PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP (EIN 23-6050858)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-10
- IRS object ID
- 202333149349301948
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-11-10T12:44:28-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 366055558 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 MARKET STREET SUITE 700 | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19103 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 236050858 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PHILADELPHIA INDUSTRIAL DEVELOPMENT | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PHIL | BusinessNameControlTxt |
| Phone | 2154968020 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 MARKET STREET 3500W | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19102 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TIFFANY CANADY | PersonNm |
| Person Title | SR. VICE PRESIDENT | PersonTitleTxt |
| Phone | 2154968136 | PhoneNum |
| Signature | 2023-11-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | TIFFANY | PersonFirstNm |
| Person Last | CANADY | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RUSSLEE ARMSTRONG | PreparerPersonNm |
| PTIN | P00288383 | PTIN |
| Phone | 2155614200 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ANNE NEVINS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 MARKET STREET 3500W | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19102 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $17,764,244 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.PIDCPHILA.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1957 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | PIDC PLANS AND IMPLEMENTS ECONOMIC DEVELOPMENT INITIATIVES (SEE SCHEDULE O) WHICH ENHANCE THE COMPETITIVE ENVIRONMENT, GENERATE JOBS AND PRODUCE HIGHER TAX RATABLES THROUGHOUT PHILADELPHIA. | ActivityOrMissionDesc |
| Voting Members Governing Body | 30 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 30 | VotingMembersIndependentCnt |
| Total Employee | 56 | TotalEmployeeCnt |
| Total Volunteers | 30 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,623,981 | PYContributionsGrantsAmt |
| CY Contributions Grants | $5,226,641 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $10,870,005 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $12,484,289 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $53,314 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $13,493,986 | PYTotalRevenueAmt |
| CY Total Revenue | $17,764,244 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $2,520,135 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,621,480 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,427,208 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,274,501 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,611,318 | PYOtherExpensesAmt |
| CY Other Expenses | $8,059,315 | CYOtherExpensesAmt |
| PY Total Expenses | $13,558,661 | PYTotalExpensesAmt |
| CY Total Expenses | $17,955,296 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$64,675 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$191,052 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $40,435,799 | TotalAssetsBOYAmt |
| Total Assets EOY | $41,210,831 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $27,299,844 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $26,531,931 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $13,135,955 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $14,678,900 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $4,603,037 | ExpenseAmt |
| Grant | $570,958 | GrantAmt |
| Revenue | $5,360,628 | RevenueAmt |
| Desc | SUPPORT GROWTH & RESILIENCE OF BUSINESSES AND DEVELOPERS (ECONOMIC DEVELOPMENT)SEE SCHEDULE OSUPPORT GROWTH & RESILIENCE OF BUSINESSES AND DEVELOPERS: PIDC PROVIDES SUPPORT TO ITS AFFILIATES (PIDC LOCAL DEVELOPMENT CORPORATION, PIDC COMMUNITY CAPITAL, PIDC FINANCING CORPORATION AND PIDC PENN VENTURE FUND) TO INVEST FLEXIBLE, AFFORDABLE CAPITAL IN GROWING COMPANIES TO HELP THEM SUCCEED. PIDC AND ITS AFFILIATES PROVIDE CAPITAL WHERE TRADITIONAL FINANCING IS DIFFICULT TO ACCESS OR NOT ABLE TO MEET AN OWNER'S NEEDS. PIDC INVESTS FLEXIBLE, AFFORDABLE CAPITAL IN GROWING LOCAL BUSINESSES - THE BACKBONE OF OUR ECONOMY - BECAUSE THEY CREATE JOBS, BUILD WEALTH FOR ENTREPRENEURS, AND STABILIZE NEIGHBORHOODS. PIDC ALSO SUPPORTS DEVELOPERS IN FINANCING COMMUNITY-ORIENTED PROJECTS. THROUGH A VARIETY OF FUNDING RESOURCES, EDUCATIONAL PROGRAMS, AND ONE-ON-ONE TECHNICAL SUPPORT, PIDC FILLS CRITICAL GAPS FOR BUSINESS OWNERS AND NONPROFIT LEADERS WHO LACK ACCESS TO TRADITIONAL CAPITAL. IN ADDITION, WE SUPPORT DEVELOPERS PRODUCING TRANSFORMATIVE PROJECTS THAT HAVE A POSITIVE, LASTING IMPACT ACROSS THE CITY- PROVIDING JOBS, SERVICES, AND AMENITIES. IN 2022, PIDC ORIGINATED $35.3 MILLION IN NEW LOANS TO 76 SMALL AND MID-SIZED BUSINESSES, NONPROFITS, AND DEVELOPERS THROUGH CATALYTIC PROJECTS IN NEIGHBORHOODS IN PHILADELPHIA. $20.1 MILLION WAS INVESTED IN MINORITY BUSINESSES. $7.9 MILLION WAS INVESTED IN WOMEN-OWNED BUSINESSES. 