Mount Olivet Cemetery
- Assets
- $18.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 21
- Location
- Maspeth, NY
- Founding
- 03/1935
- Data as of
- 09/2023
- EIN
- 11-1104650
Organization Overview
Mount Olivet Cemetery is located in Maspeth, NY. The organization was established in 1935. 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 09/2023, Mount Olivet Cemetery employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Olivet Cemetery is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 09/2023, Mount Olivet Cemetery generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $1.7m during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO PROVIDE CEMETERY SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CEMETERY OPERATIONS INCLUDING SALE OF LOTS, GRAVES, CRYPTS AND NICHES, INTERMENTS, AND CARE AND MAINTENANCE OF LOTS AND GRAVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Serie President | OfficerTrustee | 10 | $27,000 |
William Murphy Treasurer | OfficerTrustee | 2 | $22,200 |
Thomas Claro Trustee | Trustee | 2 | $1,500 |
Christopher Spring Trustee | Trustee | 2 | $7,500 |
Edward J Schmitt Superintendent | 40 | $108,832 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,094,346 |
| Investment income | $631,918 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,000 |
| Net Gain/Loss on Asset Sales | $180,722 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,927,607 |
| 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. | $66,900 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $755,868 |
| Pension plan accruals and contributions | $40,669 |
| Other employee benefits | $167,783 |
| Payroll taxes | $72,631 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $54,922 |
| Fees for services: Accounting | $54,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $97,813 |
| Fees for services: Other | $4,304 |
| Advertising and promotion | $150 |
| Office expenses | $72,689 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $64,540 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,166 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,665 |
| Insurance | $96,661 |
| All other expenses | $0 |
| Total functional expenses | $1,723,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,591 |
| Savings and temporary cash investments | $583,014 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $243,870 |
| 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 | $18,254 |
| Net Land, buildings, and equipment | $654,281 |
| Investments—publicly traded securities | $16,485,912 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,091,922 |
| Accounts payable and accrued expenses | $120,342 |
| 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 | $651,363 |
| Total liabilities | $771,705 |
| Net assets without donor restrictions | $17,320,217 |
| Net assets with donor restrictions | $0 |
| 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 | $18,091,922 |