2019-11-08T09:02:16-06:00 2018-12-31 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2018-01-01 311265570 OHIO CAPITAL CORPORATION FOR HOUSING OHIO 6142248446 88 EAST BROAD STREET SUITE 1800 COLUMBUS OH 43215 SUE ZIEGLER COO 6142248446 2019-11-06 1 GLENN M SHELTON P00228007 3016529100 2019-11-05 209.3.217.20 2019-11-06 10:02:13 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0FC5460241256066D74A2C5C66FD8B85E1F8608D 2018 2020-03-31 21:24:44Z SUE ZIEGLER 88 EAST BROAD STREET SUITE 1800 COLUMBUS OH 43215 126263540 0 X WWW.OCCH.ORG X 1989 OH SEE SCHEDULE O 9 9 69 0 -3341 72620 1955119 702025 88162644 125095094 221142 466421 0 0 90338905 126263540 5707250 5573666 0 0 15035271 16254426 0 0 0 61476470 95108571 82218991 116936663 8119914 9326877 253139261 173867116 170634287 82031924 82504974 91835192 X TO CAUSE THE CONSTRUCTION, REHABILITATION AND PRESERVATION OF AFFORDABLE HOUSING BY PROVIDING RESOURCES AND TECHNICAL SUPPORT TO DEVELOPERS OF AFFORDABLE HOUSING. 0 0 110426260 5573666 125098435 SEE SCHEDULE O. 110426260 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 35 0 1 69 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X SUE ZIEGLER 6142248446 88 EAST BROAD STREET SUITE 1800 COLUMBUS OH 43215 DANIEL M SLANE CHAIRMAN 3.00 3.00 X X 0 0 0 ROBERT J WEILER SR SECRETARY 3.00 3.00 X X 0 0 0 SUSAN E WEAVER VICE-CHAIR 3.00 3.00 X X 0 0 0 THOMAS LOOS TREASURER 3.00 3.00 X X 0 0 0 ANGELA MINGO DIRECTOR 3.00 3.00 X 0 0 0 DENNIS GUEST DIRECTOR 3.00 3.00 X 0 0 0 JEANNE GOLLIHER DIRECTOR 3.00 3.00 X 0 0 0 JOHN LEE DIRECTOR 3.00 3.00 X 0 0 0 RICHARD MCQUADY DIRECTOR 3.00 3.00 X 0 0 0 HAROLD D KELLER PRESIDENT 37.00 3.00 X 762947 0 266179 JOHN F KUKURA CHIEF OF ACQUISITIONS 40.00 X 546022 0 205233 SUSAN K ZIEGLER CHIEF OPERATING OFFICER 37.00 3.00 X 493453 0 178132 JENNIFER MULLANEY DIRECTOR OF FUND ACCOUNTING 30.00 10.00 X 351350 0 146463 ANTHONY DIBLASI CHIEF OF ASSET MANAGEMENT 40.00 X 416702 0 172686 JONATHAN D WELTY VICE PRESIDENT 30.00 10.00 X 439651 0 152316 JOSEPH PIMMEL DIRECTOR OF POLICY AND PROGRAMS 40.00 X 362919 0 132572 BRIAN LANGMEYER VICE PRESIDENT 40.00 X 404356 0 153259 DOUGLAS R KLINGENSMITH VICE PRESIDENT 40.00 X 461891 0 170847 JOHN D KIRCHER SENIOR VP, DEVELOPMENT 40.00 X 247859 0 16733 SARAH MALONE DIRECTOR OF FUND MANAGEMENT 40.00 X 271758 0 19699 4758908 0 1614119 40 0 1 0 SQUIRE PATTON BOGGS 41 S HIGH STREET SUITE 2000 COLUMBUS OH 43215 LEGAL SERVICES 272069 COHNREZNICK LLP 7501 WISCONSIN AVE SUITE 400 BETHESDA MD 20814 ACCOUNTING SERVICES 251170 BARNES & THORNBURG 41 S HIGH ST STE 3300 COLUMBUS OH 43215 LEGAL SERVICES 249061 BHE LLC 6225 BEDELL