2026-05-04T10:11:32-04:00 2025-06-30 HORSEY BUCKNER & HEFFLER LLP 4548 MARKET ST STE 219 PHILADELPHIA PA 19139 990 2024-07-01 231734559 DELAWARE RIVER WATERFRONT CORPORATION % LARRY BELL DELA 2156293200 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 19106 LARRY BELL CFO 2156293200 2026-05-04 true true MICHAEL G HORSEY CPA P01045518 2675708550 2026-05-04 2024 2025-03-06 01:10:19Z LARRY BELL 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 19106 18405215 false X www.delawareriverwaterfront.com X 1970 PA DRWC'S MISSION IS TO MAINTAIN AND PROMOTE THE USE AND DEVELOPMENT OF THE CITY OF PHILA'S WATERFRONT. THIS TASK IS OF VITAL IMPORTANCE TO THE CITY AND ONE WHICH THE CITY WOULD OTHER- WISE BE REQUIRED TO PERFORM ITSELF ABSENT THE DRWC. 16 16 304 16 0 6367568 6279879 10054837 10424393 513760 764396 554946 936547 17491111 18405215 0 0 0 0 6384231 7738879 0 0 422940 11413647 11933380 17797878 19672259 -306767 -1267044 60538833 94849179 48821610 83787538 11717223 11061641 DRWC'S MISSION IS TO MAINTAIN AND PROMOTE THE USE AND DEVELOPMENT OF THE CITY OF PHILADELPHIA'S WATERFRONT. THIS TASK IS OF VITAL IMPORTANCE TO THE CITY AND ONE WHICH THE CITY WOULD OTHERWISE BE RQUIRED TO PERFORM ABSENT THE DRWC. 10906624 DRWC IS DEDICATED TO THE PLANNING, DESIGN, DEVELOPMENT AND MANAGEMENT OF THE CENTRAL DELAWARE RIVER WATERFRONT IN PHILADELPHIA, DEFINED AS THE SIX-MILE STRETCH OF THE CENTRAL DELAWARE, WHICH IS THE AREA DEFINED BY ORGON AVENUE IN THE SOUTH OF ALLEGHENY AVENUE IN THE NORTH AND FROM I-95 TO THE DELAWARE RIVER. THE GOAL OF DRWC IS TO EFFECTUATE OVER TIME THE TRANSFORMATION OF THE CENTRAL DELAWARE RIVER WATERFRONT INTO A VIBRANT DESTINATION LOCATION FOR THE RECREATIONAL, CULTURAL, PORT/INDUSTRIAL AND COMMERCIAL ACTIVITIES OF PHILADELPHIA'S RESIDENTS, WORKERS AND VISITORS. 1677942 DRWC REMAINS STEADFAST IN ITS COMMITMENT TO FREE PUBLIC PROGRAMING 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 TO ACCOMMODATE 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. 4194855 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 ROSS RIVER RINK" AT PENN'S LANDING. IT IS A STANDARD OLYMPIC REGULATIONS SIZE ICE RINK, DURING THE 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 OPERATION OF THESE SKATING RINKS RELIEVES THE CITY OF FROM HAVING TO OPERATE THE PUBLIC ARENA, WHICH IT WOULD OTHERWISE DO THE GENERAL WELFARE OF ITS CITIZENS, INCLUDING THE MULTITUDE OF YOUNGER PEOPLE UTILIZING THIS FACILITY. 