2023-11-08T19:51:39-06:00 2022-12-31 366055558 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2022-01-01 232889102 PIDC-COMMUNITY CAPITAL PIDC 2154968020 1500 MARKET STREET 3500W PHILADELPHIA PA 19102 TIFFANY CANADY SR. VICE PRESIDENT 2154968020 2023-11-08 1 TIFFANY CANADY XXX-XX-XXXX 1 RUSSLEE ARMSTRONG P00288383 2155614200 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANNE NEVINS 1500 MARKET STREET 3500W PHILADELPHIA PA 19102 11497750 0 X WWW.PIDCPHILA.COM X 1957 PA PIDC COMMUNITY CAPITAL IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION CREATED TO ATTRACT RESOURCES FOR COMMUNITY LENDING & TECHNICAL ASSISTANCE IN UNDERSERVED NEIGHBORHOODS. 4 4 0 4 0 0 5927188 6774371 3574636 4538110 4942 185269 0 0 9506766 11497750 1596600 52108 0 0 0 0 0 0 0 2945392 1684195 4541992 1736303 4964774 9761447 51592924 73782065 27983931 40411625 23608993 33370440 X PIDC COMMUNITY CAPITAL'S (PIDC CC) MISSION IS TO BUILD SUSTAINABLE NEIGHBORHOODS BY MAKING INVESTMENTS THAT CREATE JOBS, GROW SMALL BUSINESSES, LEVERAGE OUTSIDE CAPITAL, ELIMINATE BLIGHT, AND PROVIDE GOODS AND SERVICES TO LOW INCOME COMMUNITIES THROUGHOUT PHILADELPHIA. PIDC CC ACHIEVES ITS MISSION BY DEPLOYING CAPITAL AND BUSINESS SUPPORT SERVICES TO UNDERSERVED AREAS. 0 0 1456476 0 3012798 SEE SCHEDULE ONEW MARKETS TAX CREDIT (NMTC) PROGRAM: PIDC CC SUPPORTS HIGH IMPACT, TRANSFORMATIONAL PROJECTS THROUGH THE NMTC PROGRAM. THE NMTC PROGRAM IS A FEDERAL TAX CREDIT PROGRAM DESIGNED TO GENERATE PRIVATE-SECTOR CAPITAL INVESTMENT IN LOW-INCOME AREAS. THE PROGRAM PERMITS INDIVIDUAL AND CORPORATE TAXPAYERS TO RECEIVE CREDIT AGAINST THEIR FEDERAL INCOME TAXES FOR MAKING QUALIFIED EQUITY INVESTMENTS IN PROJECTS THAT FINANCE COMMUNITY DEVELOPMENT, STIMULATE GROWTH, AND CREATE JOBS. PIDC ALLOCATED $35.6M OF NEW MARKET TAX CREDITS TO SIX HIGH-IMPACT PROJECTS IN PHILADELPHIA. THE NMTC PROGRAM IS A US TREASURY PROGRAM WHICH UTILIZES FEDERAL TAX CREDITS TO ATTRACT PRIVATE INVESTMENT IN LOW-INCOME COMMUNITIES. THESE PROJECTS CREATE QUALITY JOBS, PROVIDE ESSENTIAL GOODS AND SERVICES, AND STIMULATE ADDITIONAL INVESTMENT IN OUR NEIGHBORHOODS. PIDC HAS WON OVER $418 MILLION IN NMTC ALLOCATION BETWEEN 2007 AND 2022.H&MCARE, A BLACK- AND IMMIGRANT-OWNED HOME CARE SUPPORT SERVICES BUSINESS, ACQUIRED A VACANT FORMER FUNERAL HOME AND AN ADJACENT VACANT LOT ON WOODLAND AVENUE IN SOUTHWEST PHILADELPHIA, WITH THE GOAL OF RENOVATING AND EXPANDING INTO A TWO-BUILDING 37,805 SQUARE FOOT MIXED-USE HEALTHCARE FACILITY WITH AFFORDABLE SENIOR HOUSING. THE PROJECT WILL BRING AN URGENT CARE FACILITY AND PHARMACY TO A MEDICALLY