2025-11-12T14:48:19-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 475 REGENCY PARK SUITE 175 OFALLON IL 62269 990 2024-01-01 521862677 ASBURY COMMUNITIES INC ASBU 3012502100 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 ANDREW JEANNERET CFO 3012502100 2025-11-11 1 0 JEFF PARKER P00970069 6182331200 2025-11-11 2024 2025-03-06 01:10:19Z DOUG LEIDIG 5285 WESTVIEW DRIVE 200 FREDERICK MD 21703 29744436 0 X WWW.ASBURY.ORG X 1994 MD EXPLORING POSSIBILITIES TO LIVE YOUR BEST LIFE BY DOING ALL THE GOOD WE CAN WITH INTEGRITY, TRANSPARENCY, AND GRACE. 11 10 0 0 0 0 0 0 21392699 20811065 30842 1622466 0 0 21423541 22433531 0 0 0 0 16386610 15862903 0 0 0 5352184 5886577 21738794 21749480 -315253 684051 15512155 22027328 62876144 77180641 -47363989 -55153313 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 16625505 0 20811065 ASBURY COMMUNITIES, INC. ("ASBURY") IS A TAX-EXEMPT, NOT-FOR-PROFIT, SUPPORTING ORGANIZATION PURSUANT TO 501(C)(3) AND 509(A)(3) OF THE INTERNAL REVENUE CODE. ASBURY PROVIDES DEFINED BUSINESS, ADMINISTRATIVE, AND OPERATIONAL SUPPORT TO A SYSTEM OF 501(C)(3) TAX-EXEMPT, NOT-FOR-PROFIT SUPPORTED ORGANIZATIONS THAT PROVIDE RESIDENTIAL LIVING AND HEALTH CARE SERVICES TO THE AGED. BEYOND RESIDENTIAL HOUSING FOR THE AGED, THE SUPPORTED ORGANIZATIONS ALSO PROVIDE ASSISTED LIVING, SKILLED NURSING, LONG TERM CARE, PACE (LIFE) PROGRAMMING, REHABILITATION, PHARMACY, AND OTHER ANCILLARY SERVICES PURSUANT TO THEIR RESPECTIVE NOT-FOR-PROFIT MISSIONS.I. ORGANIZATION OVERVIEWASBURY 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. ASBURY PROVIDES CENTRALIZED BUSINESS, ADMINISTRATIVE, OPERATIONAL, AND STRATEGIC SUPPORT TO A SYSTEM OF NOT-FOR-PROFIT, TAX-EXEMPT ORGANIZATIONS DEDICATED TO SERVING OLDER ADULTS BY PROVIDING HIGH QUALITY RESIDENTIAL LIVING AND HEALTH CARE SERVICES.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 PROGRAMS - ALL 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."II. PROGRAM SERVICES PROVIDEDSECTION 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 A PORTION OF THE 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 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 $735,967TOTAL: $8,249,090SECTION C: COMMUNITY BENEFITAS A NOT-FOR-PROFIT ORGANIZATION, ASBURY COMMUNITIES IS COMMITTED TO ENRICHING THE LIVES OF INDIVIDUALS BOTH WITHIN AND BEYOND THE WALLS OF ITS COMMUNITIES. THROUGH COLLABORATION, EDUCATION, AND OUTREACH, ASBURY EXPANDS ITS IMPACT BY ADDRESSING UNMET NEEDS AND BUILDING STRONG COMMUNITY PARTNERSHIPS. IN 2024, THESE EFFORTS INCLUDED:-PROVIDING INTERNSHIPS, MENTORSHIPS, AND CLINICAL ROTATIONS TO PREPARE FUTURE PROFESSIONALS IN AGING SERVICES AND HEALTHCARE-ADVANCING ENVIRONMENTAL SUSTAINABILITY THROUGH INITIATIVES THAT REDUCE ENERGY