Sherwood Memorial Park Inc
- Assets
- $34.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 18
- Location
- Salem, VA
- Founding
- 08/1967
- Data as of
- 12/2023
- EIN
- 54-0377970
Organization Overview
Sherwood Memorial Park Inc is located in Salem, VA. The organization was established in 1967. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Sherwood Memorial Park Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sherwood Memorial Park Inc is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 12/2023, Sherwood Memorial Park Inc generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. 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
SHERWOOD MEMORIAL PARK, INC. OPERATES AND MAINTAINS A MEMORIAL TYPE CEMETERY AND SELLS BURIAL RIGHTS, MAUSOLEUM CRYPTS, NICHES, LAWN CRYPTS, VARIOUS MERCHANDISE AND RELATED SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHERWOOD MEMORIAL PARK, INC. OPERATES AND MAINTAINS A MEMORIAL TYPE CEMETERY AND SELLS BURIAL RIGHTS, MAUSOLEUM CRYPTS, NICHES, LAWN CRYPTS, VARIOUS MERCHANDISE AND RELATED SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jean G Taylor Cob/vice President | OfficerTrustee | 5 | $10,280 |
Susan Mini President/ceo/treasurer | OfficerTrustee | 40 | $172,873 |
Knox L Strube Corporate Secretary/office | OfficerTrustee | 5 | $10,280 |
Byron Randy Foley Director | Trustee | 5 | $10,280 |
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 | $520,959 |
| Investment income | $755,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,606 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $708,347 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,037,235 |
| 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. | $208,755 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $60,335 |
| Other salaries and wages | $489,668 |
| Pension plan accruals and contributions | $11,787 |
| Other employee benefits | $7,053 |
| Payroll taxes | $54,999 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,770 |
| Fees for services: Accounting | $72,465 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $173,184 |
| Fees for services: Other | $0 |
| Advertising and promotion | $37,734 |
| Office expenses | $40,816 |
| Information technology | $37,373 |
| 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 | $184,737 |
| Insurance | $46,552 |
| All other expenses | $0 |
| Total functional expenses | $1,702,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $539,234 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $556,319 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,462,863 |
| Prepaid expenses and deferred charges | $26,184 |
| Net Land, buildings, and equipment | $2,498,121 |
| Investments—publicly traded securities | $9,807,365 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,175,496 |
| Total assets | $34,065,882 |
| Accounts payable and accrued expenses | $73,345 |
| 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 | $8,234,960 |
| Total liabilities | $8,308,305 |
| Net assets without donor restrictions | $25,757,577 |
| 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 | $34,065,882 |