EIN 39-1731739

Riverworks Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
36
Year formed
1992
Most recent tax filings
2022-12-01
Description
RDC drives social & economic development in Milwaukee's Harambee & Riverwest neighborhoods through real estate and neighborhood development.
Total revenues
$2,491,512
2022
Total expenses
$1,974,306
2022
Total assets
$6,357,876
2022
Num. employees
36
2022

Program areas at Riverworks Development Corporation

Financial clinic: provides innovative solutions to help families, individuals and small businesses reach their full potential by increasing credit scores, building wealth, and learning new ways to achieve short and long-term financial goals. The clinic accomplishes this through one-on-one financial coaching, group-based education, free tax preparation services, debt management, planning, goal setting, building banking relationships, and other referral resources. In 2022, 187 clients received one-on-one financial coaching services; 1,196 individuals were referred to financial resources and programs through the financial navigator program; and 1,172 individuals were assisted in preparing and submitting their tax returns through the volunteer income tax assistance (vita) program.
Business Development hub: provides technical assistance to local entrepreneurs and businesses. Our business specialists provide business coaching and strategic budgeting sessions to help find funding and grant opportunities that fit their needs. Services available to businesses include property/business beautification strategies, security initiatives, marketing & promotional opportunities, and business planning. We connect property owners and entrepreneurs/small businesses to physical space and provide each entrepreneur with our network of partners and educational opportunities. In 2022, the hub assisted 304 businesses in starting, growing, marketing, and funding their ventures. Through the bounceback grant, the hub assisted 53 businesses in receiving a total $740,000 to fund leasing of commercial spaces, and through the brew city match grant program, 11 businesses were awarded a total of $105,000 for marketing, predevelopment and construction costs.
Neighborhood Development & creative placemaking: 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, such as the beerline trail, with art and culture, facilitating community improvement and safety projects, and connecting residents and homeowners to resources - including those available through the harambee neighborhood improvement district (nid) #7. In 2022, residents engaged in the beerline shuffle, music on the beerline, the 53212marketplace series, neighborhood clean ups, and other events that unite the harambee and riverwest communities. Riverworks completed 3,789 housing surveys in the harambee neighborhood to address blighted properties and encourage residents to apply for funding for home repair. The harambee quality of life plan brought together community stakeholders and residents to begin planning phases for a plan to improve the neighborhood and resident quality of life. The beerline trail neighborhood Development project continued to ensure the next phases of trail Development serve the needs of the community, and that other Development inspired by and centered around the trail benefits residents equitably. Prior to the beerline trail neighborhood Development project efforts, this corridor was significantly impacted by blight, disinvestment, and a lack of perceived safety.
Real estate Development: leads catalytic residential and commercial projects which have a positive economic and social impact on the community. The four core values are: create jobs, stabilize the tax base, repurpose vacant & blighted properties, and generate revenue for rdc's programs. The Riverworks city center, completed in 2018, houses the offices for rdc staff, as well as the Riverworks coin laundry, a rotating whitebox space for local businesses, the beerline trail food court, and a spaced rented by family dollar. The Riverworks lofts, completed in 2012, has one- and two- bedroom loft-style apartments on the intersection of holton and townsend. The Riverworks commons, completed in 2004, is a shopping center on capitol drive with 21,000 feet of retail space. In 2022, rdc completed construction and landscaping on a green infrastructure project - the beerline plaza; the plaza is located at the Riverworks city center, and serves as a public place for events, music, art and much more. Rdc also continued construction on the connector building project, which will have a multi-use community space and cafe adjacent to the beerline trail, and is expected to be completed in spring 2023. 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, event set up, minor landscaping, streetscape maintenance, and returning stolen property. Contracts include private businesses, bids, and the city of milwaukee. In 2022, Riverworks cleans worked in 7 milwaukee business improvement districts and collected 4,169 bags of litter, emptied 1,246 trash cans, returned 499 shopping carts, and removed 15 graffiti tags. Riverworks cleans also completed 1,494 illegal dump work orders issued by the city of milwaukee, resulting in 7,172 cubic yards of debris, removed from city owned properties.

Who funds Riverworks Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Local Initiatives Support CorporationSee Part Iv$143,179
Greater Milwaukee Foundation (GMF)Tracking Engagement and Change Within Harambee$101,000
United Methodist Children's Services of WisconsinRon Coalition Partnership Agreement$59,650
...and 8 more grants received

Personnel at Riverworks Development Corporation

NameTitleCompensation
Darryl JohnsonExecutive Director$113,927
Debbie PowersBusiness and Accounting Manager
John Cervantes RiverworksClean Business Manager
Travis SpellBusiness Development Manager
Shaunta GibbsCoin Laundry Manager
...and 7 more key personnel

Financials for Riverworks Development Corporation

RevenuesFYE 12/2022
Total grants, contributions, etc.$1,884,621
Program services$655,914
Investment income and dividends$5,095
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$-62,868
Net gain from sale of non-inventory assets$0
Net income from fundraising events$5,956
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$2,794
Total revenues$2,491,512

Form 990s for Riverworks Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-05-30990View PDF
2021-122022-06-27990View PDF
2020-122021-05-25990View PDF
2019-122021-04-02990View PDF
2018-122020-01-28990View PDF
...and 8 more Form 990s
Data update history
December 23, 2023
Received grants
Identified 9 new grant, including a grant for $232,046 from Local Initiatives Support Corporation
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
August 2, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 24, 2023
Updated personnel
Identified 4 new personnel
July 22, 2023
Used new vendors
Identified 2 new vendors, including , and
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHeadquarter / parent organizationsCharities
Issues
Community improvementEconomic development
Characteristics
Fundraising eventsState / local levelReceives government fundingManagement and technical assistanceCommunity engagement / volunteeringTax deductible donations
General information
Address
526 E Concordia Ave
Milwaukee, WI 53212
Metro area
Milwaukee-Waukesha, WI
County
Milwaukee County, WI
Website URL
riverworksmke.org/ 
Phone
(414) 906-9650
IRS details
EIN
39-1731739
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1992
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Central organization
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