2025-08-14T05:05:19-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 1 SOUTH WACKER DRIVE SUITE 3550 CHICAGO IL 60606 990 2024-01-01 271954463 GREENCASTLE OF ALLERTON C/O EMBRACE LIVING COMMUNITIES GREE 6305218021 1900 SPRING ROAD SUITE 450 OAK BROOK IL 605231480 RALPH GAINES PRESIDENT & CEO 6305218021 2025-08-06 1 1 KAREN A SCHAEFER P00545171 3125085900 2025-08-04 2024 2025-03-06 01:10:19Z X RALPH GAINES 1900 SPRING ROAD SUITE 450 OAK BROOK IL 605231480 301241 0 X WWW.EMBRACELIVING.ORG X 2009 IL TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE, WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING. 8 7 0 8 0 0 0 0 272787 275580 243 6790 3595 18871 276625 301241 0 0 0 0 101221 103491 0 0 0 230013 232511 331234 336002 -54609 -34761 2071800 2029708 34836 27505 2036964 2002203 TO PROVIDE ACTIVELY AGING ADULTS AFFORDABLE, WELCOMING HOMES IN COMMUNITIES THAT EMBRACE LIVING. 0 0 301741 294451 GREENCASTLE OF ALLERTON WAS FORMED IN 2009 AS A NONPROFIT CORPORATION UNDER THE STATE OF ILLINOIS FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT FOR THE ELDERLY AS DEFINED IN SECTION 202 OF THE HOUSING ACT OF 1959. IT OPERATES 20 UNITS BUILDING. 301741 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 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 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X EMBRACE LIVING COMMUNITIES 6305218021 COMMUNITIES 1900 SPRING ROAD SUITE OAK BROOK IL 60523 SCOTT MEYER CHAIRMAN 0.20 X 0 0 0 RUTH CARLSON DIRECTOR 0.20 X 0 0 0 KAREN LATIMER-HORSTHEAKE DIRECTOR 0.20 X 0 0 0 TONYA PITTS DIRECTOR 0.20 X 0 0 0 IRV WOODS DIRECTOR 0.20 X 0 0 0 ROBERT GAMRATH DIRECTOR 0.20 X 0 0 0 J PAUL BERTSCHE DIRECTOR 0.20 X 0 0 0 RALPH GAINES PRESIDENT & CEO 0.20 39.80 X 0 371596 50615 ANNE M OLIVA EXECUTIVE VICE PRESIDENT & CFO 0.00 40.00 X 0 214166 22837 JENNIFER TRUPPA DIRECTOR OF SOCIAL SERVICE AND QUALITY ASSURANCE 0.00 40.00 X 0 119654 40480 DAWN ZENKNER CONTROLLER 0.00 40.00 X 0 112421 38818 ED HAVLOVIC DIRECTOR OF PLANT OPERATIO 0.00 40.00 X 0 106816 27750 GARY ADAMS DIRECTOR OF OPERATIONS 0.00 40.00 X 0 116071 29254 ALINA SERBAN CHIEF OF STAFF 0.00 40.00 X 0 101464 38357 0 1142188 248111 0 0 1 0 0 LOW INCOME HOUSING 531110 275580 275580 275580 258 258 6532 0 6532 6532 6532 MISCELLANEOUS REVENUE 531110 14188 14188 LAUNDRY AND VENDING 531110 4507 4507 TENANT CHARGES 531110 176 176 18871 301241 301241 0 0 74074 74074 22519 22519 6898 6898 21460 21460 10050 10050 2751 2751 112 112 17829 17829 25737 25737 94 94 1761 1761 81385 81385 18124 18124 REPAIRS & MAINTENANCE 50164 50164 WORKERS COMPENSATION IN 1685 1685 MISC. EXPENSES 1359 1359 336002 301741 34261 0 21267 4192 26 7748 10499 2976722 1209906 1807589 1766816 235196 248175 2071800 2029708 24408 14841 10428 12664 34836 27505 X -761436 -796197 2798400 2798400 2036964 2002203 2071800 2029708 -34761 0 X 0 1 X 0 1 1 X 258198 262509 275288 272787 275580 1344362 258198 262509 275288 272787 275580 1344362 0 0 0 1344362 78 57 126 243 258 762 78 57 126 243 258 762 2761 4061 3997 3595 18871 33285 261037 266627 279411 276625 294709 1378409 0.97530 0.98580 0.00060 0.00050 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISC INCOME - 2021 AMOUNT: $ 1,134. 