Pittsburgh Economic and Industrial Development Corporation

EIN: 251758627 501(c)(3) Community Improvement

Pittsburgh, PA

Total Revenue
$473,994
Total Expenses
$118,730
Total Assets
$2,331,134
Net Assets
$1,950,529
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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
1995
Legal Domicile
PA
Principal Officer
Glenn Groninger
Phone
4122556588
Tax Period
2024-01-01 to 2024-12-31

Pittsburgh Economic and Industrial Development Corporation, founded in 1995, is a small nonprofit in the Community Improvement sector that reported $474K in total revenue in fiscal year 2024. Revenue surged 896% from the prior year, signaling strong growth momentum. The organization ran a surplus of $355K, a strong 75% operating margin.

Mission

The Organization's purpose is to formulate, implement and promote commercial, industrial and other economic development goals, strategies and projects in the City of Pittsburgh. This includes purchase and master-leasing of real estate, as well as providing loans and leases to other entities so as to further economic development.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $424,523
Program Service Revenue $0
Investment Income $49,471
Other Revenue $0
TOTAL REVENUE $473,994

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $936
Other Expenses $118,730
TOTAL EXPENSES $118,730

Year-over-Year Comparison

2024 2023 Change
Revenue $473,994 $47,566 +9.0%
Expenses $118,730 $82,316 +0.4%
Net Income $355,264 $-34,750 -11.2%
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

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Governance

Voting Members
9
Independent Members
9
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
4
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Rebecca Davidson-Wagner Treasurer 1.00
Officer Director
$0 $0 $0
DeAnna Davis Board Member 1.00
Director
$0 $0 $0
Glenn Groninger Chairman 1.00
Officer Director
$0 $0 $0
Jason Hobbes Board Member 1.00
Director
$0 $0 $0
Lori Moran Board Member 1.00
Director
$0 $0 $0
Monica Ruiz Board Member 1.00
Director
$0 $0 $0
Claudia Steeb Board Member 1.00
Director
$0 $0 $0
Thomas Link Secretary 1.00
Officer Director
$0 $0 $0
Lindsay Powell Vice Chair 1.00
Officer Director
$0 $0 $0
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 $473,994 $118,730 $2,331,134 $355,264
2023 $47,566 $82,316 $1,829,703 $-34,750
2022 $-231,501 $258,581 $1,862,011 $-490,082
2021 $-293,332 $53,881 $2,360,401 $-347,213
2020 $334,523 $403,107 $2,758,718 $-68,584
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