2013-11-11T15:49:56-06:00 2012-12-31 410746749 CLIFTONLARSONALLEN LLP 610 WEST GERMANTOWN PIKE SUITE 400 PLYMOUTH MEETING PA 19462 990 2012-01-01 521862674 ASBURY FOUNDATION INC ASBU 3012504050 20030 CENTURY BLVD NO 300 GERMANTOWN MD 208741112 KIM EHRENFRIED 3012504050 2013-11-11 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 2012 2016-03-07 17:11:31Z DOUGLAS C MYERS 20030 CENTURY BLVD NO 300 GERMANTOWN MD 208741112 6987221 0 X WWW.THEASBURYFOUNDATION.ORG X 1994 MD SECURING CHARITABLE SUPPORT TO ENHANCE THE LIVES OF PERSONS SERVED BY ASBURY. 13 8 13 12 0 0 2618627 3620817 0 0 976969 423718 -6031 -21586 3589565 4022949 0 0 0 0 1024912 1065443 0 0 2933439 1234850 2276649 2259762 3342092 1329803 680857 23167260 24250789 5362806 5232802 17804454 19017987 THE MISSION OF ASBURY FOUNDATION IS SECURING CHARITABLE SUPPORT TO ENHANCE THE LIVES OF PERSONS SERVED BY ASBURY. 0 0 113597 ASBURY FOUNDATION IS A SECTION 509(A)(1)ORGANIZATION THAT PROMOTES CHARITABLE GIVING AND FUNDS THE CHARITABLE PROGRAMS OF ASBURY ATLANTIC, INC., ASBURY SOLOMONS, INC. AND INVERNESS VILLAGE, INC. 113597 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 13 1 0 0 0 0 0 0 1 1 0 0 0 X 13 8 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X MICHAEL CONNELL CFO 3012502028 20030 CENTURY BLVD GERMANTOWN MD 20874 X JOHN SCHULZE 1.00 X X 0 0 0 KATRYN B GORRELL 1.00 X X 0 0 0 LEONA BACRACH 1.00 X 0 0 0 JUDY BANKSON 1.00 X 0 0 0 TITA HERSHNER EBERLY 1.00 X 0 0 0 JONATHAN EBINGER 1.00 X 0 0 0 MARY ELLEN ELWELL 1.00 X 0 0 0 MEARLE GRIFFITH 1.00 X 0 0 0 LOUIS F GRAMMES 1.00 X 0 0 0 STEPHEN JACKSON 1.00 X 0 0 0 PHYLLIS SCHWEIZER 1.00 X 0 0 0 THOMAS WILLICH 1.00 X 0 0 0 DENNIS YOCUM 1.00 X 0 0 0 NICHOLAS J SERENYI 1.00 X 0 0 0 DOUGLAS C MYERS 50.00 X X 219259 0 18688 PEGGY CRESPI KAPLAN 1.00 65.00 X 0 331391 17462 ANDREW JOSEPH 1.00 55.00 X 0 201828 18077 MICHAEL CONNELL 1.00 65.00 X 0 324274 19841 DOUGLAS LEIDIG 1.00 65.00 X 0 382761 19841 KIM EHRENFRIED 1.00 65.00 X 0 173777 17318 JEREMIAH D SHUMAN 40.00 0.00 X 144623 0 16405 363882 1414031 127632 2 0 1 0 0 173591 3447226 271810 3620817 398503 398503 2912353 2887138 25215 25215 25215 37273 173591 77134 -39861 -39861 OTHER OPERATING REVENUE 623312 18275 18275 18275 4022949 0 0 402132 X 398975 398975 524407 228370 296037 14464 5540 8924 69330 12507 56823 58267 14980 43287 22423 22423 1340 1340 5829 5829 16937 8593 8344 12621 12621 97368 97368 70041 70041 965 965 13586 13586 112 112 6418 6418 4067 4067 TRANSFERS TO (FROM) AFO 1622416 1622416 TEMPORARY RESTRICTION E 272989 272989 SPECIAL PROGRAMS 105004 105004 24533 24533 3342092 113597 295056 2933439 138200 213186 2361 11771 84767 34218 55775 50549 11828449 13048007 11142475 10927276 23167260 24250789 5251 7511 5356228 5225017 1327 274 5362806 5232802 X 150000 150000 1371445 2611631 16283009 16256356 17804454 19017987 23167260 24250789 X 680857 795849 -263173 X X 0 1 X 1 0 X 4053931 3631818 2618627 3620817 13925193 4053931 3631818 2618627 3620817 13925193 13925193 59103 147115 398885 398503 1003606 18275 18275 14947074 37273 0.93160 0.94450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23968985 