Fairmount Memorial Association

Spokane, WAUnknown exempt organizationSince 1946 EIN 91-0693690Revenue $7.0M in FY2024

On file with the IRSfairmountmemorial.com822 N Government Way a · Spokane, WA

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To provide cemetery and internment facilities and services

Run by 17 volunteers and 62 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $2.1M a year · 27% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
5 mo
of spending, in cash
Plus $32.9M in investments, Pt X · Ln 11–13
Looks good: 5.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$39.0M
66% of total assets
Worth a look: liabilities are 66% of assets; over 65%.
Pt X · Ln 26
Independent board members
17
of 18 voting members
Looks good: 17 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.0M
-7% vs prior year
Spent
$6.2M
Net assets
$19.7M
By yearFY2020–FY2024
Revenue
$7.0M
FY2024▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2020$12.1M
FY2021$6.0M
FY2022$5.5M
FY2023$7.6M
FY2024$7.0M
Expenses
$6.2M
FY2024▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.0M
FY2021$5.7M
FY2022$5.5M
FY2023$5.3M
FY2024$6.2M
Net assets
$19.7M
FY2024▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$14.3M
FY2021$17.0M
FY2022$14.5M
FY2023$17.6M
FY2024$19.7M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

27 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice-Chairman
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Fairmount Memorial Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers cemetery and burial services and facilities.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Cemetery operations. The Association will operate efficiently, prudently and profitably so as to ensure reasonable costs to our families and endowed care of our facilities.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$3K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$7.0M
Ln 12
Other incomeLn 4–11$4.3M
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$608K
Money outPt IX
$6.2M
Ln 25
Owns and owesPt X
$19.7M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$58.8M
LiabilitiesLn 26$39.0M
PeoplePt VI, VII
27
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$608K
Other incomeLn 4–11$4.3M
Gains on assetsLn 7$446K
Total revenueLn 12$7.0M
Assets in detailPt X, end of year
CashLn 1$2.6M
SavingsLn 2$104K
Cash and savings togetherLn 1–2$2.7M
InvestmentsLn 11–13$32.9M
Land, buildings, equipmentLn 10c$13.6M
Total assetsLn 16$58.8M
LiabilitiesLn 26$39.0M
Net assetsLn 32$19.7M
OperationsPt I, VI
EmployeesI 562
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.9M$2.7M
InvestmentsLn 11–13$30.5M$32.9M
Land, buildings, equipmentLn 10c$5.0M$13.6M
Total assetsLn 16$46.1M$58.8M
LiabilitiesLn 26$28.5M$39.0M
Net assetsLn 32$17.6M$19.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$3.2M
Pension plan contributionsLn 8$162K
Other employee benefitsLn 9$291K
Payroll taxesLn 10$276K
Legal feesLn 11b$16K
Accounting feesLn 11c$21K
Investment management feesLn 11f$57K
Other fees for servicesLn 11g$109K
Advertising and promotionLn 12$134K
Office expensesLn 13$108K
Information technologyLn 14$87K
OccupancyLn 16$371K
TravelLn 17$139K
Conferences, conventions and meetingsLn 19$39K
Depreciation, depletion and amortizationLn 22$439K
InsuranceLn 23$92K
Other expenses (24a–d)Ln 24$491K
All other expensesLn 24e$176K
Total functional expensesLn 25$6.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $7.0M$6.2M$825K$19.7M 990 PDF
FY2023 $7.6M$5.3M$2.3M$17.6M 990 PDF
FY2022 $5.5M$5.5M−$8K$14.5M 990 PDF
FY2021 $6.0M$5.7M$316K$17.0M 990 PDF
FY2020 $12.1M$5.0M$7.1M$14.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $7,047,890 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,832,847$2,107,835
I-10 Investment incomePrior year $1,422,625$608,446
I-11 Other revenuePrior year $4,311,308$4,331,609
I-12 Total revenuePrior year $7,566,780$7,047,890
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,386,080$3,944,475
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,895,438$2,278,772
I-18 Total expensesPrior year $5,281,518$6,223,247
I-19 Revenue less expensesPrior year $2,285,262$824,643
Part VI · Governance 17 of 18 board members independent, 3 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members17
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,047,890 across 5 lines filed
Lines not itemized here account for $4,448,702 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,862,856$1,862,856
VIII-3 Investment incomeExcluded from tax $162,180$162,180
VIII-6 Net rental income or lossUnrelated business $127,886$127,886
VIII-7 Net gain or loss on sales of assetsExcluded from tax $446,266$446,266
VIII-12 Total revenueRelated to mission $6,311,558 · Unrelated business $127,886 · Excluded from tax $608,446$7,047,890
Part IX · Statement of functional expenses $6,223,247 across 18 lines filed
IX-7 Other salaries and wages$3,215,719
IX-8 Pension plan contributions$161,887
IX-9 Other employee benefits$290,544
IX-10 Payroll taxes$276,325
IX-11b Legal fees$16,036
IX-11c Accounting fees$21,108
IX-11f Investment management fees$56,752
IX-11g Other fees for services$109,426
IX-12 Advertising and promotion$134,032
IX-13 Office expenses$107,861
IX-14 Information technology$86,651
IX-16 Occupancy$371,496
IX-17 Travel$139,308
IX-19 Conferences, conventions and meetings$39,075
IX-22 Depreciation, depletion and amortization$438,614
IX-23 Insurance$91,525
IX-24 Other expenses (24a–d)$490,594
IX-24e All other expenses$176,294
IX-25 Total functional expenses$6,223,247
Part X · Balance sheet $58,758,298 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $2,775,857$2,592,473
X-2 Savings and temporary cash investmentsStart of year $106,522$104,379
X-4 Accounts receivableStart of year $3,607,311$4,233,498
X-8 Inventories for sale or useStart of year $2,638,203$3,703,482
X-9 Prepaid expenses and deferred chargesStart of year $1,464,566$1,627,079
X-10c Land, buildings and equipment, netStart of year $5,015,578$13,550,319
X-11 Publicly traded securitiesStart of year $13,960,616$14,545,920
X-12 Other securitiesStart of year $16,493,561$18,401,148
X-16 Total assetsStart of year $46,062,214$58,758,298
X-17 Accounts payable and accrued expensesStart of year $650,000$798,705
X-19 Deferred revenueStart of year $24,403,562$27,295,890
X-25 Other liabilitiesStart of year $3,402,179$3,624,665
X-26 Total liabilitiesStart of year $28,455,741$39,043,065
X-27 Net assets without donor restrictionsStart of year $17,606,473$19,715,233
X-32 Total net assets or fund balancesStart of year $17,606,473$19,715,233
X-33 Total liabilities and net assetsStart of year $46,062,214$58,758,298
Part XI · Reconciliation of net assets $19,715,233 net assets at year end
XI-1 Total revenue$7,047,890
XI-2 Total expenses$6,223,247
XI-3 Revenue less expenses$824,643
XI-4 Net assets at start of year$17,606,473
XI-5 Net unrealized gains (losses) on investments$1,055,018
XI-9 Other changes in net assets$229,099
XI-10 Net assets at end of year$19,715,233

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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