Asbury Foundation Inc

What it reported doing in 2024

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 init

Financial Efficiency

• Mission deployment rate: 93.7%; rating input score 94
• Program expense ratio: 81.7%; rating input score 82
• Fundraising efficiency: $4.34 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 77.8%; rating input score 78; 14th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 2.9%; rating input score 46; 46th percentile among comparable filings
• Total-asset coverage ratio: 5.17; rating input score 85; 85th percentile among comparable filings
• Liabilities to assets ratio: 0.37; rating input score 39; 39th percentile among comparable filings
• Officer compensation ratio: 1.1%; rating input score 85; 85th percentile among comparable filings

Growth

• Program expense growth: 18.7% per year; rating input score 100; 88th percentile among comparable filings
• Revenue growth: 9.2% per year; rating input score 100; 71st percentile among comparable filings
• Asset growth: 7.7% per year; rating input score 100; 53rd percentile among comparable filings