UNDERSERVED AREA, ALONG WITH HOUSING TO MORE THAN 22 SENIORS, WHILE CREATING NEARLY 20 FULL-TIME JOBS. THE PROJECT WAS ONE OF TWO NMTC INVESTMENTS MADE IN 2022 THROUGH OUR IMPACT DEVELOPMENT FUND, AN INNOVATIVE LOAN PRODUCT. THE PIDC LOAN FILLED A CRITICAL GAP IN THE PROJECT. IT WAS CAPITALIZED BY NEW MARKETS TAX CREDIT AND A LOAN FROM PIDC COMMUNITY CAPITAL TO FILL A CRITICAL GAP IN THE PROJECT. 46681 52108 1525312 SEE SCHEDULE OSUPPORTING GROWING BUSINESSES: PIDC CC INVESTS FLEXIBLE, AFFORDABLE CAPITAL IN GROWING LOCAL BUSINESSES BECAUSE THEY CREATE JOBS, BUILD WEALTH FOR ENTREPRENEURS, AND STABILIZE NEIGHBORHOODS. WE RECOGNIZE THAT LOCAL SMALL BUSINESSES ARE THE BACKBONE OF PHILADELPHIA'S ECONOMY AND THAT MANY OF THEM WERE MOST AFFECTED BY THE PANDEMIC. PIDC CC FILLS CRITICAL FUNDING GAPS FOR BUSINESS OWNERS WHO MIGHT LACK ACCESS TO TRADITIONAL CAPITAL. PIDC CC'S LOAN PORTFOLIO COMPRISES THE FOLLOWING LOAN PRODUCTS: (1) WORKING CAPITAL AND EQUIPMENT LOANS: DESIGNED TO SUPPORT SMALL AND MIDSIZE BUSINESSES AND NONPROFITS THAT NEED TERM FINANCING FOR WORKING CAPITAL, EQUIPMENT, OR LEASEHOLD IMPROVEMENTS. (2) CAPITAL PROJECT LOANS: SUPPORT BUSINESSES AND NONPROFITS UNDERTAKING CAPITAL PROJECTS SUCH AS BUILDING ACQUISITION, RENOVATION, LEASEHOLD IMPROVEMENTS, OR EQUIPMENT THAT NEED ADDITIONAL FINANCING TO COMPLETE THE PROJECT. (3) CONTRACT LINES OF CREDIT: SUPPORT SMALL, MINORITY, WOMEN AND DISABLED OWNED BUSINESSES THAT NEED LINES OF CREDIT TO FUND CONTRACT RELATED WORKING CAPITAL. (4) NEIGHBORHOOD DEVELOPMENT LOANS: PROVIDE AFFORDABLE FINANCING TO FILL FUNDING GAPS FOR DEVELOPERS OF MIXED-USE, COMMERCIAL, AND INDUSTRIAL PROJECTS LOCATED THROUGHOUT PHILADELPHIA'S NEIGHBORHOODS. THIS PRODUCT TARGETS SMALL-SCALE DEVELOPERS THAT ARE COMPLETING DEVELOPMENT PROJECTS, WHICH GENERALLY HAVE PROJECT COSTS UNDER $5 MILLION. (5) COMMERCIAL MORTGAGE LOANS: PROVIDES SUPPORT TO SMALL BUSINESSES AND NONPROFITS THAT NEED FINANCING TO PURCHASE BUILDINGS THAT THEY EITHER CURRENTLY OCCUPY OR INTEND TO RELOCATE. THE COMMERCIAL MORTGAGE LOAN PRODUCT IS TARGETED TO SMALL BUSINESSES OWNED BY MINORITIES, WOMEN, IMMIGRANTS, VETERANS, OR OTHER DISADVANTAGED POPULATIONS, AS WELL AS NONPROFITS AND BUSINESSES LOCATED IN LOW-INCOME COMMUNITIES.IN 2022, PIDC ORIGINATED $35.3 MILLION IN NEW LOANS TO 76 SMALL AND MID-SIZED BUSINESSES, NONPROFITS, AND DEVELOPERS THROUGH CATALYTIC PROJECTS IN NEIGHBORHOODS IN PHILADELPHIA. $20.1 MILLION WAS INVESTED IN MINORITY BUSINESSES. $7.9 MILLION WAS INVESTED IN WOMEN-OWNED BUSINESSES. 