DETROIT – The Detroit Riverfront Conservancy has taken in tens of millions of dollars in donations to make the Detroit Riverwalk a reality, now the nonprofit has handed financial records over to Michigan State Police (MSP) to investigate and put Chief Financial Officer William Smith on leave.
Board Chairman Matt Cullen said the decision was made following an independent audit and investigation of management reports and financial statements provided to the board.
He said the board also requested a criminal investigation by state police, which an MSP spokesperson said is ongoing.
As for the future of the nonprofit‘s work on the Riverwalk, Cullen said in a statement: “The project is moving ahead and will be stronger because of what we learn from the Board-controlled internal review and the State Police investigation. We owe it to our donors, other key stakeholders, and the entire Detroit community to be transparent and accountable about this situation – and that’s exactly what we will be.”
The Kresge Foundation has been a key partner in the transformation of the Detroit Riverwalk.
“The Conservancy’s work over the past two decades to create and preserve public space for Detroiters and serve as an economic catalyst in the city is nothing short of remarkable. Kresge is optimistic that the organization’s ability to complete the many facilities, gardens and parks already underway will not be impacted,” the Kresge Foundation President and CEO Rip Rapson said in a statement.