PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP: Form 990, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP (EIN 23-6050858)
- Tax period
- 2013-01-01 to 2013-12-31
- Filed
- 2014-11-14
- IRS object ID
- 201423189349303777
- Schema version
- 2013v3.1
- 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 | 2014-11-14T11:15:09-06:00 | ReturnTs |
| Tax Period End | 2013-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1 |
Preparer US Address PreparerUSAddress
| 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 | ReturnTypeCd |
| Tax Period Begin | 2013-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 236050858 | EIN |
Business Name BusinessName
| 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 | % ANTHONY SIMONETTA | InCareOfNm |
| Business Name Control | PHIL | BusinessNameControlTxt |
| Phone | 2154968020 | PhoneNum |
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 |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Anthony Simonetta | PersonNm |
| Person Title | Senior Vice President | PersonTitleTxt |
| Phone | 2154968020 | PhoneNum |
| Signature | 2014-11-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Russlee Armstrong | PreparerPersonNm |
| PTIN | P00288383 | PTIN |
| Phone | 2154968020 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2013 | TaxYr |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | John Grady | PrincipalOfficerNm |
US Address USAddress
| 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 | $15,285,439 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.pidc-pa.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1957 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | PIDC plans and implements economic development initiatives which -ment initiatives which enhance the competitive environment, generate jobs and produce higher tax ratables throughout Philadelphia. | ActivityOrMissionDesc |
| Voting Members Governing Body | 28 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 28 | VotingMembersIndependentCnt |
| Total Employee | 120 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $887,371 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $14,283,216 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $14,396,404 | CYProgramServiceRevenueAmt |
| PY Investment Income | $8,419 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,664 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $14,291,635 | PYTotalRevenueAmt |
| CY Total Revenue | $15,285,439 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $422,336 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $193,528 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,137,549 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,940,763 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $7,183,749 | PYOtherExpensesAmt |
| CY Other Expenses | $7,704,713 | CYOtherExpensesAmt |
| PY Total Expenses | $14,743,634 | PYTotalExpensesAmt |
| CY Total Expenses | $15,839,004 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$451,999 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$553,565 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $63,271,029 | TotalAssetsBOYAmt |
| Total Assets EOY | $83,678,914 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $59,211,149 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $74,884,632 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $4,059,880 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $8,794,282 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | PIDC plans and implements economic development initiatives which enhance the competitive environment, generate jobs and produce higher tax ratables throughout the City of Philadelphia (Refer to Schedule O for detailed mission statement). | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $3,566,032 | ExpenseAmt |
| Revenue | $5,001,714 | RevenueAmt |
| Desc | 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. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $4,153,746 | ExpenseAmt |
| Revenue | $6,238,693 | RevenueAmt |
| Desc | PROPERTY MANAGEMENT - 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. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $3,047,662 | ExpenseAmt |
| Grant | $193,528 | GrantAmt |
| Revenue | $3,499,112 | RevenueAmt |
| Desc | 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. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $208,630 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $544,256 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $10,976,070 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (true) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 75 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 120 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 28 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 28 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | false | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | PA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANTHONY SIMONETTA | PersonNm |
