Pittsburgh Economic And Industrial Development Corporation
- Assets
- $1.8m
- Revenue
- $47.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 11/1995
- Data as of
- 12/2023
- EIN
- 25-1758627
Organization Overview
Pittsburgh Economic And Industrial Development Corporation is located in Pittsburgh, PA. The organization was established in 1995. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pittsburgh Economic And Industrial Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PURPOSE IS TO FORMULATE, IMPLEMENT AND PROMOTE COMMERCIAL, INDUSTRIAL AND OTHER ECONOMIC DEVELOPMENT GOALS, STRATEGIES AND PROJECTS IN THE CITY OF PITTSBURGH. THIS INCLUDES PURCHASE AND MASTER-LEASING OF REAL ESTATE, AS WELL AS PROVIDING LOANS AND LEASES TO OTHER ENTITIES SO AS TO FURTHER ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PURCHASES REAL ESTATE FOR ECONOMIC DEVELOPMENT IN THE CITY OF PITTSBURGH. ALSO, PRIVATE AND PUBLIC FINANCING INCLUDING LOW INTEREST LOANS TO SELLERS AND LEASES REAL ESTATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca Davidson-Wagner Treasurer | OfficerTrustee | 1 | $0 |
Malik Bankston Board Member | Trustee | 1 | $0 |
Glenn Groninger Chairman | OfficerTrustee | 1 | $0 |
Thomas Hardy Board Member | Trustee | 1 | $0 |
Lauren Connelly Board Member | Trustee | 1 | $0 |
Monica Ruiz Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $33,440 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,440 |
| Total Program Service Revenue | $0 |
| Investment income | $14,126 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,566 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,974 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,113 |
| All other expenses | $0 |
| Total functional expenses | $82,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,217 |
| Savings and temporary cash investments | $1,498,794 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,901 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $136,791 |
| Total assets | $1,829,703 |
| Accounts payable and accrued expenses | $13,981 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $220,457 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $234,438 |
| Net assets without donor restrictions | $1,595,265 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,829,703 |