62% OF ALL PIDC CORE LENDING WENT TO DIVERSE/MINORITY BUSINESS ENTERPRISES. PIDC CC PROVIDES FINANCING SOLUTION FOR SMALL BUSINESSES AND NONPROFITS SEEKING TO PURCHASE NEW OR REAL ESTATE TO BUILD WEALTH, LIMIT DISPLACEMENT, AND SUPPORT LONG-TERM GROWTH IN PHILADELPHIA. MICKIE DAVIS HAIR STUDIO A FULL SERVICE, BLACK-, WOMAN-OWNED SALON IN THE GROWING POINT BREEZE AVENUE COMMERCIAL CORRIDOR PURCHASED AN EXISTING LOCATION USING A COMMERCIAL MORTGAGE LOAN AT THE AMOUNT OF $465,000. GIVEN THE OPTION TO PURCHASE, THE OWNER OF MICKIE DAVIS HAIR STUDIO WAS ABLE TO GAIN PROPERTY OWNERSHIP, ENSURE PERMANENCE IN THE NEIGHBORHOOD, AND BUILD WEALTH. CC ALSO PROVIDES AFFORDABLE WORKING CAPITAL FOR SMALL-, MINORITY-, WOMEN-, AND DISABLED-OWNED BUSINESSES SEEKING A LINE OF CREDIT TO FUND CONTRACT-RELATED WORKING CAPITAL, INCLUDING LABOR, MATERIALS, AND EQUIPMENT COSTS. CICADA, A WOMAN-OWNED ARCHITECTURE FIRM OPERATING IN PHILADELPHIA FOR THREE DECADES, IS PROVIDING THE ARCHITECTURAL AND PLANNING SERVICES FOR A NEW PROJECT IN GRAYS FERRY THAT WILL HOUSE TOWNHOMES, A MIXED-USE PROPERTY, AND A COMMUNITY CENTER FOR THE WOMEN'S COMMUNITY REVITALIZATION PROJECT (WCRP). CICADA USED PIDC'S CONTRACT LINE OF CREDIT (CLOC) AT THE AMOUNT OF $125,000. AS A MULTICULTURAL, DIVERSE, COLLABORATIVE FIRM OF LIKE-MINDED PEOPLE WHO LOVE URBANISM, CICADA IS COMMITTED TO REDUCING WASTE AND ITS CARBON FOOTPRINT THROUGH ITS SERVICES. THE RESTART PHL LOAN, A SPECIALTY VERSION OF PIDC CC'S WORKING CAPITAL AND EQUIPMENT LOAN, PROVIDED FLEXIBLE CAPITAL AT 0% INTEREST TO SMALL BUSINESSES WITH LESS THAN $5 MILLION IN REVENUE AS THEY RE-IMAGINED OR PIVOTED THEIR BUSINESS OPERATIONS DURING THE PANDEMIC. IN 2022, PIDC PROVIDED A TOTAL OF $3.3 MILLION IN FINANCING FOR 33 SMALL BUSINESSES THROUGH THE RESTART PHL LOAN, WHICH RANGED FROM $25,000 TO $500,000. OVERALL, 75% OF OUR WORKING CAPITAL AND EQUIPMENT LOANS WERE CLOSED TO BUSINESSES AT 0% INTEREST USING THIS PROGRAM. SINCE 2020, PIDC CLOSED A TOTAL OF $8.1 MILLION IN RESTART PHL LOANS TO SUPPORT LOCAL BUSINESSES.IN 2022, PIDC CC'S RESTART PHL LOAN PROVIDED PANDEMIC RELIEF TO DIVERSIFIED HUMAN SOLUTIONS INC, AN ASIAN-OWNED EMPLOYEE BENEFITS AND HUMAN RESOURCES CONSULTING BUSINESS IN SOUTH/OLDE KENSINGTON; BORICUA RESTAURANT A FAMILY-OWNED PUERTO RICAN FOOD RESTAURANT WITH LOCATIONS IN NORTHERN LIBERTIES AND PORT RICHMOND; GRANT BLVD, A BLACK-, WOMAN-OWNED SUSTAINABLE FASHION RETAILER AND WHOLESALE DESIGNER IN WEST PHILADELPHIA; AND CHU SHANG SPICY, AN ASIAN-OWNED CHINESE FOOD RESTAURANT IN CHINATOWN. IN 2022, WE FURTHER EXPANDED OUR BUSINESS SUPPORT SERVICESEDUCATIONAL WORKSHOPS, ONE-ON-ONE COUNSELING, CREDIT REPAIR, AND