Totals
- Total revenue
- $44,847
- Total expenses
- $840
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $29,003
- Investment income
- $15,844
- Other revenue
- $0
- Total assets, end of year
- $6,545,769
- Total liabilities, end of year
- $314,700
- Net assets or fund balances, end of year
- $6,231,069
- Program services expenses (Part IX)
- $840
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $840
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: ECONOMIC DEVELOPMENT
total $29,003 · related or exempt $29,003
-
3 · Investment income
total $13,026 · excluded $13,026
-
7a · Gross sales of assets other than inventory
securities $2,818
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $2,818
-
7d · Net gain or loss
total $2,818 · excluded $2,818
Functional expenses
Part IX, the statement of functional expenses.
-
24a · Other expenses: DIRECT CONTRACT EXPENSE
total $840 · program services $840
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $5,429,999 · end of year $5,405,913
-
4 · Accounts receivable
beginning of year $1,779 · end of year $2,409
-
13 · Investments: program-related
beginning of year $2,282 · end of year $2,283
-
15 · Other assets
beginning of year $1,121,992 · end of year $1,135,164
-
17 · Accounts payable and accrued expenses
end of year $82
-
19 · Deferred revenue
end of year $8,973
-
21 · Escrow or custodial account liability
beginning of year $25,000 · end of year $25,000
-
25 · Other liabilities
beginning of year $343,990 · end of year $280,645
-
27 · Net assets without donor restrictions
beginning of year $6,187,062 · end of year $6,231,069
Mission and programs · 2022
Mission
SEE SCHEDULE O
Activities or mission (Part I)
PIDC FC ADMINISTERS LOAN PROGRAMS THAT ARE FUNDED BY THE (SEE SCHEDULE O)
-
SUPPORTING GROWING BUSINESSES: INCLUDES THE SERVICING AND ADMINISTRATION OF THE PIDA LOAN PROGRAM THAT ARE FUNDED BY THE COMMONWEALTH OF PENNSYLVANIA. AT DECEMBER 31, 2022 THE PIDA LOAN PORTFOLIO TOTALED $5 MILLION.
Expenses $840 · Revenue $29,003
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Salvatore J PattiSALVATORE J PATTI
CHAIR
- Total calculated
- $0
- Hours/week
- 0.04 + 1.28 related
-
Andrea R AllonANDREA R ALLON
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.04 + 1.28 related
-
Kevin R BoyleKEVIN R BOYLE
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Tumar AlexanderTUMAR ALEXANDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Craig R CarnaroliCRAIG R CARNAROLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Dominique CasimirDOMINIQUE CASIMIR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Honorable Darrell L ClarkeHONORABLE DARRELL L CLARKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Diana P Cortes EsqDIANA P CORTES ESQ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Fred CosenzaFRED COSENZA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Rob DubowROB DUBOW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Anne FadullonANNE FADULLON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Reginald C Fuller IIIREGINALD C FULLER III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Jay GoldsteinJAY GOLDSTEIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 1.28 related
-
Lee HuangLEE HUANG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Honorable Kenyatta JohnsonHONORABLE KENYATTA JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Honorable Curtis Jones JrHONORABLE CURTIS JONES JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Leroy E JonesLEROY E JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Brian T KeechBRIAN T KEECH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Honorable James F KenneyHONORABLE JAMES F KENNEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Juan LopezJUAN LOPEZ
DIRECTOR (AS OF 02/2022)
- Total calculated
- $0
- Hours/week
- 0.02 + 1.7 related
-
Jennifer L Maher EsqJENNIFER L MAHER ESQ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Suzanne S Mayes EsqSUZANNE S MAYES ESQ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Elizabeth A MurphyELIZABETH A MURPHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Anne K NadolANNE K NADOL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Michael K PearsonMICHAEL K PEARSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Bret PerkinsBRET PERKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Angelo R PerrymanANGELO R PERRYMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
William R SautterWILLIAM R SAUTTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 0.13 related
-
Evelyn F SmallsEVELYN F SMALLS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.01 + 1.58 related
-
Robert C WonderlingROBERT C WONDERLING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.04 + 0.68 related
-
Anne NevinsANNE NEVINS
PRESIDENT
- Total calculated
- $404,719
- From this org
- $0
- From related orgs
- $385,608
- Other
- $19,111
- Hours/week
- 0.5 + 37 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 RhoadsSAM RHOADS
SVP- EXECUTIVE VICE PRESIDENT
- Total calculated
- $335,815
- From this org
- $0
- From related orgs
- $276,695
- Other
- $59,120
- Hours/week
- 0.5 + 37 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 QueenanTHOMAS QUEENAN
TREASURER/SVP-COO (THRU 06/2022)
- Total calculated
- $329,747
- From this org
- $0
- From related orgs
- $272,185
- Other
- $57,562
- Hours/week
- 0.5 + 37 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 CanadyTIFFANY CANADY
ASST SECRETARY, SVP-CFO
- Total calculated
- $278,167
- From this org
- $0
- From related orgs
- $220,660
- Other
- $57,507
- Hours/week
- 1 + 36.5 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
-
Thomas DalfoTHOMAS DALFO
SVP- REAL ESTATE SERVICES
- Total calculated
- $278,468
- From this org
- $0
- From related orgs
- $220,660
- Other
- $57,808
- Hours/week
- 1.5 + 36 related
Schedule J breakdown matched by us
- Base
- $0 + $204,460 related
- Bonus
- $0 + $16,200 related
- Other
- $0
- Deferred
- $0 + $6,371 related
- Nontaxable benefits
- $0 + $51,437 related
- Filer's total
- $0 + $278,468 related
-
Ilene BurakILENE BURAK
SVP- LEGAL COUNSEL
- Total calculated
- $312,319
- From this org
- $0
- From related orgs
- $253,286
- Other
- $59,033
- Hours/week
- 1.5 + 36 related
Schedule J breakdown matched by us
- Base
- $0 + $229,636 related
- Bonus
- $0 + $17,100 related
- Other
- $0 + $6,550 related
- Deferred
- $0 + $6,725 related
- Nontaxable benefits
- $0 + $52,308 related
- Filer's total
- $0 + $312,319 related
-
Cassie GardnerCASSIE GARDNER
ASSISTANT SECRETARY
- Total calculated
- $137,796
- From this org
- $0
- From related orgs
- $95,416
- Other
- $42,380
- Hours/week
- 0.5 + 37 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 FC 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, APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
- 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
No itemized grants to organizations 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.
-
PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP
501(C)(4) · ECONOMIC DEVELOPMENT · PA
-
PIDC-DEVELOPMENT MANAGEMENT CORPORATION
501(C)(4) · ECONOMIC DEVELOPMENT · PA
-
PIDC-LOCAL DEVELOPMENT CORPORATION
501(C)(4) · ECONOMIC DEVELOPMENT · PA
-
501(C)(4) · ECONOMIC DEVELOPMENT · PA
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.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
STARTUPPHL SEED FUND I LP
EXCLUDED · INVESTMENTS · DE · 0.83% owned
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303129349305315
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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