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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.
How we monitor and strengthen our fiscal health:
- 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 CARF International. 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 about 4,300 older adults and more than 2,600 associates who live and carry out Asbury’s not-for-profit mission of doing all the good we can.
Download our 2016 and 2017 Financial Statements
Consolidated Financial Statements and Other Financial Information. Years Ended December 31, 2016 and 2017.
Download our 2015 and 2016 Financial Statements
Consolidated Financial Statements and Other Financial Information. Years Ended December 31, 2015 and 2016.
Asbury IRS Tax Return - Form 990
Click here to view the IRS Form 990 Tax Return for Asbury for 2017 (uploaded 11/15/18).