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← PIDC-DEVELOPEMENT MANAGEMENT CORPORATION

Form 990 for tax year 2024

Filed by PIDC-DEVELOPEMENT MANAGEMENT CORPORATION.

Totals

Total revenue
$40,000
Total expenses
$40,000
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$40,000
Investment income
$0
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$40,000
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$40,000

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: CONTRACT MANAGEMENT

    total $40,000 · related or exempt $40,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $40,000 · program services $40,000

Balance sheet

Part X, book values.

  • 3 · Pledges and grants receivable

    beginning of year $40,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $40,000 · end of year $0

Mission and programs · 2024

Mission

PIDC DMC ADMINISTERS AND COORDINATES VARIOUS DEVELOPMENT PROJECTS FOR THE CITY AND OTHER NOT-FOR-PROFIT ENTITIES.

Activities or mission (Part I)

ADMINISTERS AND COORDINATES VARIOUS DEVELOPMENT PROJECTS FOR THE CITY AND OTHER NFP ENTITIES.

  • CONTRACT MANAGEMENT: PIDC DMC PROVIDES SERVICES TO MANAGE FUNDING AND DISTRIBUTION OF GRANTS TO BE USED FOR PROJECTS THAT FACILITATE JOB CREATION AND ECONOMIC DEVELOPMENT WITHIN PHILADELPHIA.

    Expenses $40,000 · Revenue $40,000

As filed on the 2024 return.

Listed in Part VII

  • SALVATORE J PATTI

    CHAIR

    Total calculated
    $0
    Hours/week
    0.02 + 1.5 related

  • ANDREA ALLON

    VICE-CHAIR (THRU 6/24)

    Total calculated
    $0
    Hours/week
    0.02 + 1.5 related

  • KEVIN R BOYLE

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • MIGUEL ALBAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • HONORABLE CINDY BASS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • EMILY BITTENBENDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • ANNE BROOKS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • CHELLIE CAMERON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 1.5 related

  • CRAIG CARNAROLI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • DOMINIQUE CASIMIR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • FRED COSENZA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • HONORABLE MICHAEL DRISCOLL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • ROB DUBOW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • RENEE GARCIA ESQ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • JAY GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 1.5 related

  • JOVAN GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • LEE HUANG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • LEROY JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • BRIAN KEECH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • JESSIE LAWRENCE

    DIRECTOR (THRU 10/24)

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • SUN LEE

    DIRECTOR (THRU 10/24)

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • JUAN LOPEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 1.5 related

  • ALBA MARTINEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • SUZANNE S MAYES ESQ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • JOHN MONDLAK

    DIRECTOR (THRU 10/24)

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • DOUGLAS OLIVER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • HONORABLE CHERELLE PARKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • BRET PERKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.75 related

  • ANGELO PERRYMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • THOMAS AK QUEENAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • ADAM THIEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02 + 0.13 related

  • JODIE HARRIS

    PRESIDENT

    Total calculated
    $383,179
    From this org
    $0
    From related orgs
    $341,169
    Other
    $42,010
    Hours/week
    0.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $314,169 related
    Bonus
    $0 + $27,000 related
    Other
    $0
    Deferred
    $0 + $21,604 related
    Nontaxable benefits
    $0 + $20,406 related
    Filer's total
    $0 + $383,179 related

  • SAMUEL RHOADS

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $344,114
    From this org
    $0
    From related orgs
    $290,738
    Other
    $53,376
    Hours/week
    0.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,738 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $17,423 related
    Nontaxable benefits
    $0 + $35,953 related
    Filer's total
    $0 + $344,114 related

  • AMY C LEICHNER

    EVP & CFO (START 9/25)

    Total calculated
    $59,844
    From this org
    $0
    From related orgs
    $54,743
    Other
    $5,101
    Hours/week
    0.5 + 37.5 related

  • KATHLEEN MCNAMARA

    SENIOR VICE PRESIDENT

    Total calculated
    $300,064
    From this org
    $0
    From related orgs
    $226,899
    Other
    $73,165
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $215,091 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $1,808 related
    Deferred
    $0 + $14,449 related
    Nontaxable benefits
    $0 + $58,716 related
    Filer's total
    $0 + $300,064 related

  • ILENE BURAK

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $296,979
    From this org
    $0
    From related orgs
    $224,271
    Other
    $72,708
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,804 related
    Bonus
    $0 + $17,967 related
    Other
    $0 + $6,500 related
    Deferred
    $0 + $13,902 related
    Nontaxable benefits
    $0 + $58,806 related
    Filer's total
    $0 + $296,979 related

  • THOMAS J DALFO

    SENIOR VICE PRESIDENT

    Total calculated
    $282,889
    From this org
    $0
    From related orgs
    $210,933
    Other
    $71,956
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $193,912 related
    Bonus
    $0 + $17,021 related
    Other
    $0
    Deferred
    $0 + $13,171 related
    Nontaxable benefits
    $0 + $58,785 related
    Filer's total
    $0 + $282,889 related

  • JENNIFER LUCAS CROWTHER

    SENIOR VICE PRESIDENT

    Total calculated
    $230,087
    From this org
    $0
    From related orgs
    $161,188
    Other
    $68,899
    Hours/week
    0.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $151,912 related
    Bonus
    $0 + $9,276 related
    Other
    $0
    Deferred
    $0 + $10,235 related
    Nontaxable benefits
    $0 + $58,664 related
    Filer's total
    $0 + $230,087 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 1A
PIDC DMC DOES NOT HAVE ANY PAID EMPLOYEES; ALL OF THE 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 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. ON MAY 14, 2024, THE PIDC RETIREMENT COMMITTEE PASSED A RESOLUTION TO TERMINATE THE PLAN. ON JULY 31, 2024, THE PLAN ADOPTED AN AMENDMENT TO TERMINATE AND LIQUIDATE THE PLAN. ALL PARTICIPANTS WERE FULLY VESTED IN THEIR BENEFITS, WHICH WERE PAID OUT IN A LUMP SUM OR TRANSFERRED TO A NONPARTICIPATING SINGLE PREMIUM GROUP ANNUITY CONTRACT.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202523219349309167

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