2012-06-22T12:57:30-05:00 2011-06-30 EISNERAMPER LLP 101 WEST AVENUE PO BOX 458 JENKINTOWN PA 190460458 990 2010-07-01 231734559 DELAWARE RIVER WATERFRONT CORPORATION DELA 2156293200 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 191061403 THOMAS P CORCORAN 2156293200 2012-06-22 1 DAVID A GRUBER 2158818800 2010 2016-02-24 21:20:13Z THOMAS P CORCORAN 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 191061403 19057115 0 X WWW.DELAWARERIVERWATERFRONTCORP.COM X 1970 PA DRWC'S MISSION IS TO MAINTAIN AND PROMOTE THE USE AND DEVELOPMENT OF THE CITY OF PHILADELPHIA'S CENTRAL WATERFRONT, KNOWN AS "PENN'S LANDING." THIS TASK IS OF VITAL IMPORTANCE TO THE CITY AND ONE WHICH THE CITY WOULD OTHERWISE BE REQUIRED TO PERFORM ITSELF ABSENT THE TAXPAYER CONDUCTING THESE ACTIVITIES. SPECIFICALLY, UNDER DRWC'S ARTICLES OF INCORPORATION, DRWC SHALL AT ALL TIMES BE OPERATED, EXCLUSIVELY FOR THE BENEFIT OF THE CITY FOR THE EXPRESS PURPOSE OF LESSENING THE BURDENS OF THE GOVERNMENT OF THE CITY. 16 16 218 0 0 0 3099211 11227106 6149200 7037676 40431 57628 541289 511005 9830131 18833415 0 0 0 0 3038733 2873090 0 0 24000 7113748 16235629 10152481 19108719 -322350 -275304 20644355 22652138 11267394 13550481 9376961 9101657 X DRWC'S MISSION IS TO MAINTAIN AND PROMOTE THE USE AND DEVELOPMENT OF THE CITY OF PHILADELPHIA'S CENTRAL WATERFRONT, KNOWN AS "PENN'S LANDING." THIS TASK IS OF VITAL IMPORTANCE TO THE CITY AND ONE WHICH THE CITY WOULD OTHERWISE BE REQUIRED TO PERFORM ITSELF ABSENT THE TAXPAYER CONDUCTING THESE ACTIVITIES. SPECIFICALLY, UNDER DRWC'S ARTICLES OF INCORPORATION, DRWC SHALL AT ALL TIMES BE OPERATED, EXCLUSIVELY FOR THE BENEFIT OF THE CITY FOR THE EXPRESS PURPOSE OF LESSENING THE BURDENS OF THE GOVERNMENT OF THE CITY. 0 0 10716481 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 OREGON AVENUE IN THE SOUTH TO 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. 6802491 757775 DRWC REMAINS STEADFAST IN ITS COMMITMENT TO FREE PUBLIC PROGRAMMING ON THE WATERFRONT AT PENN'S LANDING. ALL EVENTS PRODUCED BY DRWC WERE FREE TO THE PUBLIC. THE NEW 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 AS PART OF THE FIRST SEASON'S ACTIVITY. PENN'S LANDING CONTINUED TO SERVE AS A FEATURED LOCATION FOR THE CITY'S INDEPENDENCE DAY CELEBRATION, HOSTING MARQUEE EVENTS SUCH AS THE TASTE OF PHILADELPHIA, A HIGH PROFLE WATERFRONT CONCERT WITH FIREWORKS AND AN ICE CREAM FESTIVAL. THE SUMMER PROGRAM SEASON INCLUDED ELEVEN DIFFERENT MULTICULTURAL SERIES CELEBRATING THE RICH DIVERSITY OF THE GREATER PHILADELPHIA REGION, MARQUEE CONCERTS FEATURING FAMILY ENTERTAINMENT, THE SOUNDS OF R&B AND JAZZ, LARGE SCALE MOVIE SCREENINGS AND MARITIME EVENTS. DRWC CONTINUED ITS PARTNERSHIP WITH THE PENNSYLVANIA ENVIRONMENTAL COUNCIL TO BRING THE KAYAK PROGRAM BACK FOR A SECOND SEASON. THE PROGRAM WAS EXPANDED TO INCLUDE SWAN BOATING AS WELL AS EXTENDED HOURS OF OPERATION. OUTDOOR ENTHUSIASTS, FAMILIES AND KAYAKERS OF ALL LEVELS WERE ABLE TO RENT BOATS AND ENJOY THE RIVER IN A SAFE AND SUPERVISED ENVIRONMENT. IN ADDITION TO BEING AVAILABLE TO THE PUBLIC, DRWC & PECO WERE ABLE TO FUND AND