2015-11-12T13:09:44-06:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 1966 GREENSPRING DRIVE SUITE 300 TIMONIUM MD 210934161 990 2014-01-01 731539802 INVERNESS VILLAGE AN OKLAHOMA NOT-FOR- PROFIT INVE 9184819988 20030 CENTURY BLVD NO 300 GERMANTOWN MD 208741112 KIM EHRENFRIED ASSISTANT TREASURER 9184819988 2015-11-12 1 JONATHAN HANSEN P01871557 4104530900 2014 2016-02-25 16:41:14Z MARK GRAY 20030 CENTURY BLVD NO 300 GERMANTOWN MD 208741112 18688166 0 X WWW.INVERNESSVILLAGE.COM X 1998 OK DOING ALL THE GOOD WE CAN BY PROVIDING EXCEPTIONAL LIFESTYLE OPPORTUNITIES TO THOSE WE SERVE. 9 6 301 224 0 0 264918 352804 17633561 18090455 57230 198903 -502362 41949 17453347 18684111 0 0 0 0 6676688 6780811 0 0 131512 16077138 15944069 22753826 22724880 -5300479 -4040769 87763447 86814448 172171140 175037864 -84407693 -88223416 X OUR MISSION IS TO DO ALL THE GOOD WE CAN BY PROVIDING EXCEPTIONAL LIFESTYLE OPPORTUNITIES TO THOSE WE SERVE. 0 0 3658301 3532832 SKILLED NURSING FACILITY: OPERATION OF A 44 BED SKILLED NURSING FACILITY (SNF) FOR THE AGED PROVIDING 14,954 RESIDENT DAYS OF SERVICE IN 2014. $1,617,135 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTS IN THE SNF INCLUDING LIFE CARE CONTRACTS. $138,233 OF BENEVOLENT CARE WAS PROVIDED TO SNF RESIDENTS IN 2014. 2274964 2196939 ASSISTED LIVING FACILITY: OPERATION OF A 47 SUITE ASSISTED LIVING FACILITY FOR THE AGED, PROVIDING 14,777 RESIDENT DAYS OF SERVICE IN 2014. 12843596 12403098 RESIDENTIAL LIVING: OPERATION OF 256 RESIDENTIAL LIVING UNITS FOR THE AGED, PROVIDING 87,568 RESIDENT DAYS OF SERVICE IN 2014. $1,199,702 OF CONTRACTUAL ALLOWANCES AND $12,914 OF BENEVOLENT CARE WERE PROVIDED TO RESIDENTIAL LIVING RESIDENTS.SEE SCHEDULE O FOR COMMUNITY BENEFITS INFORMATION. 18776861 1 1 0 0 0 0 0 0 0 1 1 0 0 0 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 8 0 301 1 0 0 0 0 0 0 0 0 0 0 X 9 6 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 OK X X MICHAEL CONNELL CFO 3012502100 20030 CENTURY BLVD STE 300 GERMANTOWN MD 20874 X ELAINE HORKEY CHAIR 1.00 0.00 X X 0 0 0 PAT BAILEY DIRECTOR 1.00 0.00 X 0 0 0 ROBERT BOYD DIRECTOR 1.00 0.00 X 0 0 0 JOHN COCKRUM DIRECTOR 1.00 0.00 X 0 0 0 ROBERT LIST DIRECTOR 1.00 0.00 X 0 0 0 DR KENDRA JEZEK DIRECTOR 1.00 0.00 X 0 0 0 DIXIE REPPE DIRECTOR 1.00 0.00 X 0 0 0 SUE DACAMARA VICE PRESIDENT 1.00 65.00 X X 0 338920 20864 NORMA TYLER DIRECTOR 1.00 0.00 X 0 0 0 MARK GRAY PRESIDENT 50.00 1.00 X X 195331 0 18277 JAN SLATER VICE CHAIR 1.00 0.00 X X 0 0 0 STEVE MACKEY DIRECTOR 1.00 0.00 X 0 0 0 ROBIN STERN VP, ASST. SECRETARY 1.00 50.00 X 0 177864 20310 PEGGY CRESPI KAPLAN VP, SECRETARY 1.00 65.00 X 0 321219 20864 ANDREW JOSEPH ASST. SECRETARY 1.00 55.00 X 0 203122 21320 SANDRA DANIELS ASST. SECRETARY 40.00 2.00 X 54653 0 6425 MICHAEL CONNELL VP, TREASURER 1.00 65.00 X 0 313960 23595 DOUG LEIDIG VP, ASST. TREASURER 1.00 65.00 X 0 392943 23595 KIM EHRENFRIED ASST. TREASURER 1.00 