NETWORKING EVENTSDESIGNED TO SUPPORT BUSINESS GROWTH. WHILE ALL IN-PERSON PROGRAMMING TRANSITIONED TO A VIRTUAL ENVIRONMENT BEGINNING IN MARCH 2020 DUE TO THE PANDEMIC, WE CONTINUED TO CONNECT PHILADELPHIA'S SMALL BUSINESS COMMUNITY TO TRUSTED KNOWLEDGE AND RESOURCES VIA VIRTUAL WORKSHOPS. PIDC BUSINESS BUILDER WORKSHOPS ARE YEAR-ROUND WORKSHOPS WHICH PROVIDE CRITICAL BUSINESS EDUCATION TO ENTREPRENEURS AND ORGANIZATIONS FROM EVERY INDUSTRY. PIDC HOSTED 27 WORKSHOPS WITH MORE THAN 781 ATTENDEES. TOPICS INCLUDED BUYING AND FINANCING COMMERCIAL REAL ESTATE, FEDERAL GOVERNMENT CONTRACTING, TAX SEASON PREPARATION, THE HIDDEN ISSUES OF USING REAL ESTATE AS BUSINESS LOAN COLLATERAL, AND BUSINESS EDUCATION AND MENTORING PROGRAMS.IN 2022, PIDC CONTINUED A SERIES OF SPANISH-LANGUAGE WORKSHOPS AS A PART OF OUR STRATEGY TO BETTER SERVE SPANISH-SPEAKING ENTREPRENEURS, ONE OF THE FASTEST GROWING BUSINESS GROUPS IN PHILADELPHIA. PIDC PARTNERED WITH BALANCE CONSULTING GROUP LLC, A HISPANIC WOMAN-OWNED COMPANY, TO PRODUCE BUSINESS BUILDER WORKSHOPS EN ESPAOL TO ADDRESS A VARIETY OF KEY BUSINESS TOPICS. ALL WORKSHOPS ARE LED BY HISPANIC AND LATINO(A) SUBJECT MATTER EXPERTS. THE SERIES IS PART OF PIDC'S BUSINESS BUILDER WORKSHOPS. TOPICS IN THE SERIES INCLUDE BUDGETING, BUILDING CREDIT, CITY RESOURCES, BUYING AND FINANCING COMMERCIAL REAL ESTATE, LEADERSHIP, AND MORE. PLUS, WE PARTICIPATED IN GLOBAL ENTREPRENEURSHIP WEEK WITH A FULLY SPANISH LANGUAGE WORKSHOP DISCUSSING PREPARATION FOR TAX SEASON. 1503157 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 8 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 1 1 0 1 1 0 0 0 1 0 1 1 1 0 0 0 PA X TIFFANY CANADY 2154968136 1500 MARKET STREET SUITE 3500 WEST PHILADELPHIA PA 19102 SALVATORE J PATTI CHAIR 0.75 0.56 X X 0 0 0 ANDREA R ALLON VICE CHAIR 0.75 0.56 X X 0 0 0 JAY GOLDSTEIN DIRECTOR 0.75 0.56 X 0 0 0 JUAN LOPEZ DIRECTOR (AS OF 02/2022) 0.15 0.56 X 0 0 0 ANNE NEVINS PRESIDENT 7.50 30.00 X 0 385608 19111 SAM RHOADS SVP- EXECUTIVE VICE PRESIDENT 7.50 30.00 X 0 276695 59120 THOMAS QUEENAN THRU 062022 TREASURER/SVP-COO 7.50 30.00 X 0 272185 57562 TIFFANY CANADY ASST SECRETARY, SVP-CFO 8.50 29.00 X 0 220660 57507 CASSIE GARDNER ASSISTANT SECRETARY 3.00 34.50 X 0 95416 42380 0 1250564 235680 0 0 1 0 0 5834371 940000 6774371 NW MKT TAX CR PRG FEES 900099 3012798 3012798 ECONOMIC DEVELOPMENT 900099 1525312 1525312 4538110 185269 185269 11497750 4538110 0 185269 52108 52108 2100000 2100000 94354 94354 134737 134737 465501 465501 19305 15250 4055 DIR. CONTRACT EXPENSES 359728 359728 BANK FEES & DUES 979 979 RECOVERY ON LOAN