PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP (EIN 23-6050858)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-15
- IRS object ID
- 202203199349326565
- Schema version
- 2021v4.2
- 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 | 2022-11-15T17:51:55-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | 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 | 2021-01-01 | 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 | 2022-11-15 | 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 |
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 | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | 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 | $13,493,986 | 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 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 | 151 | TotalEmployeeCnt |
| Total Volunteers | 33 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,145,011 | PYContributionsGrantsAmt |
| CY Contributions Grants | $2,623,981 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $11,056,006 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $10,870,005 | CYProgramServiceRevenueAmt |
| PY Investment Income | $6,812 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $13,207,829 | PYTotalRevenueAmt |
| CY Total Revenue | $13,493,986 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $7,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,520,135 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,680,535 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,427,208 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,321,136 | PYOtherExpensesAmt |
| CY Other Expenses | $4,611,318 | CYOtherExpensesAmt |
| PY Total Expenses | $12,009,171 | PYTotalExpensesAmt |
| CY Total Expenses | $13,558,661 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,198,658 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$64,675 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $58,319,183 | TotalAssetsBOYAmt |
| Total Assets EOY | $40,435,799 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $47,346,875 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $27,299,844 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $10,972,308 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $13,135,955 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE OPIDC 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. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $2,923,155 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $3,801,487 | RevenueAmt |
| Desc | SEE SCHEDULE OSUPPORTING GROWING BUSINESSES: 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. IN 2021, PIDC INVESTED MORE THAN $10M OF CAPITAL THROUGH LOANS AND GRANTS TO SMALL AND MID-SIZED BUSINESSES IN EVERY CORNER OF PHILADELPHIA. IN 2021, IT WAS STILL CLEAR THAT NEW RESOURCES WOULD BE NECESSARY TO ADDRESS THE SEVERE ECONOMIC IMPACTS OF THE PANDEMIC. PIDC CREATED NEW FINANCIAL RELIEF PRODUCTS, LEVERAGED TECHNOLOGY TO DELIVER BUSINESS SUPPORT SERVICES TO MORE BUSINESSES THAN WE EVER HAD BEFORE, AND FORGED NEW PARTNERSHIPS WHILE STRENGTHENING EXISTING ONES. IN 2021, PIDC INVESTED $32.6M THROUGH 23 LOANS IN 13 CATALYTIC PROJECTS IN NEIGHBORHOODS THROUGHOUT PHILADELPHIA. IN JANUARY 2021, THE CITY OF PHILADELPHIA AND PIDC LAUNCHED THE PHILADELPHIA COVID-19 RESTAURANT AND GYM RELIEF PROGRAM (RGRP). THE PROGRAM WAS DESIGNED TO