2026-04-22T08:21:07-05:00 2025-06-30 990 2024-07-01 231390618 The Devereux Foundation % ROBERT C DUNNE CFO DEVE 6105423065 444 Devereux Drive Villanova PA 19085 Robert Dunne CFO 6105423063 2026-04-22 true 2024 2025-03-06 01:10:19Z Carl E Clark II 444 Devereux Drive Villanova PA 19085 511362067 false X www.devereux.org X 1938 PA Devereux is a leading behavioral healthcare organization supporting many of the most underserved and vulnerable members of our communities. 3 0 7223 0 13996509 9870618 471502509 490324547 3319565 1142120 5351834 6581975 494170417 507919260 0 0 0 0 378893629 383781737 0 0 1607218 146826199 164723652 525719828 548505389 -31549411 -40586129 263391000 245748000 287145000 302729000 -23754000 -56981000 X DEVEREUX ADVANCED BEHAVIORAL HEALTH CHANGES LIVES BY UNLOCKING AND NURTURING HUMAN POTENTIAL FOR PEOPLE WITH EMOTIONAL, BEHAVIORAL, OR COGNITIVE DIFFERENCES. AT DEVEREUX ADVANCED BEHAVIORAL HEALTH, WE INTEGRATE THE LATEST SCIENTIFIC AND MEDICAL ADVANCEMENTS WITH TIME-TESTED PHILOSOPHIES AND COMPASSIONATE FAMILY ENGAGEMENT TO PROVIDE PRACTICAL, EFFECTIVE, AND EFFICIENT CARE, MAKING A MEANINGFUL DIFFERENCE IN THE LIVES OF THOSE WE SERVE, AND THE WORLD AROUND THEM. WE HELP CHANGE LIVES FOR PEOPLE WITH AUTISM, INTELLECTUAL AND DEVELOPMENTAL DISABILITIES, SPECIALTY MENTAL HEALTH NEEDS, AND CHILD WELFARE CONCERNS, WHILE SUPPORTING THE GOOD SOCIAL AND EMOTIONAL HEALTH OF ALL PEOPLE. false false 219336515 228456904 Campus-Based Residential/Education: Across its 14 centers, Devereux provides a spectrum of campus-based residential services including residential treatment for the autistic spectrum of disorders, substance abuse treatment, and including such challenging services as treatment for adolescent sexual offenders. Devereux offers age-appropriate educational services for students in its residential programs. These students may be in treatment for mental/emotional disorders, behavioral disorders, learning disabilities and intellectual and developmental disorders. The focus of these programs is to ensure the provision of high-quality services and resources in a safe and supporting environment. The average number of clients served by these programs was approximately 739 for year ending June 30, 2025. Expenses do not include management and general expenses in the amount of $ 21,975,989. 236269387 220657617 Community-Based Residential: Services include transitional living arrangements, group homes, supervised apartments, psycho-social rehabilitation day programs and vocational training programs for adolescents and adults with intellectual and developmental disabilities. In most of these community-based residential programs, Devereux staff provide 24/7 supervision and treatment of individuals. The average number of clients served by these programs is approximately 812 for year ending June 30, 2025. Expenses do not include management and general expenses of $ 23,672,544. 20480638 24456502 Foster Care: Devereux offers foster care in group foster homes and in therapeutic foster homes in Arizona, Florida, Georgia, Massachusetts, New Jersey, Texas and Pennsylvania. The average number of clients served by these programs is approximately 363 for year ending June 30, 2025. Expenses do not include management and general expenses of $ 2,052,017. For 4d. Other program services, expenses do not include management and general expenses of $ 2,104,694. 18391028 14298825 Outpatient/Other Services 2615360 2454699 Case Management 21006388 16753524 497092928 true true false true false false false false true true true false false true true true false true false false false false false false true false false false false true true false false false false false false false false false false true false false false true true true true false false false 1082 0 true 7223 true false false false false false true true false false false false false false false X 3 0 false false false false true true true true false false true true true true true true true true true true false AZ CA CO CT FL GA MA MI NJ NY PA RI TX WA X X ROBERT C DUNNE CFO 6105423063 444 DEVEREUX DRIVE Villanova PA 19085 Carl E Clark Chair, President and CEO 58.0 5.0 X X 773261 0 98001 Rhea Fernandes Sr VP Operations and Chief Ope 55.0 0.0 X X 559095 0 66553 Yolanda Graham Sr VP Chief Medical and Clinic 55.0 0.0 X 552952 0 67615 Robert C Dunne Sr. VP and CFO 55.0 5.0 X X 483837 0 35103 Leah Yaw Sr VP External Affairs / Chief 55.0 5.0 X 457022 0 58912 John Kane Sr VP Genl Counsel and Secy 55.0 5.0 X 447386 0 11996 Kelsey Lawson Sr VP Chief Risk and Safety Of 55.0 0.0 X 410095 0 41163 Michael Ernst Sr. VP People Operations 55.0 5.0 X 394955 0 38289 Gwendolyn Skinner VP Operations 55.0 0.0 X 343429 0 21737 Melanie Beidler VP Operations - Children's Ser 55.0 0.0 X 332043 0 30185 Stephen Bruce VP Operations - Adult Services 55.0 0.0 X 314967 0 29876 Manal Durgin Medical Services Director 55.0 0.0 X 283407 0 31021 Emilio Roig Psychiatrist 55.0 0.0 X 289493 0 23066 Thomas Shurer VP Information Systems 55.0 0.0 X 283198 0 18906 Jacalyn Auris VP Education Services 55.0 0.0 X 284031 0 13308 Kathy Marks VP Talent Management 55.0 0.0 X 268716 0 17395 Pamela Reed Executive Director, Texas 55.0 0.0 X 255336 0 25728 Wayne Zaayenga Dentist 55.0 0.0 X 248779 0 28519 Phil Putnam VP Quality Improvement 55.0 0.0 X 243297 0 25298 Christy Barr thru 1024 VP Chief Pharmacy Officer 55.0 0.0 X 260282 0 1892 Eric Eberman Executive Director, New Jersey 55.0 0.0 X 226714 0 15755 David A Griffith Controller 55.0 0.0 X 204642 0 14331 Keith Armson From 1024 VP Chief Pharmacy Officer 55.0 0.0 X 38780 0 745 7955717 0 715394 278 false true false STRADLEY RONON STEVENS YOUNG LLP 2005 MARKET STREET SUITE 2600 PHILADELPHIA PA 19103 LEGAL SERVICES 8246651 DUANE MORRIS LLP 30 SOUTH 17TH STREET PHILADELPHIA PA 19103 EMPLOYMENT & LGL SVC 1434139 RESTORE OT PT SLPPC 81 Mohawk Street COHOES NY 12047 ANCILLARY THERAPIES 745991 TRANSPERFECT LEGAL SOLUTIONS 1250 BROADWAY 32ND FLOOR NEW YORK NY 10001 LEGAL SERVICES 892760 EMPIRE FENCE LLC 4414 SHERWOOD FOREST DRIVE TITUSVILLE FL 32796 FENCE CONTRACTOR 791220 62 11963 950593 4907846 431445 3568771 1316516 9870618 CAMPUS BASED RESIDENTIAL/EDUCATION 623210 228456904 228456904 COMMUNITY-BASED RESIDENTIAL 623210 220657617 220657617 FOSTER CARE 624190 24456502 24456502 CASE MANAGEMENT 624190 2454699 2454699 OUTPATIENT/OTHER SERVICES 624190 14298825 14298825 490324547 918004 918004 0 0 298825 298825 0 298825 298825 2326000 837118 2332724 606278 -6724 230840 224116 224116 472417 946440 503805 -31388 0 0 0 0 0 0 MISCELLANEOUS 900099 6314538 6314538 6314538 507919260 496639085 1440945 0 0 0 0 6730576 2282180 4230580 217816 0 291283934 260868113 29471304 944517 8062132 6548963 1456926 56243 55734412 50272820 5335621 125971 21970683 19644560 2241367 84756 0 1392372 1133434 258938 512511 266506 246005 42000 39750 2250 0 0 27514705 26822153 640610 51942 113345 113345 26397823 25376167 944513 77143 6108365 5375612 723934 8819 0 26509796 24859932 1638472 11392 1622475 1185157 417495 19823 0 135777 29198 105281 1298 1708664 1691302 17362 0 13872076 12004639 1865441 1996 56950536 56775640 171644 3252 GIFTS IN KIND OFFSET 1257875 1257875 CONTINUING CARE -123487 -123487 CHANGE IN INTEREST RATE SWAP V 708819 708819 548505389 497092928 49805243 1607218 0 0 28733000 15356000 6809000 6956000 49576000 47299000 0 0 0 0 0 0 0 0 6648000 8145000 432044000 306280000 126856000 125764000 18303000 19934000 0 0 0 0 0 0 26466000 22294000 263391000 245748000 173264000 204586000 0 0 3960000 2028000 12825000 10430000 2351000 2589000 0 0 25843000 18304000 0 0 68902000 64792000 287145000 302729000 X -39289000 -72704000 15535000 15723000 -23754000 -56981000 263391000 245748000 X -40586129 275211 7083918 X false true X true true true X 17986681 18403106 17512064 13996509 9870618 77768978 499617013 496146224 491619235 476689622 496639085 2460711179 0 0 0 517603694 514549330 509131299 490686131 506509703 2538480157 0 0 0 2538480157 1204780 1629553 1071510 977117 1216830 6099790 0 1204780 1629553 1071510 977117 1216830 6099790 -74787 -74787 -32919 -45866 -79625 -126658 -31388 -316456 518700768 516133017 510123184 491536590 507695145 2544188704 0.99776 0.99800 0.00240 0.00218 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42000 42000 548463389 548505389 1000000 250000 false 1000000 1000000 1000000 3000000 4500000 6000 13500 42000 61500 250000 250000 250000 750000 1125000 Part II-A Devereux's lobbying activities relate to garnering greater support for individuals with behavioral, intellectual and developmental disabilities and educating public officials about Devereux's services. false true X 147547000 0 19264520 0 0 95520 166716000 169535000 0 21670249 0 43564121 94128 147547000 196243000 0 25703860 8700000 43617432 94428 169535000 195242000 25804345 -24709909 93436 196243000 144881000 3085152 47406900 131052 195242000 0.83000 0.06000 0.11000 false true true 5712902 5712902 243379105 172221591 71157514 7522504 3879430 3643074 56582746 46520181 10062565 118845538 83657593 35187945 125764000 OTHER ASSETS 834000 INSURANCE RECEIVABLE 889000 RIGHT OF USE ASSETS 20571000 22294000 0 ESTIMATED 3RD PARTY PAYOR SETT 9456000 CONTINUING CARE OBLIGATION 7172000 LOAN FROM HELENA DEVEREUX FOUN 23138000 OTHER 3098000 ORIGINAL ISSUE PREMIUM 287000 LEASE LIABILITIES 21641000 64792000 X Endowment Funds The endowment funds are held by a related non-profit organization, Helena Devereux Foundation (HDF). Endowment funds are used to support Devereux's programs through the implementation of a spending rule, which is in accordance with Commonwealth of Pennsylvania Act 141 and currently calls for an annual distribution equivalent of approximately 8.0% of the average endowment balance over the last 3 years. Part IV Line 2b Devereux maintains Social Security client trust funds and other amounts held for current needs of its clients and residents receiving treatment services. These funds are required to be maintained in separate accounts. Part X Line 2 Devereux is exempt from federal income tax on related income under Sections 501(a) and 501(c)(3) of the Internal Revenue Code as well as state and local income taxes pursuant to the corresponding state exemption provisions. Devereux has reviewed the technical merits of each of its tax positions in accordance with U.S. GAAP for uncertainty in income taxes and have determined there are no uncertain tax positions that would have a material impact on the consolidated financial statements. PA GALA 438212 258696 179516 0 0 2015 68016 13896 48989 PA GOLF 292912 157119 135793 0 9120 74208 32874 0 11959 9 687734 530625 157109 0 33817 24580 90491 56553 37286 1418858 946440 472418 0 42937 100803 191381 70449 98234 503804 -31386 X X X X X false true false false false false false true false Carl E Clark Chair, President and CEO 572000 0 177250 0 24011 0 87048 0 10953 0 871262 0 0 Rhea Fernandes Sr VP Operations and Chief Ope 450400 0 87100 0 21595 0 55600 0 10953 0 625648 0 0 Robert C Dunne Sr. VP and CFO 363400 0 88390 0 32047 0 24150 0 10953 0 518940 0 0 Yolanda Graham Sr VP Chief Medical and Clinic 438200 0 96100 0 18652 0 54934 0 12681 0 620567 0 0 Leah Yaw Sr VP External Affairs / Chief 356650 0 66800 0 33572 0 47959 0 10953 0 515934 0 0 John Kane Sr VP Genl Counsel and Secy 370350 0 75800 0 1236 0 10350 0 1646 0 459382 0 0 Michael Ernst Sr. VP People Operations 310900 0 59600 0 24455 0 36343 0 1946 0 433244 0 0 Kelsey Lawson Sr VP Chief Risk and Safety Of 321500 0 73200 0 15395 0 29670 0 11493 0 451258 0 0 Jacalyn Auris VP Education Services 236763 0 46494 0 774 0 11838 0 1470 0 297339 0 0 Melanie Beidler VP Operations - Children's Ser 274746 0 46714 0 10583 0 19232 0 10953 0 362228 0 0 Christy Barr thru 1024 VP Chief Pharmacy Officer 226904 0 33060 0 318 0 0 0 1892 0 262174 0 0 Stephen Bruce VP Operations - Adult Services 262660 0 47545 0 4762 0 18923 0 10953 0 344843 0 0 Thomas Shurer VP Information Systems 233296 0 43234 0 6668 0 17109 0 1797 0 302104 0 0 Gwendolyn Skinner VP Operations 287011 0 52316 0 4102 0 20091 0 1646 0 365166 0 0 Kathy Marks VP Talent Management 225611 0 42691 0 414 0 6955 0 10440 0 286111 0 0 Phil Putnam VP Quality Improvement 204451 0 37863 0 983 0 14686 0 10612 0 268595 0 0 David A Griffith Controller 187872 0 16500 0 270 0 13151 0 1180 0 218973 0 0 Emilio Roig Psychiatrist 287831 0 0 0 1662 0 20148 0 2918 0 312559 0 0 Manal Durgin Medical Services Director 282064 0 0 0 1343 0 20068 0 10953 0 314428 0 0 Pamela Reed Executive Director, Texas 208031 0 40531 0 6774 0 15076 0 10652 0 281064 0 0 Wayne Zaayenga Dentist 245738 0 0 0 3041 0 17651 0 10868 0 277298 0 0 Eric Eberman Executive Director, New Jersey 189068 0 37232 0 414 0 5225 0 10530 0 242469 0 0 Part I Line 4b The organization has a supplemental executive retirement plan (SERP) in which participation in the plan is limited to the President/CEO and senior vice-presidents of the organization. Annually, the compensation committee of the board of trustees of the sole member may approve an annual contribution to the participant's account in an amount up to 10% of plan compensation for the year (as defined in the plan document). The participant shall become one hundred percent (100%) vested in his or her benefit under the Plan if while employed by Devereux, he or she (a) attains Normal Retirement Age, (b) dies or (c) becomes disabled. The benefits accrued under this plan are included in Retirement and other deferred compensation amounts in Part II. Part I Line 7 The organization has an incentive plan available to certain officers and other members of management. Annually, the board of trustees of the sole member determines and approves the incentive amounts for all officers. Incentive amounts are based on the achievement of Organizational and individual goals, which incorporate both qualitative and quantitative elements. For other members of management, incentives are determined by the officers. A Chester Co Health and Education Facility Authority 232265260 2012-11-01 8744656 Refund of 8/29/02 Chester County b false false false B Chester Co Health and Education Facility Authority 222265260 165579FX6 2016-10-26 20458423 Refund of 6/29/06 Bonds false false false A 6762710 0 8744656 0 0 0 95146 0 0 0 0 0 2012 true false true true B 9360000 0 20458423 0 0 0 319152 0 0 0 0 0 2016 true false true true A false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true B false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true A false false true false false false 0 false 0 false true B false false true false false false 0 false 0 false true A true B true X 10563 Cost of donated prop X 183962 Cost of donated prop X 6 434445 Mkt. Value X 7 56838 Sales Price X 50 221894 Cost of donated prop X Event tickets 7 4366 Cost of donated prop X Holiday-related items 73 79250 Cost of donated prop X Miscellaneous 453 323398 Cost of donated prop false true true Schedule M Line 32a For publicly traded securities that are contributed to Devereux, an outside brokerage firm receives the these securities, sells them, and remits the net proceeds to Devereux. Form 990 Part VI Section B Line 11 Form 990 is provided in hard-copy or electronically to all Board members in advance of the filing deadline. Board members are requested to provide comments or questions to the CFO. The comments are reviewed by the CFO, who directs the response to all Board questions, and where appropriate, directs changes to be made to the Form 990. Form 990 Part VI Section B Line 12c Representatives of Devereux dealing with clients, parents, guardians, vendors, competitors or anyone who does or seeks to do business with Devereux are required to act in Devereux's best interests, disregarding any personal preference or advantage. Representatives shall make prompt and full disclosure to his/her manager and to the Internal Audit Department (and, in the case of Trustees and senior managers, to the Board's Audit and Compliance Committee) via the Devereux Conflict of Interest form of any prospective or actual situation that involves, may involve, or might appear to involve a