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← PIDC COMMUNITY CAPITAL

Form 990 for tax year 2023

Filed by PIDC COMMUNITY CAPITAL.

Totals

Total revenue
$7,672,949
Total expenses
$1,779,857
Contributions and grants received
$3,207,304
Grants paid
$267,544
Program service revenue
$2,640,560
Investment income
$1,825,085
Other revenue
$0
Total assets, end of year
$70,260,615
Total liabilities, end of year
$30,997,083
Net assets or fund balances, end of year
$39,263,532
Program services expenses (Part IX)
$1,774,112
Management and general expenses
$5,745
Fundraising expenses
$0
Program service expenses (Part III)
$1,774,112

Program services were 99.7% 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
    1.3 + 0.2 related

  • ANDREA R ALLON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.75 + 0.56 related

  • JAY GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.3 + 0.2 related

  • JUAN LOPEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.3 + 0.2 related

  • ANNE NEVINS

    PRESIDENT (THRU 01/2023)

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

  • SAM RHOADS

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $336,869
    From this org
    $0
    From related orgs
    $279,745
    Other
    $57,124
    Hours/week
    7.5 + 30 related

    Schedule J breakdown matched by us

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

  • TIFFANY CANADY

    SVP - CFO

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

    Schedule J breakdown matched by us

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

  • JODIE HARRIS

    PRESIDENT (START 06/2023)

    Total calculated
    $210,166
    From this org
    $0
    From related orgs
    $188,040
    Other
    $22,126
    Hours/week
    7.5 + 30 related

    Schedule J breakdown matched by us

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

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 $309

    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
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349325253

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

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