USE AND PROTECT NATURAL RESOURCES, INCLUDING THE CHESAPEAKE BAY-SUPPORTING YOUTH AND FAMILIES THROUGH SCHOOL PARTNERSHIPS, MENTORING, AND CIVIC ENGAGEMENT-PARTICIPATING IN OR MANAGING MEALS ON WHEELS PROGRAMS AND ENGAGING ASSOCIATES AND RESIDENTS IN DELIVERY EFFORTS-OFFERING FREE SPACE AND FACILITIES TO LOCAL CIVIC AND NONPROFIT ORGANIZATIONS-DONATING EQUIPMENT, SUPPLIES, AND GOODS TO COMMUNITY MEMBERS IN NEED-FUNDRAISING FOR NATIONAL AND LOCAL CAUSES, INCLUDING THE ALZHEIMER'S ASSOCIATION, HOMELESS SHELTERS, AND FOOD BANKS-PROVIDING WELLNESS AND EDUCATIONAL PROGRAMMING FOR SENIORS AND FAMILY CAREGIVERS-SHARING INNOVATIVE WELLNESS MODELS AND TECHNOLOGY APPROACHES THROUGH PEER-TO-PEER AND PROFESSIONAL PRESENTATIONSIII. ASBURY FOUNDATION SUPPORTTHE 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 CONTINUED ITS LONGSTANDING COMMITMENT TO BENEVOLENT CARE AND WELLNESS PROGRAMS AND PROVIDED OVER $300,000 IN SCHOLARSHIPS TO SUPPORT CAREER DEVELOPMENT, WITH A FOCUS ON NURSING AND HEALTHCARE FIELDS.THESE SCHOLARSHIPS HELP ADDRESS THE NATIONAL SHORTAGE OF QUALIFIED HEALTHCARE WORKERS BY REMOVING FINANCIAL BARRIERS TO EDUCATION AND ENABLING CAREER ADVANCEMENT OFTEN FOR ASSOCIATES SUPPORTING FAMILIES OR RETURNING TO SCHOOL MID-CAREER. SCHOLARSHIPS ARE ALSO AWARDED TO ASSOCIATES PURSUING PROFESSIONAL DEVELOPMENT IN NON-CLINICAL FIELDS, CONTRIBUTING TO A WELL-ROUNDED AND MISSION-DRIVEN WORKFORCE.IV. SUMMARY STATEMENTASBURY COMMUNITIES, INC. AND ITS SUPPORTED ORGANIZATIONS REMAIN FIRMLY COMMITTED TO ADVANCING THEIR MISSION THROUGH BENEVOLENT CARE, UNREIMBURSED SERVICES, AND COMMUNITY OUTREACH. AS A SUPPORTING ORGANIZATION, ASBURY AMPLIFIES THE CAPACITY OF THE SYSTEM TO DELIVER HOLISTIC, COMPASSIONATE CARE AND TO BE A TRUSTED PARTNER IN THE AGING SERVICES SECTOR. 16625505 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 387 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ANDREW JEANNERET 3012502100 5285 WESTVIEW DRIVE FREDERICK MD 21703 X DOUG LEIDIG PRESIDENT/EX-OFFICIO 35.00 5.00 X X 0 1372281 38911 R SCOTT COOLIDGE CHAIR 2.00 0.00 X X 16000 0 0 JULIE GILBERT VICE CHAIR 2.00 0.00 X X 15000 0 0 CHRISTINA CROLL DIRECTOR 2.00 0.00 X 8000 0 0 JEFFREY ERNICO DIRECTOR 2.00 2.00 X 15000 0 0 MELISSA FORS SHACKELFORD DIRECTOR 2.00 0.00 X 15000 0 0 EFONDA SPROLES DIRECTOR 2.00 2.00 X 10000 0 0 RICHARD SHUMAN DIRECTOR 2.00 4.00 X 6600 0 0 C ERIC WINZER DIRECTOR 2.00 0.00 X 15000 0 0 JEAN A MACHART DIRECTOR 2.00 0.00 X 15000 0 0 LARRY PARKS DIRECTOR 2.00 0.00 X 10000 0 0 ANDREW JEANNERET CFO/TREASURER 32.00 8.00 X 0 706567 37011 ANDREW JOSEPH GENERAL COUNSEL/SECRETARY 32.00 8.00 X 0 519805 26880 TODD ANDREWS ASST. SECRETARY 38.00 2.00 X 0 515274 31937 SHAUN SMITH CHIEF OFFICER 37.00 3.00 X 0 439768 38649 MICHAEL