The Rivercity Company

What it reported doing in 2024

Downtown animation: rivercity built off the success of downtown animation from the past two years with a robust calendar of activities and events for 2024/2025. Events and programs includes; noontunes, ice cream crawl, summerween, take a break in miller park and reindeer on the riverfront.gratefull: gratefull is free and all are welcome to join together for a thanksgiving meal in the middle of martin luther king blvd. There is no fee, no expectations, and no agenda just an open invitation for all to gather in the city for a time of thanksgiving and gratefulness.beautification: rivercity in partnership with the city of chattanooga public art, installed new banners for the city center district. Rivercity also manages the snowflake lighting during the holidays to help with beautification efforts downtown.sport spot: rivercity installed a temporary pop up recreational experience under the olgiatie bridge on the riverfront in downtown chattanooga. The purpose was to test concepts from the "evolving our riverfront parks" planning process and to gather real time feedback from users. Four different public play spaces were available; pump track course, roller skating rink, pickleball court and basketball court.reimagine broad street: rivercity along with the city embarked on a comprehensive and visionary plan for broad street in downtown chattanooga. The plan is a detailed block-by-block urban design analysis that will address the public realm improvements, multi- modal transportation enhancements, integrate technology, green infrastructure, parking, economic development opportunities, all while supporting existing businesses and urban residents.public safety: in response to community feedback seeking regular opportunities for sharing, rivercity company, the downtown chattanooga alliance, chattanooga tourism company and the chattanooga area chamber of commerce have partnered to establish quarterly public meetings. The meetings include representatives from the host organizations along with the chattanooga police department and city of chattanooga to share about projects, plans and ways for locals to stay informed. It is also an opportunity for the community to ask questions and provide feedback. Miller plaza: miller plaza is an urban public park constructed almost three decades ago in the heart of downtown chattanooga; it was built both to provide a model of good urban design for "active park use", and to provide a venue for an enormous variety of animating activities for downtown. When it was constructed, downtown chattanooga was sliding downhill with abandoned retail stores, closed movie theaters, offices and residences relocating to outlying suburban areas, and a vacuum of attractive activity and animation, especially after work hours ended. Miller plaza was the first beacon for the revival of downtown chattanooga, and miller plaza now serves as the home for three restaurants and one retail shop, seasonal friday night concert series from memorial day to labor day, and a venue for many dozens of civic gatherings and activities. Miller plaza is owned ty the rivercity company and it continues to provide the social anchor for events and animation within the city center district of downtown chattanooga.

Financial Efficiency

• Mission deployment rate: 75.4%; rating input score 75
• Program expense ratio: 81.9%; rating input score 82
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 6 of 6 controls in place; rating input score 100
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • 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: 90%; rating input score 90; 21st percentile among comparable filings
• Governance controls: 6 of 8 controls in place; rating input score 75
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 53.1%; rating input score 93; 93rd percentile among comparable filings
• Total-asset coverage ratio: 9.64; rating input score 91; 91st percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 83; 83rd percentile among comparable filings
• Officer compensation ratio: 13.8%; rating input score 21; 21st percentile among comparable filings

Growth

• Program expense growth: 1.4% per year; rating input score 100; 19th percentile among comparable filings
• Revenue growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
• Asset growth: -0% per year; rating input score 0; 12th percentile among comparable filings