2025-11-17T12:02:20-06:00 2024-12-31 991856619 GRANT THORNTON ADVISORS LLC 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2024-01-01 232889102 PIDC COMMUNITY CAPITAL PIDC 2154968020 1500 MARKET STREET 3500W PHILADELPHIA PA 19102 AMY C LEICHNER EVP AND CFO 2154968020 2025-11-17 1 0 RUSSLEE ARMSTRONG P00288383 2155614200 2024 2025-03-06 01:10:19Z JODIE HARRIS 1500 MARKET STREET 3500W PHILADELPHIA PA 19102 25966988 0 X WWW.PIDCPHILA.COM X 1957 PA PIDC-COMMUNITY CAPITAL IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION. 4 4 0 4 0 0 3207304 20494813 2640560 3115603 1825085 2356572 0 0 7672949 25966988 267544 17957757 0 0 0 0 0 0 0 1512313 4135518 1779857 22093275 5893092 3873713 70260615 72964883 30997083 29827638 39263532 43137245 X SEE SCHEDULE O. 0 0 7920970 95846 SEE SCHEDULE ONEW MARKETS TAX CREDIT (NMTC) PROGRAM:PIDC CC SUPPORTS HIGH IMPACT, TRANSFORMATIONAL PROJECTS THROUGH THENMTC PROGRAM. THE NMTC PROGRAM IS A FEDERAL TAX CREDIT PROGRAMDESIGNED TO GENERATE PRIVATE-SECTOR CAPITAL INVESTMENT IN LOW-INCOMEAREAS. THE PROGRAM PERMITS INDIVIDUAL AND CORPORATE TAXPAYERS TORECEIVE CREDIT AGAINST THEIR FEDERAL INCOME TAXES FOR MAKING QUALIFIEDEQUITY INVESTMENTS IN PROJECTS THAT FINANCE COMMUNITY DEVELOPMENT,STIMULATE GROWTH AND CREATE JOBS.PIDC ALLOCATED $32.5M OF NEW MARKET TAX CREDITS TO FOUR HIGH-IMPACTPROJECTS IN PHILADELPHIA. THE NMTC PROGRAM IS A US TREASURY PROGRAMWHICH UTILIZES FEDERAL TAX CREDITS TO ATTRACT PRIVATE INVESTMENT INLOW-INCOME COMMUNITIES. THESE PROJECTS CREATE QUALITY JOBS, PROVIDEESSENTIAL GOODS AND SERVICES, AND STIMULATE ADDITIONAL INVESTMENT INOUR NEIGHBORHOODS. PIDC HAS WON OVER $473 MILLION IN NMTC ALLOCATIONBETWEEN 2007 AND 2024 AND DEPLOYED $412.5 MILLION IN TAX CREDITALLOCATION SINCE 2007.DELAWARE VALLEY COMMUNITY HEALTH (DVCH), A COMMUNITY HEALTH CENTER THAT'S BEEN PROVIDING AFFORDABLE, ACCESSIBLE, AND CULTURALLY COMPETENT HEALTHCARE SERVICES THROUGHOUT THE DELAWARE VALLEY FOR OVER 50 YEARS, WITH THE GOAL OF EXPANDING TO ADD ITS FACILITIES TO IMPLEMENT A FAMILY MEDICINE RESIDENCY PROGRAM, MAKING THEM THE FIRST TEACHING HEALTH CARE CENTER IN PHILADELPHIA. THIS EXPANSION WILL ENHANCE ACCESS TO PRIMARY CARE, DENTAL AND BEHAVIORAL HEALTH SERVICES, ALLOWING THE CENTER TO INCREASE THE NUMBER OF PATIENTS SERVED ANNUALLY BY 30 PERCENT, FOR A TOTAL OF APPROXIMATELY 208,000 INDIVIDUALS. IT WILL ALSO RETAIN 133 FULL-TIME JOBS, CREATE ADDITIONAL 29 FULL-TIME JOBS, PLUS 37 CONSTRUCTION JOBS, MANY OF WHICH ARE ACCESSIBLE TO INDIVIDUALS WITHOUT A COLLEGE DEGREE. THESE ROLES PROVIDE LIVING WAGES, BENEFITS, AND STIMULATE ECONOMIC GROWTH WITHIN THE COMMUNITY, FURTHER SOLIDIFYING DVCH'S ESSENTIAL ROLE IN IMPROVING PUBLIC HEALTH AND ECONOMIC OPPORTUNITY. THE PROJECT RECEIVED $5 MILLION IN NMTC ALLOCATION FROM PIDC CC TO SUPPORT THE PROJECT. 