Pidc Financing Corp
- Assets
- $6.5m
- Revenue
- $44.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 02/2011
- Data as of
- 12/2022
- EIN
- 36-4665239
Organization Overview
Pidc Financing Corp is located in Philadelphia, PA. The organization was established in 2011. According to its NTEE Classification (S30) the organization is classified as: 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. Pidc Financing Corp is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Pidc Financing Corp generated $44.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (58.2%) each year. All expenses for the organization totaled $840.0 during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (83.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Pidc Financing Corp has awarded 774 individual grants totaling $16,350,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PIDC FC ADMINISTERS LOAN PROGRAMS THAT ARE FUNDED BY THE (SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING GROWING BUSINESSES: INCLUDES THE SERVICING AND ADMINISTRATION OF THE PIDA LOAN PROGRAM THAT ARE FUNDED BY THE COMMONWEALTH OF PENNSYLVANIA. AT DECEMBER 31, 2022 THE PIDA LOAN PORTFOLIO TOTALED $5 MILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Salvatore J Patti Chair | OfficerTrustee | 0.04 | $0 |
Andrea R Allon Vice Chair | OfficerTrustee | 0.04 | $0 |
Kevin R Boyle Secretary | OfficerTrustee | 0.04 | $0 |
Tumar Alexander Director | Trustee | 0.04 | $0 |
Craig R Carnaroli Director | Trustee | 0.04 | $0 |
Dominique Casimir Director | Trustee | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $29,003 |
| Investment income | $13,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,818 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,847 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $840 |
| Total functional expenses | $840 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,405,913 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,409 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,283 |
| Intangible assets | $0 |
| Other assets | $1,135,164 |
| Total assets | $6,545,769 |
| Accounts payable and accrued expenses | $82 |
| Grants payable | $0 |
| Deferred revenue | $8,973 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $25,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $280,645 |
| Total liabilities | $314,700 |
| Net assets without donor restrictions | $6,231,069 |
| 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 | $6,545,769 |
Grants Awarded
Over the last fiscal year, Pidc Financing Corp has awarded $16,350,000 in support to 774 organizations.
| Grant Recipient | Amount |
|---|---|
12 STEPS DOWN LLC PURPOSE: HOSPITALITY INDUSTRY RECOVERY GRANT | $25,000 |
11TH STREET PRETZEL FAC PURPOSE: HOSPITALITY INDUSTRY RECOVERY GRANT | $25,000 |
120 LOMBARD INC PURPOSE: HOSPITALITY INDUSTRY RECOVERY GRANT | $25,000 |
1128 LUZERNE INC PURPOSE: HOSPITALITY INDUSTRY RECOVERY GRANT | $10,000 |
112 J & J INC PURPOSE: HOSPITALITY INDUSTRY RECOVERY GRANT | $20,000 |
1225 RAW INC PURPOSE: HOSPITALITY INDUSTRY RECOVERY GRANT | $25,000 |