Lakewood Park Cemetery Association
- Assets
- $25.0m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 9
- Location
- Rocky River, OH
- Founding
- 06/1925
- Data as of
- 12/2021
- EIN
- 34-0149220
Organization Overview
Lakewood Park Cemetery Association is located in Rocky River, OH. The organization was established in 1925. 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 12/2021, Lakewood Park Cemetery Association employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakewood Park Cemetery Association is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 12/2021, Lakewood Park Cemetery Association generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $889.0k during the year ending 12/2021. While expenses have increased by 2.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LAKEWOOD PARK CEMETERY ASSOCIATION IS A NONPROFIT CORPORATION WHICH SELLS BURIAL SPACE, CRYPTS AND NICHES AND PROVIDES INTERMENTS, ENTOMBMENTS AND SETTING OF GRAVE MARKERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINED CEMETERY GROUNDS AND FACILITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Helms Secretary/treasurer | OfficerTrustee | 6 | $14,475 |
Kenneth Burney President | OfficerTrustee | 2 | $14,475 |
Edward Delzani Trustee | Trustee | 2 | $9,475 |
John C Hoffman Trustee | Trustee | 2 | $9,475 |
David Harris Trustee | Trustee | 2 | $9,475 |
Scott Kermode Trustee | Trustee | 2 | $8,025 |
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 | $250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250 |
| Total Program Service Revenue | $323,874 |
| Investment income | $494,630 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,336 |
| Net Gain/Loss on Asset Sales | $1,911,432 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $90,879 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,823,455 |
| 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. | $65,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $129,610 |
| Pension plan accruals and contributions | $8,840 |
| Other employee benefits | $110,077 |
| Payroll taxes | $40,299 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,475 |
| Fees for services: Accounting | $16,057 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $141,641 |
| Fees for services: Other | $1,520 |
| Advertising and promotion | $0 |
| Office expenses | $11,631 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,569 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $89 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,807 |
| Insurance | $20,557 |
| All other expenses | $5,233 |
| Total functional expenses | $889,001 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,517 |
| Savings and temporary cash investments | $103,071 |
| 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 | $726,285 |
| Prepaid expenses and deferred charges | $4,914 |
| Net Land, buildings, and equipment | $1,684,883 |
| Investments—publicly traded securities | $22,422,208 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,997,878 |
| Accounts payable and accrued expenses | $83,492 |
| 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 | $83,492 |
| Net assets without donor restrictions | $24,914,386 |
| 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 | $24,997,878 |
Endowment Analysis
| Beg. Balance | $11,595,391 |
| Earnings | $1,280,715 |
| Net Contributions | $53,845 |
| Ending Balance | $12,929,951 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beth Isreal Cemetery Association Bensalem, PA | $131,465,131 | $13,044,933 |
Washington Park Cemetery Association Inc Indianapolis, IN | $57,549,845 | $13,115,645 |
Lake View Cemetery Association Cleveland, OH | $51,077,565 | $11,550,023 |
Cave Hill Cemetery Company Louisville, KY | $67,001,142 | $12,381,029 |
West Laurel Hill Cemetery Co Bala Cynwyd, PA | $73,101,806 | $10,203,790 |
Clover Leaf Park Cemetery Association Bensalem, PA | $64,984,300 | $5,847,468 |
Crown Hill Cemetery Association Bensalem, PA | $43,851,770 | $4,731,978 |
Elmwood Cemetery Association Detroit, MI | $22,526,904 | $6,677,870 |
Lexington Cemetery Company Lexington, KY | $150,406,302 | $9,017,874 |
Toledo Memorial Park & Mausoleum Sylvania, OH | $29,699,848 | $3,122,965 |
Ivy Hill Cemetery Company Philadelphia, PA | $12,453,849 | $4,553,724 |
Odd Fellows Cemetery Company Of Philadelphia Rockledge, PA | $3,101,798 | $3,510,814 |