Dear Partners,
As I reflect on 2022, I am pleased to share that it was another successful year for Ohio Capital Corporation for Housing (OCCH) and our partners. Together, we have continued our mission of advancing the preservation, production, and management of affordable housing through collaborative partnership and innovative thought leadership.
Highlights of the year include:
• We raised $447M in investor capital and invested $437M in 44 new projects.
• We celebrated $1 billion in investments with our partner, Huntington Bank, further solidifying their commitment to housing within the communities we serve.
• In its 20th year of work, our affiliate, Ohio Capital Finance Corporation (OCFC) closed over $146M in loans and received $12M from the CDFI Fund’s Capital Magnet Fund Program.
• Our property management affiliate, CPO Management, celebrated 20 years of service to our residents, and managed 2,500 affordable units throughout the state of Ohio.
• In partnership with our impact investors, Ohio Community Impact Corporation (OCIC), granted nearly $2.3M in funds to support youth summer camps, scholarships, and other partner and resident focused initiatives.
• Culturally, we made great strides around Diversity, Equity, and Inclusion (DEI) by completing three all staff trainings on topics such as Unconscious Bias, Allyship, and Understanding the Legacy of Racism and Discriminatory Practices in Community Development – further ensuring OCCH is a diverse, equitable, and inclusive place to work and partner with.
• We grew our leadership team with the addition of an Executive Vice President of Corporate Strategy, who will lead the strategic planning process for OCCH.
• Our training platform, the Affordable Housing Training Academy (AHTA), now offers over 250 courses representing over 180 hours of training content.
These accomplishments would not be possible without the dedication of our staff, trust from our development and investment partners, and support from public housing authorities, and local, state, and federal government legislators.
As we continue our important work into 2023 and beyond, we recognize the challenges facing our industry. Rising interest rates, economic uncertainty, and volatility within the banking community, paired with potential CRA reform have made this a particularly challenging time for all. However, we believe that this is our time to rise to the occasion – to advocate for policies that move housing forward, remain diligent with our investors’ capital, and to be a conduit of resources to our developers as we navigate the ever-evolving environment. This is our time to collectively re-commit to housing, and the value it brings not only to our residents, but our communities and regions.
Thank you to the OCCH team for their contributions throughout the year, our Board of Directors for their expertise and guidance, and our investors and developers for their trust and partnership. I look forward to another successful year and to continue doing the vital work of ensuring housing is accessible to all.
In partnership,
Catherine Cawthon
President & CEO
OCCH is comprised of independent strategists, working together to support each other and our mission, through collaboration with our partners. Our results driven team of experts, provides stability, and expertise to our partners.
Commitment to Diversity, Equity & Inclusion
OCCH is committed to being an employer that welcomes all people, and we strive to be a place of inclusion and belonging. We seek to understand and embrace the rich and diverse backgrounds that make us each unique – our passions, cultures, perspectives, identities, and challenges.
We believe different thoughts, opinions, and life experiences do not just benefit our teams; they lead to greater innovation and better outcomes for our partners and the communities we serve. Beyond our vision of creating a world where stable, affordable housing is available to all, we aim to challenge biases; and we stand in solidarity with our employees and communities to address and eliminate injustices.
We are intentional about cultivating diversity, equity and inclusion in our workplace and partnerships, and we have a dedicated team focused on transforming the way we do business - through representation, education, allyship, and opportunity.
