Rivercity Company is located in Chattanooga, TN. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Rivercity Company employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rivercity Company 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 06/2023, Rivercity Company generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.1m during the year ending 06/2023. While expenses have increased by 0.3% per year over the past 8 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.
Since 2015, Rivercity Company has awarded 33 individual grants totaling $618,070. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE RIVERCITY COMPANY'S MISSION IS TO ASSIST AND SUPPORT THE CHATTANOOGA CITY AND HAMILTON COUNTY GOVERNMENTS BY PROMOTING AND MANAGING THE DEVELOPMENT OF A VIBRANT, ATTRACTIVE AND HEALTHY DOWNTOWN THAT IS THE ECONOMIC, SOCIAL AND CULTURAL CENTERPIECE OF THE CHATTANOOGA REGION. THE RIVERCITY COMPANY ACCOMPLISHES THIS BY OVERSEEING DEVELOPMENT OF DOWNTOWN REAL ESTATE, MAKING AND PROGRAMMING GREAT URBAN SPACES, AND EMPLOYING CREATIVE URBAN DESIGN. ITS PRIMARY STRATEGIC AREAS FOR PROJECTS AND INITIATIVES ARE: (I)CONTINUING THE ONE RIVERFRONT PLAN IN THE RIVERFRONT DISTRICT, (II)REINVIGORATING THE HISTORIC COMMERCIAL CORE IN THE CITY CENTER DISTRICT, AND (III)BRINGING MORE RESIDENTS TO ALL AREAS OF DOWNTOWN THROUGH CATALYZING A FULL RANGE OF DOWNTOWN HOUSING.
Describe the Organization's Program Activity:
REIMAGINING BROAD STREET: RIVERCITY ALONG WITH THE CITY EMBARKED ON A COMPREHENSIVE AND VISIONARY PLAN FOR BROAD STREET IN DOWNTOWN CHATTANOOGA. THE PLAN IS A DETAILED BLOCK-BY-BLOCK URBAN DESIGN ANALYSIS THAT WILL ADDRESS THE PUBLIC REALM IMPROVEMENTS, MULTI- MODAL TRANSPORTATION ENHANCEMENTS, INTEGRATE TECHNOLOGY, GREEN INFRASTRUCTURE, PARKING, ECONOMIC DEVELOPMENT OPPORTUNITIES, ALL WHILE SUPPORTING EXISTING BUSINESSES AND URBAN RESIDENTS.
EVOLVING OUR RIVERFRONT PARKS: THE FIRST PHASE OF THE ONE RIVERFRONT PLAN IS TO HUMANIZE THE PARKS AND GREEN SPACE ON THE RIVERFRONT. BUILDING UPON THE LEGACY AND DESIGN OF THE 21ST CENTURY WATERFRONT, WE WILL EVOLVE AND ENHANCE OUR RIVERFRONT PARKS FOR RESIDENTS AND VISITORS TO EXPERIENCE AND ENJOY BEAUTIFUL, COMFORTABLE AND EXCITING PARK SPACES.FUTURE OF HAWK HILL: WITH THE ANTICIPATED RELOCATION OF THE CHATTANOOGA LOOKOUTS BASEBALL TEAM FROM AT&T FIELD TO THE U.S. PIPE & WHELAND FOUNDRY SITE, HAWK HILL WILL BECOME AVAILABLE FOR REDEVELOPMENT. PER THE LAND TRANSFER AGREEMENT WITH THE CITY OF CHATTANOOGA, THE CURRENT STADIUM WILL BE DEMOLISHED ONCE THE CHATTANOOGA LOOKOUTS HAVE RELOCATED TO THE NEW STADIUM. RIVERCITY COMPANY ALONG WITH THE CITY, COMMUNITY INPUT, URBAN PLANNERS AND DOWNTOWN STAKEHOLDERS TO ASSIST IN DEVELOPING A COMPREHENSIVE, LONG-TERM VISION FOR THE SITE TO GUIDE FUTURE REDEVELOPMENT. WITH THIS INFORMATION, RIVERCITY COMPANY WILL EXPLORE POTENTIAL LAND