65.00 X 0 181068 20438 JESSICA PAGE DIRECTOR OF MARKETING 40.00 0.00 X 111339 0 4454 SARAH FREY DIRECTOR OF DEVELOPMENT 40.00 0.00 X 106699 0 11797 468022 1929096 191939 3 0 1 0 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 30353 FOOD SERVICE 2286914 HOFFMAN FIXTURES COMPANYKITCHEN & BATH 6031 S 129TH E AVENUE TULSA OK 74134 REMODELING SERVICE 539252 GREEN WING LAWN & LANDSCAPE SERVICES INC PO BOX 471498 TULSA OK 74147 LAWN MAINTENANCE 523049 REHABCARE GROUP INC PO BOX 503534 ST LOUIS MO 63150 REHAB SERVICE 504252 MILL CREEK CARPET & TILE PO BOX 4770 TULSA OK 74159 FLOORING SERVICE 419050 14 352804 352804 NET SERVICE REVENUE 623312 14650350 14650350 AMORTIZATION OF ENTRANCE FEES 623312 1858967 1858967 MEDICARE PAYMENTS 623312 1363025 1363025 OTHER OPERATING REVENUE 623312 218113 218113 18090455 201489 201489 42415 466 41949 41949 41949 1003 3589 -2586 -2586 -2586 18684111 18090455 0 240852 274686 274686 5280676 4760372 413605 106699 127399 115297 8795 3307 703887 447271 248126 8490 394163 343979 50184 1017449 1004433 13016 25106 25106 39645 39645 1825414 1643993 181421 63912 63582 330 670351 547773 122578 549002 3650 545352 799493 796859 2634 64413 41805 22608 4425770 3743782 681988 3667153 3655070 12083 86461 86461 FOOD 955236 955040 196 REPAIRS & MAINTENANCE 642069 637466 4603 PHARMACY & MEDICAL SUPP 313558 313558 799037 707364 91673 22724880 18776861 3816507 131512 7517182 1346987 9158912 9216428 410074 437371 2685447 4186063 36264 36363 50957 46146 89447946 28396183 61720682 61051763 1614344 6535232 4569585 3958095 87763447 86814448 2717579 2113424 9218460 9019596 70799008 69045583 89436093 94859261 172171140 175037864 X -84751468 -88948261 99507 390362 244268 334483 -84407693 -88223416 87763447 86814448 X -4040769 -156024 381070 X 0 1 X 1 0 X 264918 352804 617722 17344163 18529357 17374925 17633561 18090455 88972461 17344163 18529357 17374925 17898479 18443259 89590183 0 0 0 89590183 26509 34318 41484 99603 243904 445818 26509 34318 41484 99603 243904 445818 17370672 18563675 17416409 17998082 18687163 90036001 0.99500 0.99740 0.00500 0.00260 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 244268 90215 334483 12889 231379 244268 10282 2607 12889 2854 -7428 10282 7050 4196 2854 1.00000 0 1 1 4543498 4543498 76137953 22220348 53917605 6550151 4972984 1577167 2216344 1202851 1013493 61051763 REFUNDABLE ENTRANCE FEES 1544635 DUE TO ACOMM 27277255 DEPOSITS FROM PROSPECTIVE RESIDENTS 332246 PROJECTED REFUND OF STANDARD ENTRANCE FEES 430849 CONTINGENT REFUNDABLE ENTRANCE FEE LIABILITY 65274276 94859261 X 18909623 -156024 381536 225512 18684111 0 18684111 22725346 466 466 22724880 0 22724880 PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO PROVIDE BENEVOLENT CARE. PART X, LINE 2: ASBURY COMMUNITIES IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED FOR ASBURY COMMUNITIES INCLUDING INVERNESS VILLAGE. 