Form 990 for tax year 2022
Filed by SCHUYLKILL RIVER DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $2,338,721
- Total expenses
- $3,069,841
- Contributions and grants received
- $2,242,303
- Grants paid
- $0
- Program service revenue
- $5,120
- Investment income
- $91,298
- Other revenue
- $0
- Total assets, end of year
- $9,714,516
- Total liabilities, end of year
- $854,538
- Net assets or fund balances, end of year
- $8,859,978
- Program services expenses (Part IX)
- $2,660,415
- Management and general expenses
- $225,999
- Fundraising expenses
- $183,427
- Program service expenses (Part III)
- $2,660,415
Program services were 86.7% 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.
-
1e · Government grants (contributions)
$1,548,463
-
1f · All other contributions, gifts and grants
$693,840
-
2a · Program service revenue: BOAT TOURS & OTHER
total $5,120 · related or exempt $5,120
-
3 · Investment income
total $91,298 · excluded $91,298
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $280,785 · program services $206,209 · management and general $44,047 · fundraising $30,529
-
7 · Other salaries and wages
total $283,307 · program services $208,061 · management and general $44,443 · fundraising $30,803
-
8 · Pension plan contributions
total $46,991 · program services $34,510 · management and general $7,372 · fundraising $5,109
-
9 · Other employee benefits
total $22,685 · program services $16,660 · management and general $3,559 · fundraising $2,466
-
10 · Payroll taxes
total $37,912 · program services $27,843 · management and general $5,947 · fundraising $4,122
-
11g · Fees: other
total $176,653 · program services $30,714 · management and general $46,501 · fundraising $99,438
-
16 · Occupancy
total $88,208 · program services $41,565 · management and general $42,025 · fundraising $4,618
-
22 · Depreciation, depletion and amortization
total $6,428 · program services $3,214 · management and general $2,893 · fundraising $321
-
23 · Insurance
total $19,930 · program services $9,965 · management and general $9,965
-
24a · Other expenses: CONST/SITE IMPROVEMENT
total $1,708,911 · program services $1,708,911
-
24b · Other expenses: CONSULTANTS/PLANNING
total $258,861 · program services $258,861
-
24c · Other expenses: PARK MAINTENANCE
total $88,492 · program services $88,492
-
24d · Other expenses: OTHER EXPENSES
total $31,599 · program services $6,331 · management and general $19,247 · fundraising $6,021
-
24e · All other expenses
total $19,079 · program services $19,079
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,662,488 · end of year $1,970,274
-
2 · Savings and temporary cash investments
beginning of year $3,693,181 · end of year $5,186,491
-
3 · Pledges and grants receivable
beginning of year $445,166 · end of year $800,816
-
9 · Prepaid expenses and deferred charges
beginning of year $39,492 · end of year $36,848
-
10a · Land, buildings and equipment: cost or other basis
$119,474
-
10b · Land, buildings and equipment: accumulated depreciation
$88,664
-
10c · Land, buildings and equipment, net
beginning of year $17,858 · end of year $30,810
-
11 · Investments: publicly traded securities
beginning of year $976,194 · end of year $1,087,115
-
15 · Other assets
beginning of year $0 · end of year $602,162
-
17 · Accounts payable and accrued expenses
beginning of year $122,686 · end of year $128,876
-
19 · Deferred revenue
beginning of year $203,529 · end of year $123,500
-
25 · Other liabilities
beginning of year $0 · end of year $602,162
-
27 · Net assets without donor restrictions
beginning of year $5,080,430 · end of year $5,387,134
-
28 · Net assets with donor restrictions
beginning of year $4,427,734 · end of year $3,472,844
Mission and programs · 2022
Mission
SRDC IS REVITALIZING PHILADELPHIA'S TIDAL SCHUYLKILL RIVER CORRIDOR INTO AN ASSET THAT CONNECTS NEIGHBORHOODS AND ENCOURAGES INVESTMENT. WORKING WITH THE CITY AND STAKEHOLDERS TO BUILD, MAINTAIN, AND PROGRAM SCHUYLKILL BANKS, SRDC DRIVES IMPROVEMENTS IN (CONTINUED ON SCH O) RECREATION AND TRANSPORTATION, COMMUNITY AND ECONOMIC DEVELOPMENT, PUBLIC HEALTH, AND ENVIRONMENTAL STEWARDSHIP, BENEFITING NEIGHBORS, PHILADELPHIA AND THE REGION.