13674288 17957757 3019757 SEE SCHEDULE OSUPPORTING GROWING BUSINESSES:PIDC CC INVESTS FLEXIBLE, AFFORDABLE CAPITAL IN GROWING LOCALBUSINESSES THE BACKBONE OF OUR ECONOMY BECAUSE THEY CREATE JOBS,BUILD WEALTH FOR ENTREPRENEURS AND STABILIZE NEIGHBORHOODS. THROUGH AVARIETY OF FUNDING RESOURCES, EDUCATIONAL PROGRAMS, AND ONE-ON-ONETECHNICAL SUPPORT, PIDC FILLS CRITICAL GAPS FOR BUSINESS OWNERS ANDNONPROFIT LEADERS WHO LACK ACCESS TO TRADITIONAL CAPITAL. IN ADDITION,PIDC CC SUPPORTS DEVELOPERS PRODUCING TRANSFORMATIVE PROJECTS THAT HAVEA POSITIVE, LASTING IMPACT ACROSS THE CITY PROVIDING JOBS, SERVICES,AND AMENITIES. PIDC CC'S LOAN PORTFOLIO COMPRISES THE FOLLOWING LOANPRODUCTS: (1) WORKING CAPITAL AND EQUIPMENT LOANS: DESIGNED TO SUPPORTSMALL AND MIDSIZE BUSINESSES AND NONPROFITS THAT NEED TERM FINANCINGFOR WORKING CAPITAL, EQUIPMENT, OR LEASEHOLD IMPROVEMENTS. (2) CAPITALPROJECT LOANS: SUPPORT BUSINESSES AND NONPROFITS UNDERTAKING CAPITALPROJECTS SUCH AS BUILDING ACQUISITION, RENOVATION, LEASEHOLDIMPROVEMENTS, OR EQUIPMENT THAT NEED ADDITIONAL FINANCING TO COMPLETETHE PROJECT. (3) CONTRACT LINES OF CREDIT: SUPPORT SMALL, MINORITY,WOMEN AND DISABLED OWNED BUSINESSES THAT NEED LINES OF CREDIT TO FUNDCONTRACT RELATED WORKING CAPITAL. (4) NEIGHBORHOOD DEVELOPMENT LOANS:PROVIDE AFFORDABLE FINANCING TO FILL FUNDING GAPS FOR DEVELOPERS OFMIXED-USE, COMMERCIAL, AND INDUSTRIAL PROJECTS LOCATED THROUGHOUTPHILADELPHIA'S NEIGHBORHOODS. THIS PRODUCT TARGETS SMALL-SCALEDEVELOPERS 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 FINANCINGTO PURCHASE BUILDINGS THAT THEY EITHER CURRENTLY OCCUPY OR INTEND TORELOCATE. THE COMMERCIAL MORTGAGE LOAN PRODUCT IS TARGETED TO SMALLBUSINESSES OWNED BY MINORITIES, WOMEN, IMMIGRANTS, VETERANS, OR OTHERDISADVANTAGED POPULATIONS, AS WELL AS NONPROFITS AND BUSINESSES LOCATEDIN LOW-INCOME COMMUNITIES.IN 2024, PIDC ORIGINATED $72.4 MILLION IN NEW LOANS TO 69 SMALL ANDMID-SIZED BUSINESSES, NONPROFITS, AND DEVELOPERS OF ALL SIZES THROUGH PROJECTS IN NEIGHBORHOODS IN PHILADELPHIA. OF THE NEW LOANS, $56.6 MILLION WAS INVESTED AS LEVERAGE TOWARDS TOTAL PROJECT COSTS AND $17.6 MILLION WAS INVESTED IN WOMEN-OWNED BUSINESSES. 85% OF ALL PIDC CORE LENDING WENT TO DIVERSE/MINORITYBUSINESS ENTERPRISES.PIDC CC PROVIDES FINANCING SOLUTION FOR SMALL BUSINESSES AND NONPROFITSSEEKING TO PURCHASE NEW OR EXISTING REAL ESTATE TO BUILD WEALTH, LIMITDISPLACEMENT, AND SUPPORT LONG-TERM GROWTH IN PHILADELPHIA. PAST YOUR BEDTIME CHILDCARE CENTER IS A KEYSTONE STARS LEVEL 4 CHILDCARE PROVIDER SERVING THE FAMILIES OF OVERBROOK FARMS WITH RELIABLE, SAFE, AND NUTURING CARE FOR VULNERABLE CHILDREN. PIDC SUPPORTED THE BUSINESS WITH A COMMERCIAL MORTGAGE LOAN TO HELP THEM ACQUIRE THE BUILDING THE DAYCARE IS LOCATED IN, ENSURING THAT THIS LONG STANDING BUSINESS PROVIDING VALUABLE SERVICES TO THE COMMUNITY AVOIDS DISPLACEMENT. PIDC CC ALSO PROVIDES AFFORDABLE WORKING CAPITAL FOR SMALL-, MINORITY-,WOMEN-, AND DISABLED-OWNED BUSINESSES SEEKING A LINE OF CREDIT TO FUNDCONTRACT-RELATED WORKING CAPITAL, INCLUDING LABOR, MATERIALS, ANDEQUIPMENT COSTS.IN 2024, WE CONTINUED OUR BUSINESS SUPPORT SERVICES