O R A N G E C O U N T Y : S E C O N D H A R V E S T F O O D B A N K * M I D - A T L A N T I C : D O O R W A Y S * A M E R I C A N R E D C R O S S C O A S T A L V I R G I N I A * M I D - A T L A N T I C E M P I R E H O M E S - 2 N D F R I D A Y * N E W Y O R K : C . H . I . P . S . B R O O K LY N M A I N T E N A N C E L E A D E R S H I P * C T - T O G E T H E R W E R I S E * S P I R I T O F C A R I N G - S W E E T C A S E D E C O R A T I N G * M I D -A T L A N T I C : S H E LT E R S T O S H U T T E R S W I N E T A S T I N G & R A F F L E * F A M I LY S E R V I C E L E A G U E I N C * N E W J E R S E Y C O M M U N I T Y D E V E L O P M E N T C O R P O R A T I O N I N C * L O N G I S L A N D - S P R I N G L A N D S C A P I N G F O R N E W G R O U N D I N C . * C T - O P E N D O O R S H E LT E R * I A T T E N D E D T H E V O L U N T E E R O R I E N T A T I O N A T T H E B I D E A W E E A N I M A L S H E LT E R A N D A D O P T I O N C E N T E R * O P E N D O O R S H E LT E R I N C * N O R T H E R N C A L I F O R N I A - H A B I T A T F O R H U M A N I T Y E A S T B A Y / S I L I C O N V A L L E Y * B O S T O N - R O S I E ’ S P L A C E * C A R E P A C K S * M I D - A T L A N T I C : D A S H S P R I N G C L E A N U P * C C C V A B E A C H - S P R I N G B L O O D D R I V E D O N O R * S P I R I T O F C A R I N G : S W E E T C A S E S * J V S L U N C H E O N * S P E C I A L N E E D S P A R E N T S U P P O R T A D V O C A T E * B R A I N T R E E C O M M U N I T Y P A R T N E R S H I P O N S U B S T A N C E U S E * L O N G I S L A N D - S U N R I S E W A L K S L I * B U D D Y D O G H U M A N E S O C I E T Y * C C C V A B E A C H - C A M P H O P E H A V E N S U M M E R P R E P * A R L I N G T O N B R E A T C A N C E R C E N T E R * B U F F A L O B A Y O U P A R T N E R S H I P * N E W Y O R K : B O W E R Y M I S S I O N V O L U N T E E R E V E N T * H A V E N F R O M H U N G E R O F P E A B O D Y I N C * N Y C - S P I R I T O F C A R I N G - S W E E T C A S E S * A L P H A G A M M A D E LT A - A D V I S O R I N T E R V I E W S , C O N V E N T I O N P R E P , E X T E N S I O N W O R K , V O L U N T E E R R E P O R T I N G * A M E R I C A N R E D C R O S S * M I D A T L A N T I C : A R L I N G T O N F R E E C L I N I C : M O T H E R ’ S D A Y A S S E M B LY * H A B I T A T F O R H U M A N I T Y E A S T B A Y / S I L I C O N V A L L E Y * S C I T U A T E F O O D P A N T R Y * C C C V A B E A C H - S O U N D T H E A L A R M .S A V E A L I F E * C C C V A B E A C H - S P R I N G B L O O D D R I V E A S S I S T A N C E * B O S T O N - R E D C R O S S C P R T R A I N I N G * M I D - A T L A N T I C : A M E R I C A N R E D C R O S S G O L F T O U R N A M E N T * N E W J E R S E Y - F A R A , S E A S I D E S T R I D E * C H I L D R E N S H O M E S O C I E T Y O F N E W J E R S E Y * P A C I F I C N O R T H W E S T : Y M C A H E A LT H Y K I D S D A Y * S P E C I A L O LY M P I C S P E N N S Y L V A N I A I N C * N E W Y O R K : C L I N T O N N O R T H / C L I N T O N S O U T H ’ S S W E E T C A S E S E V E N T * C C C V I R G I N I A B E A C H - U N T A M E D S P I R I T * L O S A N G E L E S : F R I E N D S O F T H E L A R I V E R C L E A N - U P * L I F T I N G U P W E S T C H E S T E R I N C * C C C V A B E A C H C O R P O R A T E C H A L L E N G E K I C K B A L L * A F A C : A R L I N G T O N F O O D A S S I S T A N C E C E N T E R ( A F A C ) L O C A T E D