OFFER FREE KAYAKING AND SWAN BOATING FOR PHILADELPHIA PARKS AND RECREATION CAMPERS, ENABLING URBAN TEENAGERS TO ENJOY THE RIVER AND HELP THEM BE MORE ACTIVE AND FIT. 585787 924154 DRWC ENGAGES IN A VARIETY OF ACTIVITIES ON PENN'S LANDING IN SUPPORT OF ITS MISSION, ON BEHALF OF THE CITY, OF MAINTAINING AND PROMOTING THE USE AND DEVELOPMENT OF THE CITY'S CENTRAL WATERFRONT, WHICH INCLUDES THE "BLUE CROSS RIVER RINK," AT PENN'S LANDING REOPENED FOR THE 16TH SEASON. IT IS A STANDARD OLYMPIC REGULATION SIZE ICE RINK, 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. THE OPERATION OF THIS SKATING RINK RELIEVES THE CITY FROM HAVING TO OPERATE THIS PUBLIC ARENA, WHICH IT WOULD OTHERWISE DO FOR THE GENERAL WELFARE OF ITS CITIZENS, INCLUDING THE MULTITUDE OF YOUNGER PEOPLE UTILIZING THIS FACILITY. 18104759 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 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 0 0 0 0 0 1 34 0 1 218 1 0 0 0 0 0 1 1 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 X RINKU MODI DIRECTOR OF FINANCE 2156293200 121 N COLUMBUS BOULEVARD PHILADELPHIA PA 191061403 RINA CUTLER 1.00 X 0 0 0 AVI D EDEN 1.00 X 0 0 0 TERRY GILLEN 1.00 X 0 0 0 JAY R GOLDSTEIN 1.00 X 0 0 0 ALAN GREENBERGER 1.00 X 0 0 0 WILLIAM P HANKOWSKY 1.00 X 0 0 0 MICHAEL I HAUPTMAN AIA 1.00 X 0 0 0 ALAN P HOFFMANN 1.00 X 0 0 0 WILLIAM R MILLER IV 1.00 X 0 0 0 DONN G SCOTT 1.00 X 0 0 0 MARILYN JORDAN TAYLOR 1.00 X 0 0 0 WILLIAM L WILSON 1.00 X 0 0 0 DIANE DALTO WOOSNAM 1.00 X 0 0 0 ELLEN YIN 1.00 X 0 0 0 MARIO ZACHARJASZ AIA 1.00 X 0 0 0 GARY J JASTRZAD 1.00 X 0 0 0 THOMAS P CORCORAN 40.00 X 197862 0 64931 JOSEPH FORKIN 40.00 X 147010 0 40645 JODIE MILKMAN 40.00 X 123653 0 29359 NICHOLAS DIFILIPPO 40.00 X 115393 0 42226 ZAKARIA REHAWI 40.00 X 91556 0 28586 583918 0 177161 4 0 1 0 AP CONSTRUCTION 1080 NORTH DELAWARE AVE STE 1500 PHILADELPHIA PA 19125 CONSTRUCTION 5746929 HYDRO-MARINE CONSTRUCTION CO INC 1345 ROUTE 38W HAINESPORT NJ 08036 CONSTRUCTION 1080174 COOPER ROBERTSON & PARTNERS 311 WEST 43RD STREET NEW YORK NY 10036 PLANNING 622442 BIOHABITATS 2081 CLIPPER PARK ROAD BALTIMORE MD 21211 CONSERVATION PLANNING 503527 JAMES CORNER FIELD OPERATIONS 101TH AVENUE NEW YORK NY 10018 DESIGN CONSULTANT 350338 11 26550 9459975 1740581 11227106 SITE REVENUE 713990 4645114 4645114 RENTAL INCOME 713990 1298740 1298740 SPONSORSHIP REVENUE 713990 656100 656100 MANAGEMENT FEES 713990 437722 437722 7037676 57628 57628 170250 26550 223700 -53450 -53450 PERFORMANCE & MKTG SUB 713990 500000 500000 MISC INCOME 713990 64455 64455 564455 18833415 7602131 0 4178 261934 52386 209548 1960570 1687173 273397 20159 14467 5692 388849 351183 37666 241578 193262 48316 23704 18963 4741 332220 265776 66444 122655 122655 216200 216200 872671 872671 560401 560401 ENGINEERING SERVICES 9448815 9448815 PERFORMANCE/SITE ACTIVI 1332229 1332229 PURCHASE OF SERVICES 1126103 1126103 ADMINISTRATIVE SERVICES 506905 482905 24000 MAINTENANCE & REPAIRS 475985 475985 1217741 1099785 117956 19108719 18104759 979960 24000 8003460 5497191 1816886 6759147 141485 266172 21376714 11247086 10682524 10129628 20644355 