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Riverworks Development Corporation EIN 39-1731739

Riverworks Development Corporation

EIN  39-1731739 Public charity (501(c)(3)) Milwaukee, WI Founded 1992
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/30/26 · see original filing: IRS
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Size
$1–10M
What they do
Boosts economic prosperity by offering resources for residents and businesses, especially in Riverworks neighborhoods.
Leadership
Darryl Johnson · Executive Director · $115K
Money in and out
$2.4M revenue, $2.1M expenses
Bottom line
82% program efficiency

Boosts economic prosperity by offering resources for residents and businesses, especially in Riverworks neighborhoods. For fiscal year 2025 it reported $2.4M in revenue, $2.1M in expenses, and $4.4M in net assets.Pt I

Where the money goes · FY2025
Total revenue
$2.4M
Pt VIII · Ln 12
Total expenses
$2.1M
Pt IX · Ln 25
Net assets
$4.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $239K
Where spending went · Part IX cols B–D
Program services $0.82 Management & general $0.13 Fundraising $0.04
Program efficiency
82%
of spending reaches programs
Operating runway
4.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+10%
revenue over expenses, this year▼ -4% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$2.4M
FY2025▼ -19%
Expenses
$2.1M
FY2025▼ -19%
Total assets
$7.3M
FY20250%
Total liabilities
$2.9M
FY2025▼ -8%
Total revenue
$2.4M
Pt VIII · Ln 12
Total expenses
$2.1M
Pt IX · Ln 25
Net assets
$4.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$239K
Total assetsPt X · Ln 16$7.3M
Program-expense ratioPt IX · col B82%
Voting members of governing bodyPt I · Ln 317
Independent voting membersPt I · Ln 417
Mission & Programs · Part III

Where the work happens

3 program services account for $1.5M of program spending, described in the organization's own filed words · FY2025.
01

Financial Clinic

Empowers milwaukee's low- to moderate-income residents with free, professional financial counseling, tax preparation, and community-based financial education. Through one-on-one coaching, vita tax services, debt management, financial goal setting, and banking access support, the program helps residents improve credit, reduce debt, build…

$707Kprogram expense
02

Riverworks Cleans

Hires community members who have barriers to employment through this social enterprise program. They serve the community by cleaning up sidewalks and curbs, vacant lots and commercial districts. Services include litter and graffiti removal, minor landscaping, streetscape maintenance, event services, and returning stolen property.

$516Kprogram expense
03

Neighborhood Development

Collaborates with residents and other stakeholders to create a vibrant community that reflects the culture and values of the harambee and riverwest neighborhoods. This includes activating and revitalizing public spaces with art and culture, facilitating community improvement and safety projects, and connecting residents and homeowners to…

$325Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRiverworks Development Corporation
EINHdr · item D39-1731739
Principal addressHdr · item CMilwaukee, WI
WebsiteHdr · item Jwww.riverworksmke.org
Year of formationHdr · item L1992
State of legal domicileHdr · item MWI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S20Z)
Ruling yearIRS BMFMar 1993

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a17
Independent voting membersPt VI · Ln 1b17
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Darryl Johnson
Executive Director
$114,581Pt VII · Sec A
Shawnta Eaton-Leschig
Vice President
$0Pt VII · Sec A
Susan Doyle
Treasurer
$0Pt VII · Sec A
Neil White
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Olson
Director
$0Pt VII · Sec A
Andrew Ruehl
Director
$0Pt VII · Sec A

Darryl Johnson’s $115K as Executive Director is at the 28th percentile of top reported officer pay among 2834 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2023FY2022FY2021FY2020
Darryl Johnson$114,581$108,597$113,927$115,859$107,306

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$1.7M · 74%
Program service revenue$643K · 27%
Contributions & grants74%$1.7M
Program service revenue27%$643K
Investment income$11K
— government grantsLn 1e$492K
Total revenueLn 12$2.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.82 Management & general $0.13 Fundraising $0.04
Program services82%$1.8M
Management & general13%$285K
Fundraising4%$90K
Total functional expensesLn 25$2.1M

Balance Sheet

Part X · end of year
CashLn 1$779K
Total assetsLn 16$7.3M
Total liabilitiesLn 26$2.9M
Total net assetsLn 32$4.4M
Months of cash on handcomputed4.4

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $779K · Operating expenses (Pt IX) $2.1M · Less non-cash grants $2K · Cash operating expenses/yr $2.1M
4.4 months
Where the money goes
Program services
Program services $1.8M · Total expenses $2.1M
82%
Management & General
Management & general $285K · Total expenses $2.1M
13%
Fundraising
Fundraising $90K · Total expenses $2.1M
4%
Cost to raise $1
Fundraising expense (2-yr avg) $127K · Solicited contributions (2-yr avg) $1.3M
$0.09 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.7M · Total revenue $2.4M
74%
Government reliance
Government grants $492K · Total revenue $2.4M
21%
Earned-income share
Program service revenue $643K · Total revenue $2.4M
27%
Investment reliance
Investment income $11K · Total revenue $2.4M
0%
Program self-sufficiency
Program service revenue $643K · Total expenses $2.1M
30%
Growth & trend
Revenue growth (YoY)
This year $2.4M · Prior year $2.9M
-19%
Revenue CAGR
FY2020 $2.0M · FY2025 $2.4M
+4%
Net-asset trend (YoY)
End of year $4.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.4M · Expenses $2.1M
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $7.3M
—
Net-asset ratio
Net assets $4.4M · Total assets $7.3M
60%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $7.3M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Darryl Johnson · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $115K · Total expenses $2.1M
5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.3M · Total expenses $2.1M
59%
Fundraising vendors
Fundraiser cost ratio
Paid to fundraisers $0 · Gross raised $885K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 82%——
Overhead ratio 13%——
Fundraising cost ratio 5%——
Revenue growth -19%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Weiss Family FoundationFY2025$5K
Total grants receivedfrom 1 funder$5K
Grants paid · 6 grants · $125K · 2020–2023
Lush PopcornFY2023$75,000
Ambition Center MkeFY2023$7,116
Unitemized GrantFY2021$25,000
Unitemized GrantFY2021$5,000
Unitemized GrantFY2020$10,000
Unitemized GrantFY2020$2,500

Similar Organizations

Closest in mission — by what they do
Riverfront Development Corporation of DelawareDE
River City Community Development CorporationNC
Regional Development CorporationNM
River Country Resource Conservation and Development Rc & D Council INCWI
RiverworksMN
River Road Improvement CorporationNJ
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$2.4M revenue · viewing · ⤓ 990 PDF
FY2024$2.9M revenue · ⤓ 990 PDF
FY2023$2.8M revenue · ⤓ 990 PDF
FY2022$2.5M revenue · ⤓ 990 PDF
FY2021$1.8M revenue · ⤓ 990 PDF
FY2020$2.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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