2024-11-06T09:23:32-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-01-01 620630670 ASBURY INC ASBU 8652388300 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 ANDREW JEANNERET TREASURER 8652388300 2024-11-04 1 0 JOHN NORMAN P01506766 7049985200 2024-11-04 2023 2024-10-15 13:58:12Z DOUG LEIDIG 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 28693797 0 X WWW.ASBURY.ORG X 1956 TN EXPLORING POSSIBILITIES TO LIVE YOUR BEST LIFE BY DOING ALL THE GOOD WE CAN WITH INTEGRITY 7 5 0 0 0 0 3411065 325017 27086081 27941431 -406912 417535 9132 8632 30099366 28692615 76293 87305 0 0 16156632 16402201 0 0 0 29499844 27797014 45732769 44286520 -15633403 -15593905 66660803 17670573 79445309 56043241 -12784506 -38372668 X OUR MISSION IS EXPLORING POSSIBILITIES TO LIVE YOUR BEST LIFE BY DOING ALL THE GOOD WE CAN WITH INTEGRITY, TRANSPARENCY AND GRACE. 0 0 18443443 0 13136171 SKILLED NURSING FACILITIES: OPERATION OF 2 SKILLED NURSING FACILITIES (SNF'S) FOR THE AGED WITH 186 TOTAL BEDS PROVIDING 40,435 DAYS OF SERVICE IN 2023. $2,026,736 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTS OF THE SNF IN 2023. 7376012 0 7862025 RESIDENTIAL LIVING FACILITIES: OPERATION OF 185 RESIDENTIAL LIVING UNITS FOR THE AGED, PROVIDING 57,455 DAYS OF SERVICE IN 2023. $169,867 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTIAL LIVING RESIDENTS DURING 2023. 6997625 87305 6943235 ASSISTED LIVING FACILITIES: OPERATION OF 2 ASSISTED LIVING FACILITIES FOR THE AGED WITH 166 TOTAL SUITES PROVIDING 39,776 RESIDENT DAYS IN 2023. $87,305 OF BENEVOLENT CARE AND $171,564 CONTRACTUAL ALLOWANCES WERE PROVIDED TO THE ASSISTED LIVING RESIDENTS IN 2023. 32817080 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 5 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X X ANDREW JEANNERET 3012502100 5285 WESTVIEW DRIVE FREDERICK MD 21703 NELLIE WARD COLE CHAIR/PRESIDENT 2.00 0.00 X X 0 0 0 DAVID ATKINSON VICE CHAIR 2.00 0.00 X X 0 0 0 VICKIE HARRIS DIRECTOR 2.00 0.00 X 0 0 0 BOB MCCOLLUM DIRECTOR 2.00 0.00 X 0 0 0 DOUG LEIDIG DIRECTOR 2.00 38.00 X 0 1020253 36279 RICHARD SHUMAN DIRECTOR 2.00 4.00 X 0 0 0 MARSHEINE MCCLURG DIRECTOR 2.00 0.00 X 0 0 0 ANDREW JEANNERET TREASURER 1.00 39.00 X 0 580617 36244 ANDREW JOSEPH SECRETARY 1.00 39.00 X 0 441003 29015 MELISSA FURY ASST. SECRETARY 40.00 0.00 X 0 310402 13046 KARRA FLETCHER ADMIN/DIR/MANAGER, AL 40.00 0.00 X 0 153598 5823 SUZANNE CLOYD DIRECTOR OF SALES 40.00 0.00 X 0 135984 12192 TAMMY PETER ADMIN/DIR/MANAGER/AL 40.00 0.00 X 0 115324 21655 0 2757181 154254 4 0 1 0 0 325017 325017 NET RESIDENT REVENUE 623000 17320641 17320641 MEDICARE/MEDICAID PAYMENTS 623000 8767739 8767739 AMORTIZATION OF ENTRANCE FEES 623000 1435313 1435313 OTHER OPERATING REVENUE 623000 417738 417738 27941431 417478 417478 9814 1182 8632 8632 8632 57 0 57 57 57 28692615 27941431 0 426167 X 87305 87305 13093449 11166810 1926639 302181 249568 52613 2056573 1628920 427653 949998 814502 135496 3238990 3238990 868625 