2025-11-12T14:50:49-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 1966 GREENSPRING DRIVE SUITE 300 TIMONIUM MD 210934161 990 2024-01-01 520607956 ASBURY ATLANTIC INC ASBU 3012502100 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 ANDREW JEANNERET TREASURER 3012502100 2025-11-11 1 0 JEFF PARKER P00970069 4104530900 2025-11-11 2024 2025-03-06 01:10:19Z DOUG LEIDIG 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 310914175 0 X WWW.ASBURYMETHODISTVILLAGE.ORG X 1945 MD EXPLORING POSSIBILITIES TO LIVE YOUR BEST LIFE BY DOING ALL THE GOOD WE CAN WITH INTEGRITY, TRANSPARENCY, AND GRACE. 5 4 0 480 0 0 13258053 7952066 178324472 188723190 6640597 15988658 163091 190361 198386213 212854275 3495628 3086425 0 0 73380883 75457543 0 0 685028 106919785 107718891 183796296 186262859 14589917 26591416 547451129 566097456 599147223 591394272 -51696094 -25296816 X OUR MISSION IS EXPLORING POSSIBILITIES TO LIVE YOUR BEST LIFE BY DOING ALL THE GOOD WE CAN WITH INTEGRITY, TRANSPARENCY, AND GRACE. 0 0 63951819 296981 94197809 RESIDENTIAL LIVING FACILITIES: OPERATION OF 1,675 RESIDENTIAL LIVING UNITS FOR THE AGED, PROVIDING 529,699 DAYS OF SERVICE IN 2024. $296,981 OF BENEVOLENT CARE AND $469,378 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTIAL LIVING RESIDENTS DURING 2024. ALSO PROVIDED HEALTH AND WELLNESS PROGRAMMING AND SERVICE TO RESIDENTS. 52077238 0 59748654 SKILLED NURSING FACILITIES:OPERATION OF 4 SKILLED NURSING FACILITIES (SNF'S) FOR THE AGED WITH 379 TOTAL BEDS PROVIDING 127,355 DAYS OF SERVICE IN 2024. $21,278,505 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTS OF THE SNF IN 2024. 23098689 2789444 34776727 ASSISTED LIVING FACILITIES: OPERATION OF 4 ASSISTED LIVING FACILITIES FOR THE AGED WITH 292 TOTAL SUITES PROVIDING 100,379 RESIDENT DAYS IN 2024. $2,789,444 OF BENEVOLENT CARE AND $1,301,094 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO THE ASSISTED LIVING RESIDENTS IN 2024. 139127746 1 1 0 1 0 0 1 0 1 1 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X X ANDREW JEANNERET 3012502100 5285 WESTVIEW DRIVE FREDERICK MD 21703 TODD ANDREWS PRESIDENT/EX-OFFICIO 2.00 38.00 X X 0 515274 31937 JEFFREY ERNICO CHAIR 2.00 2.00 X X 0 15000 0 EFONDA SPROLES VICE CHAIR 2.00 2.00 X X 0 10000 0 RICHARD SHUMAN DIRECTOR 2.00 4.00 X 0 6600 0 BARBARA HARBISON DIRECTOR 2.00 0.00 X 0 0 0 ANDREW JEANNERET TREASURER 1.00 39.00 X 0 706567 37011 ANDREW JOSEPH SECRETARY 1.00 39.00 X 0 519805 26880 MICHELLE POTTER EXECUTIVE DIRECTOR (AMV) 40.00 0.00 X 0 309079 28455 BRIAN GRUNDUSKY EXECUTIVE DIRECTOR (SH) 40.00 0.00 X 0 268562 26329 KELLY FRIEDMAN EXECUTIVE DIRECTOR (AS) 40.00 0.00 X 0 251885 26584 AARON PRAETZEL EXECUTIVE DIRECTOR (BV) 40.00 0.00 X 0 194882 33148 SUSAN AVITAN SR. DIRECTOR, FOUNDATION (AMV) 40.00 0.00 X 0 162938 14921 