PROVIDE FINANCIAL RELIEF TO SMALL BUSINESSES LOCATED IN PHILADELPHIA THAT HAVE BEEN AMONG THE MOST ADVERSELY AFFECTED BY THE PANDEMIC-RELATED RESTRICTIONS ENACTED IN NOVEMBER 2020. ELIGIBLE BUSINESSES WERE RESTAURANTS WITH INDOOR DINING, GYMS, AND BUSINESSES WHOSE PRIMARY ACTIVITY IS INDOOR EXERCISE. GRANT AWARDS WERE UP TO $15,000 PER BUSINESS. THE BUSINESSES THAT RECEIVED AWARDS STRETCH ACROSS 59 ZIP CODES THROUGHOUT PHILADELPHIA, WITH 81 PERCENT LOCATED IN NEIGHBORHOODS OUTSIDE OF CENTER CITY, FROM WAYNE JUNCTION TO POINT BREEZE. ACCORDING TO SELF-REPORTED DEMOGRAPHIC INFORMATION, OVER 50 PERCENT OF AWARDS WENT TO MINORITY BUSINESS OWNERS, WHILE ONE-THIRD WENT TO WOMAN-OWNED BUSINESSES. THE AVERAGE GRANT SIZE WAS $13,200 PER BUSINESS. A TOTAL OF $12.1M WAS AWARDED TO 913 SMALL BUSINESSES IN PHILADELPHIA.ALSO DURING 2021, THE COMMONWEALTH CREATED THE COVID-19 HOSPITALITY INDUSTRY RECOVERY PROGRAM (CHIRP) $145M STATEWIDE FUND TO ALLEVIATE REVENUE LOSSES AND PAY ELIGIBLE OPERATING EXPENSES FOR CERTAIN BUSINESSES IN THE HOSPITALITY INDUSTRY SEVERELY IMPACTED BY THE COVID-19 PANDEMIC. PHILADELPHIA COUNTY RECEIVED APPROXIMATELY $17M IN FUNDING TO PROVIDE GRANTS TO ELIGIBLE BUSINESSES THROUGH THIS PROGRAM. GRANTS WERE AVAILABLE IN THE RANGE FROM $5,000-$50,000. PIDC ADMINISTERED THIS PROGRAM FOR BUSINESSES LOCATED IN PHILADELPHIA IN PARTNERSHIP WITH THE PHILADELPHIA DEPARTMENT OF COMMERCE. PIDC ALSO PARTNERED WITH OTHER COMMUNITY PARTNERS TO DELIVER THIS PROGRAM. MORE THAN $17.4M WAS AWARDED TO 977 HOSPITALITY BUSINESSES IN PHILADELPHIA. DURING 2021, PIDC CONTINUED THE RESTART PHL LOAN PROGRAM EFFORTS THAT WAS LAUNCHED IN 2020 THAT IS DESIGNED TO PROVIDE FLEXIBLE LOW-COST CAPITAL TO SMALL BUSINESSES WITH LESS THAN $5M IN REVENUE AS THEY RE-IMAGINE, PIVOT, AND SUSTAIN THEIR BUSINESSES DURING THE PANDEMIC. THIS PROGRAM PROVIDES FINANCIAL SUPPORT FOR COSTS ASSOCIATED WITH IMPROVED BUSINESS RESILIENCE OR GROWTH, INCLUDING WORKING CAPITAL, FIT-UP, INVENTORY, TECHNOLOGY, MOBILIZATION, STAFFING, AND EMPLOYEE TRAINING. THE LOAN PROGRAM AIMS TO INVEST IN HISTORICALLY DISADVANTAGED COMMUNITIES WITH A SPECIFIC FOCUS ON MINORITY, WOMEN, AND IMMIGRANT-OWNED BUSINESSES AND NONPROFITS LOCATED ON COMMERCIAL CORRIDORS IN LOW-INCOME AREAS. IN 2021, PIDC PROVIDED A TOTAL OF $3.3M IN FINANCING FOR 29 SMALL BUSINESSES THROUGH THE RESTART PHL LOAN, WHICH RANGED FROM $25,000 TO $250,000.IN 2021, WE FURTHER EXPANDED OUR BUSINESS SUPPORT SERVICES - EDUCATIONAL WORKSHOPS, ONE-ON-ONE COUNSELING, AND NETWORKING EVENTS - DESIGNED TO SUPPORT BUSINESS GROWTH. IN MARCH 2020, ALL IN-PERSON SERVICES TRANSITIONED TO A VIRTUAL ENVIRONMENT AS WE CONTINUED TO CONNECT PHILADELPHIA'S SMALL BUSINESS COMMUNITY TO TRUSTED KNOWLEDGE AND RESOURCES. PIDC HOSTED 59 WORKSHOPS WITH MORE THAN 1,900 ATTENDEES. TOPICS INCLUDED EMERGENCY FUNDING FROM THE U.S. SMALL BUSINESS ADMINISTRATION, NEW PIDC FUNDING PROGRAMS, BUSINESS EDUCATION AND MENTORING PROGRAMS. PLUS, WE PARTICIPATED IN GLOBAL ENTREPRENEURSHIP WEEK WITH A PANEL OF THOUGHT-LEADERS DISCUSSING THE TOPIC, "WHAT THE FUTURE HOLDS FOR FUNDING ENTREPRENEURS OF COLOR." IN NOVEMBER 2021, PIDC KICKED OFF AN EIGHT MONTH SERIES OF FULLY 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 - YEAR-ROUND WORKSHOPS WHICH PROVIDE CRITICAL BUSINESS EDUCATION TO ENTREPRENEURS AND ORGANIZATIONS FROM EVERY INDUSTRY. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,792,277 | ExpenseAmt |