USES, DENSITY, PUBLIC SPACES, CONNECTIVITY, AND THE NECESSARY INFRASTRUCTURE TO SUPPORT FUTURE REDEVELOPMENT.STRATEGIC MARKET ANALYSIS: RIVERCITY COMPANY ENGAGED RCLCO FOR A COMPREHENSIVE MARKET ANALYSIS TO ASSESS THE MARKET OPPORTUNITIES FOR RESIDENTIAL OFFICE, RETAIL AND HOTEL DEVELOPMENT IN GREATER DOWNTOWN TO INCLUDE ANALYSIS FOR TARGET MARKETS, MARKET DEMAND, MARKET POTENTIAL AND MARKET EVOLUTION.ECONOMIC DEVELOPMENT TOOLKIT: RIVERCITY COMPANY PARTNERED WITH CNE AND THE CHATTANOOGA AREA CHAMBER TO HELP DOWNTOWN BUSINESSES UNDERSTAND THE DIFFERENT TYPES OF FUNDING AVAILABLE. COMMUNITY AND ECONOMIC DEVELOPMENT TOOLS INCLUDE A VARIETY OF FEDERAL, STATE AND LOCAL AID AND FUNDS THAT CAN BE USED TO HELP IMPLEMENT A SPECIFIC PROJECT. DIFFERENT TOOLS OF FUNDING CONSIST OF GRANTS, LOANS, BONDS, FUNDS, ABATEMENTS AND TAX CREDITS.GRATEFULL: GRATEFULL IS FREE AND ALL ARE WELCOME TO JOIN TOGETHER FOR A THANKSGIVING MEAL IN THE MIDDLE OF MARTIN LUTHER KING BLVD. THERE IS NO FEE, NO EXPECTATIONS, AND NO AGENDA-JUST AN OPEN INVITATION FOR ALL TO GATHER IN THE CITY FOR A TIME OF THANKSGIVING AND GRATEFULNESS.POPS IN THE PARK: RIVERCITY COMPANY PARTNERED WITH THE CITY OF CHATTANOOGA AND CHATTANOOGA PRESENTS TO BRING BACK POPS IN THE PARK, CHATTANOOGA'S ANNUAL INDEPENDENCE DAY CELEBRATION. THE BELOVED EVENT IS FREE AND OPEN TO THE PUBLIC TO ENJOY LIVE MUSIC FROM THE CHATTANOOGA SYMPHONY & OPERA ALONG WITH A FIREWORKS SHOW OVER THE TENNESSEE RIVER.MILLER PLAZA: MILLER PLAZA IS AN URBAN PUBLIC PARK CONSTRUCTED ALMOST THREE DECADES AGO IN THE HEART OF DOWNTOWN CHATTANOOGA; IT WAS BUILT BOTH TO PROVIDE A MODEL OF GOOD URBAN DESIGN FOR "ACTIVE PARK USE", AND TO PROVIDE A VENUE FOR AN ENORMOUS VARIETY OF ANIMATING ACTIVITIES FOR DOWNTOWN. WHEN IT WAS CONSTRUCTED, DOWNTOWN CHATTANOOGA WAS SLIDING DOWNHILL WITH ABANDONED RETAIL STORES, CLOSED MOVIE THEATERS, OFFICES AND RESIDENCES RELOCATING TO OUTLYING SUBURBAN AREAS, AND A VACUUM OF ATTRACTIVE ACTIVITY AND ANIMATION, ESPECIALLY AFTER WORK HOURS ENDED. MILLER PLAZA WAS THE FIRST BEACON FOR THE REVIVAL OF DOWNTOWN CHATTANOOGA, AND MILLER PLAZA NOW SERVES AS THE HOME FOR THREE RESTAURANTS AND ONE RETAIL SHOP, SEASONAL FRIDAY NIGHT CONCERT SERIES FROM MEMORIAL DAY TO LABOR DAY, AND A VENUE FOR MANY DOZENS OF CIVIC GATHERINGS AND ACTIVITIES. MILLER PLAZA IS OWNED BY THE RIVERCITY COMPANY AND IT CONTINUES TO PROVIDE THE SOCIAL ANCHOR FOR EVENTS AND ANIMATION WITHIN THE CITY CENTER DISTRICT OF DOWNTOWN CHATTANOOGA.MLK COMMERCIAL CORRIDOR IS AN INITIATIVE INTENDED TO INVIGORATE AND ACCELERATE THE REVITALIZATION OF THE MLK DISTRICT BY ACQUIRING KEY PROPERTIES TO HELP DEVELOPMENT AND DENSITY, PROVIDING SIGNAGE AND FACADE GRANTS TO TENANTS/OWNERS WHILE INSTILLING AND REQUIRING QUALITY URBAN DESIGN PRINCIPLES, AND ASSISTANCE WITH RETAIL AND COMMERCIAL RECRUITMENT EFFORTS TO HELP LURE BUSINESSES.
