2025-01-15T10:13:39-06:00 2024-02-29 410746749 CLIFTONLARSONALLEN LLP 2021 SPRING ROAD SUITE 200 OAK BROOK IL 60523 990 2023-03-01 860410807 PEOPLE OF FAITH INC PEOP 6239332807 10015 WEST ROYAL OAK ROAD SUN CITY AZ 85351 A CARTER SMITHERMAN CFO 6239332807 2025-01-14 1 1 CHAD D KUNZE CPA P00639380 6305738600 2025-01-14 2023 2024-10-15 13:58:12Z ROYAL OAKS KENDRA EBERHART 10015 WEST ROYAL OAK ROAD SUN CITY AZ 85351 80595743 0 X WWW.ROYALOAKS.COM X 1983 AZ PROVIDE HOUSING THAT PROMOTES COMFORT, SECURITY, INDEPENDENCE & LIFE SATISFACTION FOR RESIDENTS. 14 14 585 300 0 0 616249 691450 29942600 34381388 3174907 4076981 61474 69080 33795230 39218899 41554 46000 0 0 17860817 20881849 0 0 0 18628608 24491879 36530979 45419728 -2735749 -6200829 269858549 300609719 220829150 247498326 49029399 53111393 TO PROVIDE THE HOUSING AND AMENITIES THAT PROMOTE A HIGH DEGREE OF COMFORT, SECURITY, INDEPENDENCE AND LIFE SATISFACTION FOR OUR RESIDENTS AND FUTURE RESIDENTS. 0 0 39695544 46000 34381388 DURING THE FISCAL YEAR ENDED FEBRUARY 29, 2024, ROYAL OAKS PROVIDED LIFE CARE SERVICES TO APPROXIMATELY 585 RESIDENTS ON A 52-ACRE CAMPUS CONSISTING OF 502 RESIDENTIAL HOMES AND APARTMENTS, 59 ASSISTED LIVING HOMES, A 56-UNIT MEMORY CARE FACILITY, AND A 60-BED HIGH ACUITY ASSISTED LIVING CENTER. 39695544 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 140 0 585 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X A CARTER SMITHERMAN 6239332807 10015 WEST ROYAL OAK ROAD SUN CITY AZ 85351 KENDRA EBERHART PRESIDENT & CEO 39.00 1.00 X 478133 0 88727 GRETCHEN COBB COO 39.00 1.00 X 285674 0 85068 A CARTER SMITHERMAN CFO 39.00 1.00 X 236930 0 67343 DINA JO CAPEK DIRECTOR OF HEALTH SERVICE 40.00 0.00 X 200552 0 32411 DARIN YOUNG FACILITIES DIRECTOR 40.00 0.00 X 145488 0 19513 KARI DICKSON RELATIONS DIRECTOR 40.00 0.00 X 145488 0 17725 SUSAN CAREY ALTGILBERS IT DIRECTOR 40.00 0.00 X 137949 0 17447 JANET ADAMS DIRECTOR OF HUMAN RESOURCE 40.00 0.00 X 140562 0 12080 LOUIS JOHNSON CHAIR & TRUSTEE 1.00 0.00 X X 0 0 0 CLAUDIA RUMWELL VICE CHAIR & TRUSTEE 1.00 0.00 X X 0 0 0 JANIS RYAN TREASURER & TRUSTEE 1.00 0.00 X X 0 0 0 MARY BETH JOUBLANC SECRETARY & TRUSTEE 1.00 0.00 X X 0 0 0 ANDREW LENICK TRUSTEE 1.00 0.00 X 0 0 0 BILL GASTA TRUSTEE 1.00 0.00 X 0 0 0 DICK JORGENSON TRUSTEE (THRU 5/2023) 1.00 0.00 X 0 0 0 DR EUGENE STEVENS TRUSTEE (THRU 5/2023) 1.00 0.00 X 0 0 0 ELLEN DEAN TRUSTEE 1.00 0.00 X 0 0 0 HOWARD POCH TRUSTEE (THRU 5/2023) 1.00 0.00 X 0 0 0 JOHN WALTER TRUSTEE 1.00 0.00 X 0 0 0 RAMONA PANICCI TRUSTEE 1.00 0.00 X 0 0 0 REV GARY BENSON TRUSTEE 1.00 0.00 X 0 0 0 ROGER MCCLAIN TRUSTEE (BEGAN 5/2023) 1.00 0.00 X 0 0 0 TERESA HAIRE TRUSTEE 1.00 0.00 X 0 0 0 TUCKER MACON TRUSTEE 1.00 0.00 X 0 0 0 WILL RICHARD TRUSTEE 1.00 0.00 X 0 0 0 1770776 0 340314 8 0 1 0 SUNDT CONSTRUCTION INC 2620 S 55TH ST TEMPE AZ 85282 INDUSTRIAL AND BUILDING SERVICES 15684084 GCON INC 1606 W WHISPERING WIND DR PHOENIX AZ 85085 DINING ROOM REMODEL 2030262 SENTINEL TECHNOLOGIES 1241 W WARNER RD 112 TEMPE AZ 85284 TECHNOLOGY SERVICES 649241 AVCOMM TECHNOLOGY SOLUTIONS LLC 11 E BELL RD 110 PHOENIX AZ 85022 TECHNOLOGY SERVICES 594574 PERKINS EASTMAN ARCHITECTS DPC 115 FIFTH AVENUE NEW YORK NY 10003 ARCHITECTURAL DESIGN AND ENGINEERING 485116 27 543773 147677 691450 RESIDENT REVENUES 623000 26052017 26052017 ENTRANCE FEES 623000 7485711 7485711 RESIDENT AMENITIES 900099 513072 513072 MEALS 721000 330588 330588 34381388 1815421 