| Grant | $2,417,782 | GrantAmt |
| Revenue | $3,043,413 | RevenueAmt |
| Desc | CONTRACT MANAGEMENT: PIDC PROVIDES SERVICES TO MANAGE FUNDING AND DISTRIBUTION OF GRANTS TO BE USED FOR PROJECTS THAT FACILITATE JOB CREATION AND ECONOMIC DEVELOPMENT WITHIN PHILADELPHIA. PIDC ALSO ADMINISTERED 26 GRANTS TOTALING NEARLY $23M FOR STORMWATER AND CAPITAL PROJECTS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,945,252 | ExpenseAmt |
| Grant | $102,353 | GrantAmt |
| Revenue | $4,025,105 | RevenueAmt |
| Desc | SEE SCHEDULE OPROPERTY MANAGEMENT: TRANSITIONING 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. IN 2021, PIDC COMPLETED THREE INDUSTRIAL LAND PORTFOLIO SALES TOTALING 40 ACRES. IT WAS AN ACTIVE YEAR FOR COMMERCIAL AND INDUSTRIAL LAND SALES AS PIDC CONTINUED TO POSITION LAND FOR DEVELOPMENT.IN NOVEMBER 2021, PIDC CLIENT AND MISSOURI-BASED REAL ESTATE DEVELOPMENT FIRM, NORTHPOINT DEVELOPMENT, HELD A GROUNDBREAKING CEREMONY FOR PHILADELPHIA GAS WORKS' (PGW) NORTH OPERATIONS CENTER IN NORTHEAST PHILADELPHIA. PIDC SOLD THE VACANT INDUSTRIAL LAND SITE TO NORTHPOINT DEVELOPMENT, IN JANUARY 2021 FOR THE DEVELOPMENT OF A 208K SF BUILD-TO-SUIT PROJECT FOR PGW. THE NEW BUILDING WILL FEATURE THE LATEST ENERGY-EFFICIENT TECHNOLOGY AND STATE-OF-THE-ART TRAINING FACILITIES TO ENHANCE SERVICE FOR PGW'S CUSTOMERS.PIDC, IN CONJUNCTION WITH THE PHILADELPHIA CITY PLANNING COMMISSION AND THE CITY OF PHILADELPHIA DEPARTMENT OF COMMERCE, LAUNCHED A REQUEST FOR PROPOSALS FOR A CONSULTING TEAM TO PROVIDE PLANNING, LAND USE ECONOMICS, AND MARKET RESEARCH SERVICES IN ORDER TO PRODUCE A NEW PHILADELPHIA MARKET AND LAND USE STRATEGY STUDY THAT ADDRESSES THE FUTURE OF INDUSTRIAL LAND USE AND DEVELOPMENT IN PHILADELPHIA AND ACCOUNTS FOR THE CHANGING NEEDS OF THE SECTOR. THE STUDY WILL BUILD UPON THE PREVIOUS INDUSTRIAL MARKET AND LAND USE STRATEGY REPORT FINALIZED IN 2010, WHILE PRODUCING UPDATED INFORMATION ABOUT PHILADELPHIA'S INDUSTRIAL ACTIVITY, MARKET ANALYSIS, SUPPLY AND DEMAND OF INDUSTRIAL LAND, AND RECOMMENDATIONS ADDRESSING BOTH CURRENT AND FUTURE CHALLENGES AND OPPORTUNITIES OF PHILADELPHIA'S INDUSTRY AND LAND USE.THE NAVY YARD: 2021 WAS A BIG YEAR FOR DEVELOPMENT, PLACEMAKING AND INVESTMENT, AT THE NAVY YARD. IN APRIL 2021, PIDC AND ENSEMBLE/MOSAIC ANNOUNCED THE SELECTION OF JAMES CORNER FIELD OPERATIONS ("FIELD OPERATIONS") TO LEAD THE MASTER PLANNING UPDATE PROCESS FOR THE PHILADELPHIA NAVY YARD. FIELD OPERATIONS HAS ASSEMBLED A TEAM OF 13 SUBJECT MATTER EXPERT CONSULTING FIRMS WITH EXPERTISE IN ARCHITECTURE, COMMUNITY PLANNING, TRANSPORTATION, LIFE SCIENCES LAB AND MANUFACTURING PLANNING, SURVEY AND ENGINEERING, HOUSING AFFORDABILITY AND INCLUSIVE RETAIL INFRASTRUCTURE, LEED/SUSTAINABILITY, WELCOMING PUBLIC SPACES, AND ARTS-BASED ENGAGEMENT. THE PLAN, WHICH WILL BE AN UPDATE AND EXPANSION OF THE INITIAL MASTER PLAN DEVELOPED IN 2004 AND UPDATED IN 2013, WILL BE RELEASED IN MAY 2022.NEARLY HALF OF THE CONTRACT WILL BE PERFORMED BY CERTIFIED MINORITY- AND WOMEN-OWNED BUSINESS ENTERPRISES (MBE/WBE) WITH SPECIALIZED EXPERTISE IN KEY ELEMENTS OF THE PLAN, AND NEARLY ALL HAVE A LOCAL PRESENCE IN THE PHILADELPHIA REGION.IN MAY 2021, PIDC ANNOUNCED THE AWARD FOR A 10-YEAR ELECTRIC UTILITY OPERATIONS AND MAINTENANCE (O&M) SERVICES CONTRACT TO DOMINION ENERGY FOR THE NAVY YARD FOLLOWING A HIGHLY