2025-11-14T12:36:10-07:00 2024-12-31 990 2024-01-01 131715053 THE KENSICO CEMETERY KENS 9149490347 PO Box 7 Valhalla NY 10595 Matthew Parisi President 9149490347 2025-11-14 1 2024 2025-03-06 01:10:19Z Matthew G Parisi PO Box 7 Valhalla NY 10595 125532433 0 X kensico.org X 1889 NY The Kensico Cemetery was organized as a rural cemetery corporation on January 19, 1889. The Cemetery's mission, then and now, is to sell burial rights to the public for the purpose of burial of the human dead, to make interments and to maintain the grounds in memory of all those buried. 9 8 74 0 0 0 100 350 20752557 21374102 18410268 25537242 0 10748 39162925 46922442 0 3410 0 0 10267124 10772236 0 0 0 4868290 5516084 15135414 16291730 24027511 30630712 313301088 368765311 5759578 5667914 307541510 363097397 The Kensico Cemetery is a non-sectarian not-for-profit membership corporation and as such is a regulated cemetery corporation under New York State law. It consists of 460 acres dedicated to cemetery use. It is a service organization operating on behalf of its lot owners under the rules and regulations of the New York State Cemetery Board. 0 0 The Cemetery's services consist of the following: 1. The sale of burial rights. 2. Interments - the actual burial service of human remains. The cemetery performed 2,016 interments. 3. Lot care - regular mowing of lawn areas, fertilization, liming, weed and insect control of developed areas of the cemetery. 4. Endowed lot care - perpetual care maintenance provides for a higher standard of cemetery maintenance consisting of mowing, trimming, fertilization, cleaning and pointing of monuments. 5. Other services include planting, foundations, cleaning and pointing monuments and mausoleums, maintenance of buildings, roads and water system, and security of the cemetery. 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 33 0 74 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Theresa M Doran 9149490347 273 Lakeview Avenue Valhalla NY 10595 Michael J Farmer VP, Sales & Development Mgr; Ass't Treasurer 35 0 X 341908 0 78462 Matthew G Parisi President, CEO, Counsel & Director 35 5.50 X X 293173 0 61819 Theresa M Doran VP, CFO, Treasurer & Assist. Secretary 45 5.20 X 310363 0 34878 Michael Ryan Salesperson & Office Mgr 35 0 X 276152 0 47765 Peter J Telfer Salesperson 35 0 X 254739 0 49946 Barbara J Cardany Salesperson 35 0 X 248146 0 27533 Michael H Cook Jr VP & Superintendent 48 0 X 220363 0 50076 Lillian Collado Salesperson 35 0 X 262275 0 7423 Joaquim C Pedrosa Deputy Superintendent of Grounds 48 0 X 178670 0 52133 Raymond M Planell Chairman of the Board, Assistant Counsel 6 1.50 X 63600 0 0 Richard A Schnall Vice Chairman of the Board 6 1.50 X 53400 0 0 Mary Ann Alonso Secretary & Director 3 1.50 X 41040 0 0 Kevin J Bannon Director 3 1 X 41040 0 0 Catherine U Biddle Director 3 1.50 X 41040 0 0 Elizabeth Payne Director 3 1 X 41040 0 0 Howard Weintraub Director 3 1 X 41040 0 0 Raymond Lou Director 3 1.50 X 34200 0 0 Eric Cheng Director 3 1 X 6840 0 0 2749029 0 410035 36 0 1 0 The Davey Tree Expert Company 1500 North Mantua Street Kent OH 44240 Landscaping Maintenance 1175981 Taurus Asset Management 590 Madison Ave 29th Fl New York NY 10022 Investment Management 396516 Deutsche Bank Trust Company Americas 1 Columbus Circle New York NY 10019 Investment Management 371035 Cahill and Co LLC 7535 Hogan Court Naples FL 34113 Blacktopping 371035 Eagle Concrete LLC 10 George Street Danbury CT 06810 Foundation work 249478 11 0 0 0 0 0 350 0 350 Sale of Burial Rights 900099 14849871 14849871 0 0 Service Charges 900099 5127751 5127751 0 0 Endowed Lot Crae from Perpetual Trust 900099 1282825 1282825 0 0 Other Cemetery Services 900099 113655 113655 0 0 0 0 0 0 21374102 10598711 0 0 10598711 0 0 0 0 0 0 0 0 0 0 93548226 296 78609991 0 14938235 296 14938531 0 0 14938531 0 Fees for services provided to Friends of The Kensico Cemetery Inc 900099 10748 10748 0 0 0 0 0 0 10748 46922442 21384850 0 25537242 X 3410 0 0 0 1573724 0 6339038 165425 2130686 563363 0 10491 60494 0 0 1042428 2260276 409746 90837 183101 0 174715 165606 0 28727 0 0 355541 165317 Supplies 238933 Repairs and maintenance 28877 300995 16291730 0 0 0 1864706 1474953 16301625 15242691 0 0 4432302 2273682 0 0 0 0 0 0 0 0 298790 274157 7513891 4915683 2356953 2598208 274426380 328751777 1061791 1876655 0 0 0 0 12558541 16273188 313301088 368765311 1720539 1873438 0 0 52454 51585 0 0 0 0 0 0 0 0 0 0 3986585 3742891 5759578 5667914 X 307541510 363097397 0 0 307541510 363097397 313301088 368765311 X 30630712 23001997 0 0 0 1923178 X 0 1 X 1 0 213220986 3531083 36847752 0 1673444 449500 251476877 178641105 2832182 33702651 0 1549752 405200 213220986 209259059 3223413 -32255918 0 1221349 364100 178641105 172778638 3080175 34874101 0 1141255 332600 209259059 148363024 1900293 23901283 0 1084562 301400 172778638 1 0 0 0 0 0 0 0 0 3609454 2274241 1335213 0 0 0 0 0 2479426 1816816 662610 0 1425011 824626 600385 2598208 0 Unfunded other benefits 2750825 Due to landshare owners 992066 3742891 X Schedule D, Part V, Line 4 Schedule D