2026-09-09T22:48:04-05:00 2025-12-31 333709623 COHNREZNICK ADVISORY LLC 1 SOUTH WACKER DRIVE SUITE 3550 CHICAGO IL 60606 990 2025-01-01 364209258 GREENCASTLE OF STERLING INC C/O EMBRACE LIVING COMMUNITIES GREE 6305218021 1900 SPRING RD STE 450 OAK BROOK IL 60523 WAYNE FOLEY CEO 6305218021 2026-09-01 1 KAREN A SCHAEFER P00545171 3125085900 2026-09-01 2025 WAYNE FOLEY 1900 SPRING RD STE 450 OAK BROOK IL 60523 491541 0 X WWW.EMBRACELIVING.ORG X 1998 IL TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING. 6 5 0 25 0 0 0 0 449783 479051 146 1613 6296 10877 456225 491541 0 0 0 0 193446 0 0 0 0 307991 565893 501437 565893 -45212 -74352 1431806 1355630 32605 30781 1399201 1324849 TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE, WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING. 0 0 519214 489928 GREENCASTLE OF STERLING, INC WAS ORGANIZED ON MARCH 3, 1998, AS A NONPROFIT CORPORATION, UNDER THE LAWS OF THE STATE OF ILLINOIS, FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT FOR LOW-INCOME ELDERLY PERSONS AS DEFINED BY THE NATIONAL HOUSING ACT OF 1959. SUCH PROJECTS ARE REGULATED BY U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENT CHANGES AND OPERATING METHODS. THE CORPORATION CONSISTS OF 32 UNITS LOCATED IN STERLING, ILLINOIS. 519214 1 0 0 0 0 0 0 0 1 0 1 0 0 1 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 2 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X WAYNE FOLEY CO EMBRACE LIVING COMMUNITIES 6305218021 1900 SPRING ROAD SUITE 450 OAK BROOK IL 60523 SCOTT MEYER CHAIRMAN 0.20 X X 0 0 0 IRV WOODS DIRECTOR 0.20 X 0 0 0 J PAUL BERTSCHE DIRECTOR 0.20 X 0 0 0 KAREN LATIMER-HORSTHEMKE DIRECTOR 0.20 X 0 0 0 RUTH CARLSON DIRECTOR 0.20 X 0 0 0 RALPH GAINES PRESIDENT & CEO( FORMER SEPT 25) 0.20 39.80 X 0 363961 39801 WAYNE FOLEY CEO 0.20 39.80 X 0 23077 0 JENNIFER TRUPPA DIRECTOR OF SOCIAL SERVICE 0.20 39.80 X 0 123897 41292 DAWN ZENKNER VICE PRESIDENT OF FINANCE 0.20 39.80 X 0 122244 39051 ED HAVLOVIC DIRECTOR OF PLANT OPERATION 0.20 39.80 X 0 110884 28081 GARY ADAMS DIRECTOR OF OPERATIONS 0.20 39.80 X 0 149003 29732 ALINA SERBAN CHIEF OF STAFF 0.20 39.80 X 0 104929 39104 0 997995 217061 0 0 1 0 0 RENT REVENUE 531110 479051 479051 479051 1613 1613 TENANT CHARGES 531110 4811 4811 LAUNDRY & VENDING 531110 3894 3894 2172 2172 10877 491541 489928 0 1613 33480 33480 3000 3000 9956 9956 62 62 19233 19233 6356 3113 3243 78383 78383 435 435 4651 4651 65994 65994 SALARIES REIMBURSEMENT 198928 198928 REPAIRS AND MAINTENANCE 112504 112504 OTHER RENTING EXPENSES 15078 15078 BAD DEBT EXPENSE 9360 9360 8473 8473 565893 519214 46679 0 3208 10933 3304 16943 17763 2523141 1329407 1247636 1193734 160715 133200 1431806 1355630 16804 14658 10838 10336 4963 5787 32605 30781 X -823199 -897551 2222400 2222400 1399201 1324849 1431806 1355630 -74352 0 X 0 1 X 1 1 1 X 412057 422567 433401 449783 479051 2196859 412057 422567 433401 449783 479051 2196859 0 0 0 2196859 77 62 130 146 1613 2028 77 62 130 146 1613 2028 3078 1921 3001 6296 10877 25173 415212 424550 436532 456225 491541 2224060 0.98780 0.99180 0.00090 0.00040 X 0 1 X 129500 129500 2260722 1213063 1047659 124229 108814 15415 8690 7530 1160 1193734 TENANT DEPOSITS 10693 REPLACEMENT RESERVE 101902 RESERVE FOR INSURANCE 20605 133200 ACCRUED PAYROLL 5787 5787 X 491541 0 491541 0 491541 565893 0 565893 0 565893 PART IV, LINE 2B: THE TENANT SECURITY DEPOSIT LIABILITY ACCOUNT BALANCE WAS $10,838 IN 2024 AND $10,336 IN 2025 PART X, LINE 2: THE CORPORATION AS ALLOWED UNDER CURRENT STATE OF ILLINOIS STATUTES HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2025. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE ("IRS") AND OTHER TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2025, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2022 REMAIN OPEN. 0 0 0 0 0 0 0 0 0 RALPH GAINES PRESIDENT & CEO( FORMER SEPT 25) 0 363961 0 0 0 0 0 11996 0 27805 0 403762 0 0 GARY ADAMS DIRECTOR OF OPERATIONS 0 149003 0 0 0 0 0 5060 0 24672 0 178735 0 0 JENNIFER TRUPPA DIRECTOR OF SOCIAL SERVICE 0 123897 0 0 0 0 0 5089 0 36203 0 165189 0 0 DAWN ZENKNER VICE PRESIDENT OF FINANCE 0 122244 0 0 0 0 0 4024 0 35027 0 161295 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS OF EMBRACE LIVING COMMUNITIES AND AFFILIATES APPOINTS THE PRESIDENT & CEO AND THE CFO AND DETERMINES THEIR COMPENSATION. THE METHOD USED TO ESTABLISH THE COMPENSATION FOR THE PRESIDENT & CEO AND THE CFO, RECEIVED FROM RELATED ORGANIZATIONS, INCLUDE A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER SIMILAR ORGANIZATIONS. THE PROCESS INCLUDES A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY AND/OR STUDY AND APPROVAL BY THE COMPENSATION COMMITTEE AND THE BOARD. FORM 990, PART VI, SECTION A, LINE 3 THE CORPORATION HAS ENTERED INTO AN AGREEMENT WITH EMBRACE LIVING COMMUNITIES, A RELATED PARTY, IN CONNECTION WITH THE MANAGEMENT OF THE RENTAL OPERATIONS OF THE PROJECT. PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY HUD. THE MANAGEMENT AGREEMENT PROVIDES FOR A MANAGEMENT FEE EQUAL TO THE LESSER OF $90 PER UNIT PER MONTH OR 7.81% OF MONTHLY RENTAL COLLECTIONS. DURING THE YEAR ENDED DECEMBER 31, 2025, THE MANAGEMENT FEE INCURRED AND PAID WAS $33,480. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO ITS SUBMISSION, FORM 990 IS REVIEWED AND APPROVED BY THE FINANCE DEPARTMENT. IT IS THEN PRESENTED TO THE PRESIDENT AND THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE CORPORATION HAS A WRITTEN CONFLICT OF INTEREST POLICY. TO ENSURE COMPLIANCE WITH THIS POLICY, THE CORPORATION REQUIRES THE FOLLOWING: ON AN ANNUAL BASIS, ALL MEMBERS OF THE BOARD OF DIRECTORS, THE CEO, MEMBERS OF SENIOR MANAGEMENT AND EMPLOYEES WITH PURCHASING AND/OR HIRING RESPONSIBILITIES OR AUTHORITY SHALL INFORM, IN WRITING, THE CEO AND THE CHAIR OF THE FINANCE/AUDIT COMMITTEE, OF ALL REPORTABLE CONFLICTS. PRIOR TO THE PREPARATION OF THE DISCLOSURE STATEMENTS, THE FINANCE DEPARTMENT SHALL DISTRIBUTE A LIST OF ALL VENDORS WITH WHOM THE ORGANIZATION HAS TRANSACTED BUSINESS AT ANY TIME DURING THE PRECEDING YEAR, ALONG WITH A COPY OF THE DISCLOSURE STATEMENT. THE CEO SHALL REVIEW ALL FORMS COMPLETED BY EMPLOYEES, AND THE FINANCE/AUDIT COMMITTEE SHALL REVIEW ALL FORMS COMPLETED BY DIRECTORS AND THE CEO, AND DETERMINE APPROPRIATE RESOLUTION IN ACCORDANCE WITH THE NEXT SECTION OF THIS POLICY. IF A CONFLICT ARISES DURING THE YEAR, THE EMPLOYEE OR BOARD MEMBER WILL IMMEDIATELY NOTIFY THE CEO WHO WILL DETERMINE APPROPRIATE RESOLUTION. ALL REAL OR APPARENT CONFLICTS OF INTEREST SHALL BE DISCLOSED TO THE FINANCE/AUDIT COMMITTEE AND THE CEO OF THE ORGANIZATION. CONFLICTS SHALL BE RESOLVED AS FOLLOWS: THE FINANCE/AUDIT COMMITTEE SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING DIRECTORS, THE CEO AND OTHER MEMBERS OF SENIOR MANAGEMENT. THE CHAIR OF THE COMMITTEE SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING FINANCE/AUDIT COMMITTEE MEMBERS. THE CHAIR OF THE BOARD SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF THE