2015-11-12T13:09:58-06:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 1966 GREENSPRING DRIVE SUITE 300 TIMONIUM MD 210934161 990 2014-01-01 520607956 ASBURY ATLANTIC INC ASBU 3012164100 20030 CENTURY BOULEVARD NO 300 GERMANTOWN MD 208741112 KIM EHRENFRIED ASSISTANT TREASURER 3012164100 2015-11-12 1 JONATHAN T HANSEN CPA P01871557 4104530900 2014 2016-02-25 16:41:14Z DOUGLAS LEIDIG 20030 CENTURY BOULEVARD NO 300 GERMANTOWN MD 208741112 145268950 0 X WWW.ASBURYMETHODISTVILLAGE.ORG X 1945 MD DOING ALL THE GOOD WE CAN BY PROVIDING EXCEPTIONAL LIFESTYLE OPPORTUNITIES TO THOSE WE SERVE. 15 10 1643 2533 27631 0 4305710 2070731 116579022 121138341 2444447 2626236 214148 278281 123543327 126113589 0 0 0 0 48207557 50285133 0 0 486052 76297862 77313931 124505419 127599064 -962092 -1485475 403068776 412257530 512815793 530207270 -109747017 -117949740 X OUR MISSION IS TO DO ALL THE GOOD WE CAN BY PROVIDING EXCEPTIONAL LIFESTYLE OPPORTUNITIES TO THOSE WE SERVE. 0 0 47686771 54369793 SKILLED NURSING FACILITIES: OPERATION OF 3 SKILLED NURSING FACILITIES (SNF'S) FOR THE AGED WITH 414 TOTAL BEDS PROVIDING 139,304 DAYS OF SERVICE IN 2014. $15,367,093OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTS OF THE SNF IN 2014. 19916021 22707134 ASSISTED LIVING FACILITIES: OPERATION OF 3 ASSISTED LIVING FACILITIES FOR THE AGED WITH 266 TOTAL BEDS PROVIDING 94,366 RESIDENT DAYS IN 2014. $1,873,842 OF BENEVOLENT CARE AND $242,715 CONTRACTUAL ALLOWANCES WERE PROVIDED TO THE ASSISTED LIVING RESIDENTS IN 2014. 38863115 44309554 RESIDENTIAL LIVING: OPERATION OF 1,385 RESIDENTIAL LIVING UNITS FOR THE AGED, PROVIDING 473,041 DAYS OF SERVICE IN 2014. $33,005 OF BENEVOLENT CARE AND $308,239 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTIAL LIVING RESIDENTS DURING 2014. ALSO SUPPLIED WELLNESS. 106465907 1 1 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 164 0 1643 1 1 1 0 0 0 0 0 0 0 0 0 X 15 10 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X MICHAEL CONNELL CFO 3012502100 20030 CENTURY BLVD SUITE 300 GERMANTOWN MD 20874 X JAMES SMELTZER DIRECTOR 1.00 0.00 X 0 0 0 NICK SERENYI CHAIR 1.00 0.00 X X 0 0 0 RICHARD FINDLEY DIRECTOR 1.00 0.00 X 0 0 0 DENNIS HANSEN DIRECTOR 1.00 0.00 X 0 0 0 CAROLINE KIM DIRECTOR 1.00 0.00 X 0 0 0 DAVID LINGRELL DIRECTOR 1.00 0.00 X 0 0 0 DONALD TRISSLER DIRECTOR 1.00 0.00 X 0 0 0 PHYLLIS SCHMITZ DIRECTOR 1.00 0.00 X 0 0 0 GUFFRIE SMITH VICE CHAIR 1.00 0.00 X X 0 0 0 LAWRENCE APPEL DIRECTOR 1.00 0.00 X 0 0 0 GEORGE A TJIATTAS DIRECTOR 1.00 0.00 X 0 0 0 THOMAS ETTINGER DIRECTOR 1.00 0.00 X 0 0 0 NORMA TYLER DIRECTOR 1.00 0.00 X 0 0 0 P GARY WIENKEN DIRECTOR 1.00 0.00 X 0 0 0 LORRAINE SEXTON DIRECTOR 1.00 0.00 X 0 0 0 ARTHUR ELGIN DIRECTOR 1.00 0.00 X 0 0 0 DOUGLAS LEIDIG PRESIDENT 1.00 65.00 X X 0 392943 23595 ANDREW JOSEPH SECRETARY, ASST. TREASURER 1.00 55.00 X 0 203122 21320 MICHAEL CONNELL TREASURER 1.00 65.00 X 0 313960 23595 SUE DACAMARA SENIOR VP 1.00 65.00 X 0 338920 20864 ANDREW APPLEGATE VICE PRESIDENT 1.00 50.00 X 0 188195 20723 MELISSA HADLEY VICE PRESIDENT 50.00 1.00 X 230182 0 23180 JIM SCHNEIDER VICE PRESIDENT 50.00 1.00 X 173153 0 17485 HENRY MOEHRING VICE PRESIDENT 50.00 1.00 X 236632 0 22660 ROBIN STERN VICE