Asbury Foundation 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 an employee of the foundation, two residents of bethany village, and two residents of asbury methodist village.”

“Only certain decisions of the governing body are subject to asbury communities 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 16th. 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 generally responsible for the policy process. All the entities within the asbury communities group 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 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 interested person will be prohibited from voting on the subject matter.”

“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 making decisions regarding compensation.the system wide compensation committee is composed of 5 voting members,the chief people officer (non-voting), a retained attorney (non-voting; record 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(jan, march, july, and nov). In the november meeting they review towers watson annual survey results and reports in order to make informed recommendations regarding salaries and benefits. This annual review also ensures compliance with irs intermediate sanctions requirements. The executive committee of the asbury foundation annually reviews the performance and sets the compensation of the president based upon recommendations of the system-wide compensation committee.”

“Financial statements are available for public viewing on the website. Governing documents and conflicts of interest policy are available upon request.”

“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 inverness village and asbury foundation, inc. As well as the other related organizations of asbury communities, inc. The 2013 consolidated audited financial statements for asbury communities, inc. Had total revenue of $173.6 million and total assets in excess of $562 million.”

“Other services: program service expenses 8,545. Management and general expenses 0. Fundraising expenses 6,839. Total expenses 15,384.”

“Minor equipment: program service expenses 0. Management and general expenses 0. Fundraising expenses 3,179. Total expenses 3,179.”

“Change in value of gift annuities -133,268. Released of restriction- capital -138,632.”

“The organization has not changed its oversight or selection process.”

“Line 24a transfers to (from) foundation $4,830,918 this is the allocation of unrestricted gifts & expenses to our individual communities in accordance with our charitable mission. Line 24b temporary restriction expense $217,443 release of temporarily restricted funds $281,736 (per audited financial statements) less $64,293 (fundraising expenses)= $217,643 line 24c special programs $74,029 expenses related to fundraising events for benevolent care, such as the caring classic gold tournament.”