Magnolia Cemetery Association Inc

Nonprofit profile at a glance

EIN
570377078
IRS 990 coverage
2013–2021
Forms available
Form 990 2021
Location
Greenwood, SC, USA
Phone
8642234477
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Cemeteries

Reported finances

Revenue
$18,668
Expenses
$12,821
Assets
$604,471
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • ANN HANCOCK (PRESIDENT)

People named in this filing

  • ANN HANCOCK (PRESIDENT)
  • GROVER C HENDERSON III (TREASURER)
  • CAROL RICHARD (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Magnolia cemetery association, inc. Operates for the following purposes: to receive, hold, manage, invest or arrange for investing and to acquire by gift, devise, bequest, purchase or otherwise and use property of any kind and funds and to own and operate magnolia cemetery for the mutual benefit of the lot owners.

What it reported doing in 2021

Management of magnolia cemetery

Operating model

Revenue model
Investment-supported. 98% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.1%; rating input score 71
  • Program expense ratio: 90.8%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 31.3%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 47.15; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 71.1% of revenue deployed · 90.8% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $12K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 9 filing years from 2013 to 2021
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.