A T 2 7 0 8 S N E L S O N S T , A R L I N G T O N , V A 2 2 2 0 6 F R O M 1 0 A M U N T I L N O O N . * C C C V A B E A C H - R I S E A G A I N S T H U N G E R M E A L P A C K A G I N G E V E N T * D A V * N E W Y O R K : B O W E R Y M I S S I O N I N S P I R I N G H O P E L U N C H E O N * M I D - A T L A N T I C - H A B I T A T F O R H U M A N I T Y D C : B U I L D D A Y # 2 * M I D - A T L A N T I C E M P I R E H O M E S - 3 R D F R I D A Y * F E E D M Y S T A R V I N G C H I L D R E N * N O R T H E R N C A L I F O R N I A : P A R K C L E A N U P , B A Y L A N D S P A R K S U N N Y V A L E * N E W G R O U N D * T O G E T H E R W E R I S E C O R P O R A T I O N * B O S T O N - P I N E S T R E E T I N N * B U D D Y D O G H U M A N E S O C I E T Y I N C * C R A D L E S T O C R A Y O N S I N C * C T - S U N R I S E D A Y C A M P - B A T H R O O M R E N O V A T I O N * S P I R T O F C A R I N G - T O G E T H E R W E R I S E B A G S * M I D - A T L A N T I C : H O R I Z O N D A Y C A M P - C A M P S I G N S * M I D - A T L A N T I C - F R E E L I T T L E L I B R A R Y * A M E R I C A N R E D C R O S S O F M A S S A C H U S E T T S V I A A M E R I C A N R E D C R O S S * O R A N G E C O U N T Y : B E A C H C L E A N U P * W O R C E S T E R P O LY T E C H N I C I N S T I T U T E C I V I L E N G I N E E R I N G A D V I S O R Y B O A R D , W O R C E S T E R , M A * N E W J E R S E Y : T H E C H I L D R E N ’ S H O M E S O C I E T Y * B O S T O N - R E D C R O S S F O O D P A N T R Y * N E W J E R S E Y - O N E S I M P L E W I S H * L O N G I S L A N D - S P R I N G L A N D S C A P I N G F O R N E W G R O U N D I N C . * M I D - A T L A N T I C : P L A N T E R B E N C H R E H A B I L I T A T I O N A N D W E A T H E R I Z A T I O N ( A P A H ) * M I D - A T L A N T I C : H O R I Z O N O N W H E E L S - C R A F T K I T A S S E M B LY * S A C R E D H E A R T S C H O O L F U N D A Y , K I N G S T O N , M A * C T - N A T I O N A L R E D N O S E D A Y * S P I R I T O F C A R I N G S W E E T C A S E S * O N E S I M P L E W I S H * N E W J E R S E Y - C P R T R A I N I N G * T H E C E N T E R F O R G R E A T E X P E C T A T I O N S I N C * C C C V I R G I N I A B E A C H - R I S E A G A I N S T H U N G E R M E A L P A C K A G I N G E V E N T * N E W J E R S E Y - C H I L D R E N ’ S H O M E S O C I E T Y * F U R M A N C E N T E R M E E T I N G * M I D - A T L A N T I C - H A B I T A T F O R H U M A N I T Y D C : B U I L D D A Y # 3 * L O S A N G E L E S W O M E N ’ S S H E LT E R F E E D T H E H O M E L E S S * H A B I T A T F O R H U M A N I T Y F R E M O N T C A * N E W Y O R K : B O W E R Y M I S S I O N L U N C H S E R V I C E * R E D C R O S S B L O O D D R I V E - R E G . D E S K * L O S A N G E L E S D O W N T O W N W O M E N ’ S S H E LT E R * S A N F R A N C I S C O / S A N J O S E - S E C O N D H A R V E S T F O O D B A N K - S A N C A R L O S * S H E LT E R S T O S H U T T E R S * A L P H A G A M M A D E LT A C H A P T E R D E V E L O P M E N T S U P P O R T * C H A P E R O N E D U T Y A T W I N D H A M , N H M I D D L E S C H O O L * D O W N T O W N W O M E N S C E N T E R * T O W N O F W I LT O N * F A T H E R B I L L’ S & M A I N S P R I N G , I N C . * P A C I F I C N O R T H W E S T : H A B I T A T F O R H U M A N I T Y S T O R E * C T - S U N R I S E D A Y C A M P B A T H R O O M * A F T E R S C H O O L L O S A N G E L E S A L L S T A R S * L A A L L S T A R S B O O K R E A D I N G * N E W Y O R K : F O R T G R E E N E / B R O O K LY N B A Y ’ S S W E E T C A S E S E V E N T * L O S A N G E L E S R E G I O N A L F O O D B A N K * E M P I R E H O M E S O F M A R Y L A N D I N C * M I D - A T L A N T I C : A M E R I C A N R E D C R O S S - A R L I N G T O N , V A * N E W J E R S E Y - R O N A L D M C D O N A L D H O U S E * S A N D I E G O H A B I T A T F O R H U M A N I T Y * K I D S M E A L S I N C * V O L U N T E E R C O A C H F O R T H E M O N T G O M E R Y C O U N T Y R O A D R U N N E R S , A 5 0 1 ( C ) ( 3 ) O R G A N I Z A T I O N * N Y - L I F T I N G U P W E S T C H E S T E R * I L O V E A C L E A N B E A C H * N E W Y O R K : R I V E R V I E W / R I V E R V I E W N O R T H ’ S S W E E T C A S E S E V E N T * C C C V A B E A C H C O R P O R A T E C H A L L E N G E B O W L I N G * P A C I F I C N O R T H W E S T : H O P E L I N K H A R V E S T * A R E A C O N G R E G A T I O N S T O G E T H E R I N C * N E W J E R S E Y - E L I J A H ’ S P R O M I S E S O U P K I T C H E N * W O L F T R A P F O U N D A T I O N F O R T H E P E R F O R M I N G A R T S * N E W J E R S E Y - A M E R I C A N R E D C R O S S , B L O O D D R I V E * D I S M A S H O U S E O F M A S S A C H U S E T T S I N C * N E W J E R S E Y - T H E G I V I N G G A R D E N * N E W Y O R K : W I L L O U G H B Y S Q U A R E /D O B R O ’ S S W E E T C A S E S E V E N T * B O S T O N - C R A D L E S T O C R A Y O N S * C Y S T I C F I B R O S I S F O U N D A T I O N - G R E A T E R N E W Y O R K C H A P T E R - W E S T C H E S T E R V I A C Y S T I C F I B R O S I S F O U N D A T I O N - N A T I O N A L H E A D Q U A R T E R S * C P R T R A I N I N G A V A L O N S O M E R S E T * C O A L C R E E K F A M I LY Y M C A V I A Y M C A O F G R E A T E R S E A T T L E * L I N C ’ S D R . S E U S S ’ B I R T H D A Y L I T E R A C Y E V E N T, P S 1 8 9 - 2 5 8 0 A M S T E R D A M A V E N U E , N Y , N Y 1 0 0 4 0 * C T - S P O O N E R H O U S E * N E W Y O R K : W E S T C H E L S E A / H I G H L I N E ’ S S W E E T C A S E S E V E N T * L O S A N G E L E S F O O D B A N K * N E W J E R S E Y - M A I N T E N A N C E B I K E B U I L D * B O S T O N - S T . F R A N C I S H O U S E * S P E C I A L O LY M P I C S N E W Y O R K I N C * N E W J E R S E Y - N J C D C , R E G I O N A L E V E N T, A L L O F N E W J E R S E Y * M I D A T L A N T I C : A P A H B O O K P A R T Y & I C E C R E A M S O C I A L * D I S T R I C T A L L I A N C E F O R S A F E H O U S I N G I N C * N E W G R O U N D * N E W J E R S E Y , W O O D B R I D G E O F F I C E - C E N T E R F O R G R E A T E X P E C T A T I O N S * M I D - A T L A N T I C - H A B I T A T F O R H U M A N I T Y D C : B U I L D D A Y # 1 * B O S T O N - R H A C A R I T A S C O M M U N I T I E S S I T E C L E A N - U P S * B O S T O N - C O M M U N I T Y H A R V E S T P R O J E C T * B O W E R Y M I S S I O N F O U N D A T I O N I N C * V O L U N T E E R A T T H E B O S T O N M A R A T H O N E X P O * N Y - T O G E T H E R W E R I S E * P H I L A D E L P H I A R O N A L D M C D O N A L D H O U S E * A R L I N G T O N F O O D A S S I S T A N C E C E N T E R * C A R D I N A L S P E L L M A N H S C A R E E R D A Y , 1 C A R D I N A L S P E L L M A N P L A C E , B R O N X , N Y 1 0 4 6 6 * M I D - A T L A N T I C E M P I R E H O M E S - 1 S T F R I D A Y * N E W J E R S E Y - N J C D C

