REACH RIVERSIDE DEVELOPMENT CORPORATION
With The Community, For The Community
REACH RIVERSIDE DEVELOPMENT CORPORATION
EIN: 82-1401986
as of September 2024
as of September 09, 2024
Programs and results
Reports and documents
Download annual reportsWhat we aim to solve
The REACH Riverside Development Corporation was formed in 2017 to remove the barriers to prosperity and well-being facing residents of Wilmingtons Riverside neighborhood, a community experiencing the devastating impacts of decades of racial discrimination and disinvestment. REACH is the managing partner of The WRK Group, a group of three nonprofits (REACH Riverside, Kingswood Community Center, and The Warehouse) working together to implement the Purpose Built Communities revitalization model, a holistic approach focused on housing, education and health initiatives.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
REACH Riverside
The REACH Riverside Development Corporation was formed in 2017 to remove the barriers to prosperity and well-being facing Wilmingtons Riverside neighborhood, a community experiencing the devastating impacts of decades of racial discrimination and disinvestment.
REACH is the community quarterback entity leading the implementation of the Purpose Built Communities revitalization model, a holistic approach focused on housing, education, and health initiatives. REACH is the managing partner of The WRK Group, a group of three nonprofits - The Warehouse, REACH Riverside, and Kingswood Community Center - working with Riverside residents to revitalize the community and remove barriers to prosperity.
Where we work
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Overview and Results
This metric is no longer tracked.Totals By Year
Related Program
REACH Riverside
Type of Metric
Outcome - describing the effects on people or issues
Direction of Success
Increasing
Context Notes
67 additional homes in Imani Village Phase 2 completed and leased. Winner of $50M Choice Neighborhood investment in NE Wilmington.
Goals & Strategy
Reports and documents
Download strategic planLearn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
The REACH Riverside Development Corporation was formed in 2017 to remove the barriers to prosperity and well-being facing Wilmington, Delawares Riverside neighborhood, a community experiencing the devastating impacts of decades of discrimination and neglect. REACH is the community quarterback entity leading implementation of the Purpose Built Communities revitalization model, a holistic approach focused on housing, education and health initiatives.
REACH is also the managing partner of The WRK Group, a group of three nonprofits - REACH Riverside, Kingswood Community Center (KCC), and The Warehouse (TWH) - working with Riverside residents to revitalize the community and remove barriers to prosperity. This unique organizational structure enables Kingswood and The Warehouse to focus on service delivery, while REACH leads redevelopment strategy and houses administrative functions such as development, marketing, finance/accounting, and human resources for all three organizations. Today the WRK Group is made up of 50 employees who deploy over $10 million in annual revenue to create opportunities that will enable the residents of Riverside to thrive.
The WRK Group has made remarkable progress in just five years: construction of the first 141 mixed income housing units of Imani Village (Phases 1 and 2) were completed in fall 2022 and summer 2023, respectively. The Teen Warehouse, created in 2018, opened in 2021 and now serves over 200 teens annually with workforce development and enrichment programs; KCC has doubled the number served through its Early Learning Academy, youth, family and senior programs. During the Covid-19 pandemic and Hurricane Ida flooding in 2021, REACH mobilized and delivered vital relief efforts for the entire community.
Over the next eight years the plan calls for: the completion of Imani Village in five phases, creating 552 additional units of mixed income housing and up to 100 units of homes for ownership; building a new, 80,000SF Kingswood Community Center facility to replace the current aging 17,000SF facility; implementation of the RESTORE program (Real Estate Strategies To Obtain Racial Equity) where catalyst properties will be purchased and developed to provide community serving amenities and home ownership opportunities; and supportive and enriching programs for all ages will be provided with outstanding quality, responsiveness and positive outcomes. The WRK Group and its partners have raised $254 million for this 14-year project, including a $50 million HUD Choice Neighborhoods Implementation grant.
What are the organization's key strategies for making this happen?