LOSS -1490409 -1490409 1736303 1503157 233146 0 26731031 46265525 419344 1417272 3554249 527945 18435169 23294781 225000 225000 2228131 2051542 51592924 73782065 56075 194957 5395248 17041515 18476010 19427407 4056598 3747746 27983931 40411625 X 23608993 33370440 23608993 33370440 51592924 73782065 9761447 0 X X 0 1 X 1 1 1 X X 1 PHILA INDUSTR'L DEVLP CORP 236050858 10 1 2100000 0 1 2100000 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART IV SECTION A LINE 2-3 PIDC CC IS A SUPPORTING ORGANIZATION UNDER THE INTERNAL REVENUE CODE (IRC) SECTION 509(A)(3) TO PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION (EIN 23-6050858), A 501(C)(4) ORGANIZATION. PIDC'S MISSION IS TO DEVELOP AND SUPPORT THE ECONOMIC GROWTH OF THE CITY OF PHILADELPHIA, AND PROVIDES SERVICES THAT THE CITY, ITSELF, CANNOT PERFORM. PIDC MEETS THE PUBLIC SUPPORT TEST PURSUANT TO IRC 509(A)(2) AS MORE THAN 33 1/3% OF ITS INCOME IS DERIVED FROM PROGRAM SERVICES REVENUE. FURTHERMORE, PIDC MEETS THE ORGANIZATIONAL, OPERATIONAL, RELATIONSHIP, AND CONTRACT TEST REQUIREMENTS OF IRC SECTION 509(A)(3). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 LOANS PAYABLE TO AFFILIATE ENTITIES 2526237 DUE TO AFFILIATE ENTITIES 1055383 DUE TO RELATED PARTIES 127717 OTHER LIABILITIES 38409 3747746 X 11497750 0 11497750 0 11497750 1736303 0 1736303 0 1736303 PART X, LINE 2: PIDC CC FOLLOWS THE GUIDANCE FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. FOR TAX POSITIONS MEETING THE MORE LIKELY THAN NOT THRESHOLD, THE AMOUNT RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% CHANCE OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAXING AUTHORITY. PIDC CC DOES NOT BELIEVE ITS CONSOLIDATED FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS; AS SUCH, NO PROVISION IS RECORDED IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES. PIDC COMMUNITY CAPITAL AND ITS SUBSIDIARIES ARE REQUIRED TO FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE (IRS). INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2019 REMAIN OPEN. 1 JADE APPAREL CORPORATION 1017 RACE STREET 4TH FLOOR PHILADELPHIA PA 19107 274816786 37108 0 LOAN FORGIVENESS 0 1 PART I, LINE 2: PROCEDURES TO MONITOR USE OF GRANT FUNDS PIDC CC HAS CONTROLS IN PLACE TO ENSURE GRANT PROCEEDS WILL BE DISTRIBUTED AND USED IN ACCORDANCE WITH THE TERMS OF THE GRANT AGREEMENT. A REVIEW OF GRANT PROCEEDS IS DONE DURING THE APPLICATION PROCESS, THROUGH WHICH, GRANTEES REQUEST FUNDS. MANAGEMENT REVIEWS THE DOCUMENTATION PROVIDED BY GRANTEES TO ENSURE THE REQUEST MEETS THE CRITERIA OF THE GRANT AGREEMENT. 