RIDC SOUTHWESTERN PENNSYLVANIA GROWTH FUND: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- RIDC SOUTHWESTERN PENNSYLVANIA GROWTH FUND (EIN 25-1603768)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202423209349302267
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-15T06:44:02-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 251467156 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SISTERSON & CO LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 501 GRANT STREET SUITE 450 | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15219 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 251603768 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RIDC OF SOUTHWESTERN PENNSYLVANIA | BusinessNameLine1Txt |
| Business Name Line2 | GROWTH FUND | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | RIDC | BusinessNameControlTxt |
| Phone | 4123156440 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 267 KAPPA DRIVE | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15238 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARIAN D KURTA | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 4123156440 | PhoneNum |
| Signature | 2024-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | PUGNE MELISSA | PreparerPersonNm |
| PTIN | P01288890 | PTIN |
| Phone | 4122812025 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MARIAN D KURTA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 267 KAPPA DRIVE | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15238 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $10,070,372 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.RIDC.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1989 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC TESTING FOR PUBLIC SAFETY, LITERARY, EDUCATIONAL TRAINING, COMMUNITY DEVELOPMENT, COMMUNITY CONSERVATISM, AND OTHER PUBLIC SERVICE PURPOSES PERMITTED WITHIN THE SCOPE OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $10,874,823 | PYContributionsGrantsAmt |
| CY Contributions Grants | $6,420,289 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $2,664,304 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $2,667,528 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,577,041 | PYInvestmentIncomeAmt |
| CY Investment Income | $968,755 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $8,600 | CYOtherRevenueAmt |
| PY Total Revenue | $16,116,168 | PYTotalRevenueAmt |
| CY Total Revenue | $10,065,172 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $12,295,559 | PYOtherExpensesAmt |
| CY Other Expenses | $15,734,360 | CYOtherExpensesAmt |
| PY Total Expenses | $12,295,559 | PYTotalExpensesAmt |
| CY Total Expenses | $15,734,360 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $3,820,609 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$5,669,188 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $113,446,644 | TotalAssetsBOYAmt |
| Total Assets EOY | $117,522,975 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $110,875,489 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $125,621,008 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,571,155 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$8,098,033 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC TESTING FOR PUBLIC SAFETY, LITERARY, EDUCATIONAL TRAINING, COMMUNITY DEVELOPMENT, COMMUNITY CONSERVATISM, AND OTHER PUBLIC SERVICE PURPOSES PERMITTED WITHIN THE SCOPE OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $15,734,360 | ExpenseAmt |
| Revenue | $2,667,528 | RevenueAmt |
| Desc | THIS ORGANIZATION PROVIDES SUPPORT TO AN EXEMPT REGIONAL ECONOMIC DEVELOPMENT ORGANIZATION IN AN EFFORT TO PROVIDE BUSINESS EXPANSION AND JOB OPPORTUNITIES IN DEPRESSED COMMUNITIES BY ADAPTIVE RE-USE DEVELOPMENT OF UNDERUTILIZED MANUFACTURING FACILITIES. | Desc |
| Total Program Service Expenses | $15,734,360 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | Yes (1) | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 19 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARIAN D KURTA TREASURER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4123156440 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 267 KAPPA DRIVE | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15238 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|
