Sherwood Memorial Park Inc

Nonprofit profile at a glance

EIN
540377970
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Salem, VA, USA
Phone
5403892171
Rating confidence
Limited

Official website

Reported finances

Revenue
$3,911,837
Expenses
$1,813,596
Assets
$35,774,767
Liabilities
$8,249,140

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • JEAN G TAYLOR (COB/VICE PRESIDENT)
  • SUSAN MINI (PRESIDENT/CEO/TREASURER)

Highest reported compensation

  • SUSAN MINI (PRESIDENT/CEO/TREASURER): $196,092 total reported compensation
  • JEAN G TAYLOR (COB/VICE PRESIDENT): $8,240 total reported compensation
  • KNOX L STRUBE (CORPORATE SECRETARY/OFFICE): $8,240 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Sherwood memorial park, inc. Operates and maintains a memorial type cemetery and sells burial rights, mausoleum crypts, niches, lawn crypts, various merchandise and related services. Sherwood is a not-for-profit organization regulated under Virginia law. The majority of its customers are in the roanoke valley, Virginia area. Sherwood sells its products and services on a pre-need and at-need basis and grants credit to customers primarily in this geographic area.

What it reported doing in 2024

Sherwood memorial park, inc. Operates and maintains a memorial type cemetery and sells burial rights, mausoleum crypts, niches, lawn crypts, various merchandise and related services.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 88
  • Accountability: 76
  • Sustainability: 80
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 13th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 53.6%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 19.73; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 12.2%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $196K · 4 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.