Pidc Penn Venture Fund

Nonprofit profile at a glance

EIN
271585341
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2154968020
Rating
56
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$31,491
Expenses
$131
Assets
$1,187,575
Liabilities
$144,869

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

38 people listed

Executive titles in this filing

  • SAM RHOADS (EXECUTIVE VICE PRESIDENT)
  • JODIE HARRIS (PRESIDENT)
  • KATHLEEN MCNAMARA (SENIOR VICE PRESIDENT)
  • LAWRENCE MCCOMIE (SENIOR VICE PRESIDENT)

Highest reported compensation

  • JODIE HARRIS (PRESIDENT): $362,773 total reported compensation
  • SAM RHOADS (EXECUTIVE VICE PRESIDENT): $308,161 total reported compensation
  • KATHLEEN MCNAMARA (SENIOR VICE PRESIDENT): $241,348 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Pidc pvf fosters economic growth and promotes employment and public welfare by providing funds to finance the early and intermediate needs of growing and existing businesses.

What it reported doing in 2024

Economic development: pidc pvf provides funds to finance the early and intermediate needs of growing and existing businesses.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 33
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.4%; rating input score 0
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 99.6%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 9,065.46; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 54,426.7%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.9% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 0.4% of revenue deployed · 100% of spending went to programs
  • Governance: 30 of 30 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $131 in reported program spending
  • Leadership: top reported pay $363K · 38 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.