2026-01-14T09:04:10-06:00 2025-02-28 410746749 CLIFTONLARSONALLEN LLP 475 REGENCY PARK SUITE 175 OFALLON IL 62269 990 2024-03-01 860410807 PEOPLE OF FAITH INC PEOP 6239332807 10015 WEST ROYAL OAK ROAD SUN CITY AZ 85351 A CARTER SMITHERMAN CFO 6239332807 2026-01-13 1 1 JEFF PARKER P00970069 6182331200 2026-01-13 2024 2025-03-06 01:10:19Z ROYAL OAKS GRETCHEN COBB 10015 WEST ROYAL OAK ROAD SUN CITY AZ 85351 52173749 0 X WWW.ROYALOAKS.COM X 1983 AZ PROVIDE HOUSING THAT PROMOTES COMFORT, SECURITY, INDEPENDENCE & LIFE SATISFACTION FOR RESIDENTS. 14 14 507 300 0 0 691450 2887608 34381388 39673846 4076981 9025382 69080 144110 39218899 51730946 46000 55900 0 0 20881849 21630238 0 0 0 24491879 32794631 45419728 54480769 -6200829 -2749823 300609719 288218820 247498326 237063622 53111393 51155198 TO PROVIDE THE HOUSING AND AMENITIES THAT PROMOTE A HIGH DEGREE OF COMFORT, SECURITY, INDEPENDENCE AND LIFE SATISFACTION FOR OUR RESIDENTS AND FUTURE RESIDENTS. 0 0 44969915 55900 39673846 DURING THE FISCAL YEAR ENDED FEBRUARY 28, 2025, ROYAL OAKS PROVIDED LIFE CARE SERVICES TO APPROXIMATELY 723 RESIDENTS ON A 52-ACRE CAMPUS CONSISTING OF 502 RESIDENTIAL HOMES AND APARTMENTS, 59 ASSISTED LIVING HOMES, A 56-UNIT MEMORY CARE FACILITY, AND A 60-BED HIGH ACUITY ASSISTED LIVING CENTER. 44969915 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 129 0 507 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 1 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X A CARTER SMITHERMAN 6239332807 10015 WEST ROYAL OAK ROAD SUN CITY AZ 85351 LOUIS JOHNSON CHAIR & TRUSTEE 1.00 1.00 X X 0 0 0 CLAUDIA RUMWELL VICE CHAIR & TRUSTEE 1.00 1.00 X X 0 0 0 JANIS RYAN TREASURER & TRUSTEE 1.00 0.00 X X 0 0 0 MARY BETH JOUBLANC SECRETARY & TRUSTEE (UNTIL 5/2024) 1.00 0.00 X X 0 0 0 ANDREW LENICK SECRETARY & TRUSTEE 1.00 1.00 X X 0 0 0 BILL GASTA TRUSTEE 1.00 0.00 X 0 0 0 ELLEN DEAN TRUSTEE (UNTIL 5/2024) 1.00 0.00 X 0 0 0 JOHN WALTER TRUSTEE 1.00 0.00 X 0 0 0 RAMONA PANICCI TRUSTEE 1.00 0.00 X 0 0 0 REV GARY BENSON TRUSTEE 1.00 0.00 X 0 0 0 ROGER MCCLAIN TRUSTEE 1.00 1.00 X 0 0 0 TERESA HAIRE TRUSTEE 1.00 0.00 X 0 0 0 TUCKER MACON TRUSTEE 1.00 1.00 X 0 0 0 WILL RICHARD TRUSTEE 1.00 0.00 X 0 0 0 DAN BRUSNAHAN TRUSTEE (BEGAN 5/2024) 1.00 0.00 X 0 0 0 DR EUGENE STEVENS TRUSTEE 1.00 0.00 X 0 0 0 KENDRA EBERHART PRESIDENT & CEO 39.00 1.00 X 632506 0 85373 GRETCHEN COBB COO 39.00 1.00 X 420169 0 40082 A CARTER SMITHERMAN CFO 39.00 1.00 X 393278 0 69877 DINA JO CAPEK DIRECTOR OF HEALTH SERVICE 40.00 1.00 X 224466 0 33206 DARIN YOUNG FACILITIES DIRECTOR 40.00 0.00 X 146115 0 19789 KARI DICKSON