Departments:
President and CEO
Executive Vice President, Asset Management and Operations
Executive Vice President, Legal Services & General Counsel
President and CEO, Community Properties of Ohio
Executive Vice President of Development
Chief Financial Officer
Executive Vice President, Capital Markets
Executive Vice President, Corporate Strategy
Executive Vice President of OCCH, President of Ohio Capital Finance Corporation
Asset Manager
Administrative Assistant
Software Engineer
LMS Platform Manager & Senior e-Learning Developer
Asset Manager
Construction Manager
Client Relationship Manager
Manager of IT
Systems Administrator
Senior Asset Manager
Director of Construction Management
Vice President, Asset Management
Senior Compliance Specialist
Construction Coordinator
Director of Operations, Communications and Events
Senior Vice President, Director of Asset Management
Compliance Coordinator
Construction Administrative Assistant
Asset Manager
Asset Manager
Software Engineer
Communications Manager
Director of Compliance and Training
Asset Manager
Manager of Corporate Events and Conferences
Vice President, Dispositions
Vice President, Asset Management
Senior Asset Manager
Investor Relations Officer
Senior Vice President of Capital Markets
Vice President, Development
Vice President, Development
Project Specialist
Director of Grants
Director of Development Services & OCIC
Vice President, Development
Accounts Receivable Specialist
Fund Accountant
Accounts Payable Specialist
Treasury Manager
Fund Accounting Manager
Vice President, Corporate Accounting
Corporate Accountant
Equity Specialist
Fund Accounting Analyst
Fund Accountant
Reserve Specialist
Corporate Accounting Manager
Director of Human Resources
Human Resources Generalist
Payroll/Employee Benefits Manager and Executive Administrator to the Board
Closing Attorney
Director of Grants and CDFI Compliance, OCFC
Closing Officer
Vice President, OCFC
Operations/Portfolio Administrator, OCFC
Underwriting Analyst
Underwriting Analyst
Underwriting Analyst
Underwriting Analyst
Director of Underwriting
Underwriting Analyst
OCCH is governed by a team of respected and diverse community leaders, dedicated to advancing affordable housing through healthy, vibrant communities, and strong supportive services. As community leaders in housing, finance, business, and real estate, our Board supports and advocates the OCCH mission while providing visionary direction and oversight.
In 2022, OCCH’s Board of Directors included the following members:
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board
Unrestricted Cash38,722,380 41,414,630
Restricted Cash27,789,067 29,053,152
Accounts Receivable (net of allowance)13,448,201 11,073,745
Office Furniture and Equipment (net of accumulated depreciation)57,151 714,695
Other Assets1,127,703 1,440,063
Investment in Operating Entities72,110,401 85,527,103
Total$153,254,903 $169,223,388
Unrestricted Cash
2022:41,414,630
2021:38,722,380
Restricted Cash
2022:29,053,152
2021:27,789,067
Accounts Receivable (net of allowance)
2022:11,073,745
2021:13,448,201
Office Furniture and Equipment (net of accumulated depreciation)
2022:714,695
2021:57,151
Other Assets
2022:1,440,063
2021:1,127,703
Investment in Operating Entities
2022:85,527,103
2021:72,110,401
Total
2022:$169,223,388
2021:$153,254,903
Accounts Payable2,818,336 1,379,731
Other Accrued Expenses and Liabilities5,114,177 6,840,966
Deferred Income15,457,732 15,699,196
Project Partnership Cash Reserves1,154,862 987,566
Mortgage and Other Notes Payable16,299 15,299
Grants Payable 47,013 -
$24,608,419 $24,922,758
NET ASSETS$128,646,484 $144,300,630
Total$153,254,903 $169,223,388
Accounts Payable
1,379,731
2,818,336
Other Accrued Expenses and Liabilities
6,840,966
5,114,177
Deferred Income
15,699,196
15,457,732
Project Partnership Cash Reserves
987,566
1,154,862
Mortgage and Other Notes Payable
15,299
16,299
Grants Payable
-
47,013
$24,922,758
$24,608,419
NET ASSETS
$144,300,630
$128,646,484
Total
$169,223,388
$153,254,903
Acquisition and Consulting Fees22,506,786 22,354,402
Other5,162,594 5,602,020
Total$27,669,380 $27,956,422
Acquisition and Consulting Fees
2022:22,354,402
2021:22,506,786
Other
2022:5,602,020
2021:5,162,594
Total
2022:$27,956,422
2021:$27,669,380
Program Services22,160,045 22,122,703
General and Administrative3,593,780 3,601,370
Loss (Gain) from Investments in Affiliated Entities(3,708,542)(13,421,797)
Total$22,045,283 $12,302,276
Change in Net Assets$5,624,097 $15,654,146
Program Services
22,122,703
22,160,045
General and Administrative
3,601,370
3,593,780
Loss (Gain) from Investments in Affiliated Entities
(13,421,797)
(3,708,542)
Total
$12,302,276
$22,045,283
Change in Net Assets
$15,654,146
$5,624,097