Overview
What is Hollywood Forever Inc - Endowment Care & Memorial Care Trust?
Hollywood Forever Inc - Endowment Care & Memorial Care Trust is a nonprofit entity based in Los Angeles, California, established in 1998. Its primary mission is to preserve funds indefinitely, with the earnings from investments contributing to the maintenance of grave spaces, crypts, and niches at the Hollywood Forever cemetery. The trust operates by selling graves, mausoleums, and niche spaces on a pre-need and at-need basis, with a portion of the sale proceeds being set aside for long-term cemetery upkeep. The trustees oversee the organization's activities, ensuring that funds are utilized effectively for the ongoing care and upkeep of the cemetery.
Is Hollywood Forever Inc - Endowment Care & Memorial Care Trust legitimate?
Hollywood Forever Inc - Endowment Care & Memorial Care Trust is a legitimate nonprofit organization registered as a 501(c)(13) entity. Hollywood Forever Inc - Endowment Care & Memorial 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 Forever Inc - Endowment Care & Memorial Care Trust?
Hollywood Forever Inc - Endowment Care & Memorial Care Trust was established with the objective of preserving funds indefinitely. The interest and dividends, after accounting for investment losses, are utilized to support the cemetery's general fund, specifically for the upkeep and maintenance of grave spaces, crypts, and niches. The cemetery operates by selling graves, mausoleums, and niche space, both pre-need and at-need. A portion of these sales is set aside for the endowment fund, contributing to the cemetery's maintenance and upkeep. The organization, managed by appointed trustees, commenced operations in 1998 following the release of funds by the conservatorship office of the State of California Department of Consumer Affairs after the cemetery's acquisition from bankruptcy estate.
Who is the CEO of Hollywood Forever Inc - Endowment Care & Memorial Care Trust?
Kanthiah Yogakumar is the President of Hollywood Forever Inc - Endowment Care & Memorial Care Trust.
What is the revenue of Hollywood Forever Inc - Endowment Care & Memorial Care Trust?
Hollywood Forever Inc - Endowment Care & Memorial Care Trust's revenue in 2022 was $2,102,786.
Who are the executives of Hollywood Forever Inc - Endowment Care & Memorial Care Trust and what are their salaries?
Here are 3 key members and their salaries:
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- Related: $0
- Other: $0
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Where can I find the form 990 for Hollywood Forever Inc - Endowment Care & Memorial Care Trust?
Hollywood Forever Inc - Endowment Care & Memorial Care Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hollywood Forever Inc - Endowment Care & Memorial Care Trust
Hollywood Forever Inc - Endowment Care & Memorial Care Trust was established with the mission of preserving funds indefinitely. The primary objective is to utilize the interest and dividends, after accounting for any investment losses, to support the maintenance of grave spaces, crypts, and niches within the cemetery. This nonprofit organization sells graves, mausoleums, and niche space on a pre-need and at-need basis. A portion of each sale contributes to the endowment fund, ensuring adequate funding for current and future cemetery upkeep. The organization commenced operations in 1998, following the acquisition of the cemetery from bankruptcy estate, and its activities are overseen by the trustees named in the trust document.
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Impact
October, 2024
Hollywood Forever Inc - Endowment Care & Memorial Care Trust plays a crucial role in ensuring the long-term upkeep and maintenance of the cemetery located in Los Angeles, CA. By holding funds in perpetuity, the Trust generates interest and dividends that directly contribute to the general fund dedicated to the care of grave spaces, crypts, and niches. This financial structure ensures that, regardless of future economic conditions, the cemetery can maintain its operations and provide a dignified resting place for the deceased.
Each sale of graves, mausoleums, and niche space incorporates a requirement to deposit a portion into the endowment fund, thereby creating a sustainable model for future maintenance. This approach not only secures ongoing care but also supports community needs in a respectful manner. Since its inception in 1998, following the cemetery's recovery from bankruptcy, the Trust has continually fulfilled its mission through diligent management by its appointed trustees.
The impact of this organization extends beyond financial stability; it fosters a sense of continuity and respect for the memory of individuals interred at Hollywood Forever. By prioritizing care and maintenance, the Trust ensures that families can visit their loved ones in a well-kept environment, preserving the cemetery’s historical and cultural significance for generations to come.
This information is meant to be a general summary of Hollywood Forever Inc - Endowment Care & Memorial 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: $1,176,781
- Gross Receipts: $10,921,625
Assets and Liabilities:
- Total Assets: $15,345,175
- Total Liabilities: $18,477
- Net Assets: $15,326,698
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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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