2024-05-09T12:52:00-05:00 2023-06-30 223271712 MERCADIEN PC PO BOX 7648 PRINCETON NJ 085437648 990 2022-07-01 231734559 DELAWARE RIVER WATERFRONT CORPORATION DELA 2156293200 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 19106 LARRY BELL CHIEF FINANCIAL OFFICER 2156293200 2024-05-09 1 LARRY BELL 999009999 1 RAPHAEL J CARLETTI CPA P01747794 6096899700 2024-05-09 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LARRY BELL 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 19106 18570846 0 X WWW.DELAWARERIVERWATERFRONT.COM X 1970 PA DRWC'S MISSION IS TO MAINTAIN AND PROMOTE THE USE AND DEVELOPMENT OFTHE CITY OF PHILADELPHIA'S CENTRAL WATERFRONT. THIS TASK IS OF VITALIMPORTANCE TO THE CITY AND ONE WHICH THE CITY WOULD OTHERWISE BEREQUIRED TO PERFORM ITSELF ABSENT THE DRWC. 16 16 261 16 0 0 7394457 4957248 11618049 12500135 281770 477672 528760 580295 19823036 18515350 0 0 0 0 4580649 5748987 0 0 233359 13276006 11696049 17856655 17445036 1966381 1070314 138544770 52801701 107558919 43666370 30985851 9135331 DRWC'S MISSION IS TO MAINTAIN AND PROMOTE THE USE AND DEVELOPMENT OFTHE CITY OF PHILADELPHIA'S CENTRAL WATERFRONT. THIS TASK IS OF VITALIMPORTANCE TO THE CITY AND ONE WHICH THE CITY WOULD OTHERWISE BEREQUIRED TO PERFORM ITSELF ABSENT THE DRWC. 0 0 6987732 6000065 DRWC IS DEDICATED TO THE PLANNING, DESIGN, DEVELOPMENT AND MANAGEMENTOF THE CENTRAL DELAWARE RIVER WATERFRONT IN PHILADELPHIA, DEFINED ASTHE SIX MILE STRETCH OF THE CENTRAL DELAWARE, WHICH IS THE AREA DEFINEDBY OREGON AVENUE IN THE SOUTH OF ALLEGHENY AVENUE IN THE NORTH AND FROMI-95 TO THE DELAWARE RIVER. THE GOAL OF DRWC IS TO EFFECTUATE OVER TIMETHE TRANSFORMATION OF THE CENTRAL DELAWARE RIVER WATERFRONT INTO AVIBRANT DESTINATION LOCATION FOR THE RECREATIONAL, CULTURAL,PORT/INDUSTRIAL, AND COMMERCIAL ACTIVITIES OF PHILADELPHIA'S RESIDENTS,WORKERS AND VISITORS. 5823110 5000054 DRWC REMAINS STEADFAST IN ITS COMMITMENT TO FREE PUBLIC PROGRAMMING ON THE WATERFRONT AT PENN'S LANDING. ALL EVENTS PRODUCED BY DRWC ARE FREE TO THE PUBLIC. THE RIVER STAGE HOSTED A VARIETY OF NATIONAL ARTISTS IN THE ROCK, JAZZ, GOSPEL AND CLASSICAL GENRES AND ALSO WAS ABLE TOACCOMMODATE THE FULL PHILADELPHIA ORCHESTRA. PENN'S LANDING CONTINUES TO SERVE AS A FEATURED LOCATION FOR THE CITY'S INDEPENDENCE DAY CELEBRATION, HOSTING HIGH PROFILE WATERFRONT CONCERT WITH FIREWORKS. THE SUMMER PROGRAM SEASON INCLUDED DIFFERENT MULTICULTURAL SERIES CELEBRATING THE RICH DIVERSITY OF THE GREATER PHILADELPHIA REGION, MARQUEE CONCERTS FEATURING FAMILY ENTERTAINMENT, THE SOUNDS OF R&B AND JAZZ. 1746932 1500016 DRWC ENGAGES IN A VARIETY OF ACTIVITIES IN SUPPORT OF ITS MISSION, ON BEHALF OF THE