Asbury Foundation

“Asbury foundation has one sole member, the exempt entity asbury heights of upmc.”

“The parent entity of asbury foundation, asbury heights of upmc, has the ability to appoint board members to asbury foundation as stipulated in the by-laws of asbury foundation.”

“The parent entity of asbury health center, asbury heights of upmc, has the following reserved power: only the member of the corporation can obligate the corporation to pay a mortgage bond, promissory note or other instrument obligating the corporation to a debt payable to a third party for a term in excess of one year. This restriction shall not apply to leases or agreements for professional services.”

“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.”

“Upmc requires all of its key employees and non-employed personnel to comply with its conflict of interest policies when they engage in upmc-related business. People covered by the policies include: -upmc entity board members, board committee members, and corporate officers -upmc physicians and non-physician employees who hold a position of influence -non-employed members of the upmc medical staff who hold a position of influence of trust -individuals conducting clinical research at upmc, whether or not they are employed by upmc. These people are required to complete a questionnaire at least annually. An electronic form has been developed to capture the data from the questionnaire and to monitor completion. The information, along with other data, is used to capture individual and institutional relationships so that potential conflicts of interest can be identified. If a potential conflict is identified regarding a specific upmc activity the corporate compliance department, with the assistance of the legal department, evaluate the activity in relation to the potential conflict. If a perceived or actual conflict is determined to exist and a decision is made to proceed with the activity, a written plan designed to prevent the conflict from influencing decisions related to the activity is developed. The process is ultimately overseen by a conflict of interest committee of the upmc board of directors on behalf of all upmc subsidiaries, including asbury foundation.”

“Upmc has established a rigorous compensation review process for its top executives which includes review by its executive compensation committee in a process intended to satisfy the "rebuttable presumption of reasonableness" set forth in the regulations to sections 4958 of the internal revenue code. Upmc gives authority to those executives to establish the compensation of executives of other subsidiaries and business units, including those of asbury foundation.”

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

“Upon request, management determines public disclosure applicability.”

“Restricted assets released -2,342,458. Assets released from restriction -838,873. Donations to restricted funds 3,219,962. Change in beneficial interest 14,011. Net investment earnings -12,714. Investment adjustment 62,871.”

“The organization's financial statements are part of a consolidated financial statement audit performed by ey for upmc and all subsidiaries. The entire system's financial statements, of which this organizations is part of, are posted on the upmc website. (www.upmc.com) the financial statement audit during the 990 filing period is for the calendar year ended december 31, 2020.”