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Riversport Foundation reports revenue gains, seeks and wins event permits
Summary
Riversport Foundation told the Riverfront Redevelopment Authority its year-to-date revenue through February was ahead of last year while expenses rose; the authority approved multiple revocable permits for Riversport and other river events.
Riversport Foundation reported that total revenue through February was ahead of the prior year even as expenses rose, and the Oklahoma City Riverfront Redevelopment Authority approved multiple revocable permits for Riversport events and other river uses.
The foundation's representative told trustees that higher expenses were driven mainly by contract labor for security and janitorial work, though janitorial services have been moved in-house and two security officers were hired. "Total revenue through February, was ahead of prior year," the Riversport Foundation representative said. The foundation reported net income for the first quarter was about $72,000 less than the prior year.
Why it matters: Riversport is a major operator on the Oklahoma River and hosts recurring competitive and community events that drive river activity. The authority's approvals clear several calendar events for public use and fund-raising that support youth rowing programs.
Riversport's immediate plans include a bike-park relaunch on April 26, off-season maintenance to white-water channel equipment (including replacement of broken struts and a six-week channel cleaning), and a series of spring regattas that culminate in a US Rowing central youth championship and scholastic youth rowing league championship in May. The foundation said it recently hosted 70 athletes from 10 countries for a world-ranking slalom and kayak-cross event and expects to host the world championships next summer.
The foundation also reported a successful fundraiser: its "Chili on the River" event raised more than $68,800, all of which will go to the youth rowing program. The foundation has hired a volunteer manager to coordinate roughly 30 volunteers per day required for large events.
The authority voted to accept the Riversport update and approved a set of revocable permits recorded on the meeting agenda. Permits approved during the session included a Riversport revocable permit for a Central Youth Rowing event May 2–4, a Riversport revocable permit for the youth rowing league championship in May (date not specified), a revocable permit for the National Multiple Sclerosis Society's Walk MS in May, and a Make‑A‑Wish Foundation "Walk for Wishes" revocable permit in June.
The authority also approved a revocable permit for the Oklahoma Office of Homeland Security to hold an operational readiness exercise on the river in November. Several of those permit items were moved and passed without recorded roll-call tallies.
Trustees accepted the Riversport financial and operations update and approved the listed permits during the March 25 meeting. The authority's approvals allow the listed events to proceed under the revocable-permit conditions already used for river events.
The Riversport representative and the authority did not provide a full, itemized budget breakdown in the hearing beyond the topline figures reported for revenue, expense drivers, and the net income shortfall.
