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Wheda Foundation INC FY2024 filing

Tax-deductible

Madison, WI501(c)(3)HousingEIN 39-1464540Revenue $2.5M in FY2024

On file with the IRS908 E Main St Suite 501, 53703-2930 · Madison, WITax-exempt since Oct 1984Publicly supported charity — 170(b)(1)(A)(vi)

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The WHEDA Foundation Inc is responsible for receiving and administering housing grant funds on behalf of the Wisconsin Housing and Economic Development Authority.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $94K a year · 5% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $500K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.8M
75% of total assets
Worth a look: liabilities are 75% of assets; over 65%.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.5M
+16% vs prior year
Spent
$1.7M
To programs
100%
Net assets
$954K
By yearFY2021–FY2025
Revenue
$2.5M
FY2024▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.0M
FY2022$1.0M
FY2023$2.1M
FY2024$2.5M
FY2025$2.0M
Expenses
$1.7M
FY2024▼ -15%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.0M
FY2022$1.0M
FY2023$2.0M
FY2024$1.7M
FY2025$2.5M
Net assets
$954K
FY2024▲ +536%
Tap a bar for its year
Net assets by fiscal year
FY2021$0
FY2022$0
FY2023$150K
FY2024$954K
FY2025$472K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1984.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.7M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Elmer Moore
President/Director
$0Pt VII · Sec A
James M Langdon
Vice President/Director
$0Pt VII · Sec A
Sherry L Gerondale
Secretary/Treasurer/Director
$0Pt VII · Sec A
Mary Wright
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wheda Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Administers housing grant funds and supports homebuyer education programs to help low-income Wisconsin residents secure affordable housing.

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Provided by the organization

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2 programs · $1.7M · in their own filed words · FY2023
01

Persons-in-crisis 44 grants were awarded to support the development or improvement of shelter and facilities for the homeless, dependent persons in need of protective services and victims of domestic abuse. 25 grants were awarded in the "permanent" category and 19 grants were awarded in the "emergency/transitional" category.

$1.7Mprogram expense
02

$500,000 was received from the Robert Wood Johnson Foundation to be used to pay for single family funding fees, one loan has been underwritten in fiscal 2024

$4Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Robert Wood Johnson FoundationFY2024$500K
Total grants receivedfrom 1 funder$500K
Grants paid · 192 grants · $7.2M · 2021–2024
Unitemized GrantFY2024$108,456
La Casa De Esperanza INCWI · FY2024$59,911
West Central Wisconsin Community Action Agency INCWI · FY2024$50,000
Rodney Scheel House Foundation LtdWI · FY2024$50,000
Taylor County Housing AuthorityFY2024$50,000
Revitalize Milwaukee INCWI · FY2024$50,000
Racine Revitalization Partnership INCWI · FY2024$50,000
Porchlight INCWI · FY2024$50,000
Osseo Housing INCWI · FY2024$50,000
Opportunity of North Central Wisconsin INCWI · FY2024$50,000
Neighborhood Housing Services of Green Bay INCWI · FY2024$50,000
Housing Authority County of WashburnFY2024$50,000
Greater Green Bay Habitat for HumanityWI · FY2024$50,000
Covey INCWI · FY2024$50,000
Center for Veterans Issues INCWI · FY2024$50,000
Bayfield County Housing AuthorityFY2024$50,000
Women's Resource Center of Racine INCWI · FY2024$50,000
Wisconsin Community Services INCWI · FY2024$50,000
See all 192 grants →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.5M
Ln 12
Gifts and grantsLn 1h$2.5M
Money outPt IX
$1.7M
Ln 25
Programscol B$1.7M
Owns and owesPt X
$954K
net assets · Ln 32
Cash and savingsLn 1–2$954K
Total assetsLn 16$3.8M
LiabilitiesLn 26$2.8M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.5M
Government grantsLn 1e$2.0M
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$954K
Cash and savings togetherLn 1–2$954K
Total assetsLn 16$3.8M
LiabilitiesLn 26$2.8M
Net assetsLn 32$954K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$158K$954K
Total assetsLn 16$1.2M$3.8M
LiabilitiesLn 26$1.0M$2.8M
Net assetsLn 32$150K$954K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.7M$1.7M
Grants to domestic individualsLn 2$4K$4K
Total functional expensesLn 25$1.7M$1.7M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.0M$2.5M−$482K$472K 990 PDF
FY2024 Viewing $2.5M$1.7M$804K$954K 990 PDF
FY2023 $2.1M$2.0M$150K$150K 990 PDF
FY2022 $1.0M$1.0M$0$0 990 PDF
FY2021 $1.0M$1.0M$0$0 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,500,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,150,000$2,500,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,150,000$2,500,000
I-13 Grants and similar amounts paidPrior year $2,000,000$1,695,906
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$0
I-18 Total expensesPrior year $2,000,000$1,695,906
I-19 Revenue less expensesPrior year $150,000$804,094
Part VI · Governance 3 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $2,500,000 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$2,000,000
VIII-1f All other contributions, gifts and grants$500,000
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$2,500,000
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$2,500,000
Part IX · Statement of functional expenses $1,695,906 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $1,691,913$1,691,913
IX-2 Grants to domestic individualsPrograms $3,993$3,993
IX-25 Total functional expensesPrograms $1,695,906 · Management $0 · Fundraising $0$1,695,906
Part X · Balance sheet $3,758,188 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $157,611$954,094
X-4 Accounts receivableStart of year $1,007,611$2,804,094
X-16 Total assetsStart of year $1,165,222$3,758,188
X-17 Accounts payable and accrued expensesStart of year $1,007,611$2,804,094
X-18 Grants payableStart of year $7,611$0
X-26 Total liabilitiesStart of year $1,015,222$2,804,094
X-32 Total net assets or fund balancesStart of year $150,000$954,094
X-33 Total liabilities and net assetsStart of year $1,165,222$3,758,188
Part XI · Reconciliation of net assets $954,094 net assets at year end
XI-1 Total revenue$2,500,000
XI-2 Total expenses$1,695,906
XI-3 Revenue less expenses$804,094
XI-4 Net assets at start of year$150,000
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$954,094

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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