When I make my gift to the foundation, how is my gift directed?
All gifts are tracked by community. That is, all gifts designated to a certain
community benefit that community. All gifts made by a particular community’s
residents and their families benefit that community alone.
Who oversees Asbury Foundation?
Asbury Foundation is governed by a 12-member board of directors consisting of
representatives from the communities Asbury serves. The foundation is audited
annually by a nationally recognized accounting firm.
Who manages day-to-day operations of the foundation?
The board of directors hires a president and CEO, who is assisted by several
development directors. Click on
Foundation Staff to see our
current associates.
How many gifts did the foundation receive last year?
The total number of donors in 2007 was over 3,348 with more than $5.21 million
in new gifts, pledges, and gift annuity agreements were contributed to enhance the lives of residents in the
Asbury system of communities. Our donors include our residents; the balance was
individuals, churches, businesses and service organizations in the surrounding
communities.
To show how many gifts were designated to benefit each community, a breakdown by
affiliate follows.
Asbury Methodist Village—Total number of donors was 1,508, with almost $2.1
million contributed.
Asbury~Solomons Island—Total number of donors was 528, with more than $287,000
contributed.
Bethany Village—Total number of donors was 551, with more than $919,000
contributed.
Epworth Manor—Total number of donors was 223, with more than $136,000 contributed.
Inverness Village—The community opened in 2003, and in 2007, total number of
donors was 118, with more than $270,000 contributed.
Springhill—Total number of donors was 419, with more than $1.38 million
contributed.
What programs or projects are supported by the foundation?
The foundation supports benevolent care needs in the Asbury system of
communities through
annual funds (the Benevolent Care Fund, Care Assurance Fund or Fellowship Fund)
and, at several communities, through endowment funds. During 2007, $2,096,803 in
benevolent care was provided to 65 residents living at Asbury Methodist Village,
Asbury~Solomons, Bethany Village, Epworth Manor, and Springhill. Additionally,
Asbury provided over $4.38 million in uncompensated services to those residents
on Medicaid at our health care centers. This represents the shortfall in what
Asbury would normally charge and the Medicaid reimbursement provided by the
states of Maryland and Pennsylvania. Click here for more on
benevolent care.
The foundation also supports the Asbury system of communities by assisting with capital and
program enhancements such as:
- Rosborough Distinguished Speaker Series at Asbury Methodist Village
- Peterkin Wellness Center fitness programs at Asbury~Solomons
- Future Alzheimer’s care at Springhill
- Life Enrichment program support at Bethany Village
- Snoezelen Sensory World for the memory support neighborhood at Epworth Manor
What is the total value of the foundation’s endowment funds?
Gifts permanently invested in endowment create a principal base that
generates interest income. The interest alone is used annually to fund
benevolent care and specific capital needs at designated communities.
How are endowment funds invested?
The endowment funds are invested with the Russell Investment Company.
Russell is one of the most respected firms in the country—it is the same company
that invests funds for the Bill and Melinda Gates Foundation. Our endowment
funds are invested with a balanced portfolio of equities, bonds and real estate
funds with a focus on achieving long-term growth.
What is the Heritage Society?
All who make bequests and other planned gifts such as charitable gift
annuities, trusts and gifts of life insurance are recognized as members of the
Heritage Society. |
