Civic Intelligence

The Lower Town Riverfront Conservancy

EIN 86-2851511 • 501(c)3 • Detroit, MI

Profile

The lower town riverfront conservancy is organized to establish, improve, operate, maintain, conserve and preserve publicly accessable green space, trails and pathways, and park amenities initially in broadway park west in ann arbor.

1117 Griswold St Ste 1416Detroit, MI 48201

lowertowna2.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

18th percentile

0.04x

Higher debt load relative to revenue than 18% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

95th percentile

76%

Higher net margin than 95% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

50th percentile

$185,000

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 11.3% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

57th percentile

6.5%

Faster asset growth than 57% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-85%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$21,546,533

Up $1,315,873 (+6.5%) from 2023

Liabilities

Up

$68,788

Up $63,631 (+1234%) from 2023

Net Assets

Up

$21,477,745

Up $1,252,242 (+6.2%) from 2023

Revenue

Down

$1,642,366

Down $9,017,770 (-85%) from 2023

Expenses

Down

$389,822

Down $23,061 (-5.6%) from 2023

Net Income

Down

$1,252,544

Down $8,994,709 (-88%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2022: $9,988,921Liabilities 2022: $10,671Net Assets 2022: $9,978,2502022Assets 2023: $20,230,660Liabilities 2023: $5,157Net Assets 2023: $20,225,5032023Assets 2024: $21,546,533Liabilities 2024: $68,788Net Assets 2024: $21,477,7452024

Highlighted filing

2024

Assets$21,546,533
Liabilities$68,788
Net Assets$21,477,745

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0Revenue 2022: $10,001,000Expenses 2022: $22,750Net Income 2022: $9,978,2502022Revenue 2023: $10,660,136Expenses 2023: $412,883Net Income 2023: $10,247,2532023Revenue 2024: $1,642,366Expenses 2024: $389,822Net Income 2024: $1,252,5442024

Highlighted filing

2024

Revenue$1,642,366
Expenses$389,822
Net Income$1,252,544

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 23, 2025
Return Version
2024v5.0
Gross Receipts
$1,708,115
Mission and Program Overview

Mission

The lower town riverfront conservancy is organized to establish, improve, operate, maintain, conserve and preserve publicly accessable green space, trails and pathways, and park amenities initially in broadway park west in ann arbor.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,422,217$11,917,355▲ $4,495,138
Savings and Temporary Cash Investments$12,549,114$8,194,779▼ $4,354,335
Accounts Receivable-$1,194,729-
Cash and Non-Interest-Bearing Accounts$259,329$234,670▼ $24,659
Pledges and Grants Receivable-$5,000-
Total Assets$20,230,660$21,546,533▲ $1,315,873
Liabilities
Accounts Payable and Accrued Expenses$1,213$68,788▲ $67,575
Other Liabilities$3,944--
Total Liabilities$5,157$68,788▲ $63,631
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$20,225,503$12,821,330▼ $7,404,173
Net Assets With Donor Restrictions-$8,656,415-
Total Net Assets Fund Balance$20,225,503$21,477,745▲ $1,252,242
Total Liabilities and Net Assets / Fund Balance$20,230,660$21,546,533▲ $1,315,873

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$10,373,355-$10,373,355
Land$1,544,000-$1,544,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marie KlopfPresidentFT$167,865$17,135$185,000

Board Members and Trustees

NameTitle
Stacy FoxChair
Anthony TomczakBoard Member
Jim KostevaBoard Member
Mark WallaceBoard Member
Susan PollayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,323,036
Program Service Revenue
$0
Investment Income
$385,079
Other Revenue
$-65,749
All Other Contributions
$676,460
Change in Net Assets
$1,252,544

