2024-09-05T10:02:18-05:00 2023-12-31 341310124 REA & ASSOCIATES INC 5400 FRANTZ RD SUITE 200 DUBLIN OH 43016 990 2023-01-01 311229532 OHIO COMMUNITY DEVELOPMENT FINANCE FUND OHIO 6142211114 366 E BROAD ST 101 COLUMBUS OH 43215 MATT FRANK CFO 6142211114 2024-09-03 1 1 M KATHERINE BROWN CPA P01439473 6148898725 2024-09-03 2023 2024-08-08 14:25:15Z MATT FRANK 366 E BROAD ST 101 COLUMBUS OH 43215 25165400 0 X WWW.FINANCEFUND.ORG X 1987 OH FINANCE FUND BUILDS BRIDGES BETWEEN RESOURCES AND THE LOW-INCOME COMMUNITY TO IMPROVE THE QUALITY OF LIFE FOR PEOPLE. 10 10 19 10 0 0 1735305 1735000 7688119 15089623 30661 97662 0 0 9454085 16922285 932736 2630710 0 0 2693545 3861479 0 0 0 674481 594031 4300762 7086220 5153323 9836065 61485006 72269615 723533 2259000 60761473 70010615 X 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. 0 0 6127714 2630710 15089623 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. 6127714 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 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 1 0 0 0 1 5 0 1 19 1 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X X MATT FRANK 6142211114 366 E BROAD ST STE 101 COLUMBUS OH 43215 JERRY KATZ CHAIR 1.00 X X 0 0 0 RYAN MILLER VICE CHAIR 1.00 X X 0 0 0 PHILLIP SMITH TREASURER 1.00 X X 0 0 0 MARY BURKE RIVERS BOARD OF DIRECTORS 1.00 X 0 0 0 D R GOSSETT BOARD OF DIRECTORS 1.00 X 0 0 0 SAMANTHA SHAFER BOARD OF DIRECTORS 1.00 X 0 0 0 GREG KIGER SECRETARY 1.00 X X 0 0 0 RANDY RUNYON BOARD OF DIRECTORS 1.00 X 0 0 0 THOMAS WINSTON BOARD OF DIRECTORS 1.00 X 0 0 0 BRIAN HEITKAMP BOARD OF DIRECTORS 1.00 X 0 0 0 DIANA TUROFF PRESIDENT AND CEO 40.00 X 496888 0 5000 ANDREW SWARY EVP, GENERAL COUNSEL 40.00 X 326992 0 5000 MATT FRANK CHIEF FINANCIAL OFFICER 40.00 X 293440 0 5000 JEFF MOHRMAN EVP, REAL ESTATE 40.00 X 452094 0 5000 1569414 0 20000 4 0 1 0 0 1735000 1735000 INCOME/LOSS ON SUBSIDIARIES 525990 9027648 9027648 NMTC INCOME 525990 4156415 4156415 FCAP ASSET MGMT FEE 561499 1200000 1200000 DEVELOPER FEE 525990 644128 644128 INTEREST INCOME- MISC 525990 56169 56169 5263 5263 15089623 8340777 8243115 97662 97662 97662 16922285 15089623 0 97662 2630710 2630710 1569414 942414 627000 2090331 2037998 52333 25775 19331 6444 175959 131969 43990 700 350 350 68020 34010 34010 49018 24509 24509 7633 7633 171427 121378 50049 48788 41623 7165 28247 28247 66733 50050 16683 23641 23641 9187 9187 14280 14280 NMTC EXPENSE 62600 62600 DUES & SUBSCRIPTIONS 27436 20577 6859 EQUIPMENT LEASE 14978 14978 POSTAGE 1343 1008 335 7086220 6127714 958506 0 16525197 17404616 593375 4204712 4554953 397875 457325 7248724 4558192 31095820 40507121 1419303 4787408 61485006 72269615 723533 2259000 723533 2259000 X 59187374 69205101 1574099 805514 60761473 70010615 61485006 72269615 X 9836065 181705 -768628 X X 0 1 X 1 0 X 3735025 2260315 1450205 1735000 1735000 10915545 3735025 2260315 1450205 1735000 1735000 10915545 10915545 10915545 45876068 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 CLOSELY-HELD