198524 -233950 23933559 24116800 566076 -713891 23968985 22632606 2218711 -734517 24116800 21954643 1242577 -564614 22632606 21994377 562983 -602717 21954643 0.00000 1.00000 0.00000 0 0 41461 6796 34665 43306 27422 15884 50549 DUE FROM AFFILIATES 8360441 FUNDS HELD IN TRUST 1925688 PLEDGES RECEIVABLE 202451 OTHER RECEIVABLES 17225 LAND HELD FOR SALE 230000 NON-CASH GIFTS 191471 10927276 LEASES PAYABLE 274 274 X 4632761 795849 -186037 609812 4022949 0 4022949 3419226 77134 77134 3342092 0 3342092 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO PROVIDE BENEVOLENT CARE. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: ASBURY COMMUNITIES AND AFFILIATES, EXCEPT THE ASBURY GROUP, INC. (TAG), ARE 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. TAG IS ORGANIZED AS A FOR-PROFIT ENTITY AND IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. INCOME TAXES FOR TAG ARE RECORDED AS DEFERRED TAX ASSETS AND LIABILITIES IN THE ACCOMPANYING CONSOLIDATED BALANCE SHEETS TO REFLECT TEMPORARY BOOK AND TAX DIFFERENCES. THE COMPANY HAS IMPLEMENTED PROCESSES TO ENSURE COMPLIANCE WITH THE INTERNAL REVENUE SERVICE INTERMEDIATE SANCTIONS PROVISIONS FOR ALL ITS SUPPORTED ORGANIZATIONS, INCLUDING THE COMPANY. THIS INCLUDES AN INDEPENDENT REVIEW BY THE BOARD'S COMPENSATION COMMITTEE OF ALL COMPENSATION ARRANGEMENTS WITH DISQUALIFIED PERSONS, RETENTION OF OUTSIDE COUNSEL AND OUTSIDE COMPENSATION CONSULTANTS TO PROVIDE INDEPENDENT THIRD-PARTY REVIEW AND ADVISEMENT, AND 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 RETURNS ARE 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 2009 TO 2011 ARE OPEN TO EXAMINATION BY FEDERAL, LOCAL, AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE-CHARITABLE GIFT ANNUITY -225,178. NET ASSETS RELEASED FOR CAPITAL ITEMS -37,993. DIRECT EXPENSES FROM FUNDRAISING EVENTS 77,134. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FROM FUNDRAISING EVENTS 77,134. CARING CLASSIC GOLF TOURNAMENT 147824 122690 25134 11056 11036 14420 5184 INVERNESS SPRING FLING 33250 24425 8825 5516 450 961 2 29790 26476 3314 6590 9638 12283 210864 173591 37273 11056 11036 26526 10088 18428 77134 -39861 X X X X X X 0 0 0 0 0 0 0 1 0 DOUGLAS C MYERS 211565 0 7000 0 694 0 6347 0 12341 0 237947 0 0 0 PEGGY CRESPI KAPLAN 0 302827 0 25000 0 3564 0 7500 0 9962 0 348853 0 0 ANDREW JOSEPH 0 191198 0 10000 0 630 0 5736 0 12341 0 219905 0 0 MICHAEL CONNELL 0 298734 0 25000 0 540 0 7500 0 12341 0 344115 0 0 DOUGLAS LEIDIG 0 351951 0 30000 0 810 0 7500 0 12341 0 402602 0 0 KIM EHRENFRIED 0 165913 0 7500 0 364 0 4977 0 12341 0 191095 0 0 JEREMIAH D SHUMAN 135469 0 8974 0 180 0 4064 0 12341 0 161028 0 0 0 PART I, LINE 3 APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE THE COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THE FULL BOARD IS INFORMED BUT IS NOT TASKED WITH APPROVING. SUPPLEMENTAL INFORMATION PART III SCHEDULE J, PART I, QUESTION 7: IN 2009, DURING THE FINANCIAL CRISIS IN THE U.S., ASBURY COMMUNITIES EXECUTIVES AND MANAGEMENT VOLUNTARILY DECLINED PLANNED INCENTIVES EARNED IN 2008 DUE FOR AWARD IN 2009. THE ASBURY PLANNED INCENTIVE