PRESIDENT 1.00 50.00 X 0 177864 20310 KIM EHRENFRIED ASST. TREASURER 1.00 65.00 X 0 181068 20438 PEGGY CRESPI KAPLAN VP, ASST. SECRETARY 1.00 65.00 X 0 321219 20864 BRAD ANDRUS ASST. SECRETARY 40.00 1.00 X 115032 0 4601 RENEE REYNOLDS ASST. SECRETARY 40.00 1.00 X 0 125290 10639 DEBBIE BARRIS ASST. SECRETARY 40.00 1.00 X 71718 0 9388 JANET DYKSTRA DIRECTOR OF NURSING 40.00 0.00 X 130379 0 13839 JEREMIAH SHUMAN SR. DIRECTOR DEVELOPMENT 40.00 0.00 X 137585 0 19476 BRENT BAYES DIRECTOR SALES & MARKETING 40.00 0.00 X 155542 0 17486 BRIAN GRUNDUSKY SNF ADMINISTRATOR 40.00 0.00 X 133829 0 16430 DOUG MYERS PRESIDENT ASBURY FOUNDATION 50.00 1.00 X 226650 0 22261 1610702 2242581 349154 20 0 1 0 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 30353 FOOD SERVICE 13771656 FLAGSHIP REHABILITATION SERVICE 157 BALTIMORE STREET CUMBERLAND MD 21502 REHABILITATION SERVICE 3736683 WAGMAN CONSTRUCTION INC 3290 SUSQUEHANNA TRAIL NORTH PO BO YORK PA 17405 CONSTRUCTION SERVICES 2786910 THW DESIGN 2100 RIVER EDGE PKWY SUITE 900 ATLANTA GA 30328 CONSTRUCTION SERVICES 1471764 OMNICARE 9036 JUNCTION DRIVE ANNAPOLIS JUNCTION MD 20701 PHARMACY SERVICES 1093167 41 2070731 2070731 NET RESIDENT REVENUE 623312 83196993 83196993 MEDICARE/MEDICAID PAYMENTS 623312 23116646 23116646 AMORTIZATION OF ENTRANCE FEES 623312 13490246 13490246 OTHER OPERATING REVENUE 623312 1334456 1334456 121138341 2053937 2053937 307436 29155 278281 278281 27631 250650 19698505 19126206 572299 572299 572299 126113589 121138341 27631 2876886 904032 904032 39865824 36930182 2500924 434718 1259980 1172569 67220 20191 5284172 3443644 1809385 31143 2971125 2724593 246532 6224667 6224667 168903 168903 83885 83885 8132033 7657127 474906 1121757 1078898 42859 3210468 2868131 342337 3538680 13700 3524980 7869209 5291893 2577316 110021 66031 43990 14775540 14544909 230631 18889241 18594399 294842 624488 624488 FOOD 5100167 5099337 830 REPAIRS & MAINTENANCE 3365618 3305690 59928 MEDICAL SUPPLIES & PHAR 2143703 2143703 BAD DEBT 423798 423798 1531753 1107303 424450 127599064 106465907 20647105 486052 17563375 1532665 39258598 41704025 4635684 4249330 7451050 12463120 227952 166221 1322606 1259580 486129533 235110899 250370625 251018634 32357260 47719006 49881626 52144949 403068776 412257530 8957642 9473680 102468571 109773991 226052001 223043633 49704 50114 175287875 187865852 512815793 530207270 X -136807052 -145998747 3670411 3874644 23389624 24174363 -109747017 -117949740 403068776 412257530 X -1485475 -273551 -6443697 X 0 1 X 1 0 X 1344207 4305710 2070731 7720648 122174861 119838671 114931119 116579022 121138341 594662014 122174861 119838671 116275326 120884732 123209072 602382662 0 0 0 602382662 1242523 2172542 1868032 2003195 2053937 9340229 1242523 2172542 1868032 2003195 2053937 9340229 123417384 122011213 118143358 122887927 125263009 611722891 0.98470 0.98660 0.01530 0.01340 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 15.00 0 0 1 0 0.00 0 0 1 X 23389624 784739 24174363 22763584 626040 23389624 22833100 -69516 22763584 22975021 -141921 22833100 21579531 1395490 22975021 1.00000 0 1 1 10553093 10553093 405153869 185581265 219572604 48295824 40327405 7968419 22126747 9202229 12924518 251018634 