Aspirational Goals & Primary Outcomes
o Families have access to high quality, long-term, mixed income affordable housing yielding
social connectiveness vital to economic transformation
▪ At least 80% of the existing Riverside families residing within the community at the
inception of the initiative (2017) become housed in Imani Village – 238
families by end of 2028
o The built environment supports the community through the promotion of developing
commercial choice and creating equitable communal investments by community members
▪ 40 acres of underutilized property will be converted into community serving
properties by 2033
o Promote community wealth creation by access to affordable home ownership
▪ 100 homes facilitated by REACH will be acquired within the community
What are the organization's capabilities for doing this?
REACH Riverside is a promising example of a neighborhood place-based partnership that is employing a holistic approach that utilizes a broad network of partners, all focused on the highest need area of the city. Specifically, REACH has:
Built strong relationship at all levels of government.
Innovated around responsible land acquisition.
Effectively braided public and private funding to support the work.
Incorporated youth and community voice into organization leadership and programming.
Leveraged a broad network of partners to support programming and built environment.
What have they accomplished so far and what's next?
The REACH Riverside Development Corporation was formed in 2017 to remove the barriers to prosperity and well-being facing Wilmington, Delawares Riverside neighborhood, an impoverished community (47.5% of households in poverty) experiencing the devastating impacts of decades of discrimination and neglect. REACH is leading implementation of the Purpose Built Communities revitalization model, a holistic approach focused on building mixed-income housing, education and health initiatives.
In 2019 REACH began development of a transformation plan for Riverside. The plan calls for the replacement of 273 dilapidated public housing units with 693 mixed income housing units to create Imani Village; up to 100 home ownership opportunities with financial education to support success; provision of economic mobility programs to residents; expansion of high quality early learning education; the provision of high quality K-12 education and out-of-school programming for children and youth; improved access to primary healthcare and wellness resources; and neighborhood economic development and job creation.
REACH has made remarkable progress in just five years: construction of the first 141 mixed income housing units of Imani Village (Phases 1 and 2) were completed in fall 2022 and summer 2023, respectively. The Teen Warehouse, created by REACH in 2018, now serves over 200 teens annually with workforce development and enrichment programs; REACH's service partner, Kingswood Community Center, has doubled the number served through its Early Learning Academy, youth, family and senior programs. During the Covid-19 pandemic and Hurricane Ida flooding in 2021, REACH mobilized and delivered vital relief efforts for the entire community.
Over the next eight years the plan calls for the completion of Imani Village in five phases, creating 552 additional units of mixed income housing and up to 100 units of homes for ownership; building a new, 80,000SF Kingswood Community Center; economic development and neighborhood improvements; all bolstered with supportive programs for all ages.
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
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Which of the following feedback practices does your organization routinely carry out?
We collect feedback from the people we serve at least annually, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We share the feedback we received with the people we serve
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What challenges does the organization face when collecting feedback?
It is difficult to get the people we serve to respond to requests for feedback, It is difficult to find the ongoing funding to support feedback collection, Staff find it hard to prioritize feedback collection and review due to lack of time
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2022 info
10.71
Months of cash in 2022 info
15
Fringe rate in 2022 info
31%
Funding sources info
Assets & liabilities info
Financial data
REACH RIVERSIDE DEVELOPMENT CORPORATION
Revenue & expensesFiscal Year: Jan 01 - Dec 31
REACH RIVERSIDE DEVELOPMENT CORPORATION
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of REACH RIVERSIDE DEVELOPMENT CORPORATION’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
