Salem Cemetery Company
- Assets
- $8.5m
- Revenue
- $425.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Winstonsalem, NC
- Founding
- 09/1937
- Data as of
- 03/2024
- EIN
- 56-0387320
Organization Overview
Salem Cemetery Company is located in Winstonsalem, NC. The organization was established in 1937. 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, Salem Cemetery Company employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Cemetery Company is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 03/2024, Salem Cemetery Company generated $425.2k 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 (7.9%) each year. All expenses for the organization totaled $335.9k during the year ending 03/2024. 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
CEMETERY SERVICES - INCLUDES COSTS ASSOCIATED WITH GRAVE OPENINGS AND BURIALS, CEMETERY MAINTENANCE AND PERPETUAL CARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CEMETERY SERVICES - INCLUDES COSTS ASSOCIATED WITH GRAVE OPENINGS AND BURIALS, CEMETERY MAINTENANCE AND PERPETUAL CARE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas S Douglas III President | OfficerTrustee | 3 | $0 |
Sandlin M Douglas Board Member | Trustee | 2 | $0 |
James M Ruffin Board Member | Trustee | 2 | $0 |
Lloyd P Tate Jr Board Member | Trustee | 2 | $0 |
William T Wilson III Board Member | Trustee | 2 | $0 |
Ralph H Womble Board Member | Trustee | 2 | $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 | $56,754 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,754 |
| Total Program Service Revenue | $48,403 |
| Investment income | $150,241 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $143,949 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,953 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $425,225 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $165,437 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $47,357 |
| Payroll taxes | $13,946 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,615 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,501 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,642 |
| Travel | $866 |
| 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 | $15,310 |
| Insurance | $18,778 |
| All other expenses | $5,356 |
| Total functional expenses | $335,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,454 |
| Savings and temporary cash investments | $273,411 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,275 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $308,173 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $528,154 |
| Investments—publicly traded securities | $7,403,177 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,546,644 |
| Accounts payable and accrued expenses | $1,359 |
| 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 | $1,359 |
| Net assets without donor restrictions | $4,338,844 |
| Net assets with donor restrictions | $4,206,441 |
| 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 | $8,546,644 |