PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP (EIN 23-6050858)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2014-04-24
- IRS object ID
- 201421149349300612
- Schema version
- 2012v2.3
- 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) |
|---|---|---|
| Timestamp | 2014-04-24T09:28:14-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 MARKET STREET SUITE 700 | AddressLine1 |
| City | PHILADELPHIA | City |
| State | PA | State |
| ZIP Code | 19103 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 236050858 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Philadelphia Industrial Development | BusinessNameLine1 |
| Business Name Line2 | Corporation | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % ANTHONY SIMONETTA | InCareOfName |
| Name Control | PHIL | NameControl |
| Phone | 2154968020 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 Market Street | AddressLine1 |
| Address Line2 | Suite 2600WEST | AddressLine2 |
| City | Philadelphia | City |
| State | PA | State |
| ZIP Code | 19102 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ANTHONY SIMONETTA | Name |
| Title | SENIOR VICE PRESIDENT | Title |
| Phone | 2154968020 | Phone |
| Date Signed | 2014-04-07 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Russlee Armstrong | Name |
| Phone | 2155614200 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | John Grady | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 Market Street | AddressLine1 |
| City | Philadelphia | City |
| State | PA | State |
| ZIP Code | 19102 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 14291635 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.pidc-pa.org | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1957 | YearFormation |
| State Legal Domicile | PA | StateLegalDomicile |
| Activity Or Mission Description | PIDC plans and implements economic development initiatives which enhance the competitive environment, generate jobs and produce higher tax ratables throughout the City of Philadelphia. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 28 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 28 | NbrIndependentVotingMembers |
| Total Nbr Employees | 132 | TotalNbrEmployees |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 18996749 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 14283216 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 31848 | InvestmentIncomePriorYear |
| Investment Income Current Year | 8419 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 19028597 | TotalRevenuePriorYear |
| Total Revenue Current Year | 14291635 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 55917 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 422336 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 6876291 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 7137549 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 11355449 | OtherExpensePriorYear |
| Other Expenses Current Year | 7183749 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 18287657 | TotalExpensesPriorYear |
| Total Expenses Current Year | 14743634 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 740940 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -451999 | RevenuesLessExpensesCY |
| Total Assets BOY | 52930342 | TotalAssetsBOY |
| Total Assets EOY | 63271029 | TotalAssetsEOY |
| Total Liabilities BOY | 46565060 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 59211149 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 6365282 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 4059880 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION (PIDC) HAS BEEN PHILADELPHIA'S ECONOMIC DEVELOPMENT CORPORATION SINCE 1957. AS A NON-PROFIT, PUBLIC-PRIVATE PARTNERSHIP FOUNDED BY THE CITY OF PHILADELPHIA (THE CITY) AND THE GREATER PHILADELPHIA CHAMBER OF COMMERCE, PIDC AND ITS COMBINED AFFILIATES (COLLECTIVELY, THE CORPORATION) PLANS AND IMPLEMENTS FINANCING AND REAL ESTATE TRANSACTIONS THROUGHOUT ALL NEIGHBORHOODS THAT ATTRACT INVESTMENT, JOBS AND TAX RATABLES TO THE CITY. THE CORPORATION'S INVESTMENTS SERVE TO DIVERSIFY THE CITY'S ECONOMIC BASE AND IMPROVE THE QUALITY OF LIFE FOR BUSINESS AND RESIDENTS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 6181786 | Expense |
| Grants | 0 | Grants |
| Revenue | 4812592 | Revenue |
| Description | BELOW MARKET RATE LENDING- PROVIDE SUPPORT TO RELATED/COMBINED ENTITIES THAT ISSUE SUBORDINATED DEBT FINANCING WITH BELOW MARKET INTEREST RATES FOR CAPITAL PROJECTS FOR THE PURPOSE OF RETENTION AND GROWTH OF EMPLOYMENT IN THE CITY OF PHILADELPHIA. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1570717 | Expense |