| Phone | 2154968122 | PhoneNum |
US Address USAddress
| 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 Form990PartVIISectionAGrp (44 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 |
|---|---|---|---|---|---|---|---|---|
| M Walter D'Alessio | ||||||||
| Chairman | 1.5 | 6.0 | Yes (X) | Yes (X) | $0 | $0 | ||
| Robert C Wonderling | ||||||||
| Vice Chairman | 1.5 | 6.0 | Yes (X) | Yes (X) | $0 | $0 | ||
| Edward H Morris | ||||||||
| Treasurer | 1.5 | 6.0 | Yes (X) | Yes (X) | $0 | $0 | ||
| David E Beavers | ||||||||
| Secretary | 1.5 | 6.0 | Yes (X) | Yes (X) | $0 | $0 | ||
| Andrea Allon | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Jeannie L Blackwell | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Audrey Bronson | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Craig Carnaroli | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Fred Cosenza | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Rob Dubow | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Alan Greenberger | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Frank Jiruska Jr | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Richard Negrin | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Michael A Nutter | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Salvatore J Patti | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Angelo R Perryman | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Michael Rashid | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| William R Sautter | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Shelley R Smith | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Joseph H Weiss | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Amheenah Young | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Christina Cavalieri | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Tina Malek | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Leslie Anne Miller | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Bob Moul | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| Thomas Queenan | ||||||||
| Director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| guillermos salas jr | ||||||||
| director(term end aug 2013) | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| kenneth lawrence | ||||||||
| director | 1.5 | 6.0 | Yes (X) | $0 | $0 | |||
| John Grady | ||||||||
| President | 33.5 | 4.0 | Yes (X) | $265,740 | $0 | $28,071 | ||
| anthony simonetta | ||||||||
| Senior Vice President | 33.5 | 4.0 | Yes (X) | $201,052 | $0 | $41,677 | ||
| sam rhoads | ||||||||
| Senior Vice President | 33.5 | 4.0 | Yes (X) | $205,000 | $0 | $14,696 | ||
| Anne Nevins | ||||||||
| Senior Vice President | 33.5 | 4.0 | Yes (X) | $157,559 | $0 | $20,929 | ||
| Paul Deegan | ||||||||
| Senior Vice President | 33.5 | 4.0 | Yes (X) | $154,466 | $0 | $19,794 | ||
| Terry Demusis | ||||||||
| Snr Vice Pres & Asst Secretary | 33.5 | 4.0 | Yes (X) | $156,186 | $0 | $9,820 | ||
| Joseph Mee | ||||||||
| Assistant Secretary | 33.5 | 4.0 | Yes (X) | $136,908 | $0 | $27,485 | ||
| Williams J Agate Jr | ||||||||
| Senior Vice President | 33.5 | 4.0 | Yes (X) | $165,464 | $0 | $49,275 | ||
| Thomas Dalfo | ||||||||
| senior Vice President | 33.5 | 4.0 | Yes (X) | $150,150 | $0 | $32,935 | ||
| Mary Corcoran | ||||||||
| Assistant Secretary | 33.5 | 4.0 | Yes (X) | $81,835 | $9,606 | |||
| ilene burak | ||||||||
| senior vice president | 33.5 | 4.0 | Yes (X) | $130,917 | $0 | $27,918 | ||
| Carole Bennis | ||||||||
| Vice President | 33.5 | 4.0 | $130,000 | $0 | $23,369 | Yes (X) | ||
| Marla Hamilton | ||||||||
| Vice President | 33.5 | 4.0 | $119,000 | $18,022 | Yes (X) | |||
| Carol deFries | ||||||||
| Vice President | 33.5 | 4.0 | $117,000 | $25,426 | Yes (X) | |||
| AVRUM KANTOR | ||||||||
| VICE PRESIDENT | 33.5 | 4.0 | $117,037 | $21,947 | Yes (X) | |||
| MARK SELTZER | ||||||||
| VICE PRESIDENT | 33.5 | 4.0 | $104,774 | $271 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,393,088 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $371,241 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 20 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1 | CityContractorAddress/USAddress/City | StateContractorAddress/USAddress/State | ZIP CodeContractorAddress/USAddress/ZIPCode | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Grant Thornton LLP | |||||
| 2001 Market Street | PHILADELPHIA | PA | 19103 | Audit & Tax | $394,963 |
| Geographix Inc | |||||
| 201 Fulton Street | RIVERTON | NJ | 08077 | IT | $236,008 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $887,371 | GovernmentGrantsAmt |
