Glencroft Center for Modern Aging
Legal name: Friendship Retirement Corporation
Nonprofit profile at a glance
- EIN
- 860265218
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Glendale, Arizona, US
- Phone
- +1 623-939-9475
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Supportive Housing for Older Adults
Reported finances
- Revenue
- $29,418,114
- Expenses
- $29,326,290
- Assets
- $24,257,078
- Liabilities
- $14,093,630
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- JOHN THORHAUER (CEO)
- MARY BAKER (EXECUTIVE DIRECTOR FOUNDATION)
Highest reported compensation
- JOHN THORHAUER (CEO): $374,857 total reported compensation
- SCOTT MCCLINTOCK (CHIEF HEALTH OFFICER): $196,987 total reported compensation
- MICHAEL A MCCAMMOND (CAO): $190,605 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Retire with Purpose and Support
What it reported doing in 2024
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.
Operating model
- Revenue model
- Earned-program. 92% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 83
- Accountability: 95
- Sustainability: 34
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 83%; rating input score 83
- Program expense ratio: 83.9%; rating input score 84
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.3%; rating input score 34; 34th percentile among comparable filings
- Total-asset coverage ratio: 0.83; rating input score 29; 29th percentile among comparable filings
- Liabilities to assets ratio: 0.58; rating input score 23; 23rd percentile among comparable filings
- Officer compensation ratio: 4.2%; rating input score 58; 58th percentile among comparable filings
Growth
- Program expense growth: 3.4% per year; rating input score 100; 29th percentile among comparable filings
- Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
- Asset growth: -0.9% per year; rating input score 0; 8th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 83% of revenue deployed · 83.9% of spending went to programs
- Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $24.6M in reported program spending
- Leadership: top reported pay $375K · 16 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1M reported
- Consistency: 32 of 32 current checks pass
- Schedules: 6 filed schedules · includes executive pay and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- Related organizations: 4 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 34/100.
- High — Sustainability: Total-asset coverage ratio scored 29/100.
- High — Growth: Asset growth scored 0/100.
- Review — Accountability: Governance controls: Audit committee oversight not reported.
- High — Sustainability: Liabilities to assets ratio scored 23/100.
- Review — Sustainability: Officer compensation ratio scored 58/100.