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 audit, finance, and investment committee (afic) which performed its review on 11/02/22. Additionally, the asbury communities, inc. And asbury foundation, inc. Board of directors were forwarded a copy of the draft 990 for review and was provided a link to a recording of the afic 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 the afic.”

“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 nominations committee and reports quarterly to the governance and nominations committee, analyzes all disclosure forms for potential conflicts, and prepares a report for the system-wide governance and nominations committee. A report was made to the board that there were no conflicts during 2021. When an actual or potential conflict of interest arises involving a board or committee member, the governance and nominations 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 foundation 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 2021 consolidated audited financial statements for asbury communities, inc. Had total revenues of $297 million and total assets in excess of $680 million.”

“Asbury foundation, inc., is a tax-exempt, 501(c)(3) charitable organization that supports the overall charitable activities of asbury atlantic, inc., asbury inc., asbury communities, inc., asbury communities hcbs, inc., and albright care services. Asbury foundation secures philanthropic gifts that support and enhance quality of life for older adults served by the asbury system through benevolent care, new programs and services that promote residents' well-being, and scholarships for asbury associates (employees). In 2021, philanthropic gifts to asbury foundation totaled more $11.7 million across the asbury system, including $3.58m in benevolent care; $1.98m in capital projects; more than $5 million in special programs benefitting those we serve, and more than $700,000 in associate scholarships. Asbury communities provides defined business, administrative, and operational support to a system of 501(c)(3) tax-exempt, not-for-profit supported organizations that provide residential living and health care services to the aged. Beyond residential housing for the aged, the supported organizations also provide assisted living, skilled nursing, long term care, pace (life) programming, rehabilitation, pharmacy, home health and home care services pursuant to their respective not-for-profit missions. The asbury communities system of senior living and health service providers originated with asbury methodist village (gaithersburg, md), which was originally established in 1926 as the methodist home for orphans and the aged. Although no longer formally affiliated with the united methodist church, asbury communities remains committed to the ethical principles and spirit of its faith-based heritage. These values are reflected in our mission and guiding principle of doing all the good we can with integrity, transparency, and grace. Asbury communities and asbury foundation are committed to fulfilling asbury's mission and to be a valued partner in the regions where they operate. We accomplish this in three primary ways: -providing a benevolent care program for eligible residents who outlive their resources through no fault of their own (see below, 2021 benevolent care) -providing funds for a wide range of projects across the asbury system, including capital prjoects and programs and services that benefit residents and associates -seeking grant opportunities to expand our services to those living at an asbury community or receiving services through another asbury program, such as albright life services. To date, asbury foundation has secured more than $700,000 in scholarships funds, with the majority directed toward career advancement in the nursing and healthcare fields. 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. Asbury foundation also conducts capital campaigns for renovations of buildings where resident services are provided. In 2021, asbury foundation released from restriction $1,055795 in capital support to help fund key projects at the communities in the asbury system. Section i: benevolent care - 2021 benevolent care is the payment by the organization of residents' fees, including monthly, and ancillary fees, and certain third-party expenses, for residents who have exhausted their assets and meet eligibility requirements for the program. Benevolent care is at the heart of asbury's guiding principle to do all the good we can with integrity, transparency, and grace. In 2021, more than $2.9 million in annual funds and unrestricted gifts were contributed to help meet immediate benevolent care needs for 64 residents of asbury communities: asbury methodist village $1,581,958 asbury place $50,101 asbury solomons $374,120 bethany village $616,471 normandie ridge $38,890 riverwoods $188,949 springhill $85,146 total $2,935,635”

“Change in value of deferred giving arrangements 633,802. Net assets released from restriction for purchase of capital items -1,047,868. Fundraising income/loss -57,161.”

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