Ohio Community Development Finance Fund

Tax-deductible

Columbus, OH501(c)(3)Since 1987Community DevelopmentEIN 31-1229532Revenue $20.7M in FY2024

On file with the IRSfinancefund.org366 E Broad St Ste 101, 43215-4486 · Columbus, OHTax-exempt since Mar 1988Publicly supported charity — 170(b)(1)(A)(vi)

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Finance Fund builds bridges between resources and the low-income Community to improve the quality of life for people.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 11 volunteers and 15 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $5.7M a year · 43% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.9M
to officers and key staff · 11% of spending
Top officer’s pay higher than 84% of similar orgs
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
13 mo
of spending, in cash
Looks good: 13.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$20.7M
+22% vs prior year
Spent
$17.6M
To programs
94%
Net assets
$71.8M
By yearFY2020–FY2024
Revenue
$20.7M
FY2024▲ +22%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.4M
FY2021$7.7M
FY2022$9.5M
FY2023$16.9M
FY2024$20.7M
Expenses
$17.6M
FY2024▲ +149%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.2M
FY2021$4.3M
FY2022$4.3M
FY2023$7.1M
FY2024$17.6M
Net assets
$71.8M
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$52.1M
FY2021$56.2M
FY2022$60.8M
FY2023$70.0M
FY2024$71.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1988.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $16.6M Management & general 6% · $1.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation
President and CEO
$590,480Pt VII · Sec A
EVP, Real Estate
$533,000Pt VII · Sec A
EVP, General Counsel
$396,584Pt VII · Sec A
Chief Financial Officer
$373,568Pt VII · Sec A
Board of Directors
$0Pt VII · Sec A
Board of Directors
$0Pt VII · Sec A
Board of Directors
$0Pt VII · Sec A
$0Pt VII · Sec A

Diana Turoff’s $590K as President and CEO is at the 84th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Diana Turoff$590,480$496,888$449,992$399,504$330,016
Jeff Mohrman$533,000$452,094$407,256$350,000$315,000
Andrew Swary$396,584$326,992$319,744$285,500$270,008
Matt Frank$373,568$293,440$286,512$260,516$240,008

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ohio Community Development Finance Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects low-income communities with resources to improve their quality of life.

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Provided by the organization

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1 program · $16.6M · in their own filed words · FY2024
01

