2025-11-14T12:03:48-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2024-01-01 010634942 OHIO CAPITAL FINANCE CORPORATION OHIO 6142248446 671 SOUTH HIGH STREET 600 COLUMBUS OH 43206 JENNIFER MULLANEY CHIEF FINANCIAL OFFICER 6142248446 2025-11-14 1 1 ZACHARY SEGAL P01511850 3016529100 2025-11-13 2024 2025-03-06 01:10:19Z JENNIFER MULLANEY 671 SOUTH HIGH STREET 600 COLUMBUS OH 43206 19346452 0 X N/A X 2002 OH 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. 8 0 0 0 0 0 4347345 9181002 6664532 9936804 220063 228646 0 0 11231940 19346452 66588 44030 0 0 0 0 0 0 0 4020547 6489551 4087135 6533581 7144805 12812871 167509154 236927165 88031715 144636855 79477439 92290310 X 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. 0 0 6313177 44030 9938254 SEE SCHEDULE O 6313177 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 OH X JENNIFER MULLANEY 6142248446 671 SOUTH HIGH STREET SUITE 600 COLUMBUS OH 43206 ANDREW TANNER DIRECTOR/ TREASURER 1.00 3.50 X X 0 8965 0 ANGELA MINGO DIRECTOR /CHAIR 1.00 3.50 X X 0 10560 0 DEBBIE WATTS- ROBINSON DIRECTOR 1.00 3.50 X 0 6325 0 DENNIS GUEST OUTGOING DIRECTOR 1.00 3.50 X 0 825 0 GRADY P APPLETON DIRECTOR 1.00 3.50 X 0 8250 0 JEANNE GOLLIHER DIRECTOR/ VICE CHAIR 1.00 3.50 X X 0 7040 0 JEANNE SCHROER DIRECTOR/ SECRETARY 1.00 3.50 X X 0 7040 0 JOHN LEE OUTGOING DIRECTOR 1.00 3.50 X 0 1375 0 KEVIN NOWAK DIRECTOR 1.00 3.50 X 0 4950 0 RICHARD MCQUADY DIRECTOR 1.00 3.50 X 0 8250 0 THOMAS LOOS OUTGOING DIR./TREASURER 1.00 3.50 X X 0 2475 0 CATHERINE CAWTHON CEO 5.00 35.00 X 0 932531 302586 JENNIFER MULLANEY CFO 5.00 35.00 X 0 613321 242775 JOHN HARTRANFT EVP - RISK 5.00 35.00 X 0 584091 255432 JONATHAN WELTY PRESIDENT 30.00 10.00 X 0 647758 264758 LORI CONARD SECRETARY 5.00 35.00 X 0 90981 33283 NANCY L RODGERS OUTGOING SECRETARY 5.00 35.00 X 0 125026 28274 0 3059763 1127108 0 0 1 0 0 1181002 8000000 9181002 INTEREST INCOME - N/R 531390 8810377 8810377 ORIGINATION FEES 531390 472267 472267 SERVICING FEES 531390 472267 472267 RECOVERY OF BAD DEBT 531390 181893 181893 9936804 228646 1450 227196 19346452 9938254 0 227196 X 44030 44030 46140 46140 62870 62870 846056 846056 15451 15451 78 78 3575 3575 31187 31187 11741 11741 4778773 4778773 90483 90483 PROVISION FOR LOANS 581907 581907 MEMBERSHIP FEES 17328 17328 LOAN CLOSING COSTS 1636 1636 TAXES AND FEES 200 200 2126 319 1807 6533581 6313177 220404 0 28817332 26611961 6392 115376 135661806 206618107 1500 3025 3012190 3567312 9934 11384 167509154 236927165 77287 123267 1193874 1141274 86349939 142634164 410615 738150 88031715 144636855 X 69582264 83335177 9895175 8955133 79477439 92290310 167509154 236927165 12812871 0 X 0 1 X 1 1 1 X 7700000 4986177 13250000 4347345 9181002 39464524 3116374 3844217 4711155 6664532 9936804 28273082 10816374 8830394 17961155 11011877 19117806 67737606 625000 165000 1181002 1971002 0 625000 165000 1181002 1971002 65766604 129457 42202 39193 220063 228646 659561 129457 42202 39193 220063 228646 659561 181959 181959 10945831 8872596 18182307 11231940 19346452 68579126 0.95900 0.95140 0.00960 0.01000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: GAIN ON FORGIVENESS - 2022 AMOUNT: $ 181,959. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 ACCRUED INTEREST 738150 738150 X PART X, LINE 2: OCFC IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. OCFC IS SUBJECT TO INCOME TAXES ON REVENUE GENERATED FROM OTHER SOURCES UNRELATED TO ITS EXEMPT PURPOSE; HOWEVER, OCFC DOES NOT HAVE ANY SUCH REVENUE GENERATED DURING THE YEAR ENDED DECEMBER 31, 2024. THEREFORE, NO INCOME TAX PROVISION OR BENEFIT HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER 31, 2024. OCFC IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. CNT FUND, SOUTHSIDE AND HHFII ARE SINGLE-MEMBER LIMITED LIABILITY COMPANIES AND ACCORDINGLY, ARE CONSIDERED DISREGARDED ENTITIES FOR TAX PURPOSES, AND THEIR EARNINGS ARE INCLUDED IN OCFC'S TAX RETURN. OCFC, CNT FUND, SOUTHSIDE AND HHFII DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. INCOME TAX RETURNS FILED BY OCFC, OAHLF I AND PNC FUND ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE FOR OCFC, OAHLF I, AND PNC FUND, TAX YEARS SINCE 2021 REMAIN OPEN. 1 OHIO CAPITAL CORPORATION FOR HOUSING 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 311265570 501(C)(3) 44030 0 PROGRAM SUPPORT 1 0 PART I, LINE 2: GRANTS ARE MONITORED BY PROVIDING ANNUAL REPORTING. THE INTERACTIONS BETWEEN OCFC AND THE GRANTEE ALLOW OCFC TO MAINTAIN AWARENESS REGARDING HOW THE GRANT FUNDS ARE USED. 0 1 0 0 0 0 0 0 0 CATHERINE CAWTHON CEO 0 309300 0 310000 0 313231 0 270450 0 32136 0 1235117 0 220063 JONATHAN WELTY PRESIDENT 0 254651 0 211313 0 181794 0 220575 0 44183 0 912516 0 148383 JENNIFER MULLANEY CFO 0 265849 0 184958 0 162514 0 211388 0 31387 0 856096 0 137725 JOHN HARTRANFT EVP - RISK 0 250196 0 171255 0 162640 0 206794 0 48638 0 839523 0 138407 NANCY L RODGERS OUTGOING SECRETARY 0 86444 0 34913 0 3669 0 20094 0 8180 0 153300 0 0 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 2024: JONATHAN D. WELTY $151,728 JENNIFER MULLANEY $140,830 CATHERINE CAWTHON $225,024 JOHN HARTRANFT $141,527 FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: OHIO CAPITAL FINANCE CORPORATION (OCFC) IS THE LENDING ARM OF OCCH AND A CERTIFIED DEVELOPMENT FINANCIAL INSTITUTION (CDFI). THE OHIO AFFORDABLE HOUSING LOAN FUND ("OAHLF"), FORMED BY OCCH IN 2004 DURING 2020 THE INVESTORS IN THE OAHLF EXTENDED THEIR FUNDING TERM AND INCREASED CAPITAL AVAILABLE FOR LENDING TO $27 MILLION DOLLARS OF FUNDING TO DEPLOY. IN 2012, THE OCFC PNC LOAN FUND WAS FORMED AND HAS AN ADDITIONAL $5 MILLION OF FUNDING AVAILABLE. THESE FUNDS WERE ESTABLISHED TO PROVIDE A FLEXIBLE SOURCE OF CAPITAL TO BE USED BY DEVELOPMENT PARTNERS OF OCCH FOR USE AS: PREDEVELOPMENT FUNDING, ACQUISITION FINANCING AND BRIDGE FINANCING FOR PROJECTS NEARING THE END OF THEIR COMPLIANCE PERIOD. IN 2018 THE $20 MILLION SOUTHSIDE RENAISSANCE FUND WAS CREATED TO ENCOMPASS NEIGHBORHOOD TRANSFORMATION AND PRESERVE NATURALLY OCCURRING AFFORDABLE HOUSING AND PROVIDE FINANCING FOR COMMUNITY DEVELOPMENT PROJECTS. THE FUND IS MADE POSSIBLE WITH LOW-INTEREST LOANS FROM FINANCIAL INSTITUTIONS. THE CINCINNATI NEIGHBORHOOD TRANSFORMATION FUND (CNTF) WAS CREATED IN 2018 WITH $6 MILLION IN FUNDING. THE FUND WILL LEVERAGE CDFI AWARDS RECEIVED, OCFC CAPITAL, AND BANK CAPITAL TO MAKE PRE-DEVELOPMENT, ACQUISITION, BRIDGE, AND PERMANENT LOANS FOR THE DEVELOPMENT OF AFFORDABLE HOUSING. DURING 2021 AND AGAIN IN 2024 THE CNTF EXTENDED ITS FUNDING TERM. THE FUND WILL SEEK TO PROVIDE CAPITAL FOR PROJECTS WITHIN THE CINCINNATI MSA. IN 2023 THE $20.35 MILLION HEALTHY HOMES FUND II WAS CREATED TO MAKE A MORTGAGE LOAN TO PROVIDE FINANCING FOR THE DEVELOPMENT OF AFFORDABLE HOUSING WITHIN THE LINDEN NEIGHBORHOOD OF COLUMBUS, OH AND TO PROVIDE FINANCING FOR THE DEVELOPMENT OF REAL ESTATE THAT WILL BE UTILIZED FOR COMMUNITY AND ECONOMIC DEVELOPMENT PURPOSES THAT WILL RESULT IN THE REMOVAL OF BLIGHT IN COLUMBUS, OH. THE FUND IS MADE POSSIBLE WITH LOW-INTEREST LOANS FROM FINANCIAL INSTITUTIONS, FOUNDATIONS, AND CORPORATIONS. IN 2024 THE COLLECTIVE LOAN FUNDS EXTENDED THIRTY TWO LOANS OF OVER $94.69 MILLION IN PREDEVELOPMENT/ACQUISITION/BRIDGE FINANCING TO OCCH PARTNERS. OCFC WAS CHOSEN TO RECEIVE A CAPITAL MAGNET FUND AWARD FROM THE CDFI FUND IN 2010. THIS $5 MILLION DOLLAR GRANT IS BEING UTILIZED TO LEVERAGE INVESTOR EQUITY IN AFFORDABLE HOUSING TRANSACTIONS FROM 2011 TO 2016 IN AN EFFORT TO DECREASE OVERALL CONSTRUCTION FINANCING COSTS. IN 2016 OCFC RECEIVED AN ADDITIONAL CAPITAL MAGNET FUND AWARD. THIS $4.8 MILLION GRANT WAS COMBINED WITH $17.2 MILLION IN LOANS FROM FINANCIAL INSTITUTIONS TO FURTHER LEVERAGE INVESTOR EQUITY IN AFFORDABLE HOUSING TRANSACTIONS FROM 2017 TO 2021. DURING 2017 OCFC WAS AWARDED ITS THIRD CAPITAL MAGNET FUND AWARD. THE $4.9 MILLION DOLLAR GRANT WILL BE BLENDED WITH FINANCING FROM FINANCIAL INSTITUTIONS TO EXPAND OCFC'S LENDING INTO KENTUCKY, WEST VIRGINIA AND OHIO. IN 2018 OCFC WAS AWARDED ITS FOURTH CAPITAL MAGNET FUND AWARD. THE $6 MILLION DOLLAR GRANT WILL BE BLENDED WITH FINANCING FROM FINANCIAL INSTITUTIONS TO GO TOWARDS PRESERVATION HOUSING LENDING IN KENTUCKY, WEST VIRGINIA AND OHIO. DURING 2019, OCFC WAS AWARDED ITS FIFTH CAPITAL MAGNET FUND AWARD. THIS $7.7 MILLION DOLLAR GRANT WILL PROVIDE PREDEVELOPMENT AND ACQUISITION LOANS FOR LIHTC AND NON-LIHTC AFFORDABLE HOUSING DEVELOPMENTS, AS WELL AS SUPPORT ECONOMIC DEVELOPMENT ACTIVITIES WITHIN OHIO, KENTUCKY AND WEST VIRGINIA. DURING 2021 OCFC WAS AWARDED A $12M DOLLAR CAPITAL MAGNET FUND AWARD. THIS FUNDING WILL BE USED TO CAPITALIZE A REVOLVING LOAN FUND FOR RENTAL AFFORDABLE HOUSING THROUGHOUT OHIO, KENTUCKY AND WEST VIRGINIA. OCFC RECEIVED AN $8M DOLLAR CAPITAL MAGNET FUND AWARD FOR 2024 TO CAPITALIZE A LOAN FUND AND LOAN LOSS RESERVES AND PROVIDE LOAN GUARANTEES FOR PROJECTS LOCATED IN KENTUCKY, OHIO, AND WEST VIRGINIA. SINCE 2005, OCFC HAS RECEIVED AN ADDITIONAL $32.29 MILLION IN CDFI GRANTS AND MATCHING DOLLARS TO FURTHER THEIR MISSION OF PROVIDING A FLEXIBLE SOURCE OF LENDING. IN ADDITION, IN 2012 OCFC BECAME A MEMBER OF THE FEDERAL HOME LOAN BANK OF CINCINNATI (FHLB). OCFC UTILIZES ITS MEMBERSHIP WITH THE FHLB TO LEVERAGE ADDITIONAL FUNDING FOR ITS BORROWERS THROUGH PROGRAMS THAT SERVE LOW TO MODERATE INCOME HOUSEHOLDS. FORM 990, PART VI, SECTION A, LINE 7A OHIO CAPITAL CORPORATION FOR HOUSING, A SECTION 501(C)(3) ORGANIZATION, IS THE SOLE MEMBER OHIO CAPITAL FINANCE CORPORATION AND AS SUCH CAN ELECT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED INTERALLY BY STAFF. IT IS THEN REVIEWED BY THE AUDIT/FINANCE COMMITTEE AND LEGAL COUNSEL. THE AUDIT COMMITTEE RECOMMENDS APPROVAL TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS AND EMPLOYEES ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY AND COMPLETE AN INTEREST DISCLOSURE STATEMENT. AN INTEREST DISCLOSURE STATEMENT MUST ALSO BE COMPLETED