RD BERLIN CENTER OH 44401 LEAD REMEDIATION 157750 SHEPHERD CONSULTING 947 E JOHNSTOWN RD 277 GAHANNA OH 43230 CONSULTING 137498 7 445076 256949 702025 HARDEST HIT FUND PROGRAM REVENUE 531390 91123905 91123905 ACQUISITION FEE 531390 11624470 11624470 MANAGEMENT FEE 531390 11326663 11326663 FLOW-THROUGH GAIN FROM INVESTMENT 531390 5562897 5562897 RECOVERY OF BAD DEBT 900099 1871628 1871628 3585531 3588872 -3341 125095094 466421 466421 126263540 125098435 -3341 466421 5573666 5573666 4131134 3078282 1052852 9967525 7215539 2751986 220019 176492 43527 1166401 935649 230752 769347 573895 195452 90409 72962 17447 184633 149922 34711 52075 42285 9790 999730 490732 508998 95768 79740 16028 64567 29064 35503 236821 46624 190197 416044 345292 70752 487858 430919 56939 1141387 1097327 44060 14005 14005 249365 154334 95031 185189 78172 107017 HARDEST HIT FUND PROGRA 89123802 89123802 ADMINISTRATIVE 750303 190706 559597 TITLE COMPANY EXPENSE 205639 205639 OPERATING AND MAINTENAN 182255 160021 22234 628721 366830 261891 116936663 110426260 6510403 0 208915859 126480349 1468840 1432865 6741356 2825329 146054 161841 152808 220142 5519941 2472706 3030289 3047235 32684055 39699355 253139261 173867116 5985606 6665989 8926 38120 162205389 72921516 570827 569626 1863539 1836673 170634287 82031924 X 82504974 91835192 82504974 91835192 253139261 173867116 X 9326877 3341 X X 0 1 X 1 1 1 X X X 1 OHIO CAPITAL FINANCE CORPORATION 010634942 10 1 598774 0 1 598774 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 52075 0 0 52075 0 505187 505187 3147737 1057179 2090558 427249 357033 70216 1110175 1008484 101691 329593 50010 279583 3047235 INVESTMENT IN OHIO EQUITY FUND -1317508 C INVESTMENT IN OCFC 34244869 C INVESTMENT IN CPAH -561934 C INVESTMENT IN AHD 11483 C INVESTMENT IN CPIC 1965493 C INVESTMENT IN OCIC 4740674 C INVESTMENT IN CSH INC 794433 C INVESTMENT IN OAKWOOD -178155 C 39699355 PARTNERSHIP PROJECT RESERVES 1825055 OBLIGATIONS UNDER CAPITAL LEASE 11618 1836673 X PART X, LINE 2: OHIO CAPITAL (OCCH) HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) TO BE TREATED AS A TAX EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. OCCH IS SUBJECT TO INCOME TAXES ON REVENUE GENERATED FROM OTHER SOURCES UNRELATED TO ITS EXEMPT PURPOSE. GENERALLY, OCCH IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE (THE "IRC") AND FROM STATE AND LOCAL TAXES UNDER COMPARABLE LAWS. AS A RESULT OF THE TAX CUTS AND JOBS ACT OF 2017, EFFECTIVE JANUARY 1, 2018, QUALIFIED TRANSPORTATION FRINGE BENEFITS PROVIDED TO EMPLOYEES ARE NOW TREATED AS UNRELATED BUSINESS INCOME. DURING THE YEAR ENDED DECEMBER 31, 2018, OCCH GENERATED UNRELATED BUSINESS LOSS AS A RESULT OF INCOME THAT PASSED THROUGH FROM COMMUNITY PARTNERS FOR AFFORDABLE HOUSING. OCCH IS REQUIRED TO FILE AND DOES FILE A TAX RETURN WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND OCCH HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. 