Overview
What is Riverworks Development Corporation?
Riverworks Development Corporation, based in Milwaukee, Wisconsin, is a nonprofit organization dedicated to fostering social and economic growth in the Harambee, Riverwest, and surrounding communities. Their primary mission involves connecting residents and businesses with specialized resources, thereby strengthening these communities. One of their key initiatives is the Financial Clinic, which provides innovative solutions to help families, individuals, and small businesses achieve their financial goals. This is accomplished through one-on-one financial coaching, group-based education, free tax preparation services, debt management, planning, goal setting, banking relationship building, and referral resources. In 2022, 187 clients received personalized financial coaching, 1,196 individuals were referred to financial resources, and 1,172 individuals were assisted in preparing and submitting their tax returns. Overall, Riverworks Development Corporation aims to empower individuals and communities by equipping them with the necessary tools to improve their financial well-being.
Official website here: www.riverworksmke.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Star rating)
Riverworks Development Corporation has achieved a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The organization scored particularly well in several key areas, including having a fully independent board and a strong program expense ratio, which suggests that a significant portion of its resources is directed towards its mission-driven programs.
The charity's financial practices show robust oversight, with no material diversion of assets reported and a solid liabilities to assets ratio. The absence of a whistleblower policy is noted as a limitation, but overall, the organization's governance structure and financial transparency are strong, contributing to its high score.
Despite the missing whistleblower policy, Riverworks Development Corporation demonstrates a commitment to responsible management and operational integrity. Its performance in accountability and finance reflects positively on its ability to serve its community effectively.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Riverworks Development Corporation?
92% of 19 reviewers on Facebook recommend Riverworks Development Corporation. Here is a summary of their reviews:
The overall sentiment reflects a mix of satisfaction and frustration. While many commend the organization for its mission and the community services it provides, there are notable concerns regarding responsiveness and project completion. One reviewer expressed significant disappointment with delays in window replacements and a lack of communication, feeling compelled to seek assistance from local authorities.
In general, while the majority of reviewers appreciate the nonprofit's efforts and support for the community, the experiences described suggest that improvements in communication and project management are needed to enhance user satisfaction further.
This AI summary has been generated from reviews found on Facebook.
Is Riverworks Development Corporation legitimate?
Riverworks Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Riverworks 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: $151,214
Professional Fundraising Fees: $116,356
Other Salaries and Wages: $796,866
For more financial information, click here
Official website here: www.riverworksmke.org
What is the mission statement of Riverworks Development Corporation?
Riverworks Development Corporation, abbreviated as RDC, aims to foster social and economic growth by bridging residents and businesses with specialized resources. This alignment strengthens communities such as Harambee, Riverwest, and their surrounding areas. The corporation provides innovative financial solutions to help families, individuals, and small businesses achieve their financial goals. This is done through one-on-one financial coaching, group-based education, free tax preparation services, debt management, planning, goal setting, building banking relationships, and referral to additional resources. In 2022, 187 clients benefited from one-on-one financial coaching services, 1,196 individuals were referred to financial resources and programs, and 1,172 individuals were assisted in preparing and submitting their tax returns.
Official website here: www.riverworksmke.org
Who is the CEO of Riverworks Development Corporation?
Stephen Adams is the Principal Officer of Riverworks Development Corporation.
Official website here: www.riverworksmke.org
What is the revenue of Riverworks Development Corporation?
Riverworks Development Corporation's revenue in 2022 was $2,491,512.
Official website here: www.riverworksmke.org
Who are the executives of Riverworks Development Corporation and what are their salaries?
The average compensation at Riverworks Development Corporation during 2022 was $26,336. There are 36 employees and 170 volunteers at Riverworks Development Corporation.
Here are 15 key members and their salaries:
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- Compensation: $113,927
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- Other: $37,287
Official website here: www.riverworksmke.org
Where can I find the form 990 for Riverworks Development Corporation?
Riverworks Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.riverworksmke.org
Learn more at the official website: www.riverworksmke.org
Mission Statement of Riverworks Development Corporation
Riverworks Development Corporation (RDC) is a nonprofit organization that plays a pivotal role in driving social and economic development. Its mission is to bring residents and businesses within Harambee, Riverwest, and surrounding communities together with specialized resources. By doing so, RDC aims to strengthen these communities, fostering growth and prosperity.
At the heart of RDC's operations is its Financial Clinic. This innovative initiative provides solutions to help families, individuals, and small businesses reach their full potential. Through one-on-one financial coaching, group-based education, free tax preparation services, debt management, planning, goal setting, and bank relationship building, the Financial Clinic empowers clients to improve their credit scores, build wealth, and achieve both short-term and long-term financial goals. In 2022, over 180 individuals benefited from one-on-one financial coaching services, while 1,196 were referred to financial resources and programs through the Financial Navigator Program. Furthermore, 1,172 individuals were assisted in preparing and submitting their tax returns through the Volunteer Income Tax Assistance (VITA) Program.
In essence, Riverworks Development Corporation (RDC) is a catalyst for change, connecting residents and businesses with the resources they need to thrive. By focusing on financial literacy and empowerment, RDC helps individuals and families build stronger foundations, ultimately contributing to the overall strengthening of their communities.
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Impact
July, 2024
Riverworks Development Corporation's impact is significant in driving social and economic development by aligning residents and businesses with specialized resources that strengthen the Harambee, Riverwest, and surrounding communities. One of their key programs is the Financial Clinic, which provides innovative solutions to help families, individuals, and small businesses reach their full potential. Through services such as one-on-one financial coaching, group-based education, free tax preparation, debt management, planning, goal setting, and building banking relationships, Riverworks Development Corporation has had a tangible impact. In 2022 alone, they assisted 187 clients with one-on-one financial coaching, referred 1,196 individuals to financial resources and programs, and helped 1,172 individuals prepare and submit their tax returns through the Volunteer Income Tax Assistance (VITA) program. Their work not only empowers individuals and businesses but also contributes to the overall improvement of the community.
This information is meant to be a general summary of Riverworks 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 2022.
- Investment Income: $5,095
- Program Service Revenue: $655,914
- Gross Receipts: $2,990,212
Assets and Liabilities:
- Total Assets: $6,357,876
- Total Liabilities: $3,062,618
- Net Assets: $3,295,258
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER PROGRAM SERVICES
Revenue
$204,707
CITY OF MILWAUKEE
Revenue
$197,888
COIN LAUNDRY
Revenue
$177,519
ADMIN SUPPORT-BUS IMP
Revenue
$75,800
Organization Details
Founding Year
1992
Phone
(414) 906-9650Principal Officer
Stephen Adams
Main Address
526 E CONCORDIA AVENUE, MILWAUKEE, WI, 53212
Website
www.riverworksmke.orgNTEE Category
Code: S20Z - Community improvement
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