BARTOSZEK CHIEF OFFICER 40.00 0.00 X 0 448403 12987 KIMBERLY EHRENFRIED VICE PRESIDENT 40.00 0.00 X 0 294672 37252 BRIAN DAVENPORT VICE PRESIDENT 40.00 0.00 X 0 280416 32382 BRIANA STEWART SENIOR VICE PRESIDENT 40.00 0.00 X 0 280030 18095 JONATHAN MORRISON SR. DIRECTOR 40.00 0.00 X 0 260383 28927 125600 5117599 303031 43 0 1 0 SODEXO INC & AFFILIATES 3181 SHORE DRIVE VIRGINIA BEACH VA 23451 DINING, MAINT, HKP, LAUNDRRY 36078731 CARDINAL HEALTH 110 LLC 7000 CARDINAL PLACE DUBLIN OH 43017 PHARMACEUTICAL DISTRIBUTOR 7324167 WAGMAN CONSTRUCTION INC 3290 SUSQUEHANNA TRAIL NORTH YORK PA 17406 CONSTRUCTION 2797821 RT GLOBAL INFOSOLUTIONS PVT LTD 16 RAJIV GANDHI TECHNOLOGY PARK CHANDIGARH INDIA IN 16010-1 PROFESSIONAL STAFFING 1819423 THW DESIGN 2100 RIVEREDGE PARKWAY SUITE 900 ATLANTA GA 30328 ARCHITECTURE/DESIGN 1361444 125 MANAGEMENT FEES 541610 20811065 20811065 20811065 324851 324851 8608520 7310905 1297615 1297615 1297615 22433531 20811065 0 1622466 125600 106760 18840 13145884 11079949 2065935 887275 565941 321334 1004665 705423 299242 699479 648303 51176 318682 318682 438880 164005 274875 133473 133473 95605 95605 186751 186751 789667 177273 612394 843866 843675 191 349846 322095 27751 910643 910643 658042 658042 92725 92725 CONSULTING FEES 446507 350111 96396 BOARD RELATED EXPENSES 313399 313399 DUES AND SUBSCRIPTIONS 87042 85131 1911 RECRUITING/TRAINING 68654 58941 9713 152795 98701 54094 21749480 16625505 5123975 0 1236079 7690524 574250 534367 6302149 3695859 2463039 2606290 6104051 6567371 5134736 4628776 15512155 22027328 31253335 27416264 100460 31622809 49663917 62876144 77180641 X -47363989 -55153313 -47363989 -55153313 15512155 22027328 X 684051 -233045 -8240330 X X 0 1 X 1 1 1 X X X 7 ASBURY ATLANTIC INC 520607956 10 1 0 0 ASBURY COMMUNITIES HCBS INC 450634490 10 1 0 0 ASBURY FOUNDATION INC 521862674 7 1 0 0 ALBRIGHT CARE SERVICES 231887138 10 1 0 0 BETHANY DEVELOPMENT CORPORATION 232078064 10 1 0 0 ASBURY LIVING INC 933545102 10 1 0 0 ASBURY INC 620630670 10 1 0 0 7 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 SCHEDULE A, PART I, LINE 12G, COLUMN VI ASBURY COMMUNITIES, INC. PROVIDES SPECIFIC BUSINESS AND OPERATIONAL SERVICES AS WELL AS POLICY AND GUIDANCE TO ITS SUPPORTED ORGANIZATIONS, ASBURY ATLANTIC, INC., ASBURY COMMUNITIES HCBS, INC., ASBURY FOUNDATION, INC., ASBURY, INC., ALBRIGHT CARE SERVICES, ASBURY LIVING, INC., AND BETHANY DEVELOPMENT CORPORATION. ASBURY COMMUNITIES, INC. PROVIDES CLINICAL, OPERATIONAL, FINANCE, MARKETING, COMMUNICATIONS, LEGAL, HUMAN RESOURCES, COMPLIANCE, RISK MANAGEMENT, PROJECT DEVELOPMENT, AND STRATEGIC PLANNING SERVICES. ASBURY COMMUNITIES, INC. HAS A SERVICES AGREEMENT WITH ITS SUPPORTED ORGANIZATIONS THAT OUTLINES THE SERVICES PROVIDED. FOR THE