Overview
What is Hollywood Cemetery Special Care Trust?
The Hollywood Cemetery Special Care Trust is a nonprofit entity established in Los Angeles, California. Its primary function is to serve as a trust for funds derived from the sale of pre-need cemetery merchandise or services. The trust holds these funds, ensuring that when the cemetery authority sells a contract for pre-need cemetery items or services, they are placed in the trust. The trust is particularly beneficial when the pre-need merchandise has not been delivered to the purchaser. Upon the decease of the customer, cancellation of the contract, or when the cemetery authority fulfills the contract's requirements, the trustees of the Hollywood Forever cemetery's Special Care Trust are requested to pay the cemetery authority the amount held in trust to cover the merchandise and services contracted by the customer. This trust system ensures financial security for both the cemetery authority and the customers.
Is Hollywood Cemetery Special Care Trust legitimate?
Hollywood Cemetery Special Care Trust is a legitimate nonprofit organization registered as a 501(c)(13) entity. Hollywood Cemetery Special Care Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Hollywood Cemetery Special Care Trust?
The Hollywood Cemetery Special Care Trust was established with the purpose of managing funds derived from the sale of pre-need cemetery merchandise or services. When a cemetery authority sells such a contract, they are obligated to deposit the corresponding merchandise or services into the trust, unless it has been delivered to the purchaser. Upon the customer's demise, the cemetery authority's completion of contractual services, or the cancellation of the contract by the customer, they request payment from the trustees of the Hollywood Forever Special Care Trust agreement. This payment is intended to cover the merchandise, commodities, and services as contracted by the trustor, fully settling their obligations.
Who is the CEO of Hollywood Cemetery Special Care Trust?
Kanthiah Yogakumar is the President of Hollywood Cemetery Special Care Trust.
What is the revenue of Hollywood Cemetery Special Care Trust?
Hollywood Cemetery Special Care Trust's revenue in 2022 was $33,527.
Who are the executives of Hollywood Cemetery Special Care Trust and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Hollywood Cemetery Special Care Trust?
Hollywood Cemetery Special Care Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hollywood Cemetery Special Care Trust
The Hollywood Cemetery Special Care Trust was established with the primary objective of safeguarding funds derived from the sale of pre-need cemetery merchandise or services. This nonprofit organization requires cemetery authorities to deposit any pre-need merchandise or services purchased under contract into this trust, unless the merchandise has been delivered to the purchaser. Upon the demise of the customer or the completion of the contracted services by the cemetery authority, or in the event of contract cancellation by the customer, the cemetery authority seeks payment from the trustees of the Special Care Trust Agreement of Hollywood Forever Cemetery for the full value of the merchandise, commodities, and services as stipulated in the contract. This trust facilitates the smooth fulfillment of pre-arranged cemetery services and merchandise obligations, ensuring compliance with contractual agreements.
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Impact
October, 2024
The Hollywood Cemetery Special Care Trust ensures the financial security and fulfillment of arrangements for pre-need cemetery services and merchandise. By holding funds from these sales, the trust plays a critical role in safeguarding the interests of individuals who wish to plan ahead for their end-of-life services.
When cemetery merchandise or services are sold on a pre-need basis, the funds are placed into this special care trust, which guarantees that the services promised will be delivered as required, regardless of when they are needed. This mechanism protects customers by preventing misuse of the funds and ensuring that they are available for the intended purpose at the time of need.
Moreover, in cases where services are performed upon the death of the customer or if a contract is canceled, the cemetery authority has a clear process to obtain payment, thereby maintaining accountability and transparency. This structured approach not only provides peace of mind to individuals and families planning for the future but also strengthens the operational integrity of the cemetery authority itself.
Overall, the impact of the Hollywood Cemetery Special Care Trust extends beyond financial management; it fosters trust in the services provided, facilitates orderly processes for grieving families, and ultimately contributes to a dignified and respectful handling of end-of-life arrangements.
This information is meant to be a general summary of Hollywood Cemetery Special Care Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $33,527
- Gross Receipts: $417,625
Assets and Liabilities:
- Total Assets: $1,219,527
- Total Liabilities: $287,102
- Net Assets: $932,425
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Organization Details
Principal Officer
Kanthiah Yogakumar
Main Address
6000 SANTA MONICA BLVD, LOS ANGELES, CA, 90038
NTEE Category
Code: Y50 - Mutual benefit
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