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
OCCH is comprised of affordable housing experts committed to our mission of advancing the preservation and production of affordable housing.
Departments:
President and CEO
Executive Vice President of Development
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 Capital Markets
Chief Financial Officer
Executive Vice President, Corporate Strategy
Executive Vice President of OCCH, President of Ohio Capital Finance Corporation
Executive Vice President, Asset Management and Operations
LMS Platform Manager & Senior e-Learning Developer
Client Relationship Manager
Director of Compliance and Training
Executive Vice President, Asset Management and Operations
Asset Manager
Senior Asset Manager
Construction Manager
Asset Manager
Asset Manager
Vice President, Asset Management
Director of Construction Management
Vice President, Asset Management
Senior Compliance Specialist
Construction Coordinator
Senior Vice President, Director of Asset Management
Compliance Coordinator
Construction Administrative Assistant
Asset Manager
Asset Manager
Asset Manager
Vice President, Dispositions
Vice President, Asset Management
Asset Manager
Executive Vice President of Capital Markets
Investor Relations Officer
Senior Analyst
Senior Vice President of Capital Markets
Vice President, Capital Markets
Executive Vice President, Corporate Strategy
Executive Vice President of Development
Vice President, Development
Vice President, Development
Vice President, Development
Senior Vice President, Development
Chief Financial Officer
Accounts Receivable Specialist
Fund Manager
Accounts Payable Specialist
Treasury Manager
Director of Fund Management
Vice President, Corporate Accounting
Corporate Accountant
Equity Specialist
Fund Accounting Analyst
Fund Manager
Reserve Specialist
Corporate Accounting Manager
Vice President, Human Resources
Human Resources Generalist
Payroll/Employee Benefits Manager and Executive Administrator to the Board
Executive Vice President, Asset Management and Operations
Software Engineer
Manager of IT
Systems Administrator
Software Engineer
Executive Vice President, Legal Services & General Counsel
Closing Attorney
Executive Vice President of OCCH, President of Ohio Capital Finance Corporation
Director of Grants and CDFI Compliance, OCFC
Closing Officer
Vice President, OCFC
Underwriting Officer
Operations/Portfolio Administrator, OCFC
Director of Grants
Executive Vice President, Asset Management and Operations
Administrative Assistant
Front Desk Assistant
Administrative Specialist
Director of Operations, Communications and Events
Communications Manager
Manager of Corporate Events and Conferences
Executive Vice President of Capital Markets
Underwriter
Senior Vice President of Capital Markets
Underwriter
Underwriter
Underwriter
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:
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
Ohio Capital Corporation for Housing Board; Ohio Equity Fund, Inc. Board; Ohio Capital Finance Corporation Board
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
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
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
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
Acquisition and Consulting Fees24,744,827
Other3,078,593
Total$27,823,420
Acquisition and Consulting Fees
2023:24,744,827
Other
2023:3,078,593
Total
2023:$27,823,420
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
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