Elmwood Cemetery

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1849

Legal Domicile

Principal Officer

J Michael Bernard

Tax Period

2023-01-01 to 2023-12-31

Elmwood Cemetery, founded in 1849, is a community nonprofit that reported $3.7M in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $4.4M exceeded revenue, resulting in a 19% operating deficit.

Program Service Accomplishments

Program 1

Expenses: $2,643,747

To operate the cemetery owned by the Trustees of Elmwood Cemetery, a Michigan nonprofit corporation (the Cemetery), as well as other cemeteries not owned by the Cemetery with which the Cemetery may have a contractual or other interest from time to time and which are exempt from federal income tax under the Internal Revenue Code of 1986, as amended.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $51,955

Program Service Revenue $2,553,156

Investment Income $-124,407

Other Revenue $1,195,092

TOTAL REVENUE $3,675,796

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,001,271

Fundraising Expenses $0

Program Expenses $2,643,747

Other Expenses $2,355,323

TOTAL EXPENSES $4,356,594

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,675,796	$5,046,393	-0.3%
Expenses	$4,356,594	$4,622,626	-0.1%
Net Income	$-680,798	$423,767	-2.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Eileen McCarthy	Trustee	1.00	Director	$0	$0	$0
Terry Peck Book	Trustee	1.00	Director	$0	$0	$0
James McMillan	Trustee	1.00	Director	$0	$0	$0
James Deutchman	Trustee	1.00	Director	$0	$0	$0
J Michael Bernard	PresidentSecretaryTrustee	1.00	Officer Director	$0	$0	$0
John S Snyder	TreasurerTrustee	1.00	Officer Director	$0	$0	$0
Lawrence F Sloane	Asst Secretary	5.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$3,675,796	$4,356,594	$20,706,904	$-680,798
2022	$5,046,393	$4,622,626	$19,599,236	$423,767
2021	$6,677,870	$4,341,865	$22,526,904	$2,336,005
2020	$4,339,613	$3,345,467	$19,886,775	$994,146
2019	$3,140,941	$3,128,815	$19,025,489	$12,126
2018	$3,260,149	$3,215,801	$17,516,808	$44,348