COMPETITIVE SOLICITATION PROCESS. IN NOVEMBER 2021, DOMINION ENERGY TOOK OVER THE O&M SERVICES CONTRACT FOR THE NAVY YARD. DOMINION ENERGY WILL PROVIDE RESPONSIVE ON-SITE MANAGEMENT TO THE NAVY YARD AND ITS CUSTOMERS, WHO WILL GAIN INDUSTRY-LEADING SERVICE RELIABILITY, FINANCIAL PERFORMANCE, INNOVATION, RESPONSIVENESS, AND SERVICE RELIABILITY TO SUPPORT EFFECTIVE RESPONSE TO ROUTINE, URGENT, AND EMERGENCY SERVICE NEEDS AND INTERRUPTIONS.IN AUGUST 2021, MAYOR JIM KENNEY AND LEADERS FROM CITIZENS ENERGY AND PIDC FLIPPED THE SWITCH TO DEDICATE THE 6.4-MEGAWATT BATTERY ENERGY STORAGE SYSTEM (BESS), A 2,240-LITHIUM ION BATTERY SYSTEM WILL PROVIDE A CHEAPER SOURCE OF ENERGY FOR THE BUSINESS TENANTS OF THE NAVY YARD THROUGH PEAK SHAVING TECHNOLOGY WHEN THE DEMAND AND COST OF POWER IS HIGHEST THROUGHOUT THE DAY. AT TIMES WHEN THE PRICE OF ENERGY IS STABLE LOCALLY, THE BESS WILL PARTICIPATE IN THE PENNSYLVANIA-NEW JERSEY-MARYLAND (PJM) INTERCONNECTION'S FREQUENCY REGULATION MARKET TO REGULATE POWER ON THE REGIONAL GRID.PIDC LAUNCHED ITS COLLABORATIVE PROFESSIONAL DEVELOPMENT PROGRAM WITH THE UNIVERSITY CITY DISTRICT'S WEST PHILADELPHIA SKILLS INITIATIVE (WPSI) TO TRAIN PHILADELPHIA RESIDENTS FOR PERMANENT, FULL-TIME, QUALITY-WAGE CAREERS AT THE NAVY YARD. THIS WORKFORCE PROGRAM TRAINS AND CONNECTS PHILADELPHIANS TO ROLES WITH NAVY YARD EMPLOYERS SEEKING TALENT AND WILL BUILD UPON AND EXPAND THE SUCCESSFUL AND PROVEN WPSI PROFESSIONAL DEVELOPMENT MODEL.IN 2021, THE NAVY YARD WORKFORCE SKILLS INITIATIVE (NYSI) IMPLEMENTED TWO PROGRAMS AND CONNECTED 22 PROGRAM GRADUATES TO FULL-TIME PERMANENT EMPLOYMENT WITH TWO NAVY YARD EMPLOYERS, FOUR SEASONS TOTAL LANDSCAPING AND PHILLY SHIPYARD, INC, WITH AT LEAST FOUR ADDITIONAL PROGRAMS SCHEDULED FOR 2022.GROUP X AND THE NAVY YARD LAUNCHED ITS FOURTH COLLABORATIVE PUBLIC ART EXHIBIT, MAGICAL FANTASY (#NAVYYARDMAGIC), A NESTLED WONDERLAND OF IMMERSIVE SPATIAL ARTWORKS BY LONDON-BASED ARTIST MORAG MYERSCOUGH. MAGICAL FANTASY CAN BE FOUND AT THE NAVY YARD'S ICONIC AND HISTORIC MARINE PARADE GROUNDS WHERE IT WILL BE ON VIEW THROUGH OCTOBER 2022. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $8,660,684 | 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 | Yes (1) | 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 | 140 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 151 | 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 (46 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 | |
| TERRY BOOKER | ||||||||
| SECRETARY | 0.19 | 0.88 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| TUMAR ALEXANDER | ||||||||
| DIRECTOR | 0.19 | 0.53 | Yes (X) | $0 | $0 | $0 | ||
| KEVIN R BOYLE | ||||||||
| 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 | ||
| CHRISTINA CAVALIERI | ||||||||
| DIRECTOR (THRU 02/2021) | 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 | ||
| LEROY E JONES | ||||||||
| DIRECTOR | 0.03 | 0.11 | Yes (X) | $0 | $0 | $0 | ||
| HONORABLE CURTIS JONES JR | ||||||||
| DIRECTOR | 0.19 | 0.53 | 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 | ||
| 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 | ||
| BOB MOUL | ||||||||
| DIRECTOR (THRU 02/2021) | 0.03 | 0.11 | 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 | ||
| MICHAEL RASHID | ||||||||
| DIRECTOR (THRU 12/2021) | 0.19 | 0.53 | 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) | $331,000 | $0 | $15,861 | ||
