2020-11-16T17:57:07-06:00 2019-12-31 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2019-01-01 236050858 Philadelphia Industrial Development Corporation % TIFFANY CANADY PHIL 2154968020 1500 Market Street Suite 3500West Philadelphia PA 19102 TIFFANY CANADY Sr Vice President 2154968020 2020-11-16 true Russlee Armstrong P00288383 2155614200 2020-11-16 179.6.32.150 23695320203215000155 2020-11-16 P 7D6A286B84D142D89BED4B062292CB9E0EADFCDC 572EA00AEE499876D01B3E3EB758D1494967FEAB 2019 2021-04-22 16:20:28Z John Grady 1500 Market St ste 3500W Philadelphia PA 19102 11621333 false X www.pidcphila.com X 1957 PA PIDC PLANS AND IMPLEMENTS ECONOMIC DEVELO PMENT INITIATIVES WHICH ENHANCE THE COMPETITIVE ENVIRONMENT, GENERATE JOBS AND PRODUCE HIGHER TAX RATABLES THROUGHOUT PHILADELPHIA. 27 27 61 27 0 0 1316014 137010 22112155 11439969 27796 44354 0 0 23455965 11621333 1171857 1000000 0 0 7617454 7952274 0 0 0 10379271 4254518 19168582 13206792 4287383 -1585459 43564184 25920556 29984450 14931472 13579734 10989084 X MISSION STATEMENT 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 GREATER PHILADELPHIA CHAMBER OF COMMERCE, 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. false false 1261483 1003025 3858569 SUPPORTING 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 OWNERS NEEDS. IN 2019, PIDC AND ITS AFFILIATES PROVIDED LOANS TOTALING NEARLY $11.3 MILLION OF CAPITAL TO SMALL AND MIDSIZED BUSINESSES IN PHILADELPHIA. IN ADDITION TO PROVIDING FINANCING, PIDC AND ITS AFFILIATES ALSO PROVIDE BUSINESS SUPPORT SERVICES, WHICH INCLUDES EDUCATIONAL WORKSHOPS, ONE-ON-ONE COUNSELING, AND NETWORKING EVENTS DESIGNED TO CONNECT BUSINESS OWNERS TO THE KNOWLEDGE AND NETWORKS THEY NEED TO SUPPORT GROWTH. DURING 2019, PIDC HELD 55 WORKSHOPS WITH MORE THAN 1,300 ATTENDEES. PIDC ALSO INVESTS IN HIGH-IMPACT COMMUNITY REVITALIZATION PROJECTS TO BRING CRITICAL GOODS AND SERVICES, CREATE JOBS, AND ELIMINATE BLIGHT THROUGHOUT THE CITY. IN 2019, PIDC INVESTED $48 MILLION THROUGH 16 LOANS IN CATALYTIC PROJECTS IN NEIGHBORHOODS THROUGHOUT PHILADELPHIA. 2726979 1283855 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. 2888865 5946186 PROPERTY MANAGEMENT: AT THE NAVY YARD, 2019 WAS A BIG YEAR FOR DEVELOPMENT, PLACEMAKING, AND INVESTMENT. IOVANCE THERAPEUTICS HELD A GROUNDBREAKING AT THE NAVY YARD FOR ITS 136,000 SF FACILITY TO SUPPORT US PRODUCTION TUMOR INFILTRATING LYMPHOCYTES CELL THERAPY PRODUCTS. TAPE PHILADELPHIA: ENTER THE COCOON, AN IMMERSIVE ART EXPERIENCE AT THE NAVY YARD MADE 21.5 MILES OF TRANSLUCENT TAPE- WELCOMED NEARLY 10,000 VISITORS. PIDC ISSUED AN RFQ SEEKING PARTNERS CAPABLE OF PLANNING, DELIVERING, AND MANAGING EXTRAORDINARY OFFICE, R&D, AND MIXED USE RESIDENTIAL DISTINCT DISTRICTS TOTALING APPROX. 