Ohio Community Development Finance Fund
- Assets
- $72.3m
- Revenue
- $16.9m
- Investments
- $0.0
- Employees
- 19
- Location
- Columbus, OH
- Founding
- 03/1988
- Data as of
- 12/2023
- EIN
- 31-1229532
Organization Overview
Ohio Community Development Finance Fund is located in Columbus, OH. The organization was established in 1988. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Ohio Community Development Finance Fund employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ohio Community Development Finance Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Ohio Community Development Finance Fund generated $16.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $7.1m during the year ending 12/2023. While expenses have increased by 3.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ohio Community Development Finance Fund has awarded 244 individual grants totaling $10,847,346. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FINANCE FUND BUILDS BRIDGES BETWEEN RESOURCES AND THE LOW-INCOME COMMUNITY TO IMPROVE THE QUALITY OF LIFE FOR PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Katz Chair | OfficerTrustee | 1 | $0 |
Ryan Miller Vice Chair | OfficerTrustee | 1 | $0 |
Phillip Smith Treasurer | OfficerTrustee | 1 | $0 |
Mary Burke Rivers Board Of Directors | Trustee | 1 | $0 |
D R Gossett Board Of Directors | Trustee | 1 | $0 |
Samantha Shafer Board Of Directors | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,735,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,735,000 |
| Total Program Service Revenue | $15,089,623 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $97,662 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,922,285 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,630,710 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,569,414 |
| Compensation of current officers, directors, key employees. | $627,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,090,331 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,775 |
| Payroll taxes | $175,959 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $700 |
| Fees for services: Accounting | $68,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,018 |
| Advertising and promotion | $7,633 |
| Office expenses | $171,427 |
| Information technology | $48,788 |
| Royalties | $0 |
| Occupancy | $28,247 |
| Travel | $66,733 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,641 |
| Interest | $9,187 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,280 |
| All other expenses | $0 |
| Total functional expenses | $7,086,220 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,404,616 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,554,953 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $457,325 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,558,192 |
| Investments—other securities | $0 |
| Investments—program-related | $40,507,121 |
| Intangible assets | $0 |
| Other assets | $4,787,408 |
| Total assets | $72,269,615 |
| Accounts payable and accrued expenses | $2,259,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,259,000 |
| Net assets without donor restrictions | $69,205,101 |
| Net assets with donor restrictions | $805,514 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $72,269,615 |
Grants Awarded
Over the last fiscal year, Ohio Community Development Finance Fund has awarded $2,625,710 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
CHN PARTNERSHIP DEVELOPMENT PURPOSE: ECONOMIC DEVELOPMENT | $100,000 |
ELEVATE NORTHLAND PURPOSE: ECONOMIC DEVELOPMENT | $50,000 |
HOMEFULL PURPOSE: ECONOMIC DEVELOPMENT | $50,000 |
HOMES ON THE HILL CDC PURPOSE: ECONOMIC DEVELOPMENT | $62,250 |
IRONTON LAWRENCE CO CAO PURPOSE: ECONOMIC DEVELOPMENT | $100,000 |
MEDINA CREATIVE HOUSING PURPOSE: ECONOMIC DEVELOPMENT | $150,000 |