| SMITH DONALD F JR | |||||||||
| PRESIDENT | 4.00 | 43.00 | Yes (X) | Yes (X) | $0 | $624,782 | $43,865 | ||
| KURTZROCK MARK JAY | |||||||||
| DIRECTOR/VICE CHAIRMAN | 0.50 | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| STEPHENSON SAMUEL J | |||||||||
| CHAIRMAN/DIRECTOR | 0.50 | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| HUNT WILLIAM | |||||||||
| DIRECTOR/VICE CHAIRMAN | 0.50 | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MCNULTY TIMOTHY P | |||||||||
| DIRECTOR | 0.50 | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| GIOVANNITTI JENNIFER | |||||||||
| DIRECTOR | 0.50 | 1.50 | Yes (X) | $0 | $0 | $0 | |||
| MONDI PATRICK | |||||||||
| DIRECTOR | 0.50 | 1.50 | Yes (X) | $0 | $0 | $0 | |||
| RUSSO AUDREY | |||||||||
| DIRECTOR | 0.50 | 1.50 | Yes (X) | $0 | $0 | $0 | |||
| WHITE TIMOTHY F | |||||||||
| SENIOR VP - DEVELOPMENT | 4.00 | 43.00 | Yes (X) | $0 | $377,057 | $50,654 | |||
| HOBBES JASON W | |||||||||
| CORPORATE SECRETARY | 4.00 | 43.00 | Yes (X) | $0 | $218,100 | $39,603 | |||
| GOLDSTROM MICHAEL | |||||||||
| SENIOR VP - REAL ESTATE | 4.00 | 42.50 | Yes (X) | $0 | $297,129 | $43,766 | |||
| KURTA MARIAN D | |||||||||
| TREASURER | 4.00 | 43.00 | Yes (X) | $0 | $122,235 | $33,399 | |||
| PINELLI CHRISTOPHER | |||||||||
| DIRECTOR, PROPERTY MGMT | 4.00 | 42.50 | $0 | $179,565 | $21,649 | Yes (X) | |||
| HEINRICHER MICHAEL | |||||||||
| DIRECTOR, ASSET MANAGEMENT | 4.00 | 43.00 | $0 | $160,532 | $35,928 | Yes (X) | |||
| BUECHLI JOHN | |||||||||
| SENIOR CONSTRUCTION MANAGER | 4.00 | 42.50 | $0 | $143,149 | $34,580 | Yes (X) | |||
| MILLER KEITH | |||||||||
| DIRECTOR OF SITE DEVELOPMENT | 4.00 | 42.50 | $0 | $149,368 | $35,636 | Yes (X) | |||
| COOPER JENI | |||||||||
| DIRECTOR OF COMMUNITY INVESTMENT | 4.00 | 42.50 | $0 | $127,325 | $21,554 | Yes (X) | |||
| JOYCE DENNIS M RET 62022 | |||||||||
| FORMER CHIEF OPERATING OFFICER | 0.00 | 0.00 | $0 | $150,000 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $2,549,242 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $360,634 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| P J DICK INC | |||||
| PO BOX 6774 | PITTSBURGH | PA | 15212 | CONSTRUCTION SERVICES | $7,901,295 |
| MELE & MELE & SONS INC | |||||
| ONE MELE PLACE | BRADDOCK | PA | 15104 | CONSTRUCTION SERVICES | $4,649,508 |
| ALBERT HIGLEY CO LLC | |||||
| 3636 EUCLID AVENUE | CLEVEAND | OH | 44115 | CONSTRUCTION SERVICES | $1,744,890 |
| NELSON MULLINS RILEY & SCARBOROUGH LLP | |||||
| 1320 MAIN STREET 17TH FLOOR | COLUMBIA | SC | 29201 | LAW FIRM SERVICES | $969,077 |
| ST MORITZ BUILDING SERVICES INC | |||||
| C/O FIRST COMMONWEALTH BANK PO B | GREENSBURG | PA | 15601 | CLEANING SERVICES | $156,055 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $1,435,000 | RelatedOrganizationsAmt |
| Government Grants | $4,935,289 | GovernmentGrantsAmt |
| All Other Contributions | $50,000 | AllOtherContributionsAmt |
| Total Contributions | $6,420,289 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| RENTAL INCOME | 531120 | $2,640,217 | $2,640,217 |
| SERVICE & MANAGEMENT | 532000 | $27,311 | $27,311 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $2,667,528 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $700,655 | TotalRevenueColumnAmt |
| Exclusion | $700,655 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $273,300 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,200 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $268,100 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $268,100 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $268,100 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER REVENUE | Desc |
| Business | 531390 | BusinessCd |
| Total Revenue Column | $8,600 | TotalRevenueColumnAmt |