| SAM RHOADS | ||||||||
| SVP- EXECUTIVE VICE PRESIDENT | 24.50 | 13.00 | Yes (X) | $246,684 | $0 | $72,975 | ||
| THOMAS QUEENAN | ||||||||
| TREASURER/SVP-COO | 24.50 | 13.00 | Yes (X) | $240,900 | $0 | $72,135 | ||
| THOMAS DALFO | ||||||||
| SVP- REAL ESTATE SERVICES | 33.50 | 4.00 | Yes (X) | $200,340 | $0 | $65,479 | ||
| TIFFANY CANADY | ||||||||
| ASST SECRETARY, SVP-CFO | 20.00 | 17.50 | Yes (X) | $199,904 | $0 | $64,519 | ||
| ILENE BURAK | ||||||||
| SVP- LEGAL COUNSEL | 33.50 | 4.00 | Yes (X) | $222,670 | $0 | $18,847 | ||
| KATHLEEN MCNAMARA | ||||||||
| SVP- NAVY YARD | 33.50 | 4.00 | Yes (X) | $208,500 | $0 | $11,967 | ||
| CASSIE GARDNER | ||||||||
| ASSISTANT SECRETARY | 30.00 | 7.50 | Yes (X) | $81,869 | $0 | $1,990 | ||
| MARLA HAMILTON | ||||||||
| SVP- CLIENT ENGAGEMENT | 37.50 | 0.00 | $199,895 | $0 | $66,339 | Yes (X) | ||
| NICOLE HENNESSY | ||||||||
| VICE PRESIDENT | 37.50 | 0.00 | $171,750 | $0 | $50,137 | Yes (X) | ||
| CHRISTOPHER CHAPLIN | ||||||||
| VICE PRESIDENT | 37.50 | 0.00 | $170,372 | $0 | $45,554 | Yes (X) | ||
| SHAYNE MOORE | ||||||||
| VICE PRESIDENT | 37.50 | 0.00 | $156,292 | $0 | $54,217 | Yes (X) | ||
| ANGIE FREDRICKSON | ||||||||
| VICE PRESIDENT | 37.50 | 0.00 | $145,475 | $0 | $31,445 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,575,651 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $571,465 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 21 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 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 | $296,118 |
| MANKOGOLDKATCHER & FOXLLP | |||||
| 401 CITY AVENUE | BALA CYNWYD | PA | 19004 | LEGAL | $241,762 |
| CRAFTSMAN TECHNOLOGY GROUP LLC | |||||
| 192 SOUTH STREET SUITE 500 | BOSTON | MA | 02111 | IT SERVICES | $221,536 |
| BALLARD SPAHR LLP | |||||
| 1735 MARKET ST 51ST FLOOR | PHILADELPHIA | PA | 19017 | LEGAL | $179,420 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $2,623,981 | GovernmentGrantsAmt |
| Total Contributions | $2,623,981 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| PROPERTY MANAGEMENT | 900099 | $4,025,105 | $4,025,105 |
| ECONOMIC DEVELOPMENT | 900099 | $3,411,490 | $3,411,490 |
| CONTRACT & GRANT MGMT | 900099 | $3,043,413 | $3,043,413 |
| LOAN FEES | 900099 | $389,997 | $389,997 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $10,870,005 | TotalProgramServiceRevenueAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,493,986 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $10,870,005 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,400,575 | TotalAmt |
| Program Services | $2,400,575 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $119,560 | TotalAmt |
| Program Services | $119,560 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,708,588 | TotalAmt |
| Program Services | $599,400 | ProgramServicesAmt |
| Management And General | $1,109,188 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,312,221 | TotalAmt |
| Program Services | $2,570,959 | ProgramServicesAmt |
| Management And General | $1,741,262 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $747,031 | TotalAmt |
| Program Services | $551,085 | ProgramServicesAmt |
| Management And General | $195,946 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$340,632 | TotalAmt |
| Program Services | -$9,655 | ProgramServicesAmt |