62% OF ALL PIDC CORE LENDING WENT TO DIVERSE/MINORITY BUSINESS ENTERPRISES. PIDC ALLOCATED $35.6M OF NEW MARKET TAX CREDITS TO SIX HIGH-IMPACT PROJECTS IN PHILADELPHIA. THE NMTC PROGRAM IS A US TREASURY PROGRAM WHICH UTILIZES FEDERAL TAX CREDITS TO ATTRACT PRIVATE INVESTMENT IN LOW-INCOME COMMUNITIES. THESE PROJECTS CREATE QUALITY JOBS, PROVIDE ESSENTIAL GOODS AND SERVICES, AND STIMULATE ADDITIONAL INVESTMENT IN OUR NEIGHBORHOODS. PIDC HAS WON OVER $418 MILLION IN NMTC ALLOCATION BETWEEN 2007 AND 2022.IN 2022, WE FURTHER EXPANDED OUR BUSINESS SUPPORT SERVICES -EDUCATIONAL WORKSHOPS, ONE-ON-ONE COUNSELING, CREDIT REPAIR, AND NETWORKING EVENTS- DESIGNED TO SUPPORT BUSINESS GROWTH. WHILE ALL IN-PERSON PROGRAMMING TRANSITIONED TO A VIRTUAL ENVIRONMENT BEGINNING IN MARCH 2020 DUE TO THE PANDEMIC, WE CONTINUED TO CONNECT PHILADELPHIA'S SMALL BUSINESS COMMUNITY TO TRUSTED KNOWLEDGE AND RESOURCES VIA VIRTUAL WORKSHOPS. PIDC BUSINESS BUILDER WORKSHOPS ARE YEAR-ROUND WORKSHOPS WHICH PROVIDE CRITICAL BUSINESS EDUCATION TO ENTREPRENEURS AND ORGANIZATIONS FROM EVERY INDUSTRY. PIDC HOSTED 27 WORKSHOPS WITH MORE THAN 781 ATTENDEES. TOPICS INCLUDED BUYING AND FINANCING COMMERCIAL REAL ESTATE, FEDERAL GOVERNMENT CONTRACTING, TAX SEASON PREPARATION, THE HIDDEN ISSUES OF USING REAL ESTATE AS BUSINESS LOAN COLLATERAL, AND BUSINESS EDUCATION AND MENTORING PROGRAMS. IN 2022, PIDC CONTINUED A SERIES OF SPANISH-LANGUAGE WORKSHOPS AS A PART OF OUR STRATEGY TO BETTER SERVE SPANISH-SPEAKING ENTREPRENEURS, ONE OF THE FASTEST GROWING BUSINESS GROUPS IN PHILADELPHIA. THE SERIES IS PART OF PIDC'S BUSINESS BUILDER WORKSHOPS. TOPICS IN THE SERIES INCLUDE BUDGETING, BUILDING CREDIT, CITY RESOURCES, BUYING AND FINANCING COMMERCIAL REAL ESTATE, LEADERSHIP, AND MORE. PLUS, WE PARTICIPATED IN GLOBAL ENTREPRENEURSHIP WEEK WITH A FULLY SPANISH LANGUAGE WORKSHOP DISCUSSING PREPARATION FOR TAX SEASON. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $3,807,738 | ExpenseAmt |
| Grant | $2,050,522 | GrantAmt |
| Revenue | $1,670,935 | RevenueAmt |
| Desc | INVEST IN HIGH IMPACT REVITALIZATION (CONTRACT MANAGEMENT)SEE SCHEDULE OINVEST IN HIGH IMPACT REVITALIZATION: IN 2022, PIDC ADMINISTERED 54 GRANTS TOTALING $55 MILLION FOR PROJECTS ON BEHALF OF THE COMMONWEALTH OF PENNSYLVANIA, CITY OF PHILADELPHIA, AND THE PHILADELPHIA WATER DEPARTMENT. A GRANT FUNDED BY THE PA OFFICE OF THE BUDGET FOR THE ACQUISITION AND CONSTRUCTION OF ECONOMIC DEVELOPMENT, CULTURAL, CIVIC, RECREATIONAL, AND HISTORICAL IMPROVEMENT PROJECTS: SPECIAL PEOPLE IN NORTHEAST (SPIN), A SOCIAL SERVICE PROVIDER WHO HELPS PEOPLE OF ALL AGES WITH INTELLECTUAL OR DEVELOPMENTAL DISABILITIES, RECENTLY FINISHED THE CONSTRUCTION OF A NEW EARLY CHILDHOOD EDUCATION CENTER WITH $850,000 FROM THE REDEVELOPMENT CAPITAL ASSISTANCE PROGRAM. THIS NEW FACILITY HOUSES EIGHT CLASSROOMS AND AN INDOOR/OUTDOOR PLAY SPACE. THIS EXPANSION WILL ALLOW SPACE FOR 40 ADDITIONAL STUDENTS.INVESTING IN PUBLIC WORKS AND COMMUNITY DEVELOPMENT ACROSS THE CITY: THE LOCAL NONPROFIT FAIRMOUNT PARK CONSERVANCY LEADS CAPITAL PROJECTS AND HISTORIC PRESERVATION EFFORTS, FOSTERS NEIGHBORHOOD PARK STEWARDSHIP, ATTRACTS AND LEVERAGES INVESTMENTS, AND DEVELOPS INNOVATIVE PROGRAMS THROUGHOUT THE APPROXIMATELY 10,200 ACRES THAT INCLUDE FAIRMOUNT PARK AND MORE THAN 200 NEIGHBORHOOD PARKS AROUND PHILADELPHIA. FAIRMOUNT PARK CONSERVANCY IS CURRENTLY WORKING ON THE FDR PARK MASTER PLAN. THE PLAN INCLUDES THE CREATION OF THE NEW PATTISON PLAYGROUND AT FDR PARK THAT IS DESIGNED WITH SUSTAINABILITY IN MIND AND FULLY AMERICANS WITH DISABILITIES ACT (ADA) ACCESSIBLE. THIS $2.4 MILLION GRANT HELPS FUND A NEW WORLD CLASS PLAYGROUND CONSISTING OF 93,000 SQUARE FEET OF IMPROVEMENTS, INCLUDING CUSTOM PLAY EQUIPMENT AND CLIMBERS ALONG WITH ASSOCIATED STRUCTURAL FOOTINGS. A PICNIC PAVILION, OUTDOOR FURNISHINGS, A WATER FOUNTAIN, AND A HOSE BIB SUPPORT THE NEW PLAY INFRASTRUCTURE. THE PROJECT INCLUDES 30 NEW TREES ALONG WITH THE PRESERVATION AND MAINTENANCE OF 20 EXISTING TREES.FUNDS THE DESIGN AND CONSTRUCTION OF STORMWATER RETROFIT PROJECTS ON COMMERCIAL, INDUSTRIAL, MULTIFAMILY, AND INSTITUTIONAL PROPERTIES: STORMWATER MANAGEMENT PROJECTS HELP CAPTURE RAINWATER, DECREASE FLOODING AND SEWER OVERFLOWS, AND REDUCE POLLUTION. IN 2022, PIDC STRUCTURED THE SECOND LARGEST SHARED STORMWATER MANAGEMENT PROJECT IN PHILADELPHIA FOR THE PARKING LOTS NEAR CITIZENS BANK PARK, WHICH COMES ONE YEAR AFTER ALSO STRUCTURING AN EVEN LARGER STORMWATER PROJECT IN 2021 ON THE SITE OF A VACANT WAREHOUSE NEAR CITIZENS BANK PARK. THIS PROJECT, CONSTRUCTED IN THREE PHASES STARTING IN 2023, WILL MANAGE 60 GREEN ACRES AROUND THE PHILLIES' HOME. WHEN COMPLETED, IT WILL MANAGE 29 MILLION GALLONS OF RAIN EACH YEAR. TO PUT THAT IN PERSPECTIVE, THAT EQUALS NEARLY 44 OLYMPIC-SIZED SWIMMING POOLS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $3,956,118 | ExpenseAmt |
| Revenue | $4,849,702 | RevenueAmt |
| Desc | CATALYZE OPPORTUNITIES FOR INCLUSIVE GROWTHSEE SCHEDULE OCATALYZE OPPORTUNITIES FOR INCLUSIVE GROWTH: PIDC SEEKS TO TRANSITION UNDERUTILIZED ASSETS INTO PRODUCTIVE USE BRINGS NEW LIFE TO MAJOR AREAS OF THE CITY IN TRANSITION, CREATES JOBS, AND DEVELOPS THE NEXT GENERATION OF JOB-CREATING REAL ESTATE. WHILE LAND SALES WERE LIMITED THIS YEAR, IT WAS AN ACTIVE YEAR FOR COMMERCIAL AND INDUSTRIAL LAND SALES AS PIDC CONTINUED TO POSITION LAND FOR DEVELOPMENT AT THE NAVY YARD AND ON THE LOWER SCHUYLKILL RIVER, WITH ACTIVITY RAMPING UP OVER THE NEXT FEW YEARS.OVER THE LAST DECADE PIDC HAS WORKED TO ASSEMBLE AND REMEDIATE 60 ACRES OF CONTAMINATED INDUSTRIAL LAND ALONG THE WESTERN BANK OF THE SCHUYLKILL RIVER IN SOUTHWEST PHILADELPHIA. A TOTAL OF 20 ACRES HAVE BEEN GIVEN TO THE CITY FOR PUBLIC OPEN SPACE AND EXTENSIONS OF THE SCHUYLKILL RIVER