Navigating a global public health crisis and an unprecedented spike in death rates in New Jersey, Thanexus provided clear direction to its shareholders for conducting business in a pandemic while still supplying outstanding day-to-day business service in 2020, according to the cooperative’s annual State of the Industry report.
Thanexus, the nation’s first funeral practice management cooperative, skillfully assessed a host of executive and administrative orders and changing directives from the Centers for Disease Control and Prevention and communicated a variety of public health mandates and best practices to shareholders.
The efforts helped to keep shareholder funeral homes compliant and operating safely during the COVID-19 pandemic.
“As the sheer depth of the COVID-19 pandemic became evident in March and April , the first objective of Thanexus was to ensure the safety and health of our worksite staff by providing clear instruction on arranging and conducting funerals amid overwhelming circumstances and constantly shifting directives,” said Thanexus Chair Timothy W. Brock, CFSP, and President George R. Kelder Jr., CFSP, in a message to shareholders. “Thanexus not only provided much needed guidance but also lobbied and advocated for mission-critical federal and state assistance where possible.”
And when that federal assistance came in the form of federal Paycheck Protection Program low-interest loans, Thanexus engaged participating lender institutions on behalf of shareholders to help loan officers understand the co-employment model of Thanexus, according to the report.
“As a result of proactive intervention by Thanexus, 44 of 45 shareholders that applied for the initial PPP loan were approved,” the report states.
The report, issued as Thanexus observed the 20th anniversary of its founding, also details the cooperative’s growth over two decades, from a small group of mission-minded funeral industry leaders to a thriving organization with more than 70 shareholders and a retirement plan with more than $100 million in assets.
The number of deaths in New Jersey jumped dramatically in 2020 because of the pandemic. Thanexus shareholders handled 19,749 funerals out of the 95,616 deaths reported as of April 21, 2021. The number of funerals arranged by shareholders was 23 percent above those arranged in 2019.
As part of the State of the Industry report, Thanexus uses actual W-2 wage data to calculate average and median salaries for several categories of employees. This year’s data shows that licensed owners earned an average of $133,949 per year, which is up from $121,639 in 2019. Licensed non-owners earned an average of $84,679, also up from $79,435 in 2021. Newly licensed non-owners also saw an increase, from $47,806 in 2019 to $55,665 in 2020.
The State of the Industry report also contains details on a number of key Thanexus activities, including:
- Patronage and distribution
- Risk management
- Health care
- Retirement plan
Those seeking a more comprehensive look at how Thanexus provides invaluable services to its shareholders can view the 2020 Thanexus State of the Industry here.
Interested in learning more about the Thanexus advantage?
Contact Chris Murphy at 888.309.5137 for a confidential discussion about how Thanexus can help your funeral home with its benefit offerings and staff oversight.