Downtown Riverfront Trust
- Assets
- $158.8m
- Revenue
- $28.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Omaha, NE
- Founding
- 03/2017
- Data as of
- 12/2021
- EIN
- 81-4619812
Organization Overview
Downtown Riverfront Trust is located in Omaha, NE. The organization was established in 2017. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, 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. Downtown Riverfront Trust 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 12/2021, Downtown Riverfront Trust generated $28.9m in total revenue. All expenses for the organization totaled $29.0m during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE ORGANIZATION IS TO WORK, IN CONJUNCTION WITH GOVERNMENTAL AGENCIES OF THE CITIES OF OMAHA AND COUNCIL BLUFFS, AS WELL AS PRIVATE SECTOR ENTITIES, TO DEVELOP THE MISSOURI RIVER WATERFRONT IN THE METROPOLITAN AREA FOR THE BENEFIT AND USE OF THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNTOWN RIVERFRONT TRUST, IN COLLABORATION WITH THE CITY OF OMAHA, THE METROPOLITAN ENTERTAINMENT & CONVENTION AUTHORITY (MECA) AND A RIVERFRONT REVITALIZATION COMMITTEE HAVE ASSUMED RESPONSIBILITY FOR THE PLANNING, DESIGN AND CONSTRUCTION OF THE A NEW TRI-PARK COMPLEX ON THREE CITY OF OMAHA OWNED PROPERTIES CURRENTLY REFERRED TO AS LEWIS AND CLARK LANDING, HEARTLAND OF AMERICA PARK AND GENE LEAHY MALL. DRT IS RESPONSIBLE FOR SECURING PRIVATE DONATIONS FROM THE COMMUNITY TO FUND A PORTION OF THE DEVELOPMENT. MECA IS RESPONSIBLE FOR PAYING PROJECT EXPENSES AS WELL AS ACTIVATING, OPERATING AND MAINTAINING THE DEVELOPMENT. DUE TO THIS RELATIONSHIP, ALMOST ALL FUNDS RAISED BY DRT RELATING TO THIS PROJECT ARE SHOWN AS A GRANTS EXPENSE AND CONTRIBUTIONS PAYABLE TO MECA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Jacobson President | OfficerTrustee | 1 | $0 |
Kenneth Stinson Chairman | OfficerTrustee | 5 | $0 |
Jennifer Callahan Treasurer | Officer | 1 | $0 |
Dan Waters Secretary | Officer | 1 | $0 |
Jack Koraleski Director | Trustee | 1 | $0 |
Mogens C Bay Director | Trustee | 5 | $0 |
Financial Statements
| 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 | $28,894,329 |
| Noncash contributions included in lines 1a–1f | $10,057,923 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,894,329 |
| Total Program Service Revenue | $0 |
| Investment income | $621 |
| 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 | $28,894,950 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $28,895,881 |
| 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. | $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 | $0 |
| Fees for services: Legal | $1,938 |
| Fees for services: Accounting | $8,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100,000 |
| Advertising and promotion | $0 |
| Office expenses | $516 |
| 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 | $0 |
| Insurance | $6,803 |
| All other expenses | $2,523 |
| Total functional expenses | $29,016,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264 |
| Savings and temporary cash investments | $19,483,697 |
| Pledges and grants receivable | $139,331,782 |
| 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 | $0 |
| 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 | $158,815,743 |
| Accounts payable and accrued expenses | $108,101 |
| 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 | $157,929,810 |
| Total liabilities | $158,037,911 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $777,832 |
| 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 | $158,815,743 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Downtown Riverfront Trust has recieved totaling $50,117,924.
| Awarding Organization | Amount |
|---|---|
Sherwood Foundation Omaha, NE PURPOSE: RIVERFRONT REVITALIZATION PLAN - ADDITIONAL FUNDS | $10,057,924 |
Robert B Daugherty Foundation Omaha, NE PURPOSE: CAPITAL PROJECT | $10,000,000 |
Robert B Daugherty Foundation Omaha, NE PURPOSE: CAPITAL PROJECT | $10,000,000 |
Peter Kiewit Foundation Omaha, NE PURPOSE: TO PROVIDE CAPITAL SUPPORT FOR THE RIVERFRONT REVITALIZATION INITIATIVE - OMAHA TRI-PARK COMPLEX PROJECT. | $10,000,000 |
Walter Scott Family Foundation Omaha, NE PURPOSE: CAPITAL CAMPAIGN | $5,000,000 |
Union Pacific Foundation Omaha, NE PURPOSE: FUTURE COMMITMENTS | $3,500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Downtown Riverfront Trust Omaha, NE | $158,815,743 | $28,894,950 |
Missouri River Historical Develop- Ment Inc Sioux City, IA | $5,283,123 | $4,260,184 |
Mid-America Regional Council Community Services Corporation Kansas City, MO | $2,213,477 | $3,497,916 |
Lions Eye Bank Of Nebraska Inc Omaha, NE | $1,294,496 | $1,516,053 |
Generating Income For Tomorrow Kansas City, MO | $295,787 | $1,133,745 |
Kc Air Show Charities Inc Kansas City, MO | $68,342 | $938,134 |
Michael E Portzen And Sara A Portzen Family Foundation Peosta, IA | $2,370,924 | $1,197,691 |
Heart Of America Redistribution Solutions And Support Sedalia, MO | $435,050 | $1,090,030 |
Karma House Inc Lakewood, CO | $116,676 | $590,257 |
Community Betterment Organization Pella, IA | $2,432,406 | $1,698,245 |
Ndn Fund Rapid City, SD | $6,707,836 | $217,223 |
Central Iowa Housing Trust Fund Des Moines, IA | $344,976 | $398,757 |