COMPENSATION PLAN WAS SUSPENDED BY THE BOARD IN 2009. FOR 2009 THROUGH 2012, SMALLER DISCRETIONARY BONUSES WERE PROVIDED TO EXECUTIVES AND MANAGEMENT IN AMOUNTS SUBSTANTIALLY REDUCED FROM THE PLANNED INCENTIVE COMPENSATION PLAN. IN DECEMBER OF EACH YEAR, THESE DISCRETIONARY BONUSES WERE REVIEWED AND ADOPTED BY THE EXECUTIVE COMMITTEE OF THE ASBURY COMMUNITIES BOARD AND REPORTED TO THE ASBURY COMMUNITIES BOARD OF DIRECTORS. X 8 92473 FMV X 1 84174 APPRAISAL X ANTIQUE LADIES DIAMOND RINGS 1 11043 APPRAISAL X ANNUITY 1 84120 CASH VALUE 1 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL ACT IN THE PLACE OF THE BOARD OF DIRECTORS WHEN THE BUSINESS OF THE CORPORATION MUST BE TRANSACTED BETWEEN REGULAR MEETINGS OF THE BOARD OF DIRECTORS. NO ACTION OF THE EXECUTIVE COMMITTEE SHALL BE INCONSISTENT WITH THE ACTIONS, DIRECTIVES, OR POLICIES OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE NO POWER TO ELECT THE OFFICERS; ELECT THE PRESIDENT; APPROVE THE NNUAL BUDGET, OPERATING AND CAPITAL, UNLESS SPECIFICALLY AUTHORIZED BY THE FULL BOARD TO DO SO; APPROVE ANY AMENDMENTS TO THE ARTICLES OF INCORPORATION AND/OR THE BYLAWS; APPROVE ANY LONG RANGE OR STRATEGIC PLANS OF THE CORPORATION, UNLESS SPECIFICALLY AUTHORIZED BY THE FULL BOARD TO DO SO; AND PURCHASE OR SELL REAL ESTATE, UNLESS SPECIFICALLY AUTHORIZED BY THE FULL BOARD TO DO SO. ALL ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE MUST BE FULLY DISCLOSED TO THE BOARD AT THE NEXT MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ANY PROPOSAL WITH RESPECT TO ANY OF THE FOLLOWING SHALL BE SUBMITTED TO THE BOARD OF DIRECTORS OF ASBURY COMMUNITIES, INC. AND SHALL NOT BECOME EFFECTIVE UNTIL AND UNLESS APPROVED BY THE BOARD OF DIRECTORS OF ASBURY COMMUNITIES, INC.: (I) CHANGE THE MISSION OR PURPOSE OF THE CORPORATION; (II) ELECT AND REMOVE DIRECTORS (THE REMOVAL OF DIRECTORS SHALL REQUIRE A VOTE OF NOT LESS THAN SEVENTYFIVE PERCENT (75%) OF THE DIRECTORS OF ASBURY COMMUNITIES; (III) UNDERTAKE ANY EXTRAORDINARY CORPORATE ACTIONS; (IV) INCUR ANY SUBSTANTIAL DEBT OR TRANSFER A SUBSTANTIAL PORTION OF ITS ASSETS; (V) ADOPT AN ANNUAL OPERATING OR CAPITAL BUDGET; (VI) APPOINT COUNSELOR AN AUDITOR FOR THE CORPORATION; (VII) CHANGE THE CORPORATION'S FISCAL YEAR OR ACCOUNTING METHOD. 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 17TH. THE ASBURY COMMUNITIES, INC., FOUNDATION, ASBURY ATLANTIC, ASBURY SOLOMONS, ASBURY HCBS, AND INVERNESS VILLAGE BOARD OF DIRECTORS WERE EMAILED A COPY OF THEIR RESPECTIVE DRAFT FORM 990 FOR THEIR REVIEW. 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 GENERALLY RESPONSIBLE FOR THE POLICY PROCESS. ALL THE ENTITIES WITHIN THE ASBURY COMMUNITIES GROUP 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 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 INTEREST PERSON WILL BE PROHIBITED FROM VOTING ON THE SUBJECT MATTER. 