PIDC-FINANCING CORPORATION

EIN: 364665239 Community Improvement

PHILADELPHIA, PA

Total Revenue
$29,258
Total Expenses
$22,373
Total Assets
$6,861,720
Net Assets
$6,237,954
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
PA
Principal Officer
JODIE HARRIS
Phone
2154968020
Tax Period
2023-01-01 to 2023-12-31

PIDC-FINANCING CORPORATION, founded in 1968, is a micro nonprofit in the Community Improvement sector that reported $29K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $7K, a strong 24% operating margin.

Mission

PIDC FINANCING CORPORATION (PIDC FC) ADMINISTERS LOAN PROGRAMS THAT ARE FUNDED BY THE COMMONWEALTH OF PENNSYLVANIA, INCLUDING THE PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY (PIDA) LOAN PROGRAM. PIDC RELEASED THE 2023-2026 STRATEGIC FRAMEWORK AS A ROADMAP TO ACHIEVE ITS MISSION AND STRIVE TOWARD A MORE INCLUSIVE, EQUITABLE, AND SUSTAINABLE PHILADELPHIA WHERE ALL RESIDENTS BENEFIT FROM ECONOMIC DEVELOPMENT AND A GROWING GLOBAL ECONOMY. IT IS DESIGNED TO HELP PIDC MAKE RESOURCE ALLOCATION AND STRATEGIC PARTNERSHIP DECISIONS THAT ALIGN WITH THE ORGANIZATION'S VISION, MISSION, THEORY OF CHANGE AND TO ALIGN PIDC'S STAKEHOLDERS AROUND A COMMON VISION AND GOAL. THE FRAMEWORK IS GROUNDED IN THREE INTEGRAL AND INTERSECTING LENSES IMPERATIVE TO INFORMING PIDC'S APPROACH TO ACHIEVING AND DELIVERING ON ITS MISSION. LENSES ARE PRINCIPLES THAT INFORM THE WORLD VIEW OR PERSPECTIVE OF PIDC AND PROVIDE FOCUS AND DIRECTION FOR PIDC'S SCOPE AND APPROACH TO ACHIEVING ITS MISSION. THESE THREE LENSES

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $28,014
Investment Income $1,244
Other Revenue $0
TOTAL REVENUE $29,258

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $22,373
Other Expenses $22,373
TOTAL EXPENSES $22,373

Year-over-Year Comparison

2023 2022 Change
Revenue $29,258 $44,847 -0.3%
Expenses $22,373 $840 +25.6%
Net Income $6,885 $44,007 -0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
30
Independent Members
30
Employees
N/A
Volunteers
30

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
9
$1,493,757
Total Directors
30
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SALVATORE J PATTI CHAIR 1.30
Officer Director
$0 $0 $0
ANDREA R ALLON VICE CHAIR 0.04
Officer Director
$0 $0 $0
KEVIN R BOYLE SECRETARY 0.55
Officer Director
$0 $0 $0
TUMAR ALEXANDER DIRECTOR 0.55
Director
$0 $0 $0
CRAIG R CARNAROLI DIRECTOR 0.04
Director
$0 $0 $0
DOMINIQUE CASIMIR DIRECTOR 0.08
Director
$0 $0 $0
HONORABLE DARRELL L CLARKE DIRECTOR 0.55
Director
$0 $0 $0
DIANA P CORTES ESQ DIRECTOR 0.04
Director
$0 $0 $0
FRED COSENZA DIRECTOR 0.08
Director
$0 $0 $0
ROB DUBOW DIRECTOR 0.55
Director
$0 $0 $0
ANNE FADULLON DIRECTOR 0.55
Director
$0 $0 $0
REGINALD C FULLER III DIRECTOR 0.01
Director
$0 $0 $0
JAY GOLDSTEIN DIRECTOR 1.30
Director
$0 $0 $0
LEE HUANG DIRECTOR 0.01
Director
$0 $0 $0
HONORABLE KENYATTA JOHNSON DIRECTOR 0.55
Director
$0 $0 $0
HONORABLE CURTIS JONES JR DIRECTOR 0.55
Director
$0 $0 $0
LEROY E JONES DIRECTOR 0.01
Director
$0 $0 $0
BRIAN T KEECH DIRECTOR 0.08
Director
$0 $0 $0
HONORABLE JAMES F KENNEY DIRECTOR 0.55
Director
$0 $0 $0
JUAN LOPEZ DIRECTOR 1.30
Director
$0 $0 $0
JENNIFER L MAHER ESQ DIRECTOR 0.01
Director
$0 $0 $0
SUZANNE S MAYES ESQ DIRECTOR 0.55
Director
$0 $0 $0
ELIZABETH A MURPHY DIRECTOR 0.01
Director
$0 $0 $0
ANNE K NADOL DIRECTOR 0.55
Director
$0 $0 $0
MICHAEL K PEARSON DIRECTOR 0.01
Director
$0 $0 $0
BRET PERKINS DIRECTOR 0.55
Director
$0 $0 $0
ANGELO R PERRYMAN DIRECTOR 0.01
Director
$0 $0 $0
WILLIAM R SAUTTER DIRECTOR 0.01
Director
$0 $0 $0
EVELYN F SMALLS DIRECTOR 0.08
Director
$0 $0 $0
ROBERT C WONDERLING DIRECTOR 0.04
Director
$0 $0 $0
ANNE NEVINS PRESIDENT (THRU 01/2023) 0.50
Officer
$0 $1,712 $85,388
SAM RHOADS EXECUTIVE VICE PRESIDENT 0.50
Officer
$0 $57,124 $336,869
TIFFANY CANADY ASST SECRETARY, SVP-CFO 17.00
Officer
$0 $60,854 $298,166
THOMAS DALFO SVP- REAL ESTATE SERVICES 4.00
Officer
$0 $70,632 $274,441
ILENE BURAK SVP- LEGAL COUNSEL 4.00
Officer
$0 $71,701 $288,727
JODIE HARRIS PRESIDENT (START 06/2023) 0.50
Officer
$0 $22,126 $210,166
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 $29,258 $22,373 $6,861,720 $6,885
2022 $44,847 $840 $6,545,769 $44,007
2021 $18,403,713 $18,374,910 $6,556,052 $28,803
2020 $89,503 $1,000,000 $6,581,591 $-910,497
2019 $401,123 $63,053 $14,429,055 $338,070
2018 $3,498,382 $7,767,963 $6,119,719 $-4,269,581
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