Friendship Retirement Corporation
Also known as Glencroft Center for Modern Aging
Friendship Retirement Corporation reported $29.4 million in revenue and $29.3 million in expenses for calendar year 2024. Of every $100 it spent, $83.92 went to program services, $16.08 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 91.5% of the total. The highest compensation it reported for one person was $374,857 (CEO). 6 people received more than $100,000 in reportable compensation. Revenue rose 1% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $29MFor context, the median across 3,614 covered human services charities: $88.27 programs, $11.52 management, $0.21 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $29MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 83.9% | 87.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 16.1% | 11.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.8% | 20.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 2.4% |
| Program service revenue share Part VIII 2g ÷ 12 | 91.5% | 70.8% |
| Highest reported compensation Part VII-A, columns D–F | $374,857 | $274,992 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.28% | 1.18% |
| People paid over $100,000 Part VII, line 2 | 6 | 6 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 4.2 | 6.9 |
| Independent voting board members Part VI 1a–1b | 9 of 9 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseSkilled 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…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO Officer, 20.00 hrs/week | $369,325 | $0 | $5,532 | $374,857 |
| CHIEF HEALTH OFFICER Highest compensated employee, 40.00 hrs/week | $189,354 | $0 | $7,633 | $196,987 |
| CAO Highest compensated employee, 20.00 hrs/week | $178,715 | $0 | $11,890 | $190,605 |
| CHIEF PEOPLE OFFICER Highest compensated employee, 40.00 hrs/week | $177,989 | $0 | $10,002 | $187,991 |
| CFO (AS OF 01/2024) Officer, 36.00 hrs/week | $151,160 | $0 | $3,465 | $154,625 |
| EXECUTIVE DIRECTOR FOUNDATION Highest compensated employee, 20.00 hrs/week | $102,740 | $0 | $4,713 | $107,453 |
| CFO (THRU 01/2024) Officer, 36.00 hrs/week | $10,716 | $0 | $214 | $10,930 |
6 people received more than $100,000 in reportable compensation from Friendship Retirement Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $540K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b9 · 9 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5468
- Volunteers Part I, line 610
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| FOX CONSTRUCTION Construction services | $327,212 |
| BIG KAHUNA CONSTRUCTION Construction services | $169,421 |
| TDINDUSTRIES INC Construction services | $140,156 |
| PROSPERITY CONSTRUCTION SERVICES Construction services | $115,350 |
Individuals listed as contractors are left out.
Correct a figure or respond
Every number above is copied from Friendship Retirement Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Friendship Retirement Corporation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Friendship Retirement Corporation spent in 2024, $83.92 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Friendship Retirement Corporation's spending goes to programs?
In calendar year 2024, Friendship Retirement Corporation reported that 83.9% of its $29.3 million in expenses went to program services, 16.1% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Friendship Retirement Corporation pay its top executive?
The largest total compensation Friendship Retirement Corporation reported for one person in calendar year 2024 was $374,857, for the role of CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Friendship Retirement Corporation get its money?
Of $29.4 million in revenue in calendar year 2024, 0.8% came from contributions and grants and 91.5% from program service revenue (Form 990, Part VIII).
Is Friendship Retirement Corporation a registered charity?
The IRS lists EIN 86-0265218 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202513169349303921 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202413129349302686 · read the filing
- 2022: Form 990 for calendar year 2022, object 202312649349300636 · read the filing
- 2021: Form 990 for calendar year 2021, object 202233019349302203 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103149349303400 · read the filing
- 2019: Form 990 for calendar year 2019, object 202023149349302242 · read the filing
All filings for EIN 86-0265218: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.