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Fairmount Memorial Association FY2023 filing

Spokane, WAUnknown exempt organizationSince 1946EIN 91-0693690Revenue $7.6M in FY2023

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

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To provide cemetery and internment facilities and services

Mission: Form 990 Part I, line 1

Before you give

FY2023 · 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
Cash reserves
6 mo
of spending, in cash
Looks good: 6.5 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
$28.5M
62% of total assets
Fine: liabilities are 62% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
16
of 17 voting members
Looks good: 16 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.6M
+38% vs prior year
Spent
$5.3M
Net assets
$17.6M
By yearFY2020–FY2024
Revenue
$7.6M
FY2023▲ +38%
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
$5.3M
FY2023▼ -4%
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
$17.6M
FY2023▲ +21%
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 FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

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
Dan Olson
Vice-Chairman (until 01/23)
$0Pt VII · Sec A
Gregory J Tripp
Director/Vice-Chairman (beg 01/23)
$0Pt VII · Sec A
Charlene Hombel
Secretary/Treasurer
$0Pt VII · Sec A
Tyrus Tenold
Director
$0Pt VII · Sec A
Tom Quigley
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Harvey a Oye
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 · FY2023
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
The Gellman FoundationFY2023$3K
Total grants receivedfrom 1 funder$3K

By the numbers

The FY2023 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$7.6M
Ln 12
Other incomeLn 4–11$4.3M
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$1.4M
Money outPt IX
$5.3M
Ln 25
Owns and owesPt X
$17.6M
net assets · Ln 32
Cash and savingsLn 1–2$2.9M
Total assetsLn 16$46.1M
LiabilitiesLn 26$28.5M
PeoplePt VI, VII
27
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$1.4M
Other incomeLn 4–11$4.3M
Gains on assetsLn 7$1.0M
Total revenueLn 12$7.6M
Assets in detailPt X, end of year
CashLn 1$2.8M
SavingsLn 2$107K
Cash and savings togetherLn 1–2$2.9M
InvestmentsLn 11–13$30.5M
Land, buildings, equipmentLn 10c$5.0M
Total assetsLn 16$46.1M
LiabilitiesLn 26$28.5M
Net assetsLn 32$17.6M
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 FY23End FY23
Cash and savingsLn 1–2$2.1M$2.9M
InvestmentsLn 11–13$28.0M$30.5M
Land, buildings, equipmentLn 10c$4.2M$5.0M
Total assetsLn 16$41.1M$46.1M
LiabilitiesLn 26$26.6M$28.5M
Net assetsLn 32$14.5M$17.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.7M
Pension plan contributionsLn 8$165K
Other employee benefitsLn 9$278K
Payroll taxesLn 10$276K
Accounting feesLn 11c$15K
Investment management feesLn 11f$52K
Other fees for servicesLn 11g$55K
Advertising and promotionLn 12$78K
Office expensesLn 13$85K
Information technologyLn 14$107K
OccupancyLn 16$304K
TravelLn 17$125K
Conferences, conventions and meetingsLn 19$28K
Depreciation, depletion and amortizationLn 22$364K
InsuranceLn 23$95K
Other expenses (24a–d)Ln 24$505K
All other expensesLn 24e$84K
Total functional expensesLn 25$5.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $7.0M$6.2M$825K$19.7M 990 PDF
FY2023 Viewing $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 I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $7,566,780 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,784,743$1,832,847
I-10 Investment incomePrior year $304,689$1,422,625
I-11 Other revenuePrior year $3,392,599$4,311,308
I-12 Total revenuePrior year $5,482,031$7,566,780
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 $3,732,369$3,386,080
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,757,466$1,895,438
I-18 Total expensesPrior year $5,489,835$5,281,518
I-19 Revenue less expensesPrior year −$7,804$2,285,262
Part VI · Governance 16 of 17 board members independent, 3 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members16
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 $7,566,780 across 5 lines filed
Lines not itemized here account for $4,169,585 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,832,847$1,832,847
VIII-3 Investment incomeExcluded from tax $420,344$420,344
VIII-6 Net rental income or lossUnrelated business $141,723$141,723
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,002,281$1,002,281
VIII-12 Total revenueRelated to mission $6,002,432 · Unrelated business $141,723 · Excluded from tax $1,422,625$7,566,780
Part IX · Statement of functional expenses $5,281,518 across 17 lines filed
IX-7 Other salaries and wages$2,667,651
IX-8 Pension plan contributions$165,112
IX-9 Other employee benefits$277,671
IX-10 Payroll taxes$275,646
IX-11c Accounting fees$14,845
IX-11f Investment management fees$52,363
IX-11g Other fees for services$54,797
IX-12 Advertising and promotion$77,514
IX-13 Office expenses$84,786
IX-14 Information technology$107,101
IX-16 Occupancy$303,758
IX-17 Travel$124,863
IX-19 Conferences, conventions and meetings$27,629
IX-22 Depreciation, depletion and amortization$363,725
IX-23 Insurance$95,346
IX-24 Other expenses (24a–d)$505,120
IX-24e All other expenses$83,591
IX-25 Total functional expenses$5,281,518
Part X · Balance sheet $46,062,214 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $1,763,128$2,775,857
X-2 Savings and temporary cash investmentsStart of year $327,483$106,522
X-4 Accounts receivableStart of year $2,812,486$3,607,311
X-8 Inventories for sale or useStart of year $2,678,748$2,638,203
X-9 Prepaid expenses and deferred chargesStart of year $1,337,068$1,464,566
X-10c Land, buildings and equipment, netStart of year $4,212,531$5,015,578
X-11 Publicly traded securitiesStart of year $12,362,795$13,960,616
X-12 Other securitiesStart of year $15,633,981$16,493,561
X-16 Total assetsStart of year $41,128,220$46,062,214
X-17 Accounts payable and accrued expensesStart of year $1,000,700$650,000
X-19 Deferred revenueStart of year $22,782,807$24,403,562
X-25 Other liabilitiesStart of year $2,809,135$3,402,179
X-26 Total liabilitiesStart of year $26,592,642$28,455,741
X-27 Net assets without donor restrictionsStart of year $14,535,578$17,606,473
X-32 Total net assets or fund balancesStart of year $14,535,578$17,606,473
X-33 Total liabilities and net assetsStart of year $41,128,220$46,062,214
Part XI · Reconciliation of net assets $17,606,473 net assets at year end
XI-1 Total revenue$7,566,780
XI-2 Total expenses$5,281,518
XI-3 Revenue less expenses$2,285,262
XI-4 Net assets at start of year$14,535,578
XI-5 Net unrealized gains (losses) on investments$522,913
XI-9 Other changes in net assets$262,720
XI-10 Net assets at end of year$17,606,473

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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