| Revenue | 2493501 | Revenue |
| Description | PROPERTY MANAGMENT- PROVIDE SERVICES TO THE CITY OF PHILADELPHIA, WHICH INCLUDE, THE SALE OR LEASE OF CONVEYED PROPERTY. PIDC HAS EXPERTISE IN REAL ESTATE USAGE AND NEGOTIATIONS INVOLVING COMMERCIAL AND INDUSTRIAL DEVELOPMENT WHICH BENEFITS THE CITY OF PHILADELPHIA AND GREATER METROPOLITAN AREA. THE SERVICES PROVIDED INCLUDE MAINTENANCE OF GROUNDS, OBTAINING INSURANCE ON PROPERTIES, DEFENDING AGAINST LAW SUITS INVOLVING PROPERTY, ETC. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 2358664 | Expense |
| Grants | 422336 | Grants |
| Revenue | 6474622 | Revenue |
| Description | GRANT/ CONTRACT MANAGEMENT- MANAGE FUNDING AND DISTRIBUTION OF GRANTS AND CONTRACTS TO BE USED FOR CAPITAL/COMMERCIAL PROJECTS THAT FACILITATE JOB CREATION AND ECONOMIC DEVELOPMENT WITHIN THE CITY OF PHILADELPHIA. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 191510 | Expense |
| Revenue | 502501 | Revenue |
| Description | Software Development and Maintenance | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Exp | 191510 | TotalOfOtherProgramServiceExp |
| Total Of Other Program Service Rev | 502501 | TotalOfOtherProgramServiceRev |
| Total Program Service Expense | 10302677 | TotalProgramServiceExpense |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | true | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | true | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | true | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | true | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | true | RelatedOrgControlledEntity |
| Transaction Related Entity | true | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 127 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 132 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 28 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 28 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | false | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | false | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | PA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | ANTHONY SIMONETTA | NamePerson |
| Telephone Number | 2154968122 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 MARKET ST SUITE 2600 WEST | AddressLine1 |
| City | Philadelphia | City |
| State | PA | State |
| ZIP Code | 19102 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (45 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Average Hours Per Week RelatedAverageHoursPerWeekRelated | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| M Walter D'Alessio | ||||||||
| Chairman | 1.5 | 6.0 | X | X | 0 | 0 | ||
| Robert C Wonderling | ||||||||
| Vice Chairman | 1.5 | 6.0 | X | X | 0 | 0 | ||
| Edward H Morris | ||||||||
| Treasurer | 1.5 | 6.0 | X | X | 0 | 0 | ||
| David E Beavers | ||||||||
| Secretary | 1.5 | 6.0 | X | X | 0 | 0 | ||
| Andrea Allon | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Helen Baik | ||||||||
| Director (term ended Feb 2012) | 1.0 | 1.0 | X | 0 | 0 | |||
| Jeannie L Blackwell | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Audrey Bronson | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Craig Carnaroli | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Fred Cosenza | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Rob Dubow | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Alan Greenberger | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Frank Jiruska Jr | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Alan C Kessler | ||||||||
| Director (Term ended Feb 2012) | 1.0 | 1.0 | X | 0 | 0 | |||
| William Marrazzo | ||||||||
| Director (term ended Feb 2012) | 1.0 | 1.0 | X | 0 | 0 | |||
| James McManus | ||||||||
| Director (term ended Feb 2012) | 1.0 | 1.0 | X | 0 | 0 | |||
| Richard Negrin | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Michael A Nutter | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Salvatore J Patti | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Angelo R Perryman | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Michael Rashid | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Guillermos Salas Jr | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| William R Sautter | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Shelley R Smith | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Joseph H Weiss | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Barbara Wilson | ||||||||
| Director (term ended Feb 2012) | 1.0 | 1.0 | X | 0 | 0 | |||