EDUCATIONALWORKSHOPS, ONE-ON-ONE COUNSELING, CREDIT REPAIR, AND NETWORKING EVENTSDESIGNED TO SUPPORT BUSINESS GROWTH AND CONNECT PHILADELPHIA'S SMALLBUSINESS COMMUNITY TO TRUSTED KNOWLEDGE AND RESOURCES VIA WORKSHOPS.PIDC BUSINESS BUILDER WORKSHOPS ARE YEAR-ROUND WORKSHOPS WHICH PROVIDECRITICAL BUSINESS EDUCATION TO ENTREPRENEURS AND ORGANIZATIONS FROMEVERY INDUSTRY. PIDC HOSTED 29 WORKSHOPS WITH MORE THAN 700 HOURSDEDICATED TO COACHING AND CONSULTING SUPPORT FOR PIDC CLIENTS. TOPICS INCLUDED DEBT MANAGEMENT, PROJECT OVERSIGHT, BUYING AND FINANCING COMMERCIAL REAL ESTATE, FEDERAL GOVERNMENT CONTRACTING, AND BUSINESS EDUCATION AND MENTORING PROGRAMS.OF THE HOSTED WORKSHOPS, ELEVEN (11) WERE HELD IN SPANISH WHEREBY PIDCCONTINUED A SERIES OF SPANISH-LANGUAGE WORKSHOPS, AS STARTED IN 2022,AS A PART OF PIDC'S STRATEGY TO BETTER SERVE SPANISH-SPEAKINGENTREPRENEURS, ONE OF THE FASTEST GROWING BUSINESS GROUPS INPHILADELPHIA. THE SERIES IS PART OF PIDC'S BUSINESS BUILDER WORKSHOPS.TOPICS IN THE SERIES INCLUDED MENTAL HEALTH, BUILDING CREDIT, CITYRESOURCES, BUYING AND FINANCING COMMERCIAL REAL ESTATE, LEADERSHIP, AND MORE. 230358 PROVISION FOR LOAN LOSS/ASC 326 21825616 1 1 0 0 0 0 0 0 0 0 0 0 0 1 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 13 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 1 1 0 1 1 1 0 0 0 PA X AMY C LEICHNER 2154968136 1500 MARKET STREET SUITE 3500 WEST PHILADELPHIA PA 19102 SALVATORE J PATTI CHAIR 0.75 0.75 X X 0 0 0 ANDREA R ALLON VICE CHAIR (THRU 6/2025) 0.75 0.75 X X 0 0 0 JAY GOLDSTEIN DIRECTOR 0.75 0.75 X 0 0 0 JUAN LOPEZ DIRECTOR 0.75 0.75 X 0 0 0 LAWRENCE MCCOMIE SENIOR VICE PRESIDENT 7.50 30.00 X 0 217906 13214 HEATHER HANOWITZ VICE PRESIDENT 7.50 30.00 X 0 159308 29673 CHELLIE CAMERON DIRECTOR 0.75 0.75 X 0 0 0 SAM RHOADS EXECUTIVE VICE PRESIDENT 7.50 30.00 X 0 290738 53376 JODIE HARRIS PRESIDENT 7.50 30.00 X 0 341169 42010 AMY C LEICHNER EVP & CFO (START 9/2025) 8.50 29.00 X 0 54743 5101 JENNIFER LUCAS CROWTHER SENIOR VICE PRESIDENT 17.50 20.00 X 0 161188 68899 0 1225052 212273 0 0 1 0 0 2580693 17914120 20494813 NW MKT TAX CR PRG FEES 900099 3019757 3019757 ECONOMIC DEVELOPMENT 900099 95846 95846 3115603 2356572 2356572 25966988 3115603 0 2356572 17957757 17957757 2500000 2500000 151997 151997 111250 111250 588068 588068 4412 4412 DIR. CONTRACT EXPENSES 549433 549433 PROVISION FOR LOAN LOSS 230358 230358 22093275 21825616 267659 0 31233324 30242128 2811860 1283752 410506 728480 30898038 35133294 225000 225000 4681887 5352229 70260615 72964883 219048 84965 4605075 3550877 22580863 21733063 3592097 4458733 30997083 29827638 X 39263532 43137245 39263532 43137245 70260615 72964883 3873713 0 X 0 1 X 1 1 1 X X 1 PHILA INDUSTR'L DEVLP CORP 236050858 10 1 2500000 0 1 2500000 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. THIS IS A PERMITTED STRUCTURE SINCE PIDC MEETS THE PUBLIC SUPPORT TEST PURSUANT TO IRC SECTION 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 ACCRUED INTEREST