Riverworks Development Corporation

Analysis

Riverworks Development Corporation is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in March 1993, 33 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Riverworks Development Corporation reported income of $2.8m and spending of $2.3m, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $974k to $2.8m (+190%), an average of +31% a year. The sharpest change came in the year to December 2020, when income rose by 102%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Riverworks Development Corporation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within WI. Charities of a similar size with the same main cause include Community Option Resource Enterprises Inc ($2.8m), Greater New Orleans Development Foundation ($2.8m) and Rocky Mountain Microfinance Institute ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $152k (6.7% of expenses). Other salaries and wages came to $782k. It paid $107k in professional fundraising fees. At year end it held assets of $7.1m against liabilities of $3.2m, net assets of $3.9m. It reported 37 employees.