Lake Park Cemetery Association
- Assets
- $2.4m
- Revenue
- $714.8k
- Investments
- $1.2m
- Employees
- 13
- Location
- Youngstown, OH
- Founding
- 08/1939
- Data as of
- 10/2021
- EIN
- 34-0347880
Organization Overview
Lake Park Cemetery Association is located in Youngstown, OH. The organization was established in 1939. 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 10/2021, Lake Park Cemetery Association employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Park Cemetery Association is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 10/2021, Lake Park Cemetery Association generated $714.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $354.8k during the year ending 10/2021. 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
BURIAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE BURIAL SERVICES AND MAINTAIN BURIAL GROUNDS FOR THE SURROUNDING AREA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas M Lumsden Jr Vice President | OfficerTrustee | 20 | $4,800 |
Mark Luke Secretary/treasurer | OfficerTrustee | 20 | $4,800 |
Dennis Thompson President | OfficerTrustee | 20 | $4,800 |
John F Petrony Trustee | OfficerTrustee | 2 | $800 |
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 | $561,496 |
| Investment income | $25,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $127,512 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $714,841 |
| 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. | $16,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $158,256 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,625 |
| Payroll taxes | $1,700 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,885 |
| Fees for services: Other | $6,217 |
| Advertising and promotion | $943 |
| Office expenses | $4,498 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,808 |
| 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 | $23,291 |
| Insurance | $23,304 |
| All other expenses | $22,562 |
| Total functional expenses | $354,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $454,590 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,852 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $588,691 |
| Prepaid expenses and deferred charges | $1,474 |
| Net Land, buildings, and equipment | $131,715 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,179,412 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,408,734 |
| Accounts payable and accrued expenses | $3,152 |
| 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 | $40,792 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,775 |
| Total liabilities | $49,719 |
| Net assets without donor restrictions | $1,179,603 |
| Net assets with donor restrictions | $1,179,412 |
| 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 | $2,408,734 |
Endowment Analysis
| Beg. Balance | $1,028,900 |
| Earnings | $153,356 |
| Admin Expense | $6,885 |
| Net Contributions | $23,000 |
| Other Expense | $18,959 |
| Ending Balance | $1,179,412 |
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 |