109 ACRES. POWERED BY A 35-MEGAWATT UNREGULATED GRID HAD $20 MILLION OF INVESTMENTS IN ELECTRIC UTILITY AND IS ONE OF THE LARGEST UNREGULATED ELECTRICAL DISTRIBUTION SYSTEMS ON THE EAST COAST. ALONG THE LOWER SCHUYLKILL RIVER, PIDC, THE CITY OF PHILADELPHIA, AND PIDC'S PARTNERS CONTINUE TO MAKE EARLY INVESTMENTS TO TRANSFORM THE 3,700 ACRES. THE LAND AMASSED $145 MILLION TOTAL INVESTMENTS THUS FAR. IN 2019, 70 NEW COMPANIES JOINED THE AREA, CREATING 370 JOBS. IN 2019, PIDC COMPLETED THE SOUTHWEST CAPITAL ACCESS PLAN, OUTLINING THE KEY CHALLENGES AND PROVIDING TACTICAL WAYS PIDC AND PARTNER ORGANIZATIONS CAN IMPROVE CAPITAL ACCESS FOR SMALL BUSINESSES AND OTHER STAKEHOLDERS IN SOUTHWEST PHILADELPHIA. PIDC FINALIZED THE TERMS OF A LAND SWAP THAT WILL PROVIDE ITS BARTRAM'S SOUTH DEVELOPMENT SITE AND ALLOW THE BARTRAM'S MILE SEGMENT OF THE SCHUYLKILL RIVER TRAIL TO CONNECT TO 61ST STREET. WORKING WITH THE PHILADELPHIA DEPARTMENT OF COMMERCE, PIDC RELEASED A STUDY FOR LAB SPACE IN PHILADELPHIA. THE LOWER SCHUYLKILL IS ONE OF THE LOCATIONS IN PHILADELPHIA THAT HAS THE CHARACTERISTICS TO SUPPORT DEVELOPMENT OF NEW LAB SPACE. 100848 351359 6978175 false false false false false false false true false true false false true true true false true false false false false false false false false false true false true false false false false false false false false false false false false false true true true false true 146 0 true 61 true true true false false false false false false false X 27 27 false false false false true false true true true false false false true false true true true true false false PA X TIFFANY CANADY 2154968136 1500 MARKET ST SUITE 3500 WEST Philadelphia PA 19102 John Grady President 24.5 13.0 X 425212 0 68086 Sam Rhoads Executive Vice President 24.5 13.0 X 255000 0 57531 Anne Nevins Senior Vice President 24.5 13.0 X 254000 0 55913 Ilene Burak Senior Vice President 33.5 4.0 X 217400 0 54725 Thomas Queenan Senior Vice President 24.5 13.0 X 244000 0 18663 Prema Gupta Senior Vice President 33.5 4.0 X 203684 0 53973 Wanda Speight Senior VP (end 11/2019) 32.5 5.0 X 222556 0 27962 Tom Dalfo Senior Vice President 33.5 4.0 X 193449 0 53010 Tiffany Canady Senior Vice President 20.0 17.5 X 196900 0 44795 Kathleen McNamara Vice President 37.5 0.0 X 159000 0 51034 Marla Hamilton Vice President 37.5 0.0 X 153915 0 24539 Marquis Upshur Senior Vice President 37.5 0.0 X 135530 0 41428 Shayne Moore Vice President 37.5 0.0 X 151914 0 8849 Ralph Brown Vice President 37.5 0.0 X 142502 0 10047 Carmen Zappile Vice President 37.5 0.0 X 137051 0 1522 Cassie Gardner Assistant Secretary 30.0 7.5 X 77260 0 37648 M Walter D' Alessio Chair 0.19 1.13 X X 0 0 0 Andrea Allon Vice Chair 0.19 1.13 X X 0 0 0 Terry Booker Director 0.19 0.88 X 0 0 0 Brian Abernathy Director 0.19 0.53 X 0 0 0 Kevin R boyle Director 0.19 0.53 X 0 0 0 Honorable Jannie Black Director 0.19 0.53 X 0 0 0 Craig Carnaroli Director 0.19 0.53 X 0 0 0 Chirstina Cavalieri Director 0.03 0.1 X 0 0 0 Fred Cosenza Director 0.03 0.1 X 0 0 0 Rob Dubow Director 0.19 0.53 X 0 0 0 Harlod Epps Director 0.19 0.53 X 0 0 0 Anne Fadullon Director 0.19 0.53 X 0 0 0 Jay Goldstein Director 0.19 1.13 X 0 0 0 HONORABLE KENYATTA JOH Director 0.19 0.53 X 0 0 0 LEROY E JONES Director 0.03 0.1 X 0 0 0 Honorable James F Ken Director 0.19 0.53 X 0 0 0 Suzanne S Mayes Director 0.03 0.1 X 0 0 0 Bob Moul Director 0.03 0.1 X 0 0 0 Elizabeth Murphy Director 0.03 0.1 X 0 0 0 Anne K Nadol Director 0.03 0.1 X 0 0 0 Keith orris Director (End 8/2019) 0.03 0.1 X 0 0 0 Salvatore J Patti Director 