Memorial Park Association Inc

What it reported doing in 2025

Memorial park association, inc. Is a 501(c)(3) Florida nonprofit entity dedicated to the protection and preservation of memorial park in jacksonville, Florida. The association was created in 1986 by a group of park enthusiasts and local philanthropists concerned with memorial park's persistent state of decline and disrepair, just a year after memorial park was included on the national register of historic places as part of the riverside (now riverside-avondale) national historic district. Memorial park is located at 1620 riverside avenue near the 5 points area of jacksonville, Florida and is one of jacksonville's best loved treasures. Located along the banks of the majestic st. Johns river, this six-acre park draws visitors from across the northeast Florida community. Soon after its formation, the association entered an adopt-a-park agreement with the city of jacksonville, which enables it to perform various operations and mainenance functions, including necessary physical improvements, consistent with the historical character of the park and concurrent with the city's obligation to maintain memorial park for the greater public good. In 1988, the association commissioned its first restoration plans for the park. In 1992, a project to restore the iconic memorial sculpture spiritualized life was initiated, the first since the sculpture's installation in 1924. Other restorations followed in 2004 and 2019. Since then, the association facilitated and funded numerous projects to further preserve and protect the park, including the installation of ornamental metal fencing around the perimeter, upgrades to the irrigation and lighting systems, the planting of oaks and other native vegetation, the renovation of the entrance piers, plaza, balustrades, and fountain basin, cleanup of the extensive damage caused by hurricane irma in 2017, and the dedication of marble benches to honor important friends of memorial park. Of particular note is the 2010 installation of two large scale bronze eagles created by artist diane lafond insetta to replace the original concrete eagles that had been damaged and destroyed. Typically, the association also organizes and hosts numerous speakers, musical events, and community activities in the park. After a pause because of covid 19, these activities have resumed.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 96.3%; rating input score 96
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
• Governance controls: 5 of 7 controls in place; rating input score 71
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -11.9%; rating input score 17; 17th percentile among comparable filings
• Total-asset coverage ratio: 4.64; rating input score 78; 78th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

• Program expense growth: 2% per year; rating input score 100; 37th percentile among comparable filings
• Revenue growth: 3.3% per year; rating input score 100; 38th percentile among comparable filings
• Asset growth: 9.8% per year; rating input score 100; 62nd percentile among comparable filings