CONFLICT INVOLVING THE CHAIR OF THE FINANCE/AUDIT COMMITTEE. THE CEO SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING EMPLOYEES BELOW THE SENIOR MANAGEMENT LEVEL, SUBJECT TO THE APPROVAL OF THE FINANCE/AUDIT COMMITTEE. AN EMPLOYEE OR DIRECTOR MAY APPEAL THE DECISION THAT A CONFLICT (OR APPEARANCE OF CONFLICT) EXISTS AS FOLLOWS: *AN APPEAL MUST BE DIRECTED TO THE CHAIR OF THE BOARD. *APPEALS MUST BE MADE WITHIN 30 DAYS OF THE INITIAL DETERMINATION. *RESOLUTION OF THE APPEAL SHALL BE MADE BY VOTE OF THE FULL BOARD OF DIRECTORS. *BOARD MEMBERS WHO ARE THE SUBJECT OF THE APPEAL, OR WHO HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE SUBJECT OF THE APPEAL, SHALL ABSTAIN FROM PARTICIPATING IN, DISCUSSING, OR VOTING ON THE RESOLUTION, UNLESS THEIR DISCUSSION IS REQUESTED BY THE REMAINING MEMBERS OF THE BOARD. FAILURE TO COMPLY WITH THE STANDARDS CONTAINED IN THIS POLICY WILL RESULT IN DISCIPLINARY ACTION THAT MAY INCLUDE TERMINATION, REFERRAL FOR CRIMINAL PROSECUTION, AND REIMBURSEMENT TO THE ORGANIZATION OR TO THE GOVERNMENT, FOR ANY LOSS OR DAMAGE RESULTING FROM THE VIOLATION. AS WITH ALL MATTERS INVOLVING DISCIPLINARY ACTION, PRINCIPLES OF FAIRNESS WILL APPLY. ANY EMPLOYEE CHARGED WITH A VIOLATION OF THIS POLICY WILL BE AFFORDED AN OPPORTUNITY TO EXPLAIN HER/HIS ACTIONS BEFORE DISCIPLINARY ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 ALL EMPLOYEES ARE CO-EMPLOYED BY A PEO (PROFESSIONAL EMPLOYMENT ORGANIZATION), GROUP MANAGEMENT SERVICES, INC. AND EMBRACE LIVING COMMUNITIES. ALL FORMS, INCLUDING W-2'S AND REPORTS, ARE ISSUED UNDER THE EIN OF GROUP MANAGEMENT SERVICES, INC. 34-1707723. THE REPORTING ORGANIZATION REIMBURSES EMBRACE LIVING COMMUNITIES FOR ALL EMPLOYEE COMPENSATION EXPENSES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS OF THE ORGANIZATION ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS OF THE ORGANIZATION ALSO CAN BE FOUND ON THE INTERNET IN WEBSITES FOR NOTFORPROFIT ORGANIZATIONS LIKE WWW.GUIDESTAR.COM. FORM 990, PART I, LINE 5 ALL EMPLOYEES ARE CO-EMPLOYED BY A PEO (PROFESSIONAL EMPLOYMENT ORGANIZATION), GROUP MANAGEMENT SERVICES, INC. AND EMBRACE LIVING COMMUNITIES. ALL FORMS, INCLUDING W-2'S AND REPORTS, ARE ISSUED UNDER THE EIN OF GROUP MANAGEMENT SERVICES, INC. 34-1707723. THE REPORTING ORGANIZATION REIMBURSES EMBRACE LIVING COMMUNITIES FOR ALL EMPLOYEE COMPENSATION EXPENSES. MANAGEMENT EMBRACE LIVING COMMUNITIES, A NOT-FOR-PROFIT CORPORATION, IS THE MANAGING AGENT AND RECEIVES MANAGEMENT FEES AS A PERCENTAGE OF THE GROSS RENTS, INCLUDING RENTAL SUBSIDIES AND OTHER INCOME UNDER TERMS OF A MANAGEMENT AGREEMENT APPROVED BY HUD. THE MANAGING AGENT IS RESPONSIBLE FOR THE DAY TO DAY ACTIVITIES OF THE ORGANIZATION SUCH AS MAINTAINING THE BUILDING, RESIDENT SUPPORT, HIRING AND SUPERVISING THE EMPLOYEES. IT ALSO PROVIDES ALL THE NECESSARY BOOKKEEPING AND ACCOUNTING SERVICES AND SUBMITS ALL THE REQUIRED FINANCIAL REPORTS. ALL DECISIONS AND REPORTS ARE PRESENTED AND DISCUSSED WITH THE BOARD OF DIRECTORS AND APPROVED BY THE BOARD OF DIRECTORS. IT ALSO PROVIDES ALL TEH NECESSARY BOOKKEEPING AND ACCOUNTING SERVICES AND SUBMITS ALL THE REQUIRED FINANCIAL REPORTS. ALL DECISIONS AND REPORTS ARE PRESENTED AND DISCUSSED WITH THE BOARD OF DIRECTORS AND APPROVED BY THE BOARD OF DIRECTORS. APOSTLES VILLAGE 1900 SPRING RD STE 450 OAK BROOK IL 60523 422100763 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 BAYONET POINT AREA HOUSING INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 