| Amheenah Young | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Christina Cavalieri | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Tina Malek | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Leslie Ann Miller | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Bob Moul | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| Thomas Queenan | ||||||||
| Director | 1.5 | 6.0 | X | 0 | 0 | |||
| John Grady | ||||||||
| President | 33.5 | 4.0 | X | 260154 | 0 | 79266 | ||
| Sam Rhoads | ||||||||
| Senior Vice President | 33.5 | 4.0 | X | 203404 | 0 | 46017 | ||
| Anthony Simonetta | ||||||||
| Senior Vice President | 33.5 | 4.0 | X | 201921 | 0 | 51109 | ||
| Anne Nevins | ||||||||
| Senior Vice President | 33.5 | 4.0 | X | 140393 | 0 | 36662 | ||
| Paul Deegan | ||||||||
| Senior Vice President | 33.5 | 4.0 | X | 152703 | 0 | 24672 | ||
| Terry Demusis | ||||||||
| Snr Vice Pres & Asst Secretary | 33.5 | 4.0 | X | 155694 | 0 | 288 | ||
| Joseph Mee | ||||||||
| Assistant Secretary | 33.5 | 4.0 | X | 135332 | 0 | 34921 | ||
| Mary Corcoran | ||||||||
| Assistant Secretary | 33.5 | 4.0 | X | 86742 | 0 | 56120 | ||
| Williams J Agate Jr | ||||||||
| Vice President | 33.5 | 4.0 | 151663 | 0 | 50709 | X | ||
| Carole Bennis | ||||||||
| Vice President | 33.5 | 4.0 | 128995 | 0 | 27619 | X | ||
| Marla Hamilton | ||||||||
| Vice President | 33.5 | 4.0 | 121954 | 0 | 21873 | X | ||
| Thomas Dalfo | ||||||||
| Vice President | 33.5 | 4.0 | 134941 | 0 | 55413 | X | ||
| Carol deFries | ||||||||
| Vice President | 33.5 | 4.0 | 115266 | 0 | 39453 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1989162 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 524122 | TotalOtherCompensation |
| Number Individuals GT100 K | 13 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (4 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| Grant Thornton LLP | |||||
| 2001 Market Street | PHILADELPHIA | PA | 19103 | Audit & Tax | 402511 |
| Geographix Inc | |||||
| 201 Fulton Street | RIVERTON | NJ | 08077 | IT | 277532 |
| Mango Gold Katcher Fox LLP | |||||
| 401 City Avenue | BALA CYNWYD | PA | 19004 | Legal Services | 121428 |
| Lipsky Brandt | |||||
| 1101 Market Street | PHILADELPHIA | PA | 19107 | legal services | 114479 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| BELOW MARKET RATE LENDING | 900099 | 3052631 | 3052631 |
| CONTRACT/GRANT MANAGEMENT | 900099 | 6474622 | 6474622 |
| PROPERTY MANAGEMENT | 900099 | 2493501 | 2493501 |
| LOAN FEES | 900099 | 1759961 | 1759961 |
| SOFTWARE DEVELOPMENT | 900099 | 502501 | 502501 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 14283216 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 8419 | TotalRevenueColumn |
| Exclusion | $8,419 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 14291635 | TotalRevenueColumn |
| Related Or Exempt Function Income | 14283216 | RelatedOrExemptFunctionIncome |
| Exclusion | $8,419 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 422336 | Total |
| Program Services | 422336 | ProgramServices |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1540907 | Total |
| Program Services | 372533 | ProgramServices |
| Management And General | 1168374 | ManagementAndGeneral |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3581305 | Total |
| Program Services | 2315733 | ProgramServices |
| Management And General | 1265572 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1624435 | Total |
| Program Services | 948718 | ProgramServices |
| Management And General | 675717 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 390902 | Total |
| Program Services | 213656 | ProgramServices |
| Management And General | 177246 | ManagementAndGeneral |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 333273 | Total |
| Program Services | 308456 | ProgramServices |
| Management And General | 24817 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 122611 | Total |
| Management And General | 122611 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 153000 | Total |
| Program Services | 71018 | ProgramServices |
| Management And General | 81982 | ManagementAndGeneral |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 178067 | Total |
| Program Services | 75550 | ProgramServices |
| Management And General | 102517 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 18581 | Total |
| Program Services | 16508 | ProgramServices |
| Management And General | 2073 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 475849 | Total |
| Program Services | 209018 | ProgramServices |
| Management And General | 266831 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3178 | Total |
| Program Services | 3178 | ProgramServices |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 81364 | Total |
| Management And General | 81364 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 810108 | Total |
| Program Services | 726113 | ProgramServices |
| Management And General | 83995 | ManagementAndGeneral |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| OTHER EXPENSES | 858349 | 470491 | 387858 |
| DIRECT CONTRACT EXPENSES | 4149369 | 4149369 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14743634 | Total |
| Program Services | 10302677 | ProgramServices |
| Management And General | 4440957 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28621737 | BOY |
| EOY | 21660064 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11857580 | BOY |
| EOY | 22372872 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 105616 | BOY |
| EOY | 34990 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 1741321 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 1581739 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 150799 | BOY |
| EOY | 159582 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12194610 | BOY |
| EOY | 19043521 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 52930342 | BOY |
| EOY | 63271029 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1330591 | BOY |
| EOY | 9520971 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7260404 | BOY |
| EOY | 6593060 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 253622 | BOY |
| EOY | 253622 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 37720443 | BOY |
| EOY | 42843496 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 46565060 | BOY |
| EOY | 59211149 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6365282 | BOY |
| EOY | 4059880 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6365282 | BOY |
| EOY | 4059880 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 52930342 | BOY |
| EOY | 63271029 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -451999 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -1853403 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Agent Trustee Etc | false | AgentTrusteeEtc |
| Included On FS | true | IncludedOnFS |
| Explanation In Part XIII | X | ExplanationInPartXIII |
| Current Year Minus3 Years | CurrentYearMinus3Years | |
| Current Year Minus4 Years | CurrentYearMinus4Years | |
| Land | Land | |
| Buildings | Buildings |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 621387 | OtherCostOrOtherBasis |
| Depreciation | 621387 | Depreciation |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 590915 | OtherCostOrOtherBasis |
| Depreciation | 441585 | Depreciation |
| Book Value | 149330 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 529019 | OtherCostOrOtherBasis |
| Depreciation | 518767 | Depreciation |
| Book Value | 10252 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 159582 | TotalOfBookValueLandBuildings |
Other Assets OtherAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | DUE FROM RELATED PARTIES | Description |
| Book Value | 19043521 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 19043521 | TotalBookValueOtherAssets |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (5 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DUE TO RELATED PARTIES | $31,332,032 |
| ACCRUED POST RETIREMNTS BENEFIT | $8,980,653 |
| DUE TO OTHER AGENCIES | $1,519,602 |
| DUE TO AFFILIATE ENTITIES | $954,395 |
| LOAN PAYABLE TO RELATED PARTIES | $56,814 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 42843496 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 14291635 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 14291635 | RevenueSubtotal |
| Total Revenue Per Form990 | 14291635 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 16597037 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 1853403 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 1853403 | ExpensesNotRptdF990 |
| Expenses Subtotal | 14743634 | ExpensesSubtotal |
| Total Expenses Per Form990 | 14743634 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Escrow and Custodial Arrangements | Part IV, Line 2b | The Escrow account represents interest earned that is payable to the Delaware River Port Authority on loans managed by PIDC. |
