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Delaware River Waterfront Corporation

EIN 23-1734559 · Philadelphia, PA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak36 out of 100GovernanceGood85 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$18.4 million
Spending
$19.7 million
Spent on programs
85%
Reserves
-1.9 months of spending
Largest source of income
fees for its services, 57%
Employees
304
Volunteers
16
Highest pay
$373,954, president

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 36 out of 100. Higher than 6% of charities in its peer group (community improvement, $10m to $100m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    2 of 20

    It owes 88% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 7% of income.

  • Income trend

    15 of 15

    Income rose 5% on the year before.

  • Spending floor

    15 of 15

    85% of spending went to programs and raising each dollar of donations cost 7 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 85 out of 100. Higher than 16% of charities in its peer group (community improvement, $10m to $100m).

  • Independent board

    25 of 25

    16 of 16 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    0 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $10.9 million spent. 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.
  2. $1.7 million spent. 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.
  3. $4.2 million spent. 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.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since October 2009.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.