INTEREST IN NET ASSETS OF FOUNDATION 20372201 DEFERRED COSTS 5336084 OTHER RECEIVABLE 35312 INTEREST RECEIVABLE 160701 DUE FROM ACOMM 25618201 DEPOSITS AND OTHER ASSETS 488258 INVESTMENT IN LAND 134192 52144949 VALUATION SWAP AGREEMENTS 21243611 REFUNDABLE FEES 1059171 OBLIGATION-DEFERRED GIVING 556463 CONTINGENT REFUNDABLE ENTRANCE FEE LIABILITY 158582551 PROJECTED REFUND OF STANDARD ENTRANCE FEES 3271110 DEPOSITS FROM PROSPECTIVE RESIDENTS 3152946 187865852 X 122514127 -273551 -3325911 -3599462 126113589 0 126113589 130716850 3117786 3117786 127599064 0 127599064 PART II, LINE 3: ASBURY ATLANTIC, INC. HAS A 15 ACRE FOREST CONSERVATION EASEMENT AGREEMENT WITH THE CITY OF GAITHERSBURG, MD THAT PRESERVES TREES, TREE CANOPY AND FORESTS. ASBURY ATLANTIC, INC. DOES NOT REPORT CONSERVATION EASEMENTS IN ITS FINANCIAL STATEMENTS. THERE ARE NO REVENUES, EXPENSES OR ASSETS, OTHER THAN THE LAND, RELATED TO THIS CONSERVATION EASEMENT. PART IV, LINE 2B: ASBURY ATLANTIC, INC. HOLDS AND MANAGES RESIDENT TRUST FUND ACCOUNTS THAT ARE USED FOR PERSONAL ITEMS FOR THE RESIDENTS. ASBURY ATLANTIC, INC. IS ACTING IN A FIDUCIARY ROLE AND IS LIABLE FOR THE FUNDS IN THE RESIDENT TRUST FUND. PART V, LINE 4: THE INTENDED USE OF THE ENDOWNMENT FUND IS TO SUPPORT BENEVOLENT CARE PART X, LINE 2: ASBURY ATLANTIC HAS ONE MEMBER WHICH IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC); ACCORDINGLY NO PROVISION FOR INCOME TAXES IS REQUIRED. ASBURY COMMUNITIES, THE SOLE MEMBER OF ASBURY ATLANTIC, HAS IMPLEMENTED PROCESSES TO ENSURE COMPLIANCE WITH THE INTERNAL REVENUE SERVICE'S INTERMEDIATE SANCTIONS PROVISIONS FOR ALL ITS SUPPORTED ORGANIZATIONS, INCLUDING ASBURY ATLANTIC. THIS INCLUDES AN INDEPENDENT REVIEW BY THE COMPENSATION COMMITTEE OF THE BOARD OF ALL COMPENSATION ARRANGEMENTS WITH DISQUALIFIED PERSONS. THE COMPENSATION OF THE DISQUALIFIED INDIVIDUALS IS SET BY THE SOLE MEMBER OF ASBURY ATLANTIC AND THAT THE PROCESS IS FOR THE SYSTEM COMPENSATION COMMITTEE TO WORK WITH OUTSIDE COMPENSATION CONSULTANTS AND ATTORNEYS AND MAKE A RECOMMENDATION TO THE EXECUTIVE COMMITTEE OF ASBURY COMMUNITIES WHICH SETS THE COMPENSATION. THE BOARD OF ASBURY ATLANTIC IS ADVISED OF THE COMPENSATION ARRANGEMENTS. THE PROCESS ALSO INCLUDES THE IMPLEMENTATION OF A DETAILED CONFLICT-OF-INTEREST POLICY AND ANNUAL DISCLOSURE PROCESS FOR ALL DISQUALIFIED PERSONS. THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION MUST BE RECOGNIZED ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE RESOLUTION. THE COMPANY IS NOT AWARE OF ANY TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE COMPANY'S RESULTS OF OPERATIONS OR FINANCIAL POSITION. THE COMPANY'S INCOME TAX RETURN IS SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. THE COMPANY IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. THE TAX RETURNS FOR THE YEARS 2011 TO 2013 ARE OPEN TO EXAMINATION BY FEDERAL, LOCAL, AND STATE AUTHORITIES. PART XI, LINE 2D - RECONCILING ITEMS: VALUE CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF ASBURY FOUNDATION 1,535,287 RENT EXPENSE 29,155 VALUE CHANGES IN DERIVATIVE INSTRUMENTS -4,879,183 LOSS ON RETIREMENT OF DEBT -46,545 VALUE CHANGE UNDER CHARITABLE GIFT ANNUITIES 35,375 TOTAL TO SCHEDULE