Activities or mission (Part I)
REVITALIZE SCHUYLKILL RIVER CORRIDOR TO CONNECT NEIGHBORHOODS AND ENCOURAGE INVESTMENT.
-
CAPITAL PROJECTS - GOAL IS TO PROMOTE THE CREATION OF A PUBLIC PARK, TRAIL AND GREENWAY ALONG THE BANKS OF THE SCHUYLKILL TIDAL RIVER IN THE CITY OF PHILADELPHIA AND TO ASSIST IN THE UPKEEP OF SUCH PARK, THEREBY LESSENING THE BURDEN OF CITY GOVERNMENT AND PROMOTING ECONOMIC DEVELOPMENT OF ADJACENT LAND.
Expenses $2,552,844
-
MAINTENANCE PROGRAM - SRDC HAS AN AGREEMENT WITH PHILADELPHIA PARKS AND RECREATION TO SHARE MAINTENANCE RESPONSIBILITY FOR SCHUYLKILL BANKS. THIS PUBLIC-PRIVATE PARTNERSHIP LESSENS THE BURDEN ON GOVERNMENT AND INCREASES THE LEVEL OF UPKEEP ON SCHUYLKILL BANKS. THIS IN TURN MAKES THE SITE MORE ATTRACTIVE AND VALUABLE FROM A QUALITY OF LIFE STANDPOINT. MUCH OF THE WORK IS DONE BY VOLUNTEERS ESPECIALLY DURING THE SUMMER SEASON.
Expenses $88,492
-
COMMUNITY PROGRAMMING - ANOTHER SRDC GOAL IS TO ENLIVEN SCHUYLKILL BANKS AND STRENGTHEN NEIGHBORHOOD CONNECTIONS BY CREATING ATTRACTIONS AND DESTINATIONS ALONG THE TRAIL AND GREENWAY. THIS IS DONE PARTIALLY THROUGH PUBLIC PROGRAMMING, SUCH AS OUTDOOR MOVIES, RIVER TOURS AND OTHER SPECIAL EVENTS. THESE ACTIVITIES CREATE A DESIRE TO BE ON THE BANKS AND TO ENJOY THE AMENITIES PROVIDED.
Expenses $19,079 · Revenue $5,120
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Gerard H SweeneyGERARD H SWEENEY
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1.5
-
Brian KeechBRIAN KEECH
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Anne PapageorgeANNE PAPAGEORGE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Marc J ArmstrongMARC J ARMSTRONG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Madeline BellMADELINE BELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Jaclyn BlissJACLYN BLISS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael Carroll PEMICHAEL CARROLL PE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Scott CooperSCOTT COOPER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
David CuffDAVID CUFF
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Pasquale T DeonPASQUALE T DEON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Anne FadullonANNE FADULLON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Jennifer HannaJENNIFER HANNA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Edward Hazzouri EsqEDWARD HAZZOURI ESQ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Kenneth E LawrenceKENNETH E LAWRENCE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
M Elizabeth MagillM ELIZABETH MAGILL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Joseph McGinnJOSEPH MCGINN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Christin McMeleyCHRISTIN MCMELEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Anne NadolANNE NADOL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Robert Nix III EsqROBERT NIX III ESQ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Rodney J OglesbyRODNEY J OGLESBY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Kathryn Ott LovellKATHRYN OTT LOVELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Rebecca RhynhartREBECCA RHYNHART
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Jasmine E SessomsJASMINE E SESSOMS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
John WestrumJOHN WESTRUM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Joseph R SyrnickJOSEPH R SYRNICK
PRESIDENT/CEO
- Total calculated
- $261,132
- From this org
- $227,101
- From related orgs
- $0
- Other
- $34,031
- Hours/week
- 52
Schedule J breakdown matched by us
- Base
- $227,101
- Bonus
- $0
- Other
- $0
- Deferred
- $6,000
- Nontaxable benefits
- $28,031
- Filer's total
- $261,132
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
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 19 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202430799349300918
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