FRIENDSHIP RETIREMENT CORPORATION

EIN: 860265218 501(c)(3) Human Services

GLENDALE, AZ

Total Revenue
$29,558,634
Total Expenses
$24,638,734
Total Assets
$24,767,329
Net Assets
$10,071,624
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1970
Legal Domicile
AZ
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

OUR MISSION IS TO EMPOWER PEOPLE TO LIVE THEIR BEST LIVES, AND OUR VISION IS TO BE THE PREMIER PROVIDER OF AFFORDABLE SERVICES ENRICHING QUALITY OF LIFE FOR EVERYONE AT EVERY STAGE OF LIFE. TO ACCOMPLISH, OUR VALUES SHALL INCLUDE:INTEGRITY - WE ADHERE TO THE HIGHEST ETHICAL STANDARDS.COMPASSION - WE ARE SENSITIVE TO EVERY PERSON'S UNIQUE NEEDS.EXCELLENCE - WE ARE ACCOUNTABLE TO DELIVER EXCELLENCE IN OUR WORK.INNOVATION - WE DEVELOP AND GROW BY PROVIDING LEADING-EDGE SERVICES.SUSTAINABILITY - WE USE RESOURCES EFFICIENTLY.COLLABORATION - WE FURTHER OUR MISSION THROUGH COOPERATIVE EFFORTS.

Program Service Accomplishments

Program 1
Expenses: $21,286,280 Revenue: $27,460,770

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...

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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.

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Trantor Score

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

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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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Governance

Voting Members
9
Independent Members
9
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
6
$518,688
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
5
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
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