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Nonprofiteer
← OHIO COMMUNITY DEVELOPMENT FINANCE FUND

Form 990 for tax year 2022

Filed by OHIO COMMUNITY DEVELOPMENT FINANCE FUND.

Totals

Total revenue
$9,454,085
Total expenses
$4,300,762
Contributions and grants received
$1,735,305
Grants paid
$932,736
Program service revenue
$7,688,119
Investment income
$30,661
Other revenue
$0
Total assets, end of year
$61,485,006
Total liabilities, end of year
$723,533
Net assets or fund balances, end of year
$60,761,473
Program services expenses (Part IX)
$3,416,459
Management and general expenses
$884,303
Fundraising expenses
$0
Program service expenses (Part III)
$3,416,459

Program services were 79.4% 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.

  • 1e · Government grants (contributions)

    $1,735,000

  • 1f · All other contributions, gifts and grants

    $305

  • 2a · Program service revenue: NEW MARKETS TAX CREDIT

    total $3,927,691 · related or exempt $3,927,691

  • 2b · Program service revenue: INVESTMENT INCOME (LOS

    total $2,562,507 · related or exempt $2,562,507

  • 2c · Program service revenue: ASSET MANAGEMENT FEE

    total $600,000 · related or exempt $600,000

  • 2d · Program service revenue: DEVELOPER FEE INCOME

    total $594,088 · related or exempt $594,088

  • 2e · Program service revenue: LOAN INTEREST INCOME

    total $3,833 · related or exempt $3,833

  • 7a · Gross sales of assets other than inventory

    securities $571,013

  • 7b · Less cost or other basis and sales expenses

    securities $540,352

  • 7c · Gain or loss

    securities $30,661

  • 7d · Net gain or loss

    total $30,661 · excluded $30,661

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $932,736 · program services $932,736

  • 5 · Compensation of officers, directors and key employees

    total $1,453,504 · program services $897,504 · management and general $556,000

  • 7 · Other salaries and wages

    total $1,092,059 · program services $1,011,668 · management and general $80,391

  • 9 · Other employee benefits

    total $16,781 · program services $12,586 · management and general $4,195

  • 10 · Payroll taxes

    total $131,201 · program services $98,401 · management and general $32,800

  • 11b · Fees: legal

    total $698 · program services $349 · management and general $349

  • 11c · Fees: accounting

    total $58,550 · program services $29,275 · management and general $29,275

  • 11g · Fees: other

    total $73,702 · program services $36,851 · management and general $36,851

  • 12 · Advertising and promotion

    total $5,429 · management and general $5,429

  • 13 · Office expenses

    total $163,484 · program services $115,007 · management and general $48,477

  • 14 · Information technology

    total $66,428 · program services $37,697 · management and general $28,731

  • 16 · Occupancy

    total $9,000 · management and general $9,000

  • 17 · Travel

    total $46,303 · program services $34,727 · management and general $11,576

  • 19 · Conferences, conventions and meetings

    total $275 · management and general $275

  • 20 · Interest

    total $20,620 · program services $20,620

  • 23 · Insurance

    total $16,626 · management and general $16,626

  • 24a · Other expenses: MISCELLANEOUS

    total $151,994 · program services $151,994

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $33,499 · program services $25,124 · management and general $8,375

  • 24c · Other expenses: EQUIPMENT LEASES

    total $15,534 · management and general $15,534

  • 24d · Other expenses: NMTC EXPENSE

    total $10,675 · program services $10,675

  • 24e · All other expenses

    total $1,664 · program services $1,245 · management and general $419

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,533,700 · end of year $16,525,197

  • 3 · Pledges and grants receivable

    beginning of year $666,250 · end of year $593,375

  • 4 · Accounts receivable

    beginning of year $4,540,997 · end of year $4,204,712

  • 7 · Other notes and loans receivable

    beginning of year $642,504 · end of year $397,875

  • 11 · Investments: publicly traded securities

    beginning of year $6,913,792 · end of year $7,248,724

  • 13 · Investments: program-related

    beginning of year $28,800,795 · end of year $31,095,820

  • 15 · Other assets

    beginning of year $180,804 · end of year $1,419,303

  • 17 · Accounts payable and accrued expenses

    beginning of year $927,390 · end of year $723,533

  • 24 · Unsecured notes and loans payable

    beginning of year $200,000 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $53,701,017 · end of year $59,187,374

  • 28 · Net assets with donor restrictions

    beginning of year $2,450,435 · end of year $1,574,099

Mission and programs · 2022

Mission

FINANCE FUND BUILDS BRIDGES BETWEEN RESOURCES AND THE LOW-INCOME COMMUNITY TO IMPROVE THE QUALITY OF LIFE FOR PEOPLE. THE ORGANIZATION LOCATES FUNDING AND PROVIDES RESOURCES TO SUPPORT ORGANIZATIONS THAT ASSIST LOW AND MODERATE INCOME FAMILIES AND COMMUNITIES.

