 ADDITIONAL HOUSING UNITS IN 2025. THE TOTAL OF LEASABLE UNITS IN THE WHPC PORTFOLIO IS 9,448 AT DECEMBER 31, 2025, AND THE TOTAL NUMBER OF PROJECTS IS 158, IN WHICH WHPC HAD FULL OWNERSHIP OR A LIMITED INTEREST IN. AT DECEMBER 31, 2025, THERE ARE 5,914 UNITS, OR 98 PROJECTS, THAT ARE 100% OWNED BY WHPC. THIS FORM 990 SUBMISSION INCLUDES THE OPERATING ACTIVITY OF 98 PROJECTS. FOUR 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 3,534 UNITS, OR 56 PROJECTS, WHICH ARE REPORTED ON SEPARATE TAX RETURNS. OF THE PROPERTIES INCLUDED IN THIS SUBMISSION, 98 PROJECTS OPERATE WITH SUBSIDIES RECEIVED FROM US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AND 18 PROJECTS WITH SUBSIDIES RECEIVED FROM USDA RURAL DEVELOPMENT (RD), ALL OF WHICH ARE MAJORITY RENT AND INCOME RESTRICTED. IN ADDITION TO RENTAL SUBSIDIES, WHPC RECEIVES FUNDS FROM 28 ANNUAL GRANTS, SUPPORTING 35 HUD PROJECTS (62 LOCATIONS) IN THE MULTIFAMILY SERVICE COORDINATOR (MFSC) PROGRAM. THIS ENABLES PROJECTS 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.AS OF DECEMBER 31, 2025, THE AVERAGE OCCUPANCY RATE FOR HUD-BASED PROJECTS WAS 95.0%, FOR RD-BASED PROJECTS WAS 93.2%, AND WHPC'S TOTAL STABILIZED PORTFOLIO OVERALL OCCUPANCY RATE WAS 94.5%.WHPC'S PORTFOLIO OF HUD SECTION 8 PROJECT-BASED SUBSIDIZED PROPERTIES IS CONSISTENT WITH HUD WISCONSIN'S CHARACTERISTICS, HAVING AVERAGE HOUSEHOLD INCOMES OF ABOUT $16,317 AND AVERAGE TENANT-PAID RENTS BEING ABOUT $382 PER MONTH. WHPC'S AVERAGE AGE OF ITS ELDERLY POPULATION IS ABOUT 50 FOR DISABLED ADULTS.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 2002.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.