CITY, OF MAINTAINING AND PROMOTING THE USE AND DEVELOPMENT OF CITY'S CENTRAL WATERFRONT, WHICH INCLUDES "BLUE CROSS RIVER RINK" AT PENN'S LANDING. IT IS A STANDARD OLYMPIC REGULATION SIZEICE RINK, DURING WINTER AND TURNED INTO A ROLLER SKATING RINK IN THE SUMMER, OPEN TO THE PUBLIC AS A RECREATIONAL AND EDUCATIONAL ARENA. SLED SKATING LESSONS ARE AVAILABLE FOR DISABLED CHILDREN. THE RINK IS OPEN FOR PUBLIC SKATING AND AVAILABLE TO SCHOOL GROUPS ON WEEKDAYS. THEOPERATION OF THESE SKATING RINKS RELIEVES THE CITY FROM HAVING TO OPERATE THE PUBLIC ARENA, WHICH IT WOULD OTHERWISE DO FOR THE GENERAL WELFARE OF ITS CITIZENS, INCLUDING THE MULTITUDE OF YOUNGER PEOPLE UTILIZING THIS FACILITY. 14557774 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 30 0 261 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X LARRY BELL 2156293200 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 19106 ALAN P HOFFMANN BOARD CHAIRMAN 1.00 X X 0 0 0 JAY R GOLDSTEIN BOARD VICE CHAIRMAN 1.00 X X 0 0 0 DIANE DALTO WOOSNAM DIRECTOR 1.00 X 0 0 0 MICHAEL DIBERARDINIS DIRECTOR 1.00 X 0 0 0 AVI D EDEN DIRECTOR 1.00 X 0 0 0 ANNE FADULLON DIRECTOR 1.00 X 0 0 0 BILL HANKOWSKY DIRECTOR 1.00 X 0 0 0 MICHAEL HAUPTMAN DIRECTOR 1.00 X 0 0 0 MARILYN JORDAN TAYLOR DIRECTOR 1.00 X 0 0 0 OBRA KERNODLE IV DIRECTOR 1.00 X 0 0 0 ANNE K NADOL DIRECTOR 1.00 X 0 0 0 MATT RUBEN DIRECTOR 1.00 X 0 0 0 DONN G SCOTT DIRECTOR 1.00 X 0 0 0 BILL WILSON DIRECTOR 1.00 X 0 0 0 ELLEN YIN DIRECTOR 1.00 X 0 0 0 MARIO ZACHARJASZ DIRECTOR 1.00 X 0 0 0 JOSEPH FORKIN PRESIDENT 40.00 X 244849 0 37925 JODIE MILKMAN EXECUTIVE VICE PRESIDENT 40.00 X 188198 0 52090 LAVELLE YOUNG VICE PRESIDENT, OPERATIONS 40.00 X 129096 0 20834 ELIZABETH WOODS VICE PRESIDENT, OPERATIONS 40.00 X 122679 0 20590 LARRY BELL CHIEF FINANCIAL OFFICER 40.00 X 160046 0 21500 844868 0 152939 5 0 1 0 JM PATTON ASSOC INC 1520 LOCUST ST SUITE 400 PHILADELPHIA PA 19103 INSURANCE BROKER 626501 RED HAWK PROTECTION SOLUTIONS LLC 325 CHESTNUT ST STE 800 PHILADELPHIA PA 191062608 SECURITY SERVICES 398191 MICHAELS CONSTRUCTION PO BOX 95 BROWNSVILLE WI 53006 DREDGING 234181 SAUL EWING ARNSTEIN & LEHR LLP 1500 MARKET STREET 38TH FLOOR PHILADELPHIA PA 19102 LEGAL 195974 WJ CASTLE PE & ASSOC PC 1345 NJ-38 WEST HAINESPORT NJ 08036 ENGINEERING SERVICES 188725 10 4957248 4957248 RENTAL INCOME 713990 10253873 10253873 SERVICE REVENUE 713990 2246262 2246262 12500135 477672 477672 274400 55496 218904 218904 MISC. INCOME 713990 361391 361391 361391 18515350 12500135 0 1057967 887065 160914 560984 165167 3557191 3433191 124000 260341 251266 9075 542704 523786 18918 501686 484198 17488 358777 358777 127072 127072 1416605 1133284 283321 