1815421 36836 0 36836 36836 36836 43596703 41183002 152141 2413701 -152141 2261560 2261560 25430 41701 -16271 -16271 MISCELLANEOUS INCOME 900099 48515 48515 48515 39218899 34381388 0 4146061 46000 46000 16946783 15328069 1618714 333443 301594 31849 2193834 1873889 319945 1407789 1273320 134469 91027 91027 63714 63714 291368 291368 2087486 1970971 116515 1805218 1803055 2163 562265 460206 102059 125168 15507 109661 2373375 2182625 190750 89606 62094 27512 23554 16081 7473 2444179 2346534 97645 9353277 7909482 1443795 561676 561676 FOOD 2488207 2336689 151518 PROPERTY AND EQUIPMENT 1607996 1367537 240459 DUES & SUBSCRIPTIONS 212192 159898 52294 RESIDENT EVENT AND ACTI 122023 118620 3403 189548 123373 66175 45419728 39695544 5724184 0 4897722 3117922 27699974 31179590 120343 1112510 407867 408919 996686 959446 285964632 86913011 176811570 199051621 58503695 63472669 420692 1307042 269858549 300609719 15216689 11270923 52059715 75341466 146179924 144772922 7037385 12683071 335437 3429944 220829150 247498326 X 49029399 53111393 49029399 53111393 269858549 300609719 X -6200829 8294901 1987922 X X 0 1 X 1 0 X 593202 1325134 595536 616249 691450 3821571 28042079 26699166 28340783 29942600 34381388 147406016 28635281 28024300 28936319 30558849 35072838 151227587 133973 125049 154642 159761 259617 833042 0 133973 125049 154642 159761 259617 833042 150394545 1773975 1331736 1340649 1449152 1852257 7747769 1773975 1331736 1340649 1449152 1852257 7747769 369635 174618 118342 46206 48515 757316 30778891 29530654 30395310 32054207 36973610 159732672 0.94150 0.94150 0.04850 0.04800 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 369,635. 2020 AMOUNT: $ 174,618. 2021 AMOUNT: $ 118,342. 2022 AMOUNT: $ 46,206. 2023 AMOUNT: $ 48,515. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 9464970 9464970 236242866 75754114 160488752 15666134 15666134 19283477 11158897 8124580 5307185 5307185 199051621 LEASE PAYABLES 1149371 DUE TO FOUNDATION 2280573 3429944 47263549 8294901 8294901 38968648 250251 250251 39218899 45169477 0 45169477 250251 250251 45419728 PART IV, LINE 2B: APPLICATION FEES CONSIST OF DEPOSITS BY INDIVIDUALS WHO HAVE BEEN PLACED ON A PRIORITY LIST FOR A RESIDENT UNIT AND ARE FULLY REFUNDABLE. CUSTOMER DEPOSITS CONSIST OF A ONE MONTH DEPOSIT FOR RESIDENTS THAT ARE ADMITTED TO ASSISTED LIVING WITHOUT A LIFE CARE CONTRACT. THE DEPOSIT IS FULLY REFUNDED BY MOVE OUT OR DEATH OF THE RESIDENT. A MINIMUM DEPOSIT OF 10% OF THE TOTAL ENTRANCE FEE IS REQUIRED BEFORE AN INDEPENDENT UNIT IS CONSIDERED RESERVED. PRIOR TO OCCUPANCY, APPLICANTS WHO SIGN LIFE CARE CONTRACTS MAY, UPON CANCELLATION WITHIN A RESCISSION PERIOD, CANCEL THEIR CONTRACT AND RECEIVE A REFUND OF THEIR DEPOSIT. IF AN APPLICANT DIES OR BECOMES DISABLED PRIOR TO OCCUPYING THE UNIT, OR IF A PROSPECTIVE RESIDENT'S APPLICATION IS DENIED, ALL FUNDS DEPOSITED WILL BE REFUNDED. 1 SUN CITY COMMUNITY ASSISTANCE NETWORK 10195 W COGGINS DR SUN CITY AZ 85351 205690700 501(C)(3) 10000 0 GENERAL SUPPORT THE SUN CITY POSSE INC PO BOX 2229 SUN CITY AZ 85372 510178773 501(C)(3) 10000 0 GENERAL SUPPORT SUN CITY FIRE DEPARTMENT 18602 N 99TH AVE SUN CITY AZ 85373 GOVERNMENTAL 25000 0 GENERAL SUPPORT 3 X X X X 1 1 0 0 0 0 0 0 0 KENDRA EBERHART PRESIDENT & CEO 339072 0 115960 0 23101 0 82891 0 5836 0 566860 0 0 0 GRETCHEN COBB COO 223095 0 43341 0 19238 0 69782 0 15286 0 370742 0 0 0 A CARTER SMITHERMAN CFO 188081 0 36837 0 12012 0 