Wednesday, May 13, 2009

Hidden Income for Cemeteries

Often overlooked sources of income for cemeteries includes charitable organizations. A charitable organization, as defined in the IRS tax code, has as its purpose, raising funds for the benefit of others. Your property or some portion thereof could be the beneficiary of a charity under the IRS code.
The code is very specific for charitable organizations created under Chapter 501C-3 of the code. These eligiblity requirements include:
  • All monies raised in excess of expenses must be contributed
  • For cemeteries, benefit cannot accrue to the lot owner
Johnson-Woodford, management consultants to the deathcare industry
Postscript
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