Magnolia Cemetery Perpetual Care Fund
- Assets
- $8.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 05/1989
- Data as of
- 10/2021
- EIN
- 63-6148130
Organization Overview
Magnolia Cemetery Perpetual Care Fund is located in Mobile, AL. The organization was established in 1989. According to its NTEE Classification (Y50) the organization is classified as: Cemeteries, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnolia Cemetery Perpetual Care Fund is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 10/2021, Magnolia Cemetery Perpetual Care Fund generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.8% each year . All expenses for the organization totaled $307.7k during the year ending 10/2021. While expenses have increased by 0.1% per year over the past 6 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
TO FUND THE PERPETUAL CARE OF MAGNOLIA CEMETERY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST FUND PURPOSE IS TO GROW TO AN ADEQUATE BALANCE SO THAT SIGNIFICANT OUTSIDE DONATIONS/CONTRIBUTIONS WOULD NOT BE NEEDED, AND THE FUND WOULD BE ABLE TO MAINTAIN QUALITY CARE OF MAGNOLIA CEMETERY IN PERPETUITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Mcnair Recording Secreary | OfficerTrustee | 2 | $0 |
Amelia M Bell Corresponding Secty | OfficerTrustee | 2 | $0 |
Selwyn Turner Vice President | OfficerTrustee | 2 | $0 |
Joseph Ringhofer Treasurer | OfficerTrustee | 2 | $0 |
Cart Blackwell President | OfficerTrustee | 4 | $0 |
Janet Savage Executive Director | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $12,817 |
| 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 | $12,817 |
| Total Program Service Revenue | $0 |
| Investment income | $253,412 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $891,621 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,157,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $230,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $77,710 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $307,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $167,136 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,477,237 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,644,373 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $8,644,373 |
| Total liabilities and net assets/fund balances | $8,644,373 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Family Cemetery Inc Johnson City, TN | $5,676,861 | $3,825,994 |
Evergreen Cemetery Assn Jacksonville, FL | $41,297,239 | $4,188,824 |
The Westview Cemetery Inc Atlanta, GA | $12,289,399 | $4,446,360 |
Elmwood Cemetery Memphis, TN | $12,394,095 | $1,802,174 |
Forest Hills Cemetery Assn Chattanooga, TN | $10,196,719 | $1,009,652 |
Lake Park Cemetery Laurel, MS | $9,659,734 | $802,748 |
Oconee Hill Cemetery Trustees Athens, GA | $4,629,906 | $1,220,313 |
Riverside Cemetery Inc Macon, GA | $1,947,128 | $520,206 |
Independent Funeral Directors Of Florida Inc Tallahassee, FL | $290,932 | $534,265 |
Heritage Master Cemetery Perpetual Care Trust Tennessee Orlando, FL | $8,800,663 | $1,215,379 |
Natchez Cemetery Association Natchez, MS | $2,398,837 | $522,467 |
Greenwood Incorporated Clarksville, TN | $433,342 | $406,015 |