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Ridc Mill 19b FY2020 filing

Tax-deductible

Pittsburgh, PA501(c)(3)Community Development EIN 35-2617410Revenue $3.4M in FY2020

On file with the IRSridc.org267 Kappa Dr, 15238-2817 · Pittsburgh, PATax-exempt since Oct 2019Supporting org, Type I — 509(a)(3)

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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.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $604K a year · 20% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$20.9M
98% of total assets
Concern: liabilities are 98% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.4M
Spent
$1.4M
To programs
100%
Net assets
$454K
By yearFY2020–FY2024
Revenue
$3.4M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$3.4M
FY2021$3.1M
FY2022$3.2M
FY2023$2.7M
FY2024$2.6M
Expenses
$1.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.9M
FY2022$2.3M
FY2023$3.2M
FY2024$3.1M
Net assets
$454K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$454K
FY2021$1.6M
FY2022$2.5M
FY2023$1.9M
FY2024$1.5M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.4M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Clark G Reynolds
Chairman/Director
$0Pt VII · Sec A
Buss Sara Davis Esquire
Director/Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Joyce Dennis M
Chief Operating Officer
$0Pt VII · Sec A
Poremski Colleen B
Asst. Corporate Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ridc Mill 19b executive salaries →

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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

Revives property and combats community deterioration by developing an industrial project.

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Provided by the organization

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1 program · $1.4M · in their own filed words · FY2020
01

Ridc mill 19b a non-profit corporation, was incorporated in 2018 to serve as a qualified low income community business("qalicb") entity that owns and operates the mill 19b building in the hazelwood neighborhood of pittsburgh, pennsylvania.

$1.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 3 grants · $2.7M · 2022–2024
Ridc Southwestern Pennsylvania Growth FundPA · FY2024$1,150,000
Ridc Southwestern Pennsylvania Growth FundPA · FY2023$1,285,000
Ridc Southwestern Pennsylvania Growth FundPA · FY2022$310,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.4M
Ln 12
Gifts and grantsLn 1h$2.5M
Investment incomeLn 3$979K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.4M
Owns and owesPt X
$454K
net assets · Ln 32
Cash and savingsLn 1–2$621K
Total assetsLn 16$21.3M
LiabilitiesLn 26$20.9M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.5M
Government grantsLn 1e$2.5M
Investment incomeLn 3$979K
Total revenueLn 12$3.4M
Assets in detailPt X, end of year
CashLn 1$199K
SavingsLn 2$422K
Cash and savings togetherLn 1–2$621K
Land, buildings, equipmentLn 10c$20.0M
Other assetsLn 15$1K
Total assetsLn 16$21.3M
LiabilitiesLn 26$20.9M
Net assetsLn 32$454K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$4.7M$621K
Land, buildings, equipmentLn 10c$0$20.0M
Total assetsLn 16$21.3M$21.3M
LiabilitiesLn 26$22.9M$20.9M
Net assetsLn 32−$1.5M$454K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$16K$16K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$42K$42K
Advertising and promotionLn 12$2K$2K
TravelLn 17$45$45
InterestLn 20$442K$442K
Depreciation, depletion and amortizationLn 22$424K$424K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$505K$505K
Total functional expensesLn 25$1.4M$1.4M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.6M$3.1M−$431K$1.5M 990 PDF
FY2023 $2.7M$3.2M−$542K$1.9M 990 PDF
FY2022 $3.2M$2.3M$824K$2.5M 990 PDF
FY2021 $3.1M$1.9M$1.2M$1.6M 990 PDF
FY2020 Viewing $3.4M$1.4M$2.0M$454K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $3,440,629 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,538,129$2,461,871
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $1,866$978,758
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,539,995$3,440,629
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,498,734$1,443,803
I-18 Total expensesPrior year $3,498,734$1,443,803
I-19 Revenue less expensesPrior year −$958,739$1,996,826
Part VI · Governance 4 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $3,440,629 across 4 lines filed
VIII-1e Government grants$2,461,871
VIII-1h Total contributions, gifts and grants$2,461,871
VIII-3 Investment incomeExcluded from tax $978,758$978,758
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $978,758$3,440,629
Part IX · Statement of functional expenses $1,443,803 across 9 lines filed
IX-11a Management feesPrograms $15,573$15,573
IX-11c Accounting feesPrograms $4,390$4,390
IX-11g Other fees for servicesPrograms $41,516$41,516
IX-12 Advertising and promotionPrograms $2,011$2,011
IX-17 TravelPrograms $45$45
IX-20 InterestPrograms $441,521$441,521
IX-22 Depreciation, depletion and amortizationPrograms $423,508$423,508
IX-23 InsurancePrograms $10,412$10,412
IX-24 Other expenses (24a–d)Programs $504,827$504,827
IX-25 Total functional expensesPrograms $1,443,803 · Management $0 · Fundraising $0$1,443,803
Part X · Balance sheet $21,348,622 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $4,124,474$198,824
X-2 Savings and temporary cash investmentsStart of year $580,929$422,060
X-3 Pledges and grants receivableStart of year $1,000,000$25,000
X-4 Accounts receivableStart of year $0$694,290
X-9 Prepaid expenses and deferred chargesStart of year $1,500$3,778
X-10c Land, buildings and equipment, netStart of year $0$20,003,387
X-15 Other assetsStart of year $15,627,924$1,283
X-16 Total assetsStart of year $21,334,827$21,348,622
X-17 Accounts payable and accrued expensesStart of year $11,526,633$2,058,848
X-19 Deferred revenueStart of year $253,519$560,652
X-26 Total liabilitiesStart of year $22,877,346$20,894,315
X-27 Net assets without donor restrictionsStart of year −$1,542,519$454,307
X-32 Total net assets or fund balancesStart of year −$1,542,519$454,307
X-33 Total liabilities and net assetsStart of year $21,334,827$21,348,622
Part XI · Reconciliation of net assets $454,307 net assets at year end
XI-1 Total revenue$3,440,629
XI-2 Total expenses$1,443,803
XI-3 Revenue less expenses$1,996,826
XI-4 Net assets at start of year−$1,542,519
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$454,307

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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