Salem Cemetery Company
- Assets
- $7.9m
- Revenue
- $484.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Winstonsalem, NC
- Founding
- 09/1937
- Data as of
- 03/2022
- 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 03/2022, 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 03/2022, Salem Cemetery Company generated $484.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $255.0k during the year ending 03/2022. 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
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 | 1 | $0 |
Thomas M Borden Assistant Se | Officer | $0 | |
Sandlin M Douglas Board Member | Trustee | 1 | $0 |
James M Ruffin Board Member | Trustee | 1 | $0 |
Lloyd P Tate Jr Board Member | Trustee | 1 | $0 |
William T Wilson III Board Member | 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 | $70,672 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,672 |
| Total Program Service Revenue | $34,578 |
| Investment income | $85,392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $270,844 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $22,516 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $484,002 |
| 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 | $137,539 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,588 |
| Payroll taxes | $11,153 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $792 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,002 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,744 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,238 |
| Travel | $6,266 |
| 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 | $12,125 |
| Insurance | $16,753 |
| All other expenses | $1,649 |
| Total functional expenses | $255,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,493 |
| Savings and temporary cash investments | $528,865 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,791 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $312,135 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $434,068 |
| Investments—publicly traded securities | $6,534,819 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,864,171 |
| Accounts payable and accrued expenses | $3,480 |
| 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 | $3,480 |
| Net assets without donor restrictions | $4,274,198 |
| Net assets with donor restrictions | $3,586,493 |
| 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 | $7,864,171 |
Endowment Analysis
| Beg. Balance | $3,414,442 |
| Earnings | $89,379 |
| Net Contributions | $82,672 |
| Ending Balance | $3,586,493 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Family Cemetery Inc Johnson City, TN | $5,676,861 | $3,825,994 |
Hollywood Cemetery Company Richmond, VA | $75,373,663 | $7,154,053 |
National Association Of Cemeteries Sterling, VA | $15,757,973 | $3,923,939 |
The Westview Cemetery Inc Atlanta, GA | $12,289,399 | $4,446,360 |
Elmwood Cemetery Memphis, TN | $12,394,095 | $1,802,174 |
Spring Hill Cemetery Association Lynchburg, VA | $15,390,416 | $4,913,871 |
Forest Hills Cemetery Assn Chattanooga, TN | $10,196,719 | $1,009,652 |
The Raleigh Cemetery Association Raleigh, NC | $12,061,266 | $1,437,460 |
Mount Hebron Cemetery Winchester, VA | $7,293,614 | $1,117,556 |
Oconee Hill Cemetery Trustees Athens, GA | $4,629,906 | $1,220,313 |
Riverside Cemetery Inc Macon, GA | $1,947,128 | $520,206 |
Fv Cemetery Company Inc Roanoke, VA | $1,608,268 | $617,453 |