THE RIVERCITY COMPANY

EIN: 621273871 501(c)(3) Community Improvement

CHATTANOOGA, TN

Total Revenue
$2,154,114
Total Expenses
$1,935,305
Total Assets
$24,762,934
Net Assets
$24,241,108
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
TN
Principal Officer
EMILY MACK
Phone
4232653700
Tax Period
2023-07-01 to 2024-06-30

THE RIVERCITY COMPANY, founded in 1986, is a community nonprofit in the Community Improvement sector that reported $2.2M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $1.9M left a modest 10% surplus.

Mission

THE RIVERCITY COMPANY'S MISSION IS TO ASSIST AND SUPPORT THE CHATTANOOGA CITY AND HAMILTON COUNTY GOVERNMENTS BY PROMOTING AND MANAGING THE DEVELOPMENT OF A VIBRANT, ATTRACTIVE AND HEALTHY DOWNTOWN THAT IS THE ECONOMIC, SOCIAL AND CULTURAL CENTERPIECE OF THE CHATTANOOGA REGION. THE RIVERCITY COMPANY ACCOMPLISHES THIS BY OVERSEEING DEVELOPMENT OF DOWNTOWN REAL ESTATE, MAKING AND PROGRAMMING GREAT URBAN SPACES, AND EMPLOYING CREATIVE URBAN DESIGN. ITS PRIMARY STRATEGIC AREAS FOR PROJECTS AND INITIATIVES ARE: (I) CONTINUING THE ONE RIVERFRONT PLAN IN THE RIVERFRONT DISTRICT, (II) REINVIGORATING THE HISTORIC COMMERCIAL CORE IN THE CITY CENTER DISTRICT, AND (III) BRINGING MORE RESIDENTS TO ALL AREAS OF DOWNTOWN THROUGH CATALYZING A FULL RANGE OF DOWNTOWN HOUSING.

Program Service Accomplishments

Program 1
Expenses: $262,291

EVOLVING OUR RIVERFRONT PARKS: THE FIRST PHASE OF THE ONE RIVERFRONT PLAN THROUGH COMMUNITY INPUT SEES THE FOUNDATION OF THE ONE RIVERFRONT PLAN IS TO HUMANIZE THE PARKS AND GREEN SPACE ON THE...

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EVOLVING OUR RIVERFRONT PARKS: THE FIRST PHASE OF THE ONE RIVERFRONT PLAN THROUGH COMMUNITY INPUT SEES THE FOUNDATION OF THE ONE RIVERFRONT PLAN IS TO HUMANIZE THE PARKS AND GREEN SPACE ON THE RIVERFRONT. BUILDING UPON THE LEGACY AND DESIGN OF THE 21ST CENTURY WATERFRONT, WE WILL EVOLVE AND ENHANCE OUR RIVERFRONT PARKS FOR RESIDENTS AND VISITORS TO EXPERIENCE AND ENJOY BEAUTIFUL, COMFORTABLE AND EXCITING PARK SPACES. THE "EVOLVING OUR RIVERFRONT PARKS" PLAN IS A SERIES OF ENHANCEMENTS THAT WILL HONOR HISTORY, CONNECT CORRIDORS IN THE DISTRICT, EMBRACE ECOLOGY, SOFTEN AND PROVIDE SHADE, ALONG WITH USING THE INSPIRATION OF A SOUTHERN PORCH FOR AREAS ALONG THE RIVER.

Program 2
Expenses: $218,703

ROCK THE RIVERFRONT: TO RESPOND TO THE FEEDBACK AND DESIRES OF THE COMMUNITY PROVIDED THROUGH THE ONE RIVERFRONT PLAN, THE RIVERCITY COMPANY TEAM CREATED "ROCK THE RIVERFRONT", A MONTH-LONG...

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ROCK THE RIVERFRONT: TO RESPOND TO THE FEEDBACK AND DESIRES OF THE COMMUNITY PROVIDED THROUGH THE ONE RIVERFRONT PLAN, THE RIVERCITY COMPANY TEAM CREATED "ROCK THE RIVERFRONT", A MONTH-LONG CELEBRATION OF CULTURE, ENTERTAINMENT AND PLAY FOR ALL TO ENJOY ON THE CHATTANOOGA GREEN. ROCK THE RIVERFRONT'S MAIN ATTRACTION WAS LOOP, AN INTERACTIVE ART THAT EMPHASIZED STORYTELLING AND ANIMATION. OTHER EVENTS INCLUDED DJS EVERY FRIDAY, LIVE MUSIC ON SATURDAYS, WEEKEND LOCAL POP-UP VENDORS, LIGHT UP CHATT LANTERN PARADE, THE MAGIC OF CINEMA AND A MAKERS FAIR.