Part V - Line 4 Intended uses of endowment funds: The audited financial statements of The Kensico Cemetery provide the following description of its funds: The Permanent Maintenance Fund - was established in 1949 as provided by New York State law. Effective July 1, 1992, the fund receives 15% of the gross proceeds from the sale of all lots, graves, crypts and niches. As also required by New York State law, effective, January 1, 2001, the fund receives an additional $35 for each interment. New York State law also provides that the principal of this fund shall remain inviolate except under limited circumstances, as set forth in the law. Income (interest and dividends) from the investments of this fund is deposited in the General Fund to be used for current maintenance of the Cemetery. Capital gains and losses from investments are added to or reduce the principal of the fund. The Declaratory Maintenance Fund - was established in 1934 as provided in the judgment in an action in the Supreme Court, Westchester County, entitled The Kensico Cemetery, plaintiff against William H. Lyon, et al, defendants. Pursuant to the judgment, investments of the General Fund having a book value of $147,551 were transferred to this fund. The judgment provides that the principal and income of this fund shall not be used for the general purposes of the Cemetery until the fund, including accumulated income, is in an amount sufficient to produce income to maintain in perpetuity the grounds of the Cemetery. This fund has been administered in accordance with the provisions of the judgment. Schedule D, Part X, Line 2 Management has determined that the Organization had no uncertain tax positions that would require consolidated financial statement recognition or disclosure. X X X X X 0 0 0 Michael J Farmer VP, Sales & Development Mgr; Ass't Treasurer 150005 0 191545 0 358 0 48877 0 30700 0 421485 0 0 0 Matthew G Parisi President, CEO, Counsel & Director 285005 0 0 0 8168 0 19440 0 43494 0 356107 0 0 0 Theresa M Doran VP, CFO, Treasurer & Assist. Secretary 290005 0 20000 0 358 0 20085 0 15908 0 346356 0 0 0 Michael Ryan Salesperson & Office Mgr 105005 0 170789 0 358 0 5386 0 43390 0 324928 0 0 0 Peter J Telfer Salesperson 85005 0 169376 0 358 0 7567 0 43301 0 305607 0 0 0 Barbara J Cardany Salesperson 85005 0 162783 0 358 0 12740 0 15715 0 276601 0 0 0 Michael H Cook Jr VP & Superintendent 210005 0 10000 0 358 0 20491 0 30700 0 271554 0 0 0 Lillian Collado Salesperson 95005 0 166912 0 358 0 6858 0 1531 0 270664 0 0 0 Joaquim C Pedrosa Deputy Superintendent of Grounds 156999 0 8756 0 12915 0 22548 0 30700 0 231918 0 0 0 Form 990, Part VI, Section A, Line 6 The Kensico Cemetery is subject to Article 15 of the New York Not-for-Profit Corporation Law. In accordance with the statute, the lot owners of The Kensico Cemetery are the members of the corporation. The members elect the Board of Directors. The New York cemeteries which are subject to Article 15 of the Not-for-Profit Corporation Law are also regulated by the New York State Cemetery Board, which reviews and approves the rules and regulations and charges for services adopted by the Board of Directors of a regulated cemetery. Form 990, Part VI, Section A, Line 7a The members elect the Board of Directors. Form 990, Part VI, Section A, Line 7b The members elect the Board of Directors. Form 990, Part VI, Section B, Line 11b A draft of the 2024 Form 990 was provided to the organization's Audit Committee, for its review prior to the October 15, 2025 Audit Committee meeting. At the October 15, 2025 Audit Committee meeting, the draft 2024 Form 990 was discussed and approved. Copies of the final 2024 Form 990 were provided to the full Board of Directors prior to the October 23, 2025 Board meeting, at which the 2024 Form 990 was discussed. Form 990, Part VI, Section B, Line 12c Kensico's Conflict of Interest Policy, which describes how the policy is monitored and enforced is as follows: Purpose - This Policy has been adopted to ensure that the Directors, Officers and Key Persons (as defined in New York Not-for-Profit Corporation Law Section 102(a)(25)) of the Cemetery act in the Cemetery's best interest and in accordance with applicable legal requirements. Duty to Disclose - Any Board member, Officer or Key Person having a financial interest or whose relative has a financial interest, as described below, must disclose such interest to the Audit Committee. Furthermore, each Board member, Officer or Key Person shall complete a conflict of interest statement, on the form annexed hereto, annually; the first such statement to be completed by a prospective Board member prior to his or her initial election and the first such statement to be completed by an Officer or Key Person immediately upon becoming an Officer or Key Person. A copy of each completed statement shall be provided to the Chair of the Audit Committee. Financial Interest - A Board member, Officer or Key Person or a relative of such person has a financial interest if the person (i) is a party to or (ii) is negotiating