Institute For Economic Development Inc, operating under the name Riverfront Alliance Of Delaware Coun, is located in Chester, PA. The organization was established in 1996. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverfront Alliance Of Delaware Coun 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 06/2022, Riverfront Alliance Of Delaware Coun generated $961.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $233.2k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMPLEMENT PROGRAMS TO PROMOTE THE DEVELOPMENT OF THE DELAWARE COUNTY WATERFRONT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING & NEIGHBORHOOD REVITALIZATIONIN PARTNERSHIP WITH THE CHESTER COMMUNITY IMPROVEMENT PROJECT (CCIP), RADC HAS BEEN WORKING ON A MIDDLE INCOME NEIGHBORHOOD STRATEGY TO STABILIZE BOTH THE NOVA VISTA AND IRVINGTON HILLS NEIGHBORHOODS. USING FUNDS FROM THE FOUNDATION FOR DELAWARE COUNTY, TD BANK CHARITABLE FOUNDATION, WSFS BANK THROUGH THE NEIGHBORHOOD ASSISTANCE PROGRAM (NAP) AND CAESAR'S FOUNDATION, EXTERIOR IMPROVEMENTS AND CAMERA INSTALLATION HAVE BEEN COMPLETED ON 33 HOMES IN THIS NEIGHBORHOOD. THIS INITIATIVE COMPLEMENTED THE CONSTRUCTION OF NEW HOMES AT ARBOR ESTATES LOCATED WITHIN THE NOVA VISTA NEIGHBORHOOD.CONTINUED ON SCHEDULE O.RADC AND CCIP HAVE ALSO RAISED FUNDING FOR A SIMILAR PROJECT IN THE AREA NEAR 9TH & CENTRAL AVENUE ON THE WEST END OF CHESTER. THIS AREA HAS A CORE OF HOMEOWNERS WHO WOULD BENEFIT FROM EXTERIOR REPAIRS. CCIP WAS AWARDED NAP TAX CREDITS AND RADC RECEIVED FUNDING FROM THE CAESARS FOUNDATION TO BEGIN WORK IN THIS NEW TARGET AREA.
ECONOMIC DEVELOPMENTWEST 2ND STREET (ROUTE 291) IMPROVEMENTS - CHESTER WATERFRONT TRAIL:RADC WAS AWARDED REGIONAL TRAILS FUNDS THROUGH THE DELAWARE VALLEY REGIONAL PLANNING COMMISSION FOR ENGINEERING DESIGN WORK ON WEST 2ND STREET FROM HIGHLAND AVENUE TO NORRIS STREET. RADC ISSUED A REQUEST FOR PROPOSALS AND AWARDED THE PROJECT TO MCMAHON ASSOCIATES. THE CONTRACT HAS BEEN EXECUTED, THE NOTICE TO PROCEED ISSUED AND THE KICK-OFF MEETING WAS HELD. CONTINUED ON SCHEDULE O.IN LATE 2021, RADC WAS AWARDED $750,000 IN WATERFRONT DEVELOPMENT TAX CREDITS FROM THE COMMONWEALTH THAT HAVE BEEN PURCHASED BY ONE OF OUR MEMBERS, POWER HOME REMODELING GROUP. THIS PROJECT, WHEN FULLY FUNDED, WILL INCLUDE PEDESTRIAN IMPROVEMENTS, DEVELOPMENT OF A MULTIUSE PATH CONNECTED PORTION TO THE EAST COAST GREENWAY, LANDSCAPING AND STORMWATER MANAGEMENT. EAST COAST GREENWAY - CONNECTOR STREETS:RADC, WORKING WITH THE PENNSYLVANIA ENVIRONMENTAL COUNCIL AND THE EAST COAST GREENWAY ALLIANCE, HAVE BEEN INVOLVED IN THE DESIGN OF THE HIGHLAND AVENUE CONNECTOR WITH AN ENGINEERING FIRM. DESIGN FUNDS HAVE ALSO BEEN AWARDED FOR THE NORRIS STREET CONNECTOR TRAIL ON THE EASTERN END OF THE TARGET AREA. ONCE CONSTRUCTED, THE HIGHLAND AND NORRIS CONNECTORS WILL ENABLE RESIDENTS TO SAFELY ACCESS THE HIGH QUALITY BUT DISCONNECTED CHESTER RIVERWALK, SUBARU PARK STADIUM AS WELL AS THE DELAWARE RIVER ITSELF.RADC ALSO COMPLETED THE GRANT APPLICATION ON BEHALF OF THE CITY OF CHESTER FOR FEDERAL FUNDING FOR THE CONSTRUCTION OF A COMPLETE STREETS PROJECT ON HIGHLAND AVENUE. THIS INITIATIVE WAS ONE OF 10 PROJECTS IN THE PHILADELPHIA REGION AWARDED FUNDING WHICH WILL INCLUDE THE DEVELOPMENT OF THE EAST COAST GREENWAY AND OTHER PEDESTRIAN IMPROVEMENTS. INITIAL DESIGN WORK IS ABOUT 30% COMPLETE AND THE COMMUNITY PARTICIPATION PIECE WILL START IN MID-APRIL WITH DOOR TO DOOR OUTREACH BY THE 9TH STREET YOUTH AND COMMUNITY CENTER. WATERFRONT STREETSCAPE PROJECTS:USING WATERFRONT DEVELOPMENT TAX CREDIT FUNDING, RADC COMPLETED THE DESIGN AND BIDDING OF THE FIRST PHASE OF THE STREETSCAPE ON THE UNIT AND 100 BLOCKS OF REANEY STREET. $500,000 IN TAX CREDITS WERE PURCHASED BY TWO RADC MEMBERS - POWER HOME REMODELING GROUP AND BRYN MAWR TRUST. WATERFRONT PROGRAMMING, COMMUNITY WORKDAYS & EVENTSIN LATE 2021, RADC IN CONJUNCTION WITH LOCAL COMMUNITY-BASED PARTNERS, AS WELL AS THE PARTNERSHIP FOR THE DELAWARE ESTUARY (PDE), PLANNED ITS FIRST DELAWARE RIVER FESTIVAL. THIS FESTIVAL HAS BEEN HELD IN PHILADELPHIA AND CAMDEN FOR A NUMBER OF YEARS AND PDE WANTED TO EXPAND IT TO CHESTER. RADC PLAYED A LARGE ROLE IN ORGANIZING AND RAISING FUNDS FOR THE EVENT THAT WAS HELD AT THE SUBARU PARK STADIUM PLAZA. WHILE THE EVENT HAD AN ENVIRONMENTAL FOCUS, IT ALSO INCLUDED VACCINATIONS, FOOD TRUCKS, LOCAL DANCE TROUPE PERFORMANCES AND A D.J. A TOUR OF THE STADIUM, A TRAINING EXERCISE BY THE POLICE AND FIRE DIVE TEAM AS WELL AS A GARDEN DEMONSTRATION BY THE PENNSYLVANIA HORTICULTURAL SOCIETY WERE HELD THROUGHOUT THE DAY.
