Form 990 for tax year 2024
Filed by MEMPHIS RIVER PARKS PARTNERSHIP INC.
Totals
- Total revenue
- $10,797,390
- Total expenses
- $11,409,774
- Contributions and grants received
- $6,032,249
- Grants paid
- $0
- Program service revenue
- $4,714,241
- Investment income
- $668
- Other revenue
- $50,232
- Total assets, end of year
- $17,284,298
- Total liabilities, end of year
- $16,227,724
- Net assets or fund balances, end of year
- $1,056,574
- Program services expenses (Part IX)
- $9,567,197
- Management and general expenses
- $1,242,000
- Fundraising expenses
- $600,577
- Program service expenses (Part III)
- $9,567,197
Program services were 83.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$5,622,345
-
1f · All other contributions, gifts and grants
$409,904
-
2a · Program service revenue: CONTRACT REVENUE
total $3,099,000 · related or exempt $3,099,000
-
2b · Program service revenue: PARKS REVENUE
total $1,237,358 · related or exempt $1,237,358
-
2c · Program service revenue: BEALE STREET LANDING
total $377,883 · related or exempt $377,883
-
3 · Investment income
total $668 · excluded $668
-
10a · Gross sales of inventory
$50,232
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $50,232 · related or exempt $50,232
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $447,309 · program services $336,034 · management and general $111,275
-
7 · Other salaries and wages
total $994,319 · program services $558,752 · management and general $185,028 · fundraising $250,539
-
9 · Other employee benefits
total $131,500 · program services $62,264 · management and general $20,619 · fundraising $48,617
-
10 · Payroll taxes
total $106,061 · program services $79,677 · management and general $26,384
-
11g · Fees: other
total $283,436 · program services $77,463 · management and general $202,273 · fundraising $3,700
-
12 · Advertising and promotion
total $125,845 · program services $6,415 · fundraising $119,430
-
17 · Travel
total $17,599 · program services $720 · management and general $16,879
-
20 · Interest
total $527,578 · management and general $527,578
-
22 · Depreciation, depletion and amortization
total $120,821 · program services $32,113 · management and general $88,708
-
23 · Insurance
total $334,999 · program services $316,148 · management and general $18,851
-
24a · Other expenses: NON-RECURRING CAPITAL E
total $5,841,379 · program services $5,841,379
-
24b · Other expenses: UTILITIES
total $713,235 · program services $696,143 · fundraising $17,092
-
24c · Other expenses: PARK MAINTENANCE
total $676,826 · program services $671,007 · fundraising $5,819
-
24d · Other expenses: LANDSCAPING SERVICES
total $574,147 · program services $561,696 · fundraising $12,451
-
24e · All other expenses
total $514,720 · program services $327,386 · management and general $44,405 · fundraising $142,929
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $11,031,781 · end of year $3,383,179
-
2 · Savings and temporary cash investments
beginning of year $1,010,085 · end of year $1,050,362
-
3 · Pledges and grants receivable
beginning of year $2,475,000 · end of year $2,800,000
-
4 · Accounts receivable
beginning of year $11,143,337 · end of year $9,137,544
-
9 · Prepaid expenses and deferred charges
beginning of year $144,282 · end of year $179,591
-
10a · Land, buildings and equipment: cost or other basis
$522,858
-
10b · Land, buildings and equipment: accumulated depreciation
$251,858
-
10c · Land, buildings and equipment, net
beginning of year $303,113 · end of year $271,000
-
15 · Other assets
beginning of year $549,512 · end of year $462,622
-
17 · Accounts payable and accrued expenses
beginning of year $1,691,837 · end of year $1,440,790
-
19 · Deferred revenue
beginning of year $9,590,554 · end of year $6,759,228
-
23 · Secured mortgages and notes payable
beginning of year $12,940,000 · end of year $7,450,000
-
25 · Other liabilities
beginning of year $765,761 · end of year $577,706
-
27 · Net assets without donor restrictions
beginning of year $1,668,958 · end of year $1,056,574
Mission and programs · 2024
Mission
MEMPHIS RIVER PARKS PARTNERSHIP WORKS WITH AND FOR THE PEOPLE OF MEMPHIS TO TRIGGER THE TRANSFORMATIVE POWER OF OUR RIVER. THE PARTNERSHIP MANAGES, MAINTAINS, OPERATES, AND ACTIVATES FIVE CONNECTED RIVERFRONT PARK DISTRICTS OF 250 ACRES OF PARKLAND. BUILDING FROM THE MEMPHIS RIVERFRONT CONCEPT, THE PARTNERSHIP WORKS TO CREATE A CONNECTED, CATALYTIC, AND FUN RIVERFRONT FOR EVERYONE.