| Exclusion | $8,600 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $8,600 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,065,172 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,935,628 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $709,255 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $80,630 | TotalAmt |
| Program Services | $80,630 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,624 | TotalAmt |
| Program Services | $7,624 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,449 | TotalAmt |
| Program Services | $14,449 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $170,339 | TotalAmt |
| Program Services | $170,339 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,052 | TotalAmt |
| Program Services | $8,052 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,653 | TotalAmt |
| Program Services | $6,653 | ProgramServicesAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,377 | TotalAmt |
| Program Services | $9,377 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,145,597 | TotalAmt |
| Program Services | $2,145,597 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,869 | TotalAmt |
| Program Services | $2,869 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,356,101 | TotalAmt |
| Program Services | $1,356,101 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $383,392 | TotalAmt |
| Program Services | $383,392 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $102,420 | TotalAmt |
| Program Services | $102,420 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| IMPAIRMENT | $9,546,832 | $9,546,832 |
| FORGIVEN DEBT | $942,080 | $942,080 |
| MAINTENANCE | $424,572 | $424,572 |
| UTILITIES | $419,680 | $419,680 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $113,693 | TotalAmt |
| Program Services | $113,693 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,734,360 | TotalAmt |
| Program Services | $15,734,360 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,313,931 | BOYAmt |
| EOY | $2,125,961 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,602 | BOYAmt |
| EOY | $64,581 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,000,000 | BOYAmt |
| EOY | $1,784,815 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $820,869 | BOYAmt |
| EOY | $1,032,740 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,242,340 | BOYAmt |
| EOY | $33,577,540 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $80,605 | BOYAmt |
| EOY | $25,125 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $23,142,760 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,358,804 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $748,376 | BOYAmt |
| EOY | $21,783,956 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,169,061 | BOYAmt |
| EOY | $8,229,061 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,033,860 | BOYAmt |
| EOY | $48,899,196 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,446,644 | BOYAmt |
| EOY | $117,522,975 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,480,075 | BOYAmt |
| EOY | $97,477,844 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $217,551 | BOYAmt |
| EOY | $275,578 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,177,863 | BOYAmt |
| EOY | $27,867,586 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $110,875,489 | BOYAmt |
| EOY | $125,621,008 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,571,155 | BOYAmt |
| EOY | -$8,098,033 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,571,155 | BOYAmt |
| EOY | -$8,098,033 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,446,644 | BOYAmt |
| EOY | $117,522,975 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$5,669,188 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$5,000,000 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type1 | Yes (X) | SupportingOrgType1Ind |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | REGIONAL INDUSTRIAL DEVELOPMENT CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 251033264 | EIN |
| Organization Type | 10 | OrganizationTypeCd |
| Governing Document Listed | Yes (1) | GoverningDocumentListedInd |
| Support | $15,734,360 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $15,734,360 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (1) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | Yes (1) | SupportedOrgSectionC456Ind |