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,642,366
Total Revenue per Audited Statements
$1,642,366
Total Revenue per Form 990
$1,642,366
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$215,739
Other Expenses$174,083
Total Fundraising Expense$121,157
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$55,500$55,500$74,000$185,000
Fees for Services Other$24,678$9,871$14,807$49,356
Occupancy$8,610$8,610$11,479$28,699
Insurance$5,198$8,663$3,465$17,326
Other Salaries and Wages$4,988$4,988$6,650$16,626
Fees for Services Accounting-$14,625-$14,625
Payroll Taxes$4,234$4,234$5,645$14,113
Fees for Services Legal$1,886$4,400-$6,286
Information Technology$2,210$2,210$1,105$5,525
Advertising$975-$2,274$3,249
Office Expenses$569$759$569$1,897
Conferences and Meetings$658$411$575$1,644
Travel$378$441$441$1,260
Other Expenses$35,177$98$147$245
Total Functional Expenses$145,061$123,604$121,157$389,822

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$389,822
Total Expenses per Audited Statements$389,822
Total Expenses per Form 990$389,822
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$65,749
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Riverfront Soir$149,205-$65,749-
Total Events$149,205-$65,749$-65,749
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
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
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
Yes
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, Page 6, Part VI, Line 11B

The board members review and approve the form 990 before it is filed.

Form 990, Page 6, Part VI, Line 12C

All board members are required to disclose in writing to the lower town riverfront conservancy any proprietary or financial interest they may have in any organization with which the conservancy does business, in order to determine whether a conflict of interest exists.

Form 990, Page 6, Part VI, Line 15A

The president's scope of responsibilities is detailed in her employment contract. At the end of her one year contract period the full board, in executive session, evaluated her performance against those specific responsibilities and confirmed her compensation for the upcoming year.

Form 990, Page 6, Part VI, Line 19

Governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
The Lower Town Riverfront
EIN
86-2851511
Phone
8103978541
Address
1117 GRISWOLD ST STE 1416, DETROIT, MI 48201

Signing Officer

Name
Marie Klopf
Title
President
Phone
3135668200
Signed
2025-05-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marie Klopf
Formed
2020
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
5

Preparer

Firm
Altruic Advisors Cpas
Address
417 FOREST AVENUE, PLYMOUTH, MI 48170
Preparer
Ryan N Hagan CPA
Phone
8882985297
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The lower town riverfront conservancy is organized to establish, improve, operate, maintain, conserve and preserve publicly accessable green space, trails and pathways, and park amenities initially in broadway park west in ann arbor.

Form 990, Part IX, Line 11G

Other professional fees 24,678 9,871 14,807

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LOWER TOWN RIVERFRONT CONSERVANCY IS ORGANIZED TO ESTABLISH, IMPROVE, OPERATE, MAINTAIN, CONSERVE AND PRESERVE PUBLICLY ACCESSABLE GREEN SPACE, TRAILS AND PATHWAYS, AND PARK AMENITIES INITIALLY IN BROADWAY PARK WEST IN ANN ARBOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEMBERS REVIEW AND APPROVE THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS ARE REQUIRED TO DISCLOSE IN WRITING TO THE LOWER TOWN RIVERFRONT CONSERVANCY ANY PROPRIETARY OR FINANCIAL INTEREST THEY MAY HAVE IN ANY ORGANIZATION WITH WHICH THE CONSERVANCY DOES BUSINESS, IN ORDER TO DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT'S SCOPE OF RESPONSIBILITIES IS DETAILED IN HER EMPLOYMENT CONTRACT. AT THE END OF HER ONE YEAR CONTRACT PERIOD THE FULL BOARD, IN EXECUTIVE SESSION, EVALUATED HER PERFORMANCE AGAINST THOSE SPECIFIC RESPONSIBILITIES AND CONFIRMED HER COMPENSATION FOR THE UPCOMING YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER PROFESSIONAL FEES 24,678 9,871 14,807
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0MARIE KLOPF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03135668200
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE LOWER TOWN RIVERFRONT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CONSERVANCY
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALTRUIC ADVISORS CPAS
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PLYMOUTH
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