EQUITY INTEREST 40507121 C 40507121 OTHER ASSETS 4787408 4787408 X 16335362 181705 -768628 -586923 16922285 0 16922285 7086220 0 7086220 0 7086220 PART X, LINE 2: GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE FINANCE FUND TO EVALUATE THE LEVEL OF UNCERTAINTY RELATED TO WHETHER TAX POSITIONS TAKEN WILL BE SUSTAINED UPON EXAMINATION. ANY POSITIONS TAKEN THAT DO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD MUST BE QUANTIFIED AND RECORDED AS A LIABILITY FOR UNRECOGNIZED TAX BENEFITS IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. MANAGEMENT BELIEVES THAT NONE OF THE TAX POSITIONS TAKEN WOULD MATERIALLY IMPACT THE FINANCIAL STATEMENTS AND NO SUCH LIABILITIES HAVE BEEN RECORDED. PART XI, LINE 2D - OTHER ADJUSTMENTS: EQUITY METHOD INVESTMENT -606,558. INVESTMENT IN SUBSIDIARY -162,070. 1 CHN PARTNERSHIP DEVELOPMENT 2999 PAYNE AVENUE SUITE 134 CLEVELAND OH 44114 341346763 501(C)(3) 100000 0 ECONOMIC DEVELOPMENT ELEVATE NORTHLAND 4848 EVANSWOOD DR COLUMBUS OH 43229 833257270 501(C)(3) 50000 0 ECONOMIC DEVELOPMENT HOMEFULL 2621 DRYDEN RD SUITE 302 MORAINE OH 45439 311236989 501(C)(3) 50000 0 ECONOMIC DEVELOPMENT HOMES ON THE HILL CDC 3659 SOLDANO BOULEVARD COLUMBUS OH 43228 311349995 501(C)(3) 62250 0 ECONOMIC DEVELOPMENT IRONTON LAWRENCE CO CAO 305 NORTH 5TH STREET IRONTON OH 45638 310714190 501(C)(3) 100000 0 ECONOMIC DEVELOPMENT MEDINA CREATIVE HOUSING 232 N COURT STREET MEDINA OH 44256 341712565 501(C)(3) 150000 0 ECONOMIC DEVELOPMENT MUSKINGUM BEHAVIORAL HEALTH 1127 WEST MAIN STREET ZANESVILLE OH 43701 311012162 501(C)(3) 11007 0 ECONOMIC DEVELOPMENT NEAR WESTSIDE MULTI SERVICE CE 4115 BRIDGE AVE CLEVELAND OH 44115 237061949 501(C)(3) 100000 0 ECONOMIC DEVELOPMENT NEO HISPANIC CENTER FOR ECONOM 2511 CLARK AVE CLEVELAND OH 44109 341805510 501(C)(3) 75000 0 ECONOMIC DEVELOPMENT THE ABCD INC 1225 GROSS AVE CANTON OH 44705 237362592 501(C)(3) 75000 0 ECONOMIC DEVELOPMENT WELLNESS CENTER (EXTENDED HOUS 270 E MAIN ST SUITE 300 PAINESVILLE OH 44077 341400918 501(C)(3) 50000 0 ECONOMIC DEVELOPMENT YOUNGSTOWN NEIGHBORHOOD DEVELO 820 CANFIELD ROAD YOUNGSTOWN OH 44511 264117989 501(C)(3) 75000 0 ECONOMIC DEVELOPMENT ZORA'S HOUSE 1311 SUMMIT STREET COLUMBUS OH 43201 842107847 501(C)(3) 44000 0 ECONOMIC DEVELOPMENT CINCINNATI UNION BETHEL DBA HE 2401 READING ROAD CINCINNATI OH 45202 310536655 501(C)(3) 30000 0 PREDEVELOPMENT CITYWIDE NEIGHBORHOOD DEVELOPM 8 NORTH MAIN STREET DAYTON OH 45402 310885010 501(C)(3) 11511 0 PREDEVELOPMENT COMMUNITY ACTION ORGANIZATION PO BOX 1525 PORTSMOUTH OH 45662 310718622 501(C)(3) 30000 0 PREDEVELOPMENT DETROIT SHOREWAY COMMUNITY DEV 6516 DETROIT AVENUE SUITE 1 CLEVELAND OH 44102 237376130 501(C)(3) 30000 0 PREDEVELOPMENT EDEN OPERATING ACCOUNT 7812 MADISON AVE CLEVELAND OH 44102 341667990 501(C)(3) 6700 0 PREDEVELOPMENT FAMICOS FOUNDATION INC 1325 ANSEL ROAD CLEVELAND OH 44103 341053534 501(C)(3) 30000 0 PREDEVELOPMENT HER STORY INC PO BOX 212 XENIA OH 45385 811009951 501(C)(3) 50000 0 PREDEVELOPMENT