PUBLIC SAFETYRADC RECOGNIZES THAT HAVING A SECURE ENVIRONMENT IN WHICH TO LIVE, WORK, AND RECREATE IS ESSENTIAL. RADC MAINTAINS A STANDING PUBLIC SAFETY COMMITTEE, CO-CHAIRED BY CHIEF JAMES NOLAN, FROM THE DELAWARE COUNTY DISTRICT ATTORNEY'S OFFICE, AND DAN MURPHY, OWNER OF MURPHY FORD, WHICH FUNCTIONS AS FOLLOWS:-REGULARLY CONVENES LAW ENFORCEMENT AGENCIES, PRIVATE CORPORATIONS, AND NON-PROFIT ORGANIZATIONS TO SHARE BEST PRACTICES AND COORDINATE EFFORTS;CONTINUED ON SCHEDULE O.-IDENTIFY GOVERNMENT, FOUNDATION, AND CORPORATE FINANCIAL AND HUMAN RESOURCES THAT CAN BE USED TO AUGMENT LOCAL RESOURCES. RADC AND ITS PARTNER ORGANIZATIONS USE FUNDS FOR ADDING SECURITY CAMERAS, LIGHTING AND IMPROVED STREETSCAPES IN HIGH CRIMES AREAS, ADDING MAN POWER AND PATROLS IN HIGH CRIMES AREAS, AND RESEARCHING AND RECOMMENDING BEST PRACTICES FOR REDUCING CRIMES IN HIGH CRIME AREAS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tom Shoemaker Chair/president | OfficerTrustee | 1 | $0 |
Tim Mcdermott Secretary | OfficerTrustee | 1 | $0 |
Gerald Miller Treasurer | OfficerTrustee | 1 | $0 |
Chris Albrecht Vice Chair/vice President | OfficerTrustee | 1 | $0 |
Sonia Butler Director | Trustee | 1 | $0 |
Vince Del Rossi Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Nbbj Llc Consulting | 6/29/21 | $234,242 |
Premiere Concrete Inc Road Repair | 6/29/21 | $205,600 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $855,292 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $855,292 |
Total Program Service Revenue | $104,600 |
Investment income | $1,098 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $960,990 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $4,570 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $61,108 |
Fees for services: Legal | $1,125 |
Fees for services: Accounting | $21,193 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $806 |
Advertising and promotion | $17,780 |
Office expenses | $277 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $432 |
Insurance | $2,638 |
All other expenses | $1,982 |
Total functional expenses | $233,213 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $278,039 |
Savings and temporary cash investments | $1,284,883 |
Pledges and grants receivable | $78,442 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $833 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,642,197 |
Accounts payable and accrued expenses | $66,632 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $66,632 |
Net assets without donor restrictions | $174,682 |
Net assets with donor restrictions | $1,400,883 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $1,642,197 |
Over the last fiscal year, Institute For Economic Development Inc has awarded $81,626 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
CITY OF CHESTER CITY HALL PURPOSE: SURVELLIANCE EQUIPMENT TO BE PLACE IN SUN VILLAGE NEIGHBORHOOD, CITY OF CHESTER. | $59,161 |
Chester, PA PURPOSE: SECURITY CAMERA EQUIPMENT TO BE PLACED ON WIDENER UNIVERSITY'S CAMPUS. PAID DIRECTLY TO PECO AND NEXTGEN SECUIRTY FOR THE SERVICES. | $22,465 |
Over the last fiscal year, we have identified 1 grants that Institute For Economic Development Inc has recieved totaling $50,000.
Awarding Organization | Amount |
---|---|
The Foundation For Delaware County Media, PA PURPOSE: CHESTER WATERFRONT DEVELOPMENT | $50,000 |
Organization Name | Assets | Revenue |
---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Calvert Impact Capital Inc Bethesda, MD | $679,643,317 | $23,234,500 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |