WHEFA Overview

WHEFA, created by the Wisconsin legislature in 1973 (Chapter 231, Wisconsin Statutes), has been providing active capital financing assistance to Wisconsin nonprofit health care organizations since 1979. Over the years, the Wisconsin legislature has expanded the types of nonprofit entities eligible for WHEFA financing assistance from just hospitals and other health care entities, to also include independent colleges and universities, certain continuing care facilities, private elementary and secondary schools, research facilities, and community rehabilitation providers. WHEFA’s charter now allows all 501(c)(3) nonprofit organizations with a project in Wisconsin access to WHEFA’s low-cost capital financing.

Funds for each project financed by WHEFA are obtained through the sale of revenue bonds of WHEFA. Bonds are sold to institutional lenders in “direct placement” transactions and to individual and institutional investors in “public offerings”. Bond sale proceeds are loaned by WHEFA to the borrowing organization or project sponsor. No state or other public funds are used.

WHEFA’s bonds are payable solely out of loan repayments from the borrowing organization, sponsor or guarantor. The bonds are not a debt, liability, or “moral” obligation of the State of Wisconsin or any of its political subdivisions. WHEFA has no taxing power.

The credit supporting any WHEFA bond issue is the credit of the borrowing entity involved. The availability of financing and its terms and conditions depends in each case upon the credit-worthiness of each borrower. Interest paid on WHEFA bonds is exempt from federal income taxation, resulting in materially lower financing costs to the borrowing organization. Interest on certain bonds issued by WHEFA is exempt from present Wisconsin income taxation.

We strive to make the WHEFA process as streamlined as possible. For existing WHEFA borrowers wishing to only refinance outstanding debt, there is no application required. For existing WHEFA borrowers with new money projects and first time WHEFA borrowers, there is a very brief one-page application that needs to be completed.

The Benefits of WHEFA

WHEFA is an advocate, educator and resource for all nonprofit organizations in Wisconsin looking to finance qualifying capital projects. The staff assists all nonprofit organizations in a variety of ways, which may include:

Providing a Federal tax-exemption on all eligible financings and a State tax-exemption on certain financings.
Providing front-end financing assistance when borrowers are deciding among financing alternatives.
Imparting the knowledge and experiences from one transaction to another.
Expediting the financing process.
Having the ability to issue one series of bonds for multiple locations (including other states).
Providing educational assistance through newsletters and conferences.
Offering assistance in the determination of eligibility for tax-exempt financing.
Advocating at both the federal and state level for the continuation and improvement of the tax-exempt financing process.
Maintaining professional competence through membership in the National Association of Health & Educational Facilities Finance Authorities (NAHEFFA).

Mission Statement

The Wisconsin Health and Educational Facilities Authority (“WHEFA”) assists all eligible nonprofit organizations to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvements and expansion needs.

Vision Statement

Regardless of whether or not WHEFA is involved in the ultimate issuance of bonds, WHEFA will be a resource to be used by nonprofit organizations when researching and evaluating various financing options.

WHEFA will fulfill its mission by providing prompt, user-friendly, efficient, and cost-effective financing, communication, education, and advocacy services to all stakeholders, including financing team participants, government officials, trade associations, and the public.

WHEFA’s ability to be successful is dependent on effective Member leadership and a staff that can provide operational excellence. This success requires Members and staff to be well informed about the issues facing the industries served by WHEFA, and to stay abreast of financing options available to them.

Key Dates in WHEFA History

1979 Wisconsin Health Facilities Authority (WHFA) completed its first bond issue
1987 WHFA statute expanded to include the ability to finance private colleges / universities and continuing care facilities
2004 WHEFA statute expanded to include the ability to finance private, nonprofit elementary or secondary educational institutions (K-12)
2009 WHEFA statute expanded to include the ability to finance private nonprofit research facilities
2009 Legislative change authorizes a state tax-exemption on healthcare IT project financings by WHEFA
2013 WHEFA statute expanded to include the ability to finance all nonprofit institutions headquartered in Wisconsin or spending project dollars in Wisconsin.
2013 WHEFA statute expanded to allow interest income on bonds issued by WHEFA to be exempt from State income tax if such an exemption is already available on bonds eligible to be issued for the same purpose through another Wisconsin conduit issuer
2019 WHEFA statute expanded to allow interest income on bonds issued by WHEFA after July 3, 2019 totaling $35 million or less to be exempt from State income tax.
2019 WHEFA celebrates 40th anniversary of 1st bond issue.

WHEFA is governed by seven Members (the Members), all of whom must be Wisconsin residents, appointed by the Governor of the State of Wisconsin by and with the consent of the Wisconsin State Senate. Members of WHEFA serve staggered seven-year terms and continue to serve until their successors are appointed.