| Total Contributions | $887,371 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| BELOW MARKET RATE | 900099 | $4,466,747 | $4,466,747 |
| CONTRACT & GRANT | 900099 | $3,007,611 | $3,007,611 |
| LOAN FEES | 900099 | $410,147 | $410,147 |
| SOFTWARE DEVELOPMENT | 900099 | $544,256 | $544,256 |
| PROPERTY MANAGEMENT | 900099 | $5,967,643 | $5,967,643 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $14,396,404 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,664 | TotalRevenueColumnAmt |
| Exclusion | $1,664 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,285,439 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,396,404 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $1,664 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $193,528 | TotalAmt |
| Program Services | $193,528 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,008,524 | TotalAmt |
| Program Services | $760,639 | ProgramServicesAmt |
| Management And General | $1,247,885 | ManagementAndGeneralAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,784,255 | TotalAmt |
| Program Services | $2,283,635 | ProgramServicesAmt |
| Management And General | $1,500,620 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,758,616 | TotalAmt |
| Program Services | $985,423 | ProgramServicesAmt |
| Management And General | $773,193 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $389,368 | TotalAmt |
| Program Services | $213,081 | ProgramServicesAmt |
| Management And General | $176,287 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $526,443 | TotalAmt |
| Program Services | $498,658 | ProgramServicesAmt |
| Management And General | $27,785 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $278,108 | TotalAmt |
| Program Services | $93,247 | ProgramServicesAmt |
| Management And General | $184,861 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,000 | TotalAmt |
| Program Services | $48,375 | ProgramServicesAmt |
| Management And General | $47,625 | ManagementAndGeneralAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $98,429 | TotalAmt |
| Management And General | $98,429 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $489,556 | TotalAmt |
| Program Services | $244,778 | ProgramServicesAmt |
| Management And General | $244,778 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,420 | TotalAmt |
| Program Services | $1,420 | ProgramServicesAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $79,323 | TotalAmt |
| Management And General | $79,323 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $719,923 | TotalAmt |
| Program Services | $643,048 | ProgramServicesAmt |
| Management And General | $76,875 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| OTHER EXPENSES | $1,067,867 | $662,594 | $405,273 |
| DIRECT CONTRACT EXPENSES | $4,347,644 | $4,347,644 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,839,004 | TotalAmt |
| Program Services | $10,976,070 | ProgramServicesAmt |
| Management And General | $4,862,934 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,660,064 | BOYAmt |
| EOY | $13,092,889 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,372,872 | BOYAmt |
| EOY | $1,568,137 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $909,000 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,990 | BOYAmt |
| EOY | $166,851 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,771,242 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,654,583 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $159,582 | BOYAmt |
| EOY | $116,659 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,043,521 | BOYAmt |
| EOY | $67,825,378 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,271,029 | BOYAmt |
| EOY | $83,678,914 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,520,971 | BOYAmt |
| EOY | $1,266,255 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,593,060 | BOYAmt |
| EOY | $6,895,729 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $253,622 | BOYAmt |
| EOY | $258,622 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $909,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,843,496 | BOYAmt |
| EOY | $65,555,026 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,211,149 | BOYAmt |
| EOY | $74,884,632 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,059,880 | BOYAmt |
| EOY | $8,794,282 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,059,880 | BOYAmt |
| EOY | $8,794,282 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,271,029 | BOYAmt |
| EOY | $83,678,914 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$553,565 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $5,287,967 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $621,387 | OtherCostOrOtherBasisAmt |
| Depreciation | $621,387 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $572,445 | OtherCostOrOtherBasisAmt |
| Depreciation | $485,707 | DepreciationAmt |