RECEIVABLE 168975 DUE FROM AFFILIATED ENTITIES 5183254 5352229 LOANS PAYABLE TO RELATED PARTY 2526237 DUE TO AFFILIATED ENTITIES 1321472 DUE TO RELATED PARTIES 572615 OTHER LIABILITIES 38409 4458733 X 12702868 0 12702868 13264120 13264120 25966988 8829155 0 8829155 13264120 13264120 22093275 PART X, LINE 2: FIN48 (ASC740) THE CORPORATION 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 A TAX POSITIONS MEETING THE MORE LIKELY THAN NOT THRESHOLD, THE AMOUNT RECOGNIZED IN THE COMBINED FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAXING AUTHORITY. THE CORPORATION DOES NOT BELIEVE ITS COMBINED FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS; AS SUCH, NO PROVISION IS RECORDED IN THE COMBINED STATEMENTS OF ACTIVITIES. PIDC AND ITS COMBINED ENTITIES 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 2021 REMAINS OPEN. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONDUIT GRANT REVENUE 13,264,120. PART XII, LINE 4B - OTHER ADJUSTMENTS: CONDUIT GRANT EXPENSE 13,264,120. 1 PAIDREBUILD 1500 MARKET STREET 35 CENTRE WEST PHILADELPHIA PA 19102 232237287 0 12948646 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. PHILADELPHIA INDUSTRIAL DEVELOPMENT CO 1500 MARKET STREET 35 CENTRE WEST PHILADELPHIA PA 19102 236050858 0 4400000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. PIDC COMMUNITY CAPITAL 1500 MARKET STREET 35 CENTRE WEST PHILADELPHIA PA 19102 232889102 0 255474 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. JT GOLDSTEIN LLC 2200 ARCH STREET PHILADELPHIA PA 19103 203811563 0 60000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. SCHINA AND ASSOCIATES CPA 520 S 3RD STREET PHILADELPHIA PA 19147 201589727 0 45300 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. TRINITY PROPERTY ADVISOR 301 E GODFREY AVENUE PHILADELPHIA PA 19120 881267958 0 40000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. POLYMATH CONSULTING LLC 1955 CHESTER AVE ABINGTON PA 19001 863040187 0 33000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. FIRST AMERICAN TITLE INS CO 50 S 16TH ST STE 2600 PHILADELPHIA PA 19102 952566122 0 30000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. GREENLINE ACCESS CAPITAL 3525 I STREET UNIT 111 MAKEN STUDIO NORTH PHILADELPHIA PA 19134 872852513 0 20375 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. JJLN CONSULTING LLC 145 GREENWOOD AVE SUITE 400 WYNOTE PA 19095 461941854 0 20167 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. THE HOME HERO LLC 306 FULTON STREET PHILADELPHIA PA 19147 273374815 0 20000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. JOHN S ONDIK IV 311 BEWLEY RD STE 301 HAVERTOWN PA 19083 178586263 0 18330 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. OUR HOUSE CULTURE CENTER 502 WEST GERMANTOWN PIKE SUITE 200 EAST NORRITON PA 19403 820754074 0 10000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. IRIE ENTREE LLC 4001-4003 CHESTNUT STREET STE 200 PHILADELPHIA PA 19104 851057110 0 