2022-10-28T16:30:10-05:00 2021-12-31 910189318 MOSS ADAMS LLP 21700 OXNARD ST STE 300 WOODLAND HILLS CA 91367 990 2021-01-01 860265218 FRIENDSHIP RETIREMENT CORPORATION FRIE 6238473005 8611 NORTH 67TH AVENUE GLENDALE AZ 85302 DON MAY CFO 6238473005 2022-10-27 1 DON MAY 999009999 LAUREN A HAVERLOCK P00545829 8185771900 2022-10-27 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z GLENCROFT JOHN THORHAUER 8611 NORTH 67TH AVENUE GLENDALE AZ 85302 29843594 0 X WWW.GLENCROFT.COM X 1970 AZ THE MISSION OF GLENCROFT IS TO PROVIDE A BROAD CONTINUUM OF HIGH QUALITY SENIOR SERVICES IN A MANNER THAT DEMONSTRATES CHRISTIAN LOVE AND COMPASSION. 12 12 708 218 0 0 6082658 1114024 23733589 24394687 112238 390954 2034821 2047189 31963306 27946854 0 0 0 0 19166868 18306779 0 0 242290 11698942 10960527 30865810 29267306 1097496 -1320452 28671455 25414864 20126919 18424015 8544536 6990849 X OUR MISSION IS TO PROVIDE A BROAD CONTINUUM OF HIGH QUALITY SENIOR SERVICES IN A MANNER THAT DEMONSTRATES CHRISTIAN LOVE AND COMPASSION. 0 0 21993426 0 24394687 SKILLED NURSING - OUR 225 BED CARE CENTER, KNOWN AS PROVIDENCE PLACE, IS LOCATED NEAR THE ENTRY TO OUR CAMPUS. CERTIFIED TO ACCEPT BOTH MEDICARE AND MEDICAID(ALTCS). THE CARE CENTER CONSISTENTLY RECEIVES A QUALITY RATING FROM THE DEPT. OF HEALTH SERVICES AND ENJOYS A STAR MEDICARE RATING. THE FOLLOWING CARE SERVICES ARE AVAILABLE: 24-HOURS SKILLED NURSING CARE, MEDICARE/SUB-ACUTE CARE UNIT, SHORT TERM, LONG TERM AND RESPITE CARE, COMFORT CARE, HOSPICE BEHAVIORAL HEALTHCARE, RESTORATIVE NURSING, CONTRACTED WITH MOST MANAGED CARE INSURANCE PLAN DAILY ACTIVITIES PROGRAM THAT INCLUDES OFF-CAMPUS TRIPS, COMPUTER FOR RESIDENT USE AND SOCIAL EVENTS AND ON-SITE CHAPLAINCY SERVICES AND VISITS.INDEPENDENT LIVING - THE CASITAS ARE ATTRACTIVE ONE AND TWO BEDROOM COURTYARD HOMES SITUATED IN EIGHT CHARMING COURTS SURROUNDING THE PERIMETER OF OUR 40 ACRE COMMUNITY. THESE LOVELY UNITS ARE EQUIPPED WITH REFRIGERATOR, RANGE, MICROWAVE, GARBAGE DISPOSAL, PERSONAL EMERGENCY RESPONSE SYSTEM, SMOKE DETECTOR, FIRE ALARM AND ASSIGNED COVERED PARKING. THERE IS A COMPLIMENTARY LAUNDRY ROOM AVAILABLE IN EACH COURT FOR RESIDENT USE AND CONVENIENCE. IN ADDITION, MOST UNITS ARE EQUIPPED WITH WASHER AND DRYER CONNECTIONS. TELEVISION, WATER, SEWER, TRASH REMOVAL AND USE OF ALL CAMPUS FACILITIES ARE COVERED IN THE MONTHLY RATES. IN ADDITION, MONTHLY RATES INCLUDE, BUT ARE NOT LIMITED TO, ALL ADMINISTRATIVE EXPENSE, REPAIRS AND MAINTENANCE OF BUILDINGS AND GROUNDS, SECURITY AND CAPITAL IMPROVEMENTS.ASSISTED LIVING - LICENSED FOR DIRECTED CARE ASSISTED LIVING, MANOR 1 PROVIDES QUALITY SUPPORT TO RESIDENTS NEEDING HELP THROUGHOUT THE COURSE OF THEIR DAY IN A SECURE SETTING. MANOR 1 ENHANCES QUALITY OF LIFE FOR EACH RESIDENT BY SUPPORTING THEM WITH AS LITTLE OR AS MUCH ASSISTANCE AS NEEDED. EACH RESIDENT CAN EXPERIENCE AS MUCH INDEPENDENCE AS POSSIBLE. FREEDOM FROM MEAL PREPARATION, LAUNDRY AND HOUSEKEEPING PROVIDES AN EXPERIENCE THAT MAKES LIFE COMFORTABLE. THE VILLAS