Program 3
Expenses: $123,967

FUTURE OF HAWK HILL: WITH THE ANTICIPATED RELOCATION OF THE CHATTANOOGA LOOKOUTS BASEBALL TEAM FROM AT&T FIELD TO THE U.S. PIPE & WHELAND FOUNDRY SITE, HAWK HILL WILL BECOME AVAILABLE FOR...

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FUTURE OF HAWK HILL: WITH THE ANTICIPATED RELOCATION OF THE CHATTANOOGA LOOKOUTS BASEBALL TEAM FROM AT&T FIELD TO THE U.S. PIPE & WHELAND FOUNDRY SITE, HAWK HILL WILL BECOME AVAILABLE FOR REDEVELOPMENT. PER THE LAND TRANSFER AGREEMENT WITH THE CITY OF CHATTANOOGA ONCE THE CHATTANOOGA LOOKOUTS HAVE RELOCATED TO THE NEW STADIUM. RIVERCITY COMPANY ALONG WITH THE CITY, COMMUNITY INPUT, URBAN PLANNERS AND DOWNTOWN STAKEHOLDERS WILL WORK TO ASSIST IN DEVELOPING A COMPREHENSIVE, LONG-TERM VISION FOR THE SITE TO GUIDE FUTURE REDEVELOPMENT. WITH THIS INFORMATION, RIVERCITY COMPANY WILL EXPLORE POTENTIAL LAND USES, DENSITY, PUBLIC SPACES, CONNECTIVITY, AND THE NECESSARY INFRASTRUCTURE TO SUPPORT FUTURE REDEVELOPMENT.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $350,900
Program Service Revenue $122,400
Investment Income $334,816
Other Revenue $1,345,998
TOTAL REVENUE $2,154,114

Expense Breakdown

Grants Paid $6,015
Salaries & Benefits $834,625
Fundraising Expenses $0
Program Expenses $1,285,589
Other Expenses $1,094,665
TOTAL EXPENSES $1,935,305

Year-over-Year Comparison

2023 2022 Change
Revenue $2,154,114 $2,411,061 -0.1%
Expenses $1,935,305 $2,078,117 -0.1%
Net Income $218,809 $332,944 -0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
18
Independent Members
14
Employees
20
Volunteers
200

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$380,568
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENNIFER GOODMAN CHAIRWOMAN 1.00
Officer Director
$0 $0 $0
ROY VAUGHN VICE CHAIR 1.00
Officer Director
$0 $0 $0
MARTHA CULP MILLENER SECRETARY 1.00
Officer Director
$0 $0 $0
MARTHA LEIPER TREASURER 1.00
Officer Director
$0 $0 $0
ALNOOR DHANANI VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
REBECCA ASHFORD DIRECTOR 1.00
Director
$0 $0 $0
JOHAN DE NYSSCHEN DIRECTOR 1.00
Director
$0 $0 $0
COUNCILWOMAN RAQUETTA DOTLEY DIRECTOR 1.00
Director
$0 $0 $0
BRENT GOLDBERG DIRECTOR 1.00
Director
$0 $0 $0
LESLIE GOWER DIRECTOR 1.00
Director
$0 $0 $0
ALTHEA JONES DIRECTOR 1.00
Director
$0 $0 $0
MAYOR WESTON WAMP DIRECTOR 1.00
Director
$0 $0 $0
MAYOR TIM KELLY DIRECTOR 1.00
Director
$0 $0 $0
COMMISSIONER DAVID SHARPE DIRECTOR 1.00
Director
$0 $0 $0
JAMES MCKISSIC DIRECTOR 1.00
Director
$0 $0 $0
DAVID WADE DIRECTOR 1.00
Director
$0 $0 $0
BARRY WHITE DIRECTOR 1.00
Director
$0 $0 $0
CHARLES WOOD DIRECTOR 1.00
Director
$0 $0 $0
JIM WILLIAMSON VICE PRESIDENT 40.00
Officer
$117,326 $13,303 $130,629
EMILY MACK PRESIDENT 40.00
Officer
$239,703 $10,236 $249,939
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $2,154,114 $1,935,305 $24,762,934 $218,809
2023 $2,411,061 $2,078,117 $24,591,593 $332,944
2022 $2,204,102 $1,776,788 $24,107,323 $427,314
2021 $2,878,741 $3,572,072 $25,545,530 $-693,331
2020 $3,952,333 $2,431,896 $26,242,832 $1,520,437
2019 $2,305,211 $2,405,406 $25,385,026 $-100,195
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