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Downtown Riverfront Trust FY2020 filing

Tax-deductible

Omaha, NE501(c)(3)Community DevelopmentEIN 81-4619812Revenue $37.0M in FY2020

On file with the IRS10050 Regency Cir Ste 101, 68114-3721 · Omaha, NETax-exempt since Mar 2017Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $183K a year · 1% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $4.1M
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$157.4M
99% of total assets
Concern: liabilities are 99% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$37.0M
Spent
$37.3M
To programs
100%
Net assets
$899K
By yearFY2020–FY2024
Revenue
$37.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$37.0M
FY2021$28.9M
FY2022$3.7M
FY2023$894K
FY2024$398K
Expenses
$37.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$37.3M
FY2021$29.0M
FY2022$4.0M
FY2023$1.0M
FY2024$516K
Net assets
$899K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$899K
FY2021$778K
FY2022$541K
FY2023$431K
FY2024$314K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $37.2M Management & general 0% · $171K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Susan Morris
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mogens C Bay
Director
$0Pt VII · Sec A
W Gary Gates
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Dan Waters
Secretary
$0Pt VII · Sec A
See Downtown Riverfront Trust executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops the Missouri River waterfront for public benefit and use.

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Provided by the organization

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1 program · $37.2M · in their own filed words · FY2020
01

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 a new Tri-Park Complex on three City of Omaha owned properties currently referred to as…

$37.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
The Hawks FoundationFY2024$2.0M
Donor Advised Charitable Giving INCFY2024$650K
Union Pacific FoundationFY2024$500K
Physicians Mutual Insurance Company FoundationFY2024$200K
The Charles and Mary Heider Family FoundationFY2024$200K
Vanguard Charitable Endowment ProgramFY2024$150K
American Endowment FoundationFY2024$100K
Givewell Community Foundation INCFY2024$100K
Total grants receivedfrom 10 funders$4.1M
See all 10 funders →
Grants paid · 4 grants · $34.0M · 2021–2024
Riverfront ProjectFY2024$392,321
Riverfront ProjectFY2023$877,552
Riverfront ProjectFY2022$3,856,253
Meca Tri-Park Complex LLCFY2021$28,895,881

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$37.0M
Ln 12
Gifts and grantsLn 1h$37.0M
Investment incomeLn 3$9K
Money outPt IX
$37.3M
Ln 25
Programscol B$37.2M
Managementcol C$171K
Owns and owesPt X
$899K
net assets · Ln 32
Cash and savingsLn 1–2$2.5M
Total assetsLn 16$158.3M
LiabilitiesLn 26$157.4M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$37.0M
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$9K
Total revenueLn 12$37.0M
Assets in detailPt X, end of year
CashLn 1$389
SavingsLn 2$2.5M
Cash and savings togetherLn 1–2$2.5M
Total assetsLn 16$158.3M
LiabilitiesLn 26$157.4M
Net assetsLn 32$899K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$4.6M$2.5M
Total assetsLn 16$152.0M$158.3M
LiabilitiesLn 26$150.8M$157.4M
Net assetsLn 32$1.2M$899K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$37.2M$37.2M
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$150K$150K
Office expensesLn 13$189$189
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$3K$0$3K$0
Total functional expensesLn 25$37.3M$37.2M$171K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $398K$516K−$118K$314K 990 PDF
FY2023 $894K$1.0M−$109K$431K 990 PDF
FY2022 $3.7M$4.0M−$237K$541K 990 PDF
FY2021 $28.9M$29.0M−$121K$778K 990 PDF
FY2020 Viewing $37.0M$37.3M−$331K$899K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $36,994,406 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $169,158,578$36,985,899
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $295,709$8,507
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $169,454,287$36,994,406
I-13 Grants and similar amounts paidPrior year $0$37,154,932
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $168,554,468$170,950
I-18 Total expensesPrior year $168,554,468$37,325,882
I-19 Revenue less expensesPrior year $899,819−$331,476
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $36,994,406 across 11 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$36,985,899
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$36,985,899
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $8,507$8,507
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $8,507$36,994,406
Part IX · Statement of functional expenses $37,325,882 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $37,154,932$37,154,932
IX-11b Legal feesManagement $1,970$1,970
IX-11c Accounting feesManagement $9,265$9,265
IX-11g Other fees for servicesManagement $150,000$150,000
IX-13 Office expensesManagement $189$189
IX-23 InsuranceManagement $6,413$6,413
IX-24 Other expenses (24a–d)Programs $0 · Management $3,113 · Fundraising $0$3,113
IX-25 Total functional expensesPrograms $37,154,932 · Management $170,950 · Fundraising $0$37,325,882
Part X · Balance sheet $158,328,884 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $13,141$389
X-2 Savings and temporary cash investmentsStart of year $4,578,229$2,520,864
X-3 Pledges and grants receivableStart of year $147,397,993$155,807,631
X-16 Total assetsStart of year $151,998,722$158,328,884
X-17 Accounts payable and accrued expensesStart of year $208,272$159,114
X-25 Other liabilitiesStart of year $150,559,981$157,270,777
X-26 Total liabilitiesStart of year $150,768,253$157,429,891
X-27 Net assets without donor restrictionsStart of year $0$0
X-28 Net assets with donor restrictionsStart of year $1,230,469$898,993
X-32 Total net assets or fund balancesStart of year $1,230,469$898,993
X-33 Total liabilities and net assetsStart of year $151,998,722$158,328,884
Part XI · Reconciliation of net assets $898,993 net assets at year end
XI-1 Total revenue$36,994,406
XI-2 Total expenses$37,325,882
XI-3 Revenue less expenses−$331,476
XI-4 Net assets at start of year$1,230,469
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$898,993

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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