1 HANLEY WOOD MEDIA INC ONE THOMAS CIRCLE NW SUITE 1600 WASHINGTON DC 20005 901024481 20500 EVENT SPONSOR KENTUCKY BANKERS ASSOCIATION 600 W MAIN STREET LOUISVILLE KY 40202 610244750 501(C)(6) 13500 EVENT SPONSOR OHIO BANKERS LEAGUE 4215 WORTH AVENUE SUITE 300 COLUMBUS OH 43219 310916384 501(C)(6) 22000 EVENT SPONSOR OHIO CAPITAL FINANCE CORPORATION 88 EAST BROAD STREET COLUMBUS OH 43215 010634942 501(C)(3) 598774 GENERAL SUPPORT OHIO CAPITAL IMPACT CORPORATION 88 EAST BROAD STREET COLUMBUS OH 43215 461632889 501(C)(3) 4407680 GENERAL SUPPORT PELOTONIA 351 W NATIONWIDE BLVD COLUMBUS OH 43215 311145986 501(C)(3) 8493 GENERAL SUPPORT COMMUNITY PROPERTIES IMPACT CORPORATION 910 E BROAD ST COLUMBUS OH 432051150 311707264 501(C)(3) 40000 GENERAL SUPPORT 4 3 PART I, LINE 2: REPORTING BY THE GRANT RECIPIENT IS REQUIRED. THE INFORMATION RECEIVED IS REVIEWED TO ENSURE THE GRANT IS SPENT FOR THE PURPOSE IT WAS INTENDED. MANY OF OUR GRANTS ARE REIMBURSABLE GRANTS, SO INVOICES MUST BE SUBMITTED FOR REIMBURSEMENT. INVOICES ARE REVIEWED TO ENSURE THE GRANT IS USED FOR ITS INTENDED PURPOSE. X X X X X 1 1 0 0 0 1 0 1 0 HAROLD D KELLER PRESIDENT 296139 0 247500 0 219308 0 253618 0 12561 0 1029126 0 98165 0 JOHN F KUKURA CHIEF OF ACQUISITIONS 224593 0 154908 0 166521 0 169101 0 36132 0 751255 0 69199 0 SUSAN K ZIEGLER CHIEF OPERATING OFFICER 224448 0 127326 0 141679 0 152718 0 25414 0 671585 0 58976 0 JENNIFER MULLANEY DIRECTOR OF FUND ACCOUNTING 178107 0 75363 0 97880 0 117632 0 28831 0 497813 0 41790 0 ANTHONY DIBLASI CHIEF OF ASSET MANAGEMENT 188346 0 99581 0 128775 0 137203 0 35483 0 589388 0 51841 0 JONATHAN D WELTY VICE PRESIDENT 202180 0 108360 0 129111 0 140568 0 11748 0 591967 0 52958 0 JOSEPH PIMMEL DIRECTOR OF POLICY AND PROGRAMS 168450 0 104705 0 89764 0 120074 0 12498 0 495491 0 39094 0 BRIAN LANGMEYER VICE PRESIDENT 200830 0 82858 0 120668 0 130793 0 22466 0 557615 0 50624 0 DOUGLAS R KLINGENSMITH VICE PRESIDENT 202199 0 133586 0 126106 0 149750 0 21097 0 632738 0 52374 0 JOHN D KIRCHER SENIOR VP, DEVELOPMENT 21940 0 126673 0 99246 0 14750 0 1983 0 264592 0 41999 0 SARAH MALONE DIRECTOR OF FUND MANAGEMENT 34090 0 107621 0 130047 0 16305 0 3394 0 291457 0 54473 0 PART I, LINES 4A-B IN 2018, THE ORGANIZATION MADE THE FOLLOWING SEVERANCE PAYMENT: KLINGENSMITH - $54,635 IN 2018, THE