JOSEPH HOUSE INC 1526 REPUBLIC ST CINCINNATI OH 45202 311383835 501(C)(3) 30000 0 PREDEVELOPMENT JURISDICTION-WIDE RESIDENT ADV 7162 READING ROAD SUITE 330 CINCINNATI OH 45237 204351820 501(C)(3) 16492 0 PREDEVELOPMENT MIDTOWN CLEVELAND INC 5000 EUCLID AVE SUITE 100 CLEVELAND OH 44103 341381334 501(C)(3) 50000 0 PREDEVELOPMENT NEIGHBORHOOD HOUSING SERVICES 704 SECOND STREET TOLEDO OH 43611 341230687 501(C)(3) 50000 0 PREDEVELOPMENT NEW HOME DEVELOPMENT 617 N WALNUT 12 BRYAN OH 43506 341674869 501(C)(3) 30000 0 PREDEVELOPMENT NEW HOUSING OHIO 4055 EXECUTIVE PARK DRIVE CINCINNATI OH 45241 311435217 501(C)(3) 30000 0 PREDEVELOPMENT NEW VILLAGE CORPORATION 11327 SHAKER BLVD 500W CLEVELAND OH 44104 341653986 501(C)(3) 30000 0 PREDEVELOPMENT NORTH HILL COMMUNITY DEVELOPME 760 ELMA ST AKRON OH 44310 821696531 501(C)(3) 23700 0 PREDEVELOPMENT SECOND BAPTIST CHURCH OF THE C 186 N 17TH STREET COLUMBUS OH 43203 316401785 501(C)(3) 24495 0 PREDEVELOPMENT SOLON COMMUNITY LIVING INC 3790 RIDGECLIFF DR SOLON OH 44139 833861819 501(C)(3) 40000 0 PREDEVELOPMENT SQUARE ONE GJM 49 OLIVE ST GALLIPOIS OH 45631 843113347 501(C)(3) 18600 0 PREDEVELOPMENT ST MARY DEVELOPMENT CORP 2160 E 5TH ST DAYTON OH 45403 311275208 501(C)(3) 25500 0 PREDEVELOPMENT UNION MILES DEVELOPMENT CORP 9250 MILES PARK AVENUE CLEVELAND OH 44105 341336972 501(C)(3) 22455 0 PREDEVELOPMENT YELLOW SPRINGS HOME INC PO BOX 503 YELLOW SPRINGS OH 45387 311656193 501(C)(3) 30000 0 PREDEVELOPMENT FINANCE FUND CAPITAL CORPORATION 366 EAST BROAD STREET SUITE 101 COLUMBUS OH 43215 743033288 501(C)(3) 1074000 0 OTHER 36 PART I, LINE 2: FINANCE FUND CHOOSES SEVERAL PROJECTS TO BE VISITED PERIODICALLY AS PART OF A COMPREHENSIVE MONITORING STRATEGY. FINANCE FUND MONITORS ALL OTHER GRANTEES BY REVIEWING THEIR PROGESS THROUGH FINANCIAL REPORTS, EXIT INTERVIEWS, ANNUAL AUDITS, CREDIT REPORTS, ANNUAL MONITORING LETTERS FOR LOANS AND OTHER OFFICE BASED PROCEDURES. X X X X X X 0 0 0 0 0 0 0 0 0 DIANA TUROFF PRESIDENT AND CEO 291888 0 205000 0 0 0 5000 0 0 0 501888 0 0 0 JEFF MOHRMAN EVP, REAL ESTATE 248094 0 204000 0 0 0 5000 0 0 0 457094 0 0 0 ANDREW SWARY EVP, GENERAL COUNSEL 214992 0 112000 0 0 0 5000 0 0 0 331992 0 0 0 MATT FRANK CHIEF FINANCIAL OFFICER 187440 0 106000 0 0 0 5000 0 0 0 298440 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF FORM 990 IS REVIEWED AND APPROVED BY THE AUDIT AND FINANCE COMMITTEES, AS WELL AS THE CHIEF FINANCIAL OFFICER, PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS, STAFF, AND VOLUNTEERS ARE UNDER A CONTINUING OBLIGATION TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST AS SOON AS IT IS KNOWN, OR REASONABLY SHOULD BE KNOWN. CONFLICT-OF- INTEREST DISCLOSURE STATEMENTS ARE COMPLETED ON AN ANNUAL BASIS (EVERY JANUARY) BY ALL BOARD MEMBERS, STAFF, AND VOLUNTEERS. ANY CHANGES WHICH OCCUR DURING THE YEAR ARE REPORTED THROUGH AN UPDATED STATEMENT. FOR BOARD MEMBERS, THE DISCLOSURE STATEMENTS ARE PROVIDED TO THE CHAIR OF THE BOARD, OR IN THE CASE OF THE