Glencroft Towers I Inc
Nonprofit profile at a glance
- EIN
- 860861606
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Glendale, AZ, USA
- Phone
- 6238473005
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $3,987,766
- Expenses
- $4,218,980
- Assets
- $4,440,428
- Liabilities
- $5,414,996
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- JOHN THORHAUER (CEO)
Highest reported compensation
- JOHN THORHAUER (CEO): $374,857 total reported compensation
- KATHLEEN HURLEY (CFO - START 01/2024): $154,625 total reported compensation
- DON MAY (CFO - LEFT 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 mission of glencroft towers i is to provide a broad continuum high quality hud subsidized housing to seniors in a manner that demonstrates love and compassion.
What it reported doing in 2024
Independent living services -the organization owns and operates a 103-unit affordable housing apartment complex in glendale, Arizona operating under the name glencroft towers. Glencroft towers provides independent living to persons who are 62 years of age and meet the very low income standards set by the housing and urban development department. The apartments have been remodeled to provide assisted living services and 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 environmentally friendly.assisted living services -the organization provides assisted living services for seniors who needadditional assistance for activities of daily living. These servicesallow residents to maintain their independence for as long as possible.services can include personal care and/or supervisory care, includingmedication administration.food services -the organization provides food service to over 500 seniors living atglencroft, ensuring residents receive healthy and nutrltious meals andthe chance to socialize with other residents.
Operating model
- Revenue model
- Earned-program. 94% 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
STRONG - 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 65
- Accountability: 95
- Sustainability: 30
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 99.4%; rating input score 99
- 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: Limited
- 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: 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: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -5.8%; rating input score 19; 19th percentile among comparable filings
- Total-asset coverage ratio: 1.05; rating input score 39; 39th percentile among comparable filings
- Liabilities to assets ratio: 1.22; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 0.2%; rating input score 82; 82nd percentile among comparable filings
Growth
- Program expense growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
- Revenue growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings
- Asset growth: -3.1% per year; rating input score 0; 6th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 99.4% of spending went to programs
- Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $4.2M in reported program spending
- Leadership: top reported pay $375K · 13 people listed · 0 of 6 pay-setting controls reported
- Consistency: 27 of 27 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 19/100.
- High — Growth: Asset growth scored 0/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
- High — Sustainability: Liabilities to assets ratio scored 3/100.