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Ohio Capital Finance Corporation

EIN 01-0634942 · Columbus, OH

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood85 out of 100GovernanceGood75 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$19.3 million
Spending
$6.5 million
Spent on programs
97%
Reserves
Over 10 years of spending
Largest source of income
fees for its services, 51%
Employees
0
Volunteers
0
Highest pay
$1.2 million, ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 85 out of 100. Higher than 75% of charities in its peer group (community improvement, $10m to $100m).

  • Reserves

    35 of 35

    Spendable reserves would cover more than ten years of spending.

  • Debt

    5 of 20

    It owes 61% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 66% of income.

  • Income trend

    15 of 15

    Income rose 72% on the year before.

  • Spending floor

    15 of 15

    97% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 75 out of 100. Higher than 8% of charities in its peer group (community improvement, $10m to $100m).

  • Independent board

    5 of 25

    0 of 8 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $6.3 million spent. 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.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since August 2003.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.