conflict of interest. Members of the same family or living within the same domicile may be employed by Devereux in the same center or department unless the center Director or department head determines such employment is not in Devereux's best interest. Relatives of senior management or trustees, as well as those working in Human Resources, Payroll, and Internal Audit, shall not be hired by Devereux in any capacity unless approved in advance by the President/CEO. Each Devereux employee has the responsibility to report any actual or perceived conflicts of interest to management, People Operations, Chief Risk and Safety Officer, or the Employee Helpline. The Helpline is an anonymous "whistleblower service", where complaints are processed by an independent third party retained by Devereux for this purpose and subsequently referred to the Chief Risk and Safety Officer. Annually, a copy of Devereux's business ethics policy is mailed or e-mailed to trustees, officers, directors and key personnel along with the annual Conflict of Interest Disclosure Statement, which must be signed and returned to the Chief Risk and Safety Officer within 30 days. The annual disclosure requires an acknowledgement of understanding Devereux's business ethics policy, as well as disclosure of any conflict, or appearance of a conflict, between personal interests and the interests of Devereux. Failure to comply or falsification of disclosure may result in disciplinary action, including possible dismissal. Newly-hired employees in the categories identified above are given this policy on the first day of their employment and are required to complete the annual Conflict of Interest Disclosure Statement immediately. All employees disclosing a conflict or potential conflict must have the Disclosure Statement reviewed and signed by the Executive Director at their location (President/CEO for Corporate staff) prior to sending it to Audit Services. All Annual Conflict of Interest Disclosure Statements identifying a conflict or potential conflict are reviewed by the Chief Risk and Safety Officer and any other officers or senior management determined to be appropriate, and submitted to the Audit & Compliance Committee of the Board of Trustees for review. No Disclosure Statement may be reviewed by the person submitting it or by a person directly supervised by the person submitting the report. Form 990 Part VI Section B Line 15b Devereux reviews officersExecutive Directors' salaries against the market on an annual basis. Oversight of this process is by the People Operations Committee of the Board of the sole member. During this benchmarking process, the Senior Vice President of People Operations conducts a review of salaries for benchmark positions for which there is sufficient market survey data and is focused on nonprofit competitors. Additionally, Form 990s of other comparable organizations are also reviewed on an annual basis from an analysis compiled by the Controller. Devereux's market for this salary review is primarily focused on similarly sized organizations (budget, number of employees, revenue) in the behavioral health industry and structure (system vs. single entities). The results of the review conducted are periodically validated by an outside compensation consultant. Form 990 Part VI Section C Line 19 Devereux's Form 990 is available to the public through posting on Guidestar (www.guidestar.org). It is also available upon request. The Audited Financial Statements are available through public disclosure websites since the organization has publicly traded debt. Devereux does not make its governing documents or conflict of interest policy available to the general public outside of this Form 990. Form 990 Part Part XI Line 9 The other changes in net assets or fund balances are due to intercompany net asset transfers. Form 990 Part VI, Lines 4, 6, 7, Part XII Line 2c The sole member of The Devereux Foundation (TDF) is Devereux Corporation (DC). DC has the ability to appoint trustees/directors