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Nonprofiteer
← PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP

Form 990 for tax year 2023

Filed by PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP.

Totals

Total revenue
$20,971,900
Total expenses
$21,088,394
Contributions and grants received
$1,739,689
Grants paid
$1,623,058
Program services expenses (Part IX)
$14,702,796
Management and general expenses
$6,385,598
Fundraising expenses
$0
Program service expenses (Part III)
$14,702,796

Program services were 69.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • SALVATORE J PATTI

    CHAIR

    Total calculated
    $0
    Hours/week
    0.2 + 1.3 related

  • ANDREA ALLON

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.2 + 1.3 related

  • KEVIN R BOYLE

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • MIGUEL ALBAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • TUMAR ALEXANDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • EMILY BITTENBENDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • CRAIG R CARNAROLI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • DOMINIQUE CASIMIR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • DIANA P CORTES ESQ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • FRED COSENZA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • HONORABLE CURTIS JONES JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • HONORABLE DARRELL L CLARKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • ROB DUBOW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • ANNE FADULLON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • REGINALD C FULLER III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • JAY GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 1.3 related

  • JOVAN GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • LEE HUANG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • HONORABLE JAMES F KENNEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • LEROY E JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • BRIAN T KEECH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • HONORABLE KENYATTA JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • JUAN LOPEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 1.3 related

  • SUZANNE S MAYES ESQ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • ELIZABETH A MURPHY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • ANNE K NADOL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • BRET PERKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.55 related

  • ANGELO PERRYMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • THOMAS AK QUEENAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • WILLIAM R SAUTTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.05 + 0.08 related

  • JODIE HARRIS

    PRESIDENT (START 06/2023)

    Total calculated
    $210,166
    From this org
    $188,040
    From related orgs
    $0
    Other
    $22,126
    Hours/week
    24.5 + 13 related

    Schedule J breakdown matched by us

    Base
    $188,040
    Bonus
    $0
    Other
    $0
    Deferred
    $10,188
    Nontaxable benefits
    $11,938
    Filer's total
    $210,166

  • SAM RHOADS

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $336,869
    From this org
    $279,745
    From related orgs
    $0
    Other
    $57,124
    Hours/week
    24.5 + 13 related

    Schedule J breakdown matched by us

    Base
    $244,745
    Bonus
    $35,000
    Other
    $0
    Deferred
    $17,100
    Nontaxable benefits
    $40,024
    Filer's total
    $336,869

  • TIFFANY CANADY

    SVP - CFO

    Total calculated
    $298,166
    From this org
    $237,312
    From related orgs
    $0
    Other
    $60,854
    Hours/week
    20.5 + 17 related

    Schedule J breakdown matched by us

    Base
    $202,312
    Bonus
    $35,000
    Other
    $0
    Deferred
    $14,700
    Nontaxable benefits
    $46,154
    Filer's total
    $298,166

  • ILENE BURAK

    SVP AND GENERAL COUNSEL

    Total calculated
    $288,727
    From this org
    $217,026
    From related orgs
    $0
    Other
    $71,701
    Hours/week
    33.5 + 4 related

    Schedule J breakdown matched by us

    Base
    $193,505
    Bonus
    $17,021
    Other
    $6,500
    Deferred
    $13,556
    Nontaxable benefits
    $58,145
    Filer's total
    $288,727

  • KATHLEEN MCNAMARA

    EVP - THE NAVY YARD

    Total calculated
    $285,078
    From this org
    $213,560
    From related orgs
    $0
    Other
    $71,518
    Hours/week
    33.5 + 4 related

    Schedule J breakdown matched by us

    Base
    $190,908
    Bonus
    $22,652
    Other
    $0
    Deferred
    $13,373
    Nontaxable benefits
    $58,145
    Filer's total
    $285,078

  • SHAYNE MOORE

    SVP - INFORMATION TECHNOLGY

    Total calculated
    $226,278
    From this org
    $212,382
    From related orgs
    $0
    Other
    $13,896
    Hours/week
    33.5 + 4 related

    Schedule J breakdown matched by us

    Base
    $191,376
    Bonus
    $21,006
    Other
    $0
    Deferred
    $12,872
    Nontaxable benefits
    $1,024
    Filer's total
    $226,278

