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Nonprofiteer
← ASBURY INC

Form 990 for tax year 2024

Filed by ASBURY INC.

Totals

Total revenue
$4,663,273
Total expenses
$0
Contributions and grants received
$4,663,273
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,205,468
Total liabilities, end of year
$3,691,095
Net assets or fund balances, end of year
-$2,485,627
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 1e · Government grants (contributions)

    $4,663,273

  • 7a · Gross sales of assets other than inventory

    other assets $7,500,000

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

    other assets $7,500,000

  • 7c · Gain or loss

    other assets $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,446,472 · end of year $1,205,468

  • 2 · Savings and temporary cash investments

    beginning of year $1,739,844

  • 4 · Accounts receivable

    beginning of year $1,075,620

  • 8 · Inventories for sale or use

    beginning of year $82,193

  • 9 · Prepaid expenses and deferred charges

    beginning of year $195,308

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $7,500,000

  • 12 · Investments: other securities

    beginning of year $391

  • 15 · Other assets

    beginning of year $630,745 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,693,991 · end of year $1,088,730

  • 19 · Deferred revenue

    beginning of year $29,565,597

  • 20 · Tax-exempt bond liabilities

    beginning of year $7,500,000

  • 25 · Other liabilities

    beginning of year $14,283,653 · end of year $2,602,365

  • 27 · Net assets without donor restrictions

    beginning of year -$38,609,784 · end of year -$2,485,627

  • 28 · Net assets with donor restrictions

    beginning of year $237,116 · end of year $0

Mission and programs · 2024

Mission

OUR MISSION IS EXPLORING POSSIBILITIES TO LIVE YOUR BEST LIFE BY DOING ALL THE GOOD WE CAN WITH INTEGRITY, TRANSPARENCY AND GRACE.

Activities or mission (Part I)

EXPLORING POSSIBILITIES TO LIVE YOUR BEST LIFE BY DOING ALL THE GOOD WE CAN WITH INTEGRITY

  • SUBSTANTIALLY ALL ASSETS OF ASBURY PLACE WERE SOLD ON JANUARY 1, 2024. OPERATIONS CEASED AFTER THE SALE. PRIOR TO THE SALE, ASBURY PLACE OPERATED SKILLED NURSING, RESIDENTIAL LIVING, AND ASSISTED LIVING FACILITIES.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nellie Ward Cole

    CHAIR/PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Vickie Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bob McCollum

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Doug Leidig

    DIRECTOR/ACOMM CEO

    Total calculated
    $1,411,192
    From this org
    $0
    From related orgs
    $1,372,281
    Other
    $38,911
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $685,159 related
    Bonus
    $0 + $610,601 related
    Other
    $0 + $76,521 related
    Deferred
    $0 + $10,346 related
    Nontaxable benefits
    $0 + $28,565 related
    Filer's total
    $0 + $1,411,192 related

  • Richard Shuman

    DIRECTOR

    Total calculated
    $6,600
    From this org
    $0
    From related orgs
    $6,600
    Other
    $0
    Hours/week
    2 + 4 related

  • Andrew Jeanneret

    TREASURER

    Total calculated
    $743,578
    From this org
    $0
    From related orgs
    $706,567
    Other
    $37,011
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $391,925 related
    Bonus
    $0 + $248,645 related
    Other
    $0 + $65,997 related
    Deferred
    $0 + $17,041 related
    Nontaxable benefits
    $0 + $19,970 related
    Filer's total
    $0 + $743,578 related

  • Andrew Joseph

    SECRETARY

    Total calculated
    $546,685
    From this org
    $0
    From related orgs
    $519,805
    Other
    $26,880
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $305,666 related
    Bonus
    $0 + $168,128 related
    Other
    $0 + $46,011 related
    Deferred
    $0 + $8,904 related
    Nontaxable benefits
    $0 + $17,976 related
    Filer's total
    $0 + $546,685 related

  • Melissa Fury

    ASST. SECRETARY

    Total calculated
    $334,555
    From this org
    $0
    From related orgs
    $322,952
    Other
    $11,603
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,136 related
    Bonus
    $0 + $49,533 related
    Other
    $0 + $9,283 related
    Deferred
    $0 + $3,360 related
    Nontaxable benefits
    $0 + $8,243 related
    Filer's total
    $0 + $334,555 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

  • 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 4B
NAME: DOUG LEIDIG, DESCRIPTION: DIRECTOR/ACOMM CEO, CURRENT YEAR AMOUNT: $56,846. PLAN DESCRIPTION: 457(F) NAME: ANDREW JEANNERET, DESCRIPTION: TREASURER, CURRENT YEAR AMOUNT: $63,217. PLAN DESCRIPTION: 457(F) NAME: ANDREW JOSEPH, DESCRIPTION: SECRETARY, CURRENT YEAR AMOUNT: $43,613. PLAN DESCRIPTION: 457(F)

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

No itemized grants to organizations 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 · INFO & CNSLT SERVICES · DE

    Directly controlled by THE ASBURY GROUP INC

  • 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

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • MCFARLIN ARTISAN LLC

    $7,500,000

    Disposition · REAL PROPERTY OF ASBURY PLACE MARYVILLE AND ASBURY PLACE KINGSPORT LOCATED IN TENNESSEE; PERSONAL PROPERTY CONSISTING OF FURNITURE AND EQUIPMENT, MOTOR VEHICLES, SUPPLIES, INVENTORY AND TRADEMARKS; INTELLECTUAL PROPERTY; AND ASSIGNED CONTRACTS AND RESIDENCY AGREEMENTS. · Jan 1, 2024 · C CORP

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202503169349307415

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