Asbury Atlantic Inc.

“The executive committee of the board of directors can act in place of the board between meetings. All members of the executive committee are members of the board of directors. We have reported ten independent voting members of the governing body. The non-independent board members consist of one employee of asbury communities, inc., and investment advisory to the asbury communities, inc. 401(k) plan, one resident of asbury solomons, inc., one resident of bethany village and one resident of asbury methodist village.”

“The organization has made significant changes to the organizational documents including that board members shall be elected for terms of 1 year.”

“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.”

“Asbury communities is the sole member of asbury atlantic inc., asbury solomons inc., inverness village, an oklahoma not for profit corporation and asbury communities hcbs, inc. Asbury communities has a system wide audit committee. The asbury communities board of directors has delegated a review of the form 990 to the system audit committee which performed their review on october 28th. The asbury communities, inc., foundation, asbury atlantic, asbury solomons, asbury communities hcbs, and inverness village board of directors were forwarded a copy of their respective draft form 990 for their review and provided a link to recording of the audit committee 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 the staff and audit committee.”

“The asbury communities conflict of interest policy was approved by the board of directors. The assistant general counsel 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 management positions. Each person completes a conflict disclosure form and is advised of their fiduciary obligations. The compliance officer, who had a direct reporting line to the chair of the audit committee and reports quarterly to the audit committee, analyzes all disclosure forms for potential conflicts, and prepares a report for the system-wide audit committee. A summary is then presented to the board of directors at the annual meeting. When a conflict of interest arises, the individual will be required to recuse him or herself from the board deliberations and vote.”

“The system wide compensation committee meets with the independent compensation consultant, and based on information provided to the committee makes recommendations regarding compensation and benefits to the executive committee which is charged by the full board with decisions regarding compensation. The independent compensation consultants and attorney as also present at the meeting of the executive committee at which the executive committee considers the recommendation of the compensation committee. At this meeting the executive committee receives all of the same information which was presented to the compensation committee and has the opportunity to ask questions and evaluate the materials. The full board(s) of asbury communities and asbury atlantic each receive a presentation once a year on executive compensation and benefits. The vice president of human resources is present to give board members an opportunity to ask questions and to provide salaries and grade levels for their review. The system wide compensation committee is composed of 5 voting members, the vice president of human resources (non-voting), a retained attorney (non-voting; records proceedings in minutes), and is advised by towers watson (a compensation consulting firm). The system wide compensation committee holds a minimum of 4 meetings each year. At the fall meeting they review towers watson data and reports in order to make recommendations regarding salaries and benefits. This annual review also ensures compliance with irs intermediate sanctions requirements. The executive committee ultimately reviews/approves/ and or adjusts recommendations from the system wide compensation committee and sets compensation. The process was last reviewed in 2014.”

“The governing documents are available in the resident libraries. The conflict of interest policy is available upon request. The audited financial statements are available for public viewing on our website.”

“The officers that have compensation from related organizations reported in part vii, section a, column e of the form 990 provide executive management support and overall guidance to asbury atlantic, inc. As well as the other related and supported organizations of asbury communities, inc. There are over 2,100 total employees in the asbury communities, inc. System. The 2014 consolidated audited financial statements for asbury communities, inc. Had total revenues of $179.2 million and total assets in excess of $568 million.”

“Beginning with year 2014, foundation associate salaries and benefits, which were previously reported on the asbury foundation irs form 990, will be reported by the asbury entity where they dedicated their time. Asbury foundation assists with the mission of the non profit entities within the asbury communities system.”

“As a not-for-profit organization, asbury atlantic, inc. Is committed to being a valued member of the community in the regions where it operates each year, our leaders, associates and residents work with community service organizations, health providers and foundations on programs identified as needed in the local community, comport with asbury's mission to "do all the good we can" and that focus on four areas in particular. These broad categories are: benevolent care, training the next generation of leaders in the senior services professions, working with and supporting other senior services organizations, and going green and sustainable. Asbury's atlantic's benefit work is focused on improving the lives of those who live in the communities in which the services are provided, regardless of whether the individuals live on or off an asbury campus. To achieve this goal asbury often works with other community organizations. Asbury works hard each year to expand its work in the community on meaningful ways that it can sustain and grow. Highlights of this year's community benefit accomplishments at each asbury atlantic community include the following: in the area of training future generations of caregivers, asbury methodist village(amv) provided mentoring in administrative and pastoral care services for graduate students at george washington, howard, kaplan, and loyola universities. Amv provided training for gerontology, nursing, rehabilitative care and social work undergraduate and graduate students at montgomery college, the university of maryland, as well as internships for several high schools. Amv donated meeting space for more than 30 non-profit, community organizations throughout the year, and hosted support groups for family members and other caregivers of people with alzheimer's disease. Asbury atlantic also hosts a senior wellness talk at an area church. The beloved community initiative, a resident created and run collaboration with the city of gaithersburg, in montgomery county, maryland, and supported by human and financial resources of asbury atlantic devoted hundreds of hours to mentoring area students, hosting parties at asbury's pool, and taking children to the national book festival in washington, d.c., where they met civil rights icon rep. John lewis and received his autographed graphic novel. For these efforts - and many more since its inception in 2011 - the gaithersburg beloved community initiative was honored as the 2014 leadingage hobart jackson cultural diversity award winner at leadingage national conference. Asbury atlantic supported meals on wheels and the montgomery county coalition for the homeless shelter with food preparation and strategic planning space. Amv associates collected school supplies and backpacks for 150 students that attend summit hall elementary school in gaithersburg. Asbury methodist village has saved approximately 500,000 kilowatt hours of energy since 2011 by replacing outdoor lights with long-lasting led bulbs. In the case of one community, this change allowed for the replacement of a gas-powered bucket truck with an electric cart, saving both gas and emissions. In the area of training the next generation of professionals, the following occurred. Provided training for certified nursing assistants, licensed practical nurses, human resources and social work students at harrisburg area community college, lancaster bible college, gannon, mercyhurst, pheonix university, kaplan, great lakes institute of technology, george washington, howard, loyola, penn state and shippensburg state universities. Provided board leadership for and served on work force task force for leadingage pennsylvania. Organized and raised approximately $5,000 for the area chapter of the alzheimer's association though a rock-a-thon and raised more than $3,500 for the association's walk to end alzheimer's. Hosted support groups for family members and other caregivers of people with alzheimer's disease. Bethany village”

“Net unrealized loss on change in market value of derivative instruments -4,879,183. Change in beneficial interest in net assets of asbury foundation, inc 1,535,287. Loss on retirement of debt -46,545. Change in value of obligations under charitable gift annuities 35,375. Transfer to acomm -3,088,631.”

“The proceeds of the series 2009b md bonds (cusip #363128cb3) issued by the city of gaithersburg (md) were allocated between 2 entities: asbury atlantic, inc. (ein 52-0607956) and asbury solomons, inc. (ein-52-1862675). The total proceeds from the issue of the series 2009b md bond is $43,806,989 (net of insurance discount of $13,011) and is allocated as follows: asbury atlantic, inc. $17,878,771 asbury solomons, inc. $25,928,218”