ARP costs in excess of $50,000 each year to operate just in terms of insurance and utilities. That doesn’t include regular maintenance such as landscaping, bathroom cleaning, etc. The park receives no maintenance support from any government source or municipality and maintenance is currently paid for through privately-raised funds. The long-term strategy for our independent sustainability has 3 elements:
1: The Endowment
Thanks most recently to a generous donation from People’s Natural Gas, the park reached the $2 million benchmark in our maintenance endowment. The Burke Family is the primary supporter of this fund, donating more than $1 million to sustain attractive, clean, and well-kept spaces. Our goal is to ensure the park can weather any financial crisis and our goal is to increase this endowment significantly to plan for income setbacks like the current COVID-19 crisis.
2: Rental Income
The park seeks to continue to generate income from marina and facility rentals, ensuring that these rentals do not interfere with our core mission of serving the public as a free park. ARP is always exploring new opportunities for income that are in keeping with our mission.
3: Annual Appeal and River Rocks
Both of these events provide critical funds needed for the park to operate and we greatly depend upon our donors for our long-term sustainability.
The ARP annual financial statement is available on Guidestar, and please read the footnotes. The park is audited by Frank P. Hess and Co., Inc.