Attorney General’s Charity Enforcement Unit secures $400k settlement involving senior living funds
OKLAHOMA CITY (April 17, 2025) – Oklahoma Attorney General Gentner Drummond announced today that his office's Charity Enforcement Unit has secured a $400,000 settlement agreement following an investigation into the management of charitable funds intended for a continuing care retirement community in Tulsa.
The settlement with Asbury Communities, Inc. and Asbury Foundation resolves allegations that the organizations failed to protect donor-restricted funds that were meant to support programs, projects, and benevolent care for residents at Inverness Village. Inverness Village was part of Asbury’s multi-state system of senior living facilities and services until 2019.
"When Oklahomans make charitable donations for specific purposes, we have a duty to ensure their wishes are honored," said Drummond. "This settlement represents our commitment to protecting charitable assets in Oklahoma and holding organizations accountable when they fail to safeguard donor-restricted funds. Thanks to the diligent work of our Charity Enforcement Unit, these resources will now be used as the donors originally intended – to support senior care in our state."
Under the agreement, Asbury and the Foundation paid $355,000 to Tulsa Hills Community, Inc., which now owns the former Inverness Village facility, and $45,000 to the Attorney General's Office to cover investigation costs.
Based on its investigation, the Charity Enforcement Unit alleges that as of 2019, Inverness Village accumulated over $500,000 in donor-restricted gifts and endowment funds intended to provide ongoing support for residents and programs at the facility. Most donations came from Inverness residents and their families who made generous contributions to support specific programs and to grow a permanent endowment fund for benevolent care.
When Inverness filed for bankruptcy in 2019 and sold its facility to Tulsa Hills Community, Inc., these donor-restricted funds should have transferred to the new owner. Under law, such funds cannot be used to pay creditors during bankruptcy proceedings but must instead be distributed for charitable purposes that align with the original donors' intent.
However, the Attorney General's Charity Enforcement Unit claims that these charitable funds were not properly protected by Asbury and were allegedly spent on general expenses rather than being preserved for their intended charitable purposes in Oklahoma.
The settlement, which avoids costly litigation, ensures that Inverness Village and its residents receive the intended benefits of the charitable gifts.
The Attorney General's Charity Enforcement Unit aims to assure a strong charitable sector in Oklahoma by carrying out the duty and exercising the authority of the Attorney General to protect the public’s interest in charitable assets.