| Management And General | -$330,977 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $517,726 | TotalAmt |
| Program Services | $488,081 | ProgramServicesAmt |
| Management And General | $29,645 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $249,064 | TotalAmt |
| Program Services | $43,112 | ProgramServicesAmt |
| Management And General | $205,952 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,011,217 | TotalAmt |
| Program Services | $639,829 | ProgramServicesAmt |
| Management And General | $371,388 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $594,640 | TotalAmt |
| Program Services | $304,242 | ProgramServicesAmt |
| Management And General | $290,398 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $721,580 | TotalAmt |
| Management And General | $721,580 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $751,603 | TotalAmt |
| Program Services | $676,692 | ProgramServicesAmt |
| Management And General | $74,911 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt | Program ServicesProgramServicesAmt |
|---|---|---|---|
| OTHER EXPENSES | $488,684 | $488,684 | |
| DIRECT CONTRACT EXPENSE | $276,804 | $276,804 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,558,661 | TotalAmt |
| Program Services | $8,660,684 | ProgramServicesAmt |
| Management And General | $4,897,977 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,332,125 | BOYAmt |
| EOY | $23,386,335 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,734,142 | BOYAmt |
| EOY | $2,010,588 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $89,805 | BOYAmt |
| EOY | $226,117 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $5,978,747 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,735,977 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,502,992 | BOYAmt |
| EOY | $3,242,770 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,660,119 | BOYAmt |
| EOY | $11,569,989 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,319,183 | BOYAmt |
| EOY | $40,435,799 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,511,986 | BOYAmt |
| EOY | $2,674,637 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,210,060 | BOYAmt |
| EOY | $9,357,620 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $328,622 | BOYAmt |
| EOY | $728,622 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,296,207 | BOYAmt |
| EOY | $14,538,965 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,346,875 | BOYAmt |
| EOY | $27,299,844 | 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 | $10,972,308 | BOYAmt |
| EOY | $13,135,955 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,972,308 | BOYAmt |
| EOY | $13,135,955 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,319,183 | BOYAmt |
| EOY | $40,435,799 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$64,675 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $2,228,322 | 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 | $2,218,979 | OtherCostOrOtherBasisAmt |
| Depreciation | $856,388 | DepreciationAmt |
| Book Value | $1,362,591 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $611,422 | OtherCostOrOtherBasisAmt |
| Depreciation | $459,407 | DepreciationAmt |
| Book Value | $152,015 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,148,346 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,420,182 | DepreciationAmt |