RELATIONS DIRECTOR 40.00 0.00 X 161684 0 21675 SUSAN CAREY ALTGILBERS IT DIRECTOR 40.00 0.00 X 156080 0 16231 2134298 0 286233 7 0 1 0 MORRISON MANAGEMENT SPECIALIST INC 9449 IMPERIAL HWY DOWNEY CA 90242 MANAGEMENT CONSULTING 4358800 GCON INC 1606 W WHISPERING WIND DR PHOENIX AZ 85085 DINING ROOM REMODEL 4060084 SUNDT CONSTRUCTION INC 2620 S 55TH ST TEMPE AZ 85282 INDUSTRIAL AND BUILDING SERVICES 2390062 RRS CONSTRUCTION LLC 11124 W CALIFORNIA AVE STE F YOUNGTOWN AZ 85363 REMODELING 1959518 AVCOMM TECHNOLOGY SOLUTIONS LLC 11 E BELL RD 110 PHOENIX AZ 85022 TECHNOLOGY SERVICES 643704 37 710193 2177415 2887608 RESIDENT REVENUES 623000 29773199 29773199 ENTRANCE FEES 623000 9161601 9161601 MEALS 721000 427236 427236 RESIDENT AMENITIES 900099 311810 311810 39673846 2197708 2197708 38397 0 38397 38397 38397 7236223 408549 6827674 6827674 6827674 43274 34254 9020 9020 MISCELLANEOUS INCOME 900099 96693 96693 96693 51730946 39673846 0 9169492 55900 55900 17861104 15901251 1959853 472221 427420 44801 1831876 1550010 281866 1465037 1326046 138991 59186 59186 62353 62353 277413 277413 4345203 2462517 1882686 1090896 381018 709878 354326 126879 227447 101403 18133 83270 2768343 2573315 195028 182668 140125 42543 47864 17088 30776 5860326 5748553 111773 11807900 9743395 2064505 722059 722059 FOOD 2824297 2637914 186383 PROPERTY AND EQUIPMENT 1883434 1549268 334166 DUES & SUBSCRIPTIONS 140763 92153 48610 RESIDENT EVENTS & ACTIV 119281 105127 14154 146916 113803 33113 54480769 44969915 9510854 0 3117922 2673295 31179590 21049636 1112510 2878744 408919 374625 959446 854475 295673796 98637074 199051621 197036722 63472669 62076036 1307042 1275287 300609719 288218820 11270923 6591142 75341466 84340442 144772922 128418004 12683071 16364533 3429944 1349501 247498326 237063622 X 53111393 51155198 53111393 51155198 300609719 288218820 X -2749823 69496 724132 X X 0 1 X 1 0 X 1325134 595536 616249 691450 2887608 6115977 26699166 28340783 29942600 34381388 39673846 159037783 28024300 28936319 30558849 35072838 42561454 165153760 125049 154642 159761 259617 187071 886140 0 125049 154642 159761 259617 187071 886140 164267620 1331736 1340649 1449152 1852257 2236105 8209899 1331736 1340649 1449152 1852257 2236105 8209899 174618 118342 46206 48515 96693 484374 29530654 30395310 32054207 36973610 44894252 173848033 0.94490 0.94150 0.04720 0.04850 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2020 AMOUNT: $ 174,618. 2021 AMOUNT: $ 118,342. 2022 AMOUNT: $ 46,206. 2023 AMOUNT: $ 48,515. 2024 AMOUNT: $ 96,693. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 9464970 9464970 245783805 85482987 160300818 15929792 15929792 21771283 13154087 8617196 2723946 2723946 197036722 LEASE PAYABLES 232253 DUE TO FOUNDATION 1117248 1349501 51523029 69496 69496 51453533 277413 277413 51730946 54203356 0 54203356 277413 277413 54480769 PART IV, LINE 2B: APPLICATION FEES CONSIST OF DEPOSITS BY INDIVIDUALS WHO HAVE BEEN PLACED ON A PRIORITY LIST FOR A RESIDENT UNIT AND ARE FULLY REFUNDABLE. CUSTOMER DEPOSITS CONSIST OF A ONE MONTH DEPOSIT FOR RESIDENTS THAT ARE ADMITTED TO ASSISTED LIVING WITHOUT A LIFE CARE CONTRACT. THE DEPOSIT IS FULLY REFUNDED BY MOVE OUT OR DEATH OF THE RESIDENT. A MINIMUM DEPOSIT OF 10% OF THE TOTAL ENTRANCE FEE IS REQUIRED BEFORE AN INDEPENDENT UNIT IS CONSIDERED RESERVED. PRIOR TO OCCUPANCY, APPLICANTS WHO SIGN LIFE CARE CONTRACTS MAY, UPON CANCELLATION WITHIN A RESCISSION PERIOD, CANCEL THEIR CONTRACT AND RECEIVE A REFUND OF THEIR DEPOSIT. IF AN APPLICANT DIES OR BECOMES DISABLED PRIOR TO OCCUPYING THE UNIT, OR IF A PROSPECTIVE RESIDENT'S APPLICATION IS DENIED, ALL FUNDS DEPOSITED WILL BE REFUNDED. 1 SUN CITY COMMUNITY ASSISTANCE NETWORK 10195 W COGGINS DR SUN CITY AZ 85351 205690700 501(C)(3) 10000 0 GENERAL SUPPORT THE SUN CITY POSSE INC PO BOX 2229 SUN CITY AZ 85372 510178773 501(C)(3) 15000 0 GENERAL SUPPORT SUN CITY FIRE DEPARTMENT 18602 N 99TH AVE SUN CITY AZ 85373 GOVERNMENTAL 30000 0 GENERAL SUPPORT 3 0 X X X X 1 1 0 0 0 0 0 0 0 KENDRA EBERHART PRESIDENT & CEO 341686 0 117206 0 173614 0 79651 0 5722 0 717879 0 0 0 A CARTER SMITHERMAN CFO 205356 0 38286 0 149636 0 54665 0 15212 0 463155 0 0 0 GRETCHEN COBB COO 246436 0 45413 0 128320 0 40082 0 0 0 460251 0 0 0 DINA JO CAPEK DIRECTOR OF HEALTH SERVICE 175324 0 23684 0 25458 0 19034 0 14172 0 257672 0 0 0 KARI DICKSON RELATIONS DIRECTOR 129387 0 17492 0 14805 0 7883 0 13792 0 183359 0 0 0 SUSAN CAREY ALTGILBERS IT DIRECTOR 126309 0 16271 0 13500 0 13369 0 2862 0 172311 0 0 0 DARIN YOUNG FACILITIES DIRECTOR 119263 0 16448 0 10404 0 5617 0 14172 0 165904 0 0 0 PART I, LINES 4A-B THE PRESIDENT & CEO, COO AND CFO PARTICIPATED IN A 457(F) PLAN DURING THE YEAR. THE PLAN PROVIDES THE PARTICIPANT WITH SUPPLEMENTAL DEFERRED COMPENSATION, SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE, TO ENCOURAGE CONTINUED EMPLOYMENT FOR A SIGNIFICANT PERIOD OF TIME. IN 2024, $56,043 ACCRUED WITHIN THE PLAN FOR THE PRESIDENT & CEO; $40,108 ACCRUED WITHIN THE PLAN FOR THE COO; AND, $33,988 ACCRUED WITHIN THE PLAN FOR THE CFO. THESE AMOUNTS ARE INCLUDED IN PART II, COLUMN C AS OTHER DEFERRED COMPENSATION. A THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF GLENDALE