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.”

“Asbury communities, inc. Is the sole member of asbury atlantic, inc., asbury-solomons, inc., inverness village, an oklahoma not for profit corporation, asbury, inc., bethany development corporation, and asbury hcbs, inc. Asbury communities, inc. Has a system wide audit committee. The asbury communities, inc. Board of directors has delegated a review of the form 990 to the system audit committee which performed their review on 10/21/20. The asbury communities, inc., foundation, asbury atlantic, asbury solomons, asbury communities hcbs, asbury, inc., bethany development corporation, and inverness village board of directors were forwarded a copy of their respective draft form 990 for their review and provided a link to a 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 staff and audit committee.”

“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 management positions. Each person completes a conflict of interest disclosure form and is advised of their fiduciary obligations. The compliance officer, who had a direct reporting line to the chair of the audit and compliance committee and reports quarterly to the audit and compliance committee, analyzes all disclosure forms for potential conflicts, and prepares a report for the system-wide audit and compliance committee. A report was made to the board that there were no conflicts during 2019. When an actual or potential conflict of interest arises involving a board or committee member, the audit and compliance committee is informed and will follow specific protocol outlined in the conflict of interest policies and procedures.”

“On an annual basis, the compensation and benefits 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 and benefits 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 the minutes of the management-lead to see updates to the overall benefits and compensation plan for the organization as well as progress on the organization's employer of choice strategic goals. Also on an annual basis, the compensation and benefits committee specifically reviews the compensation and benefits of the ceo using the data gathered by the compensation consultant at the direction of the committee and provides input to the full board of directors in order to support their decision making process regarding the ceo's compensation. The compensation and benefits committee charter, the executive compensation philosophy, and the executive incentive plan were reviewed most recently in 2019.”

“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 asbury foundation, inc. As well as the other related and supported organizations of asbury communities, inc. There are over 2,400 total employees in the asbury communities, inc. System. The 2019 consolidated audited financial statements for asbury communities, inc. Had total revenues of $244.0 million and total assets in excess of $584.9 million. During 2019, asbury communities, inc. Modified its employee compensation for pto. This change resulted in a one-time distribution that is reflected in the compensation reported on this form 990.”

“The benevolent care program enables seniors in need of financial support to live with peace of mind that they will not be discharged from an asbury community if they outlive their financial resources through no fault of their own. In 2019, asbury foundation provided $2,495,564 in benevolent care assistance to residents in the asbury communities, inc. System. Additionally, $5,242,652 was provided in unreimbursed services to those served in skilled nursing. The foundation raised $2,299,723 in 2019 to offset the cost of benevolent care and unreimbursed services provided to residents in need. Asbury foundation conducts capital campaigns for renovations of buildings where resident services are provided. In 2019, asbury foundation released from restriction $2,061,123 in capital support to help fund several projects. Of this total, approximately $1,783,000 relates to various projects at springhill including the new bernhard aquatic therapy center and the outdoor enhancement project. $25,000 relates to various projects at asbury methodist village including pet activity and wellness (paws), improvements to ebinger chapel, and lighting in the rosborough auditorium. Approximately $0250,500 was utilized for continued capital renovations at bethany village. $6,611 funded capital improvements at inverness village and $500 was spent on the rain garden at asbury solomons. In 2019, asbury foundation awarded $66,759 for scholarships for 41 asbury associates. The primary area of support was for associates pursuing careers in health care. These scholarships help address a national shortage in qualified applicants for careers in health care. The scholarships ease the financial burden working individuals face in specialized degrees often while supporting families. Scholarships are also awarded to associates pursuing careers outside of health care.”

“Change in value of gift annuities -257,500. Transfer of net assets due to de-consolidation of iv -501,154. Net assets released from restriction for purchase of capital items -2,061,123. Fundraising loss 34,022. Rounding -4.”

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