S U M M E R 2 0 1 8

ALSO:

RESIDENT FACEBOOK GROUPSLIFECYCLE OF THE AVB BUDGETSPOTLIGHT ON ROMs

25 YEARSC O N T E N T S

03 Major Milestones

11 Revisiting AVBTalks

04 Spirit of Caring

09 New Resident Facebook Groups

10 Recruiting Initiatives

12 Lifecycle of the AVB Budget

14 Corporate Responsibility Highlights

16 Position Spotlight: Regional Operations Managers

18 What’s Next in Innovation

Cynthia Ann Major

Sanford Ray Briscoe Jr.Kurt Hesser

Brian PackardJatin Shah

Ellen VendittoTammy Watkins

Gina Yates

Kellen BracerosWilliam Carbone

Felix FigueroaPablo Gonzalez

Samuel GonzalezRebecca Harlow

Josefina LazalaKara Ann Martin

Nancy NordlingJose Reyes

Hector SantiagoBarbara Schiano

Lynn BrusoKyle Dunbar

Denise EvansMary-Caryl Ferdenzi

Luke FordDavid Hansen

Sang HuynhLenice Jones

Robert LubenowChristine MeholicMarc Pierre-Louis

Brittney PurselRichard Rodriguez

Raquel RosalesRoderick Smith

Marie StantonTrever Staten

Otica Williams

MAJOR MILESTONESIN THE SECOND QUARTER OF 2018

Information Technology

Avalon Marina BayFinancial AnalysisConstructionInformation TechnologyAvalon Prudential CenterAVA Toluca HillsOperations & Investment Services

AVA Cortez HillAvalon Tysons CornerEaves StamfordAvalon HobokenAvalon at the PinehillsRedevelopmentConstructionAvalon at Bedford CenterNJ DevelopmentAvalon at Fairway HillsEaves LawrencevilleAvalon at Center Place

Avalon at Center PlaceAvalon Sudbury West ConstructionOperations & Investment ServicesAvalon at Newton HighlandsEaves LawrencevilleAvalon on the AlamedaInformation TechnologyAccounts PayableAvalon at Lexington HillsAvalon Santa Monica on MainAvalon Gallery PlaceInformation TechnologyInformation TechnologyAvalon at Arlington SquareAVA Van NessAvalon West Long BranchAvalon Towers On The PeninsulaAccounts Payable

15 YEARS

20 YEARS

THANK YOU FOR YOUR SERVICE TO AVALONBAY!

10 YEARS

SUMMER 20182 SUMMER 2018 3

6,758HOURS

50+ORGANIZATIONS

1,098VOLUNTEERS

250+DONATION DRIVES

100+EVENTS

was our 7th Annual Spirit of Caring Month, part of our Building Strong Communities Philanthropy Program. Associates from every region rolled up their sleeves and picked up soapy sponges, dirty trowels, serving tongs or a hammer and nails to join in on the huge variety of events that helped enrich the communities in which we do business.

We supported national organizations like the American Red Cross and Habitat for Humanity as well as local ones like Shelters to Shutters, Hopelink Harvest and the Boston Marathon. Once again AvalonBay is showing, we don’t just Create a Better Way to Live for our residents and ourselves, we do it for those who need our help.

In addition to volunteer events, we invited our residents to join in on donation drives, collecting goods that will go directly to those who need them.