PURPOSE OF SCHEDULE A PART I LINE 12G(VI), THE AMOUNT OF OTHER SUPPORT HAS NOT BEEN ATTRIBUTED TO ANY OF THE INDIVIDUAL SUPPORTED ORGANIZATIONS. HOWEVER, THE ORGANIZATION DOES BELIEVE THE AMOUNT OF SUPPORT PROVIDED TO THESE ENTITIES IS $21,498,953, A PORTION OF WHICH ASBURY COMMUNITIES IS REIMBURSED FOR. ALSO INCLUDED IN TOTAL EXPENSES IS $250,527 OF SUPPORT PROVIDED TO THE ASBURY GROUP, INC. FOR WHICH ASBURY COMMUNITIES IS REIMBURSED. THE TOTAL OF THESE AMOUNTS EQUALS $21,749,480 - TOTAL EXPENSE REPORTED IN PART IX IN THE FORM 990. SCHEDULE A, PART IV, SECTION E, LINE 3A THE ORGANIZATION'S BOARD OF DIRECTORS HAS RESERVED POWERS TO REMOVE AND ELECT DIRECTORS OF THE SUPPORTED ORGANIZATIONS. SCHEDULE A, PART IV, SECTION E, LINE 3B ASBURY COMMUNITIES, INC. PROVIDES CLINICAL, OPERATIONAL, FINANCE, MARKETING, COMMUNICATIONS, LEGAL, HUMAN RESOURCES, COMPLIANCE, RISK MANAGEMENT, PROJECT DEVELOPMENT, AND STRATEGIC PLANNING SERVICES. IN THAT REGARD, THE ORGANIZATION SETS OR PROVIDES SIGNIFICANT INPUT IN THE POLICIES AND PROCEDURES THAT GOVERN THESE FUNCTIONAL AREAS AT THE SUPPORTED ORGANIZATION. ADDITIONALLY, FOR PURPOSES OF EFFICIENCY, CERTAIN ACTIVITIES ARE CENTRALIZED AT THE ORGANIZATION'S HOME OFFICE AND THEREBY GUIDED BY THE POLICIES AND PROCEDURES AS SET BY THE ORGANIZATION. SCHEDULE A, PART IV, SECTION D, LINE 3 THE AUDIT, FINANCE AND INVESTMENT COMMITTEE MAKES RECOMMENDATIONS ON INVESTMENTS AND FINANCIAL MATTERS AND REVIEWS ALL OF THE ASBURY ENTITIES' BUDGETS PRIOR TO BEING PRESENTED TO THE BOARD OF THE SUPPORTING AND/OR SUPPORTED ORGANIZATIONS FOR ACTION. TO DATE THE RECOMMENDATIONS OF THE AUDIT, FINANCE AND INVESTMENT COMMITTEE HAVE BEEN FOLLOWED IN ALL INSTANCES. 395439 240970 154469 5906710 3454889 2451821 2606290 DEPOSITS 803615 INVESTMENT IN PRIVATE EQUITY FUND 192135 RIGHT OF USE ASSETS 1849258 INVESTMENT IN THE ASBURY GROUP, INC. 1291616 OTHER RECEIVABLES 492152 4628776 DUE TO SUPPORTED ORGANIZATIONS 47427924 LEASES PAYABLE 2235993 49663917 X PART X, LINE 2: ACOMM 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. X X X X X X 0 1 0 0 0 0 0 0 0 DOUG LEIDIG PRESIDENT/EX-OFFICIO 0 685159 0 610601 0 76521 0 10346 0 28565 0 1411192 0 0 ANDREW JEANNERET CFO/TREASURER 0 391925 0 248645 0 65997 0 17041 0 19970 0 743578 0 0 TODD ANDREWS ASST. SECRETARY 0 316434 0 197795 0 1045 0 15228 0 16709 0 547211 0 0 ANDREW JOSEPH GENERAL COUNSEL/SECRETARY 0 305666 0 168128 0 46011 0 8904 0 17976 0 546685 0 0 SHAUN SMITH CHIEF OFFICER 0 304781 0 132614 0 2373 0 12783 0 25866 0 478417 0 0 MICHAEL BARTOSZEK CHIEF OFFICER 0 296798 0 149625 0 1980 0 12987 0 0 0 461390 0 0 KIMBERLY EHRENFRIED VICE PRESIDENT 0 237281 0 56364 0 1027 0 8687 0 28565 0 331924 0 0 BRIAN DAVENPORT VICE PRESIDENT 0 232536 0 46900 0 980 0 3903 