Overview
What is Delaware River Waterfront Corporation?
The Delaware River Waterfront Corporation (DRWC), located in Philadelphia, Pennsylvania, is a nonprofit organization committed to managing and developing the six-mile stretch of the Central Delaware River Waterfront. This area, defined by Oregon Avenue in the south and Allegheny Avenue in the north and from I-95 to the Delaware River, aims to transform into a vibrant destination for recreational, cultural, port/industrial, and commercial activities for Philadelphia's residents, workers, and visitors. DRWC's mission is crucial to the city as it would otherwise be the city's responsibility to maintain and promote the use of the central waterfront. The organization, with 224 employees, undertakes this task with dedication.
Official website here: www.delawareriverwaterfront.com
What are the reviews and ratings of this charity?
Charity Navigator rating: 81%, Three-Star out of Four Star rating.
The Delaware River Waterfront Corporation has received an overall score of 81%, which reflects positively on its Accountability & Finance practices. With a perfect score for having a majority of independent board members and a commendable program expense ratio of 88.28%, the organization demonstrates a strong commitment to financial integrity and transparency. The presence of policies regarding conflicts of interest and whistleblowing further reinforces its commitment to ethical governance.
However, while the financial oversight is robust, the ratings indicate that the overall assessment derives solely from the Accountability & Finance beacon, suggesting that other areas such as Impact and Leadership may not have been evaluated. The salaries of key personnel are on the higher side, which could be a point of consideration for potential donors who prioritize how funds are allocated within the organization.
Overall, Delaware River Waterfront Corporation appears to have strong financial practices and governance structures in place, making it a relatively reliable choice for those looking to contribute to its mission. Nonetheless, stakeholders might benefit from more comprehensive insights into the organization's impact and operational effectiveness beyond financial metrics.
This AI summary has been generated from information found on Charity Navigator.
Is Delaware River Waterfront Corporation legitimate?
Delaware River Waterfront Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Delaware River Waterfront 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: $970,907
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,687,275
For more financial information, click here
Official website here: www.delawareriverwaterfront.com
What is the mission statement of Delaware River Waterfront Corporation?
The Delaware River Waterfront Corporation is committed to maintaining and promoting the use and development of Philadelphia's central waterfront. This essential task, which is vital to the city, would otherwise fall upon the city's shoulders. The organization focuses on the planning, design, development, and management of a six-mile stretch of the central Delaware River Waterfront in Philadelphia, from Oregon Avenue in the south to Allegheny Avenue in the north, and from I-95 to the Delaware River. Over time, DRWC aims to transform the central Delaware River Waterfront into a vibrant destination for recreational, cultural, port/industrial, and commercial activities for Philadelphia's residents, workers, and visitors. Through its efforts, the waterfront will offer a variety of activities for the enjoyment and enrichment of the community.
Official website here: www.delawareriverwaterfront.com
Who is the CEO of Delaware River Waterfront Corporation?
Larry Bell is the President of Delaware River Waterfront Corporation.
Official website here: www.delawareriverwaterfront.com
What is the revenue of Delaware River Waterfront Corporation?
Delaware River Waterfront Corporation's revenue in 2022 was $19,823,036.
Official website here: www.delawareriverwaterfront.com
Who are the executives of Delaware River Waterfront Corporation and what are their salaries?
The average compensation at Delaware River Waterfront Corporation during 2022 was $16,331. There are 224 employees and 16 volunteers at Delaware River Waterfront Corporation.
Here are 21 key members and their salaries:
- Compensation: $205,635
- Related: $0
- Other: $74,979
- Compensation: $169,093
- Related: $0
- Other: $55,981
- Compensation: $103,976
- Related: $0
- Other: $23,362
- Compensation: $94,846
- Related: $0
- Other: $18,060
- Compensation: $103,846
- Related: $0
- Other: $14,874
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Official website here: www.delawareriverwaterfront.com
Where can I find the form 990 for Delaware River Waterfront Corporation?
Delaware River Waterfront Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.delawareriverwaterfront.com
Learn more at the official website: www.delawareriverwaterfront.com
Mission Statement of Delaware River Waterfront Corporation
Delaware River Waterfront Corporation (DRWC) is a dedicated organization that plays a crucial role in maintaining and promoting the use and development of Philadelphia's central waterfront. This mission is of vital importance to the city, as it would otherwise require the city's resources to carry out this task.
DRWC's primary objective is to transform the Central Delaware River Waterfront in Philadelphia into a vibrant destination for the recreational, cultural, port/industrial, and commercial activities of the city's residents, workers, and visitors. This six-mile stretch of waterfront, defined by Oregon Avenue in the south and Allegheny Avenue in the north, from I-95 to the Delaware River, is the focus of DRWC's efforts.
The organization is committed to planning, designing, developing, and managing the Central Delaware River Waterfront. Its ultimate goal is to create an area that effectively attracts a diverse range of activities, making it an integral part of Philadelphia's urban life. DRWC's work is essential in enhancing the city's waterfront, bringing it to life with activities that cater to various interests and needs.
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Impact
October, 2024
The Delaware River Waterfront Corporation plays a crucial role in transforming the Central Delaware River waterfront in Philadelphia. By focusing on planning, design, and development, it fosters a vibrant destination that integrates recreational, cultural, commercial, and industrial activities. Covering a six-mile stretch from Oregon Avenue to Allegheny Avenue, the organization enhances the waterfront's appeal for residents, workers, and visitors alike.
Through its initiatives, the Corporation promotes the waterfront as a hub for community engagement and economic growth, contributing to the revitalization of the area. Its efforts not only improve public access to the riverfront but also create spaces for various activities and events, enriching the overall quality of life in Philadelphia. The ongoing development projects spearheaded by the DRWC ensure that the riverfront serves as a vital asset for the city, encouraging community interaction and fostering a sense of place.
This information is meant to be a general summary of Delaware River Waterfront 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 2022.
- Investment Income: $281,770
- Program Service Revenue: $11,618,049
- Gross Receipts: $19,857,498
Assets and Liabilities:
- Total Assets: $138,544,770
- Total Liabilities: $107,558,919
- Net Assets: $30,985,851
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$9,483,191
SERVICE REVENUE
Revenue
$2,134,858
Organization Details
Founding Year
1970
Phone
(215) 629-3200Principal Officer
Larry Bell
Main Address
121 N COLUMBUS BOULEVARD, PHILADELPHIA, PA, 19106
NTEE Category
Code: S30 - Community improvement
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