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 MAKING DECISIONS REGARDING COMPENSATION.THE SYSTEM WIDE COMPENSATION COMMITTEE IS COMPOSED OF 5 VOTING MEMBERS,THE CHIEF PEOPLE OFFICER (NON-VOTING), A RETAINED ATTORNEY (NON-VOTING; RECORD 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(JAN, MARCH, JULY, AND NOV). IN THE NOVEMBER MEETING THEY REVIEW TOWERS WATSON ANNUAL SURVEY RESULTS AND REPORTS IN ORDER TO MAKE INFORMED RECOMMENDATIONS REGARDING SALARIES AND BENEFITS. THIS ANNUAL REVIEW ALSO ENSURES COMPLIANCE WITH IRS INTERMEDIATE SANCTIONS REQUIREMENTS. THE EXECUTIVE COMMITTEE OF THE ASBURY FOUNDATION ANNUALLY REVIEWS THE PERFORMANCE AND SETS THE COMPENSATION OF THE PRESIDENT BASED UPON RECOMMENDATIONS OF THE SYSTEM-WIDE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON THE WEBSITE. GOVERNING DOCUMENTS AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. 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 INVERNESS VILLAGE AND ASBURY FOUNDATION, INC. AS WELL AS THE OTHER RELATED ORGANIZATIONS OF ASBURY COMMUNITIES, INC. THERE ARE OVER 1,900 TOTAL EMPLOYEES IN THE ASBURY COMMUNITIES, INC. SYSTEM. THE 2012 CONSOLIDATED AUDITED FINANCIAL STATEMENTS FOR ASBURY COMMUNITIES, INC. HAD TOTAL REVENUES OF $162.1 MILLION AND TOTAL ASSETS IN EXCESS OF $558 MILLION. OTHER FEES FORM 990, PART IX, LINE 11G OTHER SERVICES: PROGRAM SERVICE EXPENSES 8,593. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 8,344. TOTAL EXPENSES 16,937. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF GIFT ANNUITIES -225,180. NET ASSETS RELEASED FROM RESTRICTIONS USED FOR PURCHASE OF CAPITAL ITEMS -37,993. FORM 990, PART XII, LINE 8A THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. LINE 24 OTHER EXPENSES FORM 990, PART IX, STATEMENT OF FUNCTIONAL EXPENSES LINE 24A TRANSFERS TO (FROM) FOUNDATION $1,622,416 THIS IS THE ALLOCATION OF UNRESTRICTED GIFTS & EXPENSES TO OUR INDIVIDUAL COMMUNITIES IN ACCORDANCE WITH OUR CHARITABLE MISSION. LINE 24B TEMPORARY RESTRICTION EXPENSE $272,989 RELEASE OF TEMPORARILY RESTRICTED FUNDS. LINE 24C SPECIAL PROGRAMS $105,004 EXPENSES RELATED TO FUNDRAISING EVENTS FOR BENEVOLENT CARE, SUCH AS THE CARING CLASSIC GOLF TOURNAMENT. ASBURY ATLANTIC INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 520607956 HOUSING AND HEALTHCARE FOR OLDER ADULTS MD 501(C)(3) 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) 9 ASBURY COMMUNITIES INC 0 ASBURY COMMUNITIES INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 521862677 MANAGEMENT SERVICES MD 501(C)(3) 11 0 INVERNESS VILLAGE 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 731539802 HOUSING AND HEALTHCARE FOR OLDER ADULTS MD 501(C)(3) 9 ASBURY COMMUNITIES INC 0 AFFILIATED ASSOCIATES INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 510426078 EMPLOYEE PAYMASTER COMPANY MD 501(C)(3) 11 ASBURY COMMUNITIES INC 0 ASBURY COMMUNITIES HCBS INC 450634490 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 HOME CARE FOR OLDER ADULTS MD 501(C)(3) 9 ASBURY COMMUNITIES INC 0 THE ASBURY GROUP INC 20030 CENTURY BLVD GERMANTOWN MD 20874 205038820 TECH & MGT SERVICE DE C 0 TAG MARKETING LLC 20030 CENTURY BLVD GERMANTOWN MD 20874 262896006 MARKETING SRVCS DE C 0 THE ASBURY GROUP INTEGRATED TECHNOLOGIES LLC 20030 CENTURY BLVD GERMANTOWN MD 20874 262896175 INFOR & CNSLT SVCS DE C 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0