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The Ridc Regional Growth Fund
The Ridc Regional Growth Fund reported $16.1 million in revenue and $14.6 million in expenses for calendar year 2024. Of every $100 it spent, $93.46 went to program services, $6.54 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 90.5% of the total. Government grants made up 9.3%. The highest compensation it reported for one person was $712,374 (PRESIDENT). Revenue rose 119% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $15MFor context, the median across 479 covered community improvement & capacity building charities: $90.45 programs, $9.31 management, $0.24 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $16MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 93.5% | 89.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 6.5% | 9.2% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 9.3% | 80.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 9.3% | 14.9% |
| Program service revenue share Part VIII 2g ÷ 12 | 90.5% | 11.9% |
| Highest reported compensation Part VII-A, columns D–F | $712,374 | $291,103 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 4.87% | 1.49% |
| People paid over $100,000 Part VII, line 2 | 0 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 7.7 | 9.2 |
| Independent voting board members Part VI 1a–1b | 7 of 8 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseThe Regional Growth Fund was incorporated in 1985 to promote educational and training programs in areas such as computer science, robotics, medical instrumentation, and advanced technology by providing facilities and financing to colleges and universities in southwestern pennsylvania. The principal project of the Regional Growth Fund is the management and development of the 2,800,000 square foot former volkswagen plant/sony factory located in westmoreland county, pennsylvania
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Director/trustee, officer, 4.00 hrs/week | $0 | $644,830 | $67,544 | $712,374 |
| SENIOR VP - DEVELOPMENT Officer, 4.00 hrs/week | $0 | $403,277 | $50,493 | $453,770 |
| SENIOR VP - REAL ESTATE Officer, 4.00 hrs/week | $0 | $332,009 | $50,074 | $382,083 |
| CORPORATE SECRETARY Officer, 4.00 hrs/week | $0 | $231,291 | $41,417 | $272,708 |
| DIRECTOR, PROPERTY MGMT Highest compensated employee, 4.00 hrs/week | $0 | $186,304 | $22,460 | $208,764 |
| DIRECTOR OF COMMUNITY INVE Highest compensated employee, 4.00 hrs/week | $0 | $171,977 | $31,534 | $203,511 |
| DIRECTOR, ASSET MANAGEMENT Highest compensated employee, 4.00 hrs/week | $0 | $171,745 | $31,272 | $203,017 |
| CONSTRUCTION MANAGER Highest compensated employee, 4.00 hrs/week | $0 | $152,309 | $36,262 | $188,571 |
0 people received more than $100,000 in reportable compensation from The Ridc Regional Growth Fund (Part VII, line 2).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b8 · 7 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| KELLINGTON PROTECTION LLC Protection services | $618,560 |
| INDUSTRIAL EMPLOYEES DBA TRADEWORX Construction contractor | $518,663 |
| FTBA Electrical services | $319,556 |
| INDUSTRIAL COMMERCIAL ELEVATOR Construction contractor | $209,228 |
| SILVIS GROUP INC Landscaping services | $199,247 |
Individuals listed as contractors are left out. 11 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from The Ridc Regional Growth Fund's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Ridc Regional Growth Fund, you can publish a response that is linked from this page.
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Of every $100 The Ridc Regional Growth Fund spent in 2024, $93.46 went to programs. The full breakdown, from its IRS Form 990:
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All community improvement & capacity building charities · Largest charities in Pennsylvania
Questions people ask
How much of The Ridc Regional Growth Fund's spending goes to programs?
In calendar year 2024, The Ridc Regional Growth Fund reported that 93.5% of its $14.6 million in expenses went to program services, 6.5% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does The Ridc Regional Growth Fund pay its top executive?
The largest total compensation The Ridc Regional Growth Fund reported for one person in calendar year 2024 was $712,374, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Ridc Regional Growth Fund get its money?
Of $16.1 million in revenue in calendar year 2024, 9.3% came from contributions and grants (including 9.3% from government grants) and 90.5% from program service revenue (Form 990, Part VIII).
Is The Ridc Regional Growth Fund a registered charity?
The IRS lists EIN 25-1495484 as a 501(c)(3) organization (supporting organization (509(a)(3))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202543039349302219 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202443209349301969 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303189349317610 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203189349314545 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103129349303505 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003189349310360 · read the filing
All filings for EIN 25-1495484: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.