Civic Intelligence

The Rivercity Company

990 • Fiscal year 2014 • EIN 62-1273871

Jul 01, 2013 to Jun 30, 2014 • Filed on Oct 29, 2014

Organization ProfileWWW.RIVERCITYCOMPANY.COM

View Organization Page

850 Market St 2nd Floor MillerPlaza37402

(423) 265-3700

Siviq Scores

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

Liabilities / Assets

47th percentile

0.25x

Higher debt load relative to assets than 47% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

87th percentile

2.14x

Higher debt load relative to revenue than 87% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

92nd percentile

53%

Higher net margin than 92% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

58th percentile

$275,489

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 9.0% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

38th percentile

1.7%

Faster asset growth than 38% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

10th percentile

-22%

Faster revenue growth than 10% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$25,685,819

Up $433,906 (+1.7%) from 2013

Net Assets

Up

$19,154,666

Up $1,616,825 (+9.2%) from 2013

Liabilities

Down

$6,531,153

Down $1,182,919 (-15%) from 2013

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin92nd percentile

Revenue

$3,047,835

No earlier filing loaded for comparison.

Expenses

Down

$1,431,010

Down $311,094 (-18%) from 2013

Net Income

$1,616,825

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$30M$20M$10M$0Assets 2010: $27,217,995Liabilities 2010: $9,756,139Net Assets 2010: $17,461,8562010Assets 2011: $24,771,890Liabilities 2011: $8,976,047Net Assets 2011: $15,795,8432011Assets 2012: $26,055,298Liabilities 2012: $7,687,063Net Assets 2012: $18,368,2352012Assets 2013: $25,251,913Liabilities 2013: $7,714,072Net Assets 2013: $17,537,8412013Assets 2014: $25,685,819Liabilities 2014: $6,531,153Net Assets 2014: $19,154,6662014Assets 2015: $26,848,241Liabilities 2015: $6,289,118Net Assets 2015: $20,559,1232015Assets 2016: $27,085,586Liabilities 2016: $6,468,709Net Assets 2016: $20,616,8772016Assets 2017: $26,543,249Liabilities 2017: $5,633,706Net Assets 2017: $20,909,5432017Assets 2018: $25,493,890Liabilities 2018: $3,966,787Net Assets 2018: $21,527,1032018Assets 2019: $25,385,026Liabilities 2019: $3,819,694Net Assets 2019: $21,565,3322019Assets 2020: $26,242,832Liabilities 2020: $3,029,456Net Assets 2020: $23,213,3762020Assets 2021: $25,545,530Liabilities 2021: $2,369,848Net Assets 2021: $23,175,6822021Assets 2022: $24,107,323Liabilities 2022: $652,673Net Assets 2022: $23,454,6502022Assets 2023: $24,591,593Liabilities 2023: $684,351Net Assets 2023: $23,907,2422023Assets 2024: $24,762,934Liabilities 2024: $521,826Net Assets 2024: $24,241,1082024Assets 2025: $28,194,101Liabilities 2025: $425,067Net Assets 2025: $27,769,0342025

Highlighted filing

2014

Assets$25,685,819
Liabilities$6,531,153
Net Assets$19,154,666
Open 2014 Filing

Operations Trend

Revenue Growth10th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,065,6822010Expenses 2011: $2,673,9302011Revenue 2012: $5,032,612Expenses 2012: $2,460,220Net Income 2012: $2,572,3922012Expenses 2013: $1,742,1042013Revenue 2014: $3,047,835Expenses 2014: $1,431,010Net Income 2014: $1,616,8252014Revenue 2015: $2,830,870Expenses 2015: $1,426,413Net Income 2015: $1,404,4572015Revenue 2016: $2,075,567Expenses 2016: $2,035,113Net Income 2016: $40,4542016Revenue 2017: $2,666,288Expenses 2017: $2,665,269Net Income 2017: $1,0192017Revenue 2018: $7,155,849Expenses 2018: $7,065,084Net Income 2018: $90,7652018Revenue 2019: $2,305,211Expenses 2019: $2,405,406Net Income 2019: -$100,1952019Revenue 2020: $3,952,333Expenses 2020: $2,431,896Net Income 2020: $1,520,4372020Revenue 2021: $2,878,741Expenses 2021: $3,572,072Net Income 2021: -$693,3312021Revenue 2022: $2,204,102Expenses 2022: $1,776,788Net Income 2022: $427,3142022Revenue 2023: $2,411,061Expenses 2023: $2,078,117Net Income 2023: $332,9442023Revenue 2024: $2,154,114Expenses 2024: $1,935,305Net Income 2024: $218,8092024Revenue 2025: $6,243,206Expenses 2025: $2,925,907Net Income 2025: $3,317,2992025

