Ohio Community Development Finance Fund

Nonprofit profile at a glance

EIN
311229532
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Columbus, OH, USA
Phone
6142211114
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Business and Industry

Official website

Reported finances

Revenue
$20,728,998
Expenses
$17,612,857
Assets
$72,870,501
Liabilities
$1,080,027

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • DIANA TUROFF (PRESIDENT AND CEO)

Highest reported compensation

  • DIANA TUROFF (PRESIDENT AND CEO): $595,480 total reported compensation
  • JEFF MOHRMAN (EVP, REAL ESTATE): $538,000 total reported compensation
  • ANDREW SWARY (EVP, GENERAL COUNSEL): $401,584 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Grant-funded. 70% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 84% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 94%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 11.6%; rating input score 12; 8th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 4.14; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 10.9%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 11.9% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 8.3% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 94% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $16.6M in reported program spending
  • Leadership: top reported pay $595K · 14 people listed · 6 of 6 pay-setting controls reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 22 filed money-flow records
  • Related organizations: 21 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Grant itemization coverage scored 12/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.