ORGANIZATION MADE THE FOLLOWING CONTRIBUTIONS INTO A NONQUALIFIED RETIREMENT PLAN: DIBLASI - $104,458 KELLER - $197,800 KIRCHER - $84,627 KLINGENSMITH - $105,533 KUKURA - $139,435 LANGMEYER - $102,007 MALONE - $109,762 MULLANEY - $84,205 PIMMEL - $78,774 WELTY - $106,709 ZIEGLER - $118,835 PART I, LINE 6 EMPLOYEES RECEIVED BONUSES BASED ON THE ORGANIZATIONS NET INCOME FOR THE YEAR. PART I, LINE 7 ELIGIBLE EMPLOYEES RECEIVED PERFORMANCE-BASED BONUSES. FORM 990, PART I, LINE 1 TO CAUSE THE CONSTRUCTION, REHABILITATION & PRESERVATION OF AFFORDABLE HOUSING BY PROVIDING RESOURCES AND TECHNICAL SUPPORT TO DEVELOPERS OF AFFORDABLE HOUSING. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: OHIO CAPITAL CORPORATION FOR HOUSING (OCCH) IS A FINANCIAL INTERMEDIARY THAT PROVIDES DEVELOPERS OF AFFORDABLE RENTAL HOUSING WITH ACCESS TO CAPITAL. THROUGH OUR OHIO EQUITY FUNDS, OCCH RAISES TAX CREDIT EQUITY FOR INVESTMENT IN AFFORDABLE HOUSING PROJECTS THROUGHOUT OHIO AND PARTS OF KENTUCKY, INDIANA AND PENNSYLVANIA. IN 2018 OCCH ASSISTED DEVELOPERS AND NON-PROFIT SPONSORS OF 37 LOW-INCOME HOUSING TAX CREDIT PROJECTS, REPRESENTING 2,011 UNITS OF HOUSING PLACED IN SERVICE. IN 2018, OHIO EQUITY FUND RAISED OVER $275.5 MILLION FOR OHIO EQUITY FUND XXVIII AND $56.8 MILLION IN PROPRIETARY INVESTMENTS, WHICH WILL BE INVESTED IN PROPERTIES THROUGHOUT OHIO, KENTUCKY, INDIANA AND PENNSYLVANIA. AS PART OF OUR FIDUCIARY RESPONSIBILITY TO OUR INVESTORS, OCCH PROVIDES ASSET MANAGEMENT SERVICES TO THE PROJECTS INCLUDING TENANT APPLICATION REVIEW, COMPLIANCE TRAINING, PHYSICAL INSPECTIONS AND QUARTERLY REVIEW OF OCCUPANCY AND CASH FLOW. IN 2003, OCCH ACQUIRED THE LARGEST PORTFOLIO OF SCATTERED SITE PROJECT-BASED SECTION 8 RENTAL HOUSING IN THE NATION. WITH 250 BUILDINGS ACROSS SEVEN INNER-CITY NEIGHBORHOODS IN COLUMBUS, OHIO, THESE UNITS HAD HISTORICALLY STRUGGLED WITH POOR MAINTENANCE, HIGH CRIME, AND RESIDENTS LIVING IN SEVERE POVERTY WITH LIMITED SOCIAL AND FINANCIAL RESOURCES. THE ORIGINAL PORTFOLIO OF SECTION-8 UNITS BECAME KNOWN AS THE "CPO INITIATIVE." IN PARTNERSHIP WITH NUMEROUS COMMUNITY ORGANIZATIONS AND ACTIVE SUPPORT FROM FEDERAL, STATE, COUNTY AND LOCAL GOVERNMENTS, OCCH IMPLEMENTED A $133 MILLION, NINE-PHASE REDEVELOPMENT PLAN FOR THE 1,033 UNITS IN THE CPO INITIATIVE. ALSO ESSENTIAL TO THE INITIATIVE WAS AN AGGRESSIVE ELIMINATE THE ELEMENTS SAFETY PROGRAM, SUPPORTIVE SERVICES, STRICT LEASE COMPLIANCE, AND RE-ESTABLISHMENT OF TRUST AND ACCOUNTABILITY BETWEEN RESIDENTS AND PROPERTY MANAGEMENT. THE GOAL IS FOR FAMILIES AND COMMUNITIES TO USE CPO HOUSING AS THE FOUNDATION FOR TRANSFORMATIONAL