THE RIDC REGIONAL GROWTH FUND

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1985

Legal Domicile

Principal Officer

MARIAN D KURTA

Phone

4123156440

Tax Period

2023-01-01 to 2023-12-31

THE RIDC REGIONAL GROWTH FUND, founded in 1985, is a mid-sized nonprofit in the Community Improvement sector that reported $17.5M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.9M, a strong 16% operating margin.

Mission

SUPPORT ORGANIZATION FOR RIDC OF SOUTHWESTERN PENNSYLVANIA, PROVIDING DIVERSIFIED ECONOMIC DEVELOPMENT SERVICES TO BUSINESS AND INDUSTRY.

Program Service Accomplishments

Program 1

Expenses: $13,411,106 Revenue: $16,563,477

THE REGIONAL GROWTH FUND WAS INCORPORATED IN 1985 TO PROMOTE EDUCATIONAL AND TRAINING PROGRAMS IN AREAS SUCH AS COMPUTER SCIENCE, ROBOTICS, MEDICAL INSTRUMENTATION, AND ADVANCED TECHNOLOGY BY...

THE REGIONAL GROWTH FUND WAS INCORPORATED IN 1985 TO PROMOTE EDUCATIONAL AND TRAINING PROGRAMS IN AREAS SUCH AS COMPUTER SCIENCE, ROBOTICS, MEDICAL INSTRUMENTATION, AND ADVANCED TECHNOLOGY BY PROVIDING FACILITIES AND FINANCING TO COLLEGES AND UNIVERSITIES IN SOUTHWESTERN PENNSYLVANIA. THE PRINCIPAL PROJECT OF THE REGIONAL GROWTH FUND IS THE MANAGEMENT AND DEVELOPMENT OF THE 2,800,000 SQUARE FOOT FORMER VOLKSWAGEN PLANT/SONY FACTORY LOCATED IN WESTMORELAND COUNTY, PENNSYLVANIA.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $955,302

Program Service Revenue $16,554,674

Investment Income $3,993

Other Revenue $8,803

TOTAL REVENUE $17,522,772

Expense Breakdown

Grants Paid $0

Salaries & Benefits $381,105

Fundraising Expenses $0

Program Expenses $13,411,106

Other Expenses $14,253,173

TOTAL EXPENSES $14,634,278

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,522,772	$13,086,181	+0.3%
Expenses	$14,634,278	$12,542,459	+0.2%
Net Income	$2,888,494	$543,722	+4.3%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

N/A

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	4.00	Officer Director	$0	$43,865	$668,647
KURTZROCK MARK JAY	DIRECTOR/VICE CHAIRMAN	0.50	Director	$0	$0	$0
STEPHENSON SAMUEL J	CHAIRMAN/DIRECTOR	0.50	Officer Director	$0	$0	$0
HUNT WILLIAM	DIRECTOR/VICE CHAIRMAN	0.50	Officer Director	$0	$0	$0
MCNULTY TIMOTHY P	DIRECTOR	0.50	Director	$0	$0	$0
GIOVANNITTI JENNIFER	DIRECTOR	0.50	Director	$0	$0	$0
MONDI PATRICK	DIRECTOR	0.50	Director	$0	$0	$0
RUSSO AUDREY	DIRECTOR	0.50	Director	$0	$0	$0
WHITE TIMOTHY F	SENIOR VP - DEVELOPMENT	4.00	Officer	$0	$50,654	$427,711
HOBBES JASON W	CORPORATE SECRETARY	4.00	Officer	$0	$39,603	$257,703
GOLDSTROM MICHAEL	SENIOR VP - REAL ESTATE	4.00	Officer	$0	$43,766	$340,895
KURTA MARIAN D	TREASURER	4.00	Officer	$0	$33,399	$155,634
PINELLI CHRISTOPHER	DIRECTOR, PROPERTY MGMT	4.00	Highest	$0	$21,649	$201,214
HEINRICHER MICHAEL	DIRECTOR, ASSET MANAGEMENT	4.00	Highest	$0	$35,928	$196,460
BUECHLI JOHN	CONSTRUCTION MANAGER	4.00	Highest	$0	$34,579	$177,728
MILLER KEITH	DIRECTOR OF SITE DEVELOPMENT	4.00	Highest	$0	$35,636	$185,004
COOPER JENI	DIRECTOR OF COMMUNITY INVESTMENT	4.00	Highest	$0	$21,555	$148,880
JOYCE DENNIS M RET 622	FORMER CHIEF OPERATING OFFICER	0.00		$0	$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	$17,522,772	$14,634,278	$41,082,912	$2,888,494
2022	$13,086,181	$12,542,459	$37,936,694	$543,722
2021	$9,947,122	$11,274,118	$36,670,171	$-1,326,996
2020	$9,031,999	$10,389,481	$32,881,344	$-1,357,482
2019	$7,330,520	$10,171,688	$35,182,259	$-2,841,168
2018	$10,597,890	$9,904,427	$32,448,569	$693,463