TRAIL. THE REMAINING TWO SITES TOTALING 40 ACRES, WHICH ARE KNOWN AS BARTRAM'S NORTH AND SOUTH DUE TO THEIR LOCATION ADJACENT TO HISTORIC BARTRAM'S GARDEN, HAVE BEEN PREPARED TO SUPPORT NEW INVESTMENT AND DEVELOPMENT AS PART OF THE FUTURE LOWER SCHUYLKILL BIOTECH CAMPUS (LSBC). CONSISTENT WITH THE CITY OF PHILADELPHIA'S LOWER SCHUYLKILL MASTER PLAN, THESE SITES WILL SUPPORT UP TO 850,000 SQUARE FEET OF CELL AND GENE THERAPY AND ADVANCED MANUFACTURING SPACE, ATTRACTING UP TO $550 MILLION IN INVESTMENT AND CREATING UPWARDS OF 900 TO 2,800 JOBS. PIDC IS COMMITTED TO ENSURING THAT THE DEVELOPMENT PROCESS IS EQUITABLE, INCLUSIVE, AND BENEFITS THE NEARBY COMMUNITY. WHEN SUCCESSFULLY REALIZED, THE LSBC WILL BE A COMPETITIVE HOME FOR THE NATION'S LEADING BIOMANUFACTURERS AND THE ADVANCEMENT OF CURES. NEIGHBORING THE CORE RESEARCH INSTITUTIONS AND DRUG DEVELOPMENT FIRMS OF UNIVERSITY CITY IN THE HEART OF THE LOWER SCHUYLKILL INNOVATION DISTRICT, LSBC IS BOUNDED BY THE BEAUTY AND BIODIVERSITY OF THE RIVERFRONT, A HISTORIC BOTANIC GARDEN, AND THE COMMUNITY OF KINGSESSING IN SOUTHWEST PHILADELPHIA.AT THE NAVY YARD, 2022 WAS ANOTHER MAJOR YEAR FOR DEVELOPMENT, PLACEMAKING, AND INVESTMENT, BUILDING ON THE NEARLY 25 YEARS OF TRANSFORMATION PIDC HAS LED IN REDEVELOPING THE BUSINESS DISTRICT. IN JUNE 2022, PIDC AND ENSEMBLE/MOSAIC UNVEILED THE 2022 NAVY YARD PLAN, A TRANSFORMATIVE ROADMAP FOR EQUITABLE GROWTH THAT THROUGHOUT THE NEXT 20 YEARS WILL DELIVER 12,000 NEW JOBS, 8.9 MILLION SQUARE FEET OF NEW LIFE SCIENCE, COMMERCIAL, RESIDENTIAL, RETAIL, AND MIXED-USE DEVELOPMENT AND $6 BILLION OF NEW INVESTMENT - OF WHICH, $4.8 BILLION WILL BE GENERATED BY ENSEMBLE/MOSAIC'S DEVELOPMENT INITIATIVES. THE DYNAMIC NEW PLAN LEVERAGES SUSTAINED GROWTH IN ADVANCED LIFE SCIENCES AND MANUFACTURING, INCREASED ACCESSIBILITY, AND INCLUSIVE MIXED-USE DEVELOPMENT TO DRIVE EQUITABLE ECONOMIC GROWTH, WITH ROBUST OPPORTUNITIES FOR DIVERSE BUSINESSES AND AN EXPANSIVE ARRAY OF QUALITY-WAGE JOBS AND WORKFORCE DEVELOPMENT TRAINING PROGRAMS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $12,366,893 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 101 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 56 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 30 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 30 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | 0 | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | PA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TIFFANY CANADY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2154968136 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 MARKET ST SUITE 3500 WEST | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19102 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (47 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| SALVATORE J PATTI | ||||||||
| CHAIR | 0.19 | 1.13 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ANDREA R ALLON | ||||||||
| VICE CHAIR | 0.19 | 1.13 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| KEVIN R BOYLE | ||||||||
| SECRETARY | 0.19 | 0.53 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| TUMAR ALEXANDER | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| CRAIG R CARNAROLI | ||||||||
| DIRECTOR | 0.19 | 0.47 | Yes (X) | $0 | $0 | $0 | ||
| DOMINIQUE CASIMIR | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| HONORABLE DARRELL L CLARKE | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| DIANA P CORTES ESQ | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| FRED COSENZA | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| ROB DUBOW | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| ANNE FADULLON | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| REGINALD C FULLER III | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| JAY GOLDSTEIN | ||||||||
| DIRECTOR | 0.19 | 1.13 | Yes (X) | $0 | $0 | $0 | ||
| LEE HUANG | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| HONORABLE KENYATTA JOHNSON | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| HONORABLE CURTIS JONES JR | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| LEROY E JONES | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| BRIAN T KEECH | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| HONORABLE JAMES F KENNEY | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| JUAN LOPEZ | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| JENNIFER L MAHER ESQ | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| SUZANNE S MAYES ESQ | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| ELIZABETH A MURPHY | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| ANNE K NADOL | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL K PEARSON | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| BRET PERKINS | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| ANGELO R PERRYMAN | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM R SAUTTER | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| EVELYN F SMALLS | ||||||||
| DIRECTOR | 0.03 | 1.56 | Yes (X) | $0 | $0 | $0 | ||
| ROBERT C WONDERLING | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| ANNE NEVINS | ||||||||
| PRESIDENT | 24.50 | 13.00 | Yes (X) | $385,608 | $0 | $19,111 | ||
| SAM RHOADS | ||||||||
| SVP- EXECUTIVE VICE PRESIDENT | 24.50 | 13.00 | Yes (X) | $276,695 | $0 | $59,120 | ||
| THOMAS QUEENANTHRU 062022 | ||||||||
| TREASURER/SVP-COO | 24.50 | 13.00 | Yes (X) | $272,185 | $0 | $57,562 | ||