-
MANAGED CITY OF MEMPHIS RIVERFRONT PARKS UNDER CONTRACT FROM CITY OF MEMPHIS
Expenses $8,071,437 · Revenue $4,386,590
-
MUD ISLAND WAS OPEN TO ALL FOR FREE ENTRY AS A PUBLIC PARK. VISITORS EXPLORED THE MISSISSIPPI RIVER MUSEUM, THE RIVER WALK AND THE NEW MEMPHIS SIGN. REGULAR PROGRAMS INCLUDED FREE CONCERTS AND FULL MOON KAYAKING.
Expenses $195,712
-
MAINTENANCE, UTILITIES, LANDSCAPING AND GENERAL OPERATIONS OF BEALE STREET LANDING
Expenses $1,300,048 · Revenue $377,883
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Sam CantorSAM CANTOR
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Tammy LocascioTAMMY LOCASCIO
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Eric BrownERIC BROWN
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Billy OrgelBILLY ORGEL
SECOND ASSISTANT TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Gabe FranceschiGABE FRANCESCHI
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Teresa SloyanTERESA SLOYAN
ASSISTANT SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Gregory M DucketGREGORY M DUCKET
CHAIR EMERITUS
- Total calculated
- $0
- Hours/week
- 1
-
Calvin AndersonCALVIN ANDERSON
GOV'T RELATIONS
- Total calculated
- $0
- Hours/week
- 1
-
Bruce B HopkinsBRUCE B HOPKINS
DEVELOPMENT CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Maxine Max WondriesMAXINE MAX WONDRIES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Robert CraddockROBERT CRADDOCK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Liz GillilandLIZ GILLILAND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tom GrimesTOM GRIMES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Penelope HustonPENELOPE HUSTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kim JordanKIM JORDAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Cathy LynchCATHY LYNCH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Michelle McKissackMICHELLE MCKISSACK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Bruce McMullenBRUCE MCMULLEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jerri GreenJERRI GREEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Van D Turner JrVAN D TURNER JR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Molly WexlerMOLLY WEXLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Gary K Wunderlich JrGARY K WUNDERLICH JR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Justice BoldenJUSTICE BOLDEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jen AndrewsJEN ANDREWS
BOARD MEMBER - EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Chandell RyanCHANDELL RYAN
BOARD MEMBER - EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Paul ChandlerPAUL CHANDLER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Carol ColettaCAROL COLETTA
FORMER PRESIDENT
- Total calculated
- $268,373
- From this org
- $248,917
- From related orgs
- $0
- Other
- $19,456
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $248,917
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $19,456
- Filer's total
- $268,373
-
Arthur DavisARTHUR DAVIS
CHIEF OPERATING OFFICER
- Total calculated
- $178,936
- From this org
- $163,061
- From related orgs
- $0
- Other
- $15,875
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $163,061
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $15,875
- Filer's total
- $178,936
-
Michael NolanMICHAEL NOLAN
DIRECTOR OF SEPCIAL PROJEC
- Total calculated
- $163,404
- From this org
- $153,981
- From related orgs
- $0
- Other
- $9,423
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $153,981
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $9,423
- Filer's total
- $163,404
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 2 · Substantiation required before reimbursing expenses
- 3 · Written employment contract
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 24 February 2026
- IRS schema version
- 2024v5.5
- Source object
- 202630579349301238
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