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Nonprofiteer
← OHIO CAPITAL FINANCE CORPORATION

Form 990 for tax year 2023

Filed by OHIO CAPITAL FINANCE CORPORATION.

Totals

Total revenue
$11,231,940
Total expenses
$4,087,135
Contributions and grants received
$4,347,345
Grants paid
$66,588
Program service revenue
$6,664,532
Investment income
$220,063
Other revenue
$0
Total assets, end of year
$167,509,154
Total liabilities, end of year
$88,031,715
Net assets or fund balances, end of year
$79,477,439
Program services expenses (Part IX)
$3,848,474
Management and general expenses
$238,661
Fundraising expenses
$0
Program service expenses (Part III)
$3,848,474

Program services were 94.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $665,000

  • 1e · Government grants (contributions)

    $3,532,345

  • 1f · All other contributions, gifts and grants

    $150,000

  • 2a · Program service revenue: INTEREST INCOME - N/R

    total $5,700,336 · related or exempt $5,700,336

  • 2b · Program service revenue: ORIGINATION FEES

    total $448,804 · related or exempt $448,804

  • 2c · Program service revenue: SERVICING FEES

    total $448,804 · related or exempt $448,804

  • 2d · Program service revenue: RECOVERY OF BAD DEBT

    total $66,588 · related or exempt $66,588

  • 3 · Investment income

    total $220,063 · related or exempt $1,076 · excluded $218,987

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $66,588 · program services $66,588

  • 11b · Fees: legal

    total $45,964 · management and general $45,964

  • 11c · Fees: accounting

    total $52,560 · management and general $52,560

  • 11g · Fees: other

    total $814,300 · program services $814,300

  • 12 · Advertising and promotion

    total $27,272 · management and general $27,272

  • 13 · Office expenses

    total $40 · management and general $40

  • 14 · Information technology

    total $3,025 · management and general $3,025

  • 17 · Travel

    total $15,918 · program services $15,918

  • 19 · Conferences, conventions and meetings

    total $10,023 · program services $10,023

  • 20 · Interest

    total $2,338,599 · program services $2,338,599

  • 23 · Insurance

    total $108,898 · management and general $108,898

  • 24a · Other expenses: PROVISION FOR LOANS

    total $468,625 · program services $468,625

  • 24b · Other expenses: GRANT RELATED ACTIVITIE

    total $106,320 · program services $106,320

  • 24c · Other expenses: MEMBERSHIP FEES

    total $18,925 · program services $18,925

  • 24d · Other expenses: LOAN CLOSING COSTS

    total $8,718 · program services $8,718

  • 24e · All other expenses

    total $1,360 · program services $458 · management and general $902

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $29,552,791 · end of year $28,817,332

  • 4 · Accounts receivable

    beginning of year $46,677 · end of year $6,392

  • 7 · Other notes and loans receivable

    beginning of year $101,879,010 · end of year $135,661,806

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,025 · end of year $1,500

  • 12 · Investments: other securities

    beginning of year $3,059,121 · end of year $3,012,190

  • 13 · Investments: program-related

    beginning of year $8,858 · end of year $9,934

  • 17 · Accounts payable and accrued expenses

    beginning of year $76,019 · end of year $77,287

  • 19 · Deferred revenue

    beginning of year $1,510,053 · end of year $1,193,874

  • 23 · Secured mortgages and notes payable

    beginning of year $59,803,481 · end of year $86,349,939

  • 25 · Other liabilities

    beginning of year $373,779 · end of year $410,615

  • 27 · Net assets without donor restrictions

    beginning of year $57,554,931 · end of year $69,582,264

  • 28 · Net assets with donor restrictions

    beginning of year $15,231,219 · end of year $9,895,175

Mission and programs · 2023

Mission

OHIO CAPITAL FINANCE CORPORATION PROVIDES FLEXIBLE FINANCING PRODUCTS AND UTILIZES PARTNERSHIPS FOR THE EXPANSION AND PRESERVATION OF AFFORABLE HOUSING TO ADVANCE COMMUNITY DEVELOPMENT WHILE ENSURING THAT ALL RESIDENTS REGARDLESS OF INCOME LIVE SATISFYING LIVES AND CONTRIBUTE TO THEIR COMMUNITY.

Activities or mission (Part I)

PROVIDE FINANCING IN THE FORM OF LOANS, GRANTS, AND EQUITY FOR PURPOSES OF PROVIDING HOUSING, COMMUNITY DEVELOPMENT, AND ECONOMIC DEVELOPMENT TO ASSIST LOW-INCOME COMMUNITIES.

  • SEE SCHEDULE O

    Expenses $3,848,474 · Grants $66,588 · Revenue $6,665,608

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Angela Mingo

    DIRECTOR /CHAIR

    Total calculated
    $17,490
    From this org
    $0
    From related orgs
    $17,490
    Other
    $0
    Hours/week
    1 + 2 related

  • Dennis Guest

    DIRECTOR

    Total calculated
    $4,950
    From this org
    $0
    From related orgs
    $4,950
    Other
    $0
    Hours/week
    0.5 + 4 related

  • Grady P Appleton

    DIRECTOR

    Total calculated
    $8,250
    From this org
    $0
    From related orgs
    $8,250
    Other
    $0
    Hours/week
    0.5 + 4 related

  • Harold D Keller

    OUTGOING DIRECTOR

    Total calculated
    $2,750
    From this org
    $0
    From related orgs
    $2,750
    Other
    $0
    Hours/week
    0.5 + 2.5 related

  • Jeanne Golliher

    DIRECTOR/SECRETARY

    Total calculated
    $13,120
    From this org
    $0
    From related orgs
    $13,120
    Other
    $0
    Hours/week
    0.5 + 4 related

