2024-11-15T14:24:23-06:00 2023-12-31 510229493 BARBACANE THORNTON & COMPANY LLP 503 CARR ROAD SUITE 100 WILMINGTON DE 19809 990 2023-01-01 821401986 REACH RIVERSIDE DEVELOPMENT CORP REAC 3027649022 1121 THATCHER STREET WILMINGTON DE 19802 LAURA MOOD CHIEF FINANCIAL OFFICER 3027649022 2024-11-15 0 0 STEVEN KUTSUFLAKIS CPA P02478766 3024798940 2023 2024-10-15 13:58:12Z LAURA MOOD 1121 THATCHER STREET WILMINGTON DE 19802 10287857 0 X REACHRIVERSIDE.ORG X 2017 DE TRANSFORM NORTHEAST WILMINGTON'S HISTORIC RIVERSIDE INTO A HEALTHY VIBRANT PLACE TO LIVE & THRIVE. 13 13 18 125 0 0 5399527 8816073 0 0 147445 1471784 0 0 5546972 10287857 0 0 0 0 1282324 1312074 0 0 210246 3357012 3805069 4639336 5117143 907636 5170714 33136480 38023669 538551 393275 32597929 37630394 X TO BREAK THE BURDENS OF INTERGENERATIONAL POVERTY CAUSED BY STRUCTURAL RACISM BY WORKING ALONGSIDE THE COMMUNITY TO TRANSFORM NORTHEAST WILMINGTON'S HISTORIC RIVERSIDE NEIGHBORHOOD INTO A HEALTHY VIBRANT PLACE TO LIVE AND THRIVE. 0 0 4268400 AS A MEMBER OF THE PURPOSE BUILT COMMUNITIES NETWORK, A NATIONALLY REOWNED ORGANIZATION DEDICATED TO HOLISTIC COMMUNITY REDEVELOPMENT, REACH RIVERSIDE FOCUSES ON THE FOUR PILLARS OF REVITALIZATION SHOWN TO HAVE THE GREATEST IMPACT ON LONG-TERM COMMUNITY HEALTH AND WELL-BEING. REDEVELOPMENT - REACH RIVERSIDE IS COMMITTED TO BUILDING APPROXIMATELY 700 UNITS OF HIGH-QUALITY, MIXED-INCOME HOUSING THAT WILL ELEVATE THE STANDARD OF LIVING FOR RIVERSIDE NEIGHBORHOOD RESIDENTS AND PROVIDE THE SAFE AND AFFORDABLE HOUSING RESIDENTS DESERVE.EDUCATION - ACCESS TO EXCELLENT EDUCATION IS A MUST FOR ANY PROSPEROUS COMMUNITY. THE REACH RIVERSIDE PROMISE IS TO DELIVER A HIGH-QUALITY EDUCATION PIPELINE FROM CRADLE TO COLLEGE TO ENSURE GROWTH AND ACHIEVEMENT AT EVERY LEVEL, ENHANCING OPPORTUNITIES FOR SUCCESSFUL FUTURES.COMMUNITY HEALTH - A HEALTHY COMMUNITY IS THE FOUNDATION OF A THRIVING COMMUNITY, AND THE REACH RIVERSIDE PROMISE INCLUDES THE CREATION OF A COMPREHENSIVE HEALTH, WELLNESS, AND SAFETY PROGRAM TO MEET THE DIVERSE NEEDS OF THE RIVERSIDE RESIDENTS. FROM NEW SIDEWALKS AND PLAYGROUNDS TO MENTAL HEALTH SUPPORT, FINANCIAL LITERACY, YOUTH ENGAGEMENT, AND A LOCAL GROCERY STORE, RESIDENTS WILL HAVE THE SUPPORT NEEDED FOR A HEALTHY LIFESTYLE.ECONOMIC VITALITY - A STRONG COMMERCIAL CORE FOSTERS NEIGHBORHOOD PROSPERITY AND RESIDENTS' ECONOMIC ADVANCEMENT, OFFERING OPPORTUNITIES FOR MEANINGFUL WORK AND WEALTH BUILDING. A DUAL-PRONGED STRATEGY SUPPORTING OPPORTUNITIES ACROSS INCOME LEVELS ENSURES ABUNDANT LOCAL RESOURCES AND PARTICIPATION IN A THRIVING ECONOMY. 4268400 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 18 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X THE ORGANIZATION 3027649022 1121 THATCHER STREET WILMINGTON DE 19802 CHARLES S MCDOWELL ESQ CHAIR 30.00 X X 0 0 0 PERRY BEBERMAN TREASURER 2.00 X 0 0 0 STEPHEN BRIGGS DIRECTOR 1.00 X 0 0 0 DONALD FULTON DIRECTOR 1.00 X 0 0 0 RAY FITZGERALD DIRECCTOR 1.00 X 0 0 0 CHIP ROSSI DIRECTOR 1.00 X 0 0 0 SONIA PAREDES DIRECTOR 1.00 X 0 0 0 JAMES RAY RHODES VICE CHAIR 10.00 X X 0 0 0 DIONNA J SARGENT DIRECTOR 1.00 X 0 0 0 JOCELYN STEWART DIRECTOR 2.00 X 0 0 0 SHERRY DORSEY WALKER DIRECTOR 1.00 X 0 0 0 KEVIN L SMITH DIRECTOR 1.00 X 0 0 0 BETTINA TWEARDY RIVEROS DIRECTOR 1.00 X 0 0 0 LOGAN HERRING CHIEF EXECUTIVE OFFICER 40.00 X 182344 0 0 KENYETTA MCCURDY - BYRD CHIEF OPERATING OFFICER 40.00 X 135603 0 0 DAVID FORD CHIEF COMMUNITY INVESTMENT 40.00 X 120883 0 0 LAURA MOOD CHIEF FINANCIAL OFFICER 40.00 X 119443 0 0 558273 0 0 4 0 1 0 0 5050000 3766073 8816073 1471784 1471784 10287857 0 0 1471784 558273 390791 139568 27914 443340 310337 110836 22167 45861 32103 11465 2293 152964 107075 38241 