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 seven 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 in the bylaws changes to the role of the advisory committee known as the board of governors.”

“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 20, 2016. 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 full board(s) of asbury communities and asbury atlantic/asbury solomons each receive a presentation once a year on executive compensation and benefits. The president of each corporation 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 2015.”

“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 2,300 total employees in the asbury communities, inc. System. The 2015 consolidated audited financial statements for asbury communities, inc. Had total revenues of $196.1 million and total assets in excess of $565 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 part of asbury communities, asbury atlantic pledges each day to make a difference in the lives of those we serve and to serve as a partner for good in the community at large. We honor our legacy through supporting and partnering with charitable and community organizations, educational institutions, and aging services and health providers. At asbury atlantic, our contributions are primarily focused on: - supporting senior wellness in the regions where we operate; and - training the next generation of aging services professionals. Providing peace of mind for residents - benevolent care a cornerstone of living our mission is ensuring that residents who outlive their financial resources can remain in their home at asbury. The asbury foundation, a 501(c)(3) not-for-profit organization that secures philanthropic support to support the mission and enhance quality of life for older adults served by the asbury system, was established to support these efforts. Asbury provides financial support to residents who outlive their resources through no fault of their own. Highlights of this year's community benefit accomplishments at each asbury atlantic community include the following: asbury methodist village in the area of training future generations of caregivers, asbury methodist village(amv) provided mentoring and training in administrative, social work and pastoral care services for students at georgetown, howard, montgomery college, loyola, salisbury, and the university of maryland. Amv donated meeting space for more than 20 non-profit, community organizations throughout the year. Though the majority of this group's efforts benefit youth, this resident-created and run collaboration with gaithersburg and montgomery county(gaithersburg beloved community initiative) devoted hundreds of hours to mentoring area at risk children, hosting parties at asbury's pool and other structured fitness activities. This intergenerational mentoring program is focused on the development of character in the young people. Asbury methodist village hosted a conversational english group with 12 latino mothers from the gaithersburg area whereby they met weekly to study their english with asbury residents. 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 students that attend summit hall elementary school in gaithersburg. Collected enough to fill 150 backpacks. Asbury methodist village donated the use of the amv campus for a 5k run benefitting the widow care organization. Bethany village in the area of training the next generation of professionals, the following occurred. Provided training for certified nursing assistants, licensed practical nurses, registered nurses, human resources, social work and healthcare management students at harrisburg area community college, messiah college and penn state and shippensburg state universities. Organized and raised approximately $5,000 for the area chapter of the alzheimer's association though a rock-a-thon and donated $2,000 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 donated meeting space for more than 10 non-profit, community organizations throughout the year. In conjunction with volunteers of america, bethany village associates collected, stored and arranged for pick-up of donated clothing. Bethany village hosted a food drive to collect food and monetary gifts to benefit the underprivileged served by new hope ministries. Bethany village donated $500 in addition to donations from staff and residents. A bethany village associate volunteered at new hope ministries food pantry throughout the year. Bethany village organized a group of nine associate volunteers assisted other community volunteers in complete renovation of boy's cottage through demolition, constr”

“Net unrealized loss on change in market value of derivative instruments -267,039. Change in beneficial interest in net assets of asbury foundation, inc 1,185,327. Change in value of obligations under charitable gift annuities 7,402. Transfer to acomm -2,908,165.”