A Letter from the President and CEO

Dear Partners,

2023 was another year of accomplishments and transition, not only at Ohio Capital Corporation for Housing, but throughout our industry. When I reflect on the year, I have a keen appreciation for the agility both our internal teams and external partners were able to demonstrate. This ability to welcome new ideas while evolving with the landscape of our industry has allowed us to continue our mission of advancing the preservation, production, and management of affordable housing.

Highlights of the year include:
• We raised $263M in investor capital and invested $260.8M in 26 developments.

• Our lending affiliate, Ohio Capital Finance Corporation (OCFC) closed over $116M in loans and closed $50M in the Linden Healthy Homes Fund II.

• Our property management affiliate, CPO, deployed over $69,000 in resident emergency funds, linked 408 residents with the resources needed to stabilize their housing, while managing a portfolio of over 1,000 rental units.

• In partnership with our impact investors, Ohio Community Impact Corporation (OCIC), enabled over 900 youths to attend summer camps and awarded over $65,000 in scholarships funds via the Jerry Grier Scholarship Program.

• We made great strides around Diversity, Equity, and Inclusion (DEI) including a $50,000 grant to the Corporation for Supportive Housing for BIPOC Developer Barrier research and development, a $30,000 grant to the Affordable Housing Alliance of Central Ohio for their BIPOC Homeownership Assistance Fund, a $5,000 grant to the Ohio Women's Affordable Housing Network for their Scholarship Fund for Professional Development, and a $50,000 grant to Fifth Third Bank CDC for their Black Developer Initiative in Cincinnati.

• We welcomed two new members to the leadership team, Mary Ann Lang, EVP of Capital Markets, and Jeff Beam, EVP of Development. Together, Mary Ann and Jeff represent decades of affordable housing experience and have already made tremendous progress in building our investor and development pipelines.

• Our training platform, the Affordable Housing Training Academy (AHTA), now offers 280+ courses representing over 210 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.

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 of continuing the vital work of ensuring housing is accessible to all.

In partnership,

Catherine Cawthon
President & CEO

Our Team

OCCH is comprised of affordable housing experts committed to our mission of advancing the preservation and production of affordable housing.

Senior Leadership

Catherine Cawthon

President and CEO

Jeff Beam

Executive Vice President of Development

Tony DiBlasi

Executive Vice President, Asset Management and Operations

Jay Hartranft, Esq.

Executive Vice President, Legal Services & General Counsel

Chad Ketler

President and CEO, Community Properties of Ohio

Mary Ann Lang

Executive Vice President of Capital Markets

Jennifer Mullaney, CPA

Chief Financial Officer

Marcus Vivona

Executive Vice President, Corporate Strategy

Jonathan Welty

Executive Vice President of OCCH, President of Ohio Capital Finance Corporation

AHTA

Tony DiBlasi

Executive Vice President, Asset Management and Operations

Raymond (Buddy) Butler

LMS Platform Manager & Senior e-Learning Developer

Susan Goss

Client Relationship Manager

Melanie Shapiro

Director of Compliance and Training

Asset Management

Tony DiBlasi

Executive Vice President, Asset Management and Operations

Christy Abdella

Asset Manager

Mike Dant, CPA

Senior Asset Manager

Joe Erdeljac

Construction Manager

Michael Evans

Asset Manager

Brittany Haddan

Asset Manager

Chris Ledwin

Vice President, Asset Management

Kip Lewis

Director of Construction Management

Royce Lewis

Vice President, Asset Management

Tina Limo

Senior Compliance Specialist

Kevin Malpass

Construction Coordinator

Sam Merkle

Senior Vice President, Director of Asset Management

Amber Moody

Compliance Coordinator

Isabella Moreno

Construction Administrative Assistant

Kate Perron

Asset Manager

Janice Rausch

Asset Manager

Will Shelby

Asset Manager

Wolfgang Teran

Vice President, Dispositions

Anthony Tynan

Vice President, Asset Management

Brian Yates

Asset Manager

Capital Markets

Mary Ann Lang

Executive Vice President of Capital Markets

Danielle Carman

Investor Relations Officer

Javier De La Rocha

Senior Analyst

Eric Klipfer

Senior Vice President of Capital Markets

Ken Scheuer

Vice President, Capital Markets

Corporate Strategy

Marcus Vivona

Executive Vice President, Corporate Strategy

Development

Jeff Beam

Executive Vice President of Development

Pleurat Dreshaj, Esq.

Vice President, Development

Sameer Gupta

Vice President, Development

Elizabeth Long

Vice President, Development

Annie Ross

Senior Vice President, Development

Finance

Jennifer Mullaney, CPA

Chief Financial Officer

Sharon Anderson

Accounts Receivable Specialist

Frank Boggs

Fund Manager

Betzi Cable

Accounts Payable Specialist

Lori Conrad

Treasury Manager

Jake Heady

Director of Fund Management

Casey Hinkle, CPA

Vice President, Corporate Accounting

Tim Prince

Corporate Accountant

Tamara Samuel

Equity Specialist

Mariama Sheriff, CPA

Fund Accounting Analyst

Blake Steenrod, CPA

Fund Manager

Tamara Thelen

Reserve Specialist

Scott Wemer

Corporate Accounting Manager

Human Resources

Joyce Perry

Vice President, Human Resources

Raymara Reeves

Human Resources Generalist

Nancy Rodgers

Payroll/Employee Benefits Manager and Executive Administrator to the Board

IT

Tony DiBlasi

Executive Vice President, Asset Management and Operations

Bryan Bates

Software Engineer

Granville Harris

Manager of IT

Mike Hennessee

Systems Administrator

Michael Robeson

Software Engineer

Jay Hartranft, Esq.