| MARLA HAMILTON | ||||||||
| SVP- CLIENT ENGAGEMENT | 37.50 | 0.00 | Yes (X) | $215,013 | $0 | $57,423 | ||
| THOMAS DALFO | ||||||||
| SVP- REAL ESTATE SERVICES | 33.50 | 4.00 | Yes (X) | $220,660 | $0 | $57,808 | ||
| TIFFANY CANADY | ||||||||
| ASST SECRETARY, SVP-CFO | 20.00 | 17.50 | Yes (X) | $220,660 | $0 | $57,507 | ||
| ILENE BURAK | ||||||||
| SVP- LEGAL COUNSEL | 33.50 | 4.00 | Yes (X) | $253,286 | $0 | $59,033 | ||
| KATHLEEN MCNAMARA | ||||||||
| SVP- NAVY YARD | 33.50 | 4.00 | Yes (X) | $228,670 | $0 | $14,804 | ||
| SHAYNE MOORE | ||||||||
| SVP- INFO TECHNOLOGY | 37.50 | 0.00 | Yes (X) | $199,573 | $0 | $5,304 | ||
| CASSIE GARDNER | ||||||||
| ASSISTANT SECRETARY | 37.50 | 0.00 | Yes (X) | $95,416 | $0 | $42,380 | ||
| MARQUIS UPSHUR | ||||||||
| SVP- HUMAN RESOURCES | 37.50 | 0.00 | Yes (X) | $198,572 | $0 | $22,434 | ||
| JENNIFER LUCAS CROWTHERS | ||||||||
| SVP- CAPITALIZATION & IMPACT | 37.50 | 0.00 | Yes (X) | $165,129 | $0 | $58,571 | ||
| NICOLE HENNESSY | ||||||||
| VICE PRESIDENT | 37.50 | 0.00 | $184,274 | $0 | $43,861 | Yes (X) | ||
| CHRISTOPHER CHAPLIN | ||||||||
| VICE PRESIDENT | 30.00 | 7.50 | $187,510 | $0 | $45,120 | Yes (X) | ||
| ANGIE FREDRICKSON | ||||||||
| VICE PRESIDENT | 37.50 | 0.00 | $151,975 | $0 | $5,678 | Yes (X) | ||
| ANYA DAVIS | ||||||||
| VP/ASST GENERAL COUNSEL | 24.50 | 13.00 | $163,949 | $0 | $56,005 | Yes (X) | ||
| MONICA TRUDEAU | ||||||||
| SENIOR PROJECT MANAGER | 37.50 | 0.00 | $140,285 | $0 | $21,275 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,559,460 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $682,996 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 20 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| BDO USA LLP | |||||
| 1801 MARKET STREET SUITE 1700 | PHILADELPHIA | PA | 19103 | ACCOUNTING | $203,704 |
| KORN FERRY | |||||
| 1801 PARKVIEW DRIVE | SHOREVIEW | MN | 55126 | RECRUITMENT | $175,575 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $5,226,641 | GovernmentGrantsAmt |
| Total Contributions | $5,226,641 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SUPPORT SMALL BUSINESS | 900099 | $5,963,653 | $5,963,653 |
| CATALYZE GROWTH | 900099 | $4,246,676 | $4,246,676 |
| INVEST IN HIGH IMPACT | 900099 | $1,670,935 | $1,670,935 |
| LOAN FEES | 900099 | $603,025 | $603,025 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $12,484,289 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $53,314 | TotalRevenueColumnAmt |
| Exclusion | $53,314 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $17,764,244 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,484,289 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $53,314 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,621,480 | TotalAmt |
| Program Services | $2,621,480 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,159,546 | TotalAmt |
| Program Services | $803,078 | ProgramServicesAmt |
| Management And General | $1,356,468 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,393,502 | TotalAmt |
| Program Services | $2,901,642 | ProgramServicesAmt |
| Management And General | $1,491,860 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $277,383 | TotalAmt |
| Program Services | $148,272 | ProgramServicesAmt |
| Management And General | $129,111 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $444,070 | TotalAmt |
| Program Services | $257,012 | ProgramServicesAmt |
| Management And General | $187,058 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $317,879 | TotalAmt |
| Program Services | $216,770 | ProgramServicesAmt |
| Management And General | $101,109 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $328,019 | TotalAmt |
| Program Services | $100,194 | ProgramServicesAmt |
| Management And General | $227,825 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $339,759 | TotalAmt |
| Management And General | $339,759 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $483,891 | TotalAmt |
| Program Services | $263,499 | ProgramServicesAmt |
| Management And General | $220,392 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $839,389 | TotalAmt |
| Management And General | $839,389 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $770,203 | TotalAmt |
| Program Services | $694,381 | ProgramServicesAmt |
| Management And General | $75,822 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| CONDUIT EXPENSES | $3,353,689 | $3,353,689 | |
| OTHER EXPENSES | $1,473,346 | $909,136 | $564,210 |
| DIRECT CONTRACT EXPENSE | $153,140 | $97,740 | $55,400 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,955,296 | TotalAmt |
| Program Services | $12,366,893 | ProgramServicesAmt |
| Management And General | $5,588,403 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,386,335 | BOYAmt |
| EOY | $16,633,988 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,010,588 | BOYAmt |
| EOY | $2,608,166 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $226,117 | BOYAmt |
| EOY | $186,496 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $6,885,260 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $3,575,366 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,242,770 | BOYAmt |
| EOY | $3,309,894 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,569,989 | BOYAmt |
| EOY | $18,472,287 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,435,799 | BOYAmt |
| EOY | $41,210,831 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,674,637 | BOYAmt |