| Supported Org Qualified | Yes (1) | SupportedOrgQualifiedInd |
| Suprt Exclusively Sec170c2 B | Yes (1) | SuprtExclusivelySec170c2BInd |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | 0 | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type1 Suprt Org Form990SchAType1SuprtOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Power Appoint Majority Dir Trst | Yes (1) | PowerAppointMajorityDirTrstInd |
| Operate Benefit Non Suprt Org | 0 | OperateBenefitNonSuprtOrgInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, SECTION A, LINE 3B | RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND WAS ABLE TO DETERMINE THAT THE SUPPORTED ORGANIZATION SATISFIED THE PUBLIC SUPPORT TEST UNDER 509(A)(2) BY OBTAINING A COPY OF THE COMPUTATION OF PUBLIC SUPPORT CALCULATION (SCHEDUE A) THAT INDICATED THAT THE TOTAL PUBLIC SUPPORT PERCENTAGE FOR 2023 WAS 39.15% AND INVESTMENT INCOME PERCENTAGE FOR 2023 WAS 13.16%. |
| PART IV, SECTION A, LINE 3C | STRATEGIC PLANNING IS REVIEWED BY THE RIDC EXECUTIVE COMMITTEE PRIOR TO SUBMITTING PROPOSED PROJECTS TO THE RIDC BOARD OF DIRECTORS TO ENSURE THAT ALL PROJECTS ARE WITHIN THE SCOPE OF THE ORGANIZATION'S MISSION AND FALL UNDER IRC SECTION 170(C)(2)(B). |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,357,435 | OtherCostOrOtherBasisAmt |
| Book Value | $1,357,435 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $20,149,265 | OtherCostOrOtherBasisAmt |
| Depreciation | $275,970 | DepreciationAmt |
| Book Value | $19,873,295 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,582,560 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,029,334 | DepreciationAmt |
| Book Value | $553,226 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $53,500 | OtherCostOrOtherBasisAmt |
| Depreciation | $53,500 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $21,783,956 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| RIDC LTC 48 LAND | $2,716,458 | C |
| RIDC MILL 19A LAND | $1,352,264 | C |
| RIDC MILL 19B LAND | $1,100,339 | C |
| NKAMP INVESTMENT | $3,060,000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $8,229,061 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| REAL ESTATE IN PROGRESS | $38,244,682 |
| CONSTRUCTION IN PROGRESS | $10,136,042 |
| INTEREST RATE SWAP | $518,472 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $48,899,196 | TotalBookValueOtherAssetsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | AS OF DECEMBER 31, 2023 AND 2022, THE CORPORATION IS UNAWARE OF ANY UNCERTAIN TAX POSITIONS. THE CORPORATION'S TAX RETURNS FOR YEARS 2020 AND BEYOND REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SMITH DONALD F JR | ||||||||||||||
| PRESIDENT | $0 | $496,827 | $0 | $126,500 | $0 | $1,455 | $0 | $23,100 | $0 | $20,765 | $0 | $668,647 | $0 | $0 |
| WHITE TIMOTHY F | ||||||||||||||
| SENIOR VP - DEVELOPMENT | $0 | $317,767 | $0 | $58,000 | $0 | $1,290 | $0 | $22,514 | $0 | $28,140 | $0 | $427,711 | $0 | $0 |
| GOLDSTROM MICHAEL | ||||||||||||||
| SENIOR VP - REAL ESTATE | $0 | $258,129 | $0 | $39,000 | $0 | $0 | $0 | $18,156 | $0 | $25,610 | $0 | $340,895 | $0 | $0 |
| HOBBES JASON W | ||||||||||||||
| CORPORATE SECRETARY | $0 | $201,600 | $0 | $16,500 | $0 | $0 | $0 | $14,181 | $0 | $25,422 | $0 | $257,703 | $0 | $0 |
| PINELLI CHRISTOPHER | ||||||||||||||
| DIRECTOR, PROPERTY MGMT | $0 | $173,321 | $0 | $5,500 | $0 | $744 | $0 | $12,164 | $0 | $9,485 | $0 | $201,214 | $0 | $0 |
| HEINRICHER MICHAEL | ||||||||||||||
| DIRECTOR, ASSET MANAGEMENT | $0 | $149,376 | $0 | $10,500 | $0 | $656 | $0 | $10,728 | $0 | $25,200 | $0 | $196,460 | $0 | $0 |
| MILLER KEITH | ||||||||||||||
| DIRECTOR OF SITE DEVELOPMENT | $0 | $145,868 | $0 | $3,500 | $0 | $0 | $0 | $10,454 | $0 | $25,182 | $0 | $185,004 | $0 | $0 |
| BUECHLI JOHN | ||||||||||||||
| SENIOR CONSTRUCTION MANAGER | $0 | $134,070 | $0 | $8,500 | $0 | $579 | $0 | $9,460 | $0 | $25,120 | $0 | $177,729 | $0 | $0 |
| KURTA MARIAN D | ||||||||||||||
| TREASURER | $0 | $115,224 | $0 | $6,500 | $0 | $511 | $0 | $8,352 | $0 | $25,047 | $0 | $155,634 | $0 | $0 |