ROCK THE RIVERFRONT: TO RESPOND TO THE FEEDBACK AND DESIRES OF THE COMMUNITY PROVIDED THROUGH THE ONE RIVERFRONT PLAN, THE RIVERCITY COMPANY TEAM CREATED "ROCK THE RIVERFRONT", A MONTH-LONG CELEBRATION OF CULTURE, ENTERTAINMENT AND PLAY FOR ALL TO ENJOY ON THE CHATTANOOGA GREEN. ROCK THE RIVERFRONT'S MAIN ATTRACTION WAS LOS TROMPOS, INTERACTIVE SPINNING TOPS FOR ALL AGES TO ENJOY. OTHER EVENTS INCLUDED DJS EVERY FRIDAY, LIVE MUSIC ON SATURDAYS, WEEKEND LOCAL POP UP VENDORS, LIGHT UP CHATT LANTERN PARADE, AND SIPS OF LATIN AMERICA.
DOWNTOWN ANIMATION: RIVERCITY BUILT OFF THE SUCCESS OF DOWNTOWN ANIMATION FROM THE PAST TWO YEARS WITH A ROBUST CALENDAR OF ACTIVITIES AND EVENTS FOR 2022/2023. EVENTS AND PROGRAMS INCLUDES; ST PADDY'S ON THE PARKWAY, ICE CREAM CRAWL, SUMMERWEEN, MUSIC & MOVIES IN MILLER, FAMILY FUN DAY ON THE GREEN, WITCH & WARLOCK PADDLE, REINDEER ON THE RIVERFRONT AND WINTER BREAK SPECTACULAR.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jennifer Goodman Chairwoman | OfficerTrustee | 1 | $0 |
Andrew Kean Vice Chairman And Treasurer | OfficerTrustee | 1 | $0 |
Dana Perry Secretary | OfficerTrustee | 1 | $0 |
Tom Griscom Past Chairman | OfficerTrustee | 1 | $0 |
Martha Leiper Vice President | OfficerTrustee | 1 | $0 |
Alnoor Dhanani Vice President | OfficerTrustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Dover Kohl And Partners Consulting Services | 6/29/23 | $130,819 |
Robert Charles Lesser & Co Consulting Services | 6/29/23 | $127,177 |
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 | $272,575 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $272,575 |
Total Program Service Revenue | $198,729 |
Investment income | $117,924 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $1,699,632 |
Net Gain/Loss on Asset Sales | $34,332 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,411,061 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $362,027 |
Compensation of current officers, directors, key employees. | $65,165 |
Compensation to disqualified persons | $435,543 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $9,036 |
Fees for services: Accounting | $69,410 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $462,817 |
Advertising and promotion | $7,936 |
Office expenses | $0 |
Information technology | $32,363 |
Royalties | $0 |
Occupancy | $77,599 |
Travel | $1,576 |
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 | $47,863 |
Insurance | $39,054 |
All other expenses | $269,256 |
Total functional expenses | $2,078,117 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $2,635,327 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $136,406 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $106,216 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $23,537 |
Net Land, buildings, and equipment | $18,149,146 |
Investments—publicly traded securities | $0 |
Investments—other securities | $3,285,671 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $255,290 |
Total assets | $24,591,593 |
Accounts payable and accrued expenses | $316,225 |
Grants payable | $0 |
Deferred revenue | $81,056 |
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 | $93,727 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $193,343 |
Total liabilities | $684,351 |
Net assets without donor restrictions | $23,474,009 |
Net assets with donor restrictions | $433,233 |
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 | $24,591,593 |
Over the last fiscal year, Rivercity Company has awarded $69,685 in support to 6 organizations.
Grant Recipient | Amount |
---|---|
CITY OF CHATTANOOGA PURPOSE: SPROUTS PROGRAM | $5,685 |
BLEU FOX SPECIALTIES LLC PURPOSE: SPROUTS PROGRAM | $6,000 |
GLASS HOUSE COLLECTIVE PURPOSE: SPROUTS PROGRAM | $6,000 |
LINK & CURE LLC PURPOSE: SPROUTS PROGRAM | $6,000 |
PICKLE BARREL LLC PURPOSE: SPROUTS PROGRAM | $6,000 |
PROOF PURPOSE: MLK PROJECT | $40,000 |