| FIN 48 (ASC 740) FOOTNOTE | PART X, LINE 2 | PIDC and its combined affiliates (the Corporation) follows the guidance for Accounting for Uncertainty in Income Taxes, which requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. For tax positions meeting the more likely than not threshold, the amount recognized in the combined financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Corporation does not believe its combined financial statements include any material uncertain tax positions; as such, no provision is recorded in the combined statements of activities. PIDC and its combined entities are required to file tax returns with the Internal Revenue Service (IRS). Income tax returns are subject to examination by the IRS for a period of three years. While no income tax tax returns are currently being examined by the IRS, tax years since 2010 remian open. |
| Reconciliation of Expenses | Part XII, Line 2d | The change in pension and postretirement benefit other than net periodic benefit was $1,853,403 at December 31, 2012. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Recipient Table RecipientTable (6 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant |
|---|---|---|---|---|---|---|
| Octo Enterprises INC | ||||||
| 2202 Alter Street | Philadephia | PA | 19416 | 233051523 | 75268 | Econ Development |
| Vox Populi INC | ||||||
| 319 N 11th Street | Philadephia | PA | 19107 | 232912413 | 16365 | Econ Development |
| 2215 E Tioga St | ||||||
| 2215 E Tioga St | Philadelphia | PA | 19134 | 270450064 | 100000 | Econ Development |
| Crane Old School | ||||||
| 1400 N American St | Philadelphia | PA | 19122 | 262877217 | 100000 | Econ Development |
| N 12 Associates | ||||||
| 340 N 12th St 100 | Philadelphia | PA | 19107 | 232896160 | 95600 | Econ Development |
| Revolutionary Recovery LLC | ||||||
| 7333 Milnor Street | Philadelphia | PA | 19136 | 262015176 | 35103 | Econ Development |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of Other Organizations | 6 | TotalNbrOfOtherOrganizations |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedure for Monitoring Use of Grant Funds Inside U.S. | Identifier |
| Return Reference | Part I, Line 2 | ReturnReference |
| Explanation | PIDC has controls in place to ensure grant proceeds will be used and distributed in accordance with the terms of the grant agreement. A review of grant proceeds is done during the application process through which grantees request funds. Management reviews the documentation provided by grantees to ensure the request meets the criteria of the grant agreement. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | true | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (11 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Other Compensation Filing OrgOtherCompensationFilingOrg | Deferred Comp Filing OrgDeferredCompFilingOrg | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs |
|---|---|---|---|---|---|---|---|---|
| John Grady | ||||||||
| President | 230000 | 0 | 25000 | 5154 | 51730 | 27536 | 339420 | 0 |
| Sam Rhoads | ||||||||
| Senior Vice President | 188404 | 0 | 15000 | 0 | 31604 | 14413 | 249421 | 0 |
| Anthony Simonetta | ||||||||
| Senior Vice President | 185168 | 0 | 15000 | 1753 | 50671 | 438 | 253030 | 0 |
| Anne Nevins | ||||||||
| Senior Vice President | 130260 | 0 | 10000 | 133 | 22339 | 14323 | 177055 | 0 |
| Paul Deegan | ||||||||
| Senior Vice President | 135000 | 0 | 12000 | 5703 | 5088 | 19584 | 177375 | 0 |
| Terry Demusis | ||||||||
| Snr Vice Pres & Asst Secretary | 147674 | 0 | 7500 | 520 | -9319 | 9607 | 155982 | 0 |
| Joseph Mee | ||||||||
| Assistant Secretary | 128945 | 0 | 6000 | 387 | 10082 | 24839 | 170253 | 0 |
| Williams J Agate Jr | ||||||||
| Vice President | 141428 | 0 | 10000 | 235 | 25842 | 24867 | 202372 | 0 |
| Carole Bennis | ||||||||
| Vice President | 122764 | 0 | 6000 | 231 | 27290 | 329 | 156614 | 0 |
| Thomas Dalfo | ||||||||
| Vice President | 124914 | 0 | 10000 | 27 | 28016 | 27937 | 190894 | 0 |
| Carol deFries | ||||||||
| Vice President | 109904 | 0 | 5250 | 112 | 17935 | 21518 | 154719 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Supplemental nonqualified retirement plan | Part I, Line 4b | Thomas Dalfo participated in a self funded deferred compensation retirement plan, also referred to as a 457(B) non-qualified retirement plan. He contributed $260. |
| Non-Fixed Payments | Part I, Line 7 | The Corporation has established a Compensation Program to ensure the salaries and benefits paid to officers and employees is fair, competitive, and reflective of an employee's actual performance. The compensation structure embeds a risk based component that considers achievement of performance goals. |