| JOYCE DENNIS M RET 62022 | ||||||||||||||
| FORMER CHIEF OPERATING OFFICER | $0 | $150,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $150,000 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 8B | NO COMMITTEES ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE ANNUAL FORM 990 IS PREPARED BY ITS OUTSIDE INDEPENDENT ACCOUNTING FIRM. THE BOARD OF DIRECTORS REVIEWS THE 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST DISCLOSURE FORMS ARE DISTRIBUTED TO THE MEMBERS OF THE BOARD OF DIRECTORS AND ALL EMPLOYEES EACH YEAR. THE CONFLICT OF INTEREST FORMS ARE THEN RETURNED TO THE SECRETARY OF THE CORPORATION. ALL CONFLICT OF INTEREST FORMS ARE REVIEWED BY THE RIDC AUDIT COMMITTEE, AS WELL AS THE RIDC EXECUTIVE COMMITTEE OF THE RIDC BOARD. THE RIDC PRESIDENT AND RIDC BOARD CHAIR ARE INVOLVED IN THE PROCESS, INCLUDING REVIEW OF FORM CONTENTS AND IDENTIFYING ANY INDIVIDUAL AREAS OF CONCERN. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION HAS NO DIRECT EMPLOYEES AND THEREFORE NO COMPENSATION ANALYSIS IS APPLICABLE. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | OTHER FEES: PROGRAM SERVICE EXPENSES 170,339. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 170,339. |
| FORM 990, PART IX, LINE 24B | DURING 2016, LTC 48 LEVERAGED LENDER, A SINGLE MEMBER LLC OWNED BY THE ORGANIZATION, ENTERED INTO A FINANCIAL ARRANGEMENT TO OBTAIN ADDITIONAL FUNDING FOR THE CONSTRUCTION, OPERATION AND OFFSITE IMPROVEMENTS OF A 68,000 SQUARE-FOOT FLEX OFFICE BUILDING, TECH FORGE AT 47TH, LOCATED IN LAWRENCEVILLE, THROUGH THE USE OF THE NEW MARKETS TAX CREDIT ("NMTC") PROGRAM. IN CONNECTION WITH THE NMTC FINANCING, LTC 48 LEVERAGED LENDER EXECUTED A NOTE RECEIVABLE FROM TWAIN INVESTMENT FUND 175, LLC ("TWAIN"), AN UNRELATED THIRD PARTY, IN THE AMOUNT OF $8,664,800. THE NOTE PROVIDED FOR QUARTERLY INTEREST-ONLY PAYMENTS AT 3.52% THROUGH JULY 14, 2023. ON JULY 14, 2023, A PRINCIPAL PAYMENT ON THE NOTE RECEIVABLE OF $7,722,720 WAS MADE BY TWAIN TO LTC 48 LEVERAGED LENDER. SIMULTANEOUSLY WITH THE EXERCISE OF AN OPTION AGREEMENT BETWEEN REGIONAL INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTHWESTERN PENNSYLVANIA AND U.S. BANCORP COMMUNITY DEVELOPMENT CORPORATION, THE FEDERAL TAX CREDIT INVESTOR, THE REMAINING PRINCIPAL BALANCE OF $942,080 WAS TRANSFERRED TO LTC 48 LEVERAGED LENDER. SUBSEQUENTLY, THE BALANCE WAS DISCHARGED AND RECORDED AS A LOSS ON NEW MARKETS TAX CREDIT TRANSACTIONS ON THE 2023 STATEMENT OF FUNCTIONAL EXPENSES. |
| FORM 990, PART XI, LINE 9: | TRANSFER OF 2022 GRANT RECEIPT TO NKAMP LLC(92-3465668) -5,000,000. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| RIDC LTC 48 LEVERAGED LENDER LLC | |||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 812003435 | RE DEVELOPMENT | PA | -$1,104,973 | $16 | RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND |
| RIDC MILL 19A LEVERAGED LENDER LLC | |||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 320544577 | RE DEVELOPMENT | PA | -$1,259,640 | $25,029,614 | RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND |
| RIDC MILL 19B LEVERAGE LENDER LLC | |||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 364914529 | RE DEVELOPMENT | PA | -$58,372 | $6,250,324 | RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND |
| FILM FURNACE LLC | |||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 842113529 | ECONOMIC DEV OF SWPA | PA | $0 | $0 | RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND |
| 80-82 44TH ST LLC | |||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 843046991 | RE DEVELOPMENT | PA | -$35,173 | $408,287 | RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (8 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| REGIONAL INDUSTRIAL DEVELOPMENT CORP OF SOUTHWESTERN PA | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 251033264 | ECONOMIC DEVELOPMENT OF SW PA | PA | 501(C)(6) | N/A | N/A | 0 |
| THE RIDC REGIONAL GROWTH FUND | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 251495484 | ECONOMIC DEVELOPMENT OF SW PA | PA | 501(C)(3) | 12(A) | N/A | 0 |
