Invest Pgh Inc
- Assets
- $7.3m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- Data as of
- 12/2023
- EIN
- 85-0976761
Organization Overview
Invest Pgh Inc is located in Pittsburgh, PA. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, 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. Invest Pgh Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Invest Pgh Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 39.3% each year . All expenses for the organization totaled $615.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Invest Pgh Inc has awarded 24 individual grants totaling $480,000. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
INVEST PGH IS A NONPROFIT AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ORGANIZATION THAT AIDS SMALL BUSINESS AND AFFORDABLE HOUSING INITIATIVES THROUGHOUT THE CITY OF PITTSBURGH. (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVEST PGH AIMS TO PROVIDE SMALL BUSINESS LENDING IN THE CITY OF PITTSBURGH. UNDER ITS MICROENTERPRISE AND ABEL LOAN PROGRAMS, THE ORGANIZATION EXECUTED SEVERAL LOANS WITH VARIOUS BORROWERS WITH ORIGINAL PRINCIPAL AMOUNTS VARYING BETWEEN 5,000 AND 150,000. UNDER ITS CRIB LOAN PROGRAM, THE ORGANIZATION EXECUTED SEVERAL LOANS WITH VARIOUS BORROWERS WITH ORIGINAL PRINCIPAL AMOUNTS VARYING BETWEEN 5,000 AND 25,000.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vernard Alexander Secretary | OfficerTrustee | 1 | $0 |
Matthew Madia Treasurer | OfficerTrustee | 1 | $0 |
Maelene Myers Vice Chairpe | OfficerTrustee | 1 | $0 |
Wendell Wade Member | Trustee | 1 | $0 |
Jennifer Wilhelm Chairperson | OfficerTrustee | 15 | $0 |
Rebecca Davidson-Wagner President/ce | Officer | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $880,419 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,715 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $894,134 |
| Total Program Service Revenue | $132,910 |
| Investment income | $19,191 |
| 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 | $1,046,235 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $198,715 |
| 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 | $24,459 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,100 |
| Advertising and promotion | $4,085 |
| Office expenses | $2,174 |
| 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 | $9,700 |
| Interest | $85,675 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,650 |
| All other expenses | $0 |
| Total functional expenses | $615,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,284,532 |
| Savings and temporary cash investments | $2,022,504 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $414,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,599,928 |
| 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 | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,321,464 |
| Accounts payable and accrued expenses | $216,720 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $5,703,271 |
| Other liabilities | $0 |
| Total liabilities | $5,919,991 |
| Net assets without donor restrictions | $751,673 |
| Net assets with donor restrictions | $649,800 |
| 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 | $7,321,464 |
Grants Awarded
Over the last fiscal year, Invest Pgh Inc has awarded $190,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
EARTHEN VESSELS OUTREACH PURPOSE: LOAN FOR SMALL BUSIN | $10,000 |
ELIZABETH SETON CENTER PURPOSE: LOAN FOR SMALL BUSIN | $15,000 |
HUG ME TIGHT CHILDLIFE CENTERS PURPOSE: LOAN FOR SMALL BUSIN | $20,000 |
MOES CHILDCARE & LEARNING CENTER LL PURPOSE: LOAN FOR SMALL BUSIN | $25,000 |
MONROES CLUBHOUSE CHILDCARE CENTER PURPOSE: LOAN FOR SMALL BUSIN | $20,000 |
LA ESCUELITA ARCOIRIS PURPOSE: LOAN FOR SMALL BUSIN | $20,000 |