Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2011.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
99 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Who runs it and what they're paid
46 people listed on the 990.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Manages government-funded grant and loan programs to drive economic development and job growth throughout the City of Philadelphia.
This section is blank until Pidc-Local Development Corporation claims this page.
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Investing in High Impact Community Revitalization
Pidc-ldc invests in high-impact community revitalization projects to bring critical goods and services, create jobs, and eliminate blight throughout the city of philadelphia. In 2020, pidc invested $40m through 16 loans in catalytic projects in neighborhoods throughout philadelphia.
Contract Management
Manage various loans and grant programs on behalf of the city of philadelphia, commonwealth of pennsylvania and federal agencies that serve to retain and grow employment in philadelphia. In march, the city of philadelphia and pidc launched the philadelphia COVID-19 small business relief fund as a tiered grant and loan program designed to…
See Schedule Osupporting Growing Businesses
Pidc-ldc provides investment capital to philadelphia's growing technology-based, seed stage business community. Pidc-ldc actively works to cultivate philadelphia's entrepreneur climate and provides financing to bridge the period between the early development of intellectual property and the point at which a company attracts the attention…
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $82.7M | $94.2M |
| InvestmentsLn 11–13 | $1.2M | $1.0M |
| Total assetsLn 16 | $227.2M | $220.0M |
| LiabilitiesLn 26 | $153.8M | $146.0M |
| Net assetsLn 32 | $73.3M | $74.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $4.1M | $4.1M | ||
| Management feesLn 11a | $850K | $850K | ||
| InterestLn 20 | $2.2M | $2.2M | ||
| Depreciation, depletion and amortizationLn 22 | $28K | $28K | ||
| Other expenses (24a–d)Ln 24 | $412K | $367K | $45K | |
| Total functional expensesLn 25 | $7.6M | $7.5M | $45K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $8.9M | $13.9M | −$5.0M | $68.1M | 990 PDF |
| FY2023 | $9.7M | $28.8M | −$19.1M | $73.3M | 990 PDF |
| FY2022 | $11.5M | $2.5M | $9.0M | $92.3M | 990 PDF |
| FY2021 | $6.5M | $4.2M | $2.3M | $83.3M | 990 PDF |
| FY2020 Viewing | $13.5M | $7.6M | $6.0M | $74.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $13,534,095 across 6 lines filed
Part IX · Statement of functional expenses $7,578,218 across 5 lines filed
Part X · Balance sheet $219,967,614 assets, 13 lines filed
Part XI · Reconciliation of net assets $73,980,022 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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