Downtown Riverfront Trust

Analysis

Downtown Riverfront Trust is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in March 2017, 9 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, Downtown Riverfront Trust reported income of $894k and spending of $1.0m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $169.5m to $894k (-99%), an average of -73% a year. The sharpest change came in the year to December 2022, when income dropped by 87%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Riverfront Trust sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within NE. Charities of a similar size with the same main cause include Corry Community Foundation ($894k), Modesto Improvement Partnership Inc ($895k) and White Earth Investment Initiative ($893k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% of the total. At year end it held assets of $20.9m against liabilities of $20.5m, net assets of $431k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.