| Defined Benefit Plan | Part II, Column (C) | 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 services from the date they become eligible participants of the Plan. The participant's benefit is equal to 2.0% of final average compensation multiplied by years of service (not in excess of 35 years), less 1.0% of the Social Security benefit multiplied by years of service (not in excess of 35 years). Pursuant to generally accepted accounting principles, management is required to determine the present value of the defined benefit plan liability, which considers various factors, including number of years until the participant's eligible retirement age, a discounted interest rate, and the expected return on plan assets. During 2012, because of current market conditions, the discounted interest rate decreased by 57 basis points, which caused the present value of the defined benefit plan's liability to increase. The impact of the increase in the present value of the defined benefit liability to an individual's deferred compensation is reflected in "retirement and other deferred compensation" in Schedule J, Part II, Column (c). The increase in the present value of the defined benefit plan's liability does not correspond to the actual benefit due to the Plan participants which is based on the compensation structure and years of experience, for which there was no significant changes during 2012. |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | E MorrisM D'AlessioW Sautters | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | Directors | Relationship |
| Amount Of Transaction | 927413 | AmountOfTransaction |
| Description Of Transaction | Health Insurance | DescriptionOfTransaction |
| Sharing Of Revenues | false | SharingOfRevenues |
Form990 Schedule L Part V Form990ScheduleLPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Part IV | Identifier |
| Explanation | Philadelphia Industrial Development Corporation (PIDC) Chairman M. Walter D'Alessio and PIDC Director William Sautters serve as the Chairman of the Board of Directors, and a board member, respectively, at Independence Blue Cross (IBC). In addition, PIDC Treasurer Edward Morris is a Vice President at IBC. IBC is the primary health care benefit provider in the Delaware Valley, and, through a contract with PIDC, provides health insurance coverage to the employees of PIDC. PIDC's employee benefit broker is responsibe for reviewing coverage, rates and competitive alternatives. The amount of revenue related to this relationship is negligible to IBC. The nature of these individuals' positions at IBC are such that they are removed from direct business contact with PIDC. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Other Program Services | Form 990, Part III, Line 4d | Program Service Expenses: $191,510; Grants and allocations: $0; Revenue $502,501. Software Development and Maintenance: PIDC created a software program for its use that is specifically designed to assimilate, track, and report the information required by local, state, and federal regulators/authorities. PIDC licenses the software to similarly situated tax exempt organizations for the management of their portfolios and reporting requirements. |
| Members or Stockholders | Form 990, Part VI, Line 6 | The members of Philadelphia Industrial Development Corporation and its combined affiliates (collectively, the Corporation) are the persons who are the directors of the Corporation. The business and affairs of the Corporation are managed by the directors. The organization has three classes of directors: 1) 7 City Directors consisting of the seven officers of the City of Philadelphia (the City); the Mayor of the City of Philadelphia, the Director of Commerce, the President of the Council, the Chairman of the Planning Commission, the City Solicitor, the Managing Director, and the Director of Finance. 2) 8 Chamber of Commerce Directors nominated by the President of the Greater Philadelphia Chamber of Commerce. 3) 15 Public Directors as nominated jointly by the President of the Greater Philadelphia Chamber of Commerce and the Director of Commerce of the City of Philadelphia. The seat of Director of Commerce and the planning commissioner is held by one person. |
| Decisions Subject to Approval | Form 990, Part VI, Line 7b | The Board of Directors (comprised of the 30 members as defined above) is authorized to approve by appropriate resolution the purchase, sale, lease, mortgage pledge, or other disposal of real estate and the borrowing of money for that purpose. The decisions of the Board regarding certain loan programs are subject to approval by external parties. In addition, between the times of the Board of Directors meeting, the Executive Committee has the right to exercise the authority of the Board of Directors. The Executive committee consists of 15 directors including the seven (7) City Directors and eight (8) Chamber Directors who are named to the Board of Directors. The Chairman of the Board of Directors is also the Chairman of the Executive Committee. |