52057 0 15286 0 304273 0 0 0 DINA JO CAPEK DIRECTOR OF HEALTH SERVICE 166376 0 23726 0 10450 0 18185 0 14226 0 232963 0 0 0 DARIN YOUNG FACILITIES DIRECTOR 116451 0 15401 0 13636 0 5287 0 14226 0 165001 0 0 0 KARI DICKSON RELATIONS DIRECTOR 125728 0 10388 0 9372 0 11629 0 6096 0 163213 0 0 0 SUSAN CAREY ALTGILBERS IT DIRECTOR 115160 0 17374 0 5415 0 14431 0 3016 0 155396 0 0 0 JANET ADAMS DIRECTOR OF HUMAN RESOURCE 51289 0 16823 0 72450 0 6670 0 5410 0 152642 0 0 0 PART I, LINES 4A-B THE PRESIDENT & CEO, COO AND CFO PARTICIPATED IN A 457(F) PLAN DURING THE YEAR. THE PLAN PROVIDES THE PARTICIPANT WITH SUPPLEMENTAL DEFERRED COMPENSATION, SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE, TO ENCOURAGE CONTINUED EMPLOYMENT FOR A SIGNIFICANT PERIOD OF TIME. IN 2023, $60,516 ACCRUED WITHIN THE PLAN FOR THE PRESIDENT & CEO; $40,005 ACCRUED WITHIN THE PLAN FOR THE COO; AND, $36,752 ACCRUED WITHIN THE PLAN FOR THE CFO. THESE AMOUNTS ARE INCLUDED IN PART II, COLUMN C AS OTHER DEFERRED COMPENSATION. JANET ADAMS RECEIVED A SEVERANCE PAYMENT OF $56,455. A THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF GLENDALE ARIZONA 521767454 378287AP1 2016-08-03 39699349 CURRENT REFUNDING 0 0 0 B THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF GLENDALE ARIZONA 521767454 378287BA3 2020-12-16 145545207 NEW FACILITY CONSTRUCTION 0 0 0 A 7190000 39699349 795329 38904020 2016 1 0 1 1 B 145545207 5372217 2561585 109659988 27751417 2022 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF GLENDALE, DATE THE REBATE COMPUTATION WAS PERFORMED: 11/09/2021 FORM 990, PART VI, SECTION A, LINE 1A THE ORGANIZATION HAS AN EXECUTIVE COMMITTEE CONSISTING OF THE OFFICERS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS THE POWER TO ACT ON BEHALF OF THE BOARD BETWEEN MEETINGS OF THE BOARD. THE EXECUTIVE COMMITTEE ALSO ANNUALLY EVALUATES THE PERFORMANCE OF THE PRESIDENT & CEO. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 WAS REVIEWED BY THE CFO AND THE DRAFT WAS UPLOADED TO A SECURE BOARD PORTAL FOR REVIEW BY THE BOARD OF TRUSTEES. AT THE NEXT AVAILABLE BOARD MEETING SUBSEQUENT TO FILING, THE FORM 990 IS PRESENTED AND DISCUSSED. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD ANNUALLY REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY. COMMUNICATION WITH BOARD MEMBERS ENSURES THAT ALL CONFLICTS ARE DISCLOSED. IF A CONFLICT EXISTS, A BOARD MEMBER DISCLOSES SUCH CONFLICT, REFRAINS FROM VOTING, DOESN'T USE THEIR PERSONAL INFLUENCE ON THE MATTER, AND IS NOT COUNTED IN DETERMINING A QUORUM FOR THE MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT & CEO'S COMPENSATION IS REVIEWED BY AN INDEPENDENT COMPENSATION CONSULTANT AND APPROVED BY THE BOARD OF TRUSTEES. THE ORGANIZATION USES SEVERAL SOURCES, INCLUDING FORMS 990 OF OTHER ORGANIZATIONS AND INDUSTRY COMPENSATION STUDIES. REVIEWS ARE CONDUCTED ANNUALLY AND ARE DOCUMENTED IN EMPLOYEE FILES. OTHER OFFICER AND KEY EMPLOYEE COMPENSATION IS REVIEWED BY THE PRESIDENT & CEO AND THE DIRECTOR OF HUMAN RESOURCES. THE ORGANIZATION USES SEVERAL SOURCES TO DETERMINE COMPENSATION, INCLUDING INDEPENDENT COMPENSATION CONSULTANTS, REVIEWS ARE CONDUCTED ANNUALLY AND ARE DOCUMENTED IN EMPLOYEE FILES. THE MOST RECENT COMPENSATION REVIEWS OCCURRED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: INTERCOMPANY TRANSFERS 1,987,922. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 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