REGIONAL INDUSTRIAL DEVELOPMENT CORP OF SOUTHWESTERN PENNSYLVANIA (EIN 251033264) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

MARIAN D KURTA

Phone

4123156440

Tax Period

2023-01-01 to 2023-12-31

REGIONAL INDUSTRIAL DEVELOPMENT CORP OF SOUTHWESTERN PENNSYLVANIA, founded in 1955, is a mid-sized nonprofit that reported $24.8M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $4.7M, a strong 19% operating margin.

Mission

THE MISSION OF THE REGIONAL INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTHWESTERN PENNSYLVANIA IS TO CATALYZE AND SUPPORT ECONOMIC GROWTH AND HIGH QUALITY JOB CREATION THROUGH REAL ESTATE DEVELOPMENT AND FINANCE OF PROJECTS THAT ADVANCE THE PUBLIC INTEREST.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $686,974

Program Service Revenue $19,022,730

Investment Income $4,970,663

Other Revenue $117,035

TOTAL REVENUE $24,797,402

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,549,922

Fundraising Expenses $0

Program Expenses $20,119,688

Other Expenses $14,569,766

TOTAL EXPENSES $20,119,688

Year-over-Year Comparison

	2023	2022	Change
Revenue	$24,797,402	$22,677,325	+0.1%
Expenses	$20,119,688	$20,523,426	0.0%
Net Income	$4,677,714	$2,153,899	+1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,850,590

Total Directors

$668,647

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SMITH DONALD F JR	PRESIDENT	35.00	Officer Director	$624,782	$43,865	$668,647
BLOCKSIDGE CHARLES T	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
DESANTIS MARK	DIRECTOR	0.50	Director	$0	$0	$0
FITZGERALD RICH	DIRECTOR EX-OFFICIO	0.50	Director	$0	$0	$0
HUNT WILLIAM	DIRECTOR/VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
KURTZROCK MARK JAY	DIRECTOR/VICE CHAIRMAN	1.50	Officer Director	$0	$0	$0
MCNULTY TIMOTHY P	DIRECTOR	0.50	Director	$0	$0	$0
MARR MICHAEL	DIRECTOR	0.50	Director	$0	$0	$0
MONDI PATRICK	DIRECTOR	0.50	Director	$0	$0	$0
RUTENBAR ROB	DIRECTOR	0.50	Director	$0	$0	$0
PEASE ROBERT B	DIRECTOR EMERITUS	0.50	Director	$0	$0	$0
RUSSO AUDREY	DIRECTOR	0.50	Director	$0	$0	$0
STEPHENSON SAMUEL J	CHAIRMAN/DIRECTOR	1.00	Officer Director	$0	$0	$0
VOLPATTI KRIS	DIRECTOR	0.50	Director	$0	$0	$0
GIOVANNITTI JENNIFER	DIRECTOR	0.50	Director	$0	$0	$0
HANNON MICHAEL J	DIRECTOR	0.50	Director	$0	$0	$0
O'BRIEN TIM	DIRECTOR	0.50	Director	$0	$0	$0
OSCHE LESLIE	DIRECTOR	0.50	Director	$0	$0	$0
BELL MARGARET	DIRECTOR	0.50	Director	$0	$0	$0
GAINEY ED	DIRECTOR EX-OFFICIO	0.50	Director	$0	$0	$0
PROCTOR DANIELLE	DIRECTOR	0.50	Director	$0	$0	$0
SBROCCO GREG	DIRECTOR	0.50	Director	$0	$0	$0
CLARK G REYNOLDS	DIRECTOR EMERITUS	0.50	Director	$0	$0	$0
CHIMKA LANCE	DIRECTOR EMERITUS	0.50	Director	$0	$0	$0
DAVIN DENNIS	DIRECTOR	0.50	Director	$0	$0	$0
WENIGER STACEY	DIRECTOR	0.50	Director	$0	$0	$0
WHITE TIMOTHY F	SENIOR VP - DEVELOPMENT	35.00	Officer	$377,057	$50,654	$427,711
HOBBES JASON W	CORPORATE SECRETARY	35.00	Officer	$218,100	$39,603	$257,703
GOLDSTROM MICHAEL	SENIOR VP - REAL ESTATE	35.00	Officer	$297,129	$43,766	$340,895
KURTA MARIAN D	TREASURER	35.00	Officer	$122,235	$33,399	$155,634
PINELLI CHRISTOPHER	DIRECTOR, PROPERTY MGMT	35.00	Highest	$179,565	$21,649	$201,214
HEINRICHER MICHAEL	DIRECTOR, ASSET MANAGEMENT	35.00	Highest	$160,532	$35,928	$196,460
BUECHLI JOHN	SENIOR CONSTRUCTION MANAGER	35.00	Highest	$143,149	$34,579	$177,728
MILLER KEITH	DIRECTOR OF SITE DEVELOPMENT	35.00	Highest	$149,368	$35,636	$185,004
COOPER JENI	DIRECTOR OF COMMUNITY INVESTMENT	35.00	Highest	$127,325	$21,555	$148,880
JOYCE DENNIS M RET 62022	FORMER CHIEF OPERATING OFFICER	0.00		$150,000	$0	$150,000

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$24,797,402	$20,119,688	$180,382,745	$4,677,714
2022	$22,677,325	$20,523,426	$178,165,590	$2,153,899
2021	$33,758,702	$20,610,286	$178,323,730	$13,148,416
2020	$24,454,841	$22,095,786	$165,015,702	$2,359,055
2019	$33,738,024	$23,289,991	$163,261,708	$10,448,033
2018	$26,673,125	$24,549,580	$161,597,135	$2,123,545

REGIONAL INDUSTRIAL DEVELOPMENT CORP OF SOUTHWESTERN PENNSYLVANIA