DOWNTOWN RIVERFRONT TRUST

EIN: 814619812 501(c)(3) Community Improvement

OMAHA, NE

Total Revenue
$398,352
Total Expenses
$516,036
Total Assets
$13,622,822
Net Assets
$313,706
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
NE
Principal Officer
RACHEL JACOBSON
Phone
4023913190
Tax Period
2024-01-01 to 2024-12-31

DOWNTOWN RIVERFRONT TRUST, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $398K in total revenue in fiscal year 2024. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $516K exceeded revenue, resulting in a 30% operating deficit.

Mission

DOWNTOWN RIVERFRONT TRUST, IN COLLABORATION WITH THE CITY OF OMAHA, THE METROPOLITAN ENTERTAINMENT & CONVENTION AUTHORITY (MECA) AND A RIVERFRONT REVITALIZATION COMMITTEE HAVE ASSUMED RESPONSIBILITY FOR THE PLANNING, DESIGN AND CONSTRUCTION OF THE NEW TRI-PARK COMPLEX ON THREE CITY OF OMAHA OWNED PROPERTIES CURRENTLY REFERRED TO AS LEWIS AND CLARK LANDING, HEARTLAND OF AMERICA PARK AND GENE LEAHY MALL. DRT IS RESPONSIBLE FOR SECURING PRIVATE DONATIONS FROM THE COMMUNITY TO FUND A PORTION OF THE DEVELOPMENT. MECA IS RESPONSIBLE FOR PAYING PROJECT EXPENSES AS WELL AS ACTIVATING, OPERATING AND MAINTAINING THE DEVELOPMENT. DUE TO THIS RELATIONSHIP, ALMOST ALL FUNDS RAISED BY DRT RELATING TO THIS PROJECT ARE SHOWN AS A GRANTS EXPENSE AND CONTRIBUTIONS PAYABLE TO MECA.

Program Service Accomplishments

Program 1
Expenses: $392,321

DOWNTOWN RIVERFRONT TRUST, IN COLLABORATION WITH THE CITY OF OMAHA, THE METROPOLITAN ENTERTAINMENT & CONVENTION AUTHORITY (MECA) AND A RIVERFRONT REVITALIZATION COMMITTEE HAVE ASSUMED RESPONSIBILITY...

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DOWNTOWN RIVERFRONT TRUST, IN COLLABORATION WITH THE CITY OF OMAHA, THE METROPOLITAN ENTERTAINMENT & CONVENTION AUTHORITY (MECA) AND A RIVERFRONT REVITALIZATION COMMITTEE HAVE ASSUMED RESPONSIBILITY FOR THE PLANNING, DESIGN AND CONSTRUCTION OF THE NEW TRI-PARK COMPLEX ON THREE CITY OF OMAHA OWNED PROPERTIES CURRENTLY REFERRED TO AS LEWIS AND CLARK LANDING, HEARTLAND OF AMERICA PARK AND GENE LEAHY MALL. DRT IS RESPONSIBLE FOR SECURING PRIVATE DONATIONS FROM THE COMMUNITY TO FUND A PORTION OF THE DEVELOPMENT. MECA IS RESPONSIBLE FOR PAYING PROJECT EXPENSES AS WELL AS ACTIVATING, OPERATING AND MAINTAINING THE DEVELOPMENT. DUE TO THIS RELATIONSHIP, ALMOST ALL FUNDS RAISED BY DRT RELATING TO THIS PROJECT ARE SHOWN AS A GRANTS EXPENSE AND CONTRIBUTIONS PAYABLE TO MECA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $371,608
Program Service Revenue $0
Investment Income $26,744
Other Revenue $0
TOTAL REVENUE $398,352

Expense Breakdown

Grants Paid $392,321
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $392,321
Other Expenses $123,715
TOTAL EXPENSES $516,036

Year-over-Year Comparison

2024 2023 Change
Revenue $398,352 $894,297 -0.6%
Expenses $516,036 $1,003,772 -0.5%
Net Income $-117,684 $-109,475 +0.1%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
N/A

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
4
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENNETH STINSON CHAIRMAN 1.00
Officer Director
$0 $0 $0
MOGENS C BAY DIRECTOR 1.00
Director
$0 $0 $0
W GARY GATES DIRECTOR 1.00
Director
$0 $0 $0
JACK KORALESKI DIRECTOR 1.00
Director
$0 $0 $0
RACHEL JACOBSON PRESIDENT 1.00
Officer
$0 $0 $0
DAN WATERS SECRETARY 1.00
Officer
$0 $0 $0
RANAE KECKEISEN TREASURER 1.00
Officer
$0 $0 $0
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
2024 $398,352 $516,036 $13,622,822 $-117,684
2023 $894,297 $1,003,772 $20,920,786 $-109,475
2022 $3,742,336 $3,979,303 $78,147,504 $-236,967
2021 $28,894,950 $29,016,111 $158,815,743 $-121,161
2020 $36,994,406 $37,325,882 $158,328,884 $-331,476
2019 $169,454,287 $168,554,468 $151,998,722 $899,819
2018 $60,661,607 $61,062,265 $58,293,994 $-400,658
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