16779421 true true false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false false false true true false false true 33 0 304 true false false false false false false false false false false X 16 16 false false false false false true false true true false false true true true true true true true true false PA LARRY BELL 2156293200 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 19106 JOSEPH FORKIN PRESIDENT 40.0 0.0 X 310426 0 63528 JODIE MILKMAN EXECUTIVE VICE PRESIDENT 40.0 0.0 X 189821 0 52821 LARRY BELL CHIEF FINANCIAL OFFICER 40.0 0.0 X 162977 0 25233 LAVELLE YOUNG VICE PRESIDENT-OPERATIONS 40.0 0.0 X 131231 0 24690 ELIZABETH WOODS VICE PRESIDENT - OPERATIONS 40.0 0.0 X 125820 0 23789 JAY R GOLDSTEIN BOARD CHAIRMAN/TREASURER 1.0 0.0 X X 0 0 0 OBRA KERNODLE IV BOARD VICE CHAIRMAN 1.0 0.0 X X 0 0 0 BILL HANKOWSKY SECRETARY 1.0 0.0 X X 0 0 0 MIKE DIBERARDINIS DIRECTOR 1.0 0.0 X 0 0 0 DIANE DALTO WOOSNAM DIRECTOR 1.0 0.0 X 0 0 0 AVI EDEN DIRECTOR 1.0 0.0 X 0 0 0 JOHN MONDLAK DIRECTOR 1.0 0.0 X 0 0 0 BILL HANKOWSKY DIRECTOR 1.0 0.0 X 0 0 0 MICHAEL HAUPTMAN DIRECTOR 1.0 0.0 X 0 0 0 ANGELA VAL DIRECTOR 1.0 0.0 X 0 0 0 MARILYN JORDAN TAYLOR DIRECTOR 1.0 0.0 X 0 0 0 MATT RUBEN DIRECTOR 1.0 0.0 X 0 0 0 DONN SCOTT DIRECTOR 1.0 0.0 X 0 0 0 BILL WILSON DIRECTOR 1.0 0.0 X 0 0 0 ELLEN YIN DIRECTOR 1.0 0.0 X 0 0 0 MARIO ZACHARJASZ DIRECTOR 1.0 0.0 X 0 0 0 KAREN FEGELY DIRECTOR 1.0 0.0 X 0 0 0 920275 0 190061 5 false true false AP CONSTRUCTION INC 915 SOUTH BLACK HORSE PIKE BLACKWOOD NJ 08012 CONSTRUCTION 2083730 EASTERN LLC 13 SUMMIT SQUARE CENTER 200 LANGHORNE PA 19047 LANDSCAPING 1000933 RED HAWK PROTECTION SOLUTIONS LLC PO BOX 168688 IRVING TX 75016 SECURITY 1703313 JM PATTON ASSOCIATES INC 1520 LOCUST STREET SUITE 400 PHILADELPHIA PA 19102 INSURANCE 1252335 COBRA ELECTRIC PO BOX 383 BENSALEM PA 19020 REPAIRS & MAINT 600493 6 6279879 0 6279879 RENTAL INCOME 713990 8320471 8320471 SERVICE REVENUE 713990 2103922 2103922 10424393 764396 764396 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MISC. REVENUES 713990 936547 936547 936547 18405215 12125336 0 0 0 0 814985 65750 540717 208518 0 4484876 4260632 224244 944575 912459 32116 1120808 1049655 71153 373635 354953 18682 0 236370 236370 190288 190288 351600 228540 123060 0 0 716609 573287 143322 949911 712433 189982 47496 559209 419407 111842 27960 237605 190084 47521 0 913958 731167 182791 15251 12201 3050 0 0 18715 18715 0 371935 371935 1307222 1307222 ENGINEERING SERVICES 23118 23118 PERFORMANCE/SITE ACTIVITY 795286 779380 15906 MAINTENANCE & SUPPLIES 1675353 1675353 OTHER EXPENSES 3570950 2856760 714190 19672259 16779421 2469898 422940 0 0 12383140 32782496 0 0 4687210 2793806 0 0 0 0 0 0 0 0 65041 25000 14752662 626972 8210655 14125690 4295267 15084724 0 0 0 0 0 0 30897520 30037463 60538833 94849179 3115058 4148387 0 0 15345557 50543011 0 0 0 0 0 0 0 0 944889 850289 29416106 28245851 48821610 83787538 X 11717223 11061641 0 0 11717223 11061641 60538833 94849179 X -1267044 611462 X false false X 15600197 7394457 4957248 6367568 6279879 40599349 8009882 11618049 12500135 10666299 10424393 53218758 0 0 0 23610079 19012506 17457383 17033867 16704272 93818107 255000 255000 242999 