Profitability info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Unrestricted surplus (deficit) before depreciation | $254,071 | $757,363 | $2,399,135 | -$44,155 | $1,157,219 |
As % of expenses | 210.1% | 145.7% | 109.1% | -0.3% | 25.1% |
Unrestricted surplus (deficit) after depreciation | $254,071 | $755,630 | $2,393,525 | -$53,394 | $1,135,781 |
As % of expenses | 210.1% | 144.9% | 108.6% | -0.3% | 24.5% |
Revenue composition info | |||||
---|---|---|---|---|---|
Total revenue (unrestricted & restricted) | $1,375,074 | $1,458,953 | $4,546,690 | $42,220,664 | $5,546,972 |
Total revenue, % change over prior year | 0.0% | 6.1% | 211.6% | 828.6% | -86.9% |
Program services revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Investment income | 0.0% | 0.1% | 0.0% | 0.0% | 2.7% |
Government grants | 72.7% | 68.5% | 6.6% | 91.0% | 0.0% |
All other grants and contributions | 27.3% | 31.4% | 93.4% | 9.0% | 97.3% |
Other revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Expense composition info | |||||
---|---|---|---|---|---|
Total expenses before depreciation | $120,929 | $519,732 | $2,199,244 | $15,347,646 | $4,617,898 |
Total expenses, % change over prior year | 0.0% | 329.8% | 323.1% | 597.9% | -69.9% |
Personnel | 25.6% | 48.8% | 17.0% | 5.0% | 27.8% |
Professional fees | 0.0% | 16.8% | 0.0% | 0.0% | 0.0% |
Occupancy | 4.1% | 3.5% | 0.2% | 0.1% | 0.6% |
Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% |
Pass-through | 0.0% | 0.0% | 6.8% | 0.0% | 0.0% |
All other expenses | 70.2% | 31.0% | 76.0% | 94.9% | 71.4% |
Full cost components (estimated) info | 2018 | 2019 | 2020 | 2021 | 2022 |
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Total expenses (after depreciation) | $120,929 | $521,465 | $2,204,854 | $15,356,885 | $4,639,336 |
One month of savings | $10,077 | $43,311 | $183,270 | $1,278,971 | $384,825 |
Debt principal payment | $0 | $0 | $0 | $0 | $0 |
Fixed asset additions | $0 | $25,488 | $0 | $55,928 | $46,440 |
Total full costs (estimated) | $131,006 | $590,264 | $2,388,124 | $16,691,784 | $5,070,601 |
Capital structure indicators
Liquidity info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Months of cash | 131.9 | 30.4 | 12.9 | 3.4 | 15.0 |
Months of cash and investments | 131.9 | 30.4 | 12.9 | 3.4 | 84.5 |
Months of estimated liquid unrestricted net assets | 32.7 | 24.5 | 19.0 | 2.7 | 11.9 |
Balance sheet composition info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Cash | $1,329,145 | $1,316,915 | $2,360,449 | $4,303,943 | $5,769,704 |
Investments | $0 | $0 | $0 | $0 | $26,764,637 |
Receivables | $0 | $900,000 | $2,521,461 | $27,377,616 | $429,186 |
Gross land, buildings, equipment (LBE) | $0 | $25,488 | $25,488 | $81,416 | $127,856 |
Accumulated depreciation (as a % of LBE) | 0.0% | 6.8% | 28.8% | 20.4% | 29.7% |
Liabilities (as a % of assets) | 0.0% | 2.8% | 6.0% | 1.0% | 1.6% |
Unrestricted net assets | $329,071 | $1,084,701 | $3,478,226 | $3,424,832 | $4,560,613 |
Temporarily restricted net assets | $1,000,074 | N/A | N/A | N/A | N/A |
Permanently restricted net assets | $0 | N/A | N/A | N/A | N/A |
Total restricted net assets | $1,000,074 | $1,181,932 | $1,130,243 | $28,047,416 | $28,037,316 |
Total net assets | $1,329,145 | $2,266,633 | $4,608,469 | $31,472,248 | $32,597,929 |
Key data checks
Key data checks info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Principal Officer
Logan Herring
Number of employees
Source: IRS Form 990
REACH RIVERSIDE DEVELOPMENT CORPORATION
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
REACH RIVERSIDE DEVELOPMENT CORPORATION
Board of directorsas of 08/01/2024
Board of directors data
Charles McDowell
Chip Rossi
Bank of America
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
No data
Disability
No data
Equity strategies
Last updated: 06/24/2024GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We review compensation data across the organization (and by staff levels) to identify disparities by race.
- We ask team members to identify racial disparities in their programs and / or portfolios.
- We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
- We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
- We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
- We disaggregate data by demographics, including race, in every policy and program measured.
- We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
- We use a vetting process to identify vendors and partners that share our commitment to race equity.
- We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We have community representation at the board level, either on the board itself or through a community advisory board.
- We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
- We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.
Contractors
Fiscal year endingProfessional fundraisers
Fiscal year endingSOURCE: IRS Form 990 Schedule G