Activities or mission (Part I)

FINANCE FUND BUILDS BRIDGES BETWEEN RESOURCES AND THE LOW-INCOME COMMUNITY TO IMPROVE THE QUALITY OF LIFE FOR PEOPLE.

  • OHIO COMMUNITY DEVELOPMENT FINANCE FUND (OCDFF) OFFERS A VARIETY OF DIFFERENT PROGRAMS AND SERVICES TO CONNECT NON-PROFITS AND SMALL BUSINESSES TO THE RESOURCES THEY NEED. THESE PROGRAMS INCLUDE CREDIT ENHANCEMENT PROGRAMS, GRANTS, AND URBAN AND RURAL LENDING SEVERAL OF THE CREDIT ENHANCEMENT PROGRAMS INCLUDE THE LINKED DEPOSIT FUND AND THE CHILD CARE CAPITAL FUND. THE LINKED DEPOSIT FUND PROVIDES AFFORDABLE FINANCING FROM LOCAL LENDERS FOR HOUSING AND ECONOMIC PROJECTS REDUCING THE INTEREST RATE ON CONSTRUCTION OR PERMANENT FINANCING. THE CHILD CARE CAPITAL FUND PROVIDES RESOURCES FOR FINANCING REAL ESTATE PROJECTS AVAILABLE TO HEAD START AGENCIES TO REDUCE THE INTEREST RATE ON PERMANENT FINANCING OCDFF ALSO OFFERS PROGRAMS FOR PREDEVELOPMENT GRANTS AND ECONOMIC DEVELOPMENT GRANTS PREDEVELOPMENT GRANTS PROVIDE FUNDING FOR COMMUNITY BASED NON-PROFITS FOR PROJECT "SOFT COSTS" ON HOUSING AND ECONOMIC DEVELOPMENT PROJECTS ECONOMIC DEVELOPMENT GRANTS PROVIDE FUNDING FOR NEIGHBORHOOD COMMERCIAL IMPROVEMENT PROJECTS THAT CREATE PRIVATE-SECTOR JOBS TO STRENGTHEN THE AREA'S ECONOMIC BASE OCDFF ALSO PROVIDES A VARIETY OF DIFFERENT URBAN AND RURAL LENDING PROGRAMS, INCLUDING NEW MARKETS LOANS. NEW MARKETS LOANS PROVIDE CREDIT FOR FIXED ASSETS TO NONPROFIT AND FOR-PROFIT BUSINESS BORROWERS IN QUALIFYING LOW-INCOME CENSUS TRACKS.

    Expenses $3,416,459 · Grants $932,736 · Revenue $7,688,119

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jerry Katz

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ryan Miller

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Phillip Smith

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Mary Burke Rivers

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • D R Gossett

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Carole Grimes

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Greg Kiger

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Randy Runyon

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Thomas Winston

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Brian Heitkamp

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Diana Turoff

    PRESIDENT AND CEO

    Total calculated
    $454,992
    From this org
    $449,992
    From related orgs
    $0
    Other
    $5,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,992
    Bonus
    $172,000
    Other
    $0
    Deferred
    $5,000
    Nontaxable benefits
    $0
    Filer's total
    $454,992

  • Andrew Swary

    EVP, GENERAL COUNSEL

    Total calculated
    $324,744
    From this org
    $319,744
    From related orgs
    $0
    Other
    $5,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,744
    Bonus
    $115,000
    Other
    $0
    Deferred
    $5,000
    Nontaxable benefits
    $0
    Filer's total
    $324,744

  • Matt Frank

    CHIEF FINANCIAL OFFICER

    Total calculated
    $291,512
    From this org
    $286,512
    From related orgs
    $0
    Other
    $5,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,512
    Bonus
    $108,000
    Other
    $0
    Deferred
    $5,000
    Nontaxable benefits
    $0
    Filer's total
    $291,512

  • Jeff Mohrman

    EVP, REAL ESTATE

    Total calculated
    $412,256
    From this org
    $407,256
    From related orgs
    $0
    Other
    $5,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,256
    Bonus
    $171,000
    Other
    $0
    Deferred
    $5,000
    Nontaxable benefits
    $0
    Filer's total
    $412,256

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • FINANCE FUND MANAGEMENT LLC

    MANAGEMENT · OH

    Directly controlled by OH COMMUNITY

  • FFRED HOLDINGS

    HOLDINGS · OH

    Directly controlled by OH COMMUNITY

Provenance

Return type
form_990
Tax year
2022
Filed
31 July 2023
IRS schema version
2022v5.0
Source object
202332129349301238

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