108521 436392 787912 242999 108521 436392 255000 1042912 92775195 369660 281770 477672 611291 764396 2504789 0 369660 281770 477672 611291 764396 2504789 0 744576 335423 361391 327289 936547 2705226 24724315 19629699 18296446 17972447 18405215 99028122 0.93686 0.94640 0.02529 0.01720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6572944 6572944 2214148 169282 2044866 5965570 457690 5507880 14125690 LEASE RECEIVABLE 28580842 RIGHT OF USE ASSETS 30572 DEFERRED CHARGES PENSION 1201960 NET PENSION ASSET 224089 30037463 0 SECURITY DEPOSITS 180384 OPEB LIABILITY 709195 DEFERRED PENSION CREDIT 1557659 LEASE PAYABLE 6756 DEFERRED INFLOW LEASES 25787059 NET PENSION LIABILITY 0 ADVANCES PAYABLE 4798 28245851 X 19016677 611462 611462 18405215 18405215 19672259 19672259 19672259 PART XI, LINE 2D - OTHER ADJUSTMENTS LEASE AMORTIZATION - $611,462 PART X, LINE 2 THE CORPORATION IS EXEMPT FROM INCOME TAX AS A NON-PROFIT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THESE FINANCIAL STATEMENTS. X false false false false false false false JOSEPH FORKIN PRESIDENT 310426 22500 41028 373954 JODIE MILKMAN EXECUTIVE VICE PRESIDENT 189821 3796 49025 242642 LAVELLE YOUNG VICE PRESIDENT-OPERATIONS 131231 2625 22065 155921 ELIZABETH WOODS 125820 2516 21273 149609 LARRY BELL CHIEF FINANCIAL OFFICER 162977 3260 21973 188210 FORM 990, PART I, LINE 1 THE CITY OF PHILADELPHIA'S CENTRAL WATERFONT. THIS TASK IS OF VITAL IMPORTANCE TO THE CITY AND ONE WHICH THE CITY WOULD OTHERWISE BE REQUIRED TO PERFORM ITSELF ABSENT THE DRWC. 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 DELAWARE RIVER WATERFRONT CORPORATION AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS DURING THE TAX YEAR. FORM 990, PART XI, LINE 9 LEASE AMORTIZATION - $611,462 PENN'S LANDING LLC 121 N COLUMBUS BLVD PHILADELPHIA PA 19106 161690006 HOLD PA LIQUI PA 1294503 12846776 DELAWARE RIV DRWC LAND CONSERVANCY 121 N COLUMBUS BLVD PHILADELPHIA PA 19106 470977797 PRESERVATION PA 501(C) (3) LINE 7 DELAWARE RIV true false false false false false false false false false false false false false false true false false false false IDENTIFICATION OF DISREGARDED ENTITITES: PART I, IDENTIFICATION OF DISREGARDED ENTITIES: NAME, ADDRESS, AND EIN OF DISREGARDED ENTITY: PENN'S LANDING, LLC EIN: 16-1690006 121 N. COLUMBUS BLVD PHILADELPHIA, PA 19106 PRIMARY ACTIVITY: HOLD PA LIQUOR LICENSE FOR SALES AT PENN'S LANDING WATERFRONT DIRECT CONTROLLING ENTITY: DELAWARE RIVER WATERFRONT CORPORATION PART II IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS NAME, ADDRESS, AND EIN OF RELATED ORGANIZATION: DRWC LAND CONSERVANCY EIN: 47-0977797 121 N. COLUMBUS BOULEVARD PHILADELPHIA, PA 19106 PRIMARY ACTIVITY: PRESERVAION OF LAND AND PROTECTION OF THE NATURAL ENVIRONMENT DIRECT CONTROLLING ENTITY: DELAWARE RIVER WATERFRONT CORPORATION