363696590 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 BETHEL AREA HOUSING INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 363696581 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 BETHEL AREA HOUSING SOUTH 1900 SPRING RD STE 450 OAK BROOK IL 60523 363973915 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 EMBRACE INTEREST LLC 1900 SPRING RD STE 450 OAK BROOK IL 60523 852148586 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 EMBRACE LIVING CHARITIES 1900 SPRING RD STE 450 OAK BROOK IL 60523 362166970 FUNDRAISING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 EMBRACE LIVING COMMUNITIES 1900 SPRING RD STE 450 OAK BROOK IL 60523 363487477 PROPERTY MANAGEMENT IL 501(C)(3) 509(A) N/A 0 EMBRACE LIVING DEVELOPMENT 1900 SPRING RD STE 450 OAK BROOK IL 60523 363729609 PROPERTY MANAGEMENT IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 GLENVIEW ELDERLY HOUSING INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 363569408 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 GREENCASTLE OF ALLERTON 1900 SPRING RD STE 450 OAK BROOK IL 60523 271954463 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 GREENCASTLE OF BARRINGTON INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 363267264 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 GREENCASTLE OF BIENTERRA 1900 SPRING RD STE 450 OAK BROOK IL 60523 364126791 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 GREENCASTLE OF LOVES PARK 1900 SPRING RD STE 450 OAK BROOK IL 60523 364352754 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 GREENCASTLE OF MULFORD 1900 SPRING RD STE 450 OAK BROOK IL 60523 363038261 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 GREENCASTLE OF NORTH AURORA 1900 SPRING RD STE 450 OAK BROOK IL 60523 371421479 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 GREENCASTLE OF PALATINE INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 363895200 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 KENWOOD AREA HOUSING INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 363696608 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 MEMORIAL DRIVE COMMUNITY INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 452652514 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 MORGAN PARK AND BEVERLY HANDICAPPED INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 363515819 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 SARASOTA AREA HOUSING INC 1900 SPRING RD STE 450 OAK BROOK IL 60523 363696610 AFFORDABLE HOUSING IL 501(C)(3) 509(A) EMBRACE LIVING COMMUNITIES 0 ANCHOR SENIOR LIVING 2021 LP 1900 SPRING RD STE 450 OAKBROOK IL 60523 872830266 RENTAL SENIOR IL N/A 0 0 GREENWOOD SENIOR LIVING 2021 LP 1900 SPRING RD STE 450 OAKBROOK IL 60523 872863302 RENTAL SENIOR IL N/A 0 0 GROVE SENIOR LIVING 2021 LP 1900 SPRING RD STE 450 OAKBROOK IL 60523 852201219 RENTAL SENIOR IL N/A 0 0 OASIS SENIOR LIVING 2021 LP 1900 SPRING RD STE 450 OAKBROOK IL 60523 852224763 RENTAL SENIOR IL N/A 0 0 ANCHOR SENIOR LIVING 2021 GP LLC 1900 SPRING RD STE 450 OAKBROOK IL 605231480 852073277 RENTAL SENIOR IL N/A C 0 GREENWOOD SENIOR LIVING 2021 GP LLC 1900 SPRING RD STE 450 OAKBROOK IL 605231480 872840003 RENTAL SENIOR IL N/A C 0 GROVE SENIOR LIVING 2021 GP LLC 1900 SPRING RD STE 450 OAKBROOK IL 605231480 852073277 RENTAL SENIOR IL N/A C 0 OASIS SENIOR LIVING 2021 GP LLC 1900 SPRING RD STE 450 OAKBROOK IL 605231480 852124487 RENTAL SENIOR IL N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0