Accounting Services Clients

Summary: Partnership accounting staff are experienced in all aspects of nonprofit accounting. In addition, creating systems for our development program has made us proficient in development accounting for lower-income housing projects. We offer these services on a contractual basis to other nonprofits, equity investment partnerships, loan funds and others.

Wisconsin Partnership's role: Consultant

Staff contact: Lisa Kratz

Status of work: Ongoing

Following are descriptions of the accounting work we have done for our own projects and for some of our clients.

Limited Liability Corporations - Ongoing

Partnership staff handle accounting for the Limited Liability Corporations associated with our in-house development projects. These have included Coachyard Square, a 23-unit condo project, and The Uplands, a subdivision including a 40-unit tax credit rental project and 103 homes for sale. Services include monthly financial statements, tracking of cost of goods sold and construction in progress, and draw requests to title companies and funding sources.

Housing Partnership Corporation - Ongoing

The Housing Partnership Corporation was a revolving loan fund launched by the Partnership. The fund was formed by 17 private lending institutions, a public utility and the City of Milwaukee, and it fund made over $22 million in loans to produce over 1,100 units of housing for lower-income households. Because some loans remain on the books, Partnership staff continue to prepare monthly financial statements for the HPC.

Housing Equity Fund, Inc. - Ongoing

The Housing Equity Fund is a tax credit equity fund, launched by the Partnership, through which 20 private investors committed over $17 million to tax credit projects in Milwaukee. Partnership staff secure annual investment capital contributions for the fund, make annual payments to bridge loan lenders and prepare monthly financial statements.

Racine Housing and Neighborhood Partnership - 1999-2006

Partnership staff provided comprehensive accounting services for the Racine Housing and Neighborhood Partnership. Work included accounts payable, accounts receivable, monthly financial statements and tax return preparation, as well as development accounting for the RHNP’s new construction and rehabilitation projects.