| Book Value | $116,659 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $577,410 | OtherCostOrOtherBasisAmt |
| Depreciation | $577,410 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $116,659 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DUE FROM RELATED PARTIES | $64,001,301 |
| DUE FROM AFFILIATED PARTIES | $3,824,077 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $67,825,378 | TotalBookValueOtherAssetsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| DUE TO RELATED PARTIES | $60,214,495 |
| ACCRUED POST RETIREMNT BENEFITS | $3,401,319 |
| DUE TO OTHER AGENCIES | $1,340,744 |
| DUE TO AFFILIATE ENTITIES | $598,468 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $65,555,026 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $15,285,439 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $15,285,439 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $15,285,439 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $10,551,037 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$5,287,967 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$5,287,967 | ExpensesNotReportedAmt |
| Expenses Subtotal | $15,839,004 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $15,839,004 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part IV, Line 2a | The Escrow account represents interest earned that is payable to the Delaware River Port Authority on loans managed by PIDC. |
| PART X, LINE 2 | Philadelphia Industrial Development Corporation (PIDC) and its affiliates, which include PIDC, present combined financial statements. The combined financial statements includes the assessment 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 postitons 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 percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. Management believes there are no uncertain tax positions for PIDC; as such, no provision is recorded in the combined statements of activities. PIDC is 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 returns are currently being examined by the IRS, tax years since 2011 remain open. |
| Part XII, Line 2d | The change in pension and postretirement benefit other than net periodic benefit cost was ($5,287,967) at December 31, 2013. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (4 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | Recipient EINRecipientEIN | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | IRC SectionIRCSectionDesc |
|---|---|---|---|---|---|---|---|
| CRANE ARTS LLC | |||||||
| 1400 N AMERICAN ST | PHILADELPHIA | PA | 19122 | 262877217 | $14,400 | Econ Development | |
| DELAWARE RIVER WATERFRONT CORP | |||||||
| 121 N COLUMBUS BLVD | PHILADELPHIA | PA | 19106 | 231734559 | $47,896 | Econ Development | 501 (c)(3) |
| PENNSYLVANIA CONVENTION CENTER | |||||||
| 1101 ARCH STREET | PHILADELPHIA | PA | 19107 | 230969325 | $100,000 | Econ Development | 501 (c)(6) |
| YALE REALTY CORPORATION | |||||||
| 7300 CITY AVE | PHILADELPHIA | PA | 19151 | 231628267 | $5,042 | Econ Development | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 3 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 2 | FormAndLineReferenceDesc |
| 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (true) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| John Grady | ||||||||||||
| President | $230,000 | $0 | $30,000 | $0 | $5,740 | $0 | $0 | $0 | $28,071 | $0 | $293,811 | $0 |
| anthony simonetta | ||||||||||||
| Senior Vice President | $185,000 | $0 | $15,000 | $0 | $1,052 | $0 | $41,297 | $0 | $380 | $0 | $242,729 | $0 |
| sam rhoads | ||||||||||||
| Senior Vice President | $190,000 | $0 | $15,000 | $0 | $0 | $0 | $0 | $0 | $14,696 | $0 | $219,696 | $0 |
| Anne Nevins | ||||||||||||
| Senior Vice President | $145,000 | $0 | $12,500 | $0 | $59 | $0 | $6,330 | $0 | $14,599 | $0 | $178,488 | $0 |
| Paul Deegan | ||||||||||||
| Senior Vice President | $141,730 | $0 | $7,000 | $0 | $5,736 | $0 | $0 | $0 | $19,794 | $0 | $174,260 | $0 |
| Terry Demusis | ||||||||||||
| Snr Vice Pres & Asst Secretary | $147,500 | $0 | $8,500 | $0 | $186 | $0 | $0 | $0 | $9,820 | $0 | $166,006 | $0 |
| Joseph Mee | ||||||||||||
| Assistant Secretary | $129,000 | $0 | $7,500 | $0 | $408 | $0 | $2,292 | $0 | $25,193 | $0 | $164,393 | $0 |
| Williams J Agate Jr | ||||||||||||
| Senior Vice President | $155,000 | $0 | $10,000 | $0 | $464 | $0 | $24,051 | $0 | $25,224 | $0 | $214,739 | $0 |
| Carole Bennis | ||||||||||||
| Vice President | $124,000 | $0 | $6,000 | $0 | $0 | $0 | $23,026 | $0 | $343 | $0 | $153,369 | $0 |
| Thomas Dalfo | ||||||||||||
| senior Vice President | $140,000 | $0 | $10,000 | $0 | $150 | $0 | $4,988 | $0 | $27,947 | $0 | $183,085 | $0 |
| ilene burak | ||||||||||||
| senior vice president | $125,000 | $0 | $5,800 | $0 | $117 | $0 | $0 | $0 | $27,918 | $0 | $158,835 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part I, Line 7 | PIDC 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. |
