Civic Intelligence

Detroit Riverfront Conservancy Inc.

990 • Fiscal year 2017 • EIN 30-0125283

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 11, 2018

600 Renaissance Center No 1720Detroit, MI 48243-1802

(313) 566-8200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

10th percentile

0.06x

Higher debt load relative to revenue than 10% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

3rd percentile

-61%

Higher net margin than 3% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

25th percentile

$289,812

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

14th percentile

-2.5%

Faster asset growth than 14% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

96th percentile

152%

Faster revenue growth than 96% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Down

$109,409,437

Down $2,766,549 (-2.5%) from 2016

Net Assets

Down

$109,070,467

Down $2,232,509 (-2.0%) from 2016

Liabilities

Down

$338,970

Down $534,040 (-61%) from 2016

Revenue

Up

$5,229,040

Up $3,156,487 (+152%) from 2016

Expenses

Up

$8,432,138

Up $24,058 (+0.3%) from 2016

Net Income

Up

-$3,203,098

Up $3,132,429 (+49%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2015: $117,523,009Liabilities 2015: $338,172Net Assets 2015: $117,184,8372015Assets 2016: $112,175,986Liabilities 2016: $873,010Net Assets 2016: $111,302,9762016Assets 2017: $109,409,437Liabilities 2017: $338,970Net Assets 2017: $109,070,4672017Assets 2018: $118,992,060Liabilities 2018: $2,061,182Net Assets 2018: $116,930,8782018Assets 2019: $140,589,951Liabilities 2019: $3,368,412Net Assets 2019: $137,221,5392019Assets 2020: $154,630,831Liabilities 2020: $1,191,442Net Assets 2020: $153,439,3892020Assets 2021: $162,240,177Liabilities 2021: $1,551,600Net Assets 2021: $160,688,5772021Assets 2022: $175,179,215Liabilities 2022: $5,756,247Net Assets 2022: $169,422,9682022Assets 2023: $213,202,987Liabilities 2023: $7,762,427Net Assets 2023: $205,440,5602023Assets 2024: $194,281,766Liabilities 2024: $30,324,452Net Assets 2024: $163,957,3142024

Highlighted filing

2017

Assets$109,409,437
Liabilities$338,970
Net Assets$109,070,467

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MRevenue 2015: $4,989,126Expenses 2015: $6,747,263Net Income 2015: -$1,758,1372015Revenue 2016: $2,072,553Expenses 2016: $8,408,080Net Income 2016: -$6,335,5272016Revenue 2017: $5,229,040Expenses 2017: $8,432,138Net Income 2017: -$3,203,0982017Revenue 2018: $19,624,756Expenses 2018: $10,582,111Net Income 2018: $9,042,6452018Revenue 2019: $31,442,976Expenses 2019: $12,213,667Net Income 2019: $19,229,3092019Revenue 2020: $25,703,268Expenses 2020: $10,462,626Net Income 2020: $15,240,6422020Revenue 2021: $18,294,537Expenses 2021: $11,974,753Net Income 2021: $6,319,7842021Revenue 2022: $25,031,272Expenses 2022: $15,286,976Net Income 2022: $9,744,2962022Revenue 2023: $52,090,326Expenses 2023: $16,942,133Net Income 2023: $35,148,1932023Revenue 2024: $38,859,268Expenses 2024: $11,967,902Net Income 2024: $26,891,3662024

Highlighted filing

2017

Revenue$5,229,040
Expenses$8,432,138
Net Income-$3,203,098
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 11, 2018
Return Version
2017v2.3
Gross Receipts
$9,444,344
Mission and Program Overview

Mission

To undertake the establishment, improvement, operations, maintenance, and conservation of public parks, the detroit riverwalk, and other public green space along the detroit international riverfront for the recreation and enjoyment of the general public in perpetuity.

To undertake the establishment, improvement, operations, maintenance, and conservation of public parks, promenades, and other public green space along the detroit international riverfront for the recreation and enjoyment of the general public in perpetuity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$47,828,195$50,718,527▲ $2,890,332
Savings and Temporary Cash Investments$1,367$8,478,391▲ $8,477,024
Investments Other Securities$17,263,647$5,096,097▼ $12,167,550
Cash and Non-Interest-Bearing Accounts$511,089$2,490,294▲ $1,979,205
Investments in Publicly Traded Securities$4,968,785$1,251,686▼ $3,717,099
Pledges and Grants Receivable$95,351$158,670▲ $63,319
Accounts Receivable$317,178$47,093▼ $270,085
Prepaid Expenses and Deferred Charges$32,589$21,162▼ $11,427
Total Assets$112,175,986$109,409,437▼ $2,766,549
Other Assets Total$41,157,785$41,147,517▼ $10,268
Liabilities
Accounts Payable and Accrued Expenses$873,010$338,970▼ $534,040
Total Liabilities$873,010$338,970▼ $534,040
Net Assets / Fund Balance
Unrestricted Net Assets$106,446,591$101,067,207▼ $5,379,384
Temporarily Rstr Net Assets$1,856,385$5,003,260▲ $3,146,875
Permanently Rstr Net Assets$3,000,000$3,000,000→ $0
Total Net Assets Fund Balance$111,302,976$109,070,467▼ $2,232,509
Total Liabilities and Net Assets / Fund Balance$112,175,986$109,409,437▼ $2,766,549

