2017-11-14T20:57:55-06:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2016-01-01 860861606 GLENCROFT TOWERS I INC GLEN 6235743005 8611 NORTH 67TH AVENUE GLENDALE AZ 85302 BEN JARMUL CFO 6238473005 2017-11-14 1 JEFF PARKER P00970069 6022662248 67.137.57.251 2017-11-14 20:30:26 CS P E5B3DE0D3912423F4674614D8D53EC46F92FA908 AF9232A40734834E6FD6092D69C982177D7099A1 2016 2017-02-10 21:41:12Z JOHN N WENZLAU 8611 NORTH 67TH AVENUE GLENDALE AZ 85302 2443476 0 X WWW.GLENCROFT.COM X 2009 AZ THE MISSION OF GLENCROFT TOWERS I IS TO PROVIDE HIGH QUALITY HUD SUBSIDIZED HOUSING TO SENIORS IN A MANNER THAT DEMONSTRATES CHRISTIAN LOVE AND COMPASSION. 10 10 0 10 0 0 0 0 3544597 2442930 884 546 2145 0 3547626 2443476 0 0 0 0 1101083 751383 0 0 0 2543170 1998967 3644253 2750350 -96627 -306874 6390990 6432044 3372072 3720000 3018918 2712044 THE MISSION OF GLENCROFT TOWERS I IS TO PROVIDE HIGH QUALITY HUD SUBSIDIZED HOUSING TO SENIORS IN A MANNER THAT DEMONSTRATES CHRISTIAN LOVE AND COMPASSION. 0 0 886868 860988 INDEPENDENT LIVING SERVICES:GLENCROFT TOWERS I PROVIDES INDEPENDENT LIVING TO PERSONS WHO ARE AT LEAST 62 YEARS OF AGE AND MEET THE VERY LOW INCOME STANDARDS SET BY THE HOUSING AND URBAN DEVELOPMENT DEPARTMENT. THE ORGANIZATION RENTS STUDIOS, ONE AND TWO BEDROOM APARTMENTS TO QUALIFYING SENIORS. THE APARTMENTS HAVE BEEN REMODELED TO ENSURE THAT EACH APARTMENT CAN BE CONSIDERED PART OF A "GREEN" FACILITY. THE ORGANIZATION HAS MADE GREAT EFFORTS TO ENSURE THAT THEIR FACILITIES ARE CONSIDERED ENVIORNMENTALLY FRIENDLY. 1036445 943130 ASSISTED LIVING SERVICES:THE ORGANIZATION PROVIDES ASSISTED LIVING SERVICES FOR SENIORS WHO NEED ADDITIONAL ASSISTANCE FOR ACTIVITIES OF DAILY LIVING. THESE SERVICES ALLOW RESIDENTS TO MAINTAIN THEIR INDEPENDENCE FOR AS LONG AS POSSIBLE. SERVICES CAN INCLUDE PERSONAL CARE AND/OR SUPERVISORY CARE INCLUDING MEDICATION ADMINISTRATION. 584310 638812 FOOD SERVICES:THE ORGANIZATION PROVIDES FOOD SERVICE TO OVER 500 SENIORS LIVING AT GLENCROFT ENSURING RESIDENTS RECEIVE HEALTHY AND NUTRITIOUS MEALS AND THE CHANCE TO SOCIALIZE WITH OTHER RESIDENTS. 2507623 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 6 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 1 1 1 1 0 0 1 1 1 1 1 0 0 0 0 AZ X BEN JARMUL 6238473005 8611 N 67TH AVE GLENDALE AZ 85302 STEVEN N BASS DIRECTOR 0.20 0.60 X 0 0 0 RICK DANFORD DIRECTOR 0.50 1.50 X 0 0 0 VICKI DAVIS DIRECTOR 0.20 0.60 X 0 0 0 HAROLD LOEWEN TREASURER 0.50 1.50 X X 0 0 0 JAMES BATDORF PAST DIRECTOR 0.20 0.60 X 0 0 0 ARTURO MONTOYA DIRECTOR 0.20 0.60 X 0 0 0 JOHN A SMITH SECRETARY 0.20 0.60 X X 0 0 0 MARY F TEMM CHAIR 0.50 1.50 X X 0 0 0 DENISE M WASSENAAR VICE CHAIR 0.50 1.50 X X 0 0 0 ERIC HAYES DIRECTOR 0.20 0.60 X 0 0 0 TISHA DIFFIE DIRECTOR 0.20 0.80 X 0 0 0 ROBERT MONTGOMERY PAST DIRECTOR 0.20 0.80 X 0 0 0 JOHN N WENZLAU PRESIDENT & CEO 5.00 35.00 X 0 233603 1301 DAVID M SPIEGEL CFO 5.00 35.00 X 0 127202 8534 SUSAN M HORNBOSTEL COO 5.00 35.00 X 0 206030 7895 MIKE MCCAMMOND CIO 5.00 35.00 X 0 103283 13136 RICHARD YOUNG COO 5.00 35.00 X 0 27993 4 HEIDI HOKANSON VP OF HUMAN RESOURCES 1.00 39.00 X 0 126967 7223 MELISSA WATKINS CHS 1.00 39.00 X 0 122036 6239 LESLIE SMITH VP OF DEVELOPMENT 1.00 39.00 X 0 112615 516 RONALD HARROLD VP OF SPECIAL PROJECTS 1.00 39.00 X 0 115801 24 0 1175530 44872 0 0 1 0 MTV GENERAL CONTRACTORS INC 2840 N NORWALK ST MESA AZ 85215 CONSTRUCTION 501605 US FOODS PO BOX 52531 PHOENIX AZ 85072 FOOD SERVICE 145688 2 ELDERLY/CONGREGATE SVS 623990 1337680 1337680 RENTAL INCOME 623990 1066779 1066779 TENANT CHARGES 623990 38471 38471 2442930 546 546 2443476 2442930 0 546 X 599446 483315 116131 440 440 106253 85669 20584 45244 36479 8765 59088 59088 10384 10384 15400 15400 625787 622033 3754 30628 26955 3673 151725 151725 630 630 1950 1950 189105 