2021-11-12T11:14:00-06:00 2020-12-31 366055558 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2020-01-01 236050858 PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION PHIL 2154968020 1500 MARKET STREET NO 3500W PHILADELPHIA PA 19102 TIFFANY CANADY SR. VICE PRESIDENT 2154968136 2021-11-12 1 TIFFANY CANADY XXX-XX-XXXX RUSSLEE ARMSTRONG P00288383 2155614200 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ANNE NEVINS 1500 MARKET STREET NO 3500W PHILADELPHIA PA 19102 13207829 0 X WWW.PIDCPHILA.COM X 1957 PA PIDC PLANS AND IMPLEMENTS ECONOMIC DEVELOPMENT INITIATIVES WHICH ENHANCE THE COMPETITIVE ENVIRONMENT, GENERATE JOBS AND PRODUCE HIGHER TAX RATABLES THROUGHOUT PHILADELPHIA. 30 30 132 36 0 0 137010 2145011 11439969 11056006 44354 6812 0 0 11621333 13207829 1000000 7500 0 0 7952274 7680535 0 0 0 4254518 4321136 13206792 12009171 -1585459 1198658 25920556 58319183 14931472 47346875 10989084 10972308 X 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. 0 0 2989833 2053513 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 2020, PIDC INVESTED MORE THAN $10.7M OF CAPITAL THROUGH LOANS AND GRANTS TO SMALL AND MID-SIZED BUSINESSES IN EVERY CORNER OF PHILADELPHIA. IN 2020, IT BECAME 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. PIDC ALSO INVESTED $40M THROUGH 16 LOANS IN CATALYTIC PROJECTS IN NEIGHBORHOODS THROUGHOUT PHILADELPHIA.IN MARCH, THE CITY OF PHILADELPHIA AND PIDC LAUNCHED THE PHILADELPHIA COVID-19 SMALL BUSINESS RELIEF FUND AS A TIERED GRANT AND LOAN PROGRAM DESIGNED TO SUPPORT PHILADELPHIA SMALL BUSINESSES THAT MAKE UNDER $5M IN ANNUAL REVENUE TO HELP MAINTAIN PAYROLL OBLIGATIONS AND PRESERVE JOBS. THIS FUND WAS DESIGNED TO SUPPORT BUSINESSES THAT WERE AFFECTED BY SHUTDOWNS DURING THE PANDEMIC. MORE THAN $13.3M WAS AWARDED TO 2,083 SMALL BUSINESSES IN PHILADELPHIA. IN JULY 2020, PIDC LAUNCHED THE RESTART PHL LOAN PROGRAM DESIGNED TO PROVIDE FLEXIBLE LOW-COST CAPITAL TO SMALL BUSINESSES WITH LESS THAN $5M IN REVENUE AS THEY RE-IMAGINED, PIVOTED, AND SUSTAINED THEIR BUSINESSES DURING THIS UNPRECEDENTED TIME. THIS PROGRAM PROVIDES FINANCIAL SUPPORT FOR COSTS ASSOCIATED WITH IMPROVED BUSINESS RESILIENCE OR GROWTH, INCLUDING WORKING CAPITAL, FIT-UP, INVENTORY, TECHNOLOGY, MOBILIZATION, RE-HIRING, AND EMPLOYEE TRAINING. THE FUND AIMS TO INVEST IN HISTORICALLY DISADVANTAGED COMMUNITIES WITH A SPECIFIC FOCUS ON MINORITY, WOMEN, AND IMMIGRANT-OWNED BUSINESSES LOCATED ON COMMERCIAL CORRIDORS IN LOW-INCOME AREAS. IN 2020, PIDC PROVIDED A TOTAL OF $1.5M IN FINANCING FOR 13 SMALL BUSINESSES THROUGH THE RESTARTPHL LOAN, WHICH RANGED FROM $25,000 TO $250,000.IN 2020, 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 46 WORKSHOPS WITH MORE THAN 2,700 ATTENDEES. TOPICS INCLUDED NAVIGATING LEGAL MATTERS AS A BUSINESS OWNER, MANAGING BUSINESS IMPACTS AND RESPONSES TO COVID-19, MANAGING CASH FLOW, BUILDING CREDIT, ACCESSING FINANCIAL RESOURCES, AND MAINTAINING EMOTIONAL WELL-BEING DURING THE PANDEMIC AND CIVIL UNREST. 