| EOY | $2,327,719 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,357,620 | BOYAmt |
| EOY | $11,558,324 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $728,622 | BOYAmt |
| EOY | $770,922 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,538,965 | BOYAmt |
| EOY | $11,874,966 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,299,844 | BOYAmt |
| EOY | $26,531,931 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,135,955 | BOYAmt |
| EOY | $14,678,900 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,135,955 | BOYAmt |
| EOY | $14,678,900 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,435,799 | BOYAmt |
| EOY | $41,210,831 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$191,052 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $1,733,997 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,042,754 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,079,472 | DepreciationAmt |
| Book Value | $963,282 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $680,478 | OtherCostOrOtherBasisAmt |
| Depreciation | $536,719 | DepreciationAmt |
| Book Value | $143,759 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,162,028 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,959,175 | DepreciationAmt |
| Book Value | $2,202,853 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,309,894 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DUE FROM RELATED PARTIES | $10,660,119 |
| DUE FROM AFFILIATED ENTITIES | $721,769 |
| PREPAID POSTRETIREMENT BENEFITS | $1,553,986 |
| RIGHT OF USE ASSET | $5,536,413 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $18,472,287 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| DUE TO OTHER AGENCIES | $1,399,242 |
| DUE TO RELATED PARTIES | $3,089,397 |
| LT OPERATING LEASE LIABILITY, NET | $6,155,149 |
| DUE TO AFFILIATED ENTITIES | $580,135 |
| CURRENT OPERATING LEASE LIABILITY | $651,043 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $11,874,966 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $11,374,487 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $11,374,487 | RevenueSubtotalAmt |
| Other Revenues Not Included | $6,389,757 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $6,389,757 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $17,764,244 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $10,487,881 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $53,314 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $53,314 | ExpensesNotReportedAmt |
| Expenses Subtotal | $10,434,567 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $7,520,729 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $7,520,729 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $17,955,296 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE ESCROW ACCOUNT REPRESENTS INTEREST EARNED THAT IS PAYABLE TO THE DELAWARE RIVER PORT AUTHORITY ON LOANS MANAGED BY PIDC. |
| PART X, LINE 2: | FIN 48 (ASC 740) FOOTNOTE PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION (PIDC) AND ITS AFFILIATES PRESENT COMBINED FINANCIAL STATEMENTS. THE COMBINED FINANCIAL STATEMENTS FOLLOWS THE GUIDANCE FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A MORE LIKELY THAN NOT THRESHOLD. FOR TAX POSITIONS MEETING THE MORE LIKELY THAN NOT THRESHOLD, THE AMOUNT RECOGNIZED IN THE COMBINED FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAXING AUTHORITY. MANAGEMENT DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS; AS SUCH, NO PROVISION IS RECORDED IN THE COMBINED STATEMENTS OF ACTIVITIES. PIDC IS REQUIRED TO FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE (IRS). INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2018 REMAIN OPEN. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | CONDUIT GRANTS NOT INCLUDED IN THE REVENUE PER FINANCIAL STATEMENTS 5,786,732. LOAN FEES 603,025. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | INVESTMENT INCOME 53,314. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | CHANGE IN PENSION AND POSTRETIREMENT BENEFIT OTHER THAN NET PERIODIC BENEFIT 1,733,997. CONDUIT GRANTS NOT INCLUDED IN THE EXPENSE PER FINANCIAL STATEMENTS 5,786,732. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (24 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt | Address Line2USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|---|
| SUBMITTABLE HOLDINGS INC | ||||||||
| 111 NORTH HIGGINS AVE SUITE 300 | MISSOULA | MT | 59802 | 475485414 | $1,552,611 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENTPHILADELPHIA NAVAL YARD | ||||||||
| 4747 SOUTH BROAD STREET BUILDING | PHILADELPHIA | PA | 19102 | 232237287 | $300,471 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | 101 |
| MONTGOMERY COUNTY COMMERCE DEPT | ||||||||
| 1430 DEKALB STREET | NORRISTOWN | PA | 19401 | 232334149 | $77,241 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| GREATER PHILA TOURISM MKTG CO | ||||||||
| 30 S 17TH STREET SUITE 1710 | PHILADELPHIA | PA | 19103 | 232847538 | $75,000 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| CHESTER COUNTY ECONOMIC DEV FOUNDATION | ||||||||
| 737 CONSTITUTION DRVIE ATTN MIKE | EXTON | PA | 19341 | 231576225 | $71,332 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | GRIGALONIS |
| DELAWARE COUNTY ECONOMIC | ||||||||
| OVERSIGHT BOARD LAURA GOODRICH | MEDIA | PA | 19063 | 232607596 | $59,775 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | CAIRNS 100 WEST 6TH STREET SUITE 10 |