| 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 2013, the discounted interest rate assumption increased by 91 basis points, which reflected an improvement in the overall market conditions. In some cases, the increase in the discount rate resulted in a decrease of the present value of the defined benefit plan's liability from the prior year valuation, which is disclosed as $0 in Schedule J, Part II, Column (C). However, the change determined by PIDC's actuary for some employees increased due to additional pay and or remaining years of service. The impact of the change 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 change in the present value of the defined benefit plan's liability does not correspond to the actual benefit due to the Plan participants that is based on the compensation structure and years of experience, for which there was no significant changes during 2013. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | E MorrisM D'Alessio | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Directors | RelationshipDescriptionTxt |
| Transaction | $1,023,227 | TransactionAmt |
| Transaction | Health Insurance | TransactionDesc |
| Sharing Of Revenues | false | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part IV | FormAndLineReferenceDesc |
| Explanation | Philadelphia Industrial Development Corporation (PIDC) Chairman M. Walter D'Alessio serves as the Chairman of the Board at Independence Blue Cross. Edward H. Morris serves as the Treasurer on the PIDC Board, and is the Vice President at Indpendence Blue Cross (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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 4d | Other Program Services Program Service Expenses: $208,630; Grants and allocations: $0; Revenue $544,256. 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. |
| Form 990, Part VI, Line 6 | Members or Stockholders 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 the Director of Commerce and the Planning Commissioner is held by one person. |
| Form 990, Part VI, Line 7b | Decisions Subject to Approval 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, Part VI, Line 11b | Form 990 Review Process 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. |
| Form 990, Part VI, Line 12c | Conflict of Interest Policy Monitoring & Enforcement 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. |
| Form 990, Part VI, Line 15a: | Process for Determining Compensation 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 executives, 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. |
| Form 990, Part VI, Section C, Line 18 | How Documents are Made Available to the Public PIDC 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. Form 990, Part VI, Section C, Line 19 How Documents are Made Available to the Public The Corporation's financial statements, governing documents, and conflict of interest policy are not ordinarily made available to the public. |
| Form 990, Part XI, Line 5 | Reconciliation of Net Assets The change in pension and postretirement benefit other than net periodic benefit ($5,287,967) at December 31, 2013. |
| Form 990, Part IV, Section A, Line 35 | Support Schedule Pursuant to section 1.509(A)-4 of the Treasury Regulations, a 501(C)(3) organization can be the supporting organization of a 501(C)(4) organization provided that the supported organization meets the requirements under 509(A)(2). PIDC has provided Schedule A to support the determination that PIDC meets the 509(A)(2) test. |
| Form 990, Part III, Line 1 | Mission Statement PIDC has been Philadelphia's economic development agency since 1957. As a non-profit, public-private partnership founded by the City and the Greater Philadelphia Chamber of Commerce, PIDC plans and implements finance and real estate transactions throughout all neighborhoods that attract investments, jobs, and tax ratables to the city. PIDC's investments serve to diversify the City's economic base and improve the quality of life for business and residents. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (6 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd | Public Charity StatusPublicCharityStatusTxt | 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) | Yes (true) | 11 type 1 | 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 Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (true) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (true) | LoansOrGuaranteesFromOthOrgInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PIDC- Regional Development Corporation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | p | TransactionTypeTxt |
| Involved | $1,329,970 | InvolvedAmt |
| Method Of Amount Determination | Contractual Fee | MethodOfAmountDeterminationTxt |