Overview
What is Ohio Capital Finance Corporation?
The Ohio Capital Finance Corporation is a nonprofit organization that offers financing solutions, including loans, grants, and equity, to support low-income communities in their housing, community development, and economic development projects. By partnering with various organizations, they aim to expand and preserve affordable housing, promote community development, and contribute to a better quality of life for all residents, regardless of their income levels. Ohio Capital Finance Corporation, led by Jennifer Mullaney, strives to ensure these communities remain vibrant and inclusive.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating from Charity Navigator.
Ohio Capital Finance Corporation has received a Three-Star rating, indicating a solid performance in accountability and finance. With an overall score of 79%, this rating primarily reflects the organization's strong financial management practices. The organization scored full points in key areas such as financial statements audit, asset management, and various governance policies, showcasing its commitment to transparency and responsible stewardship of funds.
The nonprofit demonstrates a commendable program expense ratio of 95.95%, highlighting that a significant portion of its expenditures is directed towards its mission-related activities. Additionally, the low liabilities to assets ratio of 45.90% suggests that the organization maintains a healthy balance sheet, which is indicative of its financial stability.
While the organization performs well in accountability and finance, the absence of a more comprehensive score that includes other aspects such as impact or outreach limits a fuller understanding of its effectiveness. Overall, Ohio Capital Finance Corporation appears to operate efficiently and responsibly, but further information on its programmatic outcomes would enhance the overall assessment of its impact on the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Ohio Capital Finance Corporation legitimate?
Ohio Capital Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ohio Capital Finance Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Ohio Capital Finance Corporation?
Ohio Capital Finance Corporation offers financing solutions through loans, grants, and equity to support the development of affordable housing and community projects. Their mission is to advance community development and enable all residents, regardless of income level, to live fulfilling lives. The corporation forms partnerships to expand and preserve affordable housing, ensuring residents contribute to their community. Ohio Capital Finance Corporation's goal is to provide flexible financing products, ultimately enabling the advancement of community development and the improvement of living conditions for low-income communities.
Who is the CEO of Ohio Capital Finance Corporation?
Jennifer Mullaney is the Director / Vice Chair of Ohio Capital Finance Corporation. The CEO's salary of Ohio Capital Finance Corporation is $0 and their total compensation is $14,700.
What is the revenue of Ohio Capital Finance Corporation?
Ohio Capital Finance Corporation's revenue in 2022 was $18,182,307.
Who are the executives of Ohio Capital Finance Corporation and what are their salaries?
Here are 14 key members and their salaries (Ohio Capital Finance Corporation's CEO's salary is $0 and their total compensation is $14,700):
- Compensation: $0
- Related: $14,300
- Other: $0
- Compensation: $0
- Related: $6,000
- Other: $0
- Compensation: $0
- Related: $11,700
- Other: $0
- Compensation: $0
- Related: $7,500
- Other: $0
- Compensation: $0
- Related: $9,000
- Other: $0
- Compensation: $0
- Related: $16,500
- Other: $0
- Compensation: $0
- Related: $10,900
- Other: $0
- Compensation: $0
- Related: $9,800
- Other: $0
- Compensation: $0
- Related: $14,700
- Other: $0
- Compensation: $0
- Related: $9,000
- Other: $0
- Compensation: $0
- Related: $536,226
- Other: $226,356
- Compensation: $0
- Related: $583,328
- Other: $217,091
- Compensation: $0
- Related: $135,164
- Other: $35,673
- Compensation: $0
- Related: $560,039
- Other: $279,166
Where can I find the form 990 for Ohio Capital Finance Corporation?
Ohio Capital Finance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ohio Capital Finance Corporation
Ohio Capital Finance Corporation, a leading organization in financial assistance, is dedicated to providing loans, grants, and equity for the purpose of housing, community development, and economic development in low-income areas. The corporation's ultimate goal is to expand and preserve affordable housing, enhancing community development, and ensuring that all residents, regardless of their income levels, live fulfilling lives and contribute to their community.
Ohio Capital Finance Corporation's mission in action sees it utilizing strategic partnerships to offer flexible financing solutions that cater to the unique needs of low-income communities. By providing these resources, the organization advances community development, making a significant impact on the lives of residents. Jennifer Mullaney leads Ohio Capital Finance Corporation in its mission to create opportunities for growth and improvement in economically disadvantaged neighborhoods.
In achieving its mission, Ohio Capital Finance Corporation plays a crucial role in fostering a vibrant and inclusive community for all residents. Through its financing efforts, the organization not only helps create affordable housing but also enables community infrastructure development, spurring economic growth and opportunities for residents. As a result, Ohio Capital Finance Corporation's initiatives contribute to breaking the cycle of poverty, enabling residents to live satisfying lives and contribute meaningfully to their community.
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Impact
August, 2024
Ohio Capital Finance Corporation's impact lies in its provision of financing in the form of loans, grants, and equity to assist low-income communities with housing, community development, and economic development. Through partnerships, the corporation works towards expanding and preserving affordable housing to advance community development. This ensures that all residents, regardless of income, are able to live satisfying lives and contribute to their community. Jennifer Mullaney leads the efforts of Ohio Capital Finance Corporation in Columbus, OH.
This information is meant to be a general summary of Ohio Capital Finance Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $39,193
- Program Service Revenue: $4,711,155
- Gross Receipts: $18,182,307
Assets and Liabilities:
- Total Assets: $134,549,482
- Total Liabilities: $61,763,332
- Net Assets: $72,786,150
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME - N/R
Revenue
$3,648,500
ORIGINATION FEES
Revenue
$431,772
SERVICING FEES
Revenue
$431,772
RECOVERY OF BAD DEBT
Revenue
$199,111
Organization Details
Founding Year
2002
Phone
(614) 224-8446Principal Officer
Jennifer Mullaney
Main Address
88 EAST BROAD STREET 1800, COLUMBUS, OH, 43215
NTEE Category
Code: S31 - Community improvement
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