0.19 0.53 X 0 0 0 Bret Perkins Director 0.19 0.53 X 0 0 0 Angelo R Perryman Director 0.03 0.1 X 0 0 0 Marcel S Pratt Director 0.19 0.53 X 0 0 0 William R Sautter Director 0.03 0.1 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 Alba Martinez Director (End 2/2019) 0.03 0.1 X 0 0 0 3169373 0 609725 23 false true false BDO USA LLP 1801 Market Street Suite 1700 PHILADELPHIA PA 19103 Accounting 296819 CRAFTSMAN TECHNOLOGY GROUP LLC 192 SOUTH STREET SUITE 500 BOSTON MA 02111 IT CONSULTING 148321 2 137010 137010 PROPERTY MANAGEMENT 900099 5946186 5946186 SUPPORTING GROWING BUSINESSES 900099 2559306 2559306 LOAN FEES 900099 1299263 1299263 CONTRACT & GRANT 900099 1283855 1283855 SOFTWARE DEVELOPMENT 900099 351359 351359 11439969 44354 44354 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11621333 11439969 44354 1000000 1000000 0 0 0 2938725 1292157 1646568 0 3259421 1433152 1826269 85785 79828 5957 1239124 668565 570559 429219 199241 229978 0 446619 432714 13905 222425 50890 171535 0 0 0 1334221 538500 795721 0 0 0 0 87499 8920 78579 0 0 0 0 0 356680 0 356680 688432 635767 52665 OTHER EXPENSES 225452 134723 90729 DIRECT CONTRACT EXPENSES 893190 503718 389472 13206792 6978175 6228617 0 29094745 2660556 0 0 0 0 1271062 879162 0 0 0 0 0 0 0 0 94641 209106 4152806 1378490 211681 2774316 0 0 0 0 0 0 0 0 12892055 19397416 43564184 25920556 1725752 1343298 0 0 6031580 5985327 0 0 1097372 629622 0 0 0 0 0 0 21129746 6973225 29984450 14931472 X 13579734 10989084 0 0 13579734 10989084 43564184 25920556 X -1585459 -1005191 X false true X true true true false true X 2218978 222394 1996584 584522 304927 279595 1349306 851169 498137 2774316 DUE FROM RELATED PARTIES 14803771 DUE FROM AFFILIATED PARTIES 4593645 19397416 0 POST RETIREMENT BENEFIT 3034675 DUE TO OTHER AGENCIES 2707666 OTHER LIABILITIES 1230884 6973225 X 11621333 11621333 11621333 14211983 1005191 1005191 13206792 13206792 Schedule D, Part IV, Line 2b Escrow and Custodial Arrangements The Escrow account represents interest earned that is payable to the Delaware River Port Authority on loans managed by PIDC. Schedule D, 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 2016 remain open. Schedule D, Part XII, Line 2D Reconciliation of Expenses The change in pension and postretirement benefit other than net periodic benefit was $1,005,191 at December 31, 2019. true City of Philadelphia 1401 John F Kennedy Blvd Philadelphia PA 19102 government 1000000 Economic Development 1 0 Procedure for Monitoring Use of Grant Funds Inside U.S. 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 false false false false false false false true false John Grady President 319000 0 100000 0 6212 0 24443 0 43643 0 493298 0 0 0 Sam Rhoads Executive Vice President 230000 0 25000 0 0 0 13800 0 43731 0 312531 0 0 0 Anne Nevins Senior Vice President 224000 0 30000 0 0 0 13952 0 41961 0 309913 0 0 0 Thomas Queenan Senior Vice President 224000 0 20000 0 0 0 13530 0 5133 0 262663 0 0 0 Prema Gupta Senior Vice President 193684 0 10000 0 0 0 11018 0 42955 0 257657 0 0 0 Tom Dalfo Senior Vice President 183449 0 10000 0 0 0 10868 0 42142 0 246459 0 0 0 Wanda Speight Senior VP (end 