868625 36200 36200 6127826 6127826 146139 146139 1161648 803126 358522 924042 19139 904903 1086092 1086092 145087 70962 74125 2247273 2247273 4060705 4046582 14123 1171954 1171954 REPAIRS & MAINTENANCE 1683198 1648147 35051 FOOD 1557698 1557698 TAXES-OTHER 1489925 65868 1424057 MEDICAL SUPPLIES AND PH 646588 646588 1205024 550674 654350 44286520 32817080 11469440 0 344078 6446472 5440257 1739844 1121235 1075620 229010 77171 82193 342604 195308 15538826 8038826 51996492 7500000 417 391 5480000 1629539 630745 66660803 17670573 3135242 4693991 28289962 29565597 38805355 7500000 9214750 14283653 79445309 56043241 X -13074993 -38609784 290487 237116 -12784506 -38372668 66660803 17670573 X -15593905 11 -9994268 X X 0 1 X 1 0 X 46869 57006 6515483 3411065 325017 10355440 32220965 36183002 31850097 27086081 27941431 155281576 32267834 36240008 38365580 30497146 28266448 165637016 10 1350 1177 1299 700 4536 0 10 1350 1177 1299 700 4536 165632480 590239 498811 348849 324876 427292 2190067 590239 498811 348849 324876 427292 2190067 32858073 36738819 38714429 30822022 28693740 167827083 0.98690 0.98710 0.01300 0.01290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 132111 -44423 87688 132111 132111 55696 76415 132111 53506 2190 55696 53391 115 53506 0.00000 1.00000 0.00000 1 0 171563 171563 12810869 6039870 6770999 360558 305596 54962 2195836 1693360 502476 7500000 RESIDENT DEPOSITS 177856 REFUNDABLE ENTRANCE FEES 1881069 LEASES PAYABLE 383166 DUE TO ACOMM, NET 11841562 14283653 X PART V, LINE 4: THE ENDOWMENT IS INTENDED TO SUPPORT BENEVOLENT CARE PROVIDED BY THE ORGANIZATION. PART X, LINE 2: ASBURY, INC. IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC); ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED AS THERE ARE NO UNRELATED TRADES OR BUSINESSES. THE COMPANY HAS IMPLEMENTED PROCESSES TO ENSURE COMPLIANCE WITH THE IRC INTERMEDIATE SANCTIONS PROVISIONS FOR ALL ITS SUPPORTED ORGANIZATIONS, INCLUDING THE COMPANY. THIS INCLUDES AN INDEPENDENT REVIEW BY THE BOARD'S COMPENSATION COMMITTEE OF ALL COMPENSATION ARRANGEMENTS WITH DISQUALIFIED PERSONS AND OUTSIDE COMPENSATION CONSULTANTS TO PROVIDE INDEPENDENT THIRD-PARTY REVIEW AND ADVISEMENT, AND THE IMPLEMENTATION OF A DETAILED CONFLICT-OF-INTEREST POLICY AND ANNUAL DISCLOSURE PROCESS FOR ALL DISQUALIFIED PERSONS. THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION MUST BE RECOGNIZED ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE RESOLUTION. THE COMPANY'S REASSESSMENT OF ITS TAX POSITIONS DID NOT HAVE A MATERIAL IMPACT ON THE COMPANY'S RESULTS OF OPERATIONS OR FINANCIAL POSITION. THE COMPANY'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. THE COMPANY IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. 