Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $4,096,137

• 1e · Government grants (contributions)

  $4,092,898

• 2a · Program service revenue: NET RESIDENT REVENUE

  total $111,153,490 · related or exempt $111,153,490

• 2b · Program service revenue: MEDICARE/MEDICAID PAYMENTS

  total $29,386,720 · related or exempt $29,386,720

• 2c · Program service revenue: AMORTIZATION OF ENTRANCE FEES

  total $26,658,335 · related or exempt $26,658,335

• 2d · Program service revenue: OTHER OPERATING REVENUE

  total $2,804,783 · related or exempt $2,804,783

• 3 · Investment income

  total $2,351,531 · excluded $2,351,531

• 6a · Gross rents

  real property $214,054

• 6b · Less rental expenses

  real property $62,076

• 6c · Rental income or loss

  real property $151,978

• 6d · Net rental income or loss

  total $151,978 · excluded $151,978

• 7a · Gross sales of assets other than inventory

  securities $56,629,102 · other assets $634,151

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

  securities $59,342,623 · other assets $0

• 7c · Gain or loss

  securities -$2,713,521 · other assets $634,151

• 7d · Net gain or loss

  total -$2,079,370 · excluded -$2,079,370

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,036,269 · program services $3,036,269

• 7 · Other salaries and wages

  total $57,316,525 · program services $47,425,575 · management and general $9,317,785 · fundraising $573,165

• 8 · Pension plan contributions

  total $1,988,919 · program services $1,629,394 · management and general $339,636 · fundraising $19,889

• 9 · Other employee benefits

  total $5,170,914 · program services $3,461,744 · management and general $1,709,170

• 10 · Payroll taxes

  total $4,301,551 · program services $3,600,800 · management and general $657,735 · fundraising $43,016

• 11a · Fees: management

  total $14,777,180 · management and general $14,777,180

• 11b · Fees: legal

  total $414,421 · management and general $414,421

• 11c · Fees: accounting

  total $135,402 · management and general $135,402

• 11g · Fees: other

  total $11,197,295 · program services $10,961,568 · management and general $235,727

• 12 · Advertising and promotion

  total $821,612 · management and general $821,612

• 13 · Office expenses

  total $4,690,848 · program services $2,864,706 · management and general $1,826,142

• 14 · Information technology

  total $3,228,156 · program services $51,077 · management and general $3,177,079

• 16 · Occupancy

  total $6,223,555 · program services $6,223,555

• 17 · Travel

  total $144,173 · program services $70,708 · management and general $73,465

• 20 · Interest

  total $9,613,615 · program services $9,604,045 · management and general $9,570

• 22 · Depreciation, depletion and amortization

  total $27,999,120 · program services $27,889,140 · management and general $109,980

• 23 · Insurance

  total $1,818,156 · management and general $1,818,156

• 24a · Other expenses: FOUNDATION ALLOCATION

  total $6,415,470 · program services $6,415,470

• 24b · Other expenses: FOOD

  total $6,055,992 · program services $6,053,304 · management and general $2,688

• 24c · Other expenses: REPAIRS & MAINTENANCE

  total $6,034,312 · program services $5,901,215 · management and general $133,097

• 24d · Other expenses: TAXES(PROPERTY & OTHER)

  total $4,151,967 · program services $7,564 · management and general $4,144,403

• 24e · All other expenses

  total $4,391,704 · program services $3,676,366 · management and general $715,338

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,606,086 · end of year $5,090,313

• 2 · Savings and temporary cash investments

  beginning of year $47,235,447 · end of year $76,228,224

• 4 · Accounts receivable

  beginning of year $4,825,118 · end of year $5,134,419

• 7 · Other notes and loans receivable

  beginning of year $4,148,976 · end of year $3,913,898

• 8 · Inventories for sale or use

  beginning of year $264,691 · end of year $270,268

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,987,249 · end of year $3,319,278

