Friendship Foundation Inc
Nonprofit profile at a glance
- EIN
- 860501985
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Glendale, AZ, USA
- Phone
- 6238473005
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $508,953
- Expenses
- $365,256
- Assets
- $6,856,838
- Liabilities
- $12,031
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- JOHN THORHAUER (CEO)
Highest reported compensation
- JOHN THORHAUER (CEO): $374,857 total reported compensation
- KATHLEEN HURLEY (CFO (AS OF 01/2024)): $154,625 total reported compensation
- DON MAY (CFO (THRU 01/2024)): $10,930 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The foundation provides direct financial assistance to residents and offers transportation for community and medical appointments. It supports programs and services benefiting more than 720 seniors. In addition, the foundation raises funds to enhance glencroft's community programs and capital projects. The foundation also assists employees of friendship retirement corporation with financial assistance and scholarship support.
What it reported doing in 2024
Glencroft currently serves more than 720 senior residents through independent living, assisted living, memory care, and skilled nursing programs. Services include wellness programs, rehabilitative therapies, social and educational activities, transportation, pastoral care, and access to on-site health and dining facilities. During the most recent reporting year, glencroft provided direct care services, hosted resident programs, and delivered meals to ensure the health and well-being of residents. Friendship foundation's purpose is to sustain and expand program offerings that address physical health, social engagement, and supportive care for seniors with limited financial resources; to ensure equitable access to services for all residents, regardless of income level; and to maintain program staff, equipment, and facilities necessary to deliver high-quality services across the continuum of care.use of support includes:-direct funding of resident programs and wellness initiatives.-subsidies for residents requiring financial assistance to access housing and care.-program staffing, training, and resources to support specialized services such as memory care and rehabilitative therapies.funding enables friendship retirement corporation, dba glencroft, to continue delivering vital housing and supportive programs for over 720 older adults, safeguarding their quality of life and reinforcing glencroft's role as a cornerstone of senior care in the community. Friendship foundation also manages an employee driven fund to assist employees of friendship retirement corporation with financial assistance to meet emergency needs and provides scholarship support.
Operating model
- Revenue model
- Donor-supported. 68% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 62
- Transparency & Controls: 71
- Accountability: 100
- Sustainability: 83
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 68%; rating input score 68
- Program expense ratio: 74%; rating input score 74
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 28.2%; rating input score 83; 83rd percentile among comparable filings
- Total-asset coverage ratio: 18.77; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 78; 78th percentile among comparable filings
- Officer compensation ratio: 2.5%; rating input score 58; 58th percentile among comparable filings
Growth
- Program expense growth: -2% per year; rating input score 0; 12th percentile among comparable filings
- Revenue growth: 3.8% per year; rating input score 100; 36th percentile among comparable filings
- Asset growth: 7.2% per year; rating input score 100; 48th percentile among comparable filings
Details
- Where the money goes: 68% of revenue deployed · 74% of spending went to programs
- Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $270K in reported program spending
- Leadership: top reported pay $375K · 12 people listed · 0 of 6 pay-setting controls reported
- Consistency: 28 of 28 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 5 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 58/100.