1 BENEVOLENT CARE FOR ASSISTED LIVING RESIDENTS 2 87305 PART I, LINE 2: ALL RESIDENTS SEEKING BENEVOLENT CARE FINANCIAL SUPPORT MUST COMPLETE AN APPLICATION WHICH SHALL BE REVIEWED IN ACCORDANCE WITH BENEVOLENT CARE POLICIES AND PROCEDURES, WHICH MAY BE REVISED FROM TIME TO TIME. BENEVOLENT CARE SUPPORT IS DEPENDENT UPON MEETING SPECIFIC REQUIREMENTS AND THE ORGANIZATION'S ABILITY TO PROVIDE FINANCIAL AID. DOCUMENTS RELATED TO BENEVOLENT CARE APPLICATION/REDETERMINATION AND ON-GOING MANAGEMENT WILL BE MAINTAINED ON-SITE UNTIL THE END OF THE CALENDAR YEAR IN WHICH THE RESIDENT IS NO LONGER RECEIVING ASSISTANCE FROM BENEVOLENT CARE. THEREAFTER THE RECORDS WILL BE MAINTAINED FOR FIVE (5)YEARS, EITHER ON-SITE OR IN STORAGE IN ACCORDANCE WITH THE RECORDS MANAGEMENT PROGRAM. X X X X X X 0 1 0 0 0 0 0 0 0 DOUG LEIDIG DIRECTOR 0 587948 0 241200 0 191105 0 9754 0 26525 0 1056532 0 171430 ANDREW JEANNERET TREASURER 0 392589 0 135322 0 52706 0 17730 0 18514 0 616861 0 50895 ANDREW JOSEPH SECRETARY 0 307669 0 84064 0 49270 0 12270 0 16745 0 470018 0 47871 MELISSA FURY ASST. SECRETARY 0 260834 0 30500 0 19068 0 4595 0 8451 0 323448 0 0 KARRA FLETCHER ADMIN/DIR/MANAGER, AL 0 138404 0 15095 0 99 0 5823 0 0 0 159421 0 0 PART I, LINE 3 THE COMPENSATION OF THE ORGANIZATION'S CEO AND ALL PERSONS DEEMED POTENTIALLY DISQUALIFIED IS REVIEWED AND RECOMMENDED TO THE BOARD OF ASBURY COMMUNITIES, INC. BY THE COMPENSATION COMMITTEE OF THE BOARD. PART I, LINE 4B THE SECRETARY, TREASURER, AND DIRECTOR/ASBURY COMMUNITIES PRESIDENT (DOUG LEIDIG) PARTICIPATE IN A 457(F) PLAN AND RECEIVED DISTRIBUTIONS OF $47,871, $50,895 AND $171,430, RESPECTIVELY, IN 2023. THERE WERE NO OTHER PLAN DISTRIBUTIONS. A THE HEALTH AND EDUCATIONAL FACILITIES BOARD OF BLOUNT COUNTY TN 621192419 NONEAVAIL 2016-10-06 41170000 REVENUE REFUNDING AND IMPROVEMENT BONDS 0 0 0 B THE HEALTH AND EDUCATIONAL FACILITIES BOARD OF BLOUNT COUNTY TN 621192419 NONEAVAIL 2017-04-03 6236858 REVENUE REFUNDING BONDS SERIES 2016C 0 0 0 A 35175110 41170000 1870625 1701482 994464 30395752 6207677 2016 1 0 0 1 B 4731748 6236858 124737 6112121 2017 1 0 1 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 FORM 990,PART III ASBURY, INC., D/B/A ASBURY PLACE, IS THE NOT-FOR-PROFIT OWNER AND OPERATOR OF ASBURY PLACE MARYVILLE, ASBURY PLACE KINGSPORT, AND FOREST RIDGE MANOR. ASBURY, INC., IS THE LEGAL ENTITY RESPONSIBLE FOR PROVIDING SERVICES TO THE RESIDENTS OF THESE COMMUNITIES. IN 2013, ASBURY, INC. AFFILIATED WITH ASBURY COMMUNITIES, INC., A NOT-FOR-PROFIT SUPPORTING ORGANIZATION OF A SYSTEM OF SENIOR LIVING AND HEALTH SERVICE PROVIDERS, THAT INCLUDES ASBURY METHODIST VILLAGE, ASBURY PLACE KINGSPORT, ASBURY PLACE MARYVILLE, ASBURY SOLOMONS, BETHANY VILLAGE, CHANDLER ESTATE, NORMANDIE RIDGE, RIVERWOODS, AND SPRINGHILL. THE ASBURY COMMUNITIES SYSTEM OF SENIOR LIVING AND HEALTH SERVICE PROVIDERS ORIGINATED WITH ASBURY METHODIST VILLAGE, WHICH WAS ORIGINALLY ESTABLISHED IN 1926 AS THE METHODIST HOME FOR ORPHANS AND THE AGED. ASBURY, INCL. SHARES THIS METHODIST HERITAGE, HAVING BEEN FOUNDED IN 1956 BY THE HOLSTON CONFERENCE AS ASBURY ACRES HOME FOR THE AGED. ASBURY PLACE CONTINUES TO SHARE A COVENANT OF FAITH AND