The present Members of WHEFA are:

James Dietsche, Chairperson
Mr. Dietsche, a resident of DePere, Wisconsin, was formerly Executive Vice President / Chief Financial Officer at Bellin Health Systems, Green Bay. Mr. Dietsche was appointed as a Member in 2012. His current term expires June 30, 2026.

Tim Size, Vice-Chairperson
Mr. Size, a resident of Madison, Wisconsin, is Executive Director at the Rural Wisconsin Health Cooperative, Sauk City. Mr. Size was appointed as a Member in 1988. His current term expires June 30, 2025.

Renee Anderson, Member
Ms. Anderson, a resident of Milwaukee, Wisconsin, is President/CEO of Saint John’s Communities, Inc., Milwaukee. Ms. Anderson was appointed as a Member in 2017. Her current term expires June 30, 2024.

Billie Jo Higgins, Member
Ms. Higgins, a resident of Appleton, Wisconsin, is Vice President Finance & Information Services of Evergreen Retirement Community, Oshkosh. Ms. Higgins was appointed as a Member in 2020. Her current term expires June 30, 2028.

Jim Oppermann, Member
Mr. Oppermann, a resident of Fitchburg, Wisconsin, was formerly Senior Vice President for Finance and Management Services at Alverno College, Milwaukee. Mr. Oppermann was appointed as a Member in 2015. His current term expires June 30, 2030.

Pamela Stanick, Member
Ms. Stanick, a resident of Brookfield, Wisconsin, is Vice President, Finance & Treasury at The Medical College of Wisconsin, Milwaukee. Ms. Stanick was appointed as a Member in 2016. Her current term expires June 30, 2029.

Robert Van Meeteren, Member
Mr. Van Meeteren, a resident of Reedsburg, Wisconsin, is President/CEO at Reedsburg Area Medical Center, Reedsburg. Mr. VanMeeteren was appointed as a Member in 2011. His current term expires June 30, 2027 and he is serving pending Wisconsin State Senate confirmation.

WHEFA operates with a staff of four. The experienced WHEFA staff is ready to assist all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs. For more information please do not hesitate to contact any of the WHEFA staff.

Larry D. Wiemer II

larry@whefa.com

Executive Director
Mr. Wiemer has been the Executive Director since March 2022.

Tatiana Graver

tatiana@whefa.com

Associate Executive Director
Ms. Graver has been the Associate Executive Director since 2022. She began her career with WHEFA as Manager of Finance in 2012.

Tanya Coppersmith

tanya@whefa.com

Manager of Operations & Finance
Ms. Coppersmith has been the Manager of Operations & Finance at WHEFA since 2010. She began her career with WHEFA in 1987 and most recently served as the Operations & Finance Analyst.

Stephanie Schirripa

stephanie@whefa.com

Executive Assistant
Ms. Schirripa has been the Executive Assistant at WHEFA since 2015. She began her career with WHEFA in 2002 as the Administrative Assistant.

WHEFA is a member of the National Association of Health & Educational Facilities Finance Authorities (NAHEFFA).

Since 1987, NAHEFFA and its two predecessor associations have been on the forefront of advocacy and support for issuers of tax-exempt financing for health and educational providers. As the preeminent association of such issuers, NAHEFFA facilitates national advocacy, support, networking and education on behalf of its members. NAHEFFA membership currently includes 41 members in 35 states including statewide, regional, county and city bond-issuing authorities.

NAHEFFA recently expanded its membership eligibility and now encourages providers of health or educational services, and associations supporting such service providers, to become affiliate members. A major goal of NAHEFFA is membership from each of the 50 states increasing their already significant voice in Washington, D.C. at a time when access to tax-exempt financing is threatened by various economic and legislative factors. NAHEFFA is represented on a daily basis by a legislative consultant in Washington, D.C. and members participate regularly through interaction with Congress, governmental and industry regulators and various trade groups involved in the tax-exempt markets.

Please consider becoming an affiliate member of this great organization. The annual membership fee is $500. In addition, please consider attending the NAHEFFA annual fall and spring conferences. The NAHEFFA Board and Membership are confident you will find conference attendance and membership in the Association of great benefit to your organization.

For more information on NAHEFFA please visit their web site: www.naheffa.org

ABOUT WHEFA

WHEFA Overview
Benefits of WHEFA
Mission & Vision
Economic Impact Study
Key Dates in WHEFA History
WHEFA Governing Board
WHEFA Staff
General Counsel & Bond Counsel
National Membership
Wisconsin Statute, Ch. 231

CONTACT US

WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY

18000 W. Sarah Lane, Suite 300
Brookfield, WI 53045-5841
262.792.0466

info@whefa.com