Reach Riverside Development Corporation
- Assets
- $31.8m
- Revenue
- $42.2m
- Investments
- $0.0
- Employees
- 16
- Location
- Wilmington, DE
- Founding
- 02/2018
- Data as of
- 12/2021
- EIN
- 82-1401986
Organization Overview
Reach Riverside Development Corporation is located in Wilmington, DE. The organization was established in 2018. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Reach Riverside Development Corporation employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reach Riverside Development 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 12/2021, Reach Riverside Development Corporation generated $42.2m in total revenue.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TRANSFORM NORTHEAST WILMINGTON'S HISTORIC RIVERSIDE INTO A HEALTHY, VIBRANT PLACE TO LIVE & THRIVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A MEMBER OF THE PURPOSE BUILT COMMUNITIES NETWORK, A NATIONALLY RENOWNED ORGANIZATION DEDICATED TO HOLISTIC COMMUNITY REDEVELOPMENT, REACH RIVERSIDE FOCUSES ON THE THREE PILLARS OF REVITALIZATION SHOWN TO HAVE THE GREATEST IMPACT ON LONG-TERM COMMUNITY HEALTH AND WELL-BEING.REDEVELOPMENT - REACH RIVERSIDE IS COMMITTED TO BUILDING APPROXIMATELY 600 UNITS OF HIGH-QUALITY, MIXED-INCOME HOUSING THAT WILL ELEVATE THE STANDARD OF LIVING FOR RIVERSIDE NEIGHBORHOOD RESIDENTS AND PROVIDE THE SAFE AND AFFORDABLE HOUSING RESIDENTS DESERVE. EDUCATION - ACCESS TO EXCELLENT EDUCATION IS A MUST FOR ANY PROSPEROUS COMMUNITY. THE REACH RIVERSIDE PROMISE IS TO DELIVER A HIGH-QUALITY EDUCATION PIPELINE FROM CRADLE TO COLLEGE TO ENSURE GROWTH AND ACHIEVEMENT AT EVERY LEVEL, ENHANCING OPPORTUNITIES FOR SUCCESSFUL FUTURES. COMMUNITY HEALTH - A HEALTHY COMMUNITY IS THE FOUNDATION OF A THRIVING COMMUNITY, AND THE REACH RIVERSIDE PROMISE INCLUDES THE CREATION OF A COMPREHENSIVE HEALTH, WELLNESS AND SAFETY PROGRAM TO MEET THE DIVERSE NEEDS OF THE RIVERSIDE RESIDENTS. FROM NEW SIDEWALKS AND PLAYGROUNDS, TO MENTAL HEALTH SUPPORT; FINANCIAL LITERACY; YOUTH ENGAGEMENT; AND A LOCAL GROCERY STORE, RESIDENTS WILL HAVE THE SUPPORT NEEDED FOR A HEALTHY LIFESTYLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Logan Herring Chief Executive Officer | Officer | 40 | $131,084 |
Kenyetta Mccurdy-Byrd Chief Operating Officer | Officer | 40 | $92,984 |
David Ford Chief Financial Strategist | Officer | 40 | $80,765 |
Charles S Mcdowell Board Chair | OfficerTrustee | 25 | $0 |
James Ray Rhodes Vice Chair | OfficerTrustee | 10 | $0 |
Perry Beberman Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $38,400,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,820,368 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,220,368 |
| Total Program Service Revenue | $0 |
| Investment income | $296 |
| 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 | $42,220,664 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $335,107 |
| Compensation of current officers, directors, key employees. | $100,532 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $256,482 |
| Pension plan accruals and contributions | $21,544 |
| Other employee benefits | $68,537 |
| Payroll taxes | $84,126 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,197 |
| Office expenses | $25,630 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,000 |
| Travel | $19,772 |
| 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 | $9,239 |
| Insurance | $4,241 |
| All other expenses | $63,437 |
| Total functional expenses | $15,356,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,303,943 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $27,377,616 |
| 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 | $64,834 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,020 |
| Total assets | $31,775,413 |
| Accounts payable and accrued expenses | $137,145 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,020 |
| Total liabilities | $303,165 |
| Net assets without donor restrictions | $3,424,832 |
| Net assets with donor restrictions | $28,047,416 |
| 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 | $31,775,413 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Reach Riverside Development Corporation has recieved totaling $779,340.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $500,000 |
The Carol A Ammon Foundation Albany, NY PURPOSE: GENERAL PURPOSE | $100,000 |
The Nemours Foundation Jacksonville, FL PURPOSE: Donation | $100,000 |
Welfare Foundation Inc Wilmington, DE PURPOSE: HURRICANE IDA RESPONSE FUND | $60,000 |
Annie E Casey Foundation Baltimore, MD PURPOSE: CHARITABLE CONTRIBUTION THROUGH THE MATCHING GIFTS PROGRAM | $10,000 |
Rockford Woodlawn Fund Inc Wilmington, DE PURPOSE: OPERATIONS | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
Viecare Beaver Llc Cranberry Township, PA | $43,089,373 | $46,860,704 |
Renewal Housing Inc North Bethesda, MD | $14,557,789 | $3,551,240 |
Columbus Property Management & Development Inc Philadelphia, PA | $30,446,777 | $36,581,885 |
Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
The Arc Morris County Chapter Nj Inc Morris Plains, NJ | $23,360,035 | $22,219,596 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |