Civic Intelligence

Asbury Points Inc.

990 • Fiscal year 2016 • EIN 16-1516081

Jan 01, 2016 to Dec 31, 2016 • Filed on May 11, 2017

100 Stahl RoadGetzville, NY 14068

(716) 810-7500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

1.18x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

7.92x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

20th percentile

-6.5%

Higher net margin than 20% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

60th percentile

$287,414

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

39th percentile

0.2%

Faster asset growth than 39% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

30th percentile

-3.9%

Faster revenue growth than 30% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Up

$28,550,516

Up $58,546 (+0.2%) from 2015

Net Assets

Up

-$5,280,647

Up $415,650 (+7.3%) from 2015

Liabilities

Down

$33,831,163

Down $357,104 (-1.0%) from 2015

Revenue

Down

$4,273,274

Down $172,717 (-3.9%) from 2015

Expenses

Up

$4,551,993

Up $28,154 (+0.6%) from 2015

Net Income

Down

-$278,719

Down $200,871 (-258%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$20M$0-$20MAssets 2011: $36,080,305Liabilities 2011: $37,901,524Net Assets 2011: -$1,821,2192011Assets 2012: $28,344,267Liabilities 2012: $29,198,863Net Assets 2012: -$854,5962012Assets 2013: $28,117,676Liabilities 2013: $32,889,919Net Assets 2013: -$4,772,2432013Assets 2014: $28,661,763Liabilities 2014: $33,711,952Net Assets 2014: -$5,050,1892014Assets 2015: $28,491,970Liabilities 2015: $34,188,267Net Assets 2015: -$5,696,2972015Assets 2016: $28,550,516Liabilities 2016: $33,831,163Net Assets 2016: -$5,280,6472016Assets 2017: $30,689,112Liabilities 2017: $34,459,963Net Assets 2017: -$3,770,8512017Assets 2018: $28,862,244Liabilities 2018: $33,860,697Net Assets 2018: -$4,998,4532018Assets 2019: $31,063,821Liabilities 2019: $33,719,299Net Assets 2019: -$2,655,4782019Assets 2020: $33,179,689Liabilities 2020: $33,975,175Net Assets 2020: -$795,4862020Assets 2021: $34,710,260Liabilities 2021: $32,953,515Net Assets 2021: $1,756,7452021Assets 2022: $31,064,243Liabilities 2022: $32,616,632Net Assets 2022: -$1,552,3892022Assets 2023: $34,488,494Liabilities 2023: $32,800,629Net Assets 2023: $1,687,8652023Assets 2024: $36,307,080Liabilities 2024: $32,724,833Net Assets 2024: $3,582,2472024

Highlighted filing

2016

Assets$28,550,516
Liabilities$33,831,163
Net Assets-$5,280,647

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $4,993,906Expenses 2011: $4,243,142Net Income 2011: $750,7642011Revenue 2012: $4,676,853Expenses 2012: $4,043,383Net Income 2012: $633,4702012Revenue 2013: $4,521,507Expenses 2013: $4,442,045Net Income 2013: $79,4622013Revenue 2014: $4,147,288Expenses 2014: $4,226,687Net Income 2014: -$79,3992014Revenue 2015: $4,445,991Expenses 2015: $4,523,839Net Income 2015: -$77,8482015Revenue 2016: $4,273,274Expenses 2016: $4,551,993Net Income 2016: -$278,7192016Revenue 2017: $4,996,549Expenses 2017: $4,828,345Net Income 2017: $168,2042017Revenue 2018: $5,190,377Expenses 2018: $5,043,588Net Income 2018: $146,7892018Revenue 2019: $5,450,423Expenses 2019: $5,135,438Net Income 2019: $314,9852019Revenue 2020: $5,132,540Expenses 2020: $5,186,839Net Income 2020: -$54,2992020Revenue 2021: $6,728,678Expenses 2021: $5,319,049Net Income 2021: $1,409,6292021Revenue 2022: $5,657,402Expenses 2022: $5,537,262Net Income 2022: $120,1402022Revenue 2023: $6,966,938Expenses 2023: $5,741,353Net Income 2023: $1,225,5852023Revenue 2024: $7,311,561Expenses 2024: $6,009,238Net Income 2024: $1,302,3232024

