Financial Strength
A Foundational Pillar
Through strong financial stewardship, we can continue to innovate and keep the promises we make to those we serve. Less than 25 percent of the nation’s CCRCs hold investment-grade bonds. We are proud to be among this group.
From Asbury’s beginning, we have grown our organization and expanded our Mission to serve more. We monitor and strengthen our financial health in the following ways:
- Requiring an annual audit by a leading firm to review the system’s Consolidated Financial Statement. View and download below.
- Growing our organization and building strong financial reserves to provide capital for future investment. Albright Care Services joined our organization in 2020, followed by Chandler Estate in 2021 and Ivy Gables and Grace Park in 2023. Based on 2023 annual results, Asbury had $308 million in Total Revenues, Gains & Other Support. Total combined Cash, Investment & Foundation Reserves was $186 million.
- Ensuring strong occupancy supporting the system’s overall financial health through strategic sales and marketing, technology, and more.
- Delivering our not-for-profit pledge by supporting benevolent care for qualified residents who have outlived their resources through no fault of their own.
Asbury is overseen by a Board of Directors with expertise in key areas related to our business, including the finance and health care industries. Their strategic guidance, in collaboration with our leadership team, ensures that Asbury is positioned for continued success.
The Value of Accreditation
Asbury is proud to hold EAGLE accreditation through the Methodist Ministries Network at our Maryland and Pennsylvania continuing care retirement communities. Through on-site peer reviews and a reaccreditation process for existing members, EAGLE ensures that partner organizations are:
- Operating in a manner that is representative of their faith values
- Being responsible stewards of physical and financial assets
- Ensuring long-term sustainability; and,
- Honoring their not-for-profit status by reinforcing community benefit and spiritual values
Ensuring Strong Stewardship
Transformational Philanthropy
The Asbury Foundation is at the heart of Asbury Communities’ not-for-profit pledge. As a 501(c)(3) organization that secures philanthropic support to enhance the quality of life for seniors served by the Asbury system, the Asbury Foundation secures funds supporting benevolent care for qualified Asbury residents as well as lifestyle-enhancing capital projects and programs.
Asbury Foundation touches virtually every aspect of Asbury’s system, ensuring that our Mission is hard at work wherever we are, as we strive to make positive change for our stakeholders.
Click here to view Asbury Foundation’s 2023 Impact Report.
Innovative Partnerships
The partnerships we develop with businesses enhance our operations with new innovations and solutions. Because each business partner is an industry leader, we can strengthen key business metrics like resident occupancy.
Corporate partnerships have led to us becoming market standouts in skilled nursing and environmental sustainability. Our business partners are some of the most efficient and innovative providers in the industry allowing Asbury to do all the good we can on a larger scale.
View Our Most Recent Financial Statements
2023 Audited Consolidated Financial Statement
2024 Audited Consolidated Financial Statement
Asbury Communities 2022 IRS Tax Return – Form 990
Asbury Communities 2023 IRS Tax Return – Form 990