Civic Intelligence

Ridc Ltc 48

990 • Fiscal year 2023 • EIN 81-1907116

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization ProfileWWW.RIDC.ORG
267 Kappa DrivePittsburgh, PA 15238

(412) 315-6440

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

0.85x

Higher debt load relative to assets than 89% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

88th percentile

1.90x

Higher debt load relative to revenue than 88% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

91st percentile

55%

Higher net margin than 91% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

94th percentile

$668,647

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 8.8% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

22nd percentile

-2.1%

Faster asset growth than 22% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

201%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$16,915,646

Down $354,470 (-2.1%) from 2022

Net Assets

Up

$2,546,639

Up $4,126,646 (+261%) from 2022

Liabilities

Down

$14,369,007

Down $4,481,116 (-24%) from 2022

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin91st percentile

Revenue

Up

$7,564,414

Up $5,050,488 (+201%) from 2022

Expenses

Up

$3,437,769

Up $527,704 (+18%) from 2022

Net Income

Up

$4,126,645

Up $4,522,784 (+1142%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$10M$0-$10MAssets 2016: $17,607,138Liabilities 2016: $17,635,790Net Assets 2016: -$28,6522016Assets 2017: $16,629,147Liabilities 2017: $16,944,266Net Assets 2017: -$315,1192017Assets 2018: $19,257,863Liabilities 2018: $19,479,599Net Assets 2018: -$221,7362018Assets 2019: $18,718,997Liabilities 2019: $19,770,285Net Assets 2019: -$1,051,2882019Assets 2020: $17,874,396Liabilities 2020: $19,232,074Net Assets 2020: -$1,357,6782020Assets 2021: $18,285,597Liabilities 2021: $19,469,465Net Assets 2021: -$1,183,8682021Assets 2022: $17,270,116Liabilities 2022: $18,850,123Net Assets 2022: -$1,580,0072022Assets 2023: $16,915,646Liabilities 2023: $14,369,007Net Assets 2023: $2,546,6392023Assets 2024: $16,289,051Liabilities 2024: $13,676,627Net Assets 2024: $2,612,4242024

Highlighted filing

2023

Assets$16,915,646
Liabilities$14,369,007
Net Assets$2,546,639
Open 2023 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2016: $0Expenses 2016: $2,745,110Net Income 2016: -$2,745,1102016Revenue 2017: $13,437Expenses 2017: $299,904Net Income 2017: -$286,4672017Revenue 2018: $1,748,838Expenses 2018: $1,655,455Net Income 2018: $93,3832018Revenue 2019: $1,481,402Expenses 2019: $2,310,954Net Income 2019: -$829,5522019Revenue 2020: $2,237,223Expenses 2020: $2,543,613Net Income 2020: -$306,3902020Revenue 2021: $2,296,986Expenses 2021: $2,123,176Net Income 2021: $173,8102021Revenue 2022: $2,513,926Expenses 2022: $2,910,065Net Income 2022: -$396,1392022Revenue 2023: $7,564,414Expenses 2023: $3,437,769Net Income 2023: $4,126,6452023Revenue 2024: $2,603,521Expenses 2024: $2,537,736Net Income 2024: $65,7852024

Highlighted filing

2023

Revenue$7,564,414
Expenses$3,437,769
Net Income$4,126,645
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$7,564,414
Mission and Program Overview

Mission

Ridc ltc 48 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 the burdens of government and combating community deterioration by developing an industrial development project at a location within the city of pittsburgh, pennsylvania.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,637,453$14,960,229▼ $677,224
Cash and Non-Interest-Bearing Accounts$863,407$1,745,178▲ $881,771
Accounts Receivable$758,786$176,182▼ $582,604
Savings and Temporary Cash Investments-$29,839-
Prepaid Expenses and Deferred Charges$4,970$4,218▼ $752
Total Assets$17,270,116$16,915,646▼ $354,470
Other Assets Total$5,500$0▼ $5,500
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,651,715$13,591,640▼ $5,060,075
Deferred Revenue$186,816$775,331▲ $588,515
Accounts Payable and Accrued Expenses$11,592$2,036▼ $9,556
Total Liabilities$18,850,123$14,369,007▼ $4,481,116
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,580,007$2,546,639▲ $4,126,646
Total Net Assets Fund Balance$-1,580,007$2,546,639▲ $4,126,646
Total Liabilities and Net Assets / Fund Balance$17,270,116$16,915,646▼ $354,470

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,380,194$1,883,593$11,263,787
Leasehold Improvements$3,113,818$3,433,607$6,547,425
Land$2,438,407-$2,438,407
Equipment$27,810$18,043$45,853
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleOtherTotal
Cooper JeniDirector of Community Investment$148,880$148,880