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…

$16.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$11
Grants paid · 121 grants · $7.0M · 2020–2024
The Refugee ResponseOH · FY2024$146,500
Franklinton RisingOH · FY2024$100,000
Medina Creative Housing INCOH · FY2024$100,000
Solon Community Living INCOH · FY2024$100,000
Cleveland Print Room INCOH · FY2024$75,000
Medina Creative Housing INCOH · FY2024$50,000
Yellow Springs Home INCOH · FY2024$50,000
Franklinton RisingOH · FY2024$31,500
Franklinton GardensOH · FY2024$15,000
Solon Community Living INCOH · FY2024$12,667
See all 121 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$20.7M
Ln 12
Gifts and grantsLn 1h$14.4M
Fees for servicesLn 2g$6.3M
Investment incomeLn 3$60K
Money outPt IX
$17.6M
Ln 25
Programscol B$16.6M
Managementcol C$1.1M
Owns and owesPt X
$71.8M
net assets · Ln 32
Cash and savingsLn 1–2$19.2M
Total assetsLn 16$72.9M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
14
listed · VII A
PaidVII A4
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14.4M
Government grantsLn 1e$14.4M
Fees for servicesLn 2g$6.3M
Investment incomeLn 3$60K
Gains on assetsLn 7$3K
Total revenueLn 12$20.7M
Assets in detailPt X, end of year
CashLn 1$19.2M
Cash and savings togetherLn 1–2$19.2M
InvestmentsLn 11–13$43.3M
Other assetsLn 15$1.3M
Total assetsLn 16$72.9M
LiabilitiesLn 26$1.1M
Net assetsLn 32$71.8M
OperationsPt I, VI
EmployeesI 515
VolunteersI 611
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$17.4M$19.2M
InvestmentsLn 11–13$45.1M$43.3M
Total assetsLn 16$72.3M$72.9M
LiabilitiesLn 26$2.3M$1.1M
Net assetsLn 32$70.0M$71.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$13.9M$13.9M
Pay of current officers, directors and key staffLn 5$1.9M$1.4M$473K
Other salaries and wagesLn 7$1.0M$781K$260K
Pension plan contributionsLn 8$44K$33K$11K
Other employee benefitsLn 9$19K$14K$5K
Payroll taxesLn 10$186K$139K$46K
Legal feesLn 11b$53K$26K$26K
Accounting feesLn 11c$68K$34K$34K
Other fees for servicesLn 11g$76K$38K$38K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$101K$73K$28K
Information technologyLn 14$43K$21K$21K
OccupancyLn 16$68K$68K
TravelLn 17$39K$29K$10K
Conferences, conventions and meetingsLn 19$4K$100$3K
InterestLn 20$9K$9K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$52K$36K$15K
Total functional expensesLn 25$17.6M$16.6M$1.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $20.7M$17.6M$3.1M$71.8M 990 PDF
FY2023 $16.9M$7.1M$9.8M$70.0M 990 PDF
FY2022 $9.5M$4.3M$5.2M$60.8M 990 PDF
FY2021 $7.7M$4.3M$3.4M$56.2M 990 PDF
FY2020 $11.4M$4.2M$7.2M$52.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $20,728,998 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,735,000$14,406,000
I-9 Program service revenuePrior year $15,089,623$6,263,362
I-10 Investment incomePrior year $97,662$59,636
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $16,922,285$20,728,998
I-13 Grants and similar amounts paidPrior year $2,630,710$13,903,013
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,861,479$3,182,698
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $594,031$527,146
I-18 Total expensesPrior year $7,086,220$17,612,857
I-19 Revenue less expensesPrior year $9,836,065$3,116,141
Part VI · Governance 10 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $20,728,998 across 6 lines filed
VIII-1e Government grants$14,406,000
VIII-1h Total contributions, gifts and grants$14,406,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,263,362$6,263,362
VIII-3 Investment incomeExcluded from tax $56,921$56,921
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,715$2,715
VIII-12 Total revenueRelated to mission $6,263,362 · Unrelated business $0 · Excluded from tax $59,636$20,728,998
Part IX · Statement of functional expenses $17,612,857 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $13,903,013$13,903,013
IX-5 Pay of current officers, directors and key staffPrograms $1,420,223 · Management $473,409$1,893,632
IX-7 Other salaries and wagesPrograms $780,595 · Management $260,198$1,040,793
IX-8 Pension plan contributionsPrograms $32,835 · Management $10,945$43,780
IX-9 Other employee benefitsPrograms $13,963 · Management $4,654$18,617
IX-10 Payroll taxesPrograms $139,407 · Management $46,469$185,876
IX-11b Legal feesPrograms $26,378 · Management $26,377$52,755
IX-11c Accounting feesPrograms $34,050 · Management $34,050$68,100
IX-11g Other fees for servicesPrograms $37,981 · Management $37,981$75,962
IX-12 Advertising and promotionManagement $1,250$1,250
IX-13 Office expensesPrograms $73,388 · Management $27,574$100,962
IX-14 Information technologyPrograms $21,342 · Management $21,341$42,683
IX-16 OccupancyManagement $67,894$67,894
IX-17 TravelPrograms $29,054 · Management $9,685$38,739
IX-19 Conferences, conventions and meetingsPrograms $100 · Management $3,439$3,539
IX-20 InterestPrograms $9,187$9,187
IX-23 InsuranceManagement $14,407$14,407
IX-24 Other expenses (24a–d)Programs $36,200 · Management $15,468$51,668
IX-25 Total functional expensesPrograms $16,557,716 · Management $1,055,141 · Fundraising $0$17,612,857
Part X · Balance sheet $72,870,501 assets, 13 lines filed
Asset lines not itemized here account for $442,421; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $17,404,616$19,152,458
X-4 Accounts receivableStart of year $4,554,953$8,620,861
X-11 Publicly traded securitiesStart of year $4,558,192$3,060,389
X-13 Program-related investmentsStart of year $40,507,121$40,280,833
X-15 Other assetsStart of year $4,787,408$1,313,539
X-16 Total assetsStart of year $72,269,615$72,870,501
X-17 Accounts payable and accrued expensesStart of year $2,259,000$946,610
X-25 Other liabilitiesStart of year $0$133,417
X-26 Total liabilitiesStart of year $2,259,000$1,080,027
X-27 Net assets without donor restrictionsStart of year $69,205,101$71,190,474
X-28 Net assets with donor restrictionsStart of year $805,514$600,000
X-32 Total net assets or fund balancesStart of year $70,010,615$71,790,474
X-33 Total liabilities and net assetsStart of year $72,269,615$72,870,501
Part XI · Reconciliation of net assets $71,790,474 net assets at year end
XI-1 Total revenue$20,728,998
XI-2 Total expenses$17,612,857
XI-3 Revenue less expenses$3,116,141
XI-4 Net assets at start of year$70,010,615
XI-5 Net unrealized gains (losses) on investments$483,367
XI-9 Other changes in net assets−$1,819,649
XI-10 Net assets at end of year$71,790,474

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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