ARIZONA 521767454 378287AP1 2016-08-03 39699349 CURRENT REFUNDING 0 0 0 B THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF GLENDALE ARIZONA 521767454 378287BA3 2020-12-16 145545207 NEW FACILITY CONSTRUCTION 0 0 0 A 8445000 39699349 795329 38904020 2016 1 0 1 1 B 145545207 5372217 2561585 109659988 2022 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF GLENDALE, DATE THE REBATE COMPUTATION WAS PERFORMED: 11/09/2021 FORM 990, PART VI, SECTION A, LINE 1A THE ORGANIZATION HAS AN EXECUTIVE COMMITTEE CONSISTING OF THE OFFICERS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS THE POWER TO ACT ON BEHALF OF THE BOARD BETWEEN MEETINGS OF THE BOARD. THE EXECUTIVE COMMITTEE ALSO ANNUALLY EVALUATES THE PERFORMANCE OF THE PRESIDENT & CEO. FORM 990, PART VI, SECTION A, LINE 3 ALL MANAGEMENT SERVICES ARE PROVIDED BY AVENTUR, INC. FORM 990, PART VI, SECTION A, LINE 4 DURING THE YEAR, THE ORGANIZATION AMENDED ITS ARTICLES OF INCORPORATION AND BYLAWS TO REFLECT SIGNIFICANT GOVERNANCE CHANGES. THE ARTICLES OF INCORPORATION WERE REVISED TO TRANSITION FROM A GENERAL MEMBERSHIP STRUCTURE TO A SINGLE-MEMBER STRUCTURE, DESIGNATING AVENTUR, INC. AS THE SOLE MEMBER. THE EXEMPT PURPOSE LANGUAGE WAS UPDATED AND CLARIFIED TO REFERENCE THE CURRENT INTERNAL REVENUE CODE AND TO SPECIFY THE ORGANIZATION'S FOCUS. THE BYLAWS WERE ALSO AMENDED TO ENSURE CONSISTENCY WITH THE REVISED ARTICLES AND ALIGN GOVERNANCE WITH THE NEW STRUCTURE. AVENTUR, INC. WAS FORMALLY ESTABLISHED AS THE SOLE MEMBER WITH RESERVED POWERS, INCLUDING APPROVAL OF MAJOR ACTIONS SUCH AS AMENDMENTS, MERGERS, ASSET SALES, DISSOLUTION, AND BUDGETS. AMENDMENTS TO THE BYLAWS NOW REQUIRE A TWO-THIRDS VOTE OF THE TRUSTEES AND APPROVAL BY THE MEMBER. THE BYLAWS PROVIDE FOR UP TO 14 TRUSTEES, ELECTED BY THE MEMBER, WHO ALSO DETERMINES THE NUMBER OF TRUSTEES AND FILLS VACANCIES. OFFICER ROLES WERE CLARIFIED, AND THE BYLAWS PERMIT ONE INDIVIDUAL TO HOLD MULTIPLE OFFICES, EXCEPT FOR THE POSITIONS OF CHAIRMAN AND SECRETARY. THE BOARD IS REQUIRED TO ADOPT A CONFLICT OF INTEREST POLICY GOVERNING TRANSACTIONS WITH INTERESTED PERSONS. INDEMNIFICATION PROVISIONS WERE EXPANDED TO REFERENCE ARIZONA STATUTES AND INCLUDE DETAILED PROCEDURES AND LIMITATIONS. FINALLY, THE BYLAWS SPECIFY THAT UPON DISSOLUTION, ASSETS WILL BE DISTRIBUTED IN ACCORDANCE WITH IRS REQUIREMENTS. FORM 990, PART VI, SECTION A, LINE 6 AVENTUR, INC. IS THE SOLE MEMBER OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A PURSUANT TO THE BYLAWS, AVENTUR, INC. HAS THE RIGHT TO ELECT THE TRUSTEES WHO SERVE AS THE ORGANIZATION'S GOVERNING BODY. THIS