Pittsburgh Downtown Partnership

Nonprofit profile at a glance

EIN
251728064
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-T 2022
Location
Pittsburgh, PA, USA
Phone
4125664190
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$23,504,006
Expenses
$19,792,628
Assets
$15,973,573
Liabilities
$4,099,163

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

54 people listed

Executive titles in this filing

  • JEREMY WALDRUP (PRESIDENT & CEO)

Highest reported compensation

  • JEREMY WALDRUP (PRESIDENT & CEO): $392,467 total reported compensation
  • AARON SUKENIK (VP OF DISTRICT DEVELOPMENT): $180,155 total reported compensation
  • LEAH BALDWIN (CHIEF OF STRATEGY AND ADMINISTRATION): $180,086 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To advance initiatives that foster economic vitality and improve downtown life - for a moment or for a lifetime.

What it reported doing in 2025

Economic development and programming - in 2025, the district development team remained focused on attracting investment in new business development, with a particular emphasis on growing the retail base through its retail development programs: downtown rent abatement and project pop-up. The state of downtown series was relaunched featuring four quarterly webinars focused on the real estate market and economic growth. The team led the market square modernization project and collaborated with local business to prepare for expanded outdoor dining. Public realm projects, including pedestrian lighting on coffey way and sidewalk repairs, enhanced streetscapes. The events team generated excitement and energy throughout downtown by hosting more than 350 events in 2025. Events like picklesburgh, light up night, new winter programming through the thaw, and packed watch parties on 6th street helped drive year-round engagement. Signature series like farmer's market and peoples gas holiday market were relocated due to market square construction creating opportunities for new experiences and expanded activation throughout downtown. The placemaking grant program also served as a vital tool for activation and cultural enrichment funding 18 projects, including 11 special events and two event series.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 84
  • Accountability: 99
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.3%; rating input score 81
  • Program expense ratio: 95.1%; rating input score 95
  • Fundraising efficiency: $75.25 raised per $1 spent on fundraising; rating input score 81; 81st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 98%; rating input score 98; 27th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15.8%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 0.81; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 14.2% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 11.4% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 81.3% of revenue deployed · 95.1% of spending went to programs
  • Governance: 48 of 49 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $18.8M in reported program spending
  • Leadership: top reported pay $392K · 54 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $12.5M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.