0 0 0 0 0 0 0 0 0 ANNE NEVINS PRESIDENT 0 322250 0 50000 0 13358 0 10648 0 8463 0 404719 0 0 SAM RHOADS SVP- EXECUTIVE VICE PRESIDENT 0 251695 0 25000 0 0 0 7782 0 51338 0 335815 0 0 THOMAS QUEENAN THRU 062022 TREASURER/SVP-COO 0 247185 0 25000 0 0 0 5682 0 51880 0 329747 0 0 TIFFANY CANADY ASST SECRETARY, SVP-CFO 0 204460 0 16200 0 0 0 6205 0 51302 0 278167 0 0 PART I, LINE 3: PIDC CC DOES NOT HAVE ANY PAID EMPLOYEES; ALL COMPENSATION TO OFFICERS REPORTED ON PART VII OF THE FORM 990 WAS PAID BY A RELATED ORGANIZATION, PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION (PIDC). THE RELATED ORGANIZATION UNDERTAKES A THOROUGH PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION THAT IT PAYS TO ITS TOP MANAGEMENT OFFICIALS IS REASONABLE GIVEN THE MARKET IN WHICH IT OPERATES. THE RELATED ORGANIZATION CHECKS THE FOLLOWING BOXES ON ITS FORM 990: QUESTION 3- COMPENSATION COMMITTEE AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. PART II, COLUMN C: DEFINED BENEFIT PLAN PIDC OFFERS A DEFINED BENEFIT PLAN (THE "PLAN") TO ITS EMPLOYEES. PARTICIPANTS BECOME ELIGIBLE TO RECEIVE RETIREMENT BENEFITS THE FIRST MONTH ON OR THE NEXT FOLLOWING ATTAINMENT OF AGE 60 AND COMPLETION OF 5 YEARS OF VESTING SERVICE FROM THE DATE THEY BECOME ELIGIBLE PARTICIPANTS OF THE PLAN. EFFECTIVE DECEMBER 31, 2014, THE PLAN'S EXISTING PARTICIPANTS' ACCRUED BENEFITS WERE FROZEN, AND NO NEW PARTICIPANTS WERE ALLOWED INTO THE PLAN. AS A RESULT OF THE PLAN'S FREEZE, THE BENEFIT IS BASED UPON A PARTICIPANT'S SERVICE AND COMPENSATION AS OF DECEMBER 31, 2014, AND EXPRESSED IN THE FORM OF A FIXED MONTHLY BENEFIT FOR HIS/HER LIFE COMMENCING AT NORMAL RETIREMENT. THE FORM 990 REQUIRES MANAGEMENT TO REPORT AS DEFERRED COMPENSATION THE ANNUAL INCREASE OR DECREASE IN ACTUARIAL VALUE, IF ANY, OF A DEFINED BENEFIT PLAN. AS THE CHANGE IN THE PRESENT VALUE OF THE DEFINED BENEFIT PLAN'S LIABILITY DOES NOT CORRESPOND TO THE ACTUAL BENEFIT DUE TO THE PLAN PARTICIPANTS AND THE PLAN WAS FROZEN EFFECTIVE DECEMBER 31, 2014, MANAGEMENT DID NOT REPORT A VALUE WITHIN PART II, COLUMN (C). THE VALUES THAT ARE DISCLOSED IN PART II, COLUMN (C) INCLUDE EMPLOYER 401K CONTRIBUTIONS. PART VI, SECTION A, LINE 3: MANAGEMENT DUTIES PIDC PROVIDES THE STAFF AND FACILITIES FOR PIDC CC TO PERFORM ITS WORK. PIDC CC ITSELF HAS NO EMPLOYEES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OR STOCKHOLDERS PIDC IS THE SOLE MEMBER OF PIDC CC. FORM 990, PART VI, SECTION A, LINE 7A PIDC CC'S BOARD OF DIRECTORS IS COMPRISED OF AT LEAST THREE DIRECTORS THAT ARE APPOINTED ANNUALLY BY THE CHAIRMAN OF THE PIDC BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS PIDC'S ACCOUNTING & FINANCE TEAM ASSEMBLES THE INFORMATION FOR THE FORM 990. IT IS REVIEWED INTERNALLY AND IS PREPARED BY PIDC'S OUTSIDE TAX ADVISORS. THE FORM 990 IS REQUIRED TO BE REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS MADE AVAILABLE TO ALL BOARD MEMBERS UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT ALL DIRECTORS OF THE ORGANIZATION MUST DISCLOSE THE NATURE AND EXTENT OF ANY INTERESTS, DIRECT OR INDIRECT, CONTACT, AND/OR ACTIVITY RELATED TO SUCH PROJECTS PROMOTED BY THE ORGANIZATION. NO DIRECTOR WHO HAS SUCH AN INTEREST CAN VOTE ON ANY MATTER RELATING TO IT. THE DISCLOSURE IS RETAINED IN THE MINUTE BOOK OF THE ORGANIZATION. IN ADDITION, PIDC HAS INCLUDED A CONFLICT OF INTEREST POLICY WITHIN THE PERSONNEL POLICY MANUAL, AND IS APPLICABLE TO ALL EMPLOYEES OF PIDC (AND ITS COMBINED ENTITIES, TOGETHER THE CORPORATION). FURTHER, ON A PERIODIC BASIS, THE CORPORATION REQUIRES THE OFFICERS OF THE CORPORATION TO DISCLOSE ANY CONFLICTED INTERESTS. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION PIDC COMMUNITY CAPITAL DOES NOT HAVE EMPLOYEES. IT'S RELATED ORGANIZATION, PIDC, HAS ESTABLISHED A COMPENSATION PROGRAM TO ENSURE THE COMPENSATION, INCLUDING BONUSES PAID TO OFFICERS AND EMPLOYEES, IS FAIR, COMPETITIVE, AND REFLECTIVE OF EMPLOYEE'S ACTUAL PERFORMANCE. FOR PIDC'S SENIOR EXECUTIVES, THIS INCLUDES ESTABLISHING PERFORMANCE STANDARDS AT THE BEGINNING OF THE YEAR, WHICH ARE USED BY THE CEO TO MEASURE EACH EXECUTIVE'S PERFORMANCE AT YEAR END. PIDC PERIODICALLY PERFORMS PAY-RANGE SURVEYS OF OTHER COMPARABLE EMPLOYERS AND MONITORS TRENDS IN COMPENSATION. IN ADDITION, THE COMPENSATION STRUCTURE EMBEDS A RISK BASED COMPONENT THAT CONSIDERS ACHIEVEMENT OF PERFORMANCE GOALS. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC PIDC-COMMUNITY CAPITAL FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC. PART XII, LINE 3B: SINGLE AUDIT ACT AND OMB CIRCULAR FEDERAL AWARDS SUBJECT TO THE SINGLE AUDIT ACT AND OMB CIRCULAR ARE INCLUDED WITHIN THE COMBINED STATEMENTS OF PIDC. PIDC RDC NEW MARKETS GP II LLC 1500 MARKET STREET PHILADELPHIA PA 19102 261489613 ECONOMIC DEVELOPMENT DE 0 0 PIDC CC PHILADELPHIA INDUSTRIAL DEVELOPMENT CORP 1500 MARKET STREET PHILADELPHIA PA 19102 236050858 ECONOMIC DEVELOPMENT PA 501(C)(4) N/A 0 PIDC RDC NEW MARKETS LLC 1500 MARKET STREET PHILADELPHIA PA 19102 261488016 ECONOMIC DEVELOPMENT DE PIDC CC RELATED 304 15812 0 0 1.00000 PIDC REGIONAL CAPITAL CORP 1500 MARKET STREET PHILADELPHIA PA 19102 231334179 ECONOMIC DEVELOPMENT PA PIDC CC C 1.00000 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0