Ridc Mill 19B

Nonprofit profile at a glance

EIN
352617410
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Pittsburgh, PA, USA
Phone
4123156440
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$2,621,296
Expenses
$3,052,515
Assets
$18,881,734
Liabilities
$17,403,323

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

Leadership & pay

14 people listed

Executive titles in this filing

  • SMITH DONALD F JR (PRESIDENT)

Highest reported compensation

  • SMITH DONALD F JR (PRESIDENT): $712,374 total reported compensation
  • WHITE TIMOTHY F (SENIOR VP - DEVELOPMENT): $453,770 total reported compensation
  • GOLDSTROM MICHAEL (SENIOR VP - REAL ESTATE): $382,083 total reported compensation

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

Overview

Mission

Ridc mill 19b shall be operated as an organization that is organized, 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 burdens of government and combating community deterioration by developing an industrial development project at a location within the city of pittsburgh, Pennsylvania.

What it reported doing in 2024

Ridc mill 19b a non-profit corporation, was incorporated in 2018 to serve as a qualified low income community business("qalicb") entity that owns and operates the mill 19b building in the hazelwood neighborhood of pittsburgh, Pennsylvania.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 86
  • Accountability: 79
  • Sustainability: 32
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • 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: 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 14th 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: -16.5%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 6.19; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: -1.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.1M in reported program spending
  • Leadership: top reported pay $712K · 14 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 28 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 — Sustainability: Operating margin scored 8/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.