2024-07-31T17:47:16-05:00 2023-12-31 941250261 LINDQUIST VON HUSEN & JOYCE LLP 301 HOWARD STREET SUITE 850 SAN FRANCISCO CA 94105 990 2023-01-01 364662674 COLTER COMMONS INC COLT 6238473005 8611 NORTH 67TH AVENUE GLENDALE AZ 85302 KATHLEEN HURLEY CFO 6238473005 2024-07-03 1 0 KYLE GANLEY P01443362 4159579999 2023 2024-08-08 14:25:15Z JOHN THORHAUER CEO 8611 NORTH 67TH AVENUE GLENDALE AZ 85302 407065 0 X WWW.GLENCROFT.COM X 2009 AZ THE MISSION OF COLTER COMMONS IS TO PROVIDE A BROAD CONTINUUM HIGH QUALITY HUD SUBSIDIZED HOUSING TO SENIORS IN A MANNER THAT DEMONSTRATES LOVE AND COMPASSION. 9 9 0 10 0 0 0 0 400793 401539 1467 5526 0 0 402260 407065 0 0 0 0 147006 139156 0 0 0 344788 371896 491794 511052 -89534 -103987 4196282 4050036 155015 112756 4041267 3937280 THE MISSION OF COLTER COMMONS IS TO PROVIDE A BROAD CONTINUUM HIGH QUALITY HUD SUBSIDIZED HOUSING TO SENIORS IN A MANNER THAT DEMONSTRATES LOVE AND COMPASSION. 0 0 485845 401539 COLTER COMMONS, INC. OWNS AND OPERATES A 45-UNIT AFFORDABLE HOUSING COMPLEX, OPERATING UNDER THE NAME COLTER COMMONS, LOCATED IN PHOENIX, ARIZONA FOR SENIORS WHO ARE AT LEAST 62 YEARS OF AGE, AND MEET THE LOW INCOME STANDARDS SET BY THE HOUSING AND URBAN DEVELOPMENT DEPARTMENT. 485845 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X X KATHLEEN HURLEY 6238473005 8611 NORTH 67TH AVENUE GLENDALE AZ 85302 CATHY ECKSTEIN CHAIR 5.00 20.00 X X 0 0 0 STEVE KOCH SECRETARY 5.00 20.00 X X 0 0 0 BRIAN HOLLRAH TREASURER 5.00 20.00 X X 0 0 0 NINA SHAH MD DIRECTOR 2.00 8.00 X 0 0 0 DR PETE PATTERSON DIRECTOR 2.00 8.00 X 0 0 0 DR JACQUELYN SMITH VICE CHAIR 5.00 20.00 X X 0 0 0 LISA MONTMAN CPA DIRECTOR 2.00 8.00 X 0 0 0 FLOYD WHITTAKER DIRECTOR 2.00 8.00 X 0 0 0 ASHLEY IVERSON DIRECTOR 2.00 8.00 X 0 0 0 DYAN BYMARK DIRECTOR 2.00 8.00 X 0 0 0 JOHN THORHAUER CEO 20.00 20.00 X 0 349201 4839 DON MAY CFO 8.00 32.00 X 0 161420 3228 0 510621 8067 0 0 1 0 0 HUD ASSISTANCE PAYMENT 531110 232968 232968 RENTAL INCOME 531110 166429 166429 LAUNDRY & VENDING 531110 1837 1837 OTHER INCOME 531110 305 305 401539 5526 5526 407065 401539 0 5526 124231 124231 5550 5550 9375 9375 25920 25920 28707 3500 25207 24380 24380 121183 121183 28334 28334 OPERATING & MAINT. 71757 71757 UTILITIES 64614 64614 MISC ADMIN EXPENSES 6504 6504 WORKERS COMPENSATION 497 497 511052 485845 25207 0 94160 183165 473657 354705 6187 6471 3360 7960 4901144 1403409 3618918 3497735 4196282 4050036 9773 14919 11312 11932 133930 85905 155015 112756 X 4041267 3937280 4041267 3937280 4196282 4050036 -103987 0 X X 0 1 X 1 1 1 X 387123 385033 390496 400793 401539 1964984 387123 385033 390496 400793 401539 1964984 0 0 0 1964984 383 294 1041 1467 5526 8711 383 294 1041 1467 5526 8711 1611 2138 3749 389117 387465 391537 402260 407065 1977444 0.99370 0.99500 0.00440 0.00180 X SCHEDULE A, PART III, LINE 12, EXPLANATION FOR OTHER INCOME: LAUNDRY REVENUE 2019 AMOUNT: $ 1,538. 2020 AMOUNT: $ 1,518. MAINTENANCE REVENUE 2019 AMOUNT: $ 25. 2020 AMOUNT: $ 10. MISCELLANEOUS REVENUE 2019 AMOUNT: $ 48. 2020 AMOUNT: $ 610. 