Here you’ll find just a small sample of the events that happened in each region; we had so many in total, that they averaged 3 per day through the month.

This month of philanthropic efforts continues to grow; we thank everyone who participated, and we remind you that more events will be available throughout the year to ensure everyone can show their spirit of caring year round.

Helped build seven condos in Southeast, DC, including installing insulation in the HVAC attic spaces and reframed woodwork in the accessible homes.

MID-ATLANTIC

Cleaned and prepped local summer camp Untamed Spirit for children with disabilities.

Helped Hopelink plant fruits and vegetables at their Chinook Farm.

VIRGINIA BEACH

PACIFIC NORTHWEST

SUMMER 2018 SUMMER 20184 5

Over 100 volunteers created a garden, built picnic tables and seating, assembled a new grill and more, transforming the grounds of the NJ Community Development Corp.’s new Youth Center in Paterson, NJ.

41 volunteers helped assemble 1307 backpacks worth of food for students in the local LA area.

Supported I Love a Clean San Diego by removing over 211 pounds of trash and other harmful debris from local beaches.

Partnered with Habitat For Humanity to prepare the community garden at Northridge Community Housing, an affordable housing cooperative, for spring planting.

Created “sweet cases” for Together We Rise for foster children to keep their belongings in as they move from home to home.

Cleaned up a wide stretch of beach, protecting sea life and beautifying the area for everyone!

SAN DIEGO LOS ANGELES

NORTHERN CALIFORNIA NEW YORK CITY

Supported New Ground’s first two family homes, which will provide housing to homeless veteran families, by donating furniture and refreshing landscaping.

Performed maintenance and clerical duties for Lifting Up Westchester at their homeless shelters and main office.

Assembled 540 “Snack Packs” for kids at the Rhode Island Community Food Bank.

Sorted and packed food at the North Texas Food Bank, which covers a 13-county service area feeding children, seniors and families in need.

LONG ISLAND WESTCHESTER / CT

NORTHEAST TEXAS

NEW JERSEY

ORANGE COUNTY

SUMMER 2018 7SUMMER 20186

Community Board 2.0

and each other. So far, these groups

have acted as a forum for messages we

haven’t seen before. Sometimes they help us

uncover frustrations and get the opportunity

to solve them, but even more often opening

up easy communication and collaboration

between residents, enhancing their overall

experience and helping building communty.

Starting in Q4 of last year, we added a new digital amenity to our communities: Resident-exclusive Facebook groups designed to replace the old community posting boards. These boards allow easy, two-way communication — sometimes between us and residents, sometimes between residents

Communities use the groups to post quick updates, like an amenity open for the summer, or a temporary outage to particular services.

Residents post about rule violations; not blaming us,

perhaps surprisingly on our side, apparently hoping to

shame rule breakers into compliance.

Residents post asking for help pet-sitting, sharing

useful things and other friendly neighborhood

assistance.

Residents sometimes use the forum to get rid of

things before moving.

Communities promote events using the forum,

both at the community and in the neighborhood.

When residents find (or lose) valuables, they now have a forum to post and share the information, which helps get things returned to their owners.

Residents often post requests for recommendations near to the community — who better than neighbors to help you find something in walking distance?

Residents with their ear to the ground often

share local news and inform their fellow residents

of new goings on — anything from neighborhood

events to new businesses coming in down the street.

Residents often volunteer to create mini-events — share unused tickets to local events, have

watching parties for popular shows, etc.

Anyone interested in watching the bachelorette premiere on the roof tomorrow?

SUMMER 2018 SUMMER 20188 9

AVBTalksLEARN. SHARE. CONNECT. GROW.

This year, our AVBTalks have given us special insight into the origins, career paths and unique perspective of the executive leadership of our company. The recordings are always saved in AVBU — we encourage you to check them out!

RECRUITING INITIATIVESNATIONAL HIRING DAY

IMPROVED REFERRAL PROGRAM

WHY DO WE DO IT?Over the past few years, the labor market has tightened and we are seeing some of the lowest unemployment rates in history. Finding new associates has become increasingly difficult as companies are now having to fight to attract new talent. Employers have had to start thinking of new, out of the box ways to attract top talent. In 2016, companies such as Chipotle, Macy’s and Limited Brands began experimenting with National Hiring events. These companies were experiencing positive successes while simultaneously boosting their brand.  Since AvalonBay has a national presence, replicating a similar type of event seemed logical.  Our goal was to make it as easy as possible for candidates to interview with our hiring managers, simplify the hiring process for our onsite teams so that they could fill their open positions as quickly as possible, and promote AvalonBay’s career opportunities and brand.

