Civic Intelligence

Downtown Riverfront Trust

990 • Fiscal year 2022 • EIN 81-4619812

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 20, 2023

Organization ProfileN/A
10050 Regency Circle 101Omaha, NE 68114

(402) 391-3190

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.99x

Higher debt load relative to assets than 93% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

20.74x

Higher debt load relative to revenue than 99% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

18th percentile

-6.3%

Higher net margin than 18% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

44th percentile

$320,314

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 8.6% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

1st percentile

-51%

Faster asset growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-87%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$78,147,504

Down $80,668,239 (-51%) from 2021

Net Assets

Down

$540,865

Down $236,967 (-30%) from 2021

Liabilities

Down

$77,606,639

Down $80,431,272 (-51%) from 2021

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin18th percentile

Revenue

Down

$3,742,336

Down $25,152,614 (-87%) from 2021

Expenses

Down

$3,979,303

Down $25,036,808 (-86%) from 2021

Net Income

Down

-$236,967

Down $115,806 (-96%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$200M$150M$100M$50M$0Assets 2017: $922,374Liabilities 2017: $191,066Net Assets 2017: $731,3082017Assets 2018: $58,293,994Liabilities 2018: $57,963,344Net Assets 2018: $330,6502018Assets 2019: $151,998,722Liabilities 2019: $150,768,253Net Assets 2019: $1,230,4692019Assets 2020: $158,328,884Liabilities 2020: $157,429,891Net Assets 2020: $898,9932020Assets 2021: $158,815,743Liabilities 2021: $158,037,911Net Assets 2021: $777,8322021Assets 2022: $78,147,504Liabilities 2022: $77,606,639Net Assets 2022: $540,8652022Assets 2023: $20,920,786Liabilities 2023: $20,489,396Net Assets 2023: $431,3902023Assets 2024: $13,622,822Liabilities 2024: $13,309,116Net Assets 2024: $313,7062024

Highlighted filing

2022

Assets$78,147,504
Liabilities$77,606,639
Net Assets$540,865
Open 2022 Filing

Operations Trend

Revenue Growth1st percentile

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

$200M$150M$100M$50M$0-$50MRevenue 2017: $1,508,071Expenses 2017: $776,763Net Income 2017: $731,3082017Revenue 2018: $60,661,607Expenses 2018: $61,062,265Net Income 2018: -$400,6582018Revenue 2019: $169,454,287Expenses 2019: $168,554,468Net Income 2019: $899,8192019Revenue 2020: $36,994,406Expenses 2020: $37,325,882Net Income 2020: -$331,4762020Revenue 2021: $28,894,950Expenses 2021: $29,016,111Net Income 2021: -$121,1612021Revenue 2022: $3,742,336Expenses 2022: $3,979,303Net Income 2022: -$236,9672022Revenue 2023: $894,297Expenses 2023: $1,003,772Net Income 2023: -$109,4752023Revenue 2024: $398,352Expenses 2024: $516,036Net Income 2024: -$117,6842024

Highlighted filing

2022

Revenue$3,742,336
Expenses$3,979,303
Net Income-$236,967
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 20, 2023
Return Version
2022v5.0
Gross Receipts
$3,742,336
Mission and Program Overview

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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$139,331,782$76,711,198▼ $62,620,584
Savings and Temporary Cash Investments$19,483,697--
Cash and Non-Interest-Bearing Accounts$264$1,436,306▲ $1,436,042
Total Assets$158,815,743$78,147,504▼ $80,668,239
Liabilities
Other Liabilities$157,929,810$77,498,560▼ $80,431,250
Accounts Payable and Accrued Expenses$108,101$108,079▼ $22
Total Liabilities$158,037,911$77,606,639▼ $80,431,272
Net Assets / Fund Balance
Net Assets With Donor Restrictions$777,832$540,865▼ $236,967
Total Net Assets Fund Balance$777,832$540,865▼ $236,967
Total Liabilities and Net Assets / Fund Balance$158,815,743$78,147,504▼ $80,668,239
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleOtherTotal
Jennifer CallahanTreasurer$79,522$79,522

Board Members and Trustees

NameTitle
Kenneth StinsonChairman
Rachel JacobsonPresident
Jack KoraleskiDirector
Mogens C BayDirector
W Gary GatesDirector
Dan WatersSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$3,641,668
Program Service Revenue
$0
Investment Income
$100,668
Other Revenue
$0
All Other Contributions
$3,641,668
Change in Net Assets
$-236,967
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,856,253
Other Expenses$123,050
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,856,253--$3,856,253
Fees for Services Other-$100,000-$100,000
Fees for Services Accounting-$9,535-$9,535
Other Expenses-$2,559-$2,559
Total Functional Expenses$3,856,253$123,050$0$3,979,303
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Riverfront ProjectOmaha, NE-To Help Fund Riverfront Project.$3,856,253
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Contributions Payable$77,498,560
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
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 A, Line 2

“Certain board members have business relationships with other board members. These members work together at another non-profit organization.”