| GREATER BERKS DEV FUND | ||||||||
| 606 COURT STREET | READING | PA | 19601 | 236392284 | $40,854 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| THE CITY OF PHILADELPHIA | ||||||||
| 1 BROAD STREET | PHILADELPHIA | PA | 19102 | 236003047 | $35,000 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| WOFFARD SCULPTURE STUDIO | ||||||||
| PO BOX 2927 | CASHIERS | NC | 28717 | 462094134 | $33,000 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| BUCKS COUNTY ECON DEV CORP | ||||||||
| 1260 ALMSHOUSE ROAD | DOYLESTON | PA | 18901 | 236003044 | $31,374 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| COCO'S CHICKEN AND WAFFLES | ||||||||
| 500 S 52ND STREET | PHILADELPHIA | PA | 19143 | 822457443 | $24,964 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| REPLICA CREATIVE | ||||||||
| 1516 N 5TH STREET STE 302 | PHILADELPHIA | PA | 19122 | 271267024 | $21,260 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| FAIRMOUNT VENTURESINC | ||||||||
| 30 SOUTH 15TH STREET SUITE 500 | PHILADELPHIA | PA | 19102 | 232929881 | $20,364 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| LIFELINE MUSIC COALITION INCARPEGGIO | ||||||||
| 63 W WASHINGTON LANE | PHILADELPHIA | PA | 19144 | 352213500 | $15,250 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| GERMAN AMERICAN MARKETING INC | ||||||||
| 611 SPRING GARDEN STREET | PHILADELPHIA | PA | 19123 | 263011491 | $15,088 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| CULTURE TRUST GREATER PHILADELPHIA | ||||||||
| C/O CULTURE WORKS GTR PHILADELPHIA | PHILADELPHIA | PA | 19107 | 463109411 | $13,750 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | 1315 WALNUT STREET SUITE 320 |
| AMERICAN WOOD DESIGN | ||||||||
| 201 FULTON STREET | CHESTER | PA | 19013 | 270666993 | $13,250 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| AFRICA RECONNECT | ||||||||
| 3600 CONSHOCKEN AVENUE 2211 | PHILADELPHIA | PA | 19131 | 823182152 | $12,882 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| AFRICAN AMERICAN MUSEUM | ||||||||
| ATTN MELLISSA NEWENHOUSE 701 ARCH | PHILADELPHIA | PA | 19102 | 231941617 | $10,452 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | STREET |
| TRUSTEES OF THE UNIV OF PA | ||||||||
| 100 EAST NORTHWESTERN AVENUE | PHILADELPHIA | PA | 19118 | 231352685 | $10,000 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| VENDORS ASSOCIATION OF FDR PARK | ||||||||
| 2149 SOUTH 19TH STREET | PHILADELPHIA | PA | 19145 | 862465462 | $9,450 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| BALL-NOGUES DESIGN STUDIO | ||||||||
| 3533 E OLYMPIC BLVD | LOS ANGELES | CA | 90023 | 611579135 | $8,513 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| THE WOMEN'S COALITION FOR EMPOWERMENT | ||||||||
| PO BOX 2465 ACP 227 | HARRISBURG | PA | 17105 | 274450466 | $6,000 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| FIRST PERSON ARTS | ||||||||
| 1010 W 8TH STREET | WILINGTON | DE | 19806 | 233023995 | $5,500 | $0 | ECONOMIC DEVELOPMENT AND SUPPORTING GROWING BUSINESSES | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 6 | Total501c3OrgCnt |
| Total Other Org | 18 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | PROCEDURES TO MONITOR USE OF GRANT FUNDS PIDC HAS CONTROLS IN PLACE TO ENSURE GRANT PROCEEDS WILL BE DISTRIBUTED AND USED IN ACCORDANCE WITH THE TERMS OF THE GRANT AGREEMENT. A REVIEW OF GRANT PROCEEDS IS DONE DURING THE APPLICATION PROCESS, THROUGH WHICH, GRANTEES REQUEST FUNDS. MANAGEMENT REVIEWS THE DOCUMENTATION PROVIDED BY GRANTEES TO ENSURE THE REQUEST MEETS THE CRITERIA OF THE GRANT AGREEMENT. ADDITIONALLY, DEPENDENT UPON EACH AGREEMENTS' REQUIREMENTS, PIDC MAY RECEIVE REPORTS FROM THE GRANTEES REGARDING THE USE OF THE GRANT FUNDS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (16 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ANNE NEVINS | ||||||||||||||
| PRESIDENT | $322,250 | $0 | $50,000 | $0 | $13,358 | $0 | $10,648 | $0 | $8,463 | $0 | $404,719 | $0 | $0 | $0 |
| SAM RHOADS | ||||||||||||||
| SVP- EXECUTIVE VICE PRESIDENT | $251,695 | $0 | $25,000 | $0 | $0 | $0 | $7,782 | $0 | $51,338 | $0 | $335,815 | $0 | $0 | $0 |
| THOMAS QUEENANTHRU 062022 | ||||||||||||||
| TREASURER/SVP-COO | $247,185 | $0 | $25,000 | $0 | $0 | $0 | $5,682 | $0 | $51,880 | $0 | $329,747 | $0 | $0 | $0 |
| ILENE BURAK | ||||||||||||||
| SVP- LEGAL COUNSEL | $229,636 | $0 | $17,100 | $0 | $6,550 | $0 | $6,725 | $0 | $52,308 | $0 | $312,319 | $0 | $0 | $0 |
| THOMAS DALFO | ||||||||||||||
| SVP- REAL ESTATE SERVICES | $204,460 | $0 | $16,200 | $0 | $0 | $0 | $6,371 | $0 | $51,437 | $0 | $278,468 | $0 | $0 | $0 |
| TIFFANY CANADY | ||||||||||||||
| ASST SECRETARY, SVP-CFO | $204,460 | $0 | $16,200 | $0 | $0 | $0 | $6,205 | $0 | $51,302 | $0 | $278,167 | $0 | $0 | $0 |
| MARLA HAMILTON | ||||||||||||||
| SVP- CLIENT ENGAGEMENT | $207,138 | $0 | $7,875 | $0 | $0 | $0 | $5,958 | $0 | $51,465 | $0 | $272,436 | $0 | $0 | $0 |
| KATHLEEN MCNAMARA | ||||||||||||||
| SVP- NAVY YARD | $212,470 | $0 | $16,200 | $0 | $0 | $0 | $6,371 | $0 | $8,433 | $0 | $243,474 | $0 | $0 | $0 |
| CHRISTOPHER CHAPLIN | ||||||||||||||
| VICE PRESIDENT | $176,310 | $0 | $11,200 | $0 | $0 | $0 | $4,913 | $0 | $40,207 | $0 | $232,630 | $0 | $0 | $0 |
| NICOLE HENNESSY | ||||||||||||||
| VICE PRESIDENT | $172,674 | $0 | $11,600 | $0 | $0 | $0 | $3,708 | $0 | $40,153 | $0 | $228,135 | $0 | $0 | $0 |
| JENNIFER LUCAS CROWTHERS | ||||||||||||||
