Ohio Capital Finance Corporation

Analysis

Ohio Capital Finance Corporation is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in August 2003, 23 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ohio Capital Finance Corporation reported income of $11.2m and spending of $4.1m, leaving 64% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $15.4m to $11.2m (-27%), an average of -7.6% a year. The sharpest change came in the year to December 2022, when income rose by 105%. Over the whole period it spent 29% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ohio Capital Finance Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within OH. Charities of a similar size with the same main cause include Hagerstown Goodwill Industries Inc ($11.2m), Enlace Chicago ($11.3m) and Peoplefund ($11.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 59% of the total. At year end it held assets of $167.5m against liabilities of $88.0m, net assets of $79.5m.