RACHEL KARISH ASSOCIATE EXECUTIVE DIRECTOR 40.00 0.00 X 0 215905 23470 MACELINE YAYA DIRECTOR OF NURSING 40.00 0.00 X 0 188275 17412 JEANETTE LUKULAY NURSE, RN 40.00 0.00 X 0 160749 19704 PAULA MEJIA REGIONAL HR DIRECTOR 40.00 0.00 X 0 178796 7099 0 3704317 292950 62 0 1 0 0 7952066 7952066 NET RESIDENT REVENUE 623000 123318957 123318957 MEDICARE/MEDICAID PAYMENTS 623000 33211173 33211173 AMORTIZATION OF ENTRANCE FEES 623000 30025130 30025130 OTHER OPERATING REVENUE 623000 2167930 2167930 188723190 5826139 5826139 268115 77754 190361 190361 190361 107585801 558864 97951846 30300 9633955 528564 10162519 10162519 212854275 188723190 0 16179019 3086425 3086425 61866710 51538889 9709154 618667 1832893 1456539 358025 18329 6954727 4775077 2179650 4803213 4076030 679151 48032 19713418 19713418 89820 89820 149512 149512 9030197 8697222 332975 515009 515009 4282666 2459915 1822751 3462979 59102 3403877 6596733 6596733 198955 110256 88699 10496938 10460912 36026 28797142 28698522 98620 2095323 2095323 REPAIRS & MAINTENANCE 6985639 6925269 60370 FOOD 6620006 6614913 5093 TAXES(PROPERTY & OTHER) 4342668 116035 4226633 MEDICAL SUPPLIES/PHARMA 1871236 1868250 2986 2470650 1587657 882993 186262859 139127746 46450085 685028 6669481 8332523 66972132 55947463 5509193 6177308 5005142 6550933 249991 295797 3496419 3101830 686805336 413832324 266376676 272973012 54407195 64718981 138764900 147999609 547451129 566097456 6435371 6196418 189273655 197056683 244989775 241547559 35983 21852 158412439 146571760 599147223 591394272 X -94106275 -67812755 42410181 42515939 -51696094 -25296816 547451129 566097456 X 26591416 -1992021 1799883 X X 0 1 X 1 0 X 13001834 9801226 8189035 13258053 7952066 52202214 164996830 162155886 170003328 178324472 188723190 864203706 177998664 171957112 178192363 191582525 196675256 916405920 9746 257803 17644 16639 12039 313871 0 9746 257803 17644 16639 12039 313871 916092049 3507913 1968534 2565585 4763801 6094254 18900087 3507913 1968534 2565585 4763801 6094254 18900087 181506577 173925646 180757948 196346326 202769510 935306007 0.97950 0.98100 0.02020 0.01850 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 5069 5069 0 PART II-B, LINE 1: A PORTION OF ASBURY ATLANTIC'S DUES TO LEADINGAGE WERE USED FOR ADVOCACY ISSUES RELATED TO RESIDENTIAL AND HEALTHCARE SERVICES FOR THE AGED. X 1 0 0 1 X 36809831 1267576 38077407 35325230 1484601 36809831 33588400 1736830 35325230 29823225 3765175 33588400 30007751 -212739 29823225 0.00000 1.00000 0.00000 0 1 1 19530377 19530377 441700974 293578717 148122257 160211052 69892883 90318169 64538292 50360724 14177568 824641 824641 272973012 INTEREST IN NET ASSETS OF FOUNDATION 35166561 DEFERRED MARKETING COSTS 253720 OTHER RECEIVABLE 913496 DUE FROM ACOMM 108217175 DEPOSITS AND OTHER ASSETS 21852 RIGHT OF USE ASSETS 727819 VALUATION OF DERIVATIVE INSTRUMENTS 2698986 147999609 REFUNDABLE FEES 5584436 OBLIGATION-DEFERRED GIVING 141147 CONTINGENT REFUNDABLE ENTRANCE FEE 135549148 RESIDENT DEPOSITS 4600095 LEASES PAYABLE 696934 146571760 X 209653465 -1992021 -1286543 -3278564 212932029 -77754 -77754 212854275 183254187 77754 77754 183176433 3086426 3086426 186262859 PART II, LINE 9: ASBURY ATLANTIC, INC. HAS A 15 ACRE FOREST CONSERVATION EASEMENT, LOCATED ON ITS ASBURY METHODIST VILLAGE CAMPUS, 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 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 PRIMARY INTENDED USE OF THE ENDOWMENT FUND IS TO SUPPORT BENEVOLENT CARE. PART X, LINE 2: ASBURY ATLANTIC 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 AS THERE ARE NO UNRELATED TRADES OR BUSINESSES. 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'S REASSESSMENT OF ITS TAX POSITIONS DID NOT HAVE A MATERIAL IMPACT ON THE COMPANY'S RESULTS OF OPERATIONS OR FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET UNREALIZED GAINS ON CHANGE IN MARKET VALUE OF DERIVATIVE INSTRUMENTS 439,439. CHANGE IN VALUE OF OBLIGATIONS UNDER CHARITABLE GIFT ANNUITIES -24,074. BENEVOLENT CARE -3,086,426. CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION 1,993,018. TRANSFERS TO ACOMM -608,500. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENT EXPENSES -77,754. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 77,754. PART XII, LINE 4B - OTHER ADJUSTMENTS: BENEVOLENT CARE 3,086,426. 1 BENEVOLENT CARE FOR ASSISTED LIVING AND RESIDENTIAL LIVING RESIDENTS 58 3086425 PART I, LINE 2: ALL RESIDENTS SEEKING BENEVOLENT CARE FINANCIAL SUPPORT MUST COMPLETE AN APPLICATION WHICH SHALL BE REVIEWED IN ACCORDANCE WITH BENEVOLENT CARE POLICIES AND PROCEDURES, WHICH MAY BE REVISED FROM TIME TO TIME. BENEVOLENT CARE SUPPORT IS DEPENDENT UPON MEETING SPECIFIC REQUIREMENTS AND THE ORGANIZATION'S ABILITY TO PROVIDE FINANCIAL AID. DOCUMENTS RELATED TO BENEVOLENT CARE APPLICATION/REDETERMINATION AND ON-GOING MANAGEMENT WILL BE MAINTAINED ON-SITE UNTIL THE END OF THE CALENDAR YEAR IN WHICH THE RESIDENT IS NO LONGER RECEIVING ASSISTANCE FROM BENEVOLENT CARE. THEREAFTER THE RECORDS WILL BE MAINTAINED FOR FIVE (5) YEARS, EITHER ON-SITE OR IN STORAGE IN ACCORDANCE WITH THE RECORDS MANAGEMENT PROGRAM. 0 1 0 0 0 0 0 0 0 ANDREW JEANNERET TREASURER 0 391925 0 248645 0 65997 0 17041 0 19970 0 743578 0 0 TODD ANDREWS PRESIDENT/EX-OFFICIO 0 316434 0 197795 0 1045 0 15228 0 16709 0 547211 0 0 ANDREW JOSEPH SECRETARY 0 305666 0 168128 0 46011 0 8904 0 17976 0 546685 0 0 MICHELLE POTTER EXECUTIVE DIRECTOR (AMV) 0 259011 0 47948 0 2120 0 10402 0 18053 0 337534 0 0 BRIAN GRUNDUSKY EXECUTIVE DIRECTOR (SH) 0 215215 0 52886 0 461 0 6359 0 19970 0 294891 0 0 KELLY FRIEDMAN EXECUTIVE DIRECTOR (AS) 0 207106 0 42943 0 1836 0 8531 0 18053 0 278469 0 0 RACHEL KARISH ASSOCIATE EXECUTIVE DIRECTOR 0 189361 0 26363 0 181 0 6761 0 16709 0 239375 0 0 AARON PRAETZEL EXECUTIVE DIRECTOR (BV) 0 155450 0 38115 0 1317 0 7282 0 25866 0 228030 0 0 MACELINE YAYA DIRECTOR OF NURSING 0 167083 0 21060 0 132 0 6701 0 10711 0 205687 0 0 PAULA MEJIA REGIONAL HR DIRECTOR 0 152774 0 25491 0 531 0 6343 0 756 0 185895 0 0 JEANETTE LUKULAY NURSE, RN 0 159886 0 589 0 274 0 3525 0 16179 0 180453 0 0 SUSAN AVITAN SR. DIRECTOR, FOUNDATION (AMV) 0 142280 0 19225 0 1433 0 5810 0 9111 0 177859 0 0 PART I, LINE 3 THE ASBURY COMMUNITIES, INC. 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 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) 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 2,100 TOTAL EMPLOYEES IN THE ASBURY COMMUNITIES, INC. SYSTEM. THE 2024 CONSOLIDATED AUDITED FINANCIAL STATEMENTS FOR ASBURY COMMUNITIES, INC. HAD TOTAL REVENUES IN EXCESS OF OF $299 MILLION AND TOTAL ASSETS IN EXCESS OF $647 MILLION. A CITY OF GAITHERSBURG (MD) 526000792 363128CUI 2018-10-01 105744965 CURRENT REFUNDING 0 0 0 B CITY OF GAITHERSBURG 526000792 NONEAVAIL 2019-11-08 16009000 CURRENT REFUNDING 0 0 0 C CUMBERLAND COUNTY MUNICIPAL AUTHORITY 236003119 230614PE3 2019-12-31 63444415 CURRENT REFUNDING 0 0 0 D CUMBERLAND COUNTY MUNICIPAL AUTHORITY 236003119 230614RK7 2021-10-04 48700468 CURRENT REFUNDING 0 0 0 A 25279965 105744965 8469375 624780 7508636 89142174 2018 1 0 1 1 B 12370000 16009000 5000000 11009000 2019 1 0 1 1 C 12299415 63444415 5284147 1155121 57005147 2019 1 0 1 1 D 4240468 48700468 832915 47867553 2021 1 0 1 1 A 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 1 TRUIST BANK 2.000000000000 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 1 1 TRUIST BANK 9.670000000000 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: 10/01/2024 ISSUER NAME: CITY OF GAITHERSBURG DATE THE REBATE COMPUTATION WAS PERFORMED: 11/01/2024 ISSUER NAME: CUMBERLAND COUNTY MUNICIPAL AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 01/01/2024 SCHEDULE K, PART I, LINE 14 DATE OF REFUNDED ISSUANCES: (A) 11/30/2006 (SERIES 2006A) AND 04/09/2014 (SERIES 2014A) (B) 12/16/2009 (SERIES 2009B) (C) 11/10/2010 (SERIES 2010) (D) 10/31/2012 (SERIES 2012) A CUMBERLAND COUNTY MUNICIPAL AUTHORITY 236003119 NONEAVAIL 2022-07-26 18000000 CAPITAL IMPROVEMENTS 0 0 0 B CITY OF GAITHERSBURG MARYLAND 526000792 363128CY3 2022-05-18 37970099 CAPITAL IMPROVEMENTS 0 0 0 A 460916 18000000 302671 17697329 2024 0 0 1 1 B 37970099 750562 37219537 2024 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 1 TRUIST BANK 13.500000000000 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 FORM 990, PART III, LINE 4 I. ORGANIZATION OVERVIEW ASBURY ATLANTIC, INC., A 501(C)(3) NOT-FOR-PROFIT MARYLAND CORPORATION, IS THE OWNER AND OPERATOR OF THE FOLLOWING SENIOR LIVING COMMUNITIES: -ASBURY METHODIST VILLAGE (GAITHERSBURG, MD) -ASBURY SOLOMONS (SOLOMONS, MD) -BETHANY VILLAGE (MECHANICSBURG, PA) -SPRINGHILL (ERIE, PA) ASBURY ATLANTIC IS RESPONSIBLE FOR PROVIDING A FULL CONTINUUM OF SERVICES AT THESE COMMUNITIES, INCLUDING INDEPENDENT LIVING, ASSISTED LIVING, SKILLED NURSING, MEMORY SUPPORT, AND REHABILITATION. IN ADDITION, BETHANY VILLAGE IS HOME TO BETHANY TOWERS, A HUD-SUBSIDIZED SENIOR HOUSING BUILDING WITH 149 AFFORDABLE APARTMENTS. IN 2024, BETHANY VILLAGE OFFERED BETHANY TOWERS RESIDENTS FREE ACCESS TO ITS FITNESS CENTER, GROUP CLASSES, AND POOL AS PART OF ITS COMMITMENT TO PROMOTING WELLNESS AND SOCIAL ENGAGEMENT. ASBURY COMMUNITIES, INC., A NOT-FOR-PROFIT MARYLAND CORPORATION, IS THE SOLE MEMBER AND SUPPORTING ORGANIZATION OF ASBURY ATLANTIC. ASBURY COMMUNITIES PROVIDES SYSTEMWIDE ADMINISTRATIVE, OPERATIONAL, AND STRATEGIC SUPPORT FOR A NETWORK OF NOT-FOR-PROFIT SENIOR LIVING AND HEALTH SERVICE PROVIDERS. THE ASBURY SYSTEM ORIGINATED WITH ASBURY METHODIST VILLAGE IN 1926, 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." II. PROGRAM SERVICES PROVIDED SECTION A. BENEVOLENT CARE BENEVOLENT CARE IS FINANCIAL SUPPORT PROVIDED TO ELIGIBLE RESIDENTS WHO HAVE EXHAUSTED THEIR FINANCIAL RESOURCES THROUGH NO FAULT OF THEIR OWN AND MEET THE APPROVAL CRITERIA. 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 $191,277 TOTAL: $3,722,720 SECTION B. UNREIMBURSED MEDICAL SERVICES UNREIMBURSED MEDICAL SERVICES REPRESENT THE COST OF CARE DELIVERED IN SKILLED NURSING CENTERS THAT EXCEED REIMBURSEMENT PROVIDED BY MEDICAID AND OTHER GOVERNMENT PAYORS. THESE UNREIMBURSED COSTS REFLECT THE ORGANIZATION'S COMMITMENT TO QUALITY CARE REGARDLESS OF A RESIDENT'S ABILITY TO PAY. UNREIMBURSED CARE COSTS FOR 2024 INCLUDE: -ASBURY METHODIST VILLAGE $2,506,365 -ASBURY SOLOMONS $588,027 -BETHANY VILLAGE $582,128 -NORMANDIE RIDGE $868,236 -RIVERWOODS $2,968,367 -SPRINGHILL $735,967 TOTAL: $8,249,090 SECTION C. COMMUNITY BENEFIT ASBURY ATLANTIC IS COMMITTED TO ENHANCING THE WELL-BEING OF THE BROADER COMMUNITY THROUGH PARTNERSHIPS, OUTREACH, AND THE SHARING OF RESOURCES. EACH CAMPUS FOSTERS STRONG RELATIONSHIPS WITH SERVICE ORGANIZATIONS, EDUCATIONAL INSTITUTIONS, AND NONPROFITS TO ADDRESS LOCAL NEEDS AND EXPAND THE ORGANIZATION'S MISSION BEYOND ITS CAMPUSES. EXAMPLES OF 2024 COMMUNITY BENEFIT ACTIVITIES INCLUDE: -HOSTING INTERNSHIPS, CLINICAL ROTATIONS, AND JOB SHADOWING TO PREPARE THE NEXT GENERATION OF CAREGIVERS AND AGING SERVICES PROFESSIONALS. -LEADING ENERGY-EFFICIENCY INITIATIVES AND ENVIRONMENTAL STEWARDSHIP PROJECTS IN SUPPORT OF THE CHESAPEAKE BAY AND LOCAL ECOSYSTEMS -SUPPORTING AT-RISK YOUTH AND FAMILIES THROUGH LOCAL MENTORING AND ADVOCACY PROGRAMS -DELIVERING AND MANAGING MEALS ON WHEELS PROGRAMS AND ENGAGING RESIDENT AND ASSOCIATE VOLUNTEERS IN DELIVERY ROUTES -DONATING EVENT SPACE AND MEETING ROOMS TO CIVIC AND NONPROFIT GROUPS -DONATING MEDICAL EQUIPMENT, FOOD, AND HOUSEHOLD ITEMS TO INDIVIDUALS AND ORGANIZATIONS SERVING THOSE IN NEED -RAISING FUNDS FOR NATIONAL ORGANIZATIONS SUCH AS THE ALZHEIMER'S ASSOCIATION AND SUPPORTING LOCAL CHARITABLE CAUSES -OFFERING FREE EDUCATIONAL PROGRAMS TO OLDER ADULTS AND FAMILY CAREGIVERS ON TOPICS INCLUDING WELLNESS, MEMORY CARE, AND TECHNOLOGY -SHARING INNOVATIVE PRACTICES AND WELLNESS INITIATIVES WITH INDUSTRY PEERS THROUGH COMMUNITY-HOSTED PRESENTATIONS III. ASBURY FOUNDATION SUPPORT THE ASBURY FOUNDATION, A 501(C)(3) NOT-FOR-PROFIT MARYLAND CORPORATION, RAISES AND STEWARDS PHILANTHROPIC GIFTS TO BENEFIT RESIDENTS AND ASSOCIATES ACROSS THE ASBURY SYSTEM. IN 2024, THE FOUNDATION RAISED MORE THAN $300,000 IN SCHOLARSHIP FUNDS FOR CAREER DEVELOPMENT, PRIMARILY IN NURSING AND HEALTHCARE FIELDS. ADDITIONAL FOUNDATION SUPPORT FUNDED BENEVOLENT CARE, WELLNESS PROGRAMS, AND CAMPUS ENHANCEMENTS THAT DIRECTLY IMPACT RESIDENT QUALITY OF LIFE. IV. SUMMARY STATEMENT ASBURY ATLANTIC, INC. FULFILLS ITS NOT-FOR-PROFIT MISSION BY PROVIDING COMPASSIONATE, HIGH-QUALITY SERVICES TO OLDER ADULTS AND BY INVESTING IN ITS PEOPLE AND THE COMMUNITIES IT SERVES. THROUGH BENEVOLENT CARE, UNREIMBURSED MEDICAL SERVICES, AND MEANINGFUL COMMUNITY PARTNERSHIPS, ASBURY ATLANTIC CONTINUES TO MAKE A MEASURABLE DIFFERENCE IN THE LIVES OF THOSE IT SERVES. FORM 990, PART VI, SECTION A, LINE 1A THE CORPORATION MAY HAVE AN EXECUTIVE COMMITTEE AS SET FORTH HEREIN. THE CHAIR OF THE BOARD OF DIRECTORS SHALL SERVE AS CHAIR OF THE EXECUTIVE COMMITTEE AND MAY APPOINT TWO (2) ADDITIONAL DIRECTORS TO SERVE ON THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE MAY ACT IN PLACE OF THE BOARD WHEN THERE IS BUSINESS OF THE CORPORATION TO BE TRANSACTED BETWEEN REGULAR MEETINGS AND CONVENING A SPECIAL MEETING WAS DEEMED BY THE CHAIR TO NOT BE NECESSARY OR POSSIBLE. THE FULL BOARD WILL BE NOTIFIED WITHIN FIFTEEN (15) DAYS OF ANY ACTIONS OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE WILL HAVE NO POWER TO TAKE ACTION THAT IS RESTRICTED BY APPLICABLE LAW. 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; (5) APPROVAL OF THE BUDGET OF THE CORPORATION, BOTH OPERATING AND CAPITAL; (6) AUTHORITY AND RESPONSIBILITY TO APPROVE ANY PROPOSED PROJECT FOR THE DEVELOPMENT OF A NEW PRODUCT AND/OR FACILITY BY THE CORPORATION; (7) AUTHORITY TO APPROVE EACH INCURRENCE OF INDEBTEDNESS OF THE CORPORATION WITH A REPAYMENT TERM THAT IS IN EXCESS OF FIVE (5) YEARS AND IS SECURED BY THE ASSETS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B ASBURY COMMUNITIES, INC., THE SOLE MEMBER OF ASBURY ATLANTIC, INC., DELEGATES REVIEW OF THE FORM 990 TO ITS AUDIT, FINANCE, AND INVESTMENT COMMITTEE (AFIC) WHICH PERFORMED ITS REVIEW ON 10/29/25. ADDITIONALLY, THE ASBURY COMMUNITIES, INC. AND ASBURY ATLANTIC, INC. BOARD OF DIRECTORS WERE FORWARDED A COPY OF THE DRAFT 990 FOR REVIEW AND WERE PROVIDED A LINK TO A RECORDING OF THE AFIC 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 STAFF AND THE AFIC. FORM 990, PART VI, SECTION B, LINE 12C THE ASBURY COMMUNITIES CONFLICT OF INTEREST POLICY WAS APPROVED BY THE BOARD OF DIRECTORS. THE COMPLIANCE OFFICER 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 KEY MANAGEMENT POSITIONS. EACH PERSON COMPLETES A CONFLICT OF INTEREST DISCLOSURE FORM AND IS ADVISED OF THEIR FIDUCIARY OBLIGATIONS. THE COMPLIANCE OFFICER, WHO HAS A DIRECT REPORTING LINE TO THE CHAIR OF THE GOVERNANCE AND NOMINATIONS COMMITTEE AND REPORTS QUARTERLY TO THE GOVERNANCE AND NOMINATIONS COMMITTEE, ANALYZES ALL DISCLOSURE FORMS FOR POTENTIAL CONFLICTS, AND PREPARES A REPORT FOR THE SYSTEM-WIDE GOVERNANCE AND NOMINATIONS COMMITTEE. A REPORT WAS MADE TO THE BOARD THAT THERE WERE NO CONFLICTS DURING 2024. WHEN AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST ARISES INVOLVING A BOARD OR COMMITTEE MEMBER, THE GOVERNANCE AND NOMINATIONS COMMITTEE IS INFORMED AND WILL FOLLOW SPECIFIC PROTOCOL OUTLINED IN THE CONFLICT OF INTEREST POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION B, LINE 15 THE FOLLOWING PROCESS IS USED BY ASBURY COMMUNITIES, INC., A RELATED ORGANIZATION: ON AN ANNUAL BASIS, THE COMPENSATION COMMITTEE RELIES ON STAFF FEEDBACK AND THE DATA AND RECOMMENDATIONS PROVIDED BY AN EXTERNAL COMPENSATION CONSULTANT TO ASCERTAIN THE REASONABLENESS OF COMPENSATION AND BENEFITS OF ALL OF THE DIRECT REPORTS OF THE CEO AND OTHER POTENTIALLY DISQUALIFIED PERSONS. IN ADDITION, THE COMPENSATION COMMITTEE REVIEWS THE ORGANIZATION'S PROGRESS TOWARDS KEY PERFORMANCE INDICATORS SELECTED FOR INCENTIVIZING PERFORMANCE OF DISQUALIFIED PERSONS THROUGH A PERFORMANCE BASED-COMPENSATION PROGRAM. QUARTERLY, THE COMPENSATION COMMITTEE REVIEWS UPDATES TO THE OVERALL BENEFITS AND COMPENSATION PLAN FOR THE ORGANIZATION AS WELL AS PROGRESS ON THE ORGANIZATION'S STRATEGIC GOALS. THE COMPENSATION COMMITTEE CHARTER, THE EXECUTIVE COMPENSATION PHILOSOPHY, AND THE EXECUTIVE INCENTIVE PLAN WERE REVIEWED MOST RECENTLY IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET UNREALIZED GAIN ON CHANGE IN MARKET VALUE OF DERIVATIVE INSTRUMENTS 439,439. CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION 1,993,018. TRANSFER TO ACOMM -608,500. CHANGE IN VALUE OF OBLIGATIONS UNDER CHARITABLE GIFT ANNUITIES -24,074. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN OVERSIGHT PROCESS FROM THE PRIOR YEAR. 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