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 2011 TO 2013 ARE OPEN TO EXAMINATION BY FEDERAL, LOCAL, AND STATE AUTHORITIES. PART XI, LINE 2D - RECONCILING ITEMS: CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF ASBURY FOUNDATION, INC. 381,070 RENTAL EXPENSES 466 TOTAL TO SCHEDULE D, PART XI, LINE 2D 381,536 PART XII, LINE 2D - RECONCILING ITEM: RENTAL EXPENSES 466 X X X X X X 0 0 0 0 0 0 0 0 0 SUE DACAMARA VICE PRESIDENT 0 336598 0 0 0 2322 0 10400 0 10464 0 359784 0 0 MARK GRAY PRESIDENT 193535 0 0 0 1796 0 7813 0 10464 0 213608 0 0 0 ROBIN STERN VP, ASST. SECRETARY 0 176989 0 0 0 875 0 7115 0 13195 0 198174 0 0 PEGGY CRESPI KAPLAN VP, SECRETARY 0 317655 0 0 0 3564 0 10400 0 10464 0 342083 0 0 ANDREW JOSEPH ASST. SECRETARY 0 202456 0 0 0 666 0 8125 0 13195 0 224442 0 0 MICHAEL CONNELL VP, TREASURER 0 313420 0 0 0 540 0 10400 0 13195 0 337555 0 0 DOUG LEIDIG VP, ASST. TREASURER 0 392133 0 0 0 810 0 10400 0 13195 0 416538 0 0 KIM EHRENFRIED ASST. TREASURER 0 180474 0 0 0 594 0 7243 0 13195 0 201506 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 THE OKLAHOMA DEVELOPMENT FINANCE AUTHORITY 731083741 67884WAJ8 2012-05-10 47718801 CURRENT REFUNDING 0 0 0 B THE OKLAHOMA DEVELOPMENT FINANCE AUTHORITY 731083741 67884WAV1 2013-07-10 23721590 CURRENT REFUNDING 0 0 0 A 2928801 47718801 4167018 954376 42597407 2012 1 0 1 1 B 23721590 1380070 474431 21867089 2013 1 0 1 1 A 0 1 1 1 0 0.00050 0.00050 0 0 1 B 0 1 1 1 0 0.00050 0.00050 0 0 1 A 0 1 0 0 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 AS A NOT-FOR-PROFIT ORGANIZATION, INVERNESS VILLAGE, INC. IS COMMITTED TO BEING A VALUED MEMBER OF THE COMMUNITY IN THE TULSA, OKLAHOMA COMMUNITY. 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. INVERNESS VILLAGE'S COMMUNITY BENEFIT WORK IS FOCUSED ON IMPROVING THE LIVES OF THOSE WHO LIVE IN THE COMMUNITY IN WHICH THE SERVICES ARE PROVIDED, REGARDLESS OF WHETHER THE INDIVIDUALS LIVE ON OR OFF THE INVERNESS VILLAGE CAMPUS. TO ACHIEVE THIS GOAL INVERNESS VILLAGE OFTEN WORKS WITH OTHER COMMUNITY ORGANIZATIONS. INVERNESS VILLAGE WORKS HARD EACH YEAR TO EXPAND ITS WORK IN THE COMMUNITY IN MEANINGFUL WAYS THAT IT CAN SUSTAIN AND GROW. EXAMPLES OF INVERNESS VILLAGE'S ACTIVITIES ARE SET FORTH BELOW. IN THE AREA OF TRAINING THE NEXT GENERATION OF SENIOR CARE LEADERS, INVERNESS VILLAGE PROVIDED TRAINING AND MENTORING FOR CERTIFIED NURSING ASSISTANTS AND HEALTH PROMOTION AND WELLNESS STUDENTS AT MRS. DEBON'S CNA ACADEMY, TULSA COMMUNITY COLLEGE, OKLAHOMA AND OKLAHOMA STATE UNIVERSITIES. INVERNESS VILLAGE PROVIDED INTERNSHIP EXPERIENCE FOR HEALTH EDUCATION & PROMOTION STUDENTS FROM OKLAHOMA STATE UNIVERSITY. THE COMMUNITY'S WELLNESS STAFF PROVIDED JOB SHADOWING OPPORTUNITIES FOR PHYSICAL THERAPY STUDENTS FROM OKLAHOMA STATE UNIVERSITY (OSU). IN MARCH AND OCTOBER A WELLNESS ASSOCIATE AT INVERNESS HELD MOCK INTERVIEWS FOR OSU STUDENTS CLOSE TO GRADUATION. INVERNESS DONATED THE USE OF CONFERENCE ROOM AND STAFF