Highlighted filing

2014

Revenue$3,047,835
Expenses$1,431,010
Net Income$1,616,825
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Oct 29, 2014
Return Version
2013v3.0
Gross Receipts
$5,302,084
Mission and Program Overview

Mission

The rivercity company's mission is to assist and support the chattanooga city and hamilton county governments by promoting and managing the development of a vibrant, attractive and healthy downtown that is the economic, social and cultural centerpiece of the chattanooga region. The rivercity company accomplishes this by overseeing development of downtown real estate, making and programming great urban spaces, and employing creative urban design. Its primary strategic areas for projects and initiatives are: (i)completing a return to the river in the ross's landing/riverfront district, (ii)reinvigorating the historic commercial core in the central business district, and (iii)bringing more residents to all areas of downtown through catalyzing a full range of downtown housing.

The rivercity company's mission is to assist and support the chattanooga city and hamilton county governments by promoting and managing the development of a vibrant, attractive and healthy downtown that is the economic, social and cultural centerpiece of the chattanooga region. The rivercity company accomplishes this by overseeing development of downtown real estate, making and programming great urban spaces, and employing creative urban design. Its primary strategic areas for projects and initiatives are completing a return to the river in the ross's landing/riverfront district, reinvigorating the historic commercial core in the central business district, and bringing more residents to all areas of downtown through catalyzing a full range of downtown housing and ensuring access to high quality public information.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$18,291,570$20,536,029▲ $2,244,459
Savings and Temporary Cash Investments$4,030,621$2,443,955▼ $1,586,666
Other Notes and Loans Receivable, Net$2,099,985$1,741,337▼ $358,648
Accounts Receivable$58,076$81,970▲ $23,894
Prepaid Expenses and Deferred Charges$68,650$55,420▼ $13,230
Total Assets$25,251,913$25,685,819▲ $433,906
Other Assets Total$703,011$827,108▲ $124,097
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,103,008$6,241,263▼ $861,745
Accounts Payable and Accrued Expenses$499,264$188,490▼ $310,774
Deferred Revenue$111,800$101,400▼ $10,400
Total Liabilities$7,714,072$6,531,153▼ $1,182,919
Net Assets / Fund Balance
Unrestricted Net Assets$15,763,003$17,559,728▲ $1,796,725
Temporarily Rstr Net Assets$1,774,838$1,594,938▼ $179,900
Total Net Assets Fund Balance$17,537,841$19,154,666▲ $1,616,825
Total Liabilities and Net Assets / Fund Balance$25,251,913$25,685,819▲ $433,906

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,153,061$5,170,659$17,005,020
Land$8,238,667-$5,823,827
Equipment$144,301$338,408$482,709

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$0-→ $0$0-
2012$628,853-▲ $4,448$633,301-
2011$798,461-▼ $12,223-$628,853
2010$904,733-▲ $143,386-$798,461
2009$799,142-▲ $105,591-$904,733
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kim WhitePresidentFT$177,845$97,644$275,489

Board Members and Trustees

NameTitle
Tom GriscomChairman of the Board
Charles ArantPast Chairman of the Board
Corky CokerVice Chairman of the Board
Allen CoreyBoard of Director
Andy BerkeBoard of Director
Breege FarrellBoard of Director
Britton StansellBoard of Director
Dana PerryBoard of Director
Harold DepriestBoard of Director
Jim CoppingerBoard of Director
Jimar SandersBoard of Director
Joe GrahamBoard of Director
Miller WelbornBoard of Director
Mitch PatelBoard of Director
Ron HarrBoard of Director
Stephen CulpBoard of Director
Steve AngleBoard of Director
Steve JettBoard of Director
Yusuf HakeemBoard of Director
Tim KellySecretary
John GiblinTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Strauss CompanyConstruction-$3,806,078
3form INCBuilding Supplies-$289,083
Urban Design Assoc LtdConsulting-$110,500
Miller & Martin PllcLegal Services-$101,002
Revenue and Support