2022 AMOUNT: $ 867. 2023 AMOUNT: $ 122. 2024 AMOUNT: $ 14,188. LAUNDRY AND VENDING - 2020 AMOUNT: $ 2,757. 2021 AMOUNT: $ 2,847. 2022 AMOUNT: $ 3,120. 2023 AMOUNT: $ 3,443. 2024 AMOUNT: $ 4,507. TENANT CHARGES - 2020 AMOUNT: $ 4. 2021 AMOUNT: $ 80. 2022 AMOUNT: $ 10. 2023 AMOUNT: $ 30. 2024 AMOUNT: $ 176. 90000 90000 2486914 853564 1633350 63426 61304 2122 336382 295038 41344 1766816 SECURITY DEPOSITS 10757 REPAIR & REPLACEMENT RESERVE 224708 TAX & INSURANCE RESERVE 9613 RESIDUAL RECEIPTS RESERVE 3097 248175 SECURITY DEPOSITS 9587 ACCRUED PAYROLL 2779 DUE TO MANAGEMENT AGENT EMBRACE LIVING COMMUNITIES 298 12664 294709 0 294709 6532 6532 301241 329470 0 329470 6532 6532 336002 PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON ASSET DISPOSITION NETTED AGAINST OTHER EXPENSES FINANCIAL STATEMENT 6,532. PART XII, LINE 4B - OTHER ADJUSTMENTS: GAIN ON ASSET DISPOSITION NETTED AGAINST OTHER EXPENSES FINANCIAL STATEMENT 6,532. X X X 0 0 0 0 0 0 0 0 0 RALPH GAINES PRESIDENT & CEO 0 371596 0 0 0 0 0 13800 0 36815 0 422211 0 0 ANNE M OLIVA EXECUTIVE VICE PRESIDENT & CFO 0 214166 0 0 0 0 0 8513 0 14324 0 237003 0 0 JENNIFER TRUPPA DIRECTOR OF SOCIAL SERVICE AND QUALI 0 119654 0 0 0 0 0 4895 0 35585 0 160134 0 0 DAWN ZENKNER CONTROLLER 0 112421 0 0 0 0 0 4526 0 34292 0 151239 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 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 , THE CORPORATION REQUIRES THE FOLLOWING: 1. 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. 2. 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. 3. 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. 4. 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. 5. 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. 6. THE CHAIR OF THE COMMITTEE SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF CONFLICTS INVOLVING FINANCE/AUDIT COMMITTEE MEMBERS. 7. THE CHAIR OF THE BOARD SHALL BE RESPONSIBLE FOR MAKING ALL DECISIONS CONCERNING RESOLUTIONS OF THE CONFLICTS INVOLVING THE CHAIR OF THE FINANCE/AUDIT COMMITTEE. 8. 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 APPERANCE 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. *RESOLTUION 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 INTERST 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, REERRAL FOR CRIMINAL PROSECTUION, AND REIMBURSMENT 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 FIARNESS WILL APPLY. ANY EMPLOYEE CHARGED WITH A VIOLATION OF THIS POLICY WILL BE AFFORDED AN OPPORTUNITY TO EXPLAIN HIS/HER 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 NOT-FOR-PROFIT ORGANIZATIONS LIKE WWW.GUIDESTAR.COM. 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. 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