CHAIR'S DISCLOSURE STATEMENT IS PROVIDED TO THE SECRETARY OF THE BOARD COPIES ARE ALSO PROVIDED TO THE CHIEF EXECUTIVE OFFICER. IN THE CASE OF STAFF OR VOLUNTEERS, THE DISCLOSURE STATEMENTS ARE PROVIDED TO THE CHIEF EXECUTIVE OFFICER OR IN THE CASE OF THE CEO'S DISCLOSURE STATEMENT IS PROVIDED TO THE CHAIR OF THE BOARD. WHENEVER THERE IS REASON TO BELIEVE THAT AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST EXISTS BETWEEN FINANCE FUND AND AN INTERESTED PARTY, THE BOARD OF DIRECTORS DETERMINES THE APPROPRIATE ORGANIZATIONAL RESPONSE. THIS INCLUDES INVOKING THE PROCEDURES DESCRIBED IN THE CONFLICT OF INTEREST POLICY. WHERE THE ACTUAL OR POTENTIAL CONFLICT INVOLVES AN EMPLOYEE OR VOLUNTEER OF THE ORGANIZATION OTHER THAN THE CEO, THE CEO WILL REVIEW THE MATTER AND TAKE APPROPRIATE ACTION AS NECESSARY TO PROTECT THE INTERESTS OF THE ORGANIZATION. THE CEO REPORTS TO THE CHAIR OF THE BOARD THE RESULTS OF ANY REVIEW AND THE ACTION TAKEN. THE CHAIR, IN CONSULTATION WITH THE EXECUTIVE COMMITTEE, SHALL DETERMINE IF ANY FURTHER BOARD REVIEW OR ACTION IS REQUIRED. THE SECRETARY OF THE BOARD OF DIRECTORS FILES COPIES OF ALL DISCLOSURE STATEMENTS WITH THE OFFICIAL CORPORATE RECORDS OF THE ORGANIZATION. DIRECTOR STATEMENTS ARE KEPT WITH BOARD RECORDS, AND STAFF AND VOLUNTEER STATEMENTS ARE KEPT IN PERSONNEL FILES. ALL CORPORATE POLICIES INCLUDING THE CONFLICT OF INTEREST POLICY ARE WRITTEN AND MADE AVAILABLE TO ALL BOARD, STAFF, AND VOLUNTEERS IN AN EMPLOYEE HANDBOOK OR BOARD HANDBOOK. ALL BOARD, STAFF, AND VOLUNTEERS SIGN STATEMENTS TO AFFIRM THAT THEY HAVE READ SUCH POLICES AND UNDERSTAND THEM. ALL CORPORATE POLICIES ARE REVIEWED ON AN ANNUAL BASIS BY KEY STAFF. RECOMMENDATIONS FOR POLICY CHANGES ARE BROUGHT BEFORE THE BOARD FOR REVIEW AND APPROVAL. POLICY CHANGES ARE COMMUNICATED TO BOARD, STAFF, AND VOLUNTEERS. THE EXECUTIVE COMMITTEE IS CHARGED WITH THE RESPONSIBILITY TO REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY REVIEWING ANNUAL STATEMENT AND TAKING SUCH OTHER ACTIONS AS ARE NECESSARY FOR EFFECTIVE OVERSIGHT. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT COMPANY PERFORMS A COMPENSATION STUDY EVERY THREE YEARS AND DETERMINES A RANGE OF PAY FOR EACH POSITION. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY METHOD INVESTMENT -606,558. INVESTMENT IN SUBSIDIARY -162,070. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS PROCESS FROM PRIOR YEARS. FINANCE FUND MANAGEMENT LLC 366 E BROAD ST STE 101 COLUMBUS OH 43215 562396552 MANAGEMENT OH OH COMMUNITY FFRED HOLDINGS 366 E BROAD ST STE 101 COLUMBUS OH 43215 831135225 HOLDINGS OH OH COMMUNITY FINANCE FUND CONSTRUCTION LLC 366 E BROAD ST STE 101 COLUMBUS OH 43215 920933166 CONSTRUCTION OH 359620 2278745 OH COMMUNITY FINANCE FUND CAPITAL CORPORATION 366 E BROAD ST STE 101 COLUMBUS OH 43215 743033288 LENDING OH 501(C)(3) 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 FINANCE FUND CAPITAL CORPORATION L 1200000 CASH-FMV FINANCE FUND CAPITAL CORPORATION B 1074000 CASH-FMV