Revenue Composition

Contributions and Grants
$2,522,700
Program Service Revenue
$113,555
Investment Income
$228,382
Other Revenue
$183,198
All Other Contributions
$2,522,700
Change in Net Assets
$1,616,825

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,047,835
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,881,638
Total Revenue per Audited Statements
$4,929,473
Total Revenue per Form 990
$3,047,835
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$867,180
Salaries, Compensation, and Employee Benefits$541,883
Grants and Similar Amounts Paid$21,947
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$163,900$130,148-$294,048
Current Officers, Directors, Trustees, and Key Employees$157,002$90,833-$247,835
Depreciation Depletion$8,387$89,945-$98,332
All Other Expenses$63,224$34,419-$97,643
Fees for Services Legal$37,137$12,419-$49,556
Fees for Services Accounting-$31,639-$31,639
Advertising$23,107$3,817-$26,924
Other Expenses$10,968$14,800-$25,768
Insurance$260$17,625-$17,885
Office Expenses$12,697$5,086-$17,783
Fees for Services Other$14,019--$14,019
Grants to Domestic Individuals$13,447--$13,447
Information Technology-$13,095-$13,095
Grants to Domestic Orgs$8,500--$8,500
Travel$7,726$61-$7,787
Occupancy$2,325$1,235-$3,560
Conferences and Meetings-$430-$430
Total Functional Expenses$910,474$520,536$0$1,431,010

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,312,648
Expenses Not Reported on Form 990$1,881,638
Expenses per Audited Statements$1,431,010
Total Expenses per Form 990$1,431,010
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
45-4939850--City Center Retail Incentive Grant$8,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Steve JettBoard Member for Rivercity Company and Chair of Board for CartaSTEVE JETT IS A DIRECTOR FOR RIVERCITY COMPANY AND CHAIR OF THE BOARD FOR CARTA (THE CHATTANOOGA AREA REGIONAL TRANSPORTATION AUTHORITY). DURING THE YEAR RIVERCITY PAID RENT EXPENSE OF $36,000 TO CARTA FOR LEASE OF THE THE BLOCK ON BROAD STREET.No$36,000
Britton StansellBoard Member for Rivercity Company and General Manager of Republic ParkingBRITTON STANSELL IS A DIRECTOR FOR RIVERCITY COMPANY AND THE GENERAL MANAGER OF REPUBLIC PARKING. RIVERCITY PAID REPUBLIC PARKING $28,527 OF MANAGEMENT FEES FOR MANAGEMENT OF RIVERCITY'S PUBLIC PARKING LOTS.No$28,527
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The draft of the form 990 is reviewed carefully by the board chairperson, the president, legal counsel, the rivercity executive staff, and rivercity's accountants. When the draft is finalized and ready to be furnished to the irs, a copy is given to all board members.”

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

“The organization requires all officers, board of directors, trustees, and key employees to fill out a written conflict of interest questionnaire annually.”

Form 990, Part VI, Section B, Line 15A

“The executive committee reviewed several factors including (1) compensation paid to the two immediate previous rivercity presidents, (2) compensation paid to the ceo of the chamber of commerce, the convention and visitors bureau, and the tennessee acquarium, (3) the applicant's existing rate of pay, (4) evaluation semi-annually of the executive director's bonus compensation based upon goals set by the committee.”

Form 990, Part VI, Section C, Line 19

“The primary governing document for rivercity is its organizing charter, which is a public document available from the tennessee secretary of state and/or the hamilton county, tennessee registrar's office. Otherwise, rivercity does not make other documents available for public inspection beyond the federal form 990 and form 1023.”

Filing and Contact Details

Filer

EIN
62-1273871
Phone
4232653700

Signing Officer

Name
Kim White
Title
President
Phone
4232653700
Signed
2014-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim White
Formed
1986
Legal Domicile
Tn
Voting Board Members
21
Independent Board Members
17
Employees
12
Volunteers
500

Preparer

Preparer
Susan Polcari CPA
Phone
4237567771
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“Form 990, part xii, line 2c organization has a committee that assumes responsibility for the audit. The process by which the organization assumes responsibility for oversight of the audit has not changed from the prior year.”