D, PART XI, LINE 2D -3,325,911 PART XII, LINE 2D - RECONCILING ITEMS: RENTAL EXPENSES 29,155 TRANSFER TO ACOMM 3,088,631 TOTAL TO SCHEDULE D, PART XII, LINE 2D 3,117,786 X X X X X X 0 0 0 0 0 0 0 0 0 DOUGLAS LEIDIG PRESIDENT 0 392133 0 0 0 810 0 10400 0 13195 0 416538 0 0 ANDREW JOSEPH SECRETARY, ASST. TREASURER 0 202456 0 0 0 666 0 8125 0 13195 0 224442 0 0 MICHAEL CONNELL TREASURER 0 313420 0 0 0 540 0 10400 0 13195 0 337555 0 0 SUE DACAMARA SENIOR VP 0 336598 0 0 0 2322 0 10400 0 10464 0 359784 0 0 ANDREW APPLEGATE VICE PRESIDENT 0 187579 0 0 0 616 0 7528 0 13195 0 208918 0 0 MELISSA HADLEY VICE PRESIDENT 229023 0 0 0 1159 0 9207 0 13973 0 253362 0 0 0 JIM SCHNEIDER VICE PRESIDENT 170769 0 0 0 2384 0 6926 0 10559 0 190638 0 0 0 HENRY MOEHRING VICE PRESIDENT 234387 0 0 0 2245 0 9465 0 13195 0 259292 0 0 0 ROBIN STERN VICE PRESIDENT 0 176989 0 0 0 875 0 7115 0 13195 0 198174 0 0 KIM EHRENFRIED ASST. TREASURER 0 180474 0 0 0 594 0 7243 0 13195 0 201506 0 0 PEGGY CRESPI KAPLAN VP, ASST. SECRETARY 0 317655 0 0 0 3564 0 10400 0 10464 0 342083 0 0 JEREMIAH SHUMAN SR. DIRECTOR DEVELOPMENT 132340 0 5000 0 245 0 5503 0 13973 0 157061 0 0 0 BRENT BAYES DIRECTOR SALES & MARKETING 121498 0 33800 0 244 0 6222 0 11264 0 173028 0 0 0 BRIAN GRUNDUSKY SNF ADMINISTRATOR 133557 0 0 0 272 0 5353 0 11077 0 150259 0 0 0 DOUG MYERS PRESIDENT ASBURY FOUNDATION 225899 0 0 0 751 0 9066 0 13195 0 248911 0 0 0 PART I, LINE 3 THE COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF ASBURY COMMUNITIES, INC. THE FULL BOARD IS INFORMED BUT IS NOT TASKED WITH APPROVING. A CITY OF GAITHERSBURG (MD) 526000792 363128BL2 2006-11-30 73400702 CURRENT REFUNDING 0 0 1 B CITY OF GAITHERSBURG (MD) 526000792 363128CB3 2009-12-16 18837005 CURRENT REFUNDING 0 0 1 C CUMBERLAND COUNTY MUNICIPAL AUTHORITY (PA) 236003119 230614FK0 2010-11-10 73542289 CURRENT REFUNDING 0 0 0 D CUMBERLAND COUNTY MUNICIPAL AUTHORITY (PA) 236003119 230614GK9 2012-10-31 52585767 CURRENT REFUNDING 0 0 0 A 73400702 6768263 1416958 65215481 2006 1 0 1 1 B 4700755 18837005 576770 376740 17883495 2009 1 0 1 1 C 2217289 73542289 6498922 1470845 65572522 2010 1 0 1 1 D 1410768 52585767 2339434 1051715 49194618 2012 1 0 1 1 A 0 1 1 1 0 0.00470 0.00470 0 0 1 B 0 1 1 1 0 0.00470 0.00470 0 0 1 C 0 1 1 1 0 0.00420 0.00420 0 0 1 D 0 1 1 1 0 0.00420 0.00420 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF GAITHERSBURG (MD) DATE THE REBATE COMPUTATION WAS PERFORMED: 12/31/2014 SCHEDULE K, PART I, ROW A AND C, COLUMN (E): THE ORGANIZATION IS A MEMBER OF AN OBLIGATED GROUP. THE ENTRIES SHOWN IN COLUMN (E) REPRESENTS THE PORTION OF THE TOTAL ISSUE PRICE ALLOCATED TO THE ORGANIZATION. SCHEDULE K, PART II, ROW A AND C, LINES 4 AND 7: THESE AMOUNTS REPRESENT A PRO RATA PORTION OF THE TOTAL BASED ON THE PORTION OF THE TOTAL ISSUE PRICE ALLOCATED TO THE ORGANIZATION. A CITY OF GAITHERSBURG (MD) 526000792 2014-04-09 15290000 CURRENT REFUNDING 0 0 0 A 15290000 1 0 1 1 A 0 1 1 1 0 0.00470 0.00470 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 FORM 990, PART III, LINE 4 AS A NOT-FOR-PROFIT ORGANIZATION, ASBURY ATLANTIC, INC. IS COMMITTED TO BEING A VALUED MEMBER OF THE COMMUNITY IN THE REGIONS WHERE IT OPERATES EACH YEAR, OUR