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Nonprofiteer
← ASBURY FOUNDATION INC

Form 990 for tax year 2022

Filed by ASBURY FOUNDATION INC.

Totals

Total revenue
$17,996,340
Total expenses
$7,595,754
Contributions and grants received
$9,780,753
Grants paid
$5,109,345
Program service revenue
$0
Investment income
$1,826,556
Other revenue
$6,389,031
Total assets, end of year
$49,696,688
Total liabilities, end of year
$14,552,266
Net assets or fund balances, end of year
$35,144,422
Program services expenses (Part IX)
$5,987,840
Management and general expenses
$37,145
Fundraising expenses
$1,570,769
Program service expenses (Part III)
$5,987,840

Program services were 78.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $256,531

  • 1f · All other contributions, gifts and grants

    $9,524,222

  • 1g · Noncash contributions included above

    $3,971,907

  • 3 · Investment income

    total $915,125 · excluded $915,125

  • 7a · Gross sales of assets other than inventory

    securities $6,233,143

  • 7b · Less cost or other basis and sales expenses

    securities $5,321,712

  • 7c · Gain or loss

    securities $911,431

  • 7d · Net gain or loss

    total $911,431 · excluded $911,431

  • 8a · Fundraising events: gross income

    $18,648

  • 8a · Fundraising events: contributions included on line 1c

    $256,531

  • 8b · Fundraising events: direct expenses

    $45,087

  • 8c · Net income from fundraising events

    total -$26,439 · excluded -$26,439

  • 11a · Other revenue: FOUNDATION ALLOCATION

    total $6,415,470 · excluded $6,415,470

  • 11e · Other revenue, total

    $6,415,470

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,029,857 · program services $5,029,857

  • 2 · Grants to domestic individuals

    total $79,488 · program services $79,488

  • 11a · Fees: management

    total $22,087 · management and general $22,087

  • 11b · Fees: legal

    total $8,298 · management and general $8,298

  • 11c · Fees: accounting

    total $6,760 · management and general $6,760

  • 12 · Advertising and promotion

    total $2,447 · fundraising $2,447

  • 13 · Office expenses

    total $46,099 · fundraising $46,099

  • 14 · Information technology

    total $44,753 · fundraising $44,753

  • 17 · Travel

    total $26,099 · fundraising $26,099

  • 20 · Interest

    total $10,660 · fundraising $10,660

  • 22 · Depreciation, depletion and amortization

    total $15,364 · fundraising $15,364

  • 23 · Insurance

    total $552 · fundraising $552

  • 24a · Other expenses: TEMP RESTRICTION EXP.

    total $1,285,985 · fundraising $1,285,985

  • 24b · Other expenses: SPECIAL PROGRAMS

    total $878,495 · program services $878,495

  • 24c · Other expenses: BAD DEBT RECOVERY

    total $86,081 · fundraising $86,081

  • 24d · Other expenses: CONSULTING

    total $30,580 · fundraising $30,580

  • 24e · All other expenses

    total $22,149 · fundraising $22,149

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $79,364 · end of year $119,358

  • 3 · Pledges and grants receivable

    beginning of year $650,359 · end of year $807,667

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,485 · end of year $76,143

  • 10a · Land, buildings and equipment: cost or other basis

    $210,380

  • 10b · Land, buildings and equipment: accumulated depreciation

    $87,565

  • 10c · Land, buildings and equipment, net

    beginning of year $5,329 · end of year $122,815

  • 11 · Investments: publicly traded securities

    beginning of year $43,076,657 · end of year $37,884,356

  • 15 · Other assets

    beginning of year $9,097,942 · end of year $10,686,349

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,385 · end of year $169,841

  • 19 · Deferred revenue

    beginning of year $3,436,946 · end of year $3,754,831

  • 25 · Other liabilities

    beginning of year $18,653,269 · end of year $10,627,594

  • 28 · Net assets with donor restrictions

    beginning of year $30,854,536 · end of year $35,144,422

Mission and programs · 2022

Mission

SECURING CHARITABLE SUPPORT TO ENHANCE THE LIVES OF PERSONS SERVED BY ASBURY COMMUNITIES, INC. AND ITS SUPPORTED ORGANIZATIONS.