RIGHT IS EXERCISED BY THE BOARD OF DIRECTORS OF AVENTUR, INC. OR A DESIGNATED REPRESENTATIVE. FORM 990, PART VI, SECTION A, LINE 7B AVENTUR, INC., AS THE SOLE MEMBER, MUST APPROVE CERTAIN MAJOR GOVERNANCE DECISIONS OF PEOPLE OF FAITH, INC., INCLUDING AMENDMENTS TO THE ARTICLES OF INCORPORATION OR BYLAWS, MERGERS, DISSOLUTION, ADOPTION OF BUDGETS, AND ACTIONS OUTSIDE THE ORDINARY COURSE OF OPERATIONS. THESE RIGHTS ARE EXERCISED BY THE BOARD OF DIRECTORS OF AVENTUR, INC. OR A DESIGNATED REPRESENTATIVE. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 WAS REVIEWED BY THE CFO AND THE DRAFT WAS UPLOADED TO A SECURE BOARD PORTAL FOR REVIEW BY THE BOARD OF TRUSTEES. AT THE NEXT AVAILABLE BOARD MEETING SUBSEQUENT TO FILING, THE FORM 990 IS PRESENTED AND DISCUSSED. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD ANNUALLY REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY. COMMUNICATION WITH BOARD MEMBERS ENSURES THAT ALL CONFLICTS ARE DISCLOSED. IF A CONFLICT EXISTS, A BOARD MEMBER DISCLOSES SUCH CONFLICT, REFRAINS FROM VOTING, DOESN'T USE THEIR PERSONAL INFLUENCE ON THE MATTER, AND IS NOT COUNTED IN DETERMINING A QUORUM FOR THE MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION ENGAGES A THIRD-PARTY COMPENSATION CONSULTANT WITH SPECIALIZED EXPERIENCE AND KNOWLEDGE IN THE SENIOR LIVING AND HEALTH CARE INDUSTRIES TO REVIEW EXECUTIVE COMPENSATION. THE CONSULTANT UTILIZES MULTIPLE OBJECTIVE DATA SOURCES, INCLUDING INDUSTRY COMPENSATION STUDIES AND FORMS 990 FROM COMPARABLE ORGANIZATIONS, AND PREPARES A COMPREHENSIVE COMPENSATION REPORT FOR REVIEW BY THE BOARD OF TRUSTEES. CEO, CFO AND COO COMPENSATION IS REVIEWED ANNUALLY BY THE INDEPENDENT COMPENSATION CONSULTANT AND PRESENTED TO THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES WILL APPROVE COMPENSATION ADJUSTMENTS FOR THE CEO AND THE CEO WILL APPROVE COMPENSATION ADJUSTMENTS FOR THE CFO AND COO. THE REVIEW PROCESS AND SUPPORTING DOCUMENTATION ARE MAINTAINED IN THE ORGANIZATION'S RECORDS. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS REVIEWED ANNUALLY BY THE CEO IN COLLABORATION WITH THE COMPENSATION CONSULTANT AND CFO. THIS REVIEW IS INFORMED BY MULTIPLE DATA SOURCES, INCLUDING INDEPENDENT COMPENSATION STUDIES AND MARKET BENCHMARKS, AND SUPPORTING DOCUMENTATION ARE MAINTAINED IN THE ORGANIZATION'S RECORDS. THE MOST RECENT COMPENSATION REVIEWS OCCURRED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: INTERCOMPANY TRANSFERS 922,958. TRANSFER TO AVENTUR -198,826. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 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