Board Members and Trustees

NameTitle
Stephenson Samuel JChairman/director
Smith Donald F JrPresident
Hunt WilliamDirector/vice Chairman
Robinson F Brooks JrDirector
Zinski LauraDirector
Miller KeithDirector of Site Development
Heinricher MichaelDirector, Asset Management
Pinelli ChristopherDirector, Property Mgmt
Buechli JohnConstruction Manager
Hobbes Jason WCorporate Secretary
Joyce Dennis M Ret 62022Former Chief Operating Officer
White Timothy FSenior VP - Development
Goldstrom MichaelSenior VP - Real Estate
Kurta Marian DTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Jones Lang Lasalle Brockerage INCBrokerage Service71700 TREASURY CENTER, Chicago, IL 60694-1700$213,602
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,697,130
Investment Income
$0
Other Revenue
$4,867,284
Change in Net Assets
$4,126,645
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,287,769
Grants and Similar Amounts Paid$150,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,479,526--$1,479,526
Depreciation Depletion$1,079,760--$1,079,760
Fees for Services Other$165,979--$165,979
Grants to Domestic Orgs$150,000--$150,000
Fees for Services Legal$67,452--$67,452
Fees for Services Management$50,933--$50,933
Other Expenses$45,169--$45,169
Insurance$40,883--$40,883
Fees for Services Accounting$4,670--$4,670
Advertising$879--$879
Office Expenses$296--$296
Travel$184--$184
Total Functional Expenses$3,437,769$0$0$3,437,769
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ridc Sw Pa Growth FundPittsburgh, PA501(c)(3)General Operating Use$150,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“No committees act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The annual form 990 is prepared by its outside independent accounting firm. The board of directors reviews the 990.”

Form 990, Part VI, Section B, Line 12C

“Conflict of interest disclosure forms are distributed to the members of the board of directors and all employees each year. The conflict of interest forms are then returned to the secretary of the corporation. All conflict of interest forms are reviewed by the ridc audit committee, as well as the ridc executive committee of the ridc board. The ridc president and ridc board chair are involved in the process, including review of form contents and identifying any individual areas of concern.”

Form 990, Part VI, Section B, Line 15

“The organization has no direct employees and therefore no compensation analysis is applicable.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy and financial statements are available upon request.”

Form 990, Part VIII, Line 11A

“During 2016, the organization entered into a financial arrangement to obtain additional funding for the construction, operation and offsite improvements of a 68,000 square-foot flex office building, tech forge at 47th, located in lawrenceville, through the use of the new markets tax credit ("nmtc") program. Under the terms of the arrangement, the organization issued qualified low-income community investment ("qlici") notes payable to three separate community development entities ("cde") in the amount of $12,660,000. During the year, $4,867,280 of the notes payable were extinguished as part of an exercise of an option agreement between regional industrial development corporation of southwestern pennsylvania and u.s. Bancorp community development corporation, the federal tax credit investor.”

Filing and Contact Details

Filer

Filer Name
Ridc Ltc 48
EIN
81-1907116
Phone
4123156440
Address
267 KAPPA DRIVE, PITTSBURGH, PA 15238

