As an Asbury community, Asbury Methodist Village enjoys the financial security and benefits of being part of the 16th largest not-for-profit retirement system in the United States. With Financial Strength and Stewardship as one of its Core Values, the Asbury system makes it a top priority to maintain and enhance its financial strength to serve increasing numbers of people 60 years and older.
As a not-for-profit, Asbury is driven by a mission of service and overseen by a volunteer Board of Directors that is charged with positioning the system for perpetual success. Asbury has volunteer financial experts on the Audit Committee and Finance Committee that assist in overseeing the Asbury system’s fiscal strength. Asbury monitors and strengthens its fiscal health by:
Requiring an annual audit by an industry leading audit firm to review the system’s consolidated annual statements. The most recent audit, completed in March 2015, resulted in an unqualified opinion on all financial statements with no material weaknesses, adjustments or reclassifications cited and full compliance with all debt covenants.
Seeking review from an independent national bond rating agency to continually assess financial performance. Asbury Methodist Village is among the less than 10% of continuing care retirement communities in the country whose bonds have an investment-grade bond rating, which reduces the cost of borrowing.
Participating in a national accreditation process, operated by the Continuing Care Accreditation Commission (CARF-CCAC). Each year, Asbury 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, and additional income they generate, establish a solid financial base that allows Asbury to weather times of economic challenge. Asbury’s bonds require the maintenance of adequate reserves.
Routinely contracting with a leading national actuarial firm that provides projections assisting communities in setting appropriate financial qualifications and fee structure for residents. These projections assist Asbury in protecting the long-term health of the organization by ensuring that the large majority of residents will have enough assets to last for their lifetimes and an adequate fee structure is in place.
Ensuring high levels of occupancy, supporting the system’s overall financial health. Asbury’s occupancy is 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 the more than 3,500 residents and 2,200 associates who live and carry out Asbury’s not-for-profit mission of creating services that enhance the entire span of life.
In addition, each community's Quarterly Financial Documents are shared at regular intervals. Other key financial documents can be viewed below.
Asbury Methodist Village is the 12th largest CCRC in the country and proudly calls Montgomery County, Maryland home. As part of the not-for-profit Asbury system, Asbury Methodist Village provides a complete continuum of care including independent living options such as courtyard homes, villas, and spacious apartments, as well as assisted living suites, skilled nursing residences, memory support and rehabilitation therapy services. These choices, combined with an outstanding tradition of quality and service, help Asbury lead the way in exceptional retirement living.