Overview
What is Downtown Riverfront Trust?
Downtown Riverfront Trust is a nonprofit organization situated in Omaha, Nebraska, with a mission to enhance the Missouri River waterfront in the metropolitan area for public benefit. In collaboration with local governmental agencies and private sector entities, the Trust assumes responsibility for planning, designing, and constructing a new Tri-Park complex on three City of Omaha-owned properties: Lewis and Clark Landing, Heartland of America Park, and Gene Leahy Mall. Their primary role involves securing private donations from the community to fund a portion of the development, while the Metropolitan Entertainment & Convention Authority (MECA) covers project expenses and manages the operation and maintenance of the complex. Due to this partnership, most funds raised by the Trust for this project are reported as grants and contributions payable to MECA.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%
Downtown Riverfront Trust has received a Three-Star out of Four Star rating from Charity Navigator, indicating solid performance in accountability and finance. The organization's strong governance structure is highlighted by its fully independent board, ensuring transparency and reliability in decision-making processes. Notably, they scored full points for their conflict of interest and whistleblower policies, reflecting a commitment to ethical practices.
Financially, the nonprofit demonstrates impressive efficiency, with a program expense ratio of 98.91%. This suggests that the vast majority of its funds are directed towards its programs rather than administrative costs. The organization has also maintained sound financial practices with no material diversions of assets reported, which adds to its credibility.
However, while the financial health appears strong, the executive salaries, particularly that of the president at $290,000, may raise questions among some donors regarding compensation levels in relation to nonprofit norms. Overall, the Downtown Riverfront Trust shows a commitment to accountability and effective use of funds, although there may be some concerns about salary structures within the leadership.
This AI summary has been generated from information found on Charity Navigator.
Is Downtown Riverfront Trust legitimate?
Downtown Riverfront Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Downtown Riverfront Trust 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Downtown Riverfront Trust?
The Downtown Riverfront Trust works in collaboration with governmental agencies and private sector entities to develop the Missouri River waterfront in a metropolitan area, primarily for the benefit and use of the general public. The organization has taken on the responsibility for planning, designing, and constructing the New Tri-Park Complex on three city-owned properties, namely Lewis and Clark Landing, Heartland of America Park, and Gene Leahy Mall. The Downtown Riverfront Trust secures private donations from the community to fund a portion of the development, with the Metropolitan Entertainment & Convention Authority (MECA) responsible for paying project expenses, activating, operating, and maintaining the development. The funds raised by the Downtown Riverfront Trust for this project are primarily shown as grants expense and contributions payable to MECA.
Who is the CEO of Downtown Riverfront Trust?
Rachel Jacobson is the President of Downtown Riverfront Trust.
What is the revenue of Downtown Riverfront Trust?
Downtown Riverfront Trust's revenue in 2022 was $3,742,336.
Who are the executives of Downtown Riverfront Trust and what are their salaries?
Here are 7 key members and their salaries:
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- Other: $0
- Compensation: $0
- Related: $306,823
- Other: $13,491
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $79,522
- Other: $0
Where can I find the form 990 for Downtown Riverfront Trust?
Downtown Riverfront Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Downtown Riverfront Trust
The Downtown Riverfront Trust, a collaborative entity, works in harmony with local governmental agencies and private sector entities, with a primary objective of enhancing the Missouri River waterfront in the metropolitan area for the benefit and use of the general public. To achieve this goal, the organization has assumed responsibility, in collaboration with the City of Omaha, the Metropolitan Entertainment & Convention Authority (MECA), and a Riverfront Revitalization Committee, for the planning, design, and construction of the New Tri-Park Complex. This development encompasses three City of Omaha-owned properties: Lewis and Clark Landing, Heartland of America Park, and Gene Leahy Mall.
Funding for this project is a collaborative effort. The Downtown Riverfront Trust secures donations from the community to contribute to the development, while MECA is responsible for covering project expenses and managing the activation, operation, and maintenance of the development. As a result of this partnership, a significant portion of the funds raised by the Downtown Riverfront Trust for this project are categorized as grants expenses and contributions payable to MECA. In essence, the Downtown Riverfront Trust is committed to revitalizing the Missouri River waterfront, leveraging partnerships and community contributions to create a beneficial space for the public.
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Impact
July, 2024
Downtown Riverfront Trust's impact can be seen in the transformation of the Missouri River waterfront in the metropolitan area, particularly in Omaha. By collaborating with governmental agencies and private sector entities, the organization has played a crucial role in the planning, design, and construction of the new Tri-Park complex, encompassing Lewis and Clark Landing, Heartland of America Park, and Gene Leahy Mall.
Through its efforts, Downtown Riverfront Trust has not only secured private donations from the community to fund this development but has also facilitated the activation, operation, and maintenance of the complex by the Metropolitan Entertainment & Convention Authority (MECA). This partnership has led to significant enhancements in the public spaces along the riverfront, benefiting the general public and improving the overall quality of life in the city. The organization's dedication to community improvement is evident in its collaborative approach and successful revitalization initiatives.
This information is meant to be a general summary of Downtown Riverfront Trust. 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: $100,668
- Gross Receipts: $3,742,336
Assets and Liabilities:
- Total Assets: $78,147,504
- Total Liabilities: $77,606,639
- Net Assets: $540,865
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Organization Details
Founding Year
2016
Phone
(402) 391-3190Principal Officer
Rachel Jacobson
Main Address
10050 REGENCY CIRCLE 101, OMAHA, NE, 68114
NTEE Category
Code: S12 - Community improvement
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