0 28479 0 312798 0 0 BRIANA STEWART SENIOR VICE PRESIDENT 0 239663 0 40183 0 184 0 9855 0 8240 0 298125 0 0 JONATHAN MORRISON SR. DIRECTOR 0 211228 0 47619 0 1536 0 8957 0 19970 0 289310 0 0 PART I, LINE 3 THE COMPENSATION OF THE ORGANIZATION'S CEO AND ALL PERSONS DEEMED POTENTIALLY DISQUALIFIED IS REVIEWED AND RECOMMENDED TO THE BOARD OF ASBURY COMMUNITIES, INC. BY THE COMPENSATION COMMITTEE OF THE BOARD. PART I, LINE 4B NAME: DOUG LEIDIG, DESCRIPTION: PRESIDENT, CURRENT YEAR AMOUNT: $56,846. PLAN DESCRIPTION: 457(F) NAME: ANDREW JEANNERET, DESCRIPTION: CFO, CURRENT YEAR AMOUNT: $63,217. PLAN DESCRIPTION: 457(F) NAME: ANDREW JOSEPH, DESCRIPTION: GENERAL COUNSEL, 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 FROM 990, PART VII AND PART IX REFLECTS THE COMPENSATION PAID BY ASBURY COMMUNITIES, INC. FOR THOSE ASSOCIATES DIRECTLY ALLOCATED TO ASBURY COMMUNITIES, INC. PURSUANT TO AN EMPLOYEE LEASE AGREEMENT. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE WILL CONSIST OF THE CHAIR, VICE CHAIR, AND PRESIDENT/CEO. 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 (1) ELECT OR REMOVE ANY MEMBER OR OFFICER OF THE BOARD OF DIRECTORS, (2) AMEND THE ARTICLES OF INCORPORATION OR BYLAWS OF THE CORPORATION, OR (3) TAKE SUCH OTHER ACTION AS RESTRICTED BY APPLICABLE LAW. FORM 990, PART VI, SECTION A, LINE 4 IN DECEMBER 2024, THE BOARD APPROVED AMENDMENTS TO THE BYLAWS LIMITED TO ARTICLE IX (COMMITTEES). THE "COMPENSATION COMMITTEE" WAS RETITLED THE "HUMAN CAPITAL AND COMPENSATION COMMITTEE." THE REVISIONS CLARIFY THAT, IN SPECIFIC CASES, THE COMMITTEE MAY APPROVE ACTIONS ALIGNED WITH THE BOARD APPROVED COMPENSATION AND BENEFITS PHILOSOPHY AND STRUCTURE, AND THEY FORMALIZE THE COMMITTEE'S ROLE IN REVIEWING MATERIALS FROM THE BOARD APPROVED EXTERNAL COMPENSATION AND BENEFITS CONSULTING FIRM AND RECOMMENDING THE RELATED PHILOSOPHY, STRATEGY, STRUCTURE, AND METHODOLOGIES FOR BOARD APPROVAL. NO OTHER SUBSTANTIVE CHANGES WERE MADE TO THE BYLAWS. IN DECEMBER 2024, ASBURY COMMUNITIES, INC. AMENDED ITS ARTICLES OF INCORPORATION (FIRST ARTICLE, PARAGRAPH (A)) TO UPDATE THE LIST OF SUPPORTED ORGANIZATIONS. THE AMENDMENT ADDED ASBURY LIVING, INC. AND BETHANY DEVELOPMENT CORP TO THE ENUMERATED SUPPORTED ORGANIZATIONS AND REAFFIRMED THAT FUTURE SUPPORTED ORGANIZATIONS MUST QUALIFY AS TAX-EXEMPT UNDER SECTION 501(C)(3) AND DESCRIBED IN SECTION 509(A)(1) OR (A)(2) OF THE INTERNAL REVENUE CODE. NO OTHER SUBSTANTIVE CHANGES WERE MADE TO THE ARTICLES. FORM 990, PART VI, SECTION B, LINE 11B ASBURY COMMUNITIES, INC. IS THE SOLE MEMBER OF ASBURY FOUNDATION, INC., ASBURY ATLANTIC, INC., ASBURY, INC., BETHANY DEVELOPMENT CORPORATION, ALBRIGHT CARE SERVICES, ASBURY LIVING, INC., AND ASBURY COMMUNITIES HCBS, INC. ASBURY