VALUES WITH THE METHODIST CHURCH. WHILE ASBURY COMMUNITIES IS NO LONGER FORMALLY AFFILIATED WITH THE UNITED METHODIST CHURCH, IT REMAINS COMMITTED TO THE ETHICAL PRINCIPLES AND SPIRIT OF ITS HISTORICAL ROOTS. WE CARRY THOSE VALUES FORWARD IN OUR MISSION AND OUR GUIDING PRINCIPLE OF DOING ALL THE GOOD WE CAN WITH INTEGRITY, TRANSPARENCY, AND GRACE. THE COMMUNITIES WITHIN ASBURY PLACE ARE COMMITTED TO FULFILLING ASBURY'S MISSION FOR THOSE WE SERVE AND TO BE A VALUED PARTNER IN THE REGIONS WHERE THEY OPERATE. EACH YEAR, OUR LEADERS AND ASSOCIATES WORK WITH SERVICE ORGANIZATIONS, HEALTH PROVIDERS AND FOUNDATIONS THAT ADDRESS THE NEEDS OF THE GREATER COMMUNITY. 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, 2023 BENEVOLENT CARE); -PROVIDING UNREIMBURSED MEDICAL SERVICES ABOVE MEDICAID CONTRACTED PAYMENT RATES FOR RESIDENTS RECEIVING SERVICES AT ASBURY'S SKILLED NURSING CENTERS (SEE BELOW, 2023 UNREIMBURSED SERVICES); AND, -SUPPORTING AND PARTNERING WITH NUMEROUS CHARITABLE AND COMMUNITY ORGANIZATIONS AND PROVIDING INTERNSHIP AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR A WIDE RANGE EDUCATIONAL INSTITUTIONS AND AGING SERVICES AND HEALTH PROVIDERS, (SEE SECTION, COMMUNITY BENEFIT). IN ADDITION, ASBURY, INC., IS THE SOLE MEMBER OF FOREST RIDGE MANOR, WITH 38 HUD AFFORDABLE SENIOR HOUSING APARTMENTS. ASBURY FOUNDATION THE ASBURY FOUNDATION, A NOT-FOR-PROFIT ORGANIZATION, SECURES PHILANTHROPIC GIFTS TO 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. ASBURY FOUNDATION HAS SECURED MORE THAN $500,000 IN SCHOLARSHIPS FUNDS, WITH MANY OF THOSE DOLLARS GOING TOWARD CAREER ADVANCEMENT IN THE NURSING AND HEALTHCARE FIELDS. SECTION I: BENEVOLENT CARE - 2023 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 2023, MORE THAN $6.2 MILLION IN ANNUAL FUNDS AND UNRESTRICTED GIFTS WERE CONTRIBUTED TO HELP MEET IMMEDIATE BENEVOLENT CARE NEEDS FOR 88 COMMUNITY LIVING RESIDENTS: ASBURY METHODIST VILLAGE $1,986,699 ASBURY PLACE KINGSPORT $54,360 ASBURY PLACE MARYVILLE $32,945 ASBURY SOLOMONS $573,262 BETHANY VILLAGE $719,300 NORMANDIE RIDGE $465,135 RIVERWOODS $165,161 SPRINGHILL $216,366 TOTAL $4,213,228 SECTION II: UNREIMBURSED MEDICAL SERVICES UNREIMBURSED MEDICAL SERVICES ARE THE TOTAL COST AND EXPENSES INCURRED IN THE PROVISION OF CARE TO RESIDENTS OF ASBURY'S SKILLED NURSING CENTERS THAT EXCEED THE REIMBURSEMENT PROVIDED BY CERTAIN PAYOR SOURCES, INCLUDING MEDICAID (MEDICAL ASSISTANCE). ASBURY METHODIST VILLAGE $3,786,537 ASBURY PLACE KINGSPORT $0.00 ASBURY PLACE MARYVILLE $341,109 ASBURY SOLOMONS $581,797 BETHANY VILLAGE $628,342 NORMANDIE RIDGE $891,790 RIVERWOODS $2,753,293 SPRINGHILL $459,458 TOTAL $9,442,326 SECTION III: COMMUNITY BENEFIT AS A NOT-FOR-PROFIT ORGANIZATION, ASBURY PLACE, IS COMMITTED TO PROVIDING BENEFIT TO THE REGIONS WHERE WE OPERATE BY PARTNERING WITH ORGANIZATIONS AND INSTITUTIONS THAT PROVIDE NEEDED SERVICES TO OTHERS OR ADDRESS UNMET NEEDS. EXAMPLES OF OUR COMMUNITIES' LOCAL