LEADERS, ASSOCIATES AND RESIDENTS WORK WITH COMMUNITY SERVICE ORGANIZATIONS, HEALTH PROVIDERS AND FOUNDATIONS ON PROGRAMS IDENTIFIED AS NEEDED IN THE LOCAL COMMUNITY, COMPORT WITH ASBURY'S MISSION TO "DO ALL THE GOOD WE CAN" AND THAT FOCUS ON FOUR AREAS IN PARTICULAR. THESE BROAD CATEGORIES ARE: BENEVOLENT CARE, TRAINING THE NEXT GENERATION OF LEADERS IN THE SENIOR SERVICES PROFESSIONS, WORKING WITH AND SUPPORTING OTHER SENIOR SERVICES ORGANIZATIONS, AND GOING GREEN AND SUSTAINABLE. ASBURY'S ATLANTIC'S BENEFIT WORK IS FOCUSED ON IMPROVING THE LIVES OF THOSE WHO LIVE IN THE COMMUNITIES IN WHICH THE SERVICES ARE PROVIDED, REGARDLESS OF WHETHER THE INDIVIDUALS LIVE ON OR OFF AN ASBURY CAMPUS. TO ACHIEVE THIS GOAL ASBURY OFTEN WORKS WITH OTHER COMMUNITY ORGANIZATIONS. ASBURY WORKS HARD EACH YEAR TO EXPAND ITS WORK IN THE COMMUNITY ON MEANINGFUL WAYS THAT IT CAN SUSTAIN AND GROW. HIGHLIGHTS OF THIS YEAR'S COMMUNITY BENEFIT ACCOMPLISHMENTS AT EACH ASBURY ATLANTIC COMMUNITY INCLUDE THE FOLLOWING: IN THE AREA OF TRAINING FUTURE GENERATIONS OF CAREGIVERS, ASBURY METHODIST VILLAGE(AMV) PROVIDED MENTORING IN ADMINISTRATIVE AND PASTORAL CARE SERVICES FOR GRADUATE STUDENTS AT GEORGE WASHINGTON, HOWARD, KAPLAN, AND LOYOLA UNIVERSITIES. AMV PROVIDED TRAINING FOR GERONTOLOGY, NURSING, REHABILITATIVE CARE AND SOCIAL WORK UNDERGRADUATE AND GRADUATE STUDENTS AT MONTGOMERY COLLEGE, THE UNIVERSITY OF MARYLAND, AS WELL AS INTERNSHIPS FOR SEVERAL HIGH SCHOOLS. AMV DONATED MEETING SPACE FOR MORE THAN 30 NON-PROFIT, COMMUNITY ORGANIZATIONS THROUGHOUT THE YEAR, AND HOSTED SUPPORT GROUPS FOR FAMILY MEMBERS AND OTHER CAREGIVERS OF PEOPLE WITH ALZHEIMER'S DISEASE. ASBURY ATLANTIC ALSO HOSTS A SENIOR WELLNESS TALK AT AN AREA CHURCH. THE BELOVED COMMUNITY INITIATIVE, A RESIDENT CREATED AND RUN COLLABORATION WITH THE CITY OF GAITHERSBURG, IN MONTGOMERY COUNTY, MARYLAND, AND SUPPORTED BY HUMAN AND FINANCIAL RESOURCES OF ASBURY ATLANTIC DEVOTED HUNDREDS OF HOURS TO MENTORING AREA STUDENTS, HOSTING PARTIES AT ASBURY'S POOL, AND TAKING CHILDREN TO THE NATIONAL BOOK FESTIVAL IN WASHINGTON, D.C., WHERE THEY MET CIVIL RIGHTS ICON REP. JOHN LEWIS AND RECEIVED HIS AUTOGRAPHED GRAPHIC NOVEL. FOR THESE EFFORTS - AND MANY MORE SINCE ITS INCEPTION IN 2011 - THE GAITHERSBURG BELOVED COMMUNITY INITIATIVE WAS HONORED AS THE 2014 LEADINGAGE HOBART JACKSON CULTURAL DIVERSITY AWARD WINNER AT LEADINGAGE NATIONAL CONFERENCE. ASBURY ATLANTIC SUPPORTED MEALS ON WHEELS AND THE MONTGOMERY COUNTY COALITION FOR THE HOMELESS SHELTER WITH FOOD PREPARATION AND STRATEGIC PLANNING SPACE. AMV ASSOCIATES COLLECTED SCHOOL SUPPLIES AND BACKPACKS FOR 150 STUDENTS THAT ATTEND SUMMIT HALL ELEMENTARY SCHOOL IN GAITHERSBURG. ASBURY METHODIST VILLAGE HAS SAVED APPROXIMATELY 500,000 KILOWATT HOURS OF ENERGY SINCE 2011 BY REPLACING OUTDOOR LIGHTS WITH LONG-LASTING LED BULBS. IN THE CASE OF ONE COMMUNITY, THIS CHANGE ALLOWED FOR THE REPLACEMENT OF A GAS-POWERED BUCKET TRUCK WITH AN ELECTRIC CART, SAVING BOTH GAS AND EMISSIONS. IN THE AREA OF TRAINING THE NEXT GENERATION OF PROFESSIONALS, THE FOLLOWING OCCURRED. PROVIDED TRAINING FOR CERTIFIED NURSING ASSISTANTS, LICENSED PRACTICAL NURSES, HUMAN RESOURCES AND SOCIAL WORK