  • THOMAS DALFO

    SVP - REAL ESTATE SERVICES

    Total calculated
    $274,441
    From this org
    $203,809
    From related orgs
    $0
    Other
    $70,632
    Hours/week
    33.5 + 4 related

    Schedule J breakdown matched by us

    Base
    $187,684
    Bonus
    $16,125
    Other
    $0
    Deferred
    $12,843
    Nontaxable benefits
    $57,789
    Filer's total
    $274,441

  • MARLA HAMILTON

    SVP - CLIENT ENGAGEMENT

    Total calculated
    $238,668
    From this org
    $205,850
    From related orgs
    $0
    Other
    $32,818
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $190,172
    Bonus
    $15,678
    Other
    $0
    Deferred
    $12,486
    Nontaxable benefits
    $20,332
    Filer's total
    $238,668

  • MARQUIS UPSHUR

    SVP - HUMAN RESOURCES

    Total calculated
    $254,393
    From this org
    $195,890
    From related orgs
    $0
    Other
    $58,503
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $174,884
    Bonus
    $21,006
    Other
    $0
    Deferred
    $12,401
    Nontaxable benefits
    $46,102
    Filer's total
    $254,393

  • LAWRENCE MCCOMIE

    SVP AND CHIEF CREDIT OFFICER

    Total calculated
    $215,143
    From this org
    $202,038
    From related orgs
    $0
    Other
    $13,105
    Hours/week
    24.5 + 13 related

    Schedule J breakdown matched by us

    Base
    $187,084
    Bonus
    $14,954
    Other
    $0
    Deferred
    $12,081
    Nontaxable benefits
    $1,024
    Filer's total
    $215,143

  • JENNIFER LUCAS CROWTHER

    SVP- CAPITALIZATION & IMPACT

    Total calculated
    $219,591
    From this org
    $152,110
    From related orgs
    $0
    Other
    $67,481
    Hours/week
    24.5 + 13 related

    Schedule J breakdown matched by us

    Base
    $139,720
    Bonus
    $12,390
    Other
    $0
    Deferred
    $9,868
    Nontaxable benefits
    $57,613
    Filer's total
    $219,591

  • ANNE NEVINS

    PRESIDENT (THRU 01/2023)

    Total calculated
    $85,388
    From this org
    $83,676
    From related orgs
    $0
    Other
    $1,712
    Hours/week
    30 + 7.5 related

  • CHRISTOPHER CHAPLIN

    VP - PORTFOLIO MANAGEMENT

    Total calculated
    $224,079
    From this org
    $156,227
    From related orgs
    $0
    Other
    $67,852
    Hours/week
    33.5 + 4 related

    Schedule J breakdown matched by us

    Base
    $145,029
    Bonus
    $11,198
    Other
    $0
    Deferred
    $9,908
    Nontaxable benefits
    $57,944
    Filer's total
    $224,079

  • NICOLE HENNESSY

    VP - CONTROLLER

    Total calculated
    $219,982
    From this org
    $152,212
    From related orgs
    $0
    Other
    $67,770
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $147,212
    Bonus
    $5,000
    Other
    $0
    Deferred
    $9,866
    Nontaxable benefits
    $57,904
    Filer's total
    $219,982

  • ANYA DAVIS

    VP AND ASST GENERAL COUNSEL

    Total calculated
    $202,774
    From this org
    $135,674
    From related orgs
    $0
    Other
    $67,100
    Hours/week
    33.5 + 4 related

    Schedule J breakdown matched by us

    Base
    $125,276
    Bonus
    $10,398
    Other
    $0
    Deferred
    $9,200
    Nontaxable benefits
    $57,900
    Filer's total
    $202,774

  • KEVIN LESSARD

    VP, MARKETING & COMMUNICATIONS

    Total calculated
    $173,735
    From this org
    $147,110
    From related orgs
    $0
    Other
    $26,625
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $147,110
    Bonus
    $0
    Other
    $0
    Deferred
    $8,012
    Nontaxable benefits
    $18,613
    Filer's total
    $173,735

  • ANGIE FREDRICKSON

    VP, REAL ESTATE

    Total calculated
    $153,134
    From this org
    $144,959
    From related orgs
    $0
    Other
    $8,175
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $138,720
    Bonus
    $6,239
    Other
    $0
    Deferred
    $7,312
    Nontaxable benefits
    $863
    Filer's total
    $153,134

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

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 I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349326466

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.