Executive Vice President, Legal Services & General Counsel

Carrie Mayer

Closing Attorney

OCFC

Jonathan Welty

Executive Vice President of OCCH, President of Ohio Capital Finance Corporation

Diane Alecusan

Director of Grants and CDFI Compliance, OCFC

Ashley Castricone

Closing Officer

Aaron Murphy

Vice President, OCFC

Ryan Schmitt

Underwriting Officer

Jodi Stickel

Operations/Portfolio Administrator, OCFC

OCIC

Tiffany Patterson

Director of Grants

Operations Communications and Events

Tony DiBlasi

Executive Vice President, Asset Management and Operations

Sharon Alban

Administrative Assistant

Niecca Gordon

Front Desk Assistant

Myah Lisath

Administrative Specialist

Hilary Marshall

Director of Operations, Communications and Events

Kayla Robinson

Communications Manager

Rhonda Snyder

Manager of Corporate Events and Conferences

Underwriting

Mary Ann Lang

Executive Vice President of Capital Markets

Keith Foster

Underwriter

Eric Klipfer

Senior Vice President of Capital Markets

Greg Kramarius

Underwriter

Anya Kulcsar

Underwriter

Keith Wilbur

Underwriter

Board of Directors

OCCH is governed by a team of respected and diverse community leaders, dedicated to advancing affordable housing. As community leaders in housing, finance, business, and real estate, the Board supports and advocates the OCCH mission while providing visionary direction and oversight.

In 2023, OCCH’s Board of Directors included the following members:

Grady P. Appleton

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

Jeanne Golliher, Secretary

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

Dennis S. Guest

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

John Lee

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

Thomas T. Loos, Treasurer

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

Richard L. McQuady

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

Angela Mingo, Chair

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

Kevin Nowak

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

Jeanne Schroer

Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board

OCCH Financials

Statement of Financial Position

Assets20222023

Unrestricted Cash41,414,630 49,485,874

Restricted Cash29,053,152 27,362,670

Accounts Receivable (net of allowance)11,508,738 6,566,184

Office Furniture and Equipment (net of accumulated depreciation)687,134 714,695

Other Assets1,000,069 1,175,004

Investment in Operating Entities86,953,860 93,497,444

Total$170,617,583 $178,801,871

Statement of Financial Position

Assets

Unrestricted Cash

2023:49,485,874

2022:41,414,630

Restricted Cash

2023:27,362,670

2022:29,053,152

Accounts Receivable (net of allowance)

2023:6,566,184

2022:11,508,738

Office Furniture and Equipment (net of accumulated depreciation)

2023:714,695

2022:687,134

Other Assets

2023:1,175,004

2022:1,000,069

Investment in Operating Entities

2023:93,497,444

2022:86,953,860

Total

2023:$178,801,871

2022:$170,617,583

Liabilities and Net Assets

Accounts Payable1,779,032 1,243,070

Other Accrued Expenses and Liabilities6,617,297 7,524,135

Deferred Income15,903,366 15,909,618

Project Partnership Cash Reserves987,566 652,087

Mortgage and Other Notes Payable15,299 -

Grants Payable- -

$25,302,560 $25,328,910

NET ASSETS$145,315,023 $153,472,961

Total$170,617,583 $178,801,871

Liabilities and Net Assets

Accounts Payable

1,243,070

1,779,032

Other Accrued Expenses and Liabilities

7,524,135

6,617,297

Deferred Income

15,909,618

15,903,366

Project Partnership Cash Reserves

652,087

987,566

Mortgage and Other Notes Payable

-

15,299

Grants Payable

-

-

$25,328,910

$25,302,560

NET ASSETS

$153,472,961

$145,315,023

Total

$178,801,871

$170,617,583

Statement of Activities (December 31, 2023 - unaudited, 2022 - audited)

Revenues2023

Acquisition and Consulting Fees24,744,827

Other3,078,593

Total$27,823,420

Statement of Activities (December 31, 2023 - unaudited, 2022 - audited)

Revenues

Acquisition and Consulting Fees

2023:24,744,827

Other

2023:3,078,593

Total

2023:$27,823,420

Expenses

Program Services22,404,135

General and Administrative3,647,185

Loss (Gain) from Investments in Affiliated Entities(6,579,504)

Total$19,471,816

Change in Net Assets$8,351,604

Expenses

Program Services

22,404,135

General and Administrative

3,647,185

Loss (Gain) from Investments in Affiliated Entities

(6,579,504)

Total

$19,471,816

Change in Net Assets

$8,351,604