Signing Officer

Name
Marian D Kurta
Title
Treasurer
Phone
4123156440
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marian D Kurta
Formed
2016
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Sisterson & Co Llp
Address
501 GRANT STREET SUITE 450, PITTSBURGH, PA 15219
Preparer
Pugne Melissa
Phone
4122812025
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“As of december 31, 2023 and 2022 the corporation is unaware of any uncertain tax positions. The corporation's tax returns for the tax year 2020 and beyond remain subject to examination by the internal revenue service.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIRMAN/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR/VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5SENIOR VP - DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6CORPORATE SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7SENIOR VP - REAL ESTATE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR, PROPERTY MGMT
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR, ASSET MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11CONSTRUCTION MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR OF SITE DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR OF COMMUNITY INVESTMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14FORMER CHIEF OPERATING OFFICER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02016
IRS990/FormerOfcrEmployeesListedInd01
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GrantAmt0150000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0150000
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0150000
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt07564414
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt040883
IRS990/InsuranceGrp/TotalAmt040883
IRS990/InterestGrp/ProgramServicesAmt01479526
IRS990/InterestGrp/TotalAmt01479526
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt010
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt05335243
IRS990/LandBldgEquipBasisNetGrp/BOYAmt015637453
IRS990/LandBldgEquipBasisNetGrp/EOYAmt014960229
IRS990/LandBldgEquipCostOrOtherBssAmt020295472
IRS990/LegalDomicileStateCd0PA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0RIDC LTC 48 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 THE BURDENS OF GOVERNMENT AND COMBATING COMMUNITY DETERIORATION BY DEVELOPING AN INDUSTRIAL DEVELOPMENT PROJECT AT A LOCATION WITHIN THE CITY OF PITTSBURGH, PENNSYLVANIA.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt018651715
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt013591640
IRS990/NetAssetsOrFundBalancesBOYAmt0-1580007
IRS990/NetAssetsOrFundBalancesEOYAmt02546639
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-1580007
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02546639
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ProgramServicesAmt0296
IRS990/OfficeExpensesGrp/TotalAmt0296
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt05500
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0TAXES
IRS990/OtherExpensesGrp/Desc1MAINTENANCE
IRS990/OtherExpensesGrp/Desc2UTILITIES
IRS990/OtherExpensesGrp/ProgramServicesAmt0231151
IRS990/OtherExpensesGrp/ProgramServicesAmt1120887
IRS990/OtherExpensesGrp/ProgramServicesAmt245169
IRS990/OtherExpensesGrp/TotalAmt0231151
IRS990/OtherExpensesGrp/TotalAmt1120887
IRS990/OtherExpensesGrp/TotalAmt245169
IRS990/OtherRevenueMiscGrp/BusinessCd0531390
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0LOAN FORGIVENESS
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt04867280
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt14
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt04867280
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt14
IRS990/OtherRevenueTotalAmt04867284
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04970
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04218
IRS990/PrincipalOfficerNm0MARIAN D KURTA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1SERVICE & MANAGEMENT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02696580
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1550
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02696580
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1550
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0685000
IRS990/PYInvestmentIncomeAmt0204000
IRS990/PYOtherExpensesAmt02225065
IRS990/PYOtherRevenueAmt0121768
IRS990/PYProgramServiceRevenueAmt02188158
IRS990/PYRevenuesLessExpensesAmt0-396139
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02910065
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02513926
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt04126645
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02697130
IRS990/SavingsAndTempCashInvstGrp/EOYAmt029839
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgQualifiedInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtExclusivelySec170c2BInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0RIDC LTC 48 WAS ABLE TO DETERMINE THAT THE SUPPORTED ORGANIZATION SATISFIED THE PUBLIC SUPPORT TEST UNDER 509(A)(2) BY OBTAINING A COPY OF THE COMPUTATION OF PUBLIC SUPPORT CALCULATION (SCHEDULE A) THAT INDICATED THAT THE TOTAL PUBLIC SUPPORT PERCENTAGE FOR 2023 WAS 39.15% AND INVESTMENT INCOME PERCENTAGE FOR 2023 WAS 13.16%.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1STRATEGIC PLANNING IS REVIEWED BY THE RIDC EXECUTIVE COMMITTEE PRIOR TO SUBMITTING PROPOSED PROJECTS TO THE RIDC BOARD OF DIRECTORS TO ENSURE THAT ALL PROJECTS ARE WITHIN THE SCOPE OF THE ORGANIZATION'S MISSION AND FALL UNDER IRC SECTION 170(C)(2)(B).
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 3B
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION A, LINE 3C
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0251033264
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd010
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt03437769
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0REGIONAL INDUSTRIAL DEVELOPMENT CORPORATION
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt03437769
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt09380194
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01883593
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt011263787
IRS990ScheduleD/EquipmentGrp/BookValueAmt027810
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018043
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt045853
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt02438407
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02438407
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03113818
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03433607
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06547425
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AS OF DECEMBER 31, 2023 AND 2022 THE CORPORATION IS UNAWARE OF ANY UNCERTAIN TAX POSITIONS. THE CORPORATION'S TAX RETURNS FOR THE TAX YEAR 2020 AND BEYOND REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014960229
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt0150000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL OPERATING USE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0RIDC SW PA GROWTH FUND
IRS990ScheduleI/RecipientTable/RecipientEIN0251603768
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0267 KAPPA DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0PITTSBURGH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0PA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd015238
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0ACTUAL COST INCURRED
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE GRANT IS UNRESTRICTED AND NO SPECIAL CONDITIONS APPLY. THIS IS A ONE-TIME NON-RECURRING GRANT. NO FUTURE COMMITMENT IS MADE AND THE GRANT IS FULLY SATISFIED UPON DISBURSEMENT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,915,646
Liabilities
$14,369,007
Net assets
$2,546,639
Revenue
$7,564,414
Expenses
$3,437,769
Net income
$4,126,645
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.3$13.7$2.61$2.60$2.54$0.07
2023Detailed filing. Detailed filing data is available for this year.$16.9$14.4$2.55$7.56$3.44$4.13
2022Detailed filing. Detailed filing data is available for this year.$17.3$18.9$1.58$2.51$2.91$0.40
2021Detailed filing. Detailed filing data is available for this year.$18.3$19.5$1.18$2.30$2.12$0.17
2020Detailed filing. Detailed filing data is available for this year.$17.9$19.2$1.36$2.24$2.54$0.31
2019Detailed filing. Detailed filing data is available for this year.$18.7$19.8$1.05$1.48$2.31$0.83
2018Detailed filing. Detailed filing data is available for this year.$19.3$19.5$0.22$1.75$1.66$0.09
2017Summary only. Only limited summary data is available for this year.$16.6$16.9$0.32$0.01$0.30$0.29
2016Summary only. Only limited summary data is available for this year.$17.6$17.6$0.03$0.00$2.75$2.75