Highlighted filing

2016

Revenue$4,273,274
Expenses$4,551,993
Net Income-$278,719
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 11, 2017
Return Version
2016v3.0
Gross Receipts
$9,553,453
Mission and Program Overview

Mission

Guided by christian values, we are committed to nurturing each individual's quality of living and aging by honoring personal values in a supportive environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,881,497$13,733,330▼ $148,167
Investments in Publicly Traded Securities$9,347,686$9,313,533▼ $34,153
Cash and Non-Interest-Bearing Accounts$1,942,063$2,139,551▲ $197,488
Investments Other Securities$1,325,850$1,941,116▲ $615,266
Prepaid Expenses and Deferred Charges$187,974$173,487▼ $14,487
Accounts Receivable$71,214$98,872▲ $27,658
Inventories for Sale or Use$35,988$35,764▼ $224
Total Assets$28,491,970$28,550,516▲ $58,546
Other Assets Total$1,699,698$1,114,863▼ $584,835
Liabilities
Other Liabilities$22,062,419$22,617,404▲ $554,985
Tax Exempt Bond Liabilities$12,041,692$11,112,662▼ $929,030
Accounts Payable and Accrued Expenses$84,156$101,097▲ $16,941
Total Liabilities$34,188,267$33,831,163▼ $357,104
Net Assets / Fund Balance
Unrestricted Net Assets$-5,696,297$-5,280,647▲ $415,650
Total Net Assets Fund Balance$-5,696,297$-5,280,647▲ $415,650
Total Liabilities and Net Assets / Fund Balance$28,491,970$28,550,516▲ $58,546

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,790,634$7,773,878$20,564,512
Equipment$538,823$1,161,672$1,700,495
Other Land Buildings$302,852$251,110$553,962
Land$101,021-$101,021
Other Securities$1,941,116--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael S PriceDirector of FinancePT$25,299$96,426$121,725
DANIEL P O'NEILLPresident/CEOPT$47,776$4,973$52,749
Kristin M AndersonVP of Finance/CFO-$33,525$1,630$35,155

Board Members and Trustees

NameTitle
Stephen N HuntChair
Carol M FordenVice Chair
David ReichardBoard Member
Gayle DenningBoard Member
John C KillianBoard Member
Mary a KellyBoard Member
Robert WhitneyBoard Member
Wayne M WestBoard Member
Barbara a GasiewiczSecretary
Timothy C CashmoreTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Todd CompanyConstruction Work6250 CAMPBELL BLVD, Lockport, NY 14094$183,767
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,126,658
Investment Income
$14,410
Other Revenue
$132,206
Change in Net Assets
$-278,719

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,273,274
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$694,369
Total Revenue per Audited Statements
$4,967,643
Total Revenue per Form 990
$4,273,274
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,849,951
Salaries, Compensation, and Employee Benefits$1,702,042
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,151,749$137,984-$1,289,733
Depreciation Depletion$780,878--$780,878
Interest$416,666--$416,666
Occupancy$241,255--$241,255
Other Employee Benefits$180,338$21,953-$202,291
Advertising$116,410--$116,410
Office Expenses$107,335$8,904-$116,239
Payroll Taxes$85,794$16,603-$102,397
Insurance$99,409--$99,409
Current Officers, Directors, Trustees, and Key Employees$71,201$10,101-$81,302
Pension Plan Contributions$21,492$4,827-$26,319
Fees for Services Legal-$26,118-$26,118
Other Expenses$5,178$18,485-$23,663
Fees for Services Accounting-$20,000-$20,000
All Other Expenses$4,218$3,756-$7,974
Conferences and Meetings$1,094$791-$1,885
Travel-$1,259-$1,259
Total Functional Expenses$3,986,479$565,514$0$4,551,993

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,551,993
Total Expenses per Audited Statements$4,551,993
Total Expenses per Form 990$4,551,993
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Entrance Fees$22,149,738
Accrued Wages and Related Benefits$224,161
Entrance Fee Deposits$121,647
Due to Beechwood Health Care Center$65,374
Interest Rate Swap$56,484

Bond Issues

BondIssuerIssuedIssue PricePurpose
ATwn of Amherst Dev Corp Senior Living Facility Var Rate Bonds Ser 2011a2011-12-29$7,790,000Defease and refinance previous issue
BTwn of Amherst Dev Corp Senior Living Facility Var Rate Bonds Ser 2013a2013-07-03$5,137,970Defease and refund previous bond

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$7,790,000--$155,800
B$5,137,970--$102,759

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by an independent accounting firm. A draft is sent to all board members who are asked to review and provide comments. The fiscal management committee of the board has been empowered to approve the final 990 before it is filed.