Financial Statement Notes

PART V, LINE 4:

“The miller plaza fund was reclassified as an investment since it technically does not meet all the qualifications to be classified as an endowment. The miller plaza fund had a balance of $806,196 at 6/30/14 and is still restricted to help with the operating expense and maintaining miller plaza, a public pavilion and park, which is owned by river city company.”

PART X, LINE 2:

“The organization follows the guidance of asc topic 740, income taxes (previously fasb interpretation no. 48, accounting for uncertainty in income taxes - an interpretation of fasb statement no. 109) which clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements. This interpretation prescribed a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In addition, asc topic 740 provides guidance on derecognition, classification, interest and penalties, disclosure and transition. The organization adopted the provisions of asc topic 740, and they had no impact on the financial position, results of operations, and cash flows. Based on its evaluation, the organization has concluded that there are no significant uncertain tax position requiring recognition in its financial statements. The organization's evaluation was performed for the tax years ended june 30, 2011 through june 30, 2014 for federal income tax, the years that remain subject to examination by major tax jurisdictions as of june 30, 2014.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses netted against rental income on 990 1,581,638. Unrealized gain or loss 300,000.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses netted against rental income on 990 1,581,638. Unrealized gain or loss 300,000.”

Raw XML AppendixShowing 400 of 697 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/ActivityOrMissionDesc0THE RIVERCITY COMPANY'S MISSION IS TO ASSIST AND SUPPORT THE CHATTANOOGA CITY AND HAMILTON COUNTY GOVERNMENTS BY PROMOTING AND MANAGING THE DEVELOPMENT OF A VIBRANT, ATTRACTIVE AND HEALTHY DOWNTOWN THAT IS THE ECONOMIC, SOCIAL AND CULTURAL CENTERPIECE OF THE CHATTANOOGA REGION. THE RIVERCITY COMPANY ACCOMPLISHES THIS BY OVERSEEING DEVELOPMENT OF DOWNTOWN REAL ESTATE, MAKING AND PROGRAMMING GREAT URBAN SPACES, AND EMPLOYING CREATIVE URBAN DESIGN. ITS PRIMARY STRATEGIC AREAS FOR PROJECTS AND INITIATIVES ARE COMPLETING A RETURN TO THE RIVER IN THE ROSS'S LANDING/RIVERFRONT DISTRICT, REINVIGORATING THE HISTORIC COMMERCIAL CORE IN THE CENTRAL BUSINESS DISTRICT, AND BRINGING MORE RESIDENTS TO ALL AREAS OF DOWNTOWN THROUGH CATALYZING A FULL RANGE OF DOWNTOWN HOUSING AND ENSURING ACCESS TO HIGH QUALITY PUBLIC INFORMATION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD OF DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD OF DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD OF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21PRESIDENT
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IRS990/MissionDesc0THE RIVERCITY COMPANY'S MISSION IS TO ASSIST AND SUPPORT THE CHATTANOOGA CITY AND HAMILTON COUNTY GOVERNMENTS BY PROMOTING AND MANAGING THE DEVELOPMENT OF A VIBRANT, ATTRACTIVE AND HEALTHY DOWNTOWN THAT IS THE ECONOMIC, SOCIAL AND CULTURAL CENTERPIECE OF THE CHATTANOOGA REGION. THE RIVERCITY COMPANY ACCOMPLISHES THIS BY OVERSEEING DEVELOPMENT OF DOWNTOWN REAL ESTATE, MAKING AND PROGRAMMING GREAT URBAN SPACES, AND EMPLOYING CREATIVE URBAN DESIGN. ITS PRIMARY STRATEGIC AREAS FOR PROJECTS AND INITIATIVES ARE COMPLETING A RETURN TO THE RIVER IN THE ROSS'S LANDING/RIVERFRONT DISTRICT, REINVIGORATING THE HISTORIC COMMERCIAL CORE IN THE CENTRAL BUSINESS DISTRICT, AND BRINGING MORE RESIDENTS TO ALL AREAS OF DOWNTOWN THROUGH CATALYZING A FULL RANGE OF DOWNTOWN HOUSING AND ENSURING ACCESS TO HIGH QUALITY PUBLIC INFORMATION.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt314800
