Asbury Foundation

“Asbury foundation has a cpa firm prepare its form 990. The return is completed in draft form and reviewed by management of the organization. The return is then finalized and the board is provided a copy of the form 990 to review before it is filed.”

“At the annual board meeting, each board member is required to sign a conflict of interest policy statement. The conflict of interest statements are monitored during the board meeting. If an interested party has a conflict, he or she recuses themselves from voting.”

“The ceo's compensation is paid by united methodist services for the aging. The compensation is determined by united methodist services for the aging's compensation committee, which is comprised of certain officers of the board and general counsel. Compensation adjustments are determined in consideration of both internal equity as well as external marketplace equity. As a part of the annual budgeting process, the board agrees to an operating budget that includes anticipated adjustments to the compensation of all management employees including the ceo. Every three to five years an outside consultant firm is hired by the compensation committee to review the external competitiveness of the ceo's compensation package. The most recent review included the completion of a customized and highly detailed compensation analysis which, among other things, established the compensation range for the ceo position, using both national/regional and local data. The results of these third party analyses from the basis of assessing external marketplace competitiveness/fairness of the compensation package and informs of any needed adjustments.”

“Asbury foundation makes its form 990 available to the public upon request.”

“At this time, asbury foundation does not make its governing documents,conflict of interest policy or financial statements available to the public.”

“All expenses are paid through asbury foundation's parent corporation, united methodist services for the aging (ein 25-1555687) and then allocated to various related organizations. All form 1099-misc are issued from united methodist services for the aging. The list of the five highest paid contractors is reported on form 990, part vii of united methodist services for the aging. Some of these expenses reported on united methodist services for the aging's form 990 part vii were allocated to the various related organizations. See schedule r, part ii for the list of related organizations.”

“Forgiveness of debt due from affiliates 408,450. Valuation gain, beneficial interest in perpetual trusts 843. Recording of temporarily restricted net assets -25,696.”

“Asbury foundation has an audit committee that is responsible for overseeing the audit of the financial statements and selection of an independent accountant. This process has not changed from prior year.”