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← PIDC COMMUNITY CAPITAL

Form 990 for tax year 2022

Filed by PIDC COMMUNITY CAPITAL.

Totals

Total revenue
$11,497,750
Total expenses
$1,736,303
Contributions and grants received
$6,774,371
Grants paid
$52,108
Program service revenue
$4,538,110
Investment income
$185,269
Other revenue
$0
Total assets, end of year
$73,782,065
Total liabilities, end of year
$40,411,625
Net assets or fund balances, end of year
$33,370,440
Program services expenses (Part IX)
$1,503,157
Management and general expenses
$233,146
Fundraising expenses
$0
Program service expenses (Part III)
$1,503,157

Program services were 86.6% 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
    0.75 + 0.56 related

  • ANDREA R ALLON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.75 + 0.56 related

  • JAY GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.75 + 0.56 related

  • JUAN LOPEZ

    DIRECTOR (AS OF 02/2022)

    Total calculated
    $0
    Hours/week
    0.15 + 0.56 related

  • ANNE NEVINS

    PRESIDENT

    Total calculated
    $404,719
    From this org
    $0
    From related orgs
    $385,608
    Other
    $19,111
    Hours/week
    7.5 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $322,250 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $13,358 related
    Deferred
    $0 + $10,648 related
    Nontaxable benefits
    $0 + $8,463 related
    Filer's total
    $0 + $404,719 related

  • SAM RHOADS

    SVP- EXECUTIVE VICE PRESIDENT

    Total calculated
    $335,815
    From this org
    $0
    From related orgs
    $276,695
    Other
    $59,120
    Hours/week
    7.5 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $251,695 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $7,782 related
    Nontaxable benefits
    $0 + $51,338 related
    Filer's total
    $0 + $335,815 related

  • THOMAS QUEENAN THRU 062022

    TREASURER/SVP-COO

    Total calculated
    $329,747
    From this org
    $0
    From related orgs
    $272,185
    Other
    $57,562
    Hours/week
    7.5 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $247,185 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $5,682 related
    Nontaxable benefits
    $0 + $51,880 related
    Filer's total
    $0 + $329,747 related

  • TIFFANY CANADY

    ASST SECRETARY, SVP-CFO

    Total calculated
    $278,167
    From this org
    $0
    From related orgs
    $220,660
    Other
    $57,507
    Hours/week
    8.5 + 29 related

    Schedule J breakdown matched by us

    Base
    $0 + $204,460 related
    Bonus
    $0 + $16,200 related
    Other
    $0
    Deferred
    $0 + $6,205 related
    Nontaxable benefits
    $0 + $51,302 related
    Filer's total
    $0 + $278,167 related

  • CASSIE GARDNER

    ASSISTANT SECRETARY

    Total calculated
    $137,796
    From this org
    $0
    From related orgs
    $95,416
    Other
    $42,380
    Hours/week
    3 + 34.5 related

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, and on a Form 990-PF Part VIII's — 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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3:
PIDC CC DOES NOT HAVE ANY PAID EMPLOYEES; ALL COMPENSATION TO OFFICERS REPORTED ON PART VII OF THE FORM 990 WAS PAID BY A RELATED ORGANIZATION, PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION (PIDC). THE RELATED ORGANIZATION UNDERTAKES A THOROUGH PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION THAT IT PAYS TO ITS TOP MANAGEMENT OFFICIALS IS REASONABLE GIVEN THE MARKET IN WHICH IT OPERATES. THE RELATED ORGANIZATION CHECKS THE FOLLOWING BOXES ON ITS FORM 990: QUESTION 3- COMPENSATION COMMITTEE AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
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.

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PIDC RDC NEW MARKETS LLC

    RELATED · ECONOMIC DEVELOPMENT · DE · 100% owned · share of income $304 · share of assets $15,812

    Directly controlled by PIDC CC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202313129349305181

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