a transaction or arrangement with the Cemetery or has, directly or indirectly: a) An ownership or investment interest in any entity with which the Cemetery has a transaction or arrangement, b) A compensation arrangement with any entity or individual with which the Cemetery has a transaction or arrangement, or c) A potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the Cemetery is negotiating a transaction or arrangement. Review of Disclosed Information - The Audit Committee, after disclosure of a financial interest and review of the material facts, shall make all determinations regarding whether a conflict of interest exists and, if so, its resolution. A conflict shall exist in all events with respect to a Related Party Transaction. An interested Board member, Officer or Key Person shall not be present at, or participate in, or vote with respect to any such determination. No person interested in such determination shall attempt to influence the deliberations of the Audit Committee in the voting with respect to any such determination. The existence and resolution of a conflict of interest shall be documented in the Cemetery's records and in the minutes of the applicable Audit Committee meeting. Only Audit Committee members who are independent directors as defined in NPCL Section 102(a)(21) may vote with respect to the matters reported to the Audit Committee in accordance with this Policy. Related Party Transactions - The Cemetery shall not enter into any transaction, agreement or any other arrangement in which a Related Party has a financial interest and in which the Cemetery is a participant (a "Related Party Transaction"), unless the transaction is determined by the Audit Committee to be fair, reasonable and in the Cemetery's best interest at the time of such determination. Any Related Party who has an interest in a Related Party Transaction shall disclose in good faith to the Board of Directors, the material facts concerning such interest. "Related Party" shall mean (i) any Director, Officer or Key Person; (ii) any relative of any Director, Officer or Key Person; (iii) any entity in which any individual described in clauses (i) and (ii) has a 35% or greater ownership or beneficial interest or, in the case of a partnership or professional corporation, a direct or indirect ownership interest in excess of 5%; and (iv) any other person falling within the definition of "Related Party" contained in NPCL Section 102(a)(23). In addition to the procedures set forth in the prior paragraph, if the Related Party has a substantial financial interest in a Related Party Transaction, the Audit Committee shall (i) prior to entering into the transaction, consider alternative transactions to the extent available; (ii) approve the transaction by not less than a majority vote of the Committee members present at a meeting and (iii) contemporaneously document in writing the basis for the Committee's approval, including its consideration of any alternative transactions. No Related Party may participate in deliberations or voting relating to matters set forth in the prior two paragraphs. Further Information - Nothing contained herein shall prohibit the Audit Committee from requesting that a person with a financial interest or a Related Party present information as background or answer questions concerning a conflict of interest or a Related Party Transaction at a meeting of the Audit Committee prior to the commencement of deliberations or voting relating thereto. De Minimis and Ordinary Course of Business Transactions - Notwithstanding the foregoing, a transaction shall not be a Related Party Transaction nor a potential conflict of interest if the transaction or the Related Party's or interested person's financial interest in the transaction is de minimis or if the transaction would not customarily be reviewed by the Board or Boards of similar organizations in the ordinary course of business and is available to others on the same or similar terms. Gifts and Entertainment - No Board member, Officer or Key Person shall accept gifts or entertainment from persons dealing with the Cemetery that might be considered by an objective observer to have the potential for influencing his or her conduct of the business of the Cemetery. This requirement is not intended to prohibit the exchange of social amenities or business courtesies consistent with good taste and mature judgment. Relative - As used in this Policy, the term "relative" means (i) his or her spouse or domestic partner as defined in section twenty-nine hundred ninety-four-a of the New York Public Health Law, (ii) his or her ancestors, brothers and sisters (whether whole or half blood), children (whether natural or adopted), grandchildren, great-grandchildren, or (iii) the spouse or domestic partner of his or her brothers, sisters, children, grandchildren, and great-grandchildren. Form 990, Part VI, Section B, Line 15 Kensico's policy on the Process of Determining Compensation is as follows: Pursuant to Section 715(e) of the New York Not-For-Profit