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$50,686,274$4,547,406$55,233,680
Equipment$32,253$225,730$257,983
Other Assets Org$41,138,961--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$17,563,247-▲ $1,268,681-$14,417,611
2016$25,134,201-▲ $279,786-$17,563,247
2015$32,018,778-▼ $456,550-$25,134,201
2014$38,455,201-▼ $108,074-$32,018,778
2013$26,895,645$8,000,000▲ $3,855,438-$38,455,201
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark C WallacePresident and C.e.o.FT$243,400$46,412$289,812
William SmithChief Financial OfficerFT$143,975$31,570$175,545

Highest Paid Contractors

ContractorServicesLocationCompensation
Michigan Department Of TransportationConstructionPO BOX 30648, Lansing, MI 48909$3,187,559
Eagle Security Services LLCSecurity500 GRISWOLD SUITE 300, Detroit, MI 48226$1,605,430
Brightview Landscapes LLCLandscaping Services3630 SOLUTIONS CENTER, Chicago, IL 60677$593,926
Downtown Detroit PartnershipCleaning1 CAMPUS MARTIUS SUITE 380, Detroit, MI 48226$568,929
Jonathan Witz & AssociatesEvent Project Management301 WEST 4TH STREET SUITE LL-150, Royal Oak, MI 48067$511,786
Revenue and Support

Revenue Composition

Contributions and Grants
$5,040,651
Program Service Revenue
$0
Investment Income
$353,784
Other Revenue
$-165,395
All Other Contributions
$4,483,934
Change in Net Assets
$-3,203,098

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$198,875Cost
Total Noncash Contributions1$198,875-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,229,040
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,350,815
Total Revenue per Audited Statements
$6,579,855
Total Revenue per Form 990
$5,229,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,893,829
Total Fundraising Expense$1,796,079
Salaries, Compensation, and Employee Benefits$1,281,096
Professional Fundraising Fees$257,213
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$667,729$274,118$71,683$1,013,530
Depreciation Depletion$564,864$17,653-$582,517
Other Salaries and Wages$176,362$247,159$151,164$574,685
Current Officers, Directors, Trustees, and Key Employees$118,880$166,600$101,895$387,375
Fees for Services Accounting$156,692$64,326$77,180$298,198
Fees for Services Professional Fundraising--$257,213$257,213
Other Employee Benefits$73,223$122,039$48,816$244,078
Office Expenses$1,099$213,807-$214,906
Occupancy-$138,100-$138,100
Other Expenses$3,266,344-$126,462$126,462
All Other Expenses-$92,555-$92,555
Fees for Service Investment Mgmnt Fees-$77,556-$77,556
Fees for Services Legal$40,729$16,720$20,061$77,510
Payroll Taxes$22,487$37,479$14,992$74,958
Travel-$74,117-$74,117
Conferences and Meetings-$5,421-$5,421
Total Functional Expenses$5,088,409$1,547,650$1,796,079$8,432,138

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,812,364
Expenses per Audited Statements$8,432,138
Total Expenses per Form 990$8,432,138
Expenses Not Reported on Form 990$380,226
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$257,213
Fundraising Direct Expenses$165,395
Fundraising Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fundraiser$151,798-$165,395-
Total Events$151,798-$165,395$-165,395
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The board reviews the form 990 after the audit committee's review. The chair of the audit committee conducts the review with the board.

Form 990, Part VI, Section B, Line 12C

The organization has all employees, committee members, and board members sign a conflict of interest statement annually.

Form 990, Part VI, Section B, Line 15

The board used a process of benchmarking other similar non-profit organizations in the area to determine the compensation of the president and chief executive officer and other top management officials. The organization uses an outside firm to perform a comprehensive review of compensation for key employees as they are hired.

Form 990, Part VI, Section C, Line 19

All documents are available by written request to the organization.

