LAKEWOOD CEMETERY ASSOCIATION

EIN: 410364020

MINNEAPOLIS, MN

Total Revenue
$12,978,025
Total Expenses
$14,119,906
Total Assets
$389,125,727
Net Assets
$383,311,326
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1871
Legal Domicile
MN
Principal Officer
CHRISTOPHER MAKOWSKE
Phone
6128222171
Tax Period
2024-10-01 to 2025-09-30

LAKEWOOD CEMETERY ASSOCIATION, founded in 1871, is a mid-sized nonprofit that reported $13.0M in total revenue in fiscal year 2024. Revenue fell 33% from the prior year — a significant decline worth monitoring. Net assets of $383.3M represent 354 months of operating reserves.

Mission

WE SERVE FAMILIES AND OUR COMMUNITY BY OFFERING COMMEMORATIVE SERVICES TO HONOR, CELEBRATE, AND REMEMBER A LOVED ONE'S LIFE IN A PLACE OF BEAUTY AND SOLACE.

Program Service Accomplishments

Program 1

LAKEWOOD CEMETERY OFFERS COMMEMORATIVE SERVICES TO HONOR, CELEBRATE, AND REMEMBER A LOVED ONE'S LIFE IN A PLACE OF BEAUTY AND SOLACE. SERVICES INCLUDE RIGHTS OF INTERMENT (GRAVES, CRYPTS AND...

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LAKEWOOD CEMETERY OFFERS COMMEMORATIVE SERVICES TO HONOR, CELEBRATE, AND REMEMBER A LOVED ONE'S LIFE IN A PLACE OF BEAUTY AND SOLACE. SERVICES INCLUDE RIGHTS OF INTERMENT (GRAVES, CRYPTS AND CREMATION NICHES); BURIAL, SCATTERING OR PLACEMENT OF REMAINS; CREMATORY SERVICES; FACILITY RENTAL FOR REMEMBRANCE GATHERINGS; THE SALE OF VAULTS, MEMORIAL MARKERS, CREMATION URNS AND RELATED MERCHANDISE; AND THE SALE OF FLORAL TRIBUTES AND VASES FOR USE ON SITE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $53,964
Program Service Revenue $8,897,774
Investment Income $3,682,557
Other Revenue $343,730
TOTAL REVENUE $12,978,025

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,050,392
Fundraising Expenses $0
Other Expenses $10,069,514
TOTAL EXPENSES $14,119,906

Year-over-Year Comparison

2024 2023 Change
Revenue $12,978,025 $19,259,989 -0.3%
Expenses $14,119,906 $14,302,900 0.0%
Net Income $-1,141,881 $4,957,089 -1.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
46
Volunteers
39

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
5
$294,242
Total Directors
9
$68,500
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENT ADAMS TREASURER 0.02
Officer Director
$7,000 $0 $7,000
RUFUS WINTON TRUSTEE 0.02
Director
$7,000 $0 $7,000
JOSE PERIS TRUSTEE 0.01
Director
$7,500 $0 $7,500
CHRISTINE BENT VICE CHAIR 0.01
Officer Director
$5,000 $0 $5,000
DEBORAH HOPP TRUSTEE 0.03
Officer Director
$25,000 $0 $25,000
KATHLEEN P PEPSKI TRUSTEE 0.01
Director
$6,000 $0 $6,000
ROGER SIT TRUSTEE 0.01
Director
$4,000 $0 $4,000
LYNN THORNTON TRUSTEE 0.01
Director
$2,500 $0 $2,500
SARGENT JOHNSON SECRETARY 0.01
Officer Director
$4,500 $0 $4,500
CHRISTOPHER MAKOWSKE PRESIDENT 44.00
Officer
$227,688 $25,054 $252,742
KELSIE MATESKI DIRECTOR OF FINANCE & ADMI 44.00
Highest
$152,417 $14,446 $166,863
KELLY LEAHY DIRECTOR OF FAMILY SERVICE 45.00
Highest
$151,598 $14,432 $166,030
JULIA GILLIS DIRECTOR OF MARKETING AND 44.00
Highest
$153,250 $15,326 $168,576
STEPHEN JORDAN IT MANAGER 40.00
Highest
$128,622 $23,045 $151,667
PAUL AARESTAD DIRECTOR OF BUILDINGS AND 45.00
Highest
$115,464 $21,625 $137,089
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
2025 $12,978,025 $14,119,906 $389,125,727 $-1,141,881
2024 $19,259,989 $14,302,900 $378,083,936 $4,957,089
2023 $9,532,741 $14,263,401 $358,653,247 $-4,730,660
2022 $35,478,831 $12,091,533 $310,078,814 $23,387,298
2021 $27,300,829 $11,367,944 $346,558,483 $15,932,885
2020 $10,575,689 $10,195,530 $271,699,746 $380,159
2019 $8,202,497 $9,841,968 $264,187,627 $-1,639,471
2018 $21,031,292 $9,179,047 $262,387,748 $11,852,245
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