| SVP- CAPITALIZATION & IMPACT | $160,179 | $0 | $4,950 | $0 | $0 | $0 | $7,491 | $0 | $51,080 | $0 | $223,700 | $0 | $0 | $0 |
| MARQUIS UPSHUR | ||||||||||||||
| SVP- HUMAN RESOURCES | $188,268 | $0 | $10,304 | $0 | $0 | $0 | $4,933 | $0 | $17,501 | $0 | $221,006 | $0 | $0 | $0 |
| ANYA DAVIS | ||||||||||||||
| VP/ASST GENERAL COUNSEL | $153,549 | $0 | $10,400 | $0 | $0 | $0 | $4,757 | $0 | $51,248 | $0 | $219,954 | $0 | $0 | $0 |
| SHAYNE MOORE | ||||||||||||||
| SVP- INFO TECHNOLOGY | $188,373 | $0 | $11,200 | $0 | $0 | $0 | $5,151 | $0 | $153 | $0 | $204,877 | $0 | $0 | $0 |
| MONICA TRUDEAU | ||||||||||||||
| SENIOR PROJECT MANAGER | $134,885 | $0 | $5,400 | $0 | $0 | $0 | $3,978 | $0 | $17,297 | $0 | $161,560 | $0 | $0 | $0 |
| ANGIE FREDRICKSON | ||||||||||||||
| VICE PRESIDENT | $146,125 | $0 | $5,850 | $0 | $0 | $0 | $4,709 | $0 | $969 | $0 | $157,653 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 7 | NON-FIXED PAYMENTS PIDC HAS ESTABLISHED A COMPENSATION PROGRAM TO ENSURE THE SALARIES AND BENEFITS PAID TO OFFICERS AND EMPLOYEES IS FAIR, COMPETITIVE, AND REFLECTIVE OF AN EMPLOYEE'S ACTUAL PERFORMANCE. THE COMPENSATION STRUCTURE EMBEDS A RISK BASED COMPONENT THAT CONSIDERS ACHIEVEMENT OF PERFORMANCE GOALS. |
| SCHEDULE J, PART II, COLUMN C | DEFINED BENEFIT PLAN PIDC OFFERS A DEFINED BENEFIT PLAN (THE "PLAN") TO ITS EMPLOYEES. PARTICIPANTS BECOME ELIGIBLE TO RECEIVE RETIREMENT BENEFITS THE FIRST MONTH ON OR THE NEXT FOLLOWING ATTAINMENT OF AGE 60 AND COMPLETION OF 5 YEARS OF VESTING SERVICE FROM THE DATE THEY BECOME ELIGIBLE PARTICIPANTS OF THE PLAN. EFFECTIVE DECEMBER 31, 2014, THE PLAN'S EXISTING PARTICIPANTS' ACCRUED BENEFITS WERE FROZEN, AND NO NEW PARTICIPANTS WERE ALLOWED INTO THE PLAN. AS A RESULT OF THE PLAN'S FREEZE, THE BENEFIT IS BASED UPON A PARTICIPANT'S SERVICE AND COMPENSATION AS OF DECEMBER 31, 2014, AND EXPRESSED IN THE FORM OF A FIXED MONTHLY BENEFIT FOR HIS/HER LIFE COMMENCING AT NORMAL RETIREMENT. THE FORM 990 REQUIRES MANAGEMENT TO REPORT AS DEFERRED COMPENSATION THE ANNUAL INCREASE OR DECREASE IN ACTUARIAL VALUE, IF ANY, OF A DEFINED BENEFIT PLAN. AS THE CHANGE IN THE PRESENT VALUE OF THE DEFINED BENEFIT PLAN'S LIABILITY DOES NOT CORRESPOND TO THE ACTUAL BENEFIT DUE TO THE PLAN PARTICIPANTS AND THE PLAN WAS FROZEN EFFECTIVE DECEMBER 31, 2014, MANAGEMENT DID NOT REPORT A VALUE WITHIN PART II (C). THE VALUES THAT ARE DISCLOSED IN PART II (C) INCLUDE EMPLOYER 401K CONTRIBUTIONS. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 1: | PIDC HAS BEEN PHILADELPHIA'S PUBLIC-PRIVATE ECONOMIC DEVELOPMENT CORPORATION SINCE 1958. AS A PUBLIC-PRIVATE PARTNERSHIP FOUNDED BY THE CITY OF PHILADELPHIA AND THE CHAMBER OF COMMERCE FOR GREATER PHILADELPHIA, PIDC'S MISSION IS TO SPUR INVESTMENT, SUPPORT BUSINESS GROWTH, AND FOSTER DEVELOPMENTS THAT CREATE JOBS, REVITALIZE NEIGHBORHOODS, AND DRIVE GROWTH TO EVERY CORNER OF PHILADELPHIA. TO ACHIEVE THIS MISSION, PIDC ATTRACTS, MANAGES, AND INVESTS PUBLIC AND PRIVATE RESOURCES IN THE CLIENTS, COMMUNITIES, AND MARKETS THAT ENERGIZE PHILADELPHIA'S ECONOMY. PIDC RELEASED THE 2023-2026 STRATEGIC FRAMEWORK AS A ROADMAP TO ACHIEVE ITS MISSION AND STRIVE TOWARD A MORE INCLUSIVE, EQUITABLE, AND SUSTAINABLE PHILADELPHIA WHERE ALL RESIDENTS BENEFIT FROM ECONOMIC DEVELOPMENT AND A GROWING GLOBAL ECONOMY. IT IS DESIGNED TO HELP PIDC MAKE RESOURCE ALLOCATION AND STRATEGIC PARTNERSHIP DECISIONS THAT ALIGN WITH THE ORGANIZATION'S VISION, MISSION, THEORY OF CHANGE AND TO ALIGN PIDC'S STAKEHOLDERS AROUND A COMMON VISION AND GOAL. THE FRAMEWORK IS GROUNDED IN THREE INTEGRAL AND INTERSECTING LENSES IMPERATIVE TO INFORMING PIDC'S APPROACH TO ACHIEVING AND DELIVERING ON ITS MISSION. LENSES ARE PRINCIPLES THAT INFORM THE WORLD VIEW OR PERSPECTIVE OF PIDC AND PROVIDE FOCUS AND DIRECTION FOR PIDC'S SCOPE AND APPROACH TO ACHIEVING ITS MISSION. THESE THREE LENSES ARE DEFINED BELOW: 1) RACIAL EQUITY: PROGRESSING TOWARD A FAIR AND JUST SOCIETY IN WHICH ALL PEOPLE CAN PARTICIPATE, PROSPER, AND REACH THEIR FULL POTENTIAL AND A WORLD WHERE RACIAL DISPARITIES DO NOT EXIST. 2) FUTURE OF WORK: ADAPTING TO THE MANY FORCES OF CHANGE AFFECTING WORK, THE WORKFORCE, AND THE WORKPLACE. 3) SUSTAINABILITY & RESILIENCE: ADVANCING DEVELOPMENT AND GROWTH IN BALANCE WITH THE ENVIRONMENT TO SUPPORT PRESENT AND FUTURE GENERATIONS |
| FORM 990, PART IV, LINE 35: | SUPPORT SCHEDULE PURSUANT TO SECTION 1.509(A)-4 OF THE TREASURY REGULATIONS, A 501(C)(3) ORGANIZATION CAN BE THE SUPPORTING ORGANIZATION OF A 501(C)(4) ORGANIZATION PROVIDED THAT THE SUPPORTED ORGANIZATION MEETS THE REQUIREMENTS UNDER 509(A)(2). PIDC HAS PROVIDED SCHEDULE A TO SUPPORT THE DETERMINATION THAT PIDC MEETS THE 509(A)(2) TEST. |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS OR STOCKHOLDERS THE MEMBERS OF PIDC ARE THE PERSONS WHO ARE THE DIRECTORS OF THE CORPORATION. THE BUSINESS AND AFFAIRS OF THE CORPORATION ARE MANAGED BY THE DIRECTORS. THE ORGANIZATION HAS THREE CLASSES OF DIRECTORS: 1) 8 CITY DIRECTORS CONSISTING OF THE EIGHT OFFICERS OF THE CITY OF PHILADELPHIA; THE MAYOR OF THE CITY OF PHILADELPHIA, THE DIRECTOR OF COMMERCE, TWO MEMBERS OF THE CITY COUNCIL WHO IS DESIGNATED BY THE PRESIDENT OF CITY COUNCIL, THE DIRECTOR OF PLANNING & DEVELOPMENT, THE CITY SOLICITOR, THE MANAGING DIRECTOR, AND THE DIRECTOR OF FINANCE. 2) 9 CHAMBER OF COMMERCE DIRECTORS NOMINATED BY THE PRESIDENT OF THE GREATER PHILADELPHIA CHAMBER OF COMMERCE. 3) 13 PUBLIC DIRECTORS AS NOMINATED JOINTLY BY THE PRESIDENT OF THE GREATER PHILADELPHIA CHAMBER OF COMMERCE AND THE DIRECTOR OF COMMERCE OF THE CITY OF PHILADELPHIA. |
