Reach Riverside Development Corp

Nonprofit profile at a glance

EIN
821401986
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Wilmington, DE, USA
Phone
3027649022
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$3,751,794
Expenses
$4,076,615
Assets
$37,880,104
Liabilities
$508,927

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • LOGAN HERRING (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • LOGAN HERRING (CHIEF EXECUTIVE OFFICER): $178,447 total reported compensation
  • KENYETTA MCCURDY - BYRD (CHIEF OPERATING OFFICER): $122,936 total reported compensation
  • DAVID FORD (CHIEF COMMUNITY INVESTMENT): $110,452 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 65
  • Accountability: 91
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.6%; rating input score 85
  • Program expense ratio: 77.9%; rating input score 78
  • Fundraising efficiency: $9.79 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass

Sustainability

  • Operating margin: -8.7%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 9.29; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 12.7%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 26% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 16.5% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 35.9% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 84.6% of revenue deployed · 77.9% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $178K · 18 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $293K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • High — Sustainability: Operating margin scored 15/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 23/100.