402727 7500 4964661 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 30 GRANTS TOTALING NEARLY $30M FOR STORMWATER AND CAPITAL PROJECTS. 3693454 0 4037832 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. COVID-19 HAS CHANGED THE SUPPLY CHAIN IMPACTS FOR WHOLESALE AND RETAIL AND CREATED MASSIVE INCREASES IN THE ALREADY INCREASING ONLINE RETAIL SPACE. DURING THIS UNPRECEDENTED TIME, PHILADELPHIA HAS CONTINUED TO SEE SIGNIFICANT REAL ESTATE DEVELOPMENT IN THIS BOOMING INDUSTRIAL SECTOR. FOR THE THREE YEARS ENDING IN DECEMBER 2020, NEARLY EIGHT-MILLION SQUARE FEET OF EITHER PROPOSED, UNDERWAY, OR COMPLETED NEW OR NEWLY RENOVATED INDUSTRIAL SPACE IN PHILADELPHIA. THIS INCLUDES MORE THAN THREE-MILLION SQUARE FEET OF COMPLETED DEVELOPMENT AND MORE THAN FOUR-MILLION SQUARE FEET ARE ON TRACK TO START CONSTRUCTION OVER THE NEXT 12-18 MONTHS. PHILADELPHIA'S EMERGENCE AS AN EAST COAST LOGISTICS HUB WILL BE SOLIDIFIED BY HILCO DEVELOPMENT PARTNERS' PROPOSAL TO DEVELOP 13 MILLION SQUARE FEET OF A MULTI-MODAL LOGISTICS CENTER ON THE SITE OF THE SHUTTERED PHILADELPHIA ENERGY SOLUTIONS REFINERY OVER THE NEXT DECADE. THE NAVY YARD: IN JULY 2020, AFTER A YEAR-LONG COMPETITIVE PROCESS THAT ATTRACTED MORE THAN 35 DEVELOPMENT TEAMS FROM ACROSS THE COUNTRY, WE ANNOUNCED THE SELECTION OF A TEAM COMPRISED OF ENSEMBLE REAL ESTATE INVESTMENTS AND MOSAIC DEVELOPMENT PARTNERS AS OUR DEVELOPMENT PARTNERS FOR 109 ACRES IN THE NAVY YARD. THE NEXT PHASE OF DEVELOPMENT WILL FURTHER ESTABLISH THE NAVY YARD AS A VIBRANT AND INCLUSIVE MIXED-USE COMMUNITY, OFFERING WORLD-CLASS LIFE SCIENCE MANUFACTURING, R&D, AND OFFICE SPACE, AS WELL AS HOTELS, RETAIL SPACE, MAKERSPACE, AND FOR THE FIRST TIME RESIDENTIAL UNITS. PIDC AND THE ENSEMBLE/MOSAIC TEAM ENVISION UP TO $2.5 BILLION OF NEW PRIVATE INVESTMENT THAT WILL DRIVE MANY THOUSANDS OF NEW CONSTRUCTION AND PERMANENT JOBS. A KEY ASPECT OF THE VISION OF THIS DYNAMIC AND VIBRANT CAMPUS IS THAT IT PROVIDES OPPORTUNITIES FOR ALL PHILADELPHIANS. IN ALIGNMENT WITH PIDC AND ENSEMBLE/MOSAIC'S COMMITMENT TO DIVERSITY, EQUITY, AND INCLUSION, THE ENSEMBLE/MOSAIC TEAM IS DEPLOYING A ROBUST AND NOVEL APPROACH TO DIVERSITY, EQUITY, AND INCLUSION IN ALL ELEMENTS OF DEVELOPMENT. IN 