10000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. WIN WIN INVESTMENTS LLC 6228 GERMANTOWN AVE PHILADELPHIA PA 19144 384090601 0 10000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. ZENITH SOLUTIONS INC 2400 MARKET STREET PHILADELPHIA PA 19103 883453621 0 10000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. DAILY AND ASSOCIATES LLC 4459 BENSALEM BLVD PHILADELPHIA PA 19020 812969116 0 6000 PIDC CC IS AN AGENT FOR PROVIDING GOV'T GRANTS TO VARIOUS RECIPIENTS. 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 JODIE HARRIS PRESIDENT 0 314169 0 27000 0 0 0 21604 0 20406 0 383179 0 0 SAM RHOADS EXECUTIVE VICE PRESIDENT 0 265738 0 25000 0 0 0 17423 0 35953 0 344114 0 0 LAWRENCE MCCOMIE SENIOR VICE PRESIDENT 0 207906 0 10000 0 0 0 12722 0 492 0 231120 0 0 JENNIFER LUCAS CROWTHER SENIOR VICE PRESIDENT 0 151912 0 9276 0 0 0 10235 0 58664 0 230087 0 0 HEATHER HANOWITZ VICE PRESIDENT 0 151378 0 7930 0 0 0 9487 0 20186 0 188981 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, 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 ANNUAL INCREASE OR DECREASE IN ACTUARIAL VALUE, IF ANY, OF A DEFINED BENEFIT PLAN'S LIABILITY DOES NOT CORRESPOND TO THE ACTUAL BENEFIT DUE FIXED MONTHLY BENEFIT FOR HIS/HER LIFE COMMENCING AT NORMAL RETIREMENT. THE FORM 990 REQUIRES MANAGEMENT TO REPORT AS DEFERRED COMPENSATION THE BENEFIT PLAN. AS THE CHANGE IN THE PRESENT VALUE OF THE DEFINED TO THE PLAN PARTICIPANTS AND THE PLAN WAS FROZEN EFFECTIVE DECEMBER 31, 2014, MANAGEMENT DID NOT REPORT A VALUE WITHIN PART II (C). THE VALUES THAT ARE DISCLOSED IN PART II (C) INCLUDE EMPLOYER 401K CONTRIBUTIONS. ON MAY 14, 2024, THE PIDC RETIREMENT COMMITTEE PASSED A RESOLUTION TO TERMINATE THE PLAN. ON JULY 31, 2024, THE PLAN ADOPTED AN AMENDMENT TO TERMINATE AND LIQUIDATE THE PLAN. ALL PARTICIPANTS WERE FULLY VESTED IN THEIR BENEFITS, WHICH WERE PAID OUT IN A LUMP SUM OR TRANSFERRED TO A NONPARTICIPATING SINGLE PREMIUM GROUP ANNUITY CONTRACT. 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 FOR THE FORM 990. THE FORM 990 IS REVIEWED INTERNALLY AND IS PREPARED AND REVIEWED BY PIDC'S OUTSIDE TAX ADVISORS. ONCE COMPLETE, THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE DRAFT FORM 990, AND ANY NECESSARY REVISIONS ARE MADE. THE FINAL VERSION IS PROVIDED TO THE FULL VOTING BOARD OF DIRECTORS PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. 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 AN ANNUAL 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 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. 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 18 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC PIDC MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC PIDC FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS (INCLUDING THE CONFLICT OF INTEREST POLICY) ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC. 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 315 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