7648 111636 78145 27909 5582 36088 36088 33454 23418 7360 2676 43667 30567 8733 4367 51 51 27775 27775 2029 2029 COMMUNITY SUPPORT 3097338 3097338 PROFESSIONAL SERVICES 321045 128418 64209 128418 PROFESSIONAL DEVELOPMEN 91817 55089 27547 9181 EQUIPMENT AND MAINTENAN 85658 85658 66147 15119 51028 5117143 4268400 638497 210246 5769704 8990666 429186 317109 270385 409928 65795 89836 344133 26764637 28034731 83117 66645 33136480 38023669 213551 145275 150000 150000 175000 98000 538551 393275 X 4560613 4323078 28037316 33307316 32597929 37630394 33136480 38023669 5170714 -138249 0 X X 0 1 X 1 0 X 1457592 4548339 42220368 5546972 8810073 62583344 1457592 4548339 42220368 5546972 8810073 62583344 62583344 1361 1276 296 147445 1333535 1483913 64067257 0.97680 0.99730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 259722 259722 73718 35667 38051 76488 30128 46360 344133 US TREASURY 27979526 F MONEY MARKET ACCOUNT 55205 F 28034731 DUE TO RELATED PARTY 98000 98000 X 10149608 -138249 -138249 10287857 0 10287857 5117143 0 5117143 0 5117143 PART X, LINE 2: GAAP REQUIRES ENTITIES TO EVALUATE, MEASURE, RECOGNIZE AND DISCLOSE ANY UNCERTAIN INCOME TAX POSITIONS TAKEN ON THEIR TAX RETURNS. GAAP PRESCRIBES A MINIMUM THRESHOLD THAT A TAX POSITION IS REQUIRED TO MEET IN ORDER TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. REACH RIVERSIDE BELIEVES THAT IT HAD NO UNCERTAIN TAX POSITIONS AS DEFINED IN GAAP. PART X, LINE 2 REACH RIVERSIDE HAS ADOPTED AN ACCOUNTING STANDARD REGARDING UNCERTAIN TAX POSITIONS. THE STANDARD PRESCRIBES A MINIMUM THRESHOLD THAT A TAX POSITION IS REQUIRED TO MEET IN ORDER TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. REACH RIVERSIDE BELIEVES THAT IT HAD NO UNCERTAIN TAX POSITIONS AS DEFINED IN THE STANDARD. 0 0 0 0 0 0 0 0 0 LOGAN HERRING CHIEF EXECUTIVE OFFICER 182344 0 0 0 0 0 0 0 0 0 182344 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS HAVE THE POWER TO ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, A COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW. THE BOARD OF DIRECTORS FOR REVIEW. THE BOARD OF DIRECTORS MAY COMMENT ON ANY PROPOSED CHANGES OR SUGGESTIONS TO MANAGEMENT. A FORMAL BOARD ACTION IS PERFORMED ANNUALLY TO APPROVE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C DURING BOARD MEETINGS, BOARD MEMBERS SHALL DISCLOSE ANY CONFLICT OF INTEREST INVOLVING AN ISSUE BEFORE THE BOARD. WHILE THEY MAY PARTICIPATE IN DISCUSION OF THE ISSUE, THEY MAY NOT VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION HAS A SHARED SERVICES AGREEMENT ("SSA") WITH KINGSWOOD COMMUNITY CENTER ("KINGSWOOD") AND THE TEEN WAREHOUSE, INC. ("WAREHOUSE"), UNRELATED TAX EXEMPT ORGANIZATIONS, WHO ARE COLLABORATING WITH THE ORGANIZATION ON A HOLISTIC NEIGHBORHOOD REVITALIZATION INITIATIVE. PURSUANT TO THE SSA THE ORGANIZATION HIRES A TEAM OF EMPLOYEES WHO PROVIDE ALL OF THE MANAGEMENT LEADERSHIP AS WELL AS ADMINISTRATIVE AND ADVISORY SUPPORT FOR ALL THREE ORGANIZATIONS WITH EACH BEARING THEIR PROPORATIONATE SHARE OF THE COST . WHILE THE ORGANIZATION ACTUALLY PAYS ALL OF THESE EXPENSES FOR ALL THREE ORGANIZATIONS, THE COMPENSATION AND OTHER AMOUNTS AND REPORTED HEREIN REFLECT ONLY THE ORGANIZATION'S PROPORTIONATE SHARE. EACH ORGANIZATION'S SHARE OF THESE COSTS IS APPROVED ANNUALLY IN EACH ORGANIZATION'S BUDGET PROCESS. COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER, CHIEF OPERATING OFFICER, CHIEF COMMUNITY INVESTMENT OFFICER AND CHIEF FINANCIAL OFFICER IS SET BY THE FINANCE COMMITTEE ANNUALLY BASED ON COMPARABLE MARKET COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PART XII LINE 2C THE AUDITED FINANCIAL STATEMENTS ARE REVIEWED BY THE AUDIT COMMITTEE PRIOR TO FINALIZATION.