2020, "AMERICA'S COOLEST SHIPYARD" REMAINED OPEN AND CONTINUED TO BE A PLACE FOR SOCIALLY DISTANCED GATHERING, OUTDOOR ACTIVITIES, AND BUSINESS OPERATIONS FOR ITS TENANTS. IN FACT, THE NAVY YARD LAUNCHED ANOTHER OUTDOOR ARTWORK INSTALLATION IN THE FALL IN PARTNERSHIP WITH GROUP X MYSTERY ISLAND AND THE MARVELOUS OCCURRENCE OF SPONTANEOUS ART (CODE NAME: M.I.M.O.S.A.) A COLLECTION OF SIX NEW TEMPORARY WORKS OF PUBLIC ART CREATED BY A DIVERSE GROUP OF INDIVIDUAL ARTISTS THAT PLAYED WITH THE BUILT ENVIRONMENT OF PHILADELPHIA'S FORMER LEAGUE ISLAND.PIDC LAUNCHED ITS COLLABORATIVE PROFESSIONAL DEVELOPMENT PROGRAM WITH THE WEST PHILADELPHIA SKILLS INITIATIVE (WPSI) IN SUMMER 2020 TO TRAIN PHILADELPHIA RESIDENTS FOR PERMANENT, FULL-TIME, QUALITY-WAGE CAREERS AT THE NAVY YARD. THIS WORKFORCE PROGRAM WILL TRAIN AND CONNECT PHILADELPHIANS TO ROLES WITH NAVY YARD EMPLOYERS SEEKING TALENT AND WILL BUILD UPON AND EXPAND THE SUCCESSFUL AND PROVEN WPSI PROFESSIONAL DEVELOPMENT MODEL. 7086014 0 1 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 1215 0 1 132 1 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 1 0 1 1 1 0 0 0 1 0 1 1 1 1 0 0 PA X TIFFANY CANADY 2154968136 1500 MARKET ST SUITE 3500 WEST PHILADELPHIA PA 19102 M WALTER D'ALESSIO CHAIR (THRU 02/2020) 0.19 1.13 X X 0 0 0 SALVATORE J PATTI CHAIR (FROM 02/2020) 0.19 1.13 X X 0 0 0 ANDREA ALLON VICE CHAIR 0.19 1.13 X X 0 0 0 TERRY BOOKER SECRETARY 0.19 0.88 X X 0 0 0 BRIAN ABERNATHY DIRECTOR (THRU 02/2020) 0.19 0.53 X 0 0 0 TUMAR ALEXANDER DIRECTOR 0.19 0.53 X 0 0 0 HONORABLE JANNIE BLACKWELL DIRECTOR (THRU 02/2020) 0.19 0.53 X 0 0 0 KEVIN R BOYLE DIRECTOR 0.19 0.53 X 0 0 0 CRAIG CARNAROLI DIRECTOR 0.19 0.53 X 0 0 0 CHRISTINA CAVALIERI DIRECTOR 0.03 0.10 X 0 0 0 HONORABLE DARRELL L CLARKE DIRECTOR 0.19 0.53 X 0 0 0 DIANA CORTEZ DIRECTOR 0.19 0.53 X 0 0 0 FRED COSENZA DIRECTOR 0.03 0.10 X 0 0 0 ROB DUBOW DIRECTOR 0.19 0.53 X 0 0 0 HAROLD EPPS DIRECTOR (THRU 02/2020) 0.19 0.53 X 0 0 0 ANNE FADULLON DIRECTOR 0.19 0.53 X 0 0 0 REGINALD FULLER III DIRECTOR 0.03 0.10 X 0 0 0 JAY GOLDSTEIN DIRECTOR 0.19 1.13 X 0 0 0 HONORABLE KENYATTA JOHNSON DIRECTOR 0.19 0.53 X 0 0 0 LEROY E JONES DIRECTOR 0.03 0.10 X 0 0 0 HONORABLE CURTIS JONES JR DIRECTOR 0.19 0.53 X 0 0 0 BRIAN KEECH DIRECTOR 0.03 0.10 X 0 0 0 HONORABLE JAMES F KENNEY DIRECTOR 0.19 0.53 X 0 0 0 JENNIFER MAHER DIRECTOR 0.03 0.10 X 0 0 0 SUZANNE S MAYES DIRECTOR 0.19 0.53 X 0 0 0 BOB MOUL DIRECTOR 0.03 0.10 X 0 0 0 ELIZABETH MURPHY DIRECTOR 0.03 0.10 X 0 0 0 ANNE K NADOL DIRECTOR 0.03 0.10 X 0 0 0 MICHAEL PEARSON DIRECTOR 0.03 0.10 X 0 0 0 BRET PERKINS