FRIENDSHIP RETIREMENT CORPORATION (EIN 860265218) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1970

Legal Domicile

Principal Officer

JOHN THORHAUER

Phone

6238473005

Tax Period

2023-01-01 to 2023-12-31

FRIENDSHIP RETIREMENT CORPORATION, founded in 1970, is a mid-sized nonprofit in the Human Services sector that reported $29.6M in total revenue in fiscal year 2023. The organization ran a surplus of $4.9M, a strong 17% operating margin.

Mission

THE MISSION OF GLENCROFT IS TO PROVIDE A BROAD CONTINUUM OF HIGH QUALITY SENIOR SERVICES IN A MANNER THAT DEMONSTRATES CHRISTIAN LOVE AND COMPASSION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $242,039

Program Service Revenue $27,460,770

Investment Income $87,228

Other Revenue $1,768,597

TOTAL REVENUE $29,558,634

Expense Breakdown

Grants Paid $0

Salaries & Benefits $14,193,176

Fundraising Expenses $132,536

Program Expenses $21,286,280

Other Expenses $10,445,558

TOTAL EXPENSES $24,638,734

Year-over-Year Comparison

	2023	2022	Change
Revenue	$29,558,634	$29,398,220	+0.0%
Expenses	$24,638,734	$31,146,822	-0.2%
Net Income	$4,919,900	$-1,748,602	-3.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

629

Volunteers

231

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$518,688

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHY ECKSTEIN	CHAIR	2.00	Officer Director	$0	$0	$0
JACQUELYN SMITH	VICE CHAIR	2.00	Officer Director	$0	$0	$0
BRIAN HOLLRAH	TREASURER	2.00	Officer Director	$0	$0	$0
STEVE KOCH	SECRETARY	5.00	Officer Director	$0	$0	$0
NINA SHAH MD	DIRECTOR	5.00	Director	$0	$0	$0
PETE PATTERSON MD	DIRECTOR	2.00	Director	$0	$0	$0
LISA MONTMAN CPA	DIRECTOR	2.00	Director	$0	$0	$0
FLOYD WHITTAKER	DIRECTOR	2.00	Director	$0	$0	$0
DYAN BYMARK	DIRECTOR	2.00	Director	$0	$0	$0
JOHN THORHAUER	CEO	20.00	Officer	$349,201	$4,839	$354,040
DON MAY	CFO	8.00	Officer	$161,420	$3,228	$164,648
MICHAEL A MCCAMMOND	CAO	20.00	Highest	$139,959	$9,224	$149,183
SCOTT MCCLINTOCK	CHIEF HEALTH OFFICER	40.00	Highest	$154,940	$3,643	$158,583
TOMMY MEDINA	CHIEF PEOPLE OFFICER	40.00	Highest	$126,929	$8,751	$135,680
MARY BAKER	EXECUTIVE DIRECTOR FOUNDAT	20.00	Highest	$108,218	$5,316	$113,534
BENDU SANOH	NURSING ADMIN - VICE PRESIDENT	40.00	Highest	$132,648	$5,762	$138,410

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$29,558,634	$24,638,734	$24,767,329	$4,919,900
2022	$29,398,220	$31,146,822	$20,788,807	$-1,748,602
2021	$27,946,854	$29,267,306	$25,414,864	$-1,320,452
2020	$31,963,306	$30,865,810	$28,671,455	$1,097,496
2019	$29,092,708	$29,313,654	$28,740,744	$-220,946
2018	$29,167,423	$28,150,976	$27,297,251	$1,016,447

FRIENDSHIP RETIREMENT CORPORATION