HOW DID WE START IT?In true AVB fashion, we started off small, piloting our first regional hiring event in October 2016 in Northern California. This regional event was the first of its kind for AVB. For one day only, we opened all of our community doors to candidates to walk in and interview on the spot. The event was a success! Using what we learned from the pilot, we were able to successfully launch our first National Hiring Event in 2017, welcoming candidates that wanted to work at AvalonBay to walk into any of our communities.  The event attracted approximately 1,000 candidates who interviewed with our onsite management teams for various Maintenance and Leasing positions. With our successful first National Hiring event, we launched our 2nd National Hiring event in February 2018 at select communities in each of our markets. This event has become an important and needed boost to our recruitment strategy.

WHAT’S NEXT?National Hiring Day has helped the recruitment team rethink how we recruit by making things easier for our prospective candidates to apply and to interview. This event has become an invaluable tool for the recruitment team as our hiring needs continue to increase with our expanding footprint across the US. We are continuously holding regional hiring events throughout the year based on the specific needs of each market. Our next National Hiring Event is scheduled for Q1 2019.

Employee referrals are the leading source of quality hires – not just at AVB, but nationally. Knowing that our great people know great people, we have ramped up and improved the associate referral program.

These changes include: making referrals easier to submit, ensuring every single referral is contacted by AvalonBay, and providing additional rewards for your efforts. 

Refer qualified candidates at referavb.com. To show our appreciation, we will enroll you in our quarterly drawing for a prize worth approximately $500! If your candidate is hired, and completes their 90 day

introductory period, you will also receive a net cash bonus: $500 for non-exempt hires; $1000 for exempt hires.

If you know someone who you think would be a good fit for AvalonBay, we want to get in touch. Check our careers page at jobs.avalonbay.com regularly for new openings!

For more details about the employee referral bonus program, visit the HR Office Suite at MyAvalonBay.com, and don’t hesitate to contact Talent Acquisition at referrals@avalonbay.com

720CANDIDATES INTERVIEWED

50NEW HIRES

2018 National Hiring Day Stats

To refer a new associate, make sure

to visit REFERAVB.com

LAWYER TURNED WALL STREET ANALYST TURNED CFO Dial up this talk to hear stories from Kevin O’Shea — everything from growing up in Lynnfield, Massachusetts and getting his friend to backflip in the pool to his journey through undergrad, law school and getting an MBA. You’ll learn about his outside perspective (at the time) on the Avalon and Bay merger from his perch on Wall Street as well as his insider view on AvalonBay’s future.

FROM BEACH BOY TO COOGrowing up a mile away from Surf City USA (Huntington Beach, California), Sean Breslin described himself as a kid who loved sports - from surfing to basketball. Since the start of his career, including his part-time high school job, he’s worked in real estate, carving a path through all aspects of our industry, leading to his current role as COO. With a house full of kids and crazy schedules, Sunday dinner at the Breslin household is a must-attend event.

CROSSING PATHS WITH THE OBAMASPlaying in the streets of the Upper West Side of NYC and later the green-er pastures of Westchester, Ted Schul-man recounts memories of his child-hood including an indelible snowball fight and an empty cross-country win. While he never met Michelle Obama while both were Princeton students, he does recall seeing the yet unknown 44th President, Barack, speaking at a student protest while both were at Harvard Law School. After life at a firm, Ted joined AVB as its first in-house lawyer and has built a strong team that guides us well.

To watch any of the above, visit myAvalonBay.com/AVBTalks

SUMMER 2018 11SUMMER 201810

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CLASS III

Q2 REFORECAST

Q1 REFORECASTQ3

REF

OREC

AST

CLAS

S II

CLAS

S I

LIFECYCLE OF THE AVB BUDGET

REFORECASTJust like the budget, once determined, the Reforecast is our guide to financial performance. Keeping expenses within its limits and revenue at its expectations ensures that we will achieve our overall goals.