DIRECTOR 0.19 0.53 X 0 0 0 ANGELO R PERRYMAN DIRECTOR 0.03 0.10 X 0 0 0 MARCEL S PRATT DIRECTOR (THRU 02/2020) 0.19 0.53 X 0 0 0 MICHAEL RASHID DIRECTOR 0.19 0.52 X 0 0 0 WILLIAM R SAUTTER DIRECTOR 0.03 0.10 X 0 0 0 EVELYN SMALLS DIRECTOR 0.03 1.56 X 0 0 0 ROBERT C WONDERLING DIRECTOR 0.19 0.52 X 0 0 0 JOHN GRADY PRESIDENT (THRU 02/2020) 24.50 13.00 X 480805 0 15861 ANNE NEVINS PRESIDENT (FROM 02/2020) 24.50 13.00 X 329500 0 72975 SAM RHOADS SVP- EXECUTIVE VICE PRESIDENT 24.50 13.00 X 260823 0 72135 ILENE BURAK SVP- GENERAL COUNSEL 33.50 4.00 X 218385 0 66339 KATHLEEN MCNAMARA SVP- NAVY YARD 33.50 4.00 X 209500 0 64519 THOMAS QUEENAN TREASURER/SVP-COO 24.50 13.00 X 254500 0 18847 THOMAS DALFO SVP- REAL ESTATE SERVICES 33.50 4.00 X 198750 0 65479 TIFFANY CANADY SVP- FINANCIAL REPORTING & ACCT 20.00 17.50 X 202414 0 54217 PREMA GUPTA SENIOR VICE PRESIDENT 33.50 4.00 X 216058 0 11967 MARQUIS UPSHUR SENIOR VICE PRESIDENT 37.50 0.00 X 138020 0 50137 CASSIE GARDNER ASSISTANT SECRETARY 30.00 7.50 X 81938 0 45554 MARLA HAMILTON VICE PRESIDENT 37.50 0.00 X 190800 0 31445 NICOLE HENNESSY VICE PRESIDENT 37.50 0.00 X 170990 0 28838 CHRISTOPHER CHAPLIN VICE PRESIDENT 37.50 0.00 X 147000 0 20205 SHAYNE MOORE VICE PRESIDENT 37.50 0.00 X 153872 0 11883 ANGIE FREDRICKSON VICE PRESIDENT 37.50 0.00 X 132964 0 1990 3386319 0 632391 23 0 1 0 NAVIGATE 955 CHESTERBROOK BLVD WAYNE PA 19087 IT SERVICES 649014 CRAFTSMAN 192 SOUTH STREET SUITE 500 BOSTON MA 02111 IT SERVICES 593540 SCHNADER ATTORNEYS AT LAW 1600 MARKET STREET PHILADELPHIA PA 19103 LEGAL 243707 BDO USA LLP 1801 MARKET STREET SUITE 1700 PHILADELPHIA PA 19103 ACCOUNTING 229118 APEX IT GROUP 525 FELLOWSHIP ROAD MOUNT LAUREL NJ 08054 IT SERVICES 145978 7 2000000 145011 2145011 PROPERTY MANAGEMENT 900099 4037832 4037832 ECONOMIC DEVELOPMENT 900099 3346966 3346966 CONTRACT & GRANT MGMT 900099 2964661 2964661 LOAN FEES 900099 706547 706547 11056006 6812 6812 13207829 11056006 0 6812 7500 7500 2337750 802500 1535250 3895292 2320834 1574458 1030210 662186 368024 417283 216780 200503 787445 693686 93759 248585 40642 207943 942378 686891 255487 186887 80365 106522 635907 635907 769699 714684 55015 OTHER EXPENSES 526196 526196 DIRECT CONTRACT EXPENSE 224039 224039 12009171 7086014 4923157 0 2660556 35332125 879162 8734142 209106 89805 5517389 2014397 2774316 3502992 19397416 10660119 25920556 58319183 1343298 2511986 5985327 9210060 629622 328622 6973225 35296207 14931472 47346875 X 10989084 10972308 10989084 10972308 25920556 58319183 X 1198658 -1215434 X 0 1 X 1 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 2218978 539391 