of TDF. Certain governance decisions of TDF need to be ratified by DC. Additionally, the Audit and Compliance Committee of DC oversees the audit of the entire consolidated organization. QualityHealth Staffing LLC 444 Devereux Drive Villanova PA 19085 824576650 STAFFING ORG PA 0 12000 DEVEREUX QualityHealth Pharmacy LLC 444 Devereux Drive Villanova PA 19085 863353616 PHARMACY PA 5004273 1967000 Devereux Devereux Cleo Wallace 8405 Church Ranch Blvd Westminster CO 80021 840406820 Mental Hlth CO 501(c)(3) 10 Dev Foundatn true Devereux Cleo Wallace Foundation c/o Dev Found 444 Devereux Dr Villanova PA 19085 742277635 Support Org CO 501(c)(3) 11-I Cleo Wallace false The Helena Devereux Foundation 444 Devereux Drive Villanova PA 19085 300034707 Support Org PA 501(c)(3) 11-I Dev Corp false Turtle Creek Valley MHMR Inc 723 Braddock Ave Braddock PA 15104 251250510 MENTAL HEALTH PA 501(c)(3) 7 Dev Foundatn true Devereux Corporation 444 Devereux Drive Villanova PA 19085 871614404 FUNDRAISING PA 501(c)(3) 7 NA false ABH Arizona Inc 444 Devereux Drive Villanova PA 19085 873694796 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH California Inc 444 Devereux Drive Villanova PA 19085 873190667 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH Connecticut Inc 444 Devereux Drive Villanova PA 19085 873783342 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH Florida Inc 444 Devereux Drive Villanova PA 19085 873801247 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH Georgia Inc 444 Devereux Drive Villanova PA 19085 873731213 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH Massachusetts Inc 444 Devereux Drive Villanova PA 19085 873695111 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH New Jersey Inc 444 Devereux Drive Villanova PA 19085 873265165 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH New York Inc 444 Devereux Drive Villanova PA 19085 873731476 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH Pennsylvania Adult Services Inc 444 Devereux Drive Villanova PA 19085 873244800 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH Pennsylvania Childrens Services Inc 444 Devereux Drive Villanova PA 19085 873801572 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true ABH Texas Inc 444 Devereux Drive Villanova PA 19085 873783594 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true PLEA 1820 West Street Homestead PA 15120 237007910 MENTAL HEALTH PA 501(c)(3) 10 Dev Foundatn true false false true false false false false false true false true false false false false false false false The Helena Devereux Foundation c 9022730 Book value The Helena Devereux Foundation c 1976711 Book Value The Helena Devereux Foundation l 95520 Book Value Turtle Creek MHMR l 681133 Book Value ABH Pennsylvania Children's Services l 3489023 Book Value PLEA l 84436 Book Value ABH Pennsylvania Children's Services j 2117177 Book value Schedule R HDF is a recognized 509(a)(3) supporting organization of The Devereux organization, formed to manage and invest endowment funds to support the Devereux organization's activities. The following officers of Devereux are officers of HDF in the capacities given: Carl E. Clark, President and CEO; Robert C. Dunne, Sr. Vice President & CFO; John Kane, Sr. Vice President, General Counsel & Secretary; and David Griffith, Controller. HDF does not maintain separate facilities and operates from Devereux's corporate office. HDF has adopted a Spending Rule policy under which is approximately 8.0% of the endowment held by HDF is spent to support operations. Under this policy, HDF earned revenue that is transferrable in the amount of $16,633,889 to Devereux during the year. Like Devereux, HDF is a controlled entity of a common parent, Devereux Corporation. Part V 2 Devereux has $20,922,000 in outstanding intercompany borrowings from HDF at June 30, 2025. The purpose of the borrowings were to fund a variety of capital projects. Interest on the borrowings range from 4.5% to 5.0%, with principal and interest repaid monthly to HDF.