| REGIONAL ECONOMIC DEVELOPMENT CORPORATION OF SW PA | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 251636676 | ECONOMIC DEVELOPMENT OF SW PA | PA | 501(C)(3) | 12(A) | N/A | 0 |
| RIDC LTC 48 | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 811907116 | ECONOMIC DEVELOPMENT OF SW PA | PA | 501(C)(3) | 12(A) | N/A | 0 |
| INDUSTRIAL CENTER OF MCKEESPORT ASSOCIATION | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 461685366 | PROPERTY MANAGEMENT | PA | 501(C)(4) | N/A | N/A | 0 |
| RIDC MILL 19A | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 822985893 | ECONOMIC DEVELOPMENT OF SW PA | PA | 501(C)(3) | 12(A) | N/A | 0 |
| RIDC MILL 19B | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 352617410 | ECONOMIC DEVELOPMENT OF SW PA | PA | 501(C)(3) | 12(A) | N/A | 0 |
| RIDC MILL 19C | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 871417180 | ECONOMIC DEVELOPMENT OF SW PA | PA | 501(C)(3) | 12(A) | N/A | 0 |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Predominant Income TypePredominantIncomeTypeTxt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd |
|---|---|---|---|---|---|---|---|---|---|---|
| INNOVATION RIDGE PARTNERS LP | ||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 251833057 | RE DEVELOPMENT | PA | RIDC OF SWPA | RELATED | 0 | 0 |
| CW DEVELOPMENT LP | ||||||||||
| ONE BIGELOW SQUARE SUITE 630 | PITTSBURGH | PA | 15219 | 364734310 | RE DEVELOPMENT | PA | COMMONS AT THORN HILL GP LLC | RELATED | 0 | 0 |
| THORNHILL PARTNERS LP | ||||||||||
| ONE BIGELOW SQUARE SUITE 630 | PITTSBURGH | PA | 15219 | 822955090 | RE DEVELOPMENT | PA | ELMHURST TH GP LLC | RELATED | 0 | 0 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Controlled OrganizationControlledOrganizationInd | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| INNOVATION RIDGE DEVELOPMENT CORPORATION | ||||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 273458190 | RE DEVELOPMENT | PA | RIDC OF SW PA | C | 0 | |||
| RIDC REAL ESTATE INVESTMENT COMPANY | ||||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 273652717 | RE DEVELOPMENT | PA | RIDC OF SW PA | C | 0 | |||
| INNOVATION RIDGE COMMERCIAL PROPERTY OWNERS ASSOCIATION | ||||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 203871581 | PROPERTY MANAGEMENT | PA | RIDC OF SW PA | C | 0 | |||
| RIDC MILL 19 CONDOMINIUM ASSOCIATION | ||||||||||||
| 267 KAPPA DRIVE | PITTSBURGH | PA | 15238 | 352610106 | PROPERTY MANAGEMENT | PA | RIDC OF SW PA GF | C | 0 | $100,457 | $83,758 | 0.35620 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | Yes (1) | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (16 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| RIDC MILL 19B 35-2617410 (LOAN BALANCES) | ||
| D | $438 | ACTUAL COST INCURRED |
| RIDC MILL 19B 35-2617410 (PRINCIPAL INCREASE) | ||
| D | $8,016 | ACTUAL COST INCURRED |
| RIDC MILL 19A 82-2985893 (RENT EXPENSE) | ||
| J | $2,145,597 | ACTUAL COST INCURRED |
| RIDC MILL 19A 82-2985893 (LOAN BALANCE) | ||
| E | $4,564,861 | ACTUAL COST INCURRED |
| RIDC MILL 19A 82-2985893 (PRINCIPAL INCREASE) | ||
| E | $147,289 | ACTUAL COST INCURRED |
| RIDC LTC 48 81-1907116 (LOAN BALANCE) | ||
| D | -$83,158 | ACTUAL COST INCURRED |
| RIDC LTC 48 81-1907116 (PRINCIPAL DECREASE) | ||
| D | -$89,633 | ACTUAL COST INCURRED |
| RIDC OF SW PA 25-1033264 (LOAN BALANCE) | ||
| E | $83,921,681 | ACTUAL COST INCURRED |
| RIDC OF SW PA 25-1033264 (PRINCIPAL INCREASE) | ||
| E | $14,864,929 | ACTUAL COST INCURRED |
| RIDC OF SW PA 25-1033264 (INTEREST) | ||
| E | $3,050,747 | ACTUAL COST INCURRED |
| RIDC OF SW PA 25-1033264 (SHARED PAYROLL) | ||
| O | $185,000 | ACTUAL COST INCURRED |
| RIDC LTC 48 81-1907116 (GRANT RECEIPT) | ||
| C | $150,000 | ACTUAL COST INCURRED |
| RIDC MILL 19B 35-2617410 (GRANT RECEIPT) | ||
| C | $1,285,000 | ACTUAL COST INCURRED |
| RIDC MILL 19 CONDOMINIUM ASSOCIATION 35-2610106 (REIMBURSEMENTS) | ||
| P | $90,153 | ACTUAL COST INCURRED |
| NKAMP LLC 92-3465668 (GRANT RECEIPT) | ||
| R | -$5,000,000 | ACTUAL COST INCURRED |
| NKAMP LLC 92-3465668 (CAPITAL CONTRIBUTION) | ||
| R | $3,060,000 | ACTUAL COST INCURRED |