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.”

“The sole member of asbury foundation, inc. Is asbury communities, inc., a non-profit, non-stock, maryland corporation.”

“Asbury communities, inc. , the sole member of asbury foundation, inc., delegates review of the form 990 to its governance and compliance committee which performed its review on 10/20/21. Additionally, asbury communities, inc. Board of directors was forwarded a copy of the draft 990 for review and was provided a link to a recording of the governance and compliance 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 governance and compliance 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 governance and compliance committee and reports quarterly to the governance and compliance committee, analyzes all disclosure forms for potential conflicts, and prepares a report for the system-wide governance and compliance committee. A report was made to the board that there were no conflicts during 2020. When an actual or potential conflict of interest arises involving a board or committee member, the governance and compliance committee is informed and will follow specific protocol outlined in the conflict of interest policies and procedures.”

“The foundation board executive committee reviews the organization's progress towards key performance indicators selected for incentivizing performance of disqualified persons through a performance based-compensation program. On an annual basis, the foundation board executive committee specifically reviews the compensation and benefits of the ceo using the data gathered by staff in order to support their decision making process regarding the ceo's compensation.”

“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 2,500 total employees in the asbury communities, inc. System. The 2020 consolidated audited financial statements for asbury communities, inc. Had total revenues of $297 million and total assets in excess of $680 million.”

“Asbury foundation supports the overall charitable activities of asbury atlantic, inc., and asbury communities, inc. Through its charitable fundraising efforts. Asbury foundation raises funds to help support the benevolent care program for the continuing care retirement communities (ccrc's) owned and operated by the supported entities and home care services within the asbury communities inc., system. The benevolent care program provides confidential financial assistance to seniors being served by asbury, who, through no fault of their own, have outlived their resources. 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 2020, asbury foundation provided $3,797,527 in benevolent care assistance to residents in the asbury communities, inc. System. Additionally, $11,542,136 was provided in unreimbursed services to those served in skilled nursing. The foundation raised $4,582,919 in 2020 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 2020, asbury foundation released from restriction $ 2,148,398 in support to help fund several projects. Of this total, approximately $2,026,534 relates to phase ii renovation and addition of a bistro and pub. $83,864 relates to various projects at asbury methodist village including pet activity and wellness (paws), and improvements to ebinger chapel. Approximately $38,000 was utilized for capital renovations at asbury solomons, including a labyrinth project and the addition of an electric vehicle charging station. In 2020, asbury foundation awarded $38,500.00 for scholarships for 19 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 deferred giving arrangements -498,395. Net assets released from restriction for purchase of capital items -3,030,379. Fundraising loss 33,831.”

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