Overview
What is Philadelphia Shipyard Development Corporation?
Philadelphia Shipyard Development Corporation (PSDC) is a nonprofit organization situated in Eagleville, Pennsylvania. Its primary objective is to alleviate governmental burdens by representing the interests of two government entities: the Commonwealth of Pennsylvania and the City of Philadelphia. PSDC spearheaded the construction of a modern shipbuilding facility in the former Philadelphia Naval Shipyard, which currently produces commercial vessels at full capacity and works on government ships. Furthermore, PSDC played a key role in hiring and training shipyard workers, leading to the creation of over 1400 jobs at the revitalized shipyard. Presently, PSDC continues its operations with a single employee.
Is Philadelphia Shipyard Development Corporation legitimate?
Philadelphia Shipyard Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Philadelphia Shipyard Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $117,722
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Philadelphia Shipyard Development Corporation?
The Philadelphia Shipyard Development Corporation's primary mission is centered around alleviating the responsibilities of two governmental entities, specifically the Commonwealth of PA and the City of Philadelphia. It accomplishes this by overseeing the construction of a modern shipbuilding facility, currently producing commercial vessels at full capacity and working on government ships. Additionally, the corporation plays a role in hiring and training shipyard workers through the administration of public funds. These initiatives have resulted in the creation of over 1400 jobs, thereby lessening the governmental burden by representing the interests of these entities in transactions that retain shipbuilding jobs in the region.
What is the revenue of Philadelphia Shipyard Development Corporation?
Philadelphia Shipyard Development Corporation's revenue in 2023 was $389,891.
Who are the executives of Philadelphia Shipyard Development Corporation and what are their salaries?
The average compensation at Philadelphia Shipyard Development Corporation during 2023 was $117,722. There is 1 employee at Philadelphia Shipyard Development Corporation.
Here are 6 key members and their salaries:
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- Compensation: $103,000
- Related: $0
- Other: $14,722
Where can I find the form 990 for Philadelphia Shipyard Development Corporation?
Philadelphia Shipyard Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Philadelphia Shipyard Development Corporation
Philadelphia Shipyard Development Corporation (PSDC) is dedicated to alleviating the responsibilities of two governmental entities: the Commonwealth of Pennsylvania and the City of Philadelphia. This nonprofit organization achieves this mission by lessening the burden on these entities through its primary role in overseeing the construction of a modern shipbuilding facility. This facility, formerly the Philadelphia Naval Shipyard, now produces commercial vessels at full capacity and works on government ships.
In addition to its construction efforts, PSDC plays a significant role in the employment sector. It is involved in the hiring and training of shipyard workers, utilizing public funds for these purposes. As a result, more than 1400 job opportunities have been created at the revitalized shipyard. By representing the interests of governmental entities in transactions that contribute to the retention of shipbuilding jobs in the Philadelphia region, PSDC effectively lessens the burden of government.
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Impact
October, 2024
The Philadelphia Shipyard Development Corporation (PSDC) significantly enhances the local economy and workforce through its strategic initiatives in shipbuilding. By overseeing the construction of a state-of-the-art shipbuilding facility at the former Philadelphia Naval Shipyard, PSDC has turned this site into a hub for commercial and governmental maritime projects. This investment not only revitalizes a historic area but also increases the region's industrial capacity.
PSDC plays a crucial role in workforce development by managing public funds for the hiring and training of shipyard workers. Its efforts have directly led to the creation of over 1,402 jobs, fostering economic growth and job stability in the Philadelphia region. Consequently, PSDC helps retain and expand shipbuilding jobs, ensuring that the local community benefits from increased employment opportunities.
In representing both the Commonwealth of Pennsylvania and the City of Philadelphia, PSDC effectively lessens governmental burdens through transactions and initiatives that promote shipbuilding. This not only supports current economic conditions but also lays the groundwork for future growth and sustainability in the maritime industry, contributing to a robust and dynamic regional economy.
This information is meant to be a general summary of Philadelphia Shipyard Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $20,326
- Gross Receipts: $389,891
Assets and Liabilities:
- Total Assets: $994,472
- Total Liabilities: $507,086
- Net Assets: $487,386
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Organization Details
Founding Year
1997
Principal Officer
Lisa Chambers
NTEE Category
Code: S020 - Community improvement
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