Nonprofit · EIN 51-0245745
FRIENDS OF FAITH RETIREMENT HOMES INC
Tax-exempt · WATERLOO, IA 50702
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2026 | 990 | $26,301,801 | $31,055,500 | -$4,753,699 | $99,657,300 | $108,538,628 | -$8,881,328 |
| March 31, 2025 | 990 | $26,620,572 | $29,121,285 | -$2,500,713 | $102,796,633 | $105,804,530 | -$3,007,897 |
| March 31, 2024 | 990 | $26,167,260 | $28,508,222 | -$2,340,962 | $105,777,873 | $106,285,057 | -$507,184 |
Financial details: 990 for the year ended March 31, 2026
Revenue
- Contributions, gifts and grants
- $4,438,082
- Program service revenue
- $21,738,991
- Investment income
- $136,639
- Net rental income
- -$16,314
- Net gain from sales of assets
- $18,181
- Other revenue
- -$11,911
Expenses
- Grants and similar amounts paid
- $3,469,342
- Compensation of officers, directors and key employees
- $282,866
- Other salaries and wages
- $10,792,875
- Salaries, compensation and benefits (total)
- $13,824,418
- Professional fundraising fees
- $0
- Legal fees
- $38,360
- Accounting fees
- $43,018
- Occupancy
- $1,971,189
- Travel
- $53,957
- Depreciation
- $4,056,850
- Program services (functional)
- $27,257,407
- Management and general (functional)
- $3,639,984
- Fundraising (functional)
- $158,109
Balance sheet and other
- Total assets, start of year
- $102,796,633
- Total assets, end of year
- $99,657,300
- Total liabilities, end of year
- $108,538,628
- Net assets, end of year
- -$8,881,328
- Land, buildings and equipment
- $90,807,747
- Net assets without donor restrictions
- -$8,881,328
- Gross receipts
- $26,674,598
- Employees
- 543
- Volunteers
- 1
- Year formed
- 1966
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended March 31, 2026, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHERRY TURNER | PRESIDENT/CE Key employee | 40 | $250,006 | $32,860 |
| CRAIG ANDERSON | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RICK BAUER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| STEVE GILLEN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JIM GRADY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PASTOR TOM HLAD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ROBERT SMITH JR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| RONALD KIEWIET | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BRAD MORRIS | PAST CHAIRMA Trustee or director, Officer | 1 | $0 | $0 |
| JAY NARDINI | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| PASTOR CHRIS RYGH | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| PAUL SMITH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| VERA WALLICAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended March 31, 2025: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LISA GATES | PAST PRESIDE Former | 50 | $338,349 | $20,414 |
| SHERRY TURNER | PRESIDENT/CE Key employee | 40 | $238,566 | $27,777 |
| CRAIG ANDERSON | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RICK BAUER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| STEVE GILLEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JIM GRADY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PASTOR TOM HLAD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| RONALD KIEWIET | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PASTOR QUOVADIS MARSHALL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BRAD MORRIS | PAST CHAIRMA Trustee or director, Officer | 1 | $0 | $0 |
| JAY NARDINI | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| PASTOR CHRIS RYGH | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| BOB SMITH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARK TINK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| VERA WALLICAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended March 31, 2024: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LISA GATES | PRESIDENT/CE Key employee | 50 | $297,289 | $24,838 |
| GEORGE FARBER | BOARD MBR/CH Trustee or director | 1 | $4,800 | $0 |
| CRAIG ANDERSON | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| RICK BAUER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| STEVE GILGEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JIM GRADY | PAST CHAIRMA Trustee or director, Officer | 1 | $0 | $0 |
| PASTOR TOM HLAD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| RONALD KIEWIET | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PASTOR QUOVADIS MARSHALL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BRAD MORRIS | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| JAY NARDINI | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PASTOR CHRIS RYGH | VICE CHAIRMA Trustee or director, Officer | 1 | $0 | $0 |
| BOB SMITH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARK TINK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PASTOR JESSE TINK | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| VERA WALLICAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 600 PARK LANE, WATERLOO, IA 50702-5200
- Principal officer (990 for 2025)
- SHERRY TURNER, 600 PARK LANE, WATERLOO, IA 50702
- Signed the 990
- SHERRY TURNER, PRESIDENT/CEO
- Phone
- (319) 291-8100
- Return prepared by
- RUZICKA & ASSOCIATES PLLC
Mission
LIFECARE FOR ADULTS 62 AND OVER.
Program accomplishments
- TO PROMOTE THE DIGNITY OF ADULTS 62 AND OVER BY PROVIDING A CONTINUUM OF CARE INCLUDING INDEPENDENT LIVING, ASSISTED LIVING AND SKILLED NURSING CARE LIVING ACCOMMODATIONS AND SERVICES WHEREBY THESE ADULTS MAY BE ASSISTED IN MAXIMIZING THEIR PHYSICAL AND SPIRITUAL WELL-BEING WHILE MAINTAINING THEIR FINANCIAL INDEPENDENCE IN A CONGENIAL ENVIRONMENT WITH A CHRISTIAN MINISTRY.Expenses $26,454,294 · grants $3,469,342 · revenue $25,747,715
- TO PROVIDE SAFE AND SECURE CHILD CARE AT A REASONABLE COST 24 HOURS A DAY, 7 DAYS A WEEK.Expenses $803,113 · revenue $609,901
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | 990 on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 51-0245745
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1968
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L220)
- Assets (IRS master file)
- $99,657,300
- Income (IRS master file)
- $26,674,598
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2026 | $26,301,801 | $31,055,500 | $99,657,300 | XML |
| 990 | March 2025 | $26,620,572 | $29,121,285 | $102,796,633 | XML |
| 990 | March 2024 | $26,167,260 | $28,508,222 | $105,777,873 | XML |
| 990 | March 2023 | $30,283,903 | $29,928,108 | $106,965,009 | IRS |
| 990 | March 2021 | – | – | – | IRS |
| 990 | March 2019 | – | – | – | IRS |
| 990 | March 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 51-0245745).
Questions about FRIENDS OF FAITH RETIREMENT HOMES INC
- What is the EIN of FRIENDS OF FAITH RETIREMENT HOMES INC?
- The employer identification number (EIN) of FRIENDS OF FAITH RETIREMENT HOMES INC is 51-0245745.
- Is FRIENDS OF FAITH RETIREMENT HOMES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1968.
- Are donations to FRIENDS OF FAITH RETIREMENT HOMES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FRIENDS OF FAITH RETIREMENT HOMES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FRIENDS OF FAITH RETIREMENT HOMES INC due?
- The return for tax year 2026 (the year ending March 31, 2027) is due August 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FRIENDS OF FAITH RETIREMENT HOMES INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2026.
- Who is the principal officer of FRIENDS OF FAITH RETIREMENT HOMES INC?
- The 990 for the year ended March 31, 2026 names SHERRY TURNER.
- Who are the officers and directors of FRIENDS OF FAITH RETIREMENT HOMES INC?
- The 990 for the year ended March 31, 2026 lists 13 people; 1 received compensation from the organization, the highest $250,006 (SHERRY TURNER, PRESIDENT/CE).
- How much revenue does FRIENDS OF FAITH RETIREMENT HOMES INC have?
- On its 990 for the year ended March 31, 2026 it reported revenue of $26,301,801, expenses of $31,055,500 and total assets of $99,657,300 at year end.
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