ARE NESTLED IN THE HEART OF OUR COMMUNITY AND ARE BEAUTIFULLY DESIGNED ONE BEDROOM EFFICIENCY SUITES. THESE LOVELY UNITS ARE EQUIPPED WITH REFRIGERATOR, RANGE, MICROWAVE, GARBAGE DISPOSAL, PERSONAL EMERGENCY RESPONSE SYSTEM, SMOKE DETECTOR, FIRE ALARM AND INDIVIDUALLY CONTROLLED THERMOSTAT. THERE IS AN ELEVATOR AND COIN OPERATED LAUNDRY ROOM. 21993426 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 30 0 1 708 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X DON MAY 6238473005 8611 NORTH 67TH AVENUE GLENDALE AZ 85302 JOHN WENZLAU CEO (THRU 12/31/21) 20.00 20.00 X 260211 0 0 DON MAY CFO 8.00 32.00 X 157800 0 1688 CHRISTI IRWIN VP OF HEALTH SERVICES 40.00 0.00 X 149197 0 5532 SCOTT MCCLINTOCK CHIEF HEALTH OFFICER 40.00 0.00 X 146404 0 3380 MICHAEL A MCCAMMOND CAO 20.00 20.00 X 138251 0 11439 MARY BAKER EXECUTIVE DIRECTOR FOUNDAT 20.00 20.00 X 113713 0 4674 TOMMY MEDINA CHIEF PEOPLE OFFICER 40.00 0.00 X 123047 0 4921 JOHN THORHAUER CEO (AS OF 09/2021) 20.00 20.00 X 97668 0 0 CATHY ECKSTEIN CHAIR (AS OF 9/28/21) / DIRECTOR 2.00 8.00 X X 0 0 0 STEVE KOCH TREASURER (THRU 9/28/21) / DIRECTOR 5.00 20.00 X X 0 0 0 BRIAN HOLLRAH TREASURER (AS OF 9/28/21) 2.00 8.00 X X 0 0 0 JOHN SMITH SECRETARY 5.00 20.00 X X 0 0 0 MARY TEMM CHAIR (THRU 3/23/21) 5.00 20.00 X X 0 0 0 PETER PATTERSON MD DIRECTOR 2.00 8.00 X 0 0 0 JACQUELYN SMITH DIRECTOR 2.00 8.00 X 0 0 0 JOHN GOULD DIRECTOR 2.00 8.00 X 0 0 0 BRIAN FRANKE DIRECTOR (THRU 5/18/21) 2.00 8.00 X 0 0 0 ASHLEY IVERSON DIRECTOR 2.00 8.00 X 0 0 0 DYAN BYMARK DIRECTOR 2.00 8.00 X 0 0 0 JENNIFER MURPHEY DIRECTOR 2.00 8.00 X 0 0 0 1186291 0 31634 7 0 1 0 PROFESSIONAL REPS DEVELOPMENT 750 E COVEY LN 110 PHOENIX AZ 85024 CONSTRUCTION/RENOVATION 550158 TK ELEVATOR 3259 E HARBOUR DR 100 PHOENIX AZ 85034 CONSTRUCTION/RENOVATION 224755 FLOOR SOURCE LLC 17829 N BLACK CANYON HWY PHOENIX AZ 85023 CONSTRUCTION/RENOVATION 155975 3 1102 1112444 478 1114024 NURSING SERVICES 623000 16923726 16923726 RENTAL INCOME 623000 6494297 6494297 SERVICE FEES 623000 679007 679007 EARNED ENTRANCE FEES 623000 193532 193532 MANAGEMENT FEES 623000 90144 90144 13981 13981 24394687 39593 39593 2248101 1896740 351361 351361 351361 FOOD SERVICE INCOME 561499 1300850 1300850 HOUSEKEEPING/LAUNDRY 561499 239303 239303 TELEPHONE,INTERNET,TV 561499 171959 171959 335077 335077 2047189 27946854 24394687 0 2438143 492166 452898 39268 15500490 13570413 1879830 50247 78078 66521 11557 929880 846252 82429 1199 1306165 686282 472951 146932 88866 88866 67129 67129 219118 219118 441992 441992 2114065 362222 1747442 4401 1235113 846389 388632 92 9000 613 8387 52271 11475 40796 707633 707633 2349216 1874172 475044 380544 320669 59875 SUPPLIES 1597990 1559443 38547 RESIDENTIAL MPERS SERVI 454214 454064 150 LICENSES 418088 17278 400810 DUES AND SUBCRIPTIONS 229863 224935 4928 595425 445065 150209 151 29267306 21993426 7031590 242290 1449212 983904 5486856 1916596 1467546 2488738 107723 227976 186257 339731 50384263 36082336 15153158 14301927 1677298 1830805 174064 174064 