CHANGE. CPO MANAGEMENT HAS GONE BEYOND TRADITIONAL PROPERTY MANAGEMENT IN RESPONDING TO ITS UNIQUE CHALLENGES, REQUIRING ONGOING INNOVATION AND SIGNIFICANT INVESTMENT. UNDERSTANDING THESE CHALLENGES, CPO ESTABLISHED COMMUNITY PROPERTIES IMPACT CORPORATION (CPO IMPACT) IN 2007 TO HELP FUND INITIATIVES AND SUPPORT THE RESEARCH AND DEVELOPMENT NEEDED TO FIND AND DESIGN INTERVENTIONS TO FURTHER THE MISSION OF CPO. CPO SERVES A RESIDENT POPULATION LIVING BELOW THE POVERTY GUIDELINE WITH LIMITED ACCESS TO RESOURCES. THESE RESIDENTS BENEFIT GREATLY FROM SUPPORTIVE SERVICES. LEVERAGING STABLE HOUSING AS A PLATFORM FOR FUTURE OPPORTUNITY, CPO IMPACT APPLIES A TWO-GENERATION APPROACH WORKING WITH RESIDENTS AND THEIR CHILDREN TO REDUCE BARRIERS AND ASSIST FAMILIES TO MOVE BEYOND POVERTY. INITIATIVES ARE STRATEGICALLY DESIGNED TO ADDRESS FIVE CORE OBJECTIVES: STABLE HOUSING, SAFE NEIGHBORHOODS, RESIDENT GROWTH (INCLUDING MOVING BEYOND POVERTY WHERE POSSIBLE), SUCCESSFUL CHILDREN AND COMMUNITY LEARNING. IN ADDITION TO MANAGING THE CPO UNITS, THE MANAGEMENT COMPANY ALSO MANAGES UNITS IN COLUMBUS, PORTSMOUTH, KETTERING, DAYTON, TOLEDO AND YOUNGSTOWN, MANY OF WHICH ARE PART OF OCCH'S OVERALL PORTFOLIO. IN 2017, CPO OPENED COLUMBUS SCHOLAR HOUSE AND FUTURE SCHOLARS COMMUNITY LEARNING CENTER. COLUMBUS SCHOLAR HOUSE IS A 38 UNIT AFFORDABLE HOUSING COMMUNITY FOR LOW-INCOME STUDENT PARENTS DESIGNED TO IMPROVE LIVES, FAMILIES AND COMMUNITIES THROUGH EDUCATION. THE FUTURE SCHOLARS LEARNING CENTER PROVIDES QUALITY ON-SITE CHILD-CARE BY PARTNERING WITH THE YMCA OF CENTRAL OHIO. THE CENTER SERVES COLUMBUS SCHOLAR HOUSE RESIDENTS AS WELL AS OTHER FAMILIES LIVING IN CPO MANAGED PROPERTIES. THE ONGOING MANAGEMENT OF THE COMMUNITY PROPERTIES PORTFOLIO CONTINUES TO BE A FOCUS OF OHIO CAPITAL CORPORATION AND CPOMS. OHIO CAPITAL FINANCE CORPORATION (OCFC) IS THE LENDING ARM OF OCCH AND A CERTIFIED DEVELOPMENT FINANCIAL INSTITUTION (CDFI). THE OHIO AFFORDABLE HOUSING LOAN FUND ("OAHLF"), FORMED BY OCCH IN 2004 AND THE OCFC PARTICIPATION I, LLC ("PARTICIPATION"), FORMED IN 2006 HAVE $18 MILLION DOLLARS OF FUNDING TO DEPLOY. IN 2012, THE OCFC PNC LOAN FUND WAS FORMED AND HAS AN ADDITIONAL $5 MILLION OF FUNDING AVAILABLE. THESE FUNDS WERE ESTABLISHED TO PROVIDE A FLEXIBLE SOURCE OF CAPITAL TO BE USED BY DEVELOPMENT PARTNERS OF OCCH FOR USE AS: PREDEVELOPMENT FUNDING, ACQUISITION FINANCING AND BRIDGE FINANCING FOR PROJECTS NEARING THE END OF THEIR COMPLIANCE PERIOD. EXPANSION AND NEW CAPITAL MARKED TWO OF THE ACCOMPLISHMENTS FOR OCFC IN 2018. LED BY THE IMPLEMENTATION OF THE OCFC'S 2017 CAPITAL MAGNET FUND AWARD