John Ericsson (July 31, 1803 – March 8, 1889) was a Swedish-American inventor and mechanical engineer, as was his brother Nils Ericson. He was born at Långbanshyttan in Värmland, Sweden, but primarily came to be active in England and the United States. At the age of seventeen he joined the Swedish army in Jämtland, serving in the Jämtland Field Ranger Regiment, as a Second Lieutenant, but was soon promoted to Lieutenant. During his military service is when he began to gain notoriety for his inventions and ideas. 
He is remembered best for designing the steam locomotive Novelty (in partnership with engineer John Braithwaite) and the ironclad ship USS Monitor. He was instrumental in helping the Union defeat the rebellion over the water, helping design the Union's version of the ironclad ship. He is credited with many inventions including the hot air engine, torpedo technology, the solar machine, and the propellor. Although none of his inventions created any large industries, he is regarded as one of the most influential mechanical engineers ever. After his death in 1889 his remains were brought from the United States to Stockholm by USS Baltimore; his final resting place is at Filipstad, in Värmland. Wikipedia
The fountain is pretty large. There is a large coping around the side which bears Ericsson's name and has the inscription: Dedicated to the memory of Captain John Ericsson, scientist, inventor, patriot. Born in Sweden July 31, 1803. Died in America, the country of his adoption, March 8, 1889. The fountain is fairly typical of what we have here in Philly: A bowl rises from the center of a large circular basin. Water shoots up from a central multi-tiered structure in the middle of the bowl and falls back into the bowl. Water then overflows the bowl into the basin. The fountain is at the northeast end of Eakins Oval at Parkway and 24th Street, 182 feet northeast of the 
George Washington Monument. The fountain was the creation of Charles E. Borie, Jr., Horace Trumbauer, and Alfred Zantzinger. The fountain was erected on March 2, 1933. Another source has it as 1934. Additional information and vintage pictures of the fountain from 1934 and 1961 can be found HERE.
This site was previous waymarked in the fountains category in October of 2012, which waymark can be found HERE
Naturally. something this beautiful and historic could be found on the American Guide Series:
To the right, in the center of another traffic circle, is the ERICSSON FOUNTAIN (10), dedicated to the memory of Capt. John Ericsson, Swedish designer of the Monitor, which met with Confederate Merrimac in the first engagement of ironclads, at Hampton Roads, during the Civil War. The fountain was designed by Horace Trumbauer, Charles L. Borie, Jr., and Clarence Zantzinger and erected on March 2, 1933. --- Philadelphia: A Guide to the Nation's Birthplace, 1937, p. 580
Lot parking (10 bucks) is available 260 feet south of the fountain. The entrance to the parking lot can be found at N 39° 57.781 W 75° 10.648. I usually park along the street for free.