Pidc-Local Development Corporation

Overview

Pidc-Local Development Corporation (PIDC-LDC) is a 501(c)(4) civic organization based in Philadelphia, Pennsylvania. As a social welfare organization, it aims to promote community welfare through economic development initiatives.

Purpose and Activities

PIDC-LDC is involved in administering various federally funded grant programs on behalf of the City of Philadelphia. These programs include Community Development Block Grants, Housing and Urban Development loans, and Economic Development Administration loans. The primary goal of these initiatives is to support economic development initiatives across Philadelphia, focusing on community improvement and capacity building.

Relationship with PIDC

While PIDC-LDC is a distinct entity, its operations are often associated with the broader work of the Philadelphia Industrial Development Corporation (PIDC), which serves as a public-private economic development corporation for Philadelphia. PIDC supports businesses, nonprofits, and developers by providing financing and real estate products, contributing significantly to Philadelphia's economic growth and job creation.

Financial Structure

As a 501(c)(4) organization, contributions to PIDC-LDC are not tax-deductible. The organization's financial activities are primarily driven by program services, with minimal investment income and no reported executive compensation or professional fundraising fees in past financial records.

Impact

Through its affiliation with ongoing economic development projects in Philadelphia, PIDC-LDC plays a role in enhancing the city's economic landscape by supporting initiatives that foster community welfare and economic growth. However, the organization's direct activities are more specific to the administration of federal grants rather than the broader economic development mission of PIDC.