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← ASBURY FOUNDATION INC

Form 990 for tax year 2024

Filed by ASBURY FOUNDATION INC.

Totals

Total revenue
$12,120,322
Total expenses
$11,774,042
Contributions and grants received
$9,313,682
Grants paid
$9,094,816
Program service revenue
$0
Investment income
$2,908,403
Other revenue
-$101,763
Total assets, end of year
$60,878,176
Total liabilities, end of year
$22,460,053
Net assets or fund balances, end of year
$38,418,123
Program services expenses (Part IX)
$9,614,059
Management and general expenses
$12,162
Fundraising expenses
$2,147,821
Program service expenses (Part III)
$9,614,059

Program services were 81.7% 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

    $229,846

  • 1e · Government grants (contributions)

    $354,117

  • 1f · All other contributions, gifts and grants

    $8,729,719

  • 1g · Noncash contributions included above

    $1,365,746

  • 3 · Investment income

    total $1,135,730 · excluded $1,135,730

  • 6a · Gross rents

    real property $1,694

  • 6b · Less rental expenses

    real property $83,313

  • 6c · Rental income or loss

    real property -$81,619

  • 6d · Net rental income or loss

    total -$81,619 · excluded -$81,619

  • 7a · Gross sales of assets other than inventory

    securities $12,619,567

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

    securities $10,846,894

  • 7c · Gain or loss

    securities $1,772,673

  • 7d · Net gain or loss

    total $1,772,673 · excluded $1,772,673

  • 8a · Fundraising events: gross income

    $28,000

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

    $229,846

  • 8b · Fundraising events: direct expenses

    $48,144

  • 8c · Net income from fundraising events

    total -$20,144 · excluded -$20,144

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,913,802 · program services $8,913,802

  • 2 · Grants to domestic individuals

    total $181,014 · program services $181,014

  • 11a · Fees: management

    total $2,810 · program services $2,182 · management and general $628

  • 11b · Fees: legal

    total $3,282 · management and general $3,282

  • 11c · Fees: accounting

    total $8,252 · management and general $8,252

  • 12 · Advertising and promotion

    total $13,302 · fundraising $13,302

  • 13 · Office expenses

    total $27,522 · fundraising $27,522

  • 14 · Information technology

    total $82,061 · fundraising $82,061

  • 17 · Travel

    total $37,077 · fundraising $37,077

  • 20 · Interest

    total $258,442 · fundraising $258,442

  • 22 · Depreciation, depletion and amortization

    total $21,069 · fundraising $21,069

  • 23 · Insurance

    total $2,070 · fundraising $2,070

  • 24a · Other expenses: TEMP RESTRICTION EXP.

    total $1,675,911 · fundraising $1,675,911

  • 24b · Other expenses: SPECIAL PROGRAMS

    total $517,061 · program services $517,061

  • 24c · Other expenses: BAD DEBT

    total $8,423 · fundraising $8,423

  • 24d · Other expenses: CONSULTING

    total $5,602 · fundraising $5,602

  • 24e · All other expenses

    total $16,342 · fundraising $16,342

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $99,380 · end of year $15,161

