Lake Park Cemetery
- Assets
- $9.7m
- Revenue
- $802.7k
- Investments
- $1.5k
- Employees
- 14
- Location
- Laurel, MS
- Founding
- 01/1946
- Data as of
- 02/2022
- 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 02/2022, 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 02/2022, Lake Park Cemetery generated $802.7k 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 (5.1%) each year. All expenses for the organization totaled $668.3k during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 7 years. 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
2022
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 Asst Sec/treas | Officer | 40 | $65,077 |
Eugene Harlow Chairman | Officer | 0 | $0 |
Sd Bateman Vice Chairman | 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 | $71,910 |
| Investment income | $169,547 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $377,573 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $802,748 |
| 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. | $65,077 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $167,332 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,036 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $112,687 |
| 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 | $77,130 |
| Insurance | $82,175 |
| All other expenses | $32,275 |
| Total functional expenses | $668,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,216 |
| Savings and temporary cash investments | $415,645 |
| 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 | $2,345,528 |
| Investments—publicly traded securities | $6,872,972 |
| Investments—other securities | $1,497 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,876 |
| Total assets | $9,659,734 |
| Accounts payable and accrued expenses | $717 |
| 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 | $717 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $9,659,017 |
| 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 | $9,659,734 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Family Cemetery Inc Johnson City, TN | $5,676,861 | $3,825,994 |
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 |
Roselawn Memorial Park Association Little Rock, AR | $4,373,536 | $375,711 |
Natchez Cemetery Association Natchez, MS | $2,398,837 | $522,467 |
Greenwood Incorporated Clarksville, TN | $433,342 | $406,015 |
Pleasant Rest Memorial Gardens Of Millington Inc Memphis, TN | $533,678 | $357,989 |
Tennessee Funeral Directors Association Inc Nashville, TN | $361,013 | $342,012 |
Mable Rogan Lovette Tuw Fbo Mikinney Cemetery At Rogersville Knoxville, TN | $5,884,503 | $605,804 |
Oak Hill Memorial Association Cemetery Birmingham, AL | $603,639 | $420,333 |
Magnolia Cemetery Perpetual Care Fund Mobile, AL | $8,644,373 | $1,157,850 |