2024-06-21T07:20:00-07:00 2023-12-31 232989882 LOCKE AND WELSH PC 1501 LOWER STATE ROAD SUITE 302 NORTH WALES PA 19454 990 2023-01-01 232939646 PHILADELPHIA SHIPYARD DEVELOPMENT CORPORATION PHIL 2154652363 PO BOX 586 EAGLEVILLE PA 19403 LISA CHAMBERS OFFICER 2154652363 2024-05-29 true LISA CHAMBERS XXX-XX-XXXX true GREGORY A LOCKE P00510792 2158228141 2024-06-21 3 AAL1 IAL1 FAL1 2023 2023-04-26 12:10:37Z LISA CHAMBERS PO Box 586 Eagleville PA 19403 389891 false X N/A X 1997 PA PSDC'S PRIMARY EXEMPT PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENT FOR TWO GOVERNMENTAL ORGANIZATIONS: COMMONWEALTH OF PA (COMMONWEALTH)AND CITY OF PHILADELPHIA (CITY) 5 5 1 0 0 0 189792 169388 0 1838 20326 200473 200177 392103 389891 0 0 109077 126458 0 0 114744 101322 223821 227780 168282 162111 994472 987195 507086 337698 487386 649497 PSDC'S PRIMARY EXEMPT PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENT FOR TWO GOVERNMENTAL ORGANIZATIONS: COMMONWEALTH OF PA (COMMONWEALTH)AND CITY OF PHILADELPHIA (CITY) false false 132668 0 0 PSDC SUCCESSFULLY OVERSAW THE CONSTRUCTION OF A STATE OF THE ART SHIPBUILDING FACILITY IN THE FORMER PHILADELPHIA NAVAL SHIPYARD THAT IS NOW PRODUCING COMMERCIAL VESSELS AT FULL CAPACITY AS WELL AS WORKING ON GOVERNMENT SHIPS. IT WAS ALSO INVOLVED IN THE PROCESS OF HIRING AND TRAINING SHIPYARD WORKERS, THROUGH ITS ADMINISTRATION OF PUBLIC FUNDS USED FOR THOSE PURPOSES. MORE THAN 1402 JOBS AT THE REVITALIZED SHIPYARD WERE CREATED THROUGH THESE EFFORTS. PSDC LESSENS THE BURDEN OF GOVERNMENT BY REPRESENTING THE INTERESTS OF GOVERNMENTAL ENTITIES IN CONNECTION WITH TRANSACTIONS THAT CONTRIBUTE TO THE RETENTION OF SHIPBUILDING JOBS IN THE PHILADELPHIA REGION. 132668 true false false true false false false false false false true false false true true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 true 1 true false false false false false false false false false false false false false false false X 5 5 false false false false false true false true true false false true true true true true true true false false PA X LISA CHAMBERS 2154652363 101 NORTH TROOPER RD TROOPER PA 19403 MANUEL N STAMATAKIS CHAIRPERSON 1.00 X 0 0 0 MICHAEL J ACKER TREASURER 1.00 X 0 0 0 WILLIAM P HANKOWSKY SECRETARY 1.00 X 0 0 0 JOHN SALER MEMBER 1.00 X 0 0 0 JIM SNELL MEMBER 1.00 X 0 0 0 LISA M CHAMBERS EXEC DIR 40.00 X 103000 0 14722 103000 0 14722 1 false false false 169388 169388 20326 0 20326 200000 200000 200000 200000 177 0 0 177 177 389891 200000 0 20503 117722 100064 17658 0 8736 7426 1310 0 14698 12493 2205 0 23581 0 23581 0 873 873 0 0 3329 0 3329 0 558 0 558 0 46496 11812 34684 0 MISCELLANEOUS 8671 0 8671 0 TELEPHONE SERVICES 1090 0 1090 0 SUPPLIES 37 0 37 0 INTERNET 1989 0 1989 0 227780 132668 95112 0 554282 551294 5000 0 0 0 13765 14476 161425 161425 161425 260000 260000 994472 987195 507086 337698 507086 337698 X 326839 488073 160547 161424 487386 649497 994472 987195 162111 X false true X true false X X 2 COMMONWEALTH OF PENNSYLVANIA 236003112 6 true 0 0 CITY OF PHILADELPHIA 236003047 6 true 0 0 2 0 0 0 0 0 0 true false false false false false false false false false false false false false false true false false false false false false false false false true 873 873 Pt II-B Line 1 THE ORGANIZATION RETAINS A WASHINGTON BASED PROFESSIONAL TO MONITOR LEGISLATION AND ISSUES RELATING TO THE SHIPBUILDING INDUSTRY. 0 161425 161425 161425 RESTRICTED CASH 260000 260000 SECURITY DEPOSIT PAYABLE 260000 HEALTH INSURANCE PAYABLE 455 DEFERRED GRANT 77243 337698 464406 74515 74515 389891 389891 227780 227780 227780 Pt XI, Line 2d DURING 2022 THE ORGANIZATION ADOPTED GASB ACCOUNTING STANDARDS UPDATE 87, LEASES WHICH CHANGED THE ACCOUNTING FOR LEASES. THIS CHANGE DOES NOT AFFECT THE TAX REPORTING. Pt VI, Line 15a Compensation process for top official-Artical III of the corporate by-laws requires board approval for all compensation, including fringe benefits, paid to all officers. Pt VI, Line 15b Compensation of key employees-During the 2023 filing year, there was one key employee at the organization and Article III of the corporate by-laws requires Board approval of compensation for all key employees. Pt VI, Line 19 Governing Documents Disclosure Explanation- The corporation's governing documents, conflict of interest policy and financial statements are available to the public upon request. Pt VI, Line 11b The Audit Committee of the Board of Directors meets with the corporation's auditors to review the corporation's audited financial statement before it is furnished to The Board of Directors for its review. The Executive Director, with the assistance of the corporation's counsel, reviews the Form 990, which is based on the audit, checking its entries against the data in the audited financial statement,and also checking the accuracy of the responses to questions regarding corporate policies and procedures. The Form 990 is given to the Audit Committee to review. The reviewed copies are given to the other two members prior to submittal. Pt VI, Line 12c Conflict of interest policy- The corporation's board of directors meets on a quarterly basis to review all company policies. Pt VI, Line 7a The Corporation's bylaws provide for the appointing of up to five directors as follows: three by the Governor of Pennsylvania, one by the Mayor of Philadelphia, and one by the Board of Directors. Currently there is one open director seat to be filled.