| FORM 990, PART VI, SECTION A, LINE 7B | DECISIONS SUBJECT TO APPROVAL THE BOARD OF DIRECTORS (COMPRISED OF THE 30 MEMBERS) IS AUTHORIZED TO APPROVE BY APPROPRIATE RESOLUTION THE PURCHASE, SALE, LEASE, MORTGAGE PLEDGE, OR OTHER DISPOSAL OF REAL ESTATE AND THE BORROWING OF MONEY FOR THAT PURPOSE. IN ADDITION, BETWEEN THE TIMES OF THE BOARD OF DIRECTORS MEETINGS, THE EXECUTIVE COMMITTEE HAS THE RIGHT TO EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE CONSISTS OF 17 DIRECTORS INCLUDING THE EIGHT (8) CITY DIRECTORS AND NINE (9) CHAMBER DIRECTORS WHO ARE NAMED TO THE BOARD OF DIRECTORS. THE CHAIRMAN OF THE BOARD OF DIRECTORS IS ALSO THE CHAIRMAN OF THE EXECUTIVE COMMITTEE. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 REVIEW PROCESS PIDC'S ACCOUNTING & FINANCE TEAM ASSEMBLES THE INFORMATION FOR THE FORM 990. THE FORM 990 IS REVIEWED INTERNALLY AND IS PREPARED AND REVIEWED BY PIDC'S OUTSIDE TAX ADVISORS. THE FORM 990 IS REQUIRED TO BE REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS MADE AVAILABLE TO ALL BOARD MEMBERS UPON REQUEST. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT ALL DIRECTORS OF THE ORGANIZATION MUST DISCLOSE THE NATURE AND EXTENT OF ANY INTERESTS, DIRECT OR INDIRECT, CONTACT, AND/OR ACTIVITY RELATED TO SUCH PROJECTS PROMOTED BY THE ORGANIZATION. NO DIRECTOR WHO HAS SUCH AN INTEREST CAN VOTE ON ANY MATTER RELATING TO IT. THE DISCLOSURE IS RETAINED IN THE MINUTE BOOK OF THE ORGANIZATION. IN ADDITION, PIDC HAS INCLUDED A CONFLICT OF INTEREST POLICY WITHIN THE PERSONNEL POLICY MANUAL, AND IS APPLICABLE TO ALL EMPLOYEES OF PIDC (AND ITS COMBINED ENTITIES, TOGETHER THE CORPORATION). FURTHER, ON A PERIODIC BASIS, THE CORPORATION REQUIRES THE OFFICERS OF THE CORPORATION TO DISCLOSE ANY CONFLICTED INTERESTS. |
| FORM 990, PART VI, SECTION B, LINE 15A | PROCESS FOR DETERMINING COMPENSATION THE COMPENSATION FOR PIDC'S CEO IS APPROVED BY THE COMPENSATION COMMITTEE, WHICH INCLUDES THE CHAIR OF THE BOARD OF DIRECTORS AND DESIGNATED BOARD MEMBERS APPOINTED BY THE CHAIR OF THE BOARD OF DIRECTORS. PIDC HAS ESTABLISHED A COMPENSATION PROGRAM TO ENSURE THE COMPENSATION, INCLUDING BONUSES PAID TO OFFICERS AND EMPLOYEES, IS FAIR, COMPETITIVE, AND REFLECTIVE OF EMPLOYEE'S ACTUAL PERFORMANCE. FOR PIDC'S SENIOR EXECUTIVES, THIS INCLUDES ESTABLISHING PERFORMANCE STANDARDS AT THE BEGINNING OF THE YEAR, WHICH ARE USED BY THE CEO TO MEASURE EACH EXECUTIVE'S PERFORMANCE AT YEAR END. PIDC PERIODICALLY PERFORMS PAY-RANGE SURVEYS OF OTHER COMPARABLE EMPLOYERS AND MONITORS TRENDS IN COMPENSATION. IN ADDITION, THE COMPENSATION STRUCTURE EMBEDS A RISK BASED COMPONENT THAT CONSIDERS ACHIEVEMENT OF PERFORMANCE GOALS. |
| FORM 990, PART VI, SECTION C, LINE 19 | PIDC FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS (INCLUDING THE CONFLICT OF INTEREST POLICY) ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC. |
| FORM 990, PART XI, LINE 9: | CHANGE IN PENSION AND POSTRETIREMENT BENEFIT OTHER THAN NET PERIODIC COST 1,733,997. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PIDC- DEVELOPMENT MANAGEMENT CORPORATION | |||||||||||
| 1500 MARKET STREET | PHILADELPHIA | PA | 19102 | 232176818 | ECONOMIC DEVELOPMENT | PA | 501(C)(4) | N/A | N/A | 0 | |
| PIDC- FINANCING CORPORATION | |||||||||||
| 1500 MARKET STREET | PHILADELPHIA | PA | 19102 | 364665239 | ECONOMIC DEVELOPMENT | PA | 501(C)(4) | N/A | N/A | 0 | |
| PIDC- LOCAL DEVELOPMENT CORPORATION | |||||||||||
| 1500 MARKET STREET | PHILADELPHIA | PA | 19102 | 300598934 | ECONOMIC DEVELOPMENT | PA | 501(C)(4) | N/A | N/A | 0 | |
| PIDC COMMUNITY CAPITAL | |||||||||||
| 1500 MARKET STREET | PHILADELPHIA | PA | 19102 | 232889102 | ECONOMIC DEVELOPMENT | PA | 501(C)(3) | 12 TYPE I | Yes (1) | PIDC | |
| PIDC- PENN VENTURE FUND | |||||||||||
| 1500 MARKET STREET | PHILADELPHIA | PA | 19102 | 271585341 | ECONOMIC DEVELOPMENT | PA | 501(C)(4) | N/A | N/A | 0 | |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PIDC RDC NEW MARKETS LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 MARKET STREET | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19102 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 261488016 | EIN |
| Primary Activities | ECONOMIC DEVELOPMENT | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PIDC COMMUNITY CAPITAL | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Predominant Income Type | RELATED | PredominantIncomeTypeTxt |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
| Ownership | 1.00000 | OwnershipPct |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PIDC REGIONAL CAPITAL CORP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 MARKET STREET | AddressLine1Txt |
| City | PHILADELPHIA | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19102 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 231334179 | EIN |
| Primary Activities | ECONOMIC DEVELOPMENT | PrimaryActivitiesTxt |
| Legal Domicile State | PA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PIDC COMMUNITY CAPITAL | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (1) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PIDC-COMMUNITY CAPITAL | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | Q | TransactionTypeTxt |
| Involved | $2,100,000 | InvolvedAmt |
| Method Of Amount Determination | CONTRACTUAL FEE | MethodOfAmountDeterminationTxt |