AND FILED WHEN SITUATIONS ARISE THAT CAUSE AN ACTUAL, APPARENT OR POTENTIAL CONFLICT OF INTEREST. OHIO CAPITAL FINANCE CORPORATION IS ALLOCATED STAFF TIME BY A RELATED PARTY. ANY KNOWN CONFLICT OF INTEREST IS BROUGHT TO THE ATTENTION OF THE PRESIDENT OF THE RELATED PARTY FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 15 OCFC DOES NOT HAVE THEIR OWN EMPLOYEES, BUT EMPLOYEES PAID BY OCCH ALLOCATE TIME TO OCFC. OCFC WAS CHARGED $790,000 FOR 2024 AS A CONSULTING FEE TO COMPENSATE OCCH FOR STAFF TIME AND OVERHEAD. SURVEYS WERE COMPLETED IN 2022 BY INDUSTRY PEERS. THE CEO DETERMINES THE SALARIES OF OFFICERS AND KEY EMPLOYEES. THE CEO'S SALARY IS DETERMINED BY THE BOARD OF DIRECTORS. A SEPARATE COMPENSATION COMMITTEE WAS FORMED IN 2012. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 846,056. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 846,056. CINCINNATI NEIGHBORHOOD TRANSFORMATION FUND LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 LENDING OH 334365 4959528 OHIO CAPITAL FINANCE CORPORATION SOUTHSIDE RENAISSANCE FUND LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 LENDING OH 572231 18967757 OHIO CAPITAL FINANCE CORPORATION HEALTHY HOME FUND II LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 LENDING OH 169290 7420915 OHIO CAPITAL FINANCE CORPORATION OHIO CAPITAL CORPORATION FOR HOUSING 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 311265570 SYNDICATION OH 501(C)(3) LINE 12B, II N/A 0 COMMUNITY PROPERTIES IMPACT CORPORATION 910 EAST BROAD STREET COLUMBUS OH 43205 311707264 SOCIAL SERVICES OH 501(C)(3) LINE 10 OCCH 0 OHIO CAPITAL IMPACT CORPORATION 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 461632889 SOCIAL SERVICES OH 501(C)(3) LINE 12A, I OCCH 0 OCFC PNC AFFORDABLE HOUSING LOAN FUND 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 455260981 FINANCING OH OCFC RELATED 1249 10175 0 1 0.00100 OHIO AFFORDABLE HOUSING LOAN FUND I LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 201800741 FINANCING OH OCFC RELATED 201 1209 0 1 0.00100 HORIZON HOUSE APARTMENTS LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 270701412 RENT REAL ESTATE OH N/A 0 0 CPO III LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 651170938 RENT REAL ESTATE OH N/A 0 0 NETWORK RESTORATION II LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 200414793 RENT REAL ESTATE OH N/A 0 0 NETWORK RESTORATION III LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 202459957 RENT REAL ESTATE OH N/A 0 0 CPR II LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 200468503 RENT REAL ESTATE OH N/A 0 0 COLUMBUS SCHOLAR HOUSE I LLC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 352451989 RENT REAL ESTATE OH N/A 0 0 AHD INC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 311379710 REAL ESTATE OH N/A C 0 OHIO EQUITY FUND INC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 311285738 REAL ESTATE OH N/A C 0 HORIZON HOUSE APARTMENTS INC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 272589025 REAL ESTATE OH N/A C 0 COMMUNITY PARTNERS FOR AFFORDABLE HSG 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 542096826 REAL ESTATE OH N/A S 0 COLUMBUS SCHOLAR HOUSE INC 671 SOUTH HIGH STREET STE 600 COLUMBUS OH 43206 460741462 REAL ESTATE OH N/A C 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0