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A strong foundation for a bright future
In today’s uncertain economy, knowing that your future and your finances are secure means peace of mind. At Asbury, financial strength and stewardship are closely held core values. Maintaining a solid financial foundation is imperative for the innovation, compassion and technology that are required to carry out our mission.
Asbury is overseen by a volunteer Board of Directors charged with positioning the system for perpetual success. Financial experts on the Board’s Audit Committee and Finance Committee assist in overseeing the system’s fiscal strength.
“As we continue to strengthen operations, enhance our data analysis systems and bolster reserves, Asbury is enhancing its value to residents.”
Michael Connell, Chief Financial Officer
Asbury monitors and strengthens its fiscal health by:
- Requiring an annual audit by a leading firm to review the system’s consolidated annual statements. The most recent audit resulted in an unqualified opinion on all financial statements with no material weaknesses, adjustments or reclassifications cited and full compliance with all debt covenants.
- Participating in a national accreditation process, operated by the Commission on Accreditation of Rehabilitation Facilities/Continuing Care Accreditation Commission (CARF-CCAC). To maintain accreditation, Asbury each year evaluates its financial performance against various benchmarks – including profitability, liquidity and capital structure – to identify trends and evaluate strengths relative to other accredited communities and systems throughout the United States.
- Building financial reserves to support its mission and provide capital for future investment, including renovation or expansion of its five communities. These financial reserves, along with the income they generate, establish a solid financial base that allows Asbury to weather times of economic challenge. Asbury’s bondholders require the maintenance of adequate reserves.
- Ensuring high levels of occupancy supporting the system’s overall financial health. Asbury’s occupancy is consistently well above national averages reported by an industry monitor, the National Investment Center.
Asbury regularly communicates its financial health with stakeholders. The most important of these are the more than 3,800 residents and 2,600 associates who live and carry out Asbury’s not-for-profit mission of doing all the good we can.
Download our 2014 and 2015 Financial Statements
Consolidated Financial Statements and Other Financial Information. Years Ended December 31, 2014 and 2015.
Download our 2013 and 2014 Financial Statements
Consolidated Financial Statements and Other Financial Information. Years Ended December 31, 2013 and 2014.
Asbury IRS Tax Return - Form 990
Click here to view the IRS Form 990 Tax Return for Asbury for 2014 (uploaded 11/15/15).