  • Jeanne Schroer

    DIRECTOR

    Total calculated
    $13,310
    From this org
    $0
    From related orgs
    $13,310
    Other
    $0
    Hours/week
    0.5 + 4 related

  • John Lee

    DIRECTOR

    Total calculated
    $8,250
    From this org
    $0
    From related orgs
    $8,250
    Other
    $0
    Hours/week
    0.5 + 4 related

  • Kevin Nowak

    DIRECTOR

    Total calculated
    $2,475
    From this org
    $0
    From related orgs
    $2,475
    Other
    $0
    Hours/week
    0.5 + 4 related

  • Richard McQuady

    DIRECTOR

    Total calculated
    $8,250
    From this org
    $0
    From related orgs
    $8,250
    Other
    $0
    Hours/week
    0.5 + 4 related

  • Susan E Weaver

    OUTGOING DIRECTOR /VICE-CHAIR

    Total calculated
    $8,305
    From this org
    $0
    From related orgs
    $8,305
    Other
    $0
    Hours/week
    0.5 + 4 related

  • Thomas Loos

    DIRECTOR/TREASURER

    Total calculated
    $14,520
    From this org
    $0
    From related orgs
    $14,520
    Other
    $0
    Hours/week
    0.5 + 4 related

  • Catherine Cawthon

    CEO

    Total calculated
    $977,174
    From this org
    $0
    From related orgs
    $691,567
    Other
    $285,607
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $297,450 related
    Bonus
    $0 + $290,000 related
    Other
    $0 + $104,117 related
    Deferred
    $0 + $255,800 related
    Nontaxable benefits
    $0 + $29,807 related
    Filer's total
    $0 + $977,174 related

  • Jennifer Mullaney

    CFO

    Total calculated
    $834,746
    From this org
    $0
    From related orgs
    $604,096
    Other
    $230,650
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $259,685 related
    Bonus
    $0 + $195,188 related
    Other
    $0 + $149,223 related
    Deferred
    $0 + $202,425 related
    Nontaxable benefits
    $0 + $28,225 related
    Filer's total
    $0 + $834,746 related

  • Jonathan Welty

    PRESIDENT

    Total calculated
    $868,905
    From this org
    $0
    From related orgs
    $633,361
    Other
    $235,544
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,754 related
    Bonus
    $0 + $207,813 related
    Other
    $0 + $167,794 related
    Deferred
    $0 + $205,925 related
    Nontaxable benefits
    $0 + $29,619 related
    Filer's total
    $0 + $868,905 related

  • Nancy L Rodgers

    SECRETARY

    Total calculated
    $177,132
    From this org
    $0
    From related orgs
    $139,913
    Other
    $37,219
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $103,266 related
    Bonus
    $0 + $32,323 related
    Other
    $0 + $4,324 related
    Deferred
    $0 + $22,389 related
    Nontaxable benefits
    $0 + $14,830 related
    Filer's total
    $0 + $177,132 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE PRESIDENT OF THE ORGANIZATION IS DETERMINED BY THE PRESIDENT OF A RELATED TAX-EXEMPT ENTITY. THE RELATED ENTITY HAS A COMPENSATION COMMITTEE THAT REVIEWS COMPENSATION LEVELS OF OFFICERS AND KEY EMPLOYEES.
PART I, LINE 4B
AMOUNTS RECEIVED FROM A NONQUALIFIED PLAN IN 2023: JONATHAN D. WELTY $140,778 JENNIFER MULLANEY $ 128,751 CATHERINE CAWTHON $97,408

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CINCINNATI NEIGHBORHOOD TRANSFORMATION FUND LLC

    LENDING · OH · income $239,706 · assets $4,186,494

    Directly controlled by OHIO CAPITAL FINANCE CORPORATION

  • SOUTHSIDE RENAISSANCE FUND LLC

    LENDING · OH · income $495,627 · assets $15,375,484

    Directly controlled by OHIO CAPITAL FINANCE CORPORATION

  • OCFC CAPITAL MAGNET LOAN POOL LLC

    LENDING · OH · income $1,226 · assets $0

    Directly controlled by OHIO CAPITAL FINANCE CORPORATION

  • HEALTHY HOME FUND II LLC

    LENDING · OH · income $48,821 · assets $4,178,163

    Directly controlled by OHIO CAPITAL FINANCE CORPORATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • OCFC PNC AFFORDABLE HOUSING LOAN FUND

    RELATED · FINANCING · OH · 0.1% owned · share of income $146 · share of assets $13,658 · general or managing partner

    Directly controlled by OCFC

  • OHIO AFFORDABLE HOUSING LOAN FUND I LLC

    RELATED · FINANCING · OH · 0.1% owned · share of income $930 · share of assets $8,926 · general or managing partner

    Directly controlled by OCFC

  • HORIZON HOUSE APARTMENTS LLC

    RENT REAL ESTATE · OH

  • CPO III LLC

    RENT REAL ESTATE · OH

  • NETWORK RESTORATION II LLC

    RENT REAL ESTATE · OH

  • NETWORK RESTORATION III LLC

    RENT REAL ESTATE · OH

  • CPR II LLC

    RENT REAL ESTATE · OH

  • COLUMBUS SCHOLAR HOUSE I LLC

    RENT REAL ESTATE · OH

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • AHD INC

    C · REAL ESTATE · OH

  • OHIO EQUITY FUND INC

    C · REAL ESTATE · OH

  • HORIZON HOUSE APARTMENTS INC

    C · REAL ESTATE · OH

  • COMMUNITY PARTNERS FOR AFFORDABLE HSG

    S · REAL ESTATE · OH

  • COLUMBUS SCHOLAR HOUSE INC

    C · REAL ESTATE · OH

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349317641

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