COMMUNITIES, INC. HAS A SYSTEM-WIDE AUDIT, FINANCE, AND INVESTMENT COMMITTEE (AFIC). THE ASBURY COMMUNITIES, INC. BOARD OF DIRECTORS HAS DELEGATED A REVIEW OF THE FORM 990 TO THE SYSTEM AFIC WHICH PERFORMED ITS REVIEW ON 10/29/25. THE ASBURY COMMUNITIES, ASBURY FOUNDATION, INC., ASBURY ATLANTIC, INC., ASBURY, INC., BETHANY DEVELOPMENT CORPORATION, ALBRIGHT CARE SERVICES, ASBURY LIVING, INC., AND ASBURY COMMUNITIES HCBS, INC. BOARD OF DIRECTORS WERE FORWARDED A COPY OF THEIR RESPECTIVE DRAFT FORM 990 FOR THEIR REVIEW AND 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 MANAGEMENT POSITIONS. EACH PERSON COMPLETES A CONFLICT OF INTEREST DISCLOSURE FORM AND IS ADVISED OF THEIR FIDUCIARY OBLIGATIONS. THE COMPLIANCE OFFICER, WHO HAD 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 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 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 EMPLOYER OF CHOICE STRATEGIC GOALS. ALSO ON AN ANNUAL BASIS, THE COMPENSATION COMMITTEE SPECIFICALLY REVIEWS THE COMPENSATION AND BENEFITS OF THE CEO USING THE DATA GATHERED BY THE COMPENSATION CONSULTANT AT THE DIRECTION OF THE COMMITTEE AND PROVIDES INPUT TO THE FULL BOARD OF DIRECTORS IN ORDER TO SUPPORT THEIR DECISION MAKING PROCESS REGARDING THE CEO'S COMPENSATION. 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 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON OUR WEBSITE (WWW.ASBURY.ORG). 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 OF ASBURY COMMUNITIES' OFFICERS, HIGHEST COMPENSATED EMPLOYEES, AND KEY EMPLOYEES AS SHOWN ON THE FORM 990, PART VII, SECTION A, NOT ONLY RELATES TO THEIR RESPONSIBILITIES AT ASBURY COMMUNITIES, INC. BUT ALSO REFLECTS THEIR RESPONSIBILITY TO PROVIDE EXECUTIVE MANAGEMENT FUNCTIONS, AS WELL AS POLICY AND OVERALL GUIDANCE TO ITS SUPPORTED AND RELATED ORGANIZATIONS. THE COMPENSATION IS PAID BY ASBURY COMMUNITIES FOR THOSE ASSOCIATES DIRECTLY ALLOCATED TO ASBURY COMMUNITIES PURSUANT TO AN EMPLOYEE LEASE AGREEMENT. ASBURY COMMUNITIES, INC., THE SUPPORTING ORGANIZATION, ALONE HAD APPROXIMATELY 82 EMPLOYEES AS OF 12/31/2024. THESE EMPLOYEES ARE RESPONSIBLE FOR PROVIDING EXPERTISE AND GUIDANCE TO MULTIPLE SUPPORTED ORGANIZATIONS IN THE ASBURY SYSTEM WHICH SERVES MORE THAN 5,000 RESIDENTS AND CLIENTS AND EMPLOYS MORE THAN 2,100 EMPLOYEES. THE 2024 CONSOLIDATED AUDITED FINANCIAL STATEMENTS FOR ASBURY COMMUNITIES, INC. HAD TOTAL REVENUES IN EXCESS OF $299 MILLION AND TOTAL ASSETS IN EXCESS OF $647 MILLION. FORM 990, PART XI, LINE 9: TRANSFERS TO AND FROM SUPPORTED ORGANIZATIONS -3,125,179. LOSS ON DISCONTINUED OPERATIONS -5,115,151. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN OVERSIGHT PROCESS FROM THE PRIOR YEAR. 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