| Book Value | $1,728,164 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,242,770 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DUE FROM RELATED PARTIES | $10,660,119 |
| DUE FROM RELATED ENTITIES | $909,870 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $11,569,989 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| POST RETIREMENT BENEFITS | $928,817 |
| DUE TO OTHER AGENCIES | $729,242 |
| OTHER LIABILITIES | $839,436 |
| DUE TO RELATED PARTIES | $12,041,470 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $14,538,965 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $10,981,350 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,981,350 | RevenueSubtotalAmt |
| Other Revenues Not Included | $2,512,636 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,512,636 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $13,493,986 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $8,817,703 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $8,817,703 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $4,740,958 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $4,740,958 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $13,558,661 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 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 2,512,636. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | CHANGE IN PENSION AND POSTRETIREMENT BENEFIT OTHER THAN NET PERIODIC BENEFIT 2,228,322. CONDUIT GRANTS NOT INCLUDED IN THE REVENUE PER FINANCIAL STATEMENTS 2,512,636. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (16 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| INTERNATIONAL SCHOLARSHIP AND TUITION SERVICES INC | |||||||
| 1321 MURFREESBORO PIKE SUITE 800 | NASHVILLE | TN | 37217 | 372172698 | $7,500 | $0 | SCHOLARSHIP FUND |
| FAIRMOUNT PARK COMMISS | |||||||
| 30 SOUTH 15TH STREET SUITE 500 | PHILADELPHIA | PA | 19102 | 232929881 | $5,046 | $0 | CONDUIT GRANTS |
| FAIRMOUNT VENTURESINC | |||||||
| 30 SOUTH 15TH STREET SUITE 500 | PHILADELPHIA | PA | 19102 | 232929881 | $5,046 | $0 | CONDUIT GRANTS |
| WELCOME AMERICA INC | |||||||
| 1650 MARKET STREET SUITE 2800NO | PHILADELPHIA | PA | 19103 | 232721729 | $6,000 | $0 | CONDUIT GRANTS |
| BASE FOR BUSINESS | |||||||
| 17262 WILDERNESS TRAIL SE | PRIOR LAKE | MN | 55372 | 262383413 | $6,603 | $0 | CONDUIT GRANTS |
| ED WHEELER PHOTOGRAPHY | |||||||
| 1050 KING OF PRUSSIA RD | RADNOR | PA | 19087 | 232556587 | $6,667 | $0 | CONDUIT GRANTS |
| DELAWARE RIVER WATERFRO | |||||||
| 121 N COLUMBUS BLVD | PHILADELPHIA | PA | 19106 | 231734559 | $7,750 | $0 | CONDUIT GRANTS |
| ELEONE DANCE UNLIMITED | |||||||
| ELEONE DANCE THEATRE PO BOX 54340 | PHILADELPHIA | PA | 19105 | 383816168 | $8,000 | $0 | CONDUIT GRANTS |
| AFRICA RECONNECT | |||||||
| 3600 CONSHOCKEN AVENUE2211 | PHILADELPHIA | PA | 19131 | 823182152 | $11,667 | $0 | CONDUIT GRANTS |
| MIS VIEJOS RESTAURANT | |||||||
| 151-53 W LEHIGH AVENUE | PHILADELPHIA | PA | 19133 | 204222447 | $12,200 | $0 | CONDUIT GRANTS |
| BERKSHIRE COFFEE LLC | |||||||
| 1936 NORTH FRONT STREET | PHILADELPHIA | PA | 19122 | 830795475 | $15,000 | $0 | CONDUIT GRANTS |
| DWAYNE WHARTON & PENNSYLVANIARTNE | |||||||
| 218 E CLIVEDON STREET | PHILADELPHIA | PA | 19119 | 843897358 | $19,000 | $0 | CONDUIT GRANTS |
| GERMAN AMERICAN MARKETI | |||||||
| 611 SPRING GARDEN STREET | PHILADELPHIA | PA | 19123 | 263011491 | $21,000 | $0 | CONDUIT GRANTS |
