Perpetual Care Tr Fund Administered By The Kensico Cemetery As Ttee
- Assets
- $72.7m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Valhalla, NY
- Founding
- 12/1990
- Data as of
- 12/2021
- EIN
- 13-3582509
Organization Overview
Perpetual Care Tr Fund Administered By The Kensico Cemetery As Ttee is located in Valhalla, NY. The organization was established in 1990. 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. Perpetual Care Tr Fund Administered By The Kensico Cemetery As Ttee is a 501(c)(13) and as such, is described as a "Cemetery Company" by the IRS.
For the year ending 12/2021, Perpetual Care Tr Fund Administered By The Kensico Cemetery As Ttee generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 2.3% per year over the past 7 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
THE PERPETUAL CARE TRUST FUND ADMINISTERED BY THE KENSICO CEMETERY AS TRUSTEE IS A COMMINGLED FUND COMPRISED OF FUNDS WHICH ARE TO BE HELD IN PERPETUITY FOR THE BENEFIT OF ENDOWED LOTS. INCOME DERIVED FROM THESE FUNDS IS USED TO DEFRAY THE COST OF SPECIAL MAINTENANCE & CARE OF THESE ENDOWED LOTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE PERPETUAL CARE MAINTENANCE SERVICES PER THE ENDOWMENT AGREEMENTS. PERPETUAL CARE MAINTENANCE SERVICES INCLUDE THE CARE AND MAINTENANCE OF CEMETERY LOTS CONSISTING OF MOWING, RESEEDING, FERTILIZATION, LIMING OF LAWN AND OTHER SPECIAL LAWN TREATMENTS, PLANT CARE AND FLOWERS, CLEANING AND POINTING OF MONUMENTS AND MAUSOLEUMS, INSURANCE EXPENSE FOR MAUSOLEUM WINDOWS & ADMINISTRATIVE CHARGES PAID TO THE KENSICO CEMETERY (EIN #13-1715053) FOR ADMINISTERING AND SERVICING THE PERPETUAL CARE TRUST FUND FOR BOTH PRINCIPAL AND INCOME ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew G Parisi President, Ceo, Counsel & Director | OfficerTrustee | 5 | $0 |
Theresa M Doran Vp, Cfo, Treasurer & Assist. Secretary | Officer | 5 | $0 |
Richard R Weber VP & Sales Manager | Officer | 0 | $0 |
Michael H Cook Jr VP & Superintendent | Officer | 0 | $0 |
Richard A Schnall Vice Chairman | Trustee | 1 | $0 |
Raymond M Planell Secretary, Assistant Counsel & Director | Trustee | 1 | $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 | $253,771 |
| Investment income | $1,096,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,299,741 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,650,452 |
| 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 | $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 | $201,953 |
| 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 | $1,278,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $723,179 |
| 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 | $72,012,481 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $72,735,660 |
| 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 | $254,047 |
| Total liabilities | $254,047 |
| Net assets without donor restrictions | $72,481,613 |
| 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 | $72,735,660 |
Endowment Analysis
| Beg. Balance | $66,441,194 |
| Earnings | $6,862,881 |
| Net Contributions | $253,771 |
| Other Expense | $1,076,233 |
| Ending Balance | $72,481,613 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Woodlawn Cemetery Bronx, NY | $289,264,337 | $31,058,870 |
Green-Wood Cemetery Brooklyn, NY | $248,405,077 | $23,458,957 |
Kensico Cemetery Valhalla, NY | $290,091,968 | $37,854,382 |
Cypress Hills Cemetery Brooklyn, NY | $82,294,454 | $26,282,418 |
Beth Isreal Cemetery Association Bensalem, PA | $131,465,131 | $13,044,933 |
Proprietors Of The Cemetery Of Mount Auburn Cambridge, MA | $307,764,438 | $17,833,298 |
Cedar Grove Cemetery Association Flushing, NY | $446,925,476 | $46,438,257 |
Montefiore Cemetery Corporation St Albans, NY | $170,636,293 | $20,446,217 |
Ferncliff Cemetery Association Hartsdale, NY | $321,837,368 | $32,920,471 |
Elmont Cemetery Inc Elmont, NY | $157,393,841 | $12,857,507 |
Buffalo City Cemetery Buffalo, NY | $53,373,006 | $10,103,958 |
New Cedar Park Cemetery Westwood, NJ | $108,117,854 | $8,075,200 |