Finance Fund Capital Corporation
- Assets
- $60.1m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Columbus, OH
- Founding
- 09/2014
- Data as of
- 12/2021
- EIN
- 74-3033288
Organization Overview
Finance Fund Capital Corporation is located in Columbus, OH. The organization was established in 2014. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Finance Fund Capital Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Finance Fund Capital Corporation generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 9.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FINANCE FUND CAPITAL CORPORATION PROVIDES ACCESS TO CAPITAL TO PROMOTE DEVELOPMENT IN LOW-INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCE FUND CAPITAL CORPORATION OFFERS A VARIETY OF DIFFERENT LOAN FUNDS TO FORM PUBLIC-PRIVATE PARTNERSHIPS BY PROVIDING FLEXIBLE FINANCING THAT SUPPORTS ECONOMIC DEVELOPMENT AND JOB CREATION IN LOW-INCOME COMMUNITIES. THESE LOAN FUNDS AND PROGRAMS INCLUDE THE SMALL BUSINESS LOAN FUND, COMMUNITY HEALTH LOAD FUND, HEALTHY FOODS, AND SBA COMMUNITY ADVANTAGE LOAN PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillip Smith Treasurer | OfficerTrustee | 1 | $0 |
Diana Turoff President And CEO | OfficerTrustee | 40 | $0 |
Jerry Katz Chair | OfficerTrustee | 1 | $0 |
Ryan Miller Vice Chair | OfficerTrustee | 1 | $0 |
Matt Frank Chief Financial Officer | Officer | 40 | $0 |
Andrew Swary Evp, General Counsel | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,378,765 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,378,765 |
| Total Program Service Revenue | $2,207,689 |
| Investment income | $24,381 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,610,835 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $747 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $108,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $887,115 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,619,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,783,644 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $292,348 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $43,031,706 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,107,698 |
| Accounts payable and accrued expenses | $2,947,315 |
| Grants payable | $0 |
| Deferred revenue | $1,500,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $35,818,365 |
| Other liabilities | $200,000 |
| Total liabilities | $40,465,680 |
| Net assets without donor restrictions | $19,642,018 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $60,107,698 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Finance Fund Capital Corporation has recieved totaling $552,500.
| Awarding Organization | Amount |
|---|---|
Cleveland Development Advisors Community Reinvestment Fund Inc Cleveland, OH PURPOSE: Grant Payment for Technical Assistance per Pro Neighborhood's memorandum Of Understanding between CDACRF and Finance Fund Capital Corporation. Sub Grant for Technical Assistance related to Chase Foundation Grant. | $452,500 |
Ohio Capital Finance Corporation Columbus, OH PURPOSE: PROGRAM SUPPORT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |
Communtiy Foundation Of The Holland Zeeland Area Holland, MI | $102,848,837 | $16,439,772 |
Pittsburgh Promise Foundation Pittsburgh, PA | $59,585,111 | $15,082,951 |
Pennsylvania Ems Provider Foundation Harrisburg, PA | $55,116 | $0 |
The M S Hershey Foundation Hershey, PA | $64,689,691 | $17,201,612 |
Comerica Charitable Tr Detroit, MI | $75,789,432 | $13,296,605 |
New Albany Community Foundation New Albany, OH | $19,894,351 | $7,914,986 |
Porter County Government Charitable Nonprofit Foundation Inc Valparaiso, IN | $195,277,590 | $7,720,193 |
The Wayne And Joan Webber Foundation Clinton Township, MI | $34,958,708 | $9,275,748 |
United Way Of Greater Stark County Inc Canton, OH | $15,976,372 | $6,358,831 |