Overview
What is Riverfront Development Corporation Of Delaware?
The Riverfront Development Corporation of Delaware, situated in Wilmington, Delaware, is a nonprofit organization with a mission to stimulate economic growth along the Brandywine and Christina Rivers. Their primary objectives include enhancing the environment, preserving history, and fostering community access. By leveraging strategic investments, they aim to generate employment opportunities, promote residential development, and support education, arts, and tourism in the area. The corporation's significant contribution to the community includes operating a conference center that attracts over 198,000 visitors annually, creating over 60 full-time jobs and additional seasonal positions. Their address is 815 Justison Street, Wilmington, DE 19801. The corporation employs a total of 41 individuals.
Official website here: www.riverfrontwilm.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Riverfront Development Corporation of Delaware has earned a Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization’s high score indicates effective financial management and transparency, which are critical for building trust with donors and stakeholders. The organization has maintained a solid accountability framework, ensuring that financial practices are conducted with integrity.
One of the notable strengths of the organization is its fully independent board, composed of 21 members, which enhances governance and decision-making processes. The charity also demonstrates a commitment to oversight with a robust audit and financial oversight committee. Furthermore, it has established comprehensive policies regarding conflicts of interest and whistleblower protections, reinforcing its dedication to ethical standards.
In addition to its governance strengths, the Riverfront Development Corporation maintains a strong program expense ratio of over 92%, indicating that a significant portion of its resources directly supports its mission-related activities. This efficient allocation of funds is a positive sign for potential donors. Overall, while the charity showcases numerous strengths in governance and financial health, continuous monitoring will be essential to ensure ongoing effectiveness and impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Riverfront Development Corporation Of Delaware legitimate?
Riverfront Development Corporation Of Delaware is a legitimate nonprofit organization registered as a 501(c)(3) entity. Riverfront Development Corporation Of Delaware 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: $155,891
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,029,847
For more financial information, click here
Official website here: www.riverfrontwilm.com
What is the mission statement of Riverfront Development Corporation Of Delaware?
The Riverfront Development Corporation of Delaware's mission is centered around fostering economic growth. Specifically, it aims to revitalize the Brandywine and Christina Rivers by making strategic investments. This initiative not only creates employment opportunities and encourages residential development but also promotes activities such as education, arts, creation, and tourism. Additionally, the corporation is committed to preserving history and enhancing the environment while ensuring community access.
Official website here: www.riverfrontwilm.com
Who is the CEO of Riverfront Development Corporation Of Delaware?
Megan Mcglinchey is the Board Of Directors of Riverfront Development Corporation Of Delaware.
Official website here: www.riverfrontwilm.com
What is the revenue of Riverfront Development Corporation Of Delaware?
Riverfront Development Corporation Of Delaware's revenue in 2023 was $3,658,097.
Official website here: www.riverfrontwilm.com
Who are the executives of Riverfront Development Corporation Of Delaware and what are their salaries?
The average compensation at Riverfront Development Corporation Of Delaware during 2023 was $28,920. There are 41 employees at Riverfront Development Corporation Of Delaware.
Here are 23 key members and their salaries:
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- Compensation: $155,891
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- Other: $26,846
Official website here: www.riverfrontwilm.com
Where can I find the form 990 for Riverfront Development Corporation Of Delaware?
Riverfront Development Corporation Of Delaware's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.riverfrontwilm.com
Learn more at the official website: www.riverfrontwilm.com
Mission Statement of Riverfront Development Corporation Of Delaware
The Riverfront Development Corporation of Delaware is committed to fostering economic vitality along the Brandywine and Christina Rivers. Their mission encompasses enhancing the environment, encouraging historic preservation, and promoting community access. To achieve these objectives, they employ targeted and leveraged investments. This strategy aims to create employment opportunities and stimulate residential development. Furthermore, the corporation supports education, the arts, creation, and tourism, contributing to the overall growth and enrichment of the community. By executing this mission, the Riverfront Development Corporation of Delaware aims to improve the quality of life in the area and make it a more attractive and vibrant place for both residents and visitors.
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Impact
July, 2024
The Riverfront Development Corporation of Delaware has played a significant role in revitalizing the areas along the Brandywine and Christina Rivers. By creating economic vitality in previously neglected regions, the corporation has not only enhanced the environment but also encouraged historic preservation and promoted community access. Through targeted investments, the corporation has been able to generate employment opportunities and stimulate residential development. Additionally, the operation of a conference center by the corporation has attracted over 198,000 visitors annually, leading to the creation of more than 60 full-time jobs and seasonal positions. Overall, the impact of the Riverfront Development Corporation of Delaware can be seen in the transformation of the riverfront areas, fostering education, the arts, and tourism while contributing to the overall improvement of the community.
This information is meant to be a general summary of Riverfront Development Corporation Of Delaware. 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: -$37,804
- Program Service Revenue: $2,240,038
- Gross Receipts: $3,734,555
Assets and Liabilities:
- Total Assets: $155,880,628
- Total Liabilities: $25,490,598
- Net Assets: $130,390,030
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$735,269
FOOD AND BEVERAGE COMM
Revenue
$711,625
MINI GOLF REVENUE
Revenue
$210,426
PARKING INCOME
Revenue
$189,925
CONFERENCE CENTER INCO
Revenue
$182,122
Organization Details
Founding Year
1996
Phone
(302) 425-4890Principal Officer
Megan Mcglinchey
Main Address
815 JUSTISON STREET, WILMINGTON, DE, 19801
Website
www.riverfrontwilm.comNTEE Category
Code: S300 - Community improvement
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