ASSISTANCE FOR ADDITIONAL TRAINING AND PRACTICAL EXPERIENCE AS A CNA. IN SUPPORT OF THE LOCAL COMMUNITY AND SENIOR SERVICES, INVERNESS VILLAGE ALSO MADE SIGNIFICANT CONTRIBUTIONS. THE CAMPUS'S WELLNESS DIRECTOR SERVED AS A GUEST LECTURER ON FOUR OCCASIONS FOR UNDERGRADUATES AT OSU DISCUSSING LONGEVITY, SUCCESSFUL AGING, AGEISM, AND AGEIST EXPECTATIONS. INVERNESS VILLAGE DONATED OVER 1,000 MEDICATIONS TO INDIGENT POPULATIONS AND THE UNINSURED IN THE TULSA AREA THROUGH THE TULSA COUNTY PHARMACY. THE INVERNESS BUS DRIVER PROVIDED TRANSPORTATION FOR RESIDENTS FROM VINTAGE HOUSING TO AREA RESTAURANTS FOR DINNER. DURING 2014, INVERNESS VILLAGE ASSOCIATES AND RESIDENTS RAISED MONEY AND PROVIDED FOOD WITH A VALUE OF $5,400 FOR THE FOOD PANTRY OF CATHOLIC CHARITIES OF TULSA. INVERNESS VILLAGE DINING TEAMED WITH TULSA DAY CENTER FOR THE HOMELESS TO PROVIDE TWO EVENING MEALS AND A THANKSGIVING DINNER. AND, FINALLY, IN THE AREA OF ENVIRONMENTAL SUSTAINABILITY, INVERNESS RECYCLED OVER 6,000 POUNDS OF MATERIALS EACH MONTH WITH SHOW, INC., A RECYCLING COMPANY WHICH HIRES PEOPLE WITH DEVELOPMENTAL DISABILITIES. 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 SIX INDEPENDENT VOTING MEMBERS OF THE GOVERNING BODY. THE NON-INDEPENDENT BOARD MEMBERS CONSIST OF TWO RESIDENTS OF INVERNESS VILLAGE AND ONE INVERNESS VILLAGE EMPLOYEE. 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 3 YEARS. FORM 990, PART VI, SECTION A, LINE 6 INVERNESS VILLAGE 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 INVERNESS VILLAGE AND ELECTS THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B ONLY CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO ASBURY COMMUNITIES 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) AMENDEMENTS 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, THE SOLE MEMBER OF INVERNESS VILLAGE, HAS 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 CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. THE GOVERNING DOCUMENTS ARE AVAILABLE IN THE RESIDENT LIBRARIES. 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 INVERNESS VILLAGE, AN OKLAHOMA NOT-FOR-PROFIT CORPORATION 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: CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION 381,070. TRANSFER FROM ASBURY COMMUNITIES FORM 990, PART IX, LINE 11A FEES FOR SERVICE- MANAGEMENT ASBURY, TO BETTER REFLECT THE RELATIONSHIP BETWEEN FUNDRAISING EXPENSE AND FUNDS RAISED, HAS REASSIGNED EMPLOYEES WHO WERE PREVIOUSLY EMPLOYED BY THE ASBURY FOUNDATION TO THE ENTITY WHERE THEY DEDICATE THEIR TIME. ASBURY COMMUNITIES INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 521862677 MANAGEMENT SERVICES MD 501(C)(3) LINE 11C, III-FI 0 ASBURY ATLANTIC INC 20030 CENTURY BOULEVARD GERMANTOWN MD 20874 520607956 HOUSING AND HEALTHCARE FOR OLDER ADULTS MD 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 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0