PRESENCE ARE WIDE RANGING. SOME CATEGORIES INCLUDE: -TRAINING THE NEXT GENERATION OF CAREGIVERS AND AGING SERVICES PROFESSIONALS AND LEADERS THROUGH INTERNSHIPS AND PROFESSIONAL DEVELOPMENT PROGRAMS -DONATING SPACE AT OUR COMMUNITIES FOR LOCAL CIVIC ORGANIZATIONS -DONATING DURABLE MEDICAL EQUIPMENT OR OTHER SUPPLIES AND FOOD AND OTHER ITEMS THAT SUPPORT UNDERSERVED PEOPLE -FUNDRAISING FOR AGING-RELATED ORGANIZATIONS SUCH AS ALZHEIMER'S ASSOCIATION AS WELL AS LOCAL CHARITABLE ORGANIZATIONS SUCH AS HOMELESS SHELTERS AND FOOD KITCHENS -PROVIDING EDUCATIONAL PRESENTATIONS ON TOPICS BENEFICIAL TO SENIORS AND FAMILY MEMBERS -PROVIDING PEER-TO-PEER PRESENTATIONS ON INNOVATIONS IN SENIOR WELLNESS AND TECHNOLOGY -FOSTERING ENVIRONMENTAL SUSTAINABILITY THROUGH ENERGY-USE REDUCTION PROGRAMS AND PROJECTS THAT HELP PROTECT THE CHESAPEAKE BAY AND LOCAL WATERSHEDS -SEEKING OPPORTUNITIES TO TAKE OUR SERVICES TO AT-RISK SENIORS WHO DO NOT LIVE AT OUR COMMUNITIES THROUGH GRANTS AND PARTNERSHIPS WITH PEER ORGANIZATIONS -SUPPORTING AT-RISK YOUTH AND FAMILIES THROUGH A MENTORING AND ADVOCACY PROGRAM WITH LOCAL GOVERNMENT AND SCHOOLS -PROVIDING MEALS ON WHEELS MEALS AND PROGRAM MANAGEMENT, AS WELL AS VOLUNTEERING FOR MEAL DELIVERY FORM 990, PART VI, SECTION A, LINE 1A 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. FORM 990, PART VI, SECTION A, LINE 6 ASBURY COMMUNITIES IS THE SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A ASBURY COMMUNITIES, INC. IS THE SOLE MEMBER OF ASBURY, INC. FORM 990, PART VI, SECTION A, LINE 7B 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; (5) THE OPERATING AND CAPITAL BUDGET OF THE COMPANY. FORM 990, PART VI, SECTION B, LINE 11B ASBURY COMMUNITIES, INC., THE SOLE MEMBER OF ASBURY, INC., DELEGATES REVIEW OF THE FORM 990 TO ITS AUDIT, FINANCE, AND INVESTMENT COMMITTEE (AFIC) WHICH PERFORMED ITS REVIEW ON 10/23/24. ADDITIONALLY, THE ASBURY COMMUNITIES, INC. AND ASBURY, INC. BOARD OF DIRECTORS WERE FORWARDED A COPY OF THE DRAFT 990 FOR REVIEW AND WERE 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. FORM 990, PART VI, SECTION B, LINE 12C 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 KEY MANAGEMENT POSITIONS. EACH PERSON COMPLETES A CONFLICT OF INTEREST DISCLOSURE FORM AND IS ADVISED OF THEIR FIDUCIARY OBLIGATIONS. THE COMPLIANCE OFFICER, WHO HAS 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 GOVERNANCE AND COMPLIANCE COMMITTEE. A REPORT WAS MADE TO THE BOARD THAT THERE WERE NO CONFLICTS DURING 2023. 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 PROTOCAL OUTLINED IN THE CONFLICT OF INTEREST POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, THE COMPENSATION 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 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 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 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 COMMITTEE CHARTER, THE EXECUTIVE COMPENSATION PHILOSOPHY, AND THE EXECUTIVE INCENTIVE PLAN WERE REVIEWED MOST RECENTLY IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANT/CONTRACT LABOR: PROGRAM SERVICE EXPENSES 6,127,826. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,127,826. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF ASBURY FOUNDATION -53,371. LOSS ON DISCONTINUED OPERATIONS -9,935,772. CHANGE IN MARKET VALUE OF DERIVATIVE INSTRUMENTS -5,125. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN OVERSIGHT PROCESS FROM THE PRIOR YEAR. FORM 990, PART VII, SECTION A BEGINNING WITH YEAR 2014, FOUNDATION ASSOCIATE SALARIES AND BENEFITS, WHICH WERE PREVIOUSLY REPORTED ON THE ASBURY FOUNDATION IRS FORM 990, HAVE BEEN 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. ASBURY ATLANTIC INC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 520607956 HOUSING AND HEALTHCARE FOR OLDER ADULTS MD 501(C)(3) LINE 10 ASBURY COMMUNITIES INC 0 ASBURY FOUNDATION INC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 521862674 RAISING FUNDS FOR CHARITY CARE MD 501(C)(3) LINE 7 ASBURY COMMUNITIES INC 0 AFFILIATED ASSOCIATES INC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 510426078 EMPLOYEE PAYMASTER COMPANY MD 501(C)(3) LINE 12C, III-FI ASBURY COMMUNITIES INC 0 ASBURY COMMUNITIES HCBS INC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 450634490 HOME CARE FOR OLDER ADULTS MD 501(C)(3) LINE 10 ASBURY COMMUNITIES INC 0 ASBURY COMMUNITIES INC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 521862677 SUPPORT SERVICES MD 501(C)(3) LINE 12C, III-FI 0 BETHANY DEVELOPMENT CORPORATION 335 WESLEY DRIVE MECHANICSBURG PA 17055 232078064 HOUSING FOR OLDER ADULTS PA 501(C)(3) LINE 10 ASBURY COMMUNITIES INC 0 ALBRIGHT CARE SERVICES 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 231887138 HOUSING, HEALTHCARE, AND AT-HOME SERVICES FOR OLDER ADULTS PA 501(C)(3) LINE 10 ASBURY COMMUNITIES INC 0 WARRIOR RUN MANOR 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 232137458 HOUSING FOR OLDER ADULTS PA 501(C)(3) LINE 10 ALBRIGHT CARE SERVICES 0 FOREST RIDGE MANOR 910 WILDER CHAPEL LANE MARYVILLE TN 37804 201885811 HOUSING FOR OLDER ADULTS TN 501(C)(3) LINE 12A, I ASBURY INC 0 ASBURY LIVING INC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 933545102 HOUSING FOR OLDER ADULTS PA 501(C)(3) LINE 10 ASBURY COMMUNITIES INC 0 THE ASBURY GROUP INC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 205038820 TECH & SUPPORT SERVICES DE ASBURY COMMUNITIES INC C 0 THRIVEWELL TECH LLC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 262896175 INFO & CNSLT SERVICES DE THE ASBURY GROUP INC C 0 5285 WESTVIEW DRIVE ONE LLC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 881212545 INFO. TECH. RESELLER AND IMPLEMENTATION PARTNER MD THE ASBURY GROUP INC C 0 1569 TEELS ROAD LLC 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 871564257 OPERATE A PERSONAL CARE HOME AND SENIOR LIVING COMMUNITY PA THE ASBURY GROUP INC C 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0