Asbury Foundation Inc
- Assets
- $31.8m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Frederick, MD
- Founding
- 09/1996
- Data as of
- 12/2019
- EIN
- 52-1862674
Organization Overview
Asbury Foundation Inc is located in Frederick, MD. The organization was established in 1996. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Asbury Foundation Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $7.3m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Asbury Foundation Inc has awarded 23 individual grants totaling $23,152,891. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
SECURING CHARITABLE SUPPORT TO ENHANCE THE LIVES OF PERSONS SERVED BY ASBURY COMMUNITIES, INC. AND ITS SUPPORTED ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASBURY FOUNDATION SUPPORTS THE OVERALL CHARITABLE ACTIVITIES OF ASBURY ATLANTIC, INC., ASBURY SOLOMONS, INC., INVERNESS VILLAGE, INC., AND ASBURY COMMUNITIES, INC. THROUGH ITS CHARITABLE FUNDRAISING EFFORTS. ASBURY FOUNDATION RAISES FUNDS TO HELP SUPPORT THE BENEVOLENT CARE PROGRAM FOR THE CONTINUING CARE RETIREMENT COMMUNITIES (CCRC'S) OWNED AND OPERATED BY THE SUPPORTED ENTITIES AND HOME CARE SERVICES WITHIN THE ASBURY COMMUNITIES, INC. SYSTEM. THE BENEVOLENT CARE PROGRAM PROVIDES CONFIDENTIAL FINANCIAL ASSISTANCE TO SENIORS BEING SERVED BY ASBURY, WHO, THROUGH NO FAULT OF THEIR OWN, HAVE OUTLIVED THEIR RESOURCES. SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Stang Chair | OfficerTrustee | 2 | $0 |
Jeremiah Shuman As Of 719 President/ex-Officio | OfficerTrustee | 60 | $0 |
Andrew Joseph Secretary | Officer | 1 | $0 |
Andrew Jeanneret Treasurer | Officer | 1 | $0 |
Douglas C Myers Thru 719 President/ex-Officio | Officer | 60 | $0 |
Mary Anne Morefield Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $302,477 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,336,348 |
| Noncash contributions included in lines 1a–1f | $122,480 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,638,825 |
| Total Program Service Revenue | $0 |
| Investment income | $747,820 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$472,010 |
| Net Income from Fundraising Events | -$34,022 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,880,613 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,504,405 |
| Grants and other assistance to domestic individuals. | $66,759 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $105 |
| Fees for services: Legal | $1,867 |
| Fees for services: Accounting | $7,352 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,935 |
| Advertising and promotion | $874 |
| Office expenses | $14,664 |
| Information technology | $103 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,375 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $34 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,387 |
| Insurance | $787 |
| All other expenses | $24,621 |
| Total functional expenses | $7,279,913 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,007 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $482,006 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $247 |
| Net Land, buildings, and equipment | $17,567 |
| Investments—publicly traded securities | $26,806,373 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,403,244 |
| Total assets | $31,762,444 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $3,410,343 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $1,808,007 |
| Total liabilities | $5,218,350 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $26,544,094 |
| 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 | $31,762,444 |
Grants Awarded
Over the last fiscal year, Asbury Foundation Inc has awarded $6,504,405 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Frederick, MD PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF THE ORGANIZATION. | $6,329,606 |
Tulsa, OK PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF THE ORGANIZATION. | $147,119 |
Frederick, MD PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF THE ORGANIZATION. | $21,709 |
Frederick, MD PURPOSE: TO SUPPORT THE EXEMPT PURPOSE OF THE ORGANIZATION. | $5,971 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Asbury Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
The Foundation For Enhancing Communities Harrisburg, PA PURPOSE: EDUCATIONAL | $5,000 |
Endowment Analysis
| Beg. Balance | $29,680,552 |
| Earnings | -$311,147 |
| Net Contributions | $720,068 |
| Ending Balance | $30,089,473 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
College Foundation Of The University Of Virginia Charlottesville, VA | $173,817,709 | $26,400,108 |
Kennedy Krieger Foundation Inc Baltimore, MD | $73,643,952 | $15,945,035 |
The M S Hershey Foundation Hershey, PA | $56,217,627 | $12,355,652 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $13,512,280 |
Pittsburgh Promise Foundation Pittsburgh, PA | $66,594,047 | $8,011,763 |
Taubman Foundation For The Arts Roanoke, VA | $40,514,928 | $10,910,819 |
The Fund For The School District Of Philadelphia Philadelphia, PA | $7,646,928 | $11,950,754 |
Amalgamated Charitable Foundation Inc Washington, DC | $15,561,577 | $22,894,824 |
James Family Charitable Foundation Charlottesville, VA | $167,670,985 | $9,863,945 |
Travis Manion Foundation Doylestown, PA | $3,378,488 | $9,682,762 |
The Pauley Family Foundation Richmond, VA | $127,013,005 | $17,922,196 |
Asbury Foundation Inc Frederick, MD | $31,762,444 | $4,880,613 |