Detroit Riverfront Conservancy

What it reported doing in 2024

As a regional landmark, a public asset for detroit, and america's best riverwalk, according to USA today, the detroit riverfront and our connected greenways play a special role in the lives of detroiters and a catalytic role in the continued transformation of detroit's international waterfront. A community advisory team of 21 detroiters reflecting different geographies, demographics, and user types was assembled and traveled to New York, philadelphia, and chicago to learn about other landmark waterfront parks and to inform plans for the continued development of the ralph c. Wilson, jr. Centennial park. In total, more than 5,000 community members have been engaged in developing the vision for the park and future programming. The detroit riverfront welcomes more than three million visitors per year and has generated significant public and private investment since its founding. The detroit riverfront has been named america's best riverwalk by USA today in 2021, 2022, and 2023.celebrating our 20th anniversary in 2023, the conservancy was established with a vision and founding promise to transform detroit's riverfront, the face of our city, into a beautiful, exciting, safe, accessible, world-class gathering place for all. Today, the conservancy is responsible for: - stewardship and maintenance - security and safety - reinvestment and development - programming and event administration the riverfront encompasses 5 parks 3 greenways, and multiple plazas providing a diversity of outdoor experiences for visitors of all ages and now host programs for more than 350,000 people each year: - cullen plaza - dequindre cut - gabriel richard park & christopher stroh plaza - mayor dennis w. Archer greenway - mt. Elliott park - ralph c. Wilson, jr. Centennial park - robert c. Valade park - southwest greenwayonce a neglected stretch of industrial sites and shuttered businesses, the detroit riverfront is now a series of cherished public spaces where all feel welcome. Beginning with a best-in-class community engagement process, the detroit riverfront conservancy held more than 100 community meetings before starting construction on the riverwalk, an unprecedented approach at the time. The lessons from this process continue to inform programming on the detroit riverfront and plans for new spaces.the detroit riverfront conservancy broke ground on the ralph c. Wilson, jr. Centennial park in may, 2022 and has fulfilled our bridge-to-bridge vision since completing construction on the final segment connecting the east riverfront to ralph wilson park. The new park opened in 2025; it features the delta dental play garden, an expansive lawn for programs and special events, basketball courts in the sport house and a large water garden.

Financial Efficiency

• Mission deployment rate: 23.2%; rating input score 23
• Program expense ratio: 75.6%; rating input score 76
• Fundraising efficiency: $24.41 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 69.2%; rating input score 97; 97th percentile among comparable filings
• Total-asset coverage ratio: 16.23; rating input score 95; 95th percentile among comparable filings
• Liabilities to assets ratio: 0.16; rating input score 65; 65th percentile among comparable filings
• Officer compensation ratio: 8.5%; rating input score 27; 27th percentile among comparable filings

Growth

• Program expense growth: 10.5% per year; rating input score 100; 72nd percentile among comparable filings
• Revenue growth: 20.1% per year; rating input score 100; 92nd percentile among comparable filings
• Asset growth: 6.5% per year; rating input score 100; 46th percentile among comparable filings