2969341 3151123 28671455 25414864 2428988 1598841 819135 625603 12331358 12158408 193759 220573 1500000 1500000 2853679 2320590 20126919 18424015 X 8544536 6990849 8544536 6990849 28671455 25414864 -1320452 -233235 0 X X 0 1 X 0 1 1 X 416154 94652 258498 6082658 1114024 7965986 23900462 26663014 26404947 23733589 24394687 125096699 24316616 26757666 26663445 29816247 25508711 133062685 0 0 0 133062685 93953 115469 116449 78095 39593 443559 93953 115469 116449 78095 39593 443559 1619817 2266322 2300243 2034821 2047189 10268392 26030386 29139457 29080137 31929163 27595493 143774636 0.92550 0.92700 0.00310 0.00390 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: GUEST ROOM INCOME - 2017 AMOUNT: $ 30,195. 2018 AMOUNT: $ 24,393. 2019 AMOUNT: $ 26,220. 2020 AMOUNT: $ 12,290. 2021 AMOUNT: $ 3,990. HOUSEKEEPING SERVICES - 2017 AMOUNT: $ 191,442. 2018 AMOUNT: $ 205,984. 2019 AMOUNT: $ 219,354. 2020 AMOUNT: $ 226,775. 2021 AMOUNT: $ 239,303. TRANSPORTATION INCOME - 2017 AMOUNT: $ 57,112. 2018 AMOUNT: $ 25,027. 2019 AMOUNT: $ 7,690. 2020 AMOUNT: $ 13,060. 2021 AMOUNT: $ 17,910. OTHER PERSONAL SERVICE REVENUE - 2017 AMOUNT: $ 142,493. 2018 AMOUNT: $ 173,831. 2019 AMOUNT: $ 231,387. 2020 AMOUNT: $ 80,703. 2021 AMOUNT: $ 68,351. FOOD SERVICE INCOME - 2017 AMOUNT: $ 664,728. 2018 AMOUNT: $ 1,310,377. 2019 AMOUNT: $ 1,358,802. 2020 AMOUNT: $ 1,304,175. 2021 AMOUNT: $ 1,300,850. TELEPHONE INTERNET TV INCOME - 2017 AMOUNT: $ 260,812. 2018 AMOUNT: $ 280,734. 2019 AMOUNT: $ 220,340. 2020 AMOUNT: $ 182,464. 2021 AMOUNT: $ 171,959. SURE RESPONSE - 2017 AMOUNT: $ 136,353. 2018 AMOUNT: $ 150,976. 2019 AMOUNT: $ 154,599. 2020 AMOUNT: $ 160,354. 2021 AMOUNT: $ 159,216. COMMUNITY FEE - 2017 AMOUNT: $ 136,682. 2018 AMOUNT: $ 95,000. 2019 AMOUNT: $ 81,851. 2020 AMOUNT: $ 55,000. 2021 AMOUNT: $ 85,610. FORGIVENESS OF DEBT - OTHER REVENUE - LEGAL SETTLEMENT - RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 99744 99744 42645020 32816377 9828643 7136019 3265959 3870060 503480 503480 14301927 DUE FROM AFFILIATES 2991319 OPERATING LEASE ASSETS 159804 3151123 ENTRANCE FEE DEPOSITS 1735862 CAPITAL LEASE OBLIGATIONS 584728 2320590 X PART IV, LINE 2B: THE ORGANIZATION MAINTAINS ESCROW ACCOUNTS FOR RESIDENT SECURITY DEPOSITS. PART X, LINE 2: THE COMPANY QUALIFIES AS A TAX-EXEMPT CORPORATION DESCRIBED IN SECTION 501(C)(3) OF THE IRC AND, ACCORDINGLY, THERE IS NO PROVISION FOR INCOME TAXES. INCOME DETERMINED TO BE UNRELATED BUSINESS INCOME TAX WOULD BE TAXABLE. THE COMPANY APPLIES THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. THIS STANDARD PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE COMPANY IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. X X X 0 0 0 0 0 0 0 0 0 JOHN WENZLAU CEO (THRU 12/31/21) 260211 0 0 0 0 0 0 0 0 0 260211 0 0 0 DON MAY CFO 157800 0 0 0 0 0 1688 0 0 0 159488 0 0 0 CHRISTI IRWIN VP OF HEALTH SERVICES 149197 0 0 0 0 0 2090 0 3442 0 154729 0 0 0 A THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF GLENDALE ARIZONA 521767454 378286HZ4 2016-08-17 