  • ASBURY FOUNDATION SUPPORTS THE OVERALL CHARITABLE ACTIVITIES OF ASBURY ATLANTIC, INC., ASBURY, INC., ALBRIGHT CARE SERVICES, ASBURY COMMUNITIES HCBS, 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 PROVIDES CONFIDENTIAL FINANCIAL ASSISTANCE TO SENIORS BEING SERVED BY ASBURY, WHO, THROUGH NO FAULT OF THEIR OWN, HAVE OUTLIVED THEIR RESOURCES. IN ADDITION TO BENEVOLENT CARE, ASBURY FOUNDATION RAISES FUNDS FOR OTHER PROGRAMS THAT ENHANCE THE LIVES OF ASBURY RESIDENTS AND ASSOCIATES.

    Expenses $5,987,840 · Grants $5,109,345

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carolyn Stamatakis

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • JD Shuman

    PRESIDENT/CEO/EX-OFFICIO

    Total calculated
    $413,719
    From this org
    $0
    From related orgs
    $394,915
    Other
    $18,804
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $296,614 related
    Bonus
    $0 + $59,752 related
    Other
    $0 + $38,549 related
    Deferred
    $0 + $5,038 related
    Nontaxable benefits
    $0 + $13,766 related
    Filer's total
    $0 + $413,719 related

  • Richard Stang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Corey Basehore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bud Edwards

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mary Anne Morefield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sara Tapiero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Linda Woodin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cynthia Mordaunt Rosborough

    DIRECTOR (UNTIL FEB 2022)

    Total calculated
    $0
    Hours/week
    2

  • Richard Dick Vert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Andrew Joseph

    SECRETARY

    Total calculated
    $392,364
    From this org
    $0
    From related orgs
    $365,377
    Other
    $26,987
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $308,588 related
    Bonus
    $0 + $55,444 related
    Other
    $0 + $1,345 related
    Deferred
    $0 + $10,469 related
    Nontaxable benefits
    $0 + $16,518 related
    Filer's total
    $0 + $392,364 related

  • Andrew Jeanneret

    TREASURER

    Total calculated
    $605,105
    From this org
    $0
    From related orgs
    $574,190
    Other
    $30,915
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $393,912 related
    Bonus
    $0 + $94,099 related
    Other
    $0 + $86,179 related
    Deferred
    $0 + $14,729 related
    Nontaxable benefits
    $0 + $16,186 related
    Filer's total
    $0 + $605,105 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE ORGANIZATION'S CEO AND ALL PERSONS DEEMED POTENTIALLY DISQUALIFIED IS REVIEWED AND RECOMMENDED TO THE FOUNDATION BOARD.
PART I, LINE 4B
THE PRESIDENT/CEO, TREASURER, AND SECRETARY PARTICIPATE IN A 457(F) PLAN. THE PRESIDENT/CEO AND TREASURER RECEIVED DISTRIBUTIONS OF $38,235 AND $84,438, RESPECTIVELY, IN 2022. THERE WERE NO OTHER PLAN DISTRIBUTIONS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • THE ASBURY GROUP INC

    C · TECH & SUPPORT SERVICES · DE

  • THRIVEWELL TECH LLC

    C · INFOR & CNSLT SVCS · DE

  • 5285 WESTVIEW DRIVE ONE LLC

    C · INFO. TECH. RESELLER AND IMPLEMENTATIN PARTNER · MD

    Directly controlled by THE ASBURY GROUP INC

  • 1569 TEELS ROAD LLC

    C · OPERATE A PERSONAL CARE HOME AND SENIOR LIVING COMMUNITY · PA

    Directly controlled by THE ASBURY GROUP INC

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202323179349301112

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