  • 3 · Pledges and grants receivable

    beginning of year $602,841 · end of year $974,654

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,335 · end of year $57,092

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

    $210,380

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

    $129,702

  • 10c · Land, buildings and equipment, net

    beginning of year $101,746 · end of year $80,678

  • 11 · Investments: publicly traded securities

    beginning of year $43,338,780 · end of year $44,237,078

  • 15 · Other assets

    beginning of year $13,748,884 · end of year $15,513,513

  • 17 · Accounts payable and accrued expenses

    beginning of year $47,796 · end of year $167,100

  • 19 · Deferred revenue

    beginning of year $3,635,787 · end of year $4,065,062

  • 25 · Other liabilities

    beginning of year $16,914,226 · end of year $18,227,891

  • 28 · Net assets with donor restrictions

    beginning of year $37,339,157 · end of year $38,418,123

Mission and programs · 2024

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., ALBRIGHT CARE SERVICES, AND ASBURY COMMUNITIES, INC. THROUGH ITS CHARITABLE FUNDRAISING EFFORTS. ASBURY FOUNDATION RAISES FUNDS FOR THE NOT-FOR-PROFIT CHARITABLE MISSIONS OF THE SENIOR LIVING AND HEALTH SERVICE PROVIDERS AFFILIATED WITH ASBURY COMMUNITIES, INC. MORE SPECIFICALLY, FUNDS RAISED BY THE ASBURY FOUNDATION IS USED FOR BENEVOLENT CARE, WHICH IS CONFIDENTIAL FINANCIAL ASSISTANCE FOR SENIORS SERVED BY ASBURY, WHO, THROUGH NO FAULT OF THEIR OWN, HAVE OUTLIVED THEIR FINANCIAL RESOURCES. IN ADDITION, THE ASBURY FOUNDATION RAISES FUNDS FOR OTHER CAPITAL PROJECTS AND PROGRAMS THAT BENEFIT RESIDENTS AND ASSOCIATES, INCLUDING ASSOCIATE SCHOLARSHIP AWARDS.I. ORGANIZATIONAL OVERVIEWASBURY FOUNDATION, INC. ("ASBURY FOUNDATION") IS A NOT-FOR-PROFIT ORGANIZATION RECOGNIZED AS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION EXISTS TO SUPPORT THE CHARITABLE ACTIVITIES OF ASBURY ATLANTIC, INC., ASBURY COMMUNITIES, INC., AND ALBRIGHT CARE SERVICES. THE FOUNDATION SECURES AND STEWARDS PHILANTHROPIC GIFTS THAT DIRECTLY ENHANCE THE LIVES OF OLDER ADULTS AND ASSOCIATES ACROSS THE ASBURY SYSTEM OF COMMUNITIES.PHILANTHROPY THROUGH ASBURY FOUNDATION SUPPORTS THREE CORE PRIORITIES:-BENEVOLENT CARE FOR RESIDENTS WHO HAVE EXHAUSTED THEIR FINANCIAL RESOURCES THROUGH NO FAULT OF THEIR OWN AND MEET THE APPROVAL CRITERIA FOR BENEVOLENT CARE. -RESIDENT PROGRAMS AND CAPITAL ENHANCEMENTS THAT IMPROVE QUALITY OF LIFE.-SCHOLARSHIPS AND EDUCATIONAL SUPPORT FOR ASBURY ASSOCIATES TO ADVANCE THEIR CAREERS.IN 2024, PHILANTHROPIC GIFTS AND COMMITMENTS TO ASBURY FOUNDATION TOTALED APPROXIMATELY $10.5 MILLION IN IMMEDIATE AND LONG-TERM INVESTMENT ACROSS THE ASBURY SYSTEM. THESE INCLUDED:-APPROXIMATELY $7.0 MILLION TO SUPPORT RESIDENTS, INCLUDING THOSE WHO HAVE OUTLIVED THEIR RESOURCES,-MORE THAN $300,000 SUPPORTING CAPITAL IMPROVEMENTS,-OVER $2.8 MILLION TO SPECIAL PROGRAMS AND ENDOWMENTS THAT BENEFIT RESIDENTS AND SERVICES, AND-MORE THAN $300,000 IN SCHOLARSHIPS AWARDED TO ASSOCIATES.II. RELATIONSHIP TO THE ASBURY SYSTEMASBURY FOUNDATION SERVES THE BROADER CHARITABLE MISSION OF THE ASBURY COMMUNITIES SYSTEM BY INVESTING IN PEOPLE, PLACES, AND PROGRAMS. WHILE THE FOUNDATION OPERATES INDEPENDENTLY, IT IS CLOSELY ALIGNED WITH THE OPERATIONS OF ASBURY COMMUNITIES, INC., ASBURY COMMUNITIES, INC. ("ASBURY") IS A NOT-FOR-PROFIT MARYLAND CORPORATION ORGANIZED UNDER SECTIONS 501(C)(3) AND 509(A)(3) OF THE INTERNAL REVENUE CODE. THE ASBURY SYSTEM INCLUDES A CONTINUUM OF SERVICES, INCLUDING INDEPENDENT LIVING, ASSISTED LIVING, MEMORY SUPPORT, SKILLED NURSING, LONG-TERM CARE, LIFE (LIVING INDEPENDENTLY FOR ELDERS, ALSO KNOWN AS PACE), PHARMACY, REHABILITATION, AND OTHER ANCILLARY PROGRAMSALL DELIVERED IN ALIGNMENT WITH THE RESPECTIVE MISSIONS OF THE SUPPORTED ORGANIZATIONS.ASBURY COMMUNITIES, INC. TRACES ITS ORIGINS TO THE ESTABLISHMENT OF ASBURY METHODIST VILLAGE (GAITHERSBURG, MD) IN 1926, ORIGINALLY FOUNDED AS THE METHODIST HOME FOR ORPHANS AND THE AGED. WHILE NO LONGER FORMALLY AFFILIATED WITH THE UNITED METHODIST CHURCH, ASBURY CONTINUES TO UPHOLD THE ETHICAL AND SPIRITUAL PRINCIPLES OF ITS FOUNDING. THE MISSION AND VALUES OF THE ORGANIZATION ARE EXPRESSED THROUGH ITS GUIDING PRINCIPLE: "DOING ALL THE GOOD WE CAN WITH INTEGRITY, TRANSPARENCY, AND GRACE."III. PROGRAM SERVICES PROVIDEDASBURY FOUNDATION ENSURES THAT PHILANTHROPY FULFILLS ITS PURPOSE THROUGH THE FOLLOWING AVENUES:-BENEVOLENT CARE: PARTIAL FINANCIAL SUPPORT PROVIDED TO ELIGIBLE RESIDENTS WHO HAVE EXHAUSTED THEIR FINANCIAL RESOURCES THROUGH NO FAULT OF THEIR OWN AND MEET THE APPROVAL CRITERIA FOR BENEVOLENT CARE. (SEE SECTION A).