STUDENTS AT HARRISBURG AREA COMMUNITY COLLEGE, LANCASTER BIBLE COLLEGE, GANNON, MERCYHURST, PHEONIX UNIVERSITY, KAPLAN, GREAT LAKES INSTITUTE OF TECHNOLOGY, GEORGE WASHINGTON, HOWARD, LOYOLA, PENN STATE AND SHIPPENSBURG STATE UNIVERSITIES. PROVIDED BOARD LEADERSHIP FOR AND SERVED ON WORK FORCE TASK FORCE FOR LEADINGAGE PENNSYLVANIA. ORGANIZED AND RAISED APPROXIMATELY $5,000 FOR THE AREA CHAPTER OF THE ALZHEIMER'S ASSOCIATION THOUGH A ROCK-A-THON AND RAISED MORE THAN $3,500 FOR THE ASSOCIATION'S WALK TO END ALZHEIMER'S. HOSTED SUPPORT GROUPS FOR FAMILY MEMBERS AND OTHER CAREGIVERS OF PEOPLE WITH ALZHEIMER'S DISEASE. BETHANY VILLAGE DONATED MEETING SPACE FOR MORE THAN 10 NON-PROFIT, COMMUNITY ORGANIZATIONS THROUGHOUT THE YEAR. IN CONJUNCTION WITH VOLUNTEERS OF AMERICA, ASSOCIATES COLLECTED, STORED AND ARRANGED FOR PICK-UP OF DONATED CLOTHING. FINALLY, IN THE AREA OF ENVIRONMENTAL SUSTAINABILITY, BETHANY VILLAGE CONTINUED THEIR COMMUNITY-WIDE RECYCLING PROGRAM INVOLVING THE DAILY COLLECTION OF SODA CAN TABS, PAPER, GLASS, METAL AND PLASTIC THROUGHOUT THE YEAR. PROVIDED SUPPORT FOR THE ERIE COUNTY DIABETES ASSOCIATION FAMILY HEALTH & WELLNESS DAY. HOSTED A PARKINSON'S PARTNERS SUPPORT GROUP THAT PROVIDES SUPPORT TO RESIDENTS IN THE COMMUNITY AND INDIVIDUALS OUTSIDE THE COMMUNITY THAT CARE FOR OR HAVE PARKINSON'S. SNF ADMINISTRATOR VOLUNTEERED AS A SURVEYOR FOR A CARF/CCAC SURVEYS AT A CCRC IN CALIFORNIA. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS CAN ACT IN PLACE OF THE BOARD BETWEEN MEETINGS. ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE MEMBERS OF THE BOARD OF DIRECTORS. WE HAVE REPORTED TEN INDEPENDENT VOTING MEMBERS OF THE GOVERNING BODY. THE NON-INDEPENDENT BOARD MEMBERS CONSIST OF ONE EMPLOYEE OF ASBURY COMMUNITIES, INC., AND INVESTMENT ADVISORY TO THE ASBURY COMMUNITIES, INC. 401(K) PLAN, ONE RESIDENT OF ASBURY SOLOMONS, INC., ONE RESIDENT OF BETHANY VILLAGE AND ONE RESIDENT OF ASBURY METHODIST VILLAGE. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION HAS MADE SIGNIFICANT CHANGES TO THE ORGANIZATIONAL DOCUMENTS INCLUDING THAT BOARD MEMBERS SHALL BE ELECTED FOR TERMS OF 1 YEAR. FORM 990, PART VI, SECTION A, LINE 6 ASBURY ATLANTIC HAS ONE MEMBER. THE SOLE MEMBER IS ASBURY COMMUNITIES, INC. FORM 990, PART VI, SECTION A, LINE 7A ASBURY COMMUNITIES, INC IS THE SOLE MEMBER OF ASBURY ATLANTIC AND ELECTS THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B ONLY CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO ASBURY COMMUNITY INC'S APPROVAL. THESE DECISIONS INCLUDE: (1) MANAGEMENT SERVICES RELATIONSHIPS AND CONTRACTS; (2) ANY ORGANIZATIONAL CHANGE IN GENERAL, INCLUDING MERGERS, SALES, LEASES, ETC, OF SUBSTANTIALLY ALL OF THE ASSETS AND THE CREATION OF NEW ENTITIES; (3) AMENDMENTS TO MISSION OR VISION STATEMENTS; (4) AMENDMENTS TO THE ARTICLES OF INCORPORATION OR BYLAWS. FORM 990, PART VI, SECTION B, LINE 11 ASBURY COMMUNITIES IS THE SOLE MEMBER OF ASBURY ATLANTIC INC., ASBURY SOLOMONS INC., INVERNESS VILLAGE, AN OKLAHOMA NOT FOR PROFIT CORPORATION AND ASBURY COMMUNITIES HCBS, INC. ASBURY COMMUNITIES HAS A SYSTEM WIDE AUDIT COMMITTEE. THE ASBURY COMMUNITIES BOARD OF DIRECTORS HAS DELEGATED A REVIEW OF THE FORM 990 TO THE