22652138 2386526 4776931 6443824 6315431 2437044 2458119 11267394 13550481 X 9376961 9101657 9376961 9101657 20644355 22652138 -275304 0 X X 0 1 1 X 0 X 2139051 3099211 11755231 16993493 6453339 6149200 6444640 19047179 8592390 9248411 18199871 36040672 0 0 0 36040672 75604 40431 112845 228880 75604 40431 112845 228880 268358 541289 547599 1357246 8936352 9830131 18860315 37626798 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1849765 1849765 9690713 6429282 3261431 6779451 4817804 1961647 3056785 3056785 10129628 TERM LOAN PAYABLE 66863 SECURITY DEPOSITS 144343 LOAN PAYABLE 1849765 OTHER POST EMPLOYMENT BENIFITS LIABILITY 397148 2458119 18833415 19108719 -275304 0 -275304 18999486 223700 223700 18775786 57629 57629 18833415 19332419 223700 223700 19108719 0 19108719 PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 223,700. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST INCOME 57,629. PART XIII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 223,700. RACE STREET PIER PROMENADE 196800 26550 170250 191550 10941 11327 4725 5156 196800 26550 170250 191550 10941 11327 4725 5156 223699 -53449 X X X X X 1 0 0 0 0 0 0 0 0 THOMAS P CORCORAN 195106 0 0 0 2756 0 41500 0 23431 0 262793 0 0 0 JOSEPH FORKIN 139262 0 0 0 7748 0 16500 0 24145 0 187655 0 0 0 JODIE MILKMAN 117653 0 0 0 6000 0 2473 0 26886 0 153012 0 0 0 NICHOLAS DIFILIPPO 109393 0 0 0 6000 0 18808 0 23418 0 157619 0 0 0 PART I, LINE 4A NICHOLAS DIFILIPPO SERVED AS CHIEF FINANCIAL OFFICER UNTIL FEBRUARY 18, 2011. HE WAS PAID $21,000 IN SEVERANCE DURING THE YEAR ENDED JUNE 30, 2011. SUPPLEMENTAL INFORMATION PART III NONTAXABLE BENEFITS INCLUDED ON SCHEDULE J, PART II INCLUDE MEDICAL, DENTAL, LIFE INSURANCE, LONG TERM DISABILITY INSURANCE, LESS THE EMPLOYEE'S PAYROLL DEDUCTION FOR THESE ITEMS. FORM 990, PART VI, SECTION A, LINE 7A THE MAYOR OF THE CITY OF PHILADELPHIA WILL SERVE AS A CLASS A DIRECTOR ON THE BOARD OF DIRECTORS, ALONG WITH THE DEPUTY MAYOR FOR PLANNING, AND THE EXECUTIVE DIRECTOR OF THE PHILADELPHIA CITY PLANNING COMMISSION. THE MAYOR OF THE CITY OF PHILADELPHIA APPOINTS THE INDIVIDUALS TO SERVE AS CLASS B DIRECTORS ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 THE PRESIDENT SHALL ENSURE THAT GOVERNMENT-ORDERED PAYMENTS OR FILINGS ARE FILED IN A TIMELY AND ACCURATE MANNER. THE PRESIDENT 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 PRIOR TO SUBMISSION, AND THE FULL BOARD SHALL RECEIVE A COPY OF THE IRS FORM 990 WITHIN 30 DAYS OF ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C DISCLOSURE OF ANY CONFLICT OF INTEREST/POLICY IS SENT TO DRWC'S ETHICS COMMITTEE FOR REVIEW AND COMMENT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE PRESIDENT IS DETERMINED BY THE BOARD OF DIRECTORS. 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 XII, LINE 2C THE BUDGET & PERSONNEL COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS REMAINS UNCHANGED FROM THE PRIOR YEAR. PENN'S LANDING LLC 121 N COLUMBUS BLVD PHILADELPHIA PA 19106 061690006 HOLD PA LIQUOR LICENSE FOR SALES AT PENNS LANDING WATERFRONT EVENTS PA 110004 102026 DELAWARE RIVER WATERFRONT CORPORATION