FROM THE CDFI FUND AND THE CREATION OF THE SOUTHSIDE RENAISSANCE FUND, OCFC PROVIDED 52 LOANS TO AFFORDABLE HOUSING DEVELOPERS WITH TOTAL PRODUCTION EXCEEDING $44,000,000 AND ASSISTING WITH THE PRODUCTION AND PRESERVATION OF OVER 2,700 UNITS. OCFC ALSO DEVELOPED A NEW TARGETED LOAN FUND TO SERVE CINCINNATI AND HAMILTON COUNTY. IN ITS FIRST YEAR OF OPERATION, THE CINCINNATI NEIGHBORHOOD TRANSFORMATION FUND LENT $4,323,000 TO ASSIST IN THE PRESERVATION OF AFFORDABLE HOUSING WHILE ASSISTING IN SPURRING ECONOMIC DEVELOPMENT THROUGH COMMERCIAL DEVELOPMENT LENDING. OCFC WAS GENEROUSLY AWARDED A FINANCIAL ASSISTANCE GRANT OF $1,525,000 FROM THE CDFI FUND WHICH WILL ALLOW OCFC TO CREATE A NEW RECOVERY HOUSING LENDING PROGRAM. THIS UNIQUE PARTNERSHIP BETWEEN RECOVERY HOUSING PROVIDERS, THE OHIO DEPARTMENT OF MENTAL HEALTH AND ADDICTION SERVICES, AND THE OHIO COUNCIL OF BEHAVIORAL HEALTH & FAMILY SERVICES PROVIDERS SEEKS TO INCREASE THE NUMBER OF RECOVERY HOUSES IN OHIO TO ASSIST IN THE TREATMENT OF THOSE DEALING WITH ADDICTION. ADDITIONALLY, OCFC WAS THE RECIPIENT OF THE HIGHLY COMPETITIVE 2018 CAPITAL MAGNET FUND PROGRAM. OCFC WILL UTILIZE ITS $4,900,000 AWARD TO PROVIDE ADDITIONAL SOURCES OF CAPITAL FOR PROJECTS LOCATED IN KENTUCKY AND WEST VIRGINIA. IN ADDITION, IN 2012 OCFC BECAME A MEMBER OF THE FEDERAL HOME LOAN BANK OF CINCINNATI (FHLB). OCFC UTILIZES ITS MEMBERSHIP WITH THE FHLB TO LEVERAGE ADDITIONAL FUNDING FOR ITS BORROWERS THROUGH PROGRAMS THAT SERVE LOW TO MODERATE INCOME HOUSEHOLDS. IN FEBRUARY, 2010, PRESIDENT OBAMA ESTABLISHED THE HARDEST HIT FUND (HHF) TO PROVIDE AID TO FAMILIES IN STATES HARDEST HIT BY THE ECONOMIC AND HOUSING MARKET DOWNTURN. THE STATE OF OHIO RECEIVED $570 MILLION IN TARP FUNDS TO HELP ADDRESS THE FORECLOSURE CRISIS IN OUR STATE. THE OHIO HOUSING FINANCE AGENCY IS ADMINISTERING THE FORECLOSURE MITIGATION PROGRAM, BUT TREASURY GUIDELINES STIPULATED THAT TO RECEIVE FUNDS, EACH RECIPIENT MUST BE A FINANCIAL INSTITUTION. TO FULFILL THIS REQUIREMENT, OHFA ASKED OHIO CAPITAL CORPORATION TO ADMINISTER THE FUNDS. OCCH FORMED OHIO HOMEOWNER ASSISTANCE LLC (OHA), A WHOLLY OWNED SUBSIDIARY, WHICH SERVES AS FISCAL AGENT FOR OHFA. OHA DISBURSES ALL HHF PAYMENTS INCLUDING THOSE TO LENDERS/SERVICERS AND FOR ALL ADMINISTRATIVE EXPENSES. THROUGH 2018, OHA HAD DISBURSED NEARLY $450 MILLION ON BEHALF OF APPROXIMATELY 27,000 HOMEOWNERS. IN ADDITION, NEARLY $175 MILLION HAD BEEN DISBURSED FOR NEARLY 12,200 PROPERTIES THAT WERE STRATEGICALLY TARGETED UNDER THE PROGRAM'S DEMOLITION INITIATIVE. THE GOAL OF THE PROGRAM IS TO STABILIZE PROPERTY VALUES BY REMOVING AND