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Nonprofiteer
← DOWNTOWN RIVERFRONT TRUST

Form 990 for tax year 2022

Filed by DOWNTOWN RIVERFRONT TRUST.

Totals

Total revenue
$3,742,336
Total expenses
$3,979,303
Contributions and grants received
$3,641,668
Grants paid
$3,856,253
Program service revenue
$0
Investment income
$100,668
Other revenue
$0
Total assets, end of year
$78,147,504
Total liabilities, end of year
$77,606,639
Net assets or fund balances, end of year
$540,865
Program services expenses (Part IX)
$3,856,253
Management and general expenses
$123,050
Fundraising expenses
$0
Program service expenses (Part III)
$3,856,253

Program services were 96.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $3,641,668

  • 3 · Investment income

    total $100,668 · excluded $100,668

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,856,253 · program services $3,856,253

  • 11c · Fees: accounting

    total $9,535 · management and general $9,535

  • 11g · Fees: other

    total $100,000 · management and general $100,000

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $10,956 · management and general $10,956

  • 24b · Other expenses: BANK AND BROKER FEES

    total $2,559 · management and general $2,559

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $264 · end of year $1,436,306

  • 2 · Savings and temporary cash investments

    beginning of year $19,483,697

  • 3 · Pledges and grants receivable

    beginning of year $139,331,782 · end of year $76,711,198

  • 17 · Accounts payable and accrued expenses

    beginning of year $108,101 · end of year $108,079

  • 25 · Other liabilities

    beginning of year $157,929,810 · end of year $77,498,560

  • 28 · Net assets with donor restrictions

    beginning of year $777,832 · end of year $540,865

Mission and programs · 2022

Mission

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 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.

Activities or mission (Part I)

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.

  • 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 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.

    Expenses $3,856,253 · Grants $3,856,253

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kenneth Stinson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Rachel Jacobson

    PRESIDENT

    Total calculated
    $320,314
    From this org
    $0
    From related orgs
    $306,823
    Other
    $13,491
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,323 related
    Bonus
    $0 + $37,500 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $13,491 related
    Filer's total
    $0 + $320,314 related

  • Dan Waters

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mogens C Bay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • W Gary Gates

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Koraleski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Callahan

    TREASURER

    Total calculated
    $79,522
    From this org
    $0
    From related orgs
    $79,522
    Other
    $0
    Hours/week
    1 + 10 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
20 June 2023
IRS schema version
2022v5.0
Source object
202331799349300633

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