Delaware River Waterfront Corporation

Organization Overview

Delaware River Waterfront Corporation is located in Philadelphia, PA. The organization was established in 2009. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Delaware River Waterfront Corporation employed 186 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware River Waterfront Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Delaware River Waterfront Corporation generated $24.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $25.0m during the year ending 06/2021. While expenses have increased by 2.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

DRWC'S MISSION IS TO MAINTAIN AND PROMOTE THE USE AND DEVELOPMENT OFTHE CITY OF PHILADELPHIA'S CENTRAL WATERFRONT. THIS TASK IS OF VITALIMPORTANCE TO THE CITY AND ONE WHICH THE CITY WOULD OTHERWISE BEREQUIRED TO PERFORM ITSELF ABSENT THE DRWC.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DRWC IS DEDICATED TO THE PLANNING, DESIGN, DEVELOPMENT AND MANAGEMENTOF THE CENTRAL DELAWARE RIVER WATERFRONT IN PHILADELPHIA, DEFINED ASTHE SIX MILE STRETCH OF THE CENTRAL DELAWARE, WHICH IS THE AREA DEFINEDBY OREGON AVENUE IN THE SOUTH OF ALLEGHENY AVENUE IN THE NORTH AND FROMI-95 TO THE DELAWARE RIVER. THE GOAL OF DRWC IS TO EFFECTUATE OVER TIMETHE TRANSFORMATION OF THE CENTRAL DELAWARE RIVER WATERFRONT INTO AVIBRANT DESTINATION LOCATION FOR THE RECREATIONAL, CULTURAL,PORT/INDUSTRIAL, AND COMMERCIAL ACTIVITIES OF PHILADELPHIA'S RESIDENTS,WORKERS AND VISITORS.


DRWC REMAINS STEADFAST IN ITS COMMITMENT TO FREE PUBLIC PROGRAMMING ON THE WATERFRONT AT PENN'S LANDING. ALL EVENTS PRODUCED BY DRWC ARE FREE TO THE PUBLIC. THE RIVER STAGE HOSTED A VARIETY OF NATIONAL ARTISTS IN THE ROCK, JAZZ, GOSPEL AND CLASSICAL GENRES AND ALSO WAS ABLE TOACCOMMODATE THE FULL PHILADELPHIA ORCHESTRA. PENN'S LANDING CONTINUES TO SERVE AS A FEATURED LOCATION FOR THE CITY'S INDEPENDENCE DAY CELEBRATION, HOSTING HIGH PROFILE WATERFRONT CONCERT WITH FIREWORKS. THE SUMMER PROGRAM SEASON INCLUDED DIFFERENT MULTICULTURAL SERIES CELEBRATING THE RICH DIVERSITY OF THE GREATER PHILADELPHIA REGION, MARQUEE CONCERTS FEATURING FAMILY ENTERTAINMENT, THE SOUNDS OF R&B AND JAZZ.


DRWC ENGAGES IN A VARIETY OF ACTIVITIES IN SUPPORT OF ITS MISSION, ON BEHALF OF THE CITY, OF MAINTAINING AND PROMOTING THE USE AND DEVELOPMENT OF CITY'S CENTRAL WATERFRONT, WHICH INCLUDES "BLUE CROSS RIVER RINK" AT PENN'S LANDING. IT IS A STANDARD OLYMPIC REGULATION SIZEICE RINK, DURING WINTER AND TURNED INTO A ROLLER SKATING RINK IN THE SUMMER, OPEN TO THE PUBLIC AS A RECREATIONAL AND EDUCATIONAL ARENA. SLED SKATING LESSONS ARE AVAILABLE FOR DISABLED CHILDREN. THE RINK IS OPEN FOR PUBLIC SKATING AND AVAILABLE TO SCHOOL GROUPS ON WEEKDAYS. THEOPERATION OF THESE SKATING RINKS RELIEVES THE CITY FROM HAVING TO OPERATE THE PUBLIC ARENA, WHICH IT WOULD OTHERWISE DO FOR THE GENERAL WELFARE OF ITS CITIZENS, INCLUDING THE MULTITUDE OF YOUNGER PEOPLE UTILIZING THIS FACILITY.


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Board, Officers & Key Employees

Name (title)Compensation
Joseph Forkin
President
$211,462
Jodie Milman
Executive Vice President
$170,286
Lavelle Young
Vice President, Operations
$109,324
Rinku Modi
Vice President, Finance &
$104,082
Alan P Hoffmann
Board Chairman
$0
Jay R Goldstein
Board Vice Chairman
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ap Construction Inc
Construction
$5,738,799
Scungio Borst And Associates
Construction
$2,346,848
James J Anderson Construction
Construction
$1,046,901
Waterview Developers Llc
Realestate Developer
$842,903
Hydro- Marine Construction Co
Construction
$507,904
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $15,600,197
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$15,600,197
Total Program Service Revenue$8,009,882
Investment income $369,660
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $158,821
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $24,883,136

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Delaware River Waterfront Corporation has recieved totaling $14,080,250.

Awarding OrganizationAmount
William Penn Foundation

Philadelphia, PA

PURPOSE: CONSTRUCTION OF PENN'S LANDING PARK

$14,000,000
Rails To Trails Conservancy

Washington, DC

PURPOSE: TRAIL DEVELOPMENT

$50,000
Kurtz Family Foundation

Philadelphia, PA

PURPOSE: PROMOTE NEIGHBORHOOD REVITALIZATION

$10,000
Philadelphia Industrial Development Corp

Philadelphia, PA

PURPOSE: CONDUIT GRANTS

$7,750
$7,500
Joseph Robert Foundation Inc

Philadelphia, PA

PURPOSE: GENERAL

$5,000
View Grant Recipient Profile

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