Asbury Atlantic Inc

“The corporation may have an executive committee as set forth herein. The chair of the board of directors shall serve as chair of the executive committee and may appoint two (2) additional directors to serve on the executive committee. The executive committee may act in place of the board when there is business of the corporation to be transacted between regular meetings and convening a special meeting was deemed by the chair to not be necessary or possible. The full board will be notified within fifteen (15) days of any actions of the executive committee. The executive committee will have no power to take action that is restricted by applicable law.”

“Asbury atlantic has one member. The sole member is asbury communities, inc.”

“Asbury communities, inc is the sole member of asbury atlantic and elects the governing body.”

“Only certain decisions of the governing body are subject to asbury community inc's approval. These decisions include: (1) management services relationships and contracts; (2) any organizational change in general, including mergers, sales, leases, etc, of substantially all of the assets and the creation of new entities; (3) amendments to mission or vision statements; (4) amendments to the articles of incorporation or bylaws; (5) approval of the budget of the corporation, both operating and capital; (6) authority and responsibility to approve any proposed project for the development of a new product and/or facility by the corporation; (7) authority to approve each incurrence of indebtedness of the corporation with a repayment term that is in excess of five (5) years and is secured by the assets of the corporation.”

“Asbury communities, inc., the sole member of asbury atlantic, inc., delegates review of the form 990 to its audit, finance, and investment committee (afic) which performed its review on 10/29/25. Additionally, the asbury communities, inc. And asbury atlantic, inc. Board of directors were forwarded a copy of the draft 990 for review and were provided a link to a recording of the afic meeting if members chose to listen to the meetings as they reviewed any of the form 990s. All directors may pose questions or ask for clarification from staff and the afic.”

“The asbury communities conflict of interest policy was approved by the board of directors. The compliance officer is responsible for the policy and oversees the implementation of the process. All the entities within the asbury communities system are subject to the policy. Annually, the compliance officer conducts a comprehensive conflict disclosure process covering all members of the governing boards, system-wide committees, and individuals in key management positions. Each person completes a conflict of interest disclosure form and is advised of their fiduciary obligations. The compliance officer, who has a direct reporting line to the chair of the governance and nominations committee and reports quarterly to the governance and nominations committee, analyzes all disclosure forms for potential conflicts, and prepares a report for the system-wide governance and nominations committee. A report was made to the board that there were no conflicts during 2024. When an actual or potential conflict of interest arises involving a board or committee member, the governance and nominations committee is informed and will follow specific protocol outlined in the conflict of interest policies and procedures.”

“The following process is used by asbury communities, inc., a related organization: on an annual basis, the compensation committee relies on staff feedback and the data and recommendations provided by an external compensation consultant to ascertain the reasonableness of compensation and benefits of all of the direct reports of the ceo and other potentially disqualified persons. In addition, the compensation committee reviews the organization's progress towards key performance indicators selected for incentivizing performance of disqualified persons through a performance based-compensation program. Quarterly, the compensation committee reviews updates to the overall benefits and compensation plan for the organization as well as progress on the organization's strategic goals. The compensation committee charter, the executive compensation philosophy, and the executive incentive plan were reviewed most recently in 2024.”

“The governing documents, conflict of interest policy, and audited financial statements are available upon request.”

“I. Organization overview asbury atlantic, inc., a 501(c)(3) not-for-profit maryland corporation, is the owner and operator of the following senior living communities: -asbury methodist village (gaithersburg, md) -asbury solomons (solomons, md) -bethany village (mechanicsburg, pa) -springhill (erie, pa) asbury atlantic is responsible for providing a full continuum of services at these communities, including independent living, assisted living, skilled nursing, memory support, and rehabilitation. In addition, bethany village is home to bethany towers, a hud-subsidized senior housing building with 149 affordable apartments. In 2024, bethany village offered bethany towers residents free access to its fitness center, group classes, and pool as part of its commitment to promoting wellness and social engagement. Asbury communities, inc., a not-for-profit maryland corporation, is the sole member and supporting organization of asbury atlantic. Asbury communities provides systemwide administrative, operational, and strategic support for a network of not-for-profit senior living and health service providers. The asbury system originated with asbury methodist village in 1926, founded as the methodist home for orphans and the aged. While no longer formally affiliated with the united methodist church, asbury continues to uphold the ethical and spiritual principles of its founding. The mission and values of the organization are expressed through its guiding principle: "doing all the good we can with integrity, transparency, and grace." ii. Program services provided section a. Benevolent care benevolent care is financial support provided to eligible residents who have exhausted their financial resources through no fault of their own and meet the approval criteria. This assistance helps cover partial monthly service fees, certain ancillary expenses, and certain third-party costs. In 2024, more than $7.0 million in annual funds and unrestricted gifts were contributed to support residents, including those who have outlived their resources. In 2024, benevolent care support was provided for 70 residents across asbury's continuing care retirement communities: -asbury methodist village $1,598,855 -asbury solomons $332,913 -bethany village $963,381 -normandie ridge $477,315 -riverwoods $158,979 -springhill $191,277 total: $3,722,720 section b. Unreimbursed medical services unreimbursed medical services represent the cost of care delivered in skilled nursing centers that exceed reimbursement provided by medicaid and other government payors. These unreimbursed costs reflect the organization's commitment to quality care regardless of a resident's ability to pay. Unreimbursed care costs for 2024 include: -asbury methodist village $2,506,365 -asbury solomons $588,027 -bethany village $582,128 -normandie ridge $868,236 -riverwoods $2,968,367 -springhill $735,967 total: $8,249,090 section c. Community benefit asbury atlantic is committed to enhancing the well-being of the broader community through partnerships, outreach, and the sharing of resources. Each campus fosters strong relationships with service organizations, educational institutions, and nonprofits to address local needs and expand the organization's mission beyond its campuses. Examples of 2024 community benefit activities include: -hosting internships, clinical rotations, and job shadowing to prepare the next generation of caregivers and aging services professionals. -leading energy-efficiency initiatives and environmental stewardship projects in support of the chesapeake bay and local ecosystems -supporting at-risk youth and families through local mentoring and advocacy programs -delivering and managing meals on wheels programs and engaging resident and associate volunteers in delivery routes -donating event space and meeting rooms to civic and nonprofit groups -donating medical equipment, food, and household items to individuals and organizations serving those in need -raising funds for nation”

“Net unrealized gain on change in market value of derivative instruments 439,439. Change in beneficial interest in net assets of foundation 1,993,018. Transfer to acomm -608,500. Change in value of obligations under charitable gift annuities -24,074.”

“There has been no change in oversight process from the prior year.”