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Nonprofiteer
← ASBURY FOUNDATION INC

Form 990 for tax year 2023

Filed by ASBURY FOUNDATION INC.

Totals

Total revenue
$11,557,277
Total expenses
$12,293,098
Contributions and grants received
$10,147,869
Grants paid
$10,563,948
Program service revenue
$0
Investment income
$1,411,264
Other revenue
-$1,856
Total assets, end of year
$57,936,966
Total liabilities, end of year
$20,597,809
Net assets or fund balances, end of year
$37,339,157
Program services expenses (Part IX)
$10,863,942
Management and general expenses
$37,298
Fundraising expenses
$1,391,858
Program service expenses (Part III)
$10,863,942

Program services were 88.4% 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

    $282,655

  • 1f · All other contributions, gifts and grants

    $9,865,214

  • 1g · Noncash contributions included above

    $583,893

  • 3 · Investment income

    total $1,254,018 · excluded $1,254,018

  • 7a · Gross sales of assets other than inventory

    securities $1,896,075

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

    securities $1,738,829

  • 7c · Gain or loss

    securities $157,246

  • 7d · Net gain or loss

    total $157,246 · excluded $157,246

  • 8a · Fundraising events: gross income

    $47,960

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

    $282,655

  • 8b · Fundraising events: direct expenses

    $49,816

  • 8c · Net income from fundraising events

    total -$1,856 · excluded -$1,856

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,443,064 · program services $10,443,064

  • 2 · Grants to domestic individuals

    total $120,884 · program services $120,884

  • 11a · Fees: management

    total $21,486 · management and general $21,486

  • 11b · Fees: legal

    total $8,313 · management and general $8,313

  • 11c · Fees: accounting

    total $7,499 · management and general $7,499

  • 12 · Advertising and promotion

    total $19,175 · fundraising $19,175

  • 13 · Office expenses

    total $17,953 · fundraising $17,953

  • 14 · Information technology

    total $69,069 · fundraising $69,069

  • 17 · Travel

    total $26,816 · fundraising $26,816

  • 20 · Interest

    total $61,845 · fundraising $61,845

  • 22 · Depreciation, depletion and amortization

    total $21,069 · fundraising $21,069

  • 23 · Insurance

    total $1,062 · fundraising $1,062

  • 24a · Other expenses: TEMP RESTRICTION EXP.

    total $1,157,334 · fundraising $1,157,334

  • 24b · Other expenses: SPECIAL PROGRAMS

    total $299,994 · program services $299,994

  • 24c · Other expenses: BUSINESS MEALS

    total $7,566 · fundraising $7,566

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $4,965 · fundraising $4,965

  • 24e · All other expenses

    total $5,004 · fundraising $5,004

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $119,358 · end of year $99,380

  • 3 · Pledges and grants receivable

    beginning of year $807,667 · end of year $602,841

  • 9 · Prepaid expenses and deferred charges

    beginning of year $76,143 · end of year $45,335

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

    $210,380

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

    $108,634

  • 10c · Land, buildings and equipment, net

    beginning of year $122,815 · end of year $101,746

  • 11 · Investments: publicly traded securities

    beginning of year $37,884,356 · end of year $43,338,780

  • 15 · Other assets

    beginning of year $10,686,349 · end of year $13,748,884

  • 17 · Accounts payable and accrued expenses

    beginning of year $169,841 · end of year $47,796

  • 19 · Deferred revenue

    beginning of year $3,754,831 · end of year $3,635,787

  • 25 · Other liabilities

    beginning of year $10,627,594 · end of year $16,914,226

  • 28 · Net assets with donor restrictions

    beginning of year $35,144,422 · end of year $37,339,157

Mission and programs · 2023

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.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., 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. IN 2023, PHILANTHROPIC GIFTS TO ASBURY FOUNDATION TOTALED MORE THAN $10 MILLION ACROSS THE ASBURY SYSTEM, INCLUDING APPROXIMATELY $6.2M IN BENEVOLENT CARE; $1M IN CAPITAL PROJECTS; MORE THAN $2.3 MILLION IN SPECIAL PROGRAMS AND ENDOWMENT FUNDS BENEFITTING THOSE WE SERVE, AND MORE THAN $500,000 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, AND OTHER ANCILLARY 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, 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 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.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, 2023 BENEVOLENT CARE)-PROVIDING FUNDS FOR A WIDE RANGE OF PROJECTS ACROSS THE ASBURY SYSTEM, INCLUDING CAPITAL PROJECTS 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. 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. 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 2023, ASBURY FOUNDATION RELEASED FROM RESTRICTION $423,753 IN CAPITAL SUPPORT TO HELP FUND KEY PROJECTS AT THE COMMUNITIES IN THE ASBURY SYSTEM. SECTION I: BENEVOLENT CARE - 2023BENEVOLENT 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 $1,986,699ASBURY PLACE KINGSPORT $54,360ASBURY PLACE MARYVILLE $32,945ASBURY SOLOMONS $573,262BETHANY VILLAGE $719,300NORMANDIE RIDGE $465,135RIVERWOODS $165,161SPRINGHILL $216,366TOTAL $4,213,228

    Expenses $10,863,942 · Grants $10,563,948

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Douglas Leidig

    ACOMM PRESIDENT/CEO, EX-OFFICIO

    Total calculated
    $1,056,533
    From this org
    $0
    From related orgs
    $1,020,254
    Other
    $36,279
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $587,949 related
    Bonus
    $0 + $241,200 related
    Other
    $0 + $191,105 related
    Deferred
    $0 + $9,754 related
    Nontaxable benefits
    $0 + $26,525 related
    Filer's total
    $0 + $1,056,533 related

  • JD Shuman

    PRESIDENT/CEO/EX-OFFICIO

    Total calculated
    $444,341
    From this org
    $0
    From related orgs
    $421,053
    Other
    $23,288
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $294,459 related
    Bonus
    $0 + $90,524 related
    Other
    $0 + $36,070 related
    Deferred
    $0 + $7,761 related
    Nontaxable benefits
    $0 + $15,527 related
    Filer's total
    $0 + $444,341 related

  • Carolyn Stamatakis

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Loann Burian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Burke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mary Anne Morefield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Stang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sara Tapiero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Dick Vert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Linda Woodin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Andrew Jeanneret

    TREASURER

    Total calculated
    $616,862
    From this org
    $0
    From related orgs
    $580,618
    Other
    $36,244
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $392,590 related
    Bonus
    $0 + $135,322 related
    Other
    $0 + $52,706 related
    Deferred
    $0 + $17,730 related
    Nontaxable benefits
    $0 + $18,514 related
    Filer's total
    $0 + $616,862 related

  • Andrew Joseph

    SECRETARY

    Total calculated
    $470,018
    From this org
    $0
    From related orgs
    $441,003
    Other
    $29,015
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $307,669 related
    Bonus
    $0 + $84,064 related
    Other
    $0 + $49,270 related
    Deferred
    $0 + $12,270 related
    Nontaxable benefits
    $0 + $16,745 related
    Filer's total
    $0 + $470,018 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 ACOMM PRESIDENT/CEO, FOUNDATION PRESIDENT/CEO, TREASURER, AND SECRETARY PARTICIPATE IN A 457(F) PLAN AND RECEIVED DISTRIBUTIONS OF $171,430, $33,888, $50,895, AND $47,871, RESPECTIVELY, IN 2023. 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

    Directly controlled by ASBURY COMMUNITIES INC

  • THRIVEWELL TECH LLC

    C · INFOR & CNSLT SVCS · DE

    Directly controlled by THE ASBURY GROUP INC

  • 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
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202413119349300841

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