0 1 X 362810 362810 4337527 1261948 3075579 200807 141461 59346 3497735 RELATED-PARTY PAYABLE 85905 85905 X 407065 0 407065 0 407065 511052 0 511052 0 511052 PART IV, LINE 2B: THE ORGANIZATION MAINTAINS ESCROW ACCOUNTS FOR RESIDENTS' SECURITY DEPOSITS. PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE RELATED ARIZONA CODE SECTIONS. THE CORPORATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE CORPORATION'S FEDERAL AND STATE INFORMATION RETURNS FOR THE YEARS 2019 THROUGH 2022 ARE SUBJECT TO EXAMINATION BY REGULATORY AGENCIES, GENERALLY FOR THREE YEARS AND FOUR YEARS AFTER THEY WERE FILED FOR FEDERAL AND STATE, RESPECTIVELY. 0 0 0 0 0 0 0 0 0 JOHN THORHAUER CEO 0 315001 0 34200 0 0 0 4839 0 0 0 354040 0 0 DON MAY CFO 0 161420 0 0 0 0 0 3228 0 0 0 164648 0 0 SCHEDULE J, PART I, LINE 3: FRIENDSHIP RETIREMENT CORPORATION, A RELATED ORGANIZATION USES A COMPENSATION SURVEY AND APPROVAL BY BORAD/COMPENSATION COMMITTEE TO DETERMINE THE CEO'S COMPENSATION. FORM 990, PART V, LINES 1 AND 2: ALL PAYROLL REPORTING IS MANAGED BY FRIENDSHIP RETIREMENT CORPORATION, WHICH ACTS AS THE COMMON PAYMASTER FOR THE FILING ENTITY. AS SUCH, THERE ARE NO W-2S OR 1099S REPORTED ON THIS RETURN. FORM 990, PART VI, SECTION A, LINE 3 FRIENDSHIP RETIREMENT CORPORATION SERVES AS THE ORGANIZATION'S SPONSOR AND PROVIDES MANAGEMENT SERVICES. FORM 990, PART VI, SECTION A, LINE 6 FRIENDSHIP RETIREMENT CORPORATION HAS THE RIGHT TO PARTICIPATE IN THE ORGANIZATION'S GOVERNANCE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS NOMINATES NEW BOARD MEMBERS WHO MUST BE APPROVED BY FRIENDSHIP RETIREMENT CORPORATION (FRC). FRC ALSO APPOINTS THE CEO. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES TO THE ORGANIZATIONAL BY-LAWS OF COLTER COMMONS, INC. ARE ALSO SUBJECT TO THE APPROVAL OF FRC AND THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS REVIEWED BY THE CFO AND THE FINAL DRAFT OF THE 990 IS EMAILED TO ALL BOARD MEMBERS PRIOR TO BEING FILED WITH THE IRS. BOARD MEMBERS HAVE A COMMENT PERIOD IN WHICH TO RESPOND WITH QUESTIONS OR CHANGES PRIOR TO SUBMITTING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE COVERED UNDER THE CONFLICT OF INTEREST POLICY. THE BOARD CHAIR AND THE CEO DETERMINE IF THERE IS A CONFLICT OF INTEREST BASED ON CONFLICT OF INTEREST POLICY QUESTIONNAIRES GIVEN TO EACH BOARD MEMBER AT THE START OF THE BOARD YEAR. WHEN A CONFLICT ARISES, THAT PERSON IS RECUSED AND MAY BE ASKED TO LEAVE THE ROOM. DURING THE DELIBERATIONS OF THE ISSUE IT IS NOTED IN THE MINUTES WHEN A BOARD MEMBER HAS A CONFLICT AND HAS ABSTAINED FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15A AN ANALYSIS OF COMPARABLE FACILITIES WAS COMPLETED. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FRIENDSHIP RETIREMENT CORPORATION 8611 N 67TH AVE GLENDALE AZ 85302 860265218 SENIOR HOUSING AZ 501(C)(3) LINE 10 N/A 0 GLENCROFT TOWERS I INC 8611 N 67TH AVE GLENDALE AZ 85302 860861606 LOW-INCOME HOUSING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 0 SARAH'S PLACE INC 8611 N 67TH AVE GLENDALE AZ 85302 364654886 ASSISTED LIVING AZ 501(C)(3) LINE 10 FRIENDSHIP RETIREMENT CORPORATION 0 FRIENDSHIP FOUNDATION INC 8611 N 67TH AVE GLENDALE AZ 85302 860501985 FUNDRAISING AZ 501(C)(3) LINE 7 FRIENDSHIP RETIREMENT CORPORATION 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0