-CAPITAL SUPPORT & RESIDENT-FOCUSED PROGRAMS: FUNDING MAJOR INITIATIVES AND ENHANCEMENTS ACROSS ASBURY CAMPUSES, INCLUDING RENOVATION PROJECTS AND WELLNESS, LIFE ENRICHMENT, AND TECHNOLOGY PROGRAMS THAT PROMOTE AGING WITH PURPOSE.-GRANT DEVELOPMENT & STRATEGIC INITIATIVES: SECURING EXTERNAL GRANT FUNDING TO EXPAND ASBURY'S SERVICES AND REACH.-SCHOLARSHIPS FOR ASSOCIATES: PROVIDING FINANCIAL ASSISTANCE FOR ASBURY TEAM MEMBERS TO ADVANCE THEIR EDUCATION AND CAREERS, PARTICULARLY IN HIGH-DEMAND FIELDS SUCH AS NURSING AND HEALTHCARE. THESE SCHOLARSHIPS HELP CLOSE WORKFORCE GAPS WHILE EASING FINANCIAL BURDENS FOR WORKING ADULTS, OFTEN SUPPORTING BOTH PROFESSIONAL GROWTH AND FAMILY WELL-BEING.IN 2024, THE FOUNDATION RELEASED APPROXIMATELY $1.9M IN RESTRICTED FUNDS TO SUPPORT APPROVED CAPITAL IMPROVEMENTS ACROSS ASBURY'S COMMUNITIES.SECTION A: BENEVOLENT CARE BENEVOLENT CARE IS PARTIAL FINANCIAL SUPPORT PROVIDED TO ELIGIBLE RESIDENTS WHO HAVE EXHAUSTED THEIR FINANCIAL RESOURCES THROUGH NO FAULT OF THEIR OWN AND MEET THE APPROVAL CRITERIA FOR BENEVOLENT CARE. THIS ASSISTANCE HELPS COVER PARTIAL MONTHLY SERVICE FEES, CERTAIN ANCILLARY EXPENSES, AND CERTAIN THIRD-PARTY COSTS.IN 2024, MORE THAN $7.0 MILLION IN ANNUAL FUNDS AND UNRESTRICTED GIFTS WERE CONTRIBUTED TO SUPPORT RESIDENTS, INCLUDING THOSE WHO HAVE OUTLIVED THEIR RESOURCES. IN 2024, BENEVOLENT CARE SUPPORT WAS PROVIDED FOR 70 RESIDENTS ACROSS ASBURY'S CONTINUING CARE RETIREMENT COMMUNITIES:-ASBURY METHODIST VILLAGE $1,598,855-ASBURY SOLOMONS $332,913-BETHANY VILLAGE $963,381-NORMANDIE RIDGE $477,315-RIVERWOODS $158,979-SPRINGHILL $191,277TOTAL: $3,722,720 IV. SUMMARY STATEMENTASBURY FOUNDATION, INC. PLAYS A CRITICAL ROLE IN ADVANCING THE MISSION AND VALUES OF THE ASBURY SYSTEM. BY SECURING CHARITABLE SUPPORT AND STEWARDING RESOURCES WITH INTEGRITY AND PURPOSE, THE FOUNDATION STRENGTHENS THE ASBURY PROMISE TO THOSE WE SERVE: TO PROVIDE COMPASSIONATE, HIGH-QUALITY CARE AND TO BE A FORCE FOR GOOD IN THE COMMUNITIES WHERE WE LIVE AND SERVE.

    Expenses $9,614,059 · Grants $9,094,816

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

Listed in Part VII

  • Carolyn Stamatakis

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • JD Shuman

    PRESIDENT/CEO/EX-OFFICIO

    Total calculated
    $438,167
    From this org
    $0
    From related orgs
    $412,554
    Other
    $25,613
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $293,161 related
    Bonus
    $0 + $77,163 related
    Other
    $0 + $42,230 related
    Deferred
    $0 + $3,888 related
    Nontaxable benefits
    $0 + $21,725 related
    Filer's total
    $0 + $438,167 related

  • Doug Leidig

    ACOMM PRESIDENT/CEO, EX-OFFICIO

    Total calculated
    $1,411,192
    From this org
    $0
    From related orgs
    $1,372,281
    Other
    $38,911
    Hours/week
    1 + 39 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

  • Loann Burian

    VICE CHAIR

    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

  • Sara Tapiero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Linda Woodin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Dick Vert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • 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

  • 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

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
NAME: DOUG LEIDIG, DESCRIPTION: ACOMM PRESIDENT/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) NAME: JD SHUMAN, DESCRIPTION: FOUNDATION PRESIDENT/CEO, CURRENT YEAR AMOUNT: $38,289. 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

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
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202543169349307269

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