County Corp Development

“County corp development (ccd) entered into a business development service agreement with county corp, a separate tax-exempt organization, to provide services including management, marketing, loan packaging, processing, closing, and servicing and liquidation functions for the sba 504 program activities. Ccd entered into a separate agreement with county corp to perform all the responsibilities with respect to specific economic development programs offered by ccd pursuant to the delegation agreement between montgomery county and county corp. Specifically for the sba portfolio, the organization contracted its 504 servicing functions to another organization to administer the portfolio in june 2021 continuing until october 30, 2022 wherein the organization voluntarily withdrew as a 504 certified lender and the sba 504 loan portfolio was transferred by the sba to the servicing organization.”

“As of april 2015, county corp development's governing body, their board of trustees, has the power to elect one or more members of the board of trustees.”

“County corp development does not have committees, but pursuant to the agreement previously stated, certain administrative functions are delegated to county corp. County corp's audit committee oversees the audit of the financial statements and the selection of an independent accountant to perform the audit.”

“An independent accountant prepares form 990 and all required schedules. The return is signed by the president and provided to the board of trustees prior to being filed.”

“All county corp development board of trustees and county corp employees (perform duties for county corp development) are required to read and sign a conflict of interest policy form annually or upon appointment as a new trustee or upon hire as a new employee. This policy states that the trustee or employee who has a conflict of interest with respect to a matter shall notify the corporation and other trustees present before discussion of such matter begins and abstain from voting in that particular matter. The organization also regularly and consistently monitors the affiliations its trustees and employees have as to assist the trustee and employee in reporting any conflict of interest they may have.”

“The president and other officers of county corp development are employees of county corp, a separate tax-exempt organization. The process for determining compensation for the organization's president is a function of the executive committee of county corp, who has the authority to perform mid-year and annual reviews of the president and may award an increase within the parameters of a previously approved allotment for all employees of county corp. The county corp executive committee reviews and recommends for approval to the county corp board of trustees an annual budget that may include an allotment for potential increases which may be disbursed on a merit basis. The personnel committee of county corp reviews salary studies and/or salary comparisons of similar organizations and approves any adjustments in salaries or salary ranges as needed for all employees of county corp. The president and managerial employees of county corp are responsible for completing mid-year and annual reviews for their employees and increases may be awarded within the parameters of a previously approved allotment for all employees based on merit.”

“Documents made available as required by law.”

“James dando - 2501 oakmoor lane, dayton, oh 45459. David dickerson - 41 s. First street, miamisburg, oh 45342. James hill - 3560 pentagon blvd., beavercreek, oh 45431. Neal ratliff - 312 n. Patterson blvd., dayton, oh 45402. Kristen spenceley - 2732 merrimont drive, troy, oh 45373. Eric cluxton - 137 n. Main st., ste. 700, dayton, oh 45402. Clinton morton - 101 s. Ohio avenue, floor 2, sidney, oh 45365. Heather corbin - 6291 wilmington pike, dayton, oh 45459. Daniel davis - 11221 reed hartman hwy., cincinnati, oh 45241. Stephen naas - 130 w 2nd street suite 1420, dayton, oh 45402. Elizabeth brune - 130 w 2nd street suite 1420, dayton, oh 45402. Tracy schultz - 130 w 2nd street suite 1420, dayton, oh 45402.”

“Finalized the state of ohio 166 loan program in the state of ohio in prior year. As of 6/30/21, the portfolio went back to the state of ohio as the organization chose not to pursue renewal of the agreement. Operated the sba 504 loan program in the state of ohio until oct 30, 2022. Processed, approved and closed loans and provided servicing on loan portfolio of 60 loans. The organization contracted its 504 servicing functions to another organization to administer the portfolio in june 2021 continuing until october 30, 2022 wherein the organization voluntarily withdrew as a 504 certified lender and the sba 504 loan portfolio was transferred by the sba to the servicing organization.”

“Return of program income -921,051. Transfer of net assets to county corp (31-0978908) -655,261.”