RIDC MILL 19B (EIN 352617410) - 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

2018

Legal Domicile

Principal Officer

MARIAN D KURTA

Phone

4123156440

Tax Period

2023-01-01 to 2023-12-31

RIDC MILL 19B, founded in 2018, is a community nonprofit in the Community Improvement sector that reported $2.7M in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $3.2M exceeded revenue, resulting in a 20% operating deficit.

Mission

RIDC MILL 19B SHALL BE OPERATED AS AN ORGANIZATION THAT IS ORGANIZED, AND AT ALL TIMES, EXCLUSIVELY, FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF REGIONAL INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTHWESTERN PENNSYLVANIA BY REVIVING PROPERTY, LESSENING NEIGHBORHOOD TENSIONS, LESSENING BURDENS OF GOVERNMENT AND COMBATING COMMUNITY DETERIORATION BY DEVELOPING AN INDUSTRIAL DEVELOPMENT PROJECT AT A LOCATION WITHIN THE CITY OF PITTSBURGH, PENNSYLVANIA.

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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 $0

Program Service Revenue $2,700,831

Investment Income $86

Other Revenue $1

TOTAL REVENUE $2,700,918

Expense Breakdown

Grants Paid $1,285,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,243,335

Other Expenses $1,958,335

TOTAL EXPENSES $3,243,335

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,700,918	$3,171,504	-0.1%
Expenses	$3,243,335	$2,347,336	+0.4%
Net Income	$-542,417	$824,168	-1.7%

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

$1,850,590

Total Directors

$668,647

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SMITH DONALD F JR	PRESIDENT	1.00	Officer Director	$0	$43,865	$668,647
SMITH MATT	DIRECTOR	0.50	Director	$0	$0	$0
ROBINSON F BROOKS JR	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
WHITE TIMOTHY F	SENIOR VP - DEVELOPMENT	1.00	Officer	$0	$50,654	$427,711
HOBBES JASON W	CORPORATE SECRETARY	1.00	Officer	$0	$39,603	$257,703
GOLDSTROM MICHAEL	SENIOR VP - REAL ESTATE	1.00	Officer	$0	$43,766	$340,895
KURTA MARIAN D	TREASURER	1.00	Officer	$0	$33,399	$155,634
PINELLI CHRISTOPHER	DIRECTOR, PROPERTY MGMT	1.00	Highest	$0	$21,649	$201,214
HEINRICHER MICHAEL	DIRECTOR, ASSET MANAGEMENT	1.00	Highest	$0	$35,928	$196,460
BUECHLI JOHN	CONSTRUCTION MANAGER	1.00	Highest	$0	$34,579	$177,728
MILLER KEITH	DIRECTOR OF SITE DEVELOPMENT	1.00	Highest	$0	$35,636	$185,004
COOPER JENI	DIRECTOR OF COMMUNITY INVESTMENT	1.00	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	$2,700,918	$3,243,335	$19,750,510	$-542,417
2022	$3,171,504	$2,347,336	$20,579,906	$824,168
2021	$3,119,994	$1,946,423	$20,889,491	$1,173,571
2020	$3,440,629	$1,443,803	$21,348,622	$1,996,826
2019	$2,539,995	$3,498,734	$21,334,827	$-958,739

RIDC MILL 19B