189105 364015 364015 36559 36559 FOOD (PROGRAM) 211047 211047 REFINANCING EXPENSES 171409 171409 SUPPLIES 52390 52390 EQUIP RENTAL / MAINTENA 45887 45887 32963 30595 2368 2750350 2507623 242727 0 X 121617 16644 1567050 1306445 27752 45686 17676 23003 37666 4612 10404838 5369184 4479415 5035654 139814 0 6390990 6432044 229359 231353 3287542 30179 30453 3112534 0 170652 3372072 3720000 X 3018918 2712044 3018918 2712044 6390990 6432044 -306874 0 X X 0 1 X 1 1 1 X 3121 14148 6250 23519 2894744 2874766 3145099 3544497 2442930 14902036 2897865 2888914 3151349 3544497 2442930 14925555 0 0 0 14925555 1651 1270 1366 884 546 5717 1651 1270 1366 884 546 5717 9616 2145 11761 2899516 2890184 3162331 3547526 2443476 14943033 0.99880 0.98940 0.00040 0.00040 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: INSURANCE RECOVERIES - GARAGE / PARKING - 2014 AMOUNT: $ 4,198. LANNDRY REVENUE - 2014 AMOUNT: $ 3,835. MAINTENANCE INCOME - 2014 AMOUNT: $ 733. MISCELLANEOUS INCOME - 2014 AMOUNT: $ 850. 2015 AMOUNT: $ 2,145. 0 1 X 99956 99956 8569456 4897570 3671886 840577 471614 368963 894849 894849 5035654 DUE TO/FROM AFFILIATES 170652 170652 2443476 0 2443476 0 2443476 2750350 0 2750350 0 2750350 PART IV, LINE 2B: THE ORGANIZATION MAINTAINS ESCROW ACCOUNTS FOR RESIDENT SECURITY DEPOSITS. 1 0 0 0 0 0 0 0 0 JOHN N WENZLAU PRESIDENT & CEO 0 208726 0 0 0 24877 0 0 0 1301 0 234904 0 0 SUSAN M HORNBOSTEL COO 0 104706 0 0 0 101324 0 0 0 7895 0 213925 0 0 PART I, LINE 4A SUSAN HORNBOSTEL - $43,930 + 100% OF COBRA INSURANCE PREMIUMS THROUGH 12/31/17. FORM 990, PART VI, SECTION A, LINE 3 FRIENDSHIP RETIREMENT CORPORATION SERVES AS THE ORGANIZATION'S SPONSOR AND PROVIDES MANAGEMENT SERVICES. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS NOMINATES NEW BOARD MEMBERS WHO MUST BE APPROVED BY FRIENDSHIP RETIREMENT CORPORATION (FRC). FRC ALSO APPOINTS THE CEO. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES TO THE ORGANIZATIONAL BY-LAWS OF GLENCROFT TOWERS INC ARE ALSO SUBJECT TO THE APPROVAL OF FRC AND THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS REVIEWED BY THE CEO, CFO, AND FINANCE COMMITTEE. THE FINAL DRAFT OF THE 990 IS SENT ELECTRONICALLY OR MAILED 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, THAT PERSON IS RECUSED AND MAY BE ASKED TO LEAVE THE ROOM DURING THE DELIBERATIONS OF THE ISSUE. IT IS NOTED IN THE MINUTES WHEN A BOARD MEMBER HAS A CONFLICT AND HAS ABSTAINED FROM VOTING. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS MADE AVAILABLE TO THE PUBLIC UPON REQUEST FORM 990, PART IX, LINE 11G OTHER FEES FOR SERVICE: PROGRAM SERVICE EXPENSES 622,033. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 622,033. CONSULTING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,754. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,754. FORM 990, PART X, LINE 20 THE PARENT COMPANY, FRIENDSHIP RETIREMENT CORPORATION, HAS ALLOCATED A PORTION OF THE TAX EXEMPT BONDS THAT WERE ISSUED TO THE PARENT COMPANY DURING 2016. THE DETAILS OF THE TAX EXEMPT BONDS ISSUED TO FRIENDSHIP RETIREMENT CORPORATION ARE CONTAINED ON THE SCHEDULE K THAT IS FILED WITH THE FORM 990 OF THE PARENT COMPANY (FEIN 86-0265218). THERE IS NO SCHEDULE K FOR THIS TAX RETURN. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FRIENDSHIP RETIREMENT CORPORATION 8611 N 67TH AVE GLENDALE AZ 85302 860265218 SENIOR HOUSING AZ 501(C)(3) LINE 10 N/A 0 COLTER COMMONS INC 8611 N 67TH AVE GLENDALE AZ 85302 364662674 LOW-INCOME HOUSING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 0 SARAH'S PLACE INC 8611 N 67TH AVE GLENDALE AZ 85302 364654886 ASSISTED LIVING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 0 FRIENDSHIP FOUNDATION INC 8611 N 67TH AVE GLENDALE AZ 85302 860501985 FUNDRAISING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0