Friendship Apartment Village Corporation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
SUPPORTING FRIENDS BY PROVIDING PEACE OF MIND
- Income
- $6.4 million
- Spending
- $5.7 million
- Spent on programs
- 80%
- Reserves
- -4.4 months of spending
- Largest source of income
- fees for its services, 89%
- Employees
- 32
- Volunteers
- 8
- Highest pay
- $594,635, president & ceo
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 40 out of 100. Higher than 18% of charities in its peer group (housing, $1m to $10m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
5 of 20It owes 54% of what it owns.
Living within its means
15 of 15Income exceeded spending by 10% of income.
Income trend
5 of 15Income fell 16% on the year before.
Spending floor
15 of 1580% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 70% of charities in its peer group (housing, $1m to $10m).
Independent board
25 of 2510 of 10 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (2)
- $4.6 million spent. LIFE LEASE AND RENTAL APARTMENTS FOR THE ELDERLY, THE CORPORATION OWNS AND OPERATES 309 UNITS, WITH A 95.36% OCCUPANCY RATE FOR THE FISCAL YEAR. ONE OF THE ADVANTAGES OF LIVING IN OUR RETIREMENT COMMUNITY IS THE OPPORTUNITY TO MOVE TO ONE OF OUR OTHER FACILITIES IF THE RESIDENT NEEDS A HIGHER LEVEL OF CARE SUCH AS ASSISTED LIVING OR A SKILLED NURSING FACILITY WITHOUT LEAVING THE COMMUNITY WHERE THEY HAVE DEVELOPED FRIENDSHIPS AND TIES. IN ADDITION, WE PROVIDE COUNSELING AND ASSISTANCE FOR THOSE WHO SUFFER FINANCIAL HARDSHIPS, AND WORK WITH THEM TO IDENTIFY SOLUTIONS IN AN ATTEMPT TO ALLOW THEM TO REMAIN IN THIER APARTMENTS.THE CORPORATION FURNISHES AN APARTMENT TO FRIENDSHIP HEALTH AND REHAB CENTER, INC, AND AN APARTMENT TO FRIENDSHIP HEALTH AND REHAB SOUTH, INC, RELATED NPOS, FOR NURSES WHO WORK SPECIAL SHIFTS, SUCH AS 8 HOURS AT WORK AND 8 HOURS OFF. THIS GIVES THE NURSES AN OPPORTUNITY TO GET ADEQUATE REST. IT ALSO HELPS MAINTAIN STAFF ON CAMPUS DURING EMERGENCY SITUATIONS. EVENTS ARE PLANNED EACH MONTH FOR TRIPS IN THE AREA AND OCCASIONALLY OR OF THE AREA. THERE IS ALSO A CONTRACT REGISTERED NURSE FROM PROFESSIONAL HEALTH CARE SERVICES, INC., A RELATED CORPORATION, WHO VISITS RESIDENTS AND ADMINISTERS BLOOD PRESSURE CHECKS, B-12 SHOTS AND OTHER SIMILAR NEEDS.THE CORPORATION DISTRIBUTES A MONTHLY NEWSLETTER CALLED "THE FRIENDLY CIRCLE" TO THE RESIDENTS. IT IS FREE, HAS NO PAID ADVERTISING IN IT, AND CONTAINS ARTICLES AND A CALENDAR OF COMING EVENTS USEFUL TO THE RESIDENTS. THERE ARE ARTICLES BY THE DIRECTOR OF RESIDENTIAL SERVICES, PHARMACISTS, DOCTORS AND OTHER SUBJECTS THAT WOULD BE OF INTEREST TO THE RESIDENTS. THE LETTER ALSO CONTAINS A CALENDAR WITH THE MENU SPECIALS AND THE BISTRO.
- RECREATION/CULTURAL CENTER. THE CENTER HAS A BILLIARDS ROOM, MEETING ROOMS, BANQUET FACILITIES, POOL, EXERCISE ROOMS, GAME ROOM, CRAFT ROOM AND CHAPEL.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since February 1979.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.