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

  $652,441,905

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

  $387,268,902

• 10c · Land, buildings and equipment, net

  beginning of year $271,985,848 · end of year $265,173,003

• 11 · Investments: publicly traded securities

  beginning of year $50,014,236 · end of year $53,408,396

• 15 · Other assets

  beginning of year $118,027,949 · end of year $114,665,056

• 17 · Accounts payable and accrued expenses

  beginning of year $6,051,158 · end of year $9,032,855

• 19 · Deferred revenue

  beginning of year $169,394,621 · end of year $179,500,566

• 20 · Tax-exempt bond liabilities

  beginning of year $215,793,418 · end of year $248,179,033

• 21 · Escrow or custodial account liability

  beginning of year $38,282 · end of year $42,552

• 25 · Other liabilities

  beginning of year $178,563,682 · end of year $167,398,814

• 27 · Net assets without donor restrictions

  beginning of year -$106,046,258 · end of year -$117,359,189

• 28 · Net assets with donor restrictions

  beginning of year $37,300,697 · end of year $40,408,224

The filer's explanations (Part III)

PART I, LINE 3

THE COMPENSATION COMMITTEE ANNUALLY REVIEWS THE COMPENSATION OF ALL DISQUALIFIED PERSONS. TO SUPPORT ITS REVIEW, THE COMPENSATION COMMITTEE ENGAGES AN INDEPENDENT COMPENSATION CONSULTANT AND UTILIZES INDUSTRY COMPARABLE COMPENSATION SURVEY DATA.

PART I, LINE 4B

THE FOUNDATION PRESIDENT, TREASURER AND SECRETARY PARTICIPATE IN A 457(F) PLAN. THE FOUNDATION PRESIDENT AND TREASURER RECEIVED DISTRIBUTIONS OF $38,235 AND $84,438, RESPECTIVELY, IN 2022. THERE WERE NO OTHER PLAN DISTRIBUTIONS.

PART I, LINE 6

THE EXECUTIVE DIRECTOR'S INCENTIVE COMPENSATION IS BASED IN PART UPON THE OPERATING RATIO FROM THE CONSOLIDATED ASBURY COMMUNITIES, INC. FINANCIAL STATEMENTS. THE OPERATING RATIO MEASURES WHETHER CURRENT YEAR CASH OPERATING REVENUES ARE SUFFICIENT TO COVER CURRENT YEAR OPERATING EXPENSES.

FORM 990, PART VII, SECTION A

THE ORGANIZATION DOES NOT ADMINISTER ANY W-2S. ALL W-2S ARE FILED UNDER THE EIN OF AFFILIATED ASSOCIATES, INC., A RELATED PARTY 501(C)(3) ORGANIZATION CREATED TO SUPPORT THE TAX EXEMPT FUNCTIONS OF ASBURY COMMUNITIES AND AFFILIATES BY ADMINISTERING PAYROLL FUNDS. THE COMPENSATION REPORTED ON PART VII AND PART IX REFLECTS THE COMPENSATION PAID BY ASBURY ATLANTIC, INC. FOR THOSE ASSOCIATES DIRECTLY ALLOCATED TO ASBURY ATLANTIC, INC. PURSUANT TO AN EMPLOYEE LEASE AGREEMENT. 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 ATLANTIC, INC. AS WELL AS THE OTHER RELATED AND SUPPORTED ORGANIZATIONS OF ASBURY COMMUNITIES, INC. THERE ARE OVER 2,300 TOTAL EMPLOYEES IN THE ASBURY COMMUNITIES, INC. SYSTEM. THE 2022 CONSOLIDATED AUDITED FINANCIAL STATEMENTS FOR ASBURY COMMUNITIES, INC. HAD TOTAL REVENUES IN EXCESS OF OF $249 MILLION AND TOTAL ASSETS IN EXCESS OF $673 MILLION.

Related corporations and trusts

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

• THE ASBURY GROUP INC

  C · TECHNOLOGY & SUPPORT SERVICES · DE

  Directly controlled by ASBURY COMMUNITIES INC

• THRIVEWELL TECH LLC

  C · INFOR & CNSLT SVCS · DE

  Directly controlled by ASBURY COMMUNITIES INC

• IVA INC

  C · HOLDS LIQOUR LICENSES · OK · 100% owned · controlled entity

  Directly controlled by ASBURY ATLANTIC

• 5285 WESTVIEW DRIVE ONE LLC

  C · INFO. TECH. RESELLER AND IMPLEMENTATION 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