20726618 REFINANCING OF CURRENT DEBT 0 0 0 A 1360000 20726618 1271300 409200 13192055 5854063 2017 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 SCHEDULE K, PAGE 1, PART I, LINE (C), COLUMN (F): THE CAPITAL IMPROVEMENTS BENEFITTED FRIENDSHIP RETIREMENT CORPORATION, SARAH'S PLACE, INC , AND GLENCROFT TOWERS I, INC. AS SUCH, A PORTION OF THE BOND DEBT LIABILITY HAS BEEN ALLOCATED TO THOSE ENTITIES ON THEIR RESPECTIVE FORMS 990, PART X, PAGE 11, LINE 20. THE PARENT ORGANIZATION HAS ELECTED TO FILE ALL APPLICABLE SCHEDULE K REPORTING ON ITS RETURN, SO THERE IS NO SCHEDULE K REPORTING ON ANY RETURN EXCEPT THE PARENT ENTITY. SCHEDULE K, PAGE 1, PART II, LINE 11: THE OTHER SPENT PROCEEDS WERE USED TO REFUND A PRIOR ISSUANCE DATED 1/23/1997. FORM 990, PART VI, SECTION A, LINE 7A NEW BOARD MEMBERS, NOMINATED BY THE FRIENDSHIP RETIREMENT CORPORATION BOARD OF DIRECTORS, MUST BE APPROVED BY MENNONITE ALLIANCE HEALTH SERVICES (MHS). FORM 990, PART VI, SECTION A, LINE 7B NEW BOARD MEMBERS, NOMINATED BY THE FRIENDSHIP RETIREMENT CORPORATION BOARD OF DIRECTORS, MUST BE APPROVED BY MENNONITE ALLIANCE HEALTH SERVICES (MHS). MHS APPROVES THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS REVIEWED BY THE CFO AND THE FINAL DRAFT OF THE 990 IS EMAILED TO ALL BOARD MEMBERS PRIOR TO BEING FILED WITH THE IRS. BOARD MEMBERS HAVE A COMMENT PERIOD IN WHICH TO RESPOND WITH QUESTIONS OR CHANGES. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE COVERED UNDER THE CONFLICT OF INTEREST POLICY. THE BOARD CHAIR AND THE CEO DETERMINE IF THERE IS A CONFLICT OF INTEREST BASED ON CONFLICT OF INTEREST POLICY QUESTIONNAIRES GIVEN TO EACH BOARD MEMBER AT THE START OF THE BOARD YEAR. WHEN A CONFLICT ARISES, THE INTERESTED PARTY IS NOT ALLOWED TO VOTE ON THE ISSUE AND MAY BE ASKED TO LEAVE THE ROOM DURING DISCUSSION OF THE ISSUE. IT IS NOTED IN THE MINUTES WHEN SOMEONE HAS A CONFLICT AND THAT PERSON HAS ABSTAINED FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 SALARY SURVEYS OR INFORMATION FROM LEADINGAGE ARIZONA, LEADING AGE, AND OTHER 990 INFORMATIONAL TAX RETURNS ARE USED BY THE INDEPENDENT MEMBERS OF THE BOARD TO DETERMINE THE COMPENSATION OF THE CEO. GOALS ARE MUTUALLY DETERMINED. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CONFLICT OF INTEREST POLICY IS AVAILABLE UPON FORMAL REQUEST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. GLENCROFT TOWERS I INC 8611 N 67TH STREET GLENDALE AZ 85302 860861606 LOW INCOME HOUSING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 1 COLTER COMMONS INC 8611 N 67TH STREET GLENDALE AZ 85302 364662674 LOW INCOME HOUSING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 1 SARAH'S PLACE INC 8611 N 67TH STREET GLENDALE AZ 85302 364654886 ASSISTED LIVING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 1 FRIENDSHIP FOUNDATION INC 8611 N 67TH STREET GLENDALE AZ 85302 860501985 FUNDRAISING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 GLENCROFT TOWERS I INC Q 1649126 BOOK VALUE SARAH'S PLACE INC Q 200000 BOOK VALUE