RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND (EIN 251603768) - 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

1989

Legal Domicile

Principal Officer

MARIAN D KURTA

Phone

4123156440

Tax Period

2024-01-01 to 2024-12-31

RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND, founded in 1989, is a community nonprofit that reported $5.0M in total revenue in fiscal year 2024. Revenue fell 51% from the prior year — a significant decline worth monitoring. Expenses of $9.7M exceeded revenue, resulting in a 96% operating deficit.

Mission

OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC TESTING FOR PUBLIC SAFETY, LITERARY, EDUCATIONAL TRAINING, COMMUNITY DEVELOPMENT, COMMUNITY CONSERVATISM, AND OTHER PUBLIC SERVICE PURPOSES PERMITTED WITHIN THE SCOPE OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,546,903

Program Service Revenue $2,854,031

Investment Income $540,943

Other Revenue $25,492

TOTAL REVENUE $4,967,369

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $9,743,418

Other Expenses $9,743,418

TOTAL EXPENSES $9,743,418

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,967,369	$10,065,172	-0.5%
Expenses	$9,743,418	$15,734,360	-0.4%
Net Income	$-4,776,049	$-5,669,188	-0.2%

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

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

$1,994,360

Total Directors

$712,374

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SMITH DONALD F JR	PRESIDENT	4.00	Officer Director	$644,830	$67,544	$712,374
KURTZROCK MARK JAY	DIRECTOR	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/ VICE CHAIRMAN	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	$403,277	$50,493	$453,770
HOBBES JASON W	CORPORATE SECRETARY	4.00	Officer	$231,291	$41,417	$272,708
GOLDSTROM MICHAEL	SENIOR VP - REAL ESTATE	4.00	Officer	$332,009	$50,074	$382,083
KURTA MARIAN D	TREASURER	4.00	Officer	$138,291	$35,134	$173,425
PINELLI CHRISTOPHER	DIRECTOR, PROPERTY MGMT	4.00	Highest	$186,304	$22,460	$208,764
HEINRICHER MICHAEL	DIRECTOR, ASSET MANAGEMENT	4.00	Highest	$171,745	$31,272	$203,017
BUECHLI JOHN	SENIOR CONSTRUCTION MANAGE	4.00	Highest	$152,309	$36,262	$188,571
MILLER KEITH	DIRECTOR OF SITE DEVELOPME	4.00	Highest	$157,696	$30,852	$188,548
COOPER JENI	DIRECTOR OF COMMUNITY INVE	4.00	Highest	$171,977	$31,534	$203,511

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	$4,967,369	$9,743,418	$126,778,420	$-4,776,049
2023	$10,065,172	$15,734,360	$117,522,975	$-5,669,188
2022	$16,116,168	$12,295,559	$113,446,644	$3,820,609
2021	$5,640,315	$6,603,377	$94,671,467	$-963,062
2020	$5,810,090	$5,746,951	$90,659,515	$63,139
2019	$3,790,137	$4,838,230	$87,416,989	$-1,048,093
2018	$3,713,487	$5,670,016	$75,245,457	$-1,956,529

RIDC OF SOUTHWESTERN PENNSYLVANIA GROWTH FUND