| Form 990 Review Process | Form 990, Part VI, Line 11b | The Vice President of Financial Reporting assembles the Form 990, which is subsequently reviewed by the Senior Vice President of Operations, and also subject to review by PIDC's outside tax advisors. The Form 990 is required to be reviewed by the Audit Committee of the Board prior to filing with the Internal Revenue Service. The Form 990 is made available to all Board members upon request. |
| Conflict of Interest Policy Monitoring & Enforcement | Form 990, Part VI, Line 12c | All Directors of the Corporation must disclose the nature and extent of any interests, direct or indirect, contact, and/or activity related to such projects promoted by the Corporation. No director who has such an interest can vote on any matter relating to it. The disclosure is retained in the minute book of the organization. The Corporation has included a conflict of interest policy within the Personnel Policy Manual (updated during 2012), that is applicable to all employees of the Corporation. Further, on a periodic basis, the Corporation may require the officers of the Corporation to disclose any conflicted interests. |
| Process for Determining Compensation | Form 990, Part VI, Line 15a: | The compensation for the CEO is approved by the compensation committee which includes the Chairman of the Board of Directors and designated Board members appointed by the Chairman of the Board of Directors. FORM 990, PART VI, LINE 15B: The Corporation has established a Compensation Program to ensure the salaries and benefits paid to officers and employees is fair, competitive, and reflective of employee's actual performance. For the Corporation's senior executive, this includes establishing performance standards at the beginning of the year, which are used by the CEO to measure each executive's performance at year end. The Corporation periodically performs pay-range surveys of other comparable employers and monitors current trends in compensation. In addition, the compensation structure embeds a risk based component that considers achievement of performance goals. |
| How Documents are Made Available to the Public | Form 990, Part VI, Line 19 | The Corporation makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.com. The Corporation's financial statements and governing documents (including conflict of interest policy) are not ordinarily made available to the public. |
| Reconciliation of Net Assets | Form 990, Part XI, Line 5 | The change in pension and postretirement benefit other than net periodic benefit ($1,853,403) at December 31, 2012. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (6 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Direct Controlling Entity NADirectControllingEntityNA | Controlled OrgControlledOrg | Public Charity StatusPublicCharityStatus | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PIDC- Development Management Corporation | |||||||||||
| 1500 Market Street | Philadelphia | PA | 19102 | 232176818 | Econ Develop. | PA | 501(c)(4) | N/A | false | ||
| PIDC- Financing Corporation | |||||||||||
| 1500 Market Street | Philadelphia | PA | 19102 | 364665239 | Econ Develop. | PA | 501(c)(4) | N/A | false | ||
| PIDC- Local Development Corporation | |||||||||||
| 1500 Market Street | Philadelphia | PA | 19102 | 300598934 | Econ Develop. | PA | 501(c)(4) | N/A | false | ||
| PIDC- Regional Development Corporation | |||||||||||
| 1500 Market Street | Philadelphia | PA | 19102 | 232889102 | Econ Develop. | PA | 501(c)(3) | true | 11 | PIDC | |
| PIDC- Penn Venture Fund | |||||||||||
| 1500 Market Street | Philadelphia | PA | 19102 | 211585341 | Econ Develop. | PA | 501(c)(4) | N/A | false | ||
| Food Distribution Center | |||||||||||
| 1500 Market Street | Philadelphia | PA | 19102 | 231475639 | Econ Develop. | PA | 115 | N/A | false | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | true | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | true | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | true | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | true | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | true | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable
Name Of Other Organization NameOfOtherOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PIDC- Regional Development Corporation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | p | TransactionType |
| Amount Involved | 1054113 | AmountInvolved |
| Method Of Amt Determination | Contractual Fee | MethodOfAmtDetermination |