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

“A copy of the 990 is distributed to all board members prior to the filing of the 990.”

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

“Members of the board of directors complete a questionnaire on an annual basis to identify business relationships amoung directors. These questionnaires are then reviewed by the treasurer to determine any potential conflicts of interest and business relationships which would need to be disclosed. Board members also sign an annual acknowledgement that they read and understand the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“The organization would provide its governing documents, financial statements and tax returns upon request.”

Filing and Contact Details

Filer

Filer Name
Downtown Riverfront Trust
EIN
81-4619812
Phone
4023913190
Address
10050 REGENCY CIRCLE 101, OMAHA, NE 68114

Signing Officer

Name
Jennifer Callahan
Title
Treasurer
Phone
4023913190
Signed
2023-06-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rachel Jacobson
Formed
2016
Legal Domicile
Ne
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Lutz and Company Pc
Address
13616 CALIFORNIA ST STE 300, OMAHA, NE 68154-5336
Preparer
Hannah Goscha
Phone
4024968800
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization is exempt from federal income taxes as a non-profit corporation under section 501(c)(3) of the internal revenue code. The organization is not considered a private organization. The financial statements will not reflect a provision for income taxes, except for the tax on unrelated business income. For the years ended december 31, 2022 and 2021, the organization had no tax liability for unrelated business income. The organization follows the provisions of fasb codification topic 740-10 related to uncertain income tax positions. Management believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain positions that are material to the financial statements. The organization's federal return of organization exempt from income tax (form 990) for december 31, 2021, 2020 and 2019 are subject to examination by the irs, generally for three years after they are filed.”

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONTRIBUTIONS PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES AS A NON-PROFIT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS NOT CONSIDERED A PRIVATE ORGANIZATION. THE FINANCIAL STATEMENTS WILL NOT REFLECT A PROVISION FOR INCOME TAXES, EXCEPT FOR THE TAX ON UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, THE ORGANIZATION HAD NO TAX LIABILITY FOR UNRELATED BUSINESS INCOME. THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB CODIFICATION TOPIC 740-10 RELATED TO UNCERTAIN INCOME TAX POSITIONS. MANAGEMENT BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR DECEMBER 31, 2021, 2020 AND 2019 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/RecipientTable/CashGrantAmt03856253
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO HELP FUND RIVERFRONT PROJECT.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0RIVERFRONT PROJECT
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
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IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RACHEL JACOBSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CERTAIN BOARD MEMBERS HAVE BUSINESS RELATIONSHIPS WITH OTHER BOARD MEMBERS. THESE MEMBERS WORK TOGETHER AT ANOTHER NON-PROFIT ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE 990 IS DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO THE FILING OF THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS OF THE BOARD OF DIRECTORS COMPLETE A QUESTIONNAIRE ON AN ANNUAL BASIS TO IDENTIFY BUSINESS RELATIONSHIPS AMOUNG DIRECTORS. THESE QUESTIONNAIRES ARE THEN REVIEWED BY THE TREASURER TO DETERMINE ANY POTENTIAL CONFLICTS OF INTEREST AND BUSINESS RELATIONSHIPS WHICH WOULD NEED TO BE DISCLOSED. BOARD MEMBERS ALSO SIGN AN ANNUAL ACKNOWLEDGEMENT THAT THEY READ AND UNDERSTAND THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION WOULD PROVIDE ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND TAX RETURNS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CONSULTING AND REIMBURSEMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0170(B)(1)(A)(VI)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0OMAHA
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IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0100000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH PAID
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03856253
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IRS990/VotingMembersGoverningBodyCnt04
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04023913190
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-20
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ReturnHeader/Filer/EIN0814619812
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470625816
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LUTZ AND COMPANY PC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$78,147,504
Liabilities
$77,606,639
Net assets
$540,865
Revenue
$3,742,336
Expenses
$3,979,303
Net income
-$236,967
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.6$13.3$0.31$0.40$0.52$0.12
2023Detailed filing. Detailed filing data is available for this year.$20.9$20.5$0.43$0.89$1.00$0.11
2022Detailed filing. Detailed filing data is available for this year.$78.1$77.6$0.54$3.74$3.98$0.24
2021Detailed filing. Detailed filing data is available for this year.$159$158$0.78$28.9$29.0$0.12
2020Detailed filing. Detailed filing data is available for this year.$158$157$0.90$37.0$37.3$0.33
2019Detailed filing. Detailed filing data is available for this year.$152$151$1.23$169$169$0.90
2018Detailed filing. Detailed filing data is available for this year.$58.3$58.0$0.33$60.7$61.1$0.40
2017Summary only. Only limited summary data is available for this year.$0.92$0.19$0.73$1.51$0.78$0.73