Corporation Law and Section 6.05 of the Bylaws of The Kensico Cemetery, compensation paid to officers is fixed by the Board of Directors at the Annual Budget meeting of the Board held in December each year. An affirmative vote of the majority of the entire Board is required when fixing officers' compensation. The compensation established at the Annual Budget meeting applies for the following calendar year. As with all Board meetings, written Minutes with respect to the deliberations and decisions of the Board regarding compensation are contemporaneously made and maintained. The Board will follow this same process with respect to any non-officer key employee. In determining the compensation of officers and key employees, the Board will consider: 1. Comparable compensation data available from public and private services relating to not-for-profit institutions, cemeteries and other organizations; 2. The performance of the Cemetery as a whole and the performance of each aspect of the Cemetery's operation and services, the enhancement of the Cemetery trust funds and the general economy; and 3. The personal performance of the officer or key employee. Any officer or key employee who is a member of the Board shall be excused for the portion of the Annual Budget Meeting that determines the compensation of that officer or key employee. As used herein, the term "compensation" shall include salaries, fees and fringe benefits and the term "key employee" shall have the same meaning as provided by the Internal Revenue Service with respect to the filing of Form 990. Form 990, Part VI, Section C, Line 19 Governing documents, conflict of interest policy and financial statements are made available to the public upon request. Form 990, Part IX, Line 11g Other fees for services consist of: Tree & landscape maintenance services $1,027,009; Credit card processing fees $438,242; Excavation & septic system contractor $50,905; Actuary & PBGC FEES $50,077; Office cleaning services $41,035; Sanitation & waste removal $17,668; Inscriptions & embellishments $28,622; Payroll processing fees $30,041; Safety training consultant $20,949; Electrician $18,301; Geese removal $13,390; Caterer $9,000; Boiler & AC maintenance $10,720; Install private mausoleum foundations $249,478; Recruiter placement fees $40,888; Other fees for services $213,951. Form 990, Part XI, Line 9 Other changes in net assets: Pension benefit liability adjustment $1,702,158; Other benefits liability adjustment $(340,350); Other components of net periodic pension cost $574,521; Other components of net periodic post retirement cost $(13,151). The Perpetual Care Trust Fund Administered by The Kensico Cemetery as TTEE PO Box 7 Valhalla NY 10595 133582509 See Part VII NY 501(c)(13) N/A The Kensico Cemetery 1 Friends of The Kensico Cemetery Inc 273 Lakeview Avenue Valhalla NY 10595 853219300 See Part VII NY 501(c)(3) Line 7 The Kensico Cemetery 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 The Perpetual Care Trust Fund Administered by The Kensico Cemetery as TTEE q 1282825 Cost The Perpetual Care Trust Fund Administered by The Kensico Cemetery as TTEE r 539992 Cost Schedule R, Part II Identification of Related Tax-Exempt Organizations Line 1b Primary Activity: The Perpetual Care Trust Fund Administered by The Kensico Cemetery as Trustee is a commingled fund comprised of funds which are to be held in perpetuity for the specific benefit of endowed lots. The income derived from these funds is used to provide perpetual care maintenance and services per the endowment agreements. Friends of The Kensico Cemetery Inc's primary exempt function is the promotion and advancement of the welfare of The Kensico Cemetery and to provide support to tax exempt organizations operating within Westchester, New York. Schedule R, Part V, Line 1q Reimbursement paid by related organization for expenses $1,282,825. The Perpetual Care Trust Fund Administered By The Kensico Cemetery As Trustee reimbursed The Kensico Cemetery for the following services at cost: 1. Care and maintenance of cemetery lots consisting of mowing, reseeding, fertilization, liming of lawn area and other special lawn treatments totaling $1,163,932. 2. Plant care and flowers totaling $5,961. 3. Cleaning and pointing of monuments and mausoleums totaling $91,954. 4. Insurance expense for mausoleum windows totaling $ 2,666. 5. Reimbursement to The Kensico Cemetery for administrative charges in administering and servicing The Perpetual Care Trust Fund for both principal and income accounts totaling $92,407 net of deficit funding of $74,095 by Kensico. Schedule R, Part V, Line 1r Other transfer of cash or property to related organization $539,992. The Kensico Cemetery transferred to The Perpetual Care Trust Fund Administered by The Kensico Cemetery as Trustee endowments received and deposited into the General Fund of The Kensico Cemetery. The General Fund transfers any money received for endowments to The Perpetual Care Trust Fund on a monthly basis. Total transfers for 2024 endowments received were $539,992.