1679587 584522 380850 203672 2713889 1094156 1619733 3502992 DUE FROM RELATED PARTIES 10660119 10660119 POST RETIREMENT BENEFITS 3728172 DUE TO OTHER AGENCIES 5686920 OTHER LIABILITIES 1035160 DUE TO RELATED PARTIES 21471623 DUE TO AFFILIATED ENTITIES 3374332 35296207 X 13207829 0 13207829 0 13207829 13224605 1215434 1215434 12009171 0 12009171 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 2017 REMAIN OPEN. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PENSION AND POSTRETIREMENT BENEFIT OTHER THAN NET PERIODIC BENEFIT 1,215,434. 1 INTERNATIONAL SCHOLARSHIP AND TUITION SERVICES INC 1321 MURFREESBORO PIKE SUITE 800 NASHVILLE TN 37217 372172698 7500 SCHOLARSHIP FUND 1 PART I, LINE 2: PROCEDURES TO MONITOR USE OF GRANT FUNDS PIDC HAS CONTROLS IN PLACE TO ENSURE GRANT PROCEEDS WILL BE USED AND DISTRIBUTED 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. X X 0 0 0 0 0 0 0 1 0 JOHN GRADY PRESIDENT (THRU 02/2020) 311574 0 100000 0 69231 0 11574 0 4287 0 496666 0 0 0 ANNE NEVINS PRESIDENT (FROM 02/2020) 289500 0 40000 0 0 0 21637 0 51338 0 402475 0 0 0 SAM RHOADS SVP- EXECUTIVE VICE PRESIDENT 230823 0 30000 0 0 0 20255 0 51880 0 332958 0 0 0 ILENE BURAK SVP- GENERAL COUNSEL 209035 0 8000 0 1350 0 14874 0 51465 0 284724 0 0 0 KATHLEEN MCNAMARA SVP- NAVY YARD 199500 0 10000 0 0 0 13217 0 51302 0 274019 0 0 0 THOMAS QUEENAN TREASURER/SVP-COO 224500 0 30000 0 0 0 17619 0 1228 0 273347 0 0 0 THOMAS DALFO SVP- REAL ESTATE SERVICES 191250 0 7500 0 0 0 14042 0 51437 0 264229 0 0 0 TIFFANY CANADY SVP- FINANCIAL REPORTING & ACCT 193414 0 9000 0 0 0 14004 0 40213 0 256631 0 0 0 PREMA GUPTA SENIOR VICE PRESIDENT 183460 0 10000 0 22598 0 3534 0 8433 0 228025 0 0 0 MARLA HAMILTON VICE PRESIDENT 185800 0 5000 0 0 0 13067 0 18378 0 222245 0 0 0 NICOLE HENNESSY VICE PRESIDENT 163490 0 7500 0 0 0 11337 0 17501 0 199828 0 0 0 MARQUIS UPSHUR SENIOR VICE PRESIDENT 132020 0 6000 0 0 0 9984 0 40153 0 188157 0 0 0 CHRISTOPHER CHAPLIN VICE PRESIDENT 147000 0 0 0 0 0 2908 0 17297 0 167205 0 0 0 SHAYNE MOORE VICE PRESIDENT 148872 0 5000 0 0 0 11715 0 168 0 165755 0 0 0 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. 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 MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. 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 -1,215,434. 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 PIDC 1 PIDC- PENN VENTURE FUND 1500 MARKET STREET PHILADELPHIA PA 19102 271585341 ECONOMIC DEVELOPMENT PA 501(C)(4) N/A N/A 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 PIDC-COMMUNITY CAPITAL P 1850000 CONTRACTUAL FEE