402081 301561 80416 20104 713505 535129 142701 35675 932569 746055 186514 103689 82951 20738 167474 167474 15489 15489 1716824 1716824 ENGINEERING SERVICES 2466122 2466122 MAINTENANCE & SUPPLIES 1208364 1208364 ADMINISTRATIVE SERVICES 991640 991640 PERFORMANCE/SITE ACTIVI 620667 608254 12413 455171 364135 91036 17445036 14557774 2653903 233359 4237425 12201183 15749674 3589902 187116 73354 16183545 15065887 967387 1117658 6978688 4296241 110424480 31523363 138544770 52801701 5809410 3422650 12077024 8843538 4290100 3217283 85382385 28182899 107558919 43666370 X 30985851 8896333 238998 30985851 9135331 138544770 52801701 X 1070314 -650639 -22270194 -1 X X 0 1 X 1 0 X 12330724 12249145 15600197 7394457 4957248 52531771 11255368 8487493 8009882 11618049 12500135 51870927 23586092 20736638 23610079 19012506 17457383 104402698 474375 726225 1200600 255022 106493 242999 108521 461584 1174619 729397 832718 242999 108521 461584 2375219 102027479 169577 369660 281770 477672 1298679 169577 369660 281770 477672 1298679 87736 49029 744576 335423 361391 1578155 23843405 20785667 24724315 19629699 18296446 107279532 0.95100 0.95010 0.01210 0.00780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 575000 575000 4112394 4112394 0 5255169 4951817 303352 6240982 6001676 239306 1117658 DEFERRED CHARGES PENSION 2405364 RIGHT OF USE ASSET 71610 LEASE RECEIVABLE 29046389 31523363 SECURITY DEPOSITS 180384 OTHER POST-EMPLOYMENT BENEFITS LIABILITY 132883 DEFERRED PENSION CREDIT 1182522 LEASE PAYABLE 71135 DEFERRED INFLOW LEASES 25124204 NET PENSION LIABILITY 1487533 ADVANCES PAYABLE 4238 28182899 X 17864711 -650639 -650639 18515350 0 18515350 17445036 0 17445036 0 17445036 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAX AS A NON-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THESE FINANCIAL STATEMENTS. PART XII, LINE 2D - OTHER ADJUSTMENTS: AMORTIZATION ON REVENUE PROMENADE 274400 274400 30875 10995 6160 7466 274400 274400 30875 10995 6160 7466 55496 218904 X 0 0 0 0 0 0 0 0 0 JOSEPH FORKIN PRESIDENT 244849 0 0 0 0 0 0 0 37925 0 282774 0 0 0 JODIE MILKMAN EXECUTIVE VICE PRESIDENT 188198 0 0 0 0 0 0 0 52090 0 240288 0 0 0 LARRY BELL CHIEF FINANCIAL OFFICER 160046 0 0 0 0 0 0 0 21500 0 181546 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS SHALL HAVE AN EXECUTIVE COMMITTEE WHICH SHALL CONSIST OF FIVE (5) DIRECTORS AS FOLLOWS: THE COMMERCE DIRECTOR OF THE CITY OF PHILADELPHIA; THE PRESIDENT OF THE PHILADELPHIA INDUSTRIAL DEVELOPMENT CORPORATION (OR DESIGNEE); THE CEO OF THE GREATER PHILADELPHIA CHAMBER OF COMMERCE (OR DESIGNEE); AND TWO DIRECTORS TO BE ELECTED BY THE THREE (3) CLASS A DIRECTORS SERVING ON THE EXECUTIVE