11/2019) 212556 0 10000 0 0 0 11890 0 16072 0 250518 0 0 0 Ilene Burak Senior Vice President 204000 0 8000 0 5400 0 11498 0 43227 0 272125 0 0 0 Tiffany Canady Senior Vice President 189900 0 7000 0 0 0 10543 0 34252 0 241695 0 0 0 Marquis Upshur Senior Vice President 127530 0 8000 0 0 0 7557 0 33871 0 176958 0 0 0 Marla Hamilton Vice President 148715 0 5200 0 0 0 8719 0 15820 0 178454 0 0 0 Shayne Moore Vice President 144914 0 7000 0 0 0 8682 0 167 0 160763 0 0 0 Kathleen McNamara Vice President 154000 0 5000 0 0 0 8236 0 42798 0 210034 0 0 0 Ralph Brown Vice President 135502 0 7000 0 0 0 8172 0 1875 0 152549 0 0 0 Schedule J, 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. Part III, Line 4D SOFTWARE DEVELOPMENT AND MAINTENANCE: PIDC CREATED A SOFTWARE PROGRAM FOR ITS USE THAT IS SPECIFICALLY DESIGNED TO COLLECT, TRACK, AND REPORT THE INFORMATION REQUIRED BY LOCAL, STATE, AND FEDERAL REGULATORS/AUTHORITIES. PIDC LICENSES THE SOFTWARE TO SIMILARLY SITUATED TAX EXEMPT ORGANIZATIONS FOR THE MANAGEMENT OF THEIR LOAN AND GRANT PORTFOLIOS AND REPORTING REQUIREMENTS. 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. PART VI, 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 ARE 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. PART VI, 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 Chair of the Board of Directors is also the Chair of the Executive Committee. PART VI, LINE 11B FORM 990 REVIEW PROCESS PIDC'S ACCOUNTING & FINANCE TEAM ASSEMBLES THE INFORMATION FOR THE FORM 990, SUCH INFORMATION IS REVIEWED INTERNALLY AND THEN THE FORM 990 IS PREPARED BY PIDC'S OUTSIDE TAX ADVISORS. PER THE AUDIT COMMITTEE CHARTER, 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. PART VI, 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. PART VI, 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. PART VI, LINE 15B PROCESS FOR DETERMINING COMPENSATION 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. PART VI, LINE 18 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. PART VI, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC PIDC FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS (INCLUDING THE CONFLICT OF INTEREST POLICY) ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC. PART XI, LINE 9 RECONCILIATION OF NET ASSETS THE CHANGE IN PENSION AND POSTRETIREMENT BENEFIT OTHER THAN NET PERIODIC COST WAS $1,005,191 AT DECEMBER 31, 2019. PIDC- Development Management Corporation 1500 Market Street Philadelphia PA 19102 232176818 Econ Develop. PA 501(c)(4) N/A false PIDC- Financing Corporation 1500 Market Street Philadelphia PA 19102 364665239 Econ Develop. PA 501(c)(4) N/A false PIDC- Local Development Corporation 1500 Market Street Philadelphia PA 19102 300598934 Econ Develop. PA 501(c)(4) N/A false PIDC COMMUNITY CAPITAL 1500 Market Street Philadelphia PA 19102 232889102 Econ Develop. PA 501(c)(3) 11 type 1 PIDC true PIDC- Penn Venture Fund 1500 Market Street Philadelphia PA 19102 271585341 Econ Develop. PA 501(c)(4) N/A false true false false true true false false false false false false false false false true true false false PIDC-COMMUNITY CAPITAL p 1850000 Contractual Fee