Asbury Atlantic Inc
- Assets
- $494.2m
- Revenue
- $182.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Frederick, MD
- Founding
- 09/1996
- Data as of
- 12/2020
- EIN
- 52-0607956
Organization Overview
Asbury Atlantic Inc is located in Frederick, MD. The organization was established in 1996. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asbury Atlantic Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Asbury Atlantic Inc generated $182.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $166.6m during the year ending 12/2020. While expenses have increased by 4.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
EXPLORING POSSIBILITIES TO LIVE YOUR BEST LIFE BY DOING ALL THE GOOD WE CAN WITH INTEGRITY, TRANSPARENCY AND GRACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SKILLED NURSING FACILITIES:OPERATION OF 4 SKILLED NURSING FACILITIES (SNF'S) FOR THE AGED WITH 382 TOTAL BEDS PROVIDING 128,209 DAYS OF SERVICE IN 2022. $18,899,182 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTS OF THE SNF IN 2022.
RESIDENTIAL LIVING FACILITIES: OPERATION OF 1,676 RESIDENTIAL LIVING UNITS FOR THE AGED, PROVIDING 535,976 DAYS OF SERVICE IN 2022. $528,978 OF BENEVOLENT CARE AND $299,516 OF CONTRACTUAL ALLOWANCES WERE PROVIDED TO RESIDENTIAL LIVING RESIDENTS DURING 2022. ALSO PROVIDED HEALTH AND WELLNESS PROGRAMMING AND SERVICE TO RESIDENTS.
ASSISTED LIVING FACILITIES: OPERATION OF 4 ASSISTED LIVING FACILITIES FOR THE AGED WITH 292 TOTAL SUITES PROVIDING 94,209 RESIDENT DAYS IN 2022. $2,507,291 OF BENEVOLENT CARE AND $1,320,554 CONTRACTUAL ALLOWANCES WERE PROVIDED TO THE ASSISTED LIVING RESIDENTS IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Andrews President/ex-Officio | OfficerTrustee | 2 | $0 |
Jeffrey Ernico Chair | OfficerTrustee | 2 | $0 |
Efonda Sproles Vice Chair | OfficerTrustee | 2 | $0 |
Christina Croll Director | Trustee | 2 | $0 |
Barbara Harbison Director | Trustee | 2 | $0 |
Melissa Fors Shackleford Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flagship Rehabilitation Services Ot, Pt, St Therapies | 12/30/20 | $4,467,511 |
Core Bts Inc It Managed Service Provider | 12/30/20 | $1,661,967 |
Sodexo Inc And Affiliates Dining, Maint, Hskpng, Laundry | 12/30/20 | $18,650,081 |
Trademark Design And Build Construction Company | 12/30/20 | $1,886,124 |
Wagman Construction Inc Construction Company | 12/30/20 | $3,648,985 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $7,424,227 |
| Government grants | $5,577,607 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,001,834 |
| Total Program Service Revenue | $164,996,830 |
| Investment income | $3,207,079 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $213,592 |
| Net Gain/Loss on Asset Sales | $851,381 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $182,270,716 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,730,834 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $892,214 |
| Compensation of current officers, directors, key employees. | $892,214 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,096,514 |
| Pension plan accruals and contributions | $1,928,650 |
| Other employee benefits | $3,295,137 |
| Payroll taxes | $3,992,485 |
| Fees for services: Management | $13,471,130 |
| Fees for services: Legal | $146,202 |
| Fees for services: Accounting | $122,205 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,809,307 |
| Advertising and promotion | $1,341,682 |
| Office expenses | $5,006,041 |
| Information technology | $2,990,477 |
| Royalties | $0 |
| Occupancy | $6,273,486 |
| Travel | $29,669 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,770,555 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,284,271 |
| Insurance | $1,398,587 |
| All other expenses | $2,463,542 |
| Total functional expenses | $166,563,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,512,417 |
| Savings and temporary cash investments | $47,835,724 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,658,259 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,065,987 |
| Inventories for sale or use | $235,640 |
| Prepaid expenses and deferred charges | $3,195,563 |
| Net Land, buildings, and equipment | $282,632,162 |
| Investments—publicly traded securities | $58,845,178 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $92,221,815 |
| Total assets | $494,202,745 |
| Accounts payable and accrued expenses | $7,630,227 |
| Grants payable | $0 |
| Deferred revenue | $164,859,457 |
| Tax-exempt bond liabilities | $224,946,576 |
| Escrow or custodial account liability | $35,411 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $180,525,733 |
| Total liabilities | $577,997,404 |
| Net assets without donor restrictions | -$115,484,944 |
| Net assets with donor restrictions | $31,690,285 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $494,202,745 |