| SAMUEL STATEN SR PRE A | |||||||
| 658 N WATTS STREET | PHILADELPHIA | PA | 19123 | 831834131 | $150,000 | $0 | CONDUIT GRANTS |
| THE MERCHANTS FUND | |||||||
| 1528 WALNUT STREET SUITE 1004 | PHILADELPHIA | PA | 19102 | 231584975 | $300,000 | $0 | CONDUIT GRANTS |
| SUBMITTABLE HOLDINGS IN | |||||||
| 111 NORTH HIGGINS AVE SUITE 300 | MISSOULA | MT | 59802 | 475485414 | $1,037,600 | $0 | CONDUIT GRANTS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Org | 16 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | CITY OF PHILADELPHIA PROGRAM-ARTS & CULTURE | GrantTypeTxt |
| Recipient | 46 | RecipientCnt |
| Cash Grant | $119,560 | CashGrantAmt |
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. | 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 (12 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 | $289,500 | $0 | $41,500 | $0 | $0 | $0 | $11,574 | $0 | $4,287 | $0 | $346,861 | $0 | $0 | $0 |
| SAM RHOADS | ||||||||||||||
| SVP- EXECUTIVE VICE PRESIDENT | $230,284 | $0 | $16,400 | $0 | $0 | $0 | $21,637 | $0 | $51,338 | $0 | $319,659 | $0 | $0 | $0 |
| THOMAS QUEENAN | ||||||||||||||
| TREASURER/SVP-COO | $224,500 | $0 | $16,400 | $0 | $0 | $0 | $20,255 | $0 | $51,880 | $0 | $313,035 | $0 | $0 | $0 |
| MARLA HAMILTON | ||||||||||||||
| SVP- CLIENT ENGAGEMENT | $191,145 | $0 | $8,750 | $0 | $0 | $0 | $14,874 | $0 | $51,465 | $0 | $266,234 | $0 | $0 | $0 |
| THOMAS DALFO | ||||||||||||||
| SVP- REAL ESTATE SERVICES | $191,340 | $0 | $9,000 | $0 | $0 | $0 | $14,042 | $0 | $51,437 | $0 | $265,819 | $0 | $0 | $0 |
| TIFFANY CANADY | ||||||||||||||
| ASST SECRETARY, SVP-CFO | $191,004 | $0 | $8,900 | $0 | $0 | $0 | $13,217 | $0 | $51,302 | $0 | $264,423 | $0 | $0 | $0 |
| ILENE BURAK | ||||||||||||||
| SVP- LEGAL COUNSEL | $211,870 | $0 | $9,500 | $0 | $1,300 | $0 | $17,619 | $0 | $1,228 | $0 | $241,517 | $0 | $0 | $0 |
| NICOLE HENNESSY | ||||||||||||||
| VICE PRESIDENT | $164,500 | $0 | $7,250 | $0 | $0 | $0 | $9,984 | $0 | $40,153 | $0 | $221,887 | $0 | $0 | $0 |
| KATHLEEN MCNAMARA | ||||||||||||||
| SVP- NAVY YARD | $199,500 | $0 | $9,000 | $0 | $0 | $0 | $3,534 | $0 | $8,433 | $0 | $220,467 | $0 | $0 | $0 |
| CHRISTOPHER CHAPLIN | ||||||||||||||
| VICE PRESIDENT | $163,372 | $0 | $7,000 | $0 | $0 | $0 | $5,347 | $0 | $40,207 | $0 | $215,926 | $0 | $0 | $0 |
| SHAYNE MOORE | ||||||||||||||
| VICE PRESIDENT | $149,292 | $0 | $7,000 | $0 | $0 | $0 | $14,004 | $0 | $40,213 | $0 | $210,509 | $0 | $0 | $0 |
| ANGIE FREDRICKSON | ||||||||||||||
| VICE PRESIDENT | $138,975 | $0 | $6,500 | $0 | $0 | $0 | $13,067 | $0 | $18,378 | $0 | $176,920 | $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, COLUMN (C). THE VALUES THAT ARE DISCLOSED IN PART II, COLUMN (C) INCLUDE EMPLOYER 401K CONTRIBUTIONS. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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. PIDC COMPLETED A COMPENSATION SURVEY IN 2020 FOR ALL STAFF POSITIONS. |
| FORM 990, PART VI, SECTION C, LINE 19 | HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC PIDC FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND 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 2,228,322. |
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 | |
| 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 | $1,850,000 | InvolvedAmt |
| Method Of Amount Determination | CONTRACTUAL FEE | MethodOfAmountDeterminationTxt |