We are a certified Community Development Financial Institution, manage several Small Business Administration (SBA) and U.S. Department of Agriculture (USDA) loan programs, provide venture capital, and are part-owner of a community development bank, started in conjunction with a partner CDC.
We are also one of the largest non-profit developers of affordable housing in Wisconsin, the only state-wide Certified Housing Development Organization (CHDO) in Wisconsin and manage over 1,500 units, most of which we own. Impact Seven has a long history of managing housing projects financed by Rural Development (Formerly FmHA) and the U.S. Department of Housing and Urban Development (HUD). Impact Seven further specializes in the management of Low-Income Housing Tax Credits (LIHTC) projects and Market Rate housing.
As a consultant, lender, investor and developer, we have helped numerous communities make significant strides toward revitalizing distressed housing and diminishing economies. Impact Seven has a number of programs, loan pools, properties, resources, and ideas which may interest you. We take pride in our track record of outcomes and especially those related to projects generally thought to be too complex or challenging to succeed.
Impact Seven, Inc. was founded in 1970 by Wisconsin residents in a seven-county area who were concerned with a waning economy, outmigration of youth, and high poverty. Since then, the organization has grown into a well-established statewide CDC that organizes the resources and capacities of low-income communities to provide affordable housing and employment opportunities for residents. Over our 45-year history, Impact Seven has provided quality, affordable housing for tens of thousands of low-income households throughout the state, assisted thousands of successful business ventures throughout Wisconsin, and created thousands of jobs. Impact Seven’s extensive job creation record is due in large part to the successful receipt and implementation of fifteen CED grant awards in the past twenty years, in diverse projects ranging from manufacturing, to Native American businesses, to assisted living facilities.
Impact Seven builds capacity for communities by providing services and development in business, housing, and property management. With a vision to serve as a trusted partner for develop, building, and maintaining communities, Impact Seven is guided by the belief that local engagement is essential to successful community development. Impact Seven is incorporated as a Wisconsin non-stock corporation and recognized as exempt from taxation under Section 501c (3) of the Internal Revenue Code.
In 2013, Impact Seven had total assets of $102 million, including $44 million in net assets. Impact Seven currently maintains a loan portfolio of $30.6 million, primarily placed in loans for job-creating business development projects. The organization also owns or manages more than 1,400 units of affordable housing throughout the state, most of which it developed.
Impact Seven is a participant in national community and economic development initiatives that are important to meeting its mission:
- Impact Seven is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI), a unique type of nongovernmental entity established to provide credit, financial services, and other development services to underserved markets or populations.
- As a certified Community Housing Development Organization (CHDO) in Milwaukee and for Wisconsin’s “balance of state” communities, Impact Seven is eligible for specially-designated HOME funds to develop affordable housing.
- Impact Seven is one of 235 charter NeighborWorks America member organizations across the country, which provides grants, programmatic support, training and technical assistance for a broad range of community development initiatives.
- Impact Seven is a minority equity owner in Community Development Bank (CDB), owned in conjunction with two other mission-based organizations. CDB is a federally-insured, FHLB member institutions that leverages deposits and earned revenue to make investments in the owners’ community development projects.
- In 2002, Impact Seven became the first New Markets Tax Credits (NMTC) allocatee in the state of Wisconsin, with an initial allocation of $20.6 million. Through its partnership with Wisconsin Housing and Economic Development Authority (WHEDA) and other member institutions in the Greater Wisconsin Opportunity Fund, Impact Seven has brokered the placement of more than $200 million in NMTCs since 2005, with $195 million in tax credit allocation under management.