Filing and Contact Details

Filer

Filer Name
Detroit Riverfront Conservancy Inc
EIN
30-0125283
Phone
3135668200
Address
600 RENAISSANCE CENTER NO 1720, DETROIT, MI 48243-1802

Signing Officer

Name
Mark Wallace
Title
President and C.e.o.
Phone
3135668200
Signed
2018-09-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Wallace
Formed
2002
Legal Domicile
Mi
Voting Board Members
37
Independent Board Members
37
Employees
16
Volunteers
0

Preparer

Firm
George Johnson & Company
Address
1200 BUHL BUILDING 535 GRISWOLD, DETROIT, MI 48226-3689
Preparer
Michael R Nicholas
Phone
3139652655
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other professional fees: program service expenses 667,729. Management and general expenses 274,118. Fundraising expenses 71,683. Total expenses 1,013,530.

Financial Statement Notes

PART V, LINE 4:

The conservancy has established two endowment funds: the detroit riverfront conservancy endowment fund (the "conservancy fund") and the dequindre cut maintenance endowment fund (the "dequindre cut fund"). The initial deposit of $3,000,000 to the conservancy fund is restricted to be held in perpetuity. The income generated from the conservancy fund may be used to support various activities. The dequindre cut fund is restricted to support the operations and maintenance for the dequindre cut pathway, once the pathway is completed.

PART X, LINE 2:

The conservancy's management is not aware of any unrecognized tax benefits as of december 31, 2017 or 2016.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 165,395.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 165,395.

Raw XML AppendixShowing 400 of 840 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm5MARVIN W BEATTY
IRS990/Form990PartVIISectionAGrp/PersonNm6ALISHA BELL
IRS990/Form990PartVIISectionAGrp/PersonNm7JOHN K BLANCHARD
IRS990/Form990PartVIISectionAGrp/PersonNm8CARL LEVIN
IRS990/Form990PartVIISectionAGrp/PersonNm9SARAH H MCCLURE
IRS990/Form990PartVIISectionAGrp/PersonNm10MITCHELL A MONDRY
IRS990/Form990PartVIISectionAGrp/PersonNm11MARIAM C NOLAND
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IRS990/Form990PartVIISectionAGrp/PersonNm13PAMELA RODGERS
IRS990/Form990PartVIISectionAGrp/PersonNm14MARIA ELENA RODRIGUEZ
IRS990/Form990PartVIISectionAGrp/PersonNm15MARY SHEFFIELD
IRS990/Form990PartVIISectionAGrp/PersonNm16MAURICE STATEN
IRS990/Form990PartVIISectionAGrp/PersonNm17JOHN W STROH III
IRS990/Form990PartVIISectionAGrp/PersonNm18SCOTT A WICKENS
IRS990/Form990PartVIISectionAGrp/PersonNm19ALEXIS WILEY
IRS990/Form990PartVIISectionAGrp/PersonNm20ANGELA AYERS
IRS990/Form990PartVIISectionAGrp/PersonNm21DAVE BLASZKIEWICZ
IRS990/Form990PartVIISectionAGrp/PersonNm22KYLE T BURLESON
IRS990/Form990PartVIISectionAGrp/PersonNm23JOHN C CARTER
IRS990/Form990PartVIISectionAGrp/PersonNm24KEITH CREAGH
IRS990/Form990PartVIISectionAGrp/PersonNm25PATRICK J DEVLIN
IRS990/Form990PartVIISectionAGrp/PersonNm26ROBERT DEWAELSCHE
IRS990/Form990PartVIISectionAGrp/PersonNm27JENNIFER HUDSON PARKE
IRS990/Form990PartVIISectionAGrp/PersonNm28WENDY L JACKSON
IRS990/Form990PartVIISectionAGrp/PersonNm29ERIC B LARSON
IRS990/Form990PartVIISectionAGrp/PersonNm30ROBERT W MARANS PHD
IRS990/Form990PartVIISectionAGrp/PersonNm31JEFF MASON
IRS990/Form990PartVIISectionAGrp/PersonNm32KHALIL RAHAL
IRS990/Form990PartVIISectionAGrp/PersonNm33NETTIE H SEABROOKS
IRS990/Form990PartVIISectionAGrp/PersonNm34FRANK VENEGAS JR
IRS990/Form990PartVIISectionAGrp/PersonNm35JONATHAN T WALTON
IRS990/Form990PartVIISectionAGrp/PersonNm36BEVERLY J WATTS
IRS990/Form990PartVIISectionAGrp/PersonNm37MARK C WALLACE
IRS990/Form990PartVIISectionAGrp/PersonNm38WILLIAM SMITH
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