GREENING VACANT AND ABANDONED PROPERTIES IN AN EFFORT TO AVOID FUTURE FORECLOSURES. IN 2016, THE STATE OF OHIO RECEIVED $192 MILLION OF ADDITIONAL FUNDING THAT EXTENDS THE PROGRAM TO 2020. THROUGH THE OCCH TRAINING ACADEMY AND IN CONJUNCTION WITH OTHER TRADE ASSOCIATIONS, OCCH CONTINUED TO OFFER AN ARRAY OF NO COST/LOW COST TRAINING COURSES FOR PROPERTY MANAGERS AND MAINTENANCE STAFF. TOPICS INCLUDE FAIR HOUSING, TAX CREDIT COMPLIANCE, BUDGETING, MARKETING, PREVENTATIVE MAINTENANCE AND LANDLORD-TENANT LAW. IN 2017, OHIO CAPITAL LAUNCHED AN E-LEARNING TRAINING TOOL THAT OFFERED SEVERAL COURSE TOPICS. IN ADDITION, OCCH HOLDS AN ANNUAL MANAGER AND MAINTENANCE CONFERENCE TO TRAIN FRONT LINE MANAGERS AND MAINTENANCE STAFF. OCCH FORMED THE OHIO CAPITAL IMPACT CORPORATION (OCIC) IN DECEMBER OF 2012 AS THE NON-PROFIT, PHILANTHROPIC ARM OF OHIO CAPITAL CORPORATION FOR HOUSING (OCCH). OCIC CONTRIBUTES FUNDING TO SUPPORT THE EDUCATIONAL, ECONOMIC, HEALTH, AND SOCIAL BETTERMENT OF THE RESIDENTS OF AFFORDABLE HOUSING, TO THE AREAS IN WHICH THEY LIVE AND TO THE ORGANIZATIONS THAT SERVE THEM. OCCH HAS CAPITALIZED OCIC WITH APPROXIMATELY $24 MILLION DOLLARS THROUGH THE END OF 2018. IN 2018, $3.15M WERE AWARDED ACROSS FIVE DEDICATED PROGRAMS TO BENEFIT THE RESIDENTS OF OHIO EQUITY FUND PROJECTS. THROUGH THE RESIDENT DEVELOPMENT FUND, PARTNERS CAN APPLY FOR AWARDS TO SUPPORT INITIATIVES THAT EDUCATE AND EMPOWER YOUTH, PROVIDE SUMMER CAMPS AND ENRICHMENT, HELP SENIORS AGE-IN-PLACE, ENHANCE SITE SAFETY AND SECURITY, AND ASSIST ADULTS SEEKING TO FURTHER THEIR EDUCATION OR WORKFORCE TRAINING. IN 2018, OHIO CAPITAL CORPORATION AND OCIC AWARDED OVER $1.2M IN THESE GRANTS. FORM 990, PART III, LINE 4A IN ADDITION TO THE RESIDENT DEVELOPMENT FUND, OCIC FUNDS GRANTS FOR A PLACE BASED STRATEGIES FUND (PBS). THROUGH THE PBS, MORE THAN $13,500 WAS AWARDED IN 2018 TO ORGANIZATIONS THAT SOUGHT TO IMPACT THEIR NEIGHBORHOODS AND COMMUNITIES THOUGH PROJECTS SUCH AS THE CREATION OF WALKING TRAILS, PUBLIC ART PROJECTS, COMMUNITY GARDENS AND COMMERCIAL REVITALIZATION PROJECTS. IN 2014, THE OCCH/OCIC BOARD DIRECTED UP TO $1 MILLION FOR A MULTI-YEAR COLLEGE AND GED SCHOLARSHIP PROGRAM FOR RESIDENTS OF OCCH PROPERTIES. THE PROGRAM WAS IMPLEMENTED AS A PILOT PROGRAM AND IN 2018 PAID OUT $284,500 IN SCHOLARSHIPS. IN ADDITION, FUNDS WERE EARMARKED FOR PERFORMANCE-BASED AWARDS BASED ON ACHIEVING GOOD GRADES. OCIC IS PROUD TO SUPPORT THE WORK OF CPO IMPACT, AN AFFILIATE OF COMMUNITY PROPERTIES OF OHIO CREATED IN 2007. IN 2018, NEARLY $100,000 IN FUNDS WERE AWARDED FOR SELECTED PROGRAMS THAT INTERVENTIONS DESIGNED TO INCREASE HOUSING STABILITY, ENHANCE NEIGHBORHOOD SAFETY, AND BUILD ON THE CAPABILITIES OF RESIDENTS STRIVING TO CULTIVATE THEIR WELL-BEING, FAMILY STABILITY, AND THEIR CHILDREN'S SUCCESS. OCCH AND OCIC ARE MISSION-DRIVEN ORGANIZATIONS THAT ADVOCATE FOR AFFORDABLE HOUSING AND ITS RESIDENTS THROUGH DONATIONS TO SERVICE-ENRICHED PROGRAMS THAT HELP CREATE AND MAINTAIN STRONG, STABLE COMMUNITIES. OCCH AND OCIC HAVE CREATED PARTNERSHIPS WITH MANY ORGANIZATIONS, INCLUDING BUT NOT LIMITED TO THE UNITED WAY, HABITAT FOR HUMANITY, THE COALITION FOR HOMELESSNESS AND HOUSING IN OHIO, LUTHERAN SOCIAL SERVICES, THE COLUMBUS METROPOLITAN HOUSING AUTHORITY, COMMUNITY SHELTER BOARD, DISABILITY HOUSING NETWORK, GREATER COLUMBUS COMMUNITY HELPING HANDS, HABITAT FOR HUMANITY, AND THE YMCA OF CENTRAL OHIO FOR PROGRAMS THAT ADVOCATE FOR NEIGHBORHOOD REVITALIZATION AND BETTER COMMUNITIES. IN 2018, OCIC DONATED OVER $1.5 MILLION FOR SUCH INITIATIVES AND PROGRAMS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED INTERNALLY BY STAFF (PRESIDENT AND COO/CFO). IT IS THEN REVIEWED BY THE FINANCE/AUDIT COMMITTEE AND LEGAL COUNSEL. THE AUDIT COMMITTEE RECOMMENDS APPROVAL TO THE FULL BOARD. THE 990 IS ALSO MADE AVAILABLE TO THE FULL BOARD PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS AND EMPLOYEES ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY AND COMPLETE AN INTEREST DISCLOSURE STATEMENT. AN INTEREST DISCLOSURE STATEMENT MUST ALSO BE COMPLETED AND FILED WHEN SITUATIONS ARISE THAT CAUSE AN ACTUAL, APPARENT OR POTENTIAL CONFLICT OF INTEREST. OHIO CAPITAL CORPORATION IS A FAIRLY SMALL COMPANY (APPROX. 58 EMPLOYEES). ANY KNOWN CONFLICT OF INTEREST IS BROUGHT TO THE ATTENTION OF THE PRESIDENT FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 15 AN INDUSTRY PEER SURVEY WAS COMPLETED IN 2018 FOR THE PRESIDENT AND COO. SURVEYS WERE ALSO COMPLETED IN 2017 BY INDUSTRY PEERS FOR OTHER POSITIONS. THE PRESIDENT DETERMINES THE SALARIES OF OFFICERS AND KEY EMPLOYEES. WE ALSO REVIEW 990S OF OUR INDUSTRY PEERS. THE PRESIDENT'S SALARY IS DETERMINED BY THE BOARD OF DIRECTORS. A SEPARATE COMPENSATION COMMITTEE WAS FORMED IN 2012. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS OF THE ORGANIZATION ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: FLOW THROUGH LOSS 3,341. FORM 990, PART XII, LINE 2C: ALTHOUGH THERE IS NO SEPARATE AUDITED FINANCIAL STATEMENT FOR THE ENTITY, THE ORGANIZATION DOES RECEIVE A CONSOLIDATED AUDIT PERFORMED BY AN INDEPENDENT ACCOUNTANT. THE ORGANIZATION DOES HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. 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