COMMITTEE. NOMINATING AUTHORITY VESTED IN EXECUTIVE COMMITTEE SHALL ALSO HAVE THE EXCLUSIVE AUTHORITY AND RESPONSIBILITY TO NOMINATE AND RECOMMEND TO THE BOARD OF DIRECTORS ALL PERSONS TO BE ELECTED AS CLASS B DIRECTORS AND ALL PERSONS TO FILL THE POSITIONS AS OFFICERS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE VICE PRESIDENT OF FINANCE AND HUMAN SERVICES SHALL ENSURE THAT GOVERNMENT-ORDERED PAYMENTS OR FILINGS ARE FILED IN A TIMELY AND ACCURATE MANNER. THE VICE PRESIDENT OF FINANCE AND HUMAN SERVICES SHALL SIGN AND CERTIFY THAT THE IRS FORM 990 IS ACCURATE AND COMPLETE. THE BUDGET/PERSONNEL COMMITTEE SHALL REVIEW AND APPROVE THE IRS FORM 990 ANNUAL TAX FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL THE BOARD MEMBERS, EMPLOYEES, MANAGEMENT ARE COVERED UNDER THE CONFLICT OF INTEREST POLICY CURRENTLY IN PLACE. PRESIDENT IS INVOLVED IN REVIEWING ALL THE CONFLICTS ALONG WITH THE ETHICS COMMITTEE. IF CONFLICTS ARE DISCOVERED, THE INDIVIDUAL ABSTAINS FROM VOTING OR BEING A PART OF THE DECISION-MAKING PROCESS WITH REGARD TO THE TRANSACTION. DISCLOSURE OF POSSIBLE CONFLICTS SHOULD BE COMPLETED WITHIN A REASONABLE TIME OF THE BEGINNING OF EMPLOYMENT OR BEGINNING SERVICE ON THE BOARD. INDIVIDUALS COVERED UNDER THE POLICY REMAIN UNDER AN ONGOING OBLIGATION TO DISCLOSE ANY POSSIBLE CONFLICTS WITHIN A REASONABLE TIME OF BECOMING AWARE OF THE POTENTIAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE PRESIDENT IS DETERMINED BY THE BOARD OF DIRECTORS ANNUALLY. COMPENSATION OF KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT PURSUANT TO A BUDGET THAT IS SUBMITTED TO AND APPROVED BY THE BOARD OF DIRECTORS. THE COMPENSATION ARRANGEMENT FOR EACH RECIPIENT IS CONSISTENT WITH INDUSTRY PRACTICES AND MARKET RATES BASED UPON AN INDEPENDENT REPORT. THE REPORT STATES THAT THE CURRENT COMPENSATION STRUCTURE IS GENERALLY COMPARABLE TO PRACTICES AMONG TAX-EXEMPT ORGANIZATIONS OF SIMILAR SIZE AND TYPE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS CAN BE FOUND ON DELAWARE RIVER WATERFRONT CORPORATION'S WEBSITE. CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING -1. FORM 990 PART XII, LINE 2C THE ORGANIZATION HAS NTO CHANGED ITS OVERSIGHT PROCESS DURING THE TAX YEAR. PENN'S LANDING LLC 121 N COLUMBUS BLVD PHILADELPHIA PA 19106 161690006 HOLD PA LIQUOR LICENSE FOR SALES AT PENN'S LANDING WATERFRONT PA 1329436 11870674 DELAWARE RIVER WATERFRONT CORPORATION DRWC LAND CONSERVANCY 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 19106 470977797 PRESERVAION OF LAND AND PROTECTION OF THE NATURAL ENVIRONMENT PA 501(C)(3) LINE 7 DELAWARE RIVER WATERFRONT CORPORATION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0