Sturgeon Bay, WI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)WORKFORCE HOUSING LENDING CORPORATION, founded in 2022, is a small nonprofit in the Housing & Shelter sector that reported $302K in total revenue in fiscal year 2025. Revenue surged 278% from the prior year, signaling strong growth momentum. The organization ran a surplus of $231K, a strong 76% operating margin.
To offer financing and other tools to increase the construction, availability, and accessibility of affordable workforce housing specifically in Door County, Wisconsin and generally throughout all of Northeast Wisconsin.
The organization was newly established in 2022 and since inception has focused on building its board of directors and technical committees, securing funding, and staffing lending operations...
The organization was newly established in 2022 and since inception has focused on building its board of directors and technical committees, securing funding, and staffing lending operations. Workforce Housing Lending Corporation's (WHLC) primary funding agreement has been executed with the Wisconsin Housing and Economic Development Authority (WHEDA) to fund $1.5 million in loans from WHLC programs. WHEDA's participation loan requires a dollar-for-dollar match for each loan funded by WHLC, so the board is working with the local foundation to raise matching dollars. In 2025, WHLC closed on a their first loan with a developer that developed eight (8) new housing units in Sturgeon Bay. The developer purchased a mixed use building with an established business at street level and a vacant upstairs, which was completely remodeled to add eight (8) housing units. The $250,000 loan from WHLC helped make this nearly $1.2 million project a reality. We are consistently working with developers to deploy our unique financing tools to bring more housing projects to Door County and advance workforce housing development in the region and have two promising projects in the pipeline currently.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2025 | 2024 | Change | |
|---|---|---|---|
| Revenue | $302,250 | $80,000 | +2.8% |
| Expenses | $71,558 | $57,687 | +0.2% |
| Net Income | $230,692 | $22,313 | +9.3% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Noel Halvorsen | President & CEO | 2 |
Officer
|
$0 | $0 | $190,773 |
| Bret Bicoy | Board Chair | 2 |
Officer
Director
|
$0 | $0 | $0 |
| Roger Johnson | Board Secretary | 1 |
Officer
Director
|
$0 | $0 | $0 |
| John Herlache | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Denis Hogan | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Jeff Lutsey | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Steve O'Hearn | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Steve Kase | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Kaaren Northrop | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Gail Enke | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Tim Treml | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Chris Boland | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Deby Dehn | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Kathryn Sieman | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $302,250 | $71,558 | $762,340 | $230,692 |
| 2024 | $80,000 | $57,687 | $580,139 | $22,313 |
| 2023 | $250 | $63 | $500,187 | $187 |
Compare WORKFORCE HOUSING LENDING CORPORATION with other nonprofits in Wisconsin and across the country.