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
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
48 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.
Questions for Pidc-Local Development Corporation
Your first name shows with your question. Pidc-Local Development Corporation answers here, for everyone.
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Support Growth & Resilience of Businesses and Developers
Pidc-ldc invests flexible, affordable capital in growing local businessesthe backbone of our economybecause they create jobs, build wealth for entrepreneurs, and stabilize neighborhoods. Pidc-ldc also supports developers in financing community-oriented projects.
Investing in High Impact Revitalization
Pidc-ldc plays a critical role as a trusted conduit to increase access, reduce complexity, and successfully deliver economic development resources from our partners to a broad range of clients to support high impact community revitalization projects in 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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $95.3M | $96.5M |
| InvestmentsLn 11–13 | $1.2M | $1.2M |
| Total assetsLn 16 | $223.2M | $203.5M |
| LiabilitiesLn 26 | $130.9M | $130.3M |
| Net assetsLn 32 | $92.3M | $73.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $1.8M | $1.8M | ||
| Management feesLn 11a | $950K | $950K | ||
| InterestLn 20 | $1.7M | $1.7M | ||
| Depreciation, depletion and amortizationLn 22 | $27K | $27K | ||
| Other expenses (24a–d)Ln 24 | $24.3M | $24.3M | $36K | |
| Total functional expensesLn 25 | $28.8M | $28.8M | $36K | $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 Viewing | $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 | $13.5M | $7.6M | $6.0M | $74.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $9,742,512 revenue, 12 lines filed
Part VI · Governance 30 of 30 board members independent, 1 to look at
Part VIII · Statement of revenue $9,742,512 across 6 lines filed
Part IX · Statement of functional expenses $28,799,420 across 5 lines filed
Part X · Balance sheet $203,539,067 assets, 13 lines filed
Part XI · Reconciliation of net assets $73,250,325 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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