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IRS990/PrincipalOfficerNm0KIM WHITE
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/Desc0EVENT INCOME - RCC
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0113555
IRS990/ProgSrvcAccomActy2Grp/Desc0RETAIL RECRUITMENT FOR DOWNTOWN: THIS INITIATIVE IS INTENDED TO RECRUIT NEW COMMERCIAL RETAILERS TO LOCATE WITHIN THE CITY CENTER DISTRICT DOWNTOWN, SINCE ECONOMIC VIABILITY IS VIEWED AS CRUCIAL TO THE SUSTAINABILITY OF THE ENTIRE DOWNTOWN REVITALIZATION EFFORT. OVER THE PAST YEAR 13 NEW RESTAURANTS AND RETAILERS HAVE OPENED IN CITY CENTER.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt092700
IRS990/ProgSrvcAccomActy2Grp/GrantAmt08500
IRS990/ProgSrvcAccomActy3Grp/Desc0CITY CENTER PLAN FOR DOWNTOWN: THE CITY CENTER PLAN IS A PLANNING PROCESS THAT INCLUDED A SERIES OF FOCUS GROUPS, STAKEHOLDER MEETINGS AND COMMUNITY INPUT SESSIONS TO DEVELOP A THOUGHTFUL PLAN FOR RESIDENTIAL, COMMERCIAL AND CIVIC DEVELOPMENT IN OUR CITY'S CORE. WE HELD 10 FOCUS GROUPS WITH KEY DOWNTOWN PROPERTY OWNERS, REALTORS AND CITY AND COUNTY OFFICIALS. WE HELD A TWO NIGHT COMMUNITY INPUT SESSION WITH 550 PEOPLE FROM THE COMMUNITY TO ENVISION THE FUTURE OF THEIR DOWNTOWN. THE CITY CENTER PLAN CALLS FOR A REDESIGN OF BROAD STREET, A REDESIGN OF MILLER PARK TO CONNECT WITH MILLER PLAZA, THE PURCHASE OF THE ROSS HOTEL TO ACT AS A CATALYST FOR THE RESTORING OF PATTEN PARKWAY AND DEVELOPMENT OF 728 MARKET STREET.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0199182
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAMS INCLUDE:THE BLOCK - THE BLOCK IS THE LARGEST ADAPTIVE REUSE PROJECT IN CHATTANOOGA'S HISTORY, TURNING THE OLD BIJOU THEATER INTO A VIBRANT URBAN CENTERPIECE; INCLUDING ROCK/CREEK OUTFITTERS; CHATTZ COFFEE AND HIGH POINT CLIMBING AND FITNESS, A 23,000 SQUARE FOOT STATE OF THE ART CLIMBING AND BOULDERING GYM WITH A 16,500 SQUARE FOOT CLIMBING WALL ON THE BROAD STREET FACE OF THE BUILDING. ITS PRIMARY PURPOSE IS TO BRING MORE VISITORS TO THE RIVERFRONT DISTRICT AND TO FILL IN AN EMPTY SPACE IN THE HEART OF THE DISTRICT, THUS PROMOTING ECONOMIC ACTIVITY AND VIBRANCY THROUGHOUT DOWNTOWN.UNUM DOWNTOWN CAMPUS STUDY: THIS STUDY EVALUATED THE POTENTIAL FOR DEVELOPMENT OF A LARGE PORTION OF LAND CONTROLLED BY UNUM ON THE PERIMETER OF THE CITY CENTER PLANNING AREA. THE RESULTING PLAN CLEARLY REVEALS THE SIGNIFICANCE OF THE UNUM PROPERTY TO THE FUTURE GROWTH OF DOWNTOWN CHATTANOOGA. THE PLANS CALL FOR THE CREATION OF AN EXCITING, MIXED-USE, PEDESTRIAN-ORIENTED DOWNTOWN NEIGHBORHOOD. UNUM EXECUTIVES HAVE ACKOWLEDGED THEIR INTEREST IN EXPLORING OPPORTUNITIES FOR DEVELOPMENT AND RECOGNIZE, NOT ONLY THE VALUE OF THE PROPERTY, BUT ITS SIGNIFICANCE TO THE SURROUNDING NEIGHBORHOODS AND TO THE CITY. DOWNTOWN MARKET STUDY: THE DOWNTOWN MARKET STUDY WAS DEVELOPED TO DETERMINE MARKET OPPORTUNITIES IN DOWNTOWN CHATTANOOGA FOR REAL ESTATE DEVELOPMENT. THE STUDY LOOKED AT MARKET