Prospect Hill Cemetery Association
- Assets
- $3.4m
- Revenue
- $377.8k
- Investments
- $2.8m
- Employees
- 6
- Location
- Nantucket, MA
- Founding
- 02/1944
- Data as of
- 03/2024
- EIN
- 04-2001200
Organization Overview
Prospect Hill Cemetery Association is located in Nantucket, MA. The organization was established in 1944. According to its NTEE Classification (Y50) the organization is classified as: Cemeteries, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 03/2024, Prospect Hill Cemetery Association employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prospect Hill Cemetery Association is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 03/2024, Prospect Hill Cemetery Association generated $377.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $188.6k during the year ending 03/2024. While expenses have increased by 3.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE BURIAL FACILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROVIDES A BURIAL FACILITY AND SERVICES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Soverino President | OfficerTrustee | 1 | $0 |
Patricia Anathan Vice President | OfficerTrustee | 1 | $0 |
Maryanne Waine Secretary | OfficerTrustee | 1 | $0 |
Stephen Godwin Trustee | Trustee | 1 | $0 |
William Hourihan Treasurer | OfficerTrustee | 1 | $0 |
Charles Waters Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,584 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,584 |
| Total Program Service Revenue | $194,350 |
| Investment income | $141,830 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $377,764 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $54,815 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,619 |
| Fees for services: Management | $33,750 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,493 |
| Advertising and promotion | $577 |
| Office expenses | $1,852 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,024 |
| Insurance | $4,331 |
| All other expenses | $0 |
| Total functional expenses | $188,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $355,518 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $215,489 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,795,588 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,425 |
| Total assets | $3,380,020 |
| Accounts payable and accrued expenses | $11 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11 |
| Net assets without donor restrictions | $3,181,010 |
| Net assets with donor restrictions | $198,999 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,380,020 |