Form 990, Part VI, Section B, Line 12C

Conflict of interest policy is provided to each director and officer on an annual basis at which time a written disclosure is completed and signed.

Form 990, Part VI, Section B, Line 15A

The executive committee of the board of directors discusses and recommends for full board approval the compensation of the president/ ceo after an industry-specific compensation study is consulted. Salaries are compared with similar organizations in the region by accessing 990 forms from the previous year. The ceo reviews, approves, and documents the compensation of other officers and key employees. He considers comparable compensation for similarly qualified persons in functionally comparable positions.

Form 990, Part VI, Section C, Line 18

The organization's form 1023 and form 990 are available upon request. The form 990 is also available on guidestar.org.

Form 990, Part VI, Section C, Line 19

The organization makes its conflict of interest policy available to the public through its website, www.beechwoodcare.org.

Filing and Contact Details

Filer

Filer Name
Asbury Pointe Inc
EIN
16-1516081
Phone
7168107500
Address
100 STAHL ROAD, GETZVILLE, NY 14068

Signing Officer

Name
Kristin M Anderson
Title
VP of Finance / CFO
Phone
7168107500
Signed
2017-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
DANIEL P O'NEILL
Formed
2000
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
135
Volunteers
40

Preparer

Firm
Freed Maxick Cpas Pc
Address
424 MAIN STREET SUITE 800, BUFFALO, NY 14202-3508
Preparer
Mary Madonia
Phone
7168472651
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in interest rate swap 103,931. Change in interest in foundation 300.

FORM 990, PART XII, LINE 2C:

There has been no change from the prior year in the audit oversight process or the independent accountant selection process.

Financial Statement Notes

PART X, LINE 2:

Asbury is a not-for-profit corporation as described in section 501(a) of the internal revenue code and is exempt from federal taxes on related income under 501(c)(3) of the code. Accordingly, no provision for federal income taxes is included in the financial statements. Asbury is not classified as a private foundation for tax purposes. Asbury files its return of organization exempt from income tax in the u.s. Federal jurisdiction and its annual filing of charitable organizations in new york state.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in interest rate swaps 103,931. Change in interest in foundation 300.

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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08904
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IRS990/OnBehalfOfIssuerInd00
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.3$32.7$3.58$7.31$6.01$1.30
2023Detailed filing. Detailed filing data is available for this year.$34.5$32.8$1.69$6.97$5.74$1.23
2022Detailed filing. Detailed filing data is available for this year.$31.1$32.6$1.55$5.66$5.54$0.12
2021Detailed filing. Detailed filing data is available for this year.$34.7$33.0$1.76$6.73$5.32$1.41
2020Detailed filing. Detailed filing data is available for this year.$33.2$34.0$0.80$5.13$5.19$0.05
2019Detailed filing. Detailed filing data is available for this year.$31.1$33.7$2.66$5.45$5.14$0.31
2018Detailed filing. Detailed filing data is available for this year.$28.9$33.9$5.00$5.19$5.04$0.15
2017Detailed filing. Detailed filing data is available for this year.$30.7$34.5$3.77$5.00$4.83$0.17
2016Detailed filing. Detailed filing data is available for this year.$28.6$33.8$5.28$4.27$4.55$0.28
2015Detailed filing. Detailed filing data is available for this year.$28.5$34.2$5.70$4.45$4.52$0.08
2014Detailed filing. Detailed filing data is available for this year.$28.7$33.7$5.05$4.15$4.23$0.08
2013Detailed filing. Detailed filing data is available for this year.$28.1$32.9$4.77$4.52$4.44$0.08
2012Summary only. Only limited summary data is available for this year.$28.3$29.2$0.85$4.68$4.04$0.63
2011Summary only. Only limited summary data is available for this year.$36.1$37.9$1.82$4.99$4.24$0.75