DEPTH TO SUPPORT NEW FOR SALE AND RENTAL HOUSING, CHARACTERIZE MARKET DEMAND FOR CURRENT AND FUTURE SUPPLY FOR RESIDENTIAL, RETAIL, AND OFFICE SPACES. THE STUDY FOUND THERE IS A LACK OF DOWNTOWN RESIDENTIAL HOUSING AND THIS IS KEY FOR CHATTANOOGA TO REACH ITS FULL POTENTIAL. RIVER CITY IS USING THIS STUDY TO WORK WITH POTENTIAL DEVELOPMENTS TO MEET THE DEMAND FOR DOWNTOWN HOUSING. MILLER PLAZA: MILLER PLAZA IS AN URBAN PUBLIC PARK CONSTRUCTED ALMOST THREE DECADES AGO IN THE HEART OF DOWNTOWN CHATTANOOGA; IT WAS BUILT BOTH TO PROVIDE A MODEL OF GOOD URBAN DESIGN FOR "ACTIVE PARK USE," AND TO PROVIDE A VENUE FOR AN ENORMOUS VARIETY OF ANIMATING ACTIVITIES FOR DOWNTOWN. WHEN IT WAS CONSTRUCTED, DOWNTOWN CHATTANOOGA WAS SLIDING DOWNHILL WITH ABANDONED RETAIL STORES, CLOSED MOVIE THEATERS, OFFICES AND RESIDENCES RELOCATING TO OUTLYING SURBURBAN AREAS, AND A VACUUM OF ATTRACTIVE ACTIVITY AND ANIMATION, EXPECIALLY AFTER WORK HOURS ENDED. MILLER PLAZA WAS THE FIRST BEACON FOR THE REVIVAL OF DOWNTOWN CHATTANOOGA, AND MILLER PLAZA NOW SERVES AS THE HOME FOR FOUR RESTAURANTS/SANDWICH SHOPS; SEASONAL FRIDAY NIGHT CONCERT SERIES FROM MEMORIAL DAY TO SEPTEMBER; AND A VENUE FOR MANY DOZENS OF CIVIC GATHERINGS AND ACTIVITIES. MILLER PLAZA IS OWNED BY THE RIVERCITY COMPANY AND IT CONTINUES TO PROVIDE THE SOCIAL ANCHOR FOR EVENTS AND ANIMATION WITHIN THE CITY CENTER DISTRICT OF DOWNTOWN CHATTANOOGA. RETURN TO THE RIVER INITIATIVES: THIS PROGRAM'S PURPOSE IS TO ATTRACT PEOPLE TO LIVE, WORK, AND PLAY IN THE RIVERFRONT DISTRICT. EXPENDITURES RELATE TO PLANNING FOR FUTURE DEVELOPMENT, ANIMATION OF EXISTING PUBLIC SPACES.
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IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt013447
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0725928
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0924084
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0255228

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,685,819
Liabilities
$6,531,153
Net assets
$19,154,666
Revenue
$3,047,835
Expenses
$1,431,010
Net income
$1,616,825
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.2$0.43$27.8$6.24$2.93$3.32
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.8$0.52$24.2$2.15$1.94$0.22
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.6$0.68$23.9$2.41$2.08$0.33
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.1$0.65$23.5$2.20$1.78$0.43
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.5$2.37$23.2$2.88$3.57$0.69
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.2$3.03$23.2$3.95$2.43$1.52
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.4$3.82$21.6$2.31$2.41$0.10
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.5$3.97$21.5$7.16$7.07$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.5$5.63$20.9$2.67$2.67$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.1$6.47$20.6$2.08$2.04$0.04
2015Detailed filing. Detailed filing data is available for this year.$26.8$6.29$20.6$2.83$1.43$1.40
2014Detailed filing. Detailed filing data is available for this year.$25.7$6.53$19.2$3.05$1.43$1.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.3$7.71$17.5$1.74
2012Summary only. Only limited summary data is available for this year.$26.1$7.69$18.4$5.03$2.46$2.57
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$8.98$15.8$2.67
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.2$9.76$17.5$3.07