In recent times, funeral homes are experiencing increased pressure from different angles. One of these is an increase in cremation rates, which drives down revenue. Another is an increase in e-commerce shopping, which also reduces profits. Lastly, funeral homes must comply with all government mandates and regulations, like the...
Non-profit cemeteries are those that are operative solely for the benefit of members and do not collect a profit. There are more benefits available to non-profit cemetery companies than just exemption from federal income tax under Section 501(c)(13) of the Internal Revenue Code. All potential benefits should be carefully...
As Benjamin Franklin’s famously noted, nothing in life is guaranteed except for death and taxes. While this is largely true, there is an IRS classification that allows certain cemetery businesses exemption from taxes. 501(c)(13) status is available to nonprofit mutual cemetery companies and nonprofit incorporated cemetery companies. The Internal...
In 2017, the National Funeral Directors Association reported that the median cost of a funeral was $7,360 for viewing and burial with no vault, $8,755 for viewing and burial with vault, and $6,260 for viewing and cremation. These figured don’t take cemetery, monument, or market costs into account, nor...
Perpetual care funds are monies placed in trust by cemeteries to generate income to cover cemetery maintenance in perpetuity. The funds are derived from sales of grave sites, above-ground crypts, and niches in mausoleums and columbariums. Cemeteries usually add 5-15% to the price charged for these items for perpetual...
Most everyone knows that daily living can impact the environment in countless ways. Now, more and more people are realizing that death care can, too. Accordingly, a study performed by the National Funeral Directors Association (NFDA) revealed that 54 percent of all Americans are now considering a green burial....
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