Lake Park Cemetery
- Assets
- $9.9m
- Revenue
- $521.9k
- Investments
- $1.5k
- Employees
- 14
- Location
- Laurel, MS
- Founding
- 01/1946
- Data as of
- 02/2024
- EIN
- 64-0274946
Organization Overview
Lake Park Cemetery is located in Laurel, MS. The organization was established in 1946. 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 02/2024, Lake Park Cemetery employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Park Cemetery is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 02/2024, Lake Park Cemetery generated $521.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.3%) each year. All expenses for the organization totaled $807.8k during the year ending 02/2024. 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
TO PROVIDE A FINAL RESTING PLACE FOR PURCHASER/FAMILY OF PURCHASER
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A FINAL RESTING PLACE FOR PURCHASER/FAMILY OF PURCHASER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Stephens Sec/treas | Officer | 40 | $69,005 |
Eugene Harlow Chairman | Officer | 0 | $0 |
Stevens Bateman Vice Chairman | Officer | 0 | $0 |
Tanner Walters Asst Sec/treas | Officer | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $67,650 |
| Investment income | $199,609 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$39,156 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $521,934 |
| 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 | $30,000 |
| Compensation of current officers, directors, key employees. | $69,005 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $257,222 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $68,188 |
| Fees for services: Other | $5,000 |
| 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 | $105,940 |
| Insurance | $94,917 |
| All other expenses | $34,262 |
| Total functional expenses | $807,835 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,326 |
| Savings and temporary cash investments | $282,451 |
| 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 | $2,571,164 |
| Investments—publicly traded securities | $7,003,995 |
| Investments—other securities | $1,497 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,312 |
| Total assets | $9,885,745 |
| Accounts payable and accrued expenses | $1,077 |
| 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 | $1,077 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $9,884,668 |
| 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 | $9,885,745 |