SYSTEM AUDIT COMMITTEE WHICH PERFORMED THEIR REVIEW ON OCTOBER 28TH. THE ASBURY COMMUNITIES, INC., FOUNDATION, ASBURY ATLANTIC, ASBURY SOLOMONS, ASBURY COMMUNITIES HCBS, AND INVERNESS VILLAGE BOARD OF DIRECTORS WERE FORWARDED A COPY OF THEIR RESPECTIVE DRAFT FORM 990 FOR THEIR REVIEW AND PROVIDED A LINK TO RECORDING OF THE AUDIT COMMITTEE MEETING IF MEMBERS CHOSE TO LISTEN TO THE MEETINGS AS THEY REVIEWED ANY OF THE FORM 990S. ALL DIRECTORS MAY POSE QUESTIONS OR ASK FOR CLARIFICATION FROM THE STAFF AND AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE ASBURY COMMUNITIES CONFLICT OF INTEREST POLICY WAS APPROVED BY THE BOARD OF DIRECTORS. THE ASSISTANT GENERAL COUNSEL IS RESPONSIBLE FOR THE POLICY AND OVERSEES THE IMPLEMENTATION OF THE PROCESS. ALL THE ENTITIES WITHIN THE ASBURY COMMUNITIES SYSTEM ARE SUBJECT TO THE POLICY. ANNUALLY, THE COMPLIANCE OFFICER CONDUCTS A COMPREHENSIVE CONFLICT DISCLOSURE PROCESS COVERING ALL MEMBERS OF THE GOVERNING BOARDS, SYSTEM WIDE COMMITTEES, AND INDIVIDUALS IN MANAGEMENT POSITIONS. EACH PERSON COMPLETES A CONFLICT DISCLOSURE FORM AND IS ADVISED OF THEIR FIDUCIARY OBLIGATIONS. THE COMPLIANCE OFFICER, WHO HAD A DIRECT REPORTING LINE TO THE CHAIR OF THE AUDIT COMMITTEE AND REPORTS QUARTERLY TO THE AUDIT COMMITTEE, ANALYZES ALL DISCLOSURE FORMS FOR POTENTIAL CONFLICTS, AND PREPARES A REPORT FOR THE SYSTEM-WIDE AUDIT COMMITTEE. A SUMMARY IS THEN PRESENTED TO THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. WHEN A CONFLICT OF INTEREST ARISES, THE INDIVIDUAL WILL BE REQUIRED TO RECUSE HIM OR HERSELF FROM THE BOARD DELIBERATIONS AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE SYSTEM WIDE COMPENSATION COMMITTEE MEETS WITH THE INDEPENDENT COMPENSATION CONSULTANT, AND BASED ON INFORMATION PROVIDED TO THE COMMITTEE MAKES RECOMMENDATIONS REGARDING COMPENSATION AND BENEFITS TO THE EXECUTIVE COMMITTEE WHICH IS CHARGED BY THE FULL BOARD WITH DECISIONS REGARDING COMPENSATION. THE INDEPENDENT COMPENSATION CONSULTANTS AND ATTORNEY AS ALSO PRESENT AT THE MEETING OF THE EXECUTIVE COMMITTEE AT WHICH THE EXECUTIVE COMMITTEE CONSIDERS THE RECOMMENDATION OF THE COMPENSATION COMMITTEE. AT THIS MEETING THE EXECUTIVE COMMITTEE RECEIVES ALL OF THE SAME INFORMATION WHICH WAS PRESENTED TO THE COMPENSATION COMMITTEE AND HAS THE OPPORTUNITY TO ASK QUESTIONS AND EVALUATE THE MATERIALS. THE FULL BOARD(S) OF ASBURY COMMUNITIES AND ASBURY ATLANTIC EACH RECEIVE A PRESENTATION ONCE A YEAR ON EXECUTIVE COMPENSATION AND BENEFITS. THE VICE PRESIDENT OF HUMAN RESOURCES IS PRESENT TO GIVE BOARD MEMBERS AN OPPORTUNITY TO ASK QUESTIONS AND TO PROVIDE SALARIES AND GRADE LEVELS FOR THEIR REVIEW. THE SYSTEM WIDE COMPENSATION COMMITTEE IS COMPOSED OF 5 VOTING MEMBERS, THE VICE PRESIDENT OF HUMAN RESOURCES (NON-VOTING), A RETAINED ATTORNEY (NON-VOTING; RECORDS PROCEEDINGS IN MINUTES), AND IS ADVISED BY TOWERS WATSON (A COMPENSATION CONSULTING FIRM). THE SYSTEM WIDE COMPENSATION COMMITTEE HOLDS A MINIMUM OF 4 MEETINGS EACH YEAR. AT THE FALL MEETING THEY REVIEW TOWERS WATSON DATA AND REPORTS IN ORDER TO MAKE RECOMMENDATIONS REGARDING SALARIES AND BENEFITS. THIS ANNUAL REVIEW ALSO ENSURES COMPLIANCE WITH IRS INTERMEDIATE SANCTIONS REQUIREMENTS. THE EXECUTIVE COMMITTEE ULTIMATELY REVIEWS/APPROVES/ AND OR ADJUSTS RECOMMENDATIONS FROM THE SYSTEM WIDE COMPENSATION COMMITTEE AND SETS COMPENSATION. THE PROCESS WAS LAST REVIEWED IN 2014. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE AVAILABLE IN THE RESIDENT LIBRARIES. THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON OUR WEBSITE. FORM 990, PART VII, SECTION A 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 2,100 TOTAL EMPLOYEES IN THE ASBURY COMMUNITIES, INC. SYSTEM. THE 2014 CONSOLIDATED AUDITED FINANCIAL STATEMENTS FOR ASBURY COMMUNITIES, INC. HAD TOTAL REVENUES OF $179.2 MILLION AND TOTAL ASSETS IN EXCESS OF $568 MILLION. FORM 990, PART VII, SECTION A BEGINNING WITH YEAR 2014, FOUNDATION ASSOCIATE SALARIES AND BENEFITS, WHICH WERE PREVIOUSLY REPORTED ON THE ASBURY FOUNDATION IRS FORM 990, WILL BE REPORTED BY THE ASBURY ENTITY WHERE THEY DEDICATED THEIR TIME. ASBURY FOUNDATION ASSISTS WITH THE MISSION OF THE NON PROFIT ENTITIES WITHIN THE ASBURY COMMUNITIES SYSTEM. FORM 990, PART XI, LINE 9: NET UNREALIZED LOSS ON CHANGE IN MARKET VALUE OF DERIVATIVE INSTRUMENTS -4,879,183. CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF ASBURY FOUNDATION, INC 1,535,287. LOSS ON RETIREMENT OF DEBT -46,545. CHANGE IN VALUE OF OBLIGATIONS UNDER CHARITABLE GIFT ANNUITIES 35,375. TRANSFER TO ACOMM -3,088,631. FORM 990, SCHEDULE K, PART II THE PROCEEDS OF THE SERIES 2009B MD BONDS (CUSIP #363128CB3) ISSUED BY THE CITY OF GAITHERSBURG (MD) WERE ALLOCATED BETWEEN 2 ENTITIES: ASBURY ATLANTIC, INC. (EIN 52-0607956) AND ASBURY SOLOMONS, INC. (EIN-52-1862675). THE TOTAL PROCEEDS FROM THE ISSUE OF THE SERIES 2009B MD BOND IS $43,806,989 (NET OF INSURANCE DISCOUNT OF $13,011) AND IS ALLOCATED AS FOLLOWS: ASBURY ATLANTIC, INC. $17,878,771 ASBURY SOLOMONS, INC. $25,928,218 ASBURY COMMUNITIES INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 521862677 MANAGEMENT SERVICES MD 501(C)(3) LINE 11C, III-FI 0 INVERNESS VILLAGE 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 731539802 HOUSING AND HEALTHCARE FOR OLDER ADULTS OK 501(C)(3) LINE 9 ASBURY COMMUNITIES INC 0 ASBURY SOLOMONS INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 521862675 HOUSING AND HEALTHCARE FOR OLDER ADULTS MD 501(C)(3) LINE 9 ASBURY COMMUNITIES INC 0 ASBURY FOUNDATION INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 521862674 RAISING FUNDS FOR CHARITY CARE MD 501(C)(3) LINE 7 ASBURY COMMUNITIES INC 0 AFFILIATED ASSOCIATES INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 510426078 EMPLOYEE PAYMASTER COMPANY MD 501(C)(3) LINE 11C, III-FI ASBURY COMMUNITIES INC 0 ASBURY COMMUNITIES HCBS INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 450634490 HOME CARE FOR OLDER ADULTS MD 501(C)(3) LINE 9 ASBURY COMMUNITIES INC 0 THE ASBURY GROUP INC 20030 CENTURY BLVD GERMANTOWN MD 20874 205038820 MANAGEMENT SERVICES DE ASBURY COMMUNITIES INC C 0 TAG MARKETING LLC 20030 CENTURY BLVD GERMANTOWN MD 20874 262896006 MARKETING SRVCS DE ASBURY COMMUNITIES INC C 0 THE ASBURY GROUP INTEGRATED TECHNOLOGIES LLC 20030 CENTURY BLVD GERMANTOWN MD 20874 262896175 INFOR & CNSLT SVCS DE ASBURY COMMUNITIES INC C 0 0 0 1 0 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0