BUDGET CREATIONCreating a budget as big and complex as ours is an iterative process — each step taking us closer to the plan that will guide us in the following year.

CLASS I — OCTThe Class I budget is a high level estimation of revenues and expenditures developed by the Financial Analysis team. It helps us strategize and set expectations as we begin to create the full plan.

CLASS II — SEP - DECThe Class II budget is the one everyone gets involved in. Every line item, every community and every overhead department carefully considers and weighs their plans for the next year, and what resources will be required to get through it, as well as what revenue we will bring in. This begins in September but gets intense through October and November, and is usually finalized right around Thanksgiving.

CLASS III — DEC - FEBOnce everyone has had the opportunity to weigh in on the budget, we go through the process of finalizing it — ensuring that, from a big picture perspective, we’ve planned and attributed resources to accomplish the goals we want to. Typically, the final budget is loaded into all our systems at the beginning of February.

The annual budget is an important strategic and management document. All our plans feed into it and depend on it, it sets our expectations for the year and then guides our actions in trying to meet (or beat) those expectations. This is how it comes into existence.

REFORECASTINGSince a good deal of creating a budget is predicting the future, we consider

it wise to check in periodically to ensure our assumptions are on track. In Q1 and Q3, these are small checks developed by the Financial

Analysis team, primarily for reference and strategy.

In Q2, however, we re-evaluate how the whole year is going and every assumption made in the original budget is re-evaluated.

While much of the budget may end up staying the same, this is an opportunity to course-correct, to ensure if we missed

any goals in the first half of the year, we use every tool in our arsenal to finish the year in line.

BUDGET TERMINOLOGY

Business Unit The business unit is the 5-digit code that represents

a community.* It also contains helpful information: the first two letters are the state where the community is

located, the third character represents if a community was purchased (typically beginning with an 8, or 5 for

the Archstone acquisition) or part of a fund (using a letter to represent which fund) or a 0 if it was developed.

*Phased communities may have multiple business units.

Department In our accounting, corporate offices all belong to the XCORP

business unit. Departments are divided using eight digit codes that represent various functional groups.

GL Code A General Ledger (GL) Code is a six-digit number that categorizes

the myriad variety of expenses and revenues that we deal with. It differentiates an associate birthday cake (601200, Associate

Recognition) from a lunch on a business trip (650300, Meals) or the corresponding airfare (650100, travel).

BUDGETOnce the budget is set, it becomes the

gauge by which we measure our financial performance throughout the year. Individual

departments and managers are judged on their ability to keep expenses within the budget, and meet (or beat) revenue

expectations.

SUMMER 2018 SUMMER 201812 13

HUMAN RIGHTS STATEMENT

AvalonBay is committed to the protection and advancement of human rights and to ensuring the

integrity of our operations in all of our regions. Our new public human rights statement outlines

principles that relate to and confirm key commitments in both our Code of Business Conduct and our

Responsible Procurement Principles.

$1,950,000Total cash and in-kind donations.

19%Increase in associate volunteer participation rate from 2016-17

#1R A N K E D # 1 A M O N G P U B L I C LY- T R A D E D A PA R T M E N T R E I T S

F O R O N L I N E R E P U TAT I O N

1,757Units of blood

collected, exceeding our 1,100-pint goal.

58%of AvalonBay residents

are much more likely or more likely to recommend us based

on our ESG initiatives and performance.

$64,868,000Rent subsidies in 4,641 affordable apartment homes

housing 9,190 residents.

T O P 1 0 0 U S - B A S E D C O M PA N Y

Top 100 US-based company to work for by Glassdoor.

BCDP score maintained in a

year when the CDP significantly raised the bar on achieving that grade.

Our customer mid-lease Net Promoter Score (NPS)

increased 32% in 2017.

CORE VALUES

WASTE GOAL

20%Decrease in

landfill-bound waste by 2023.

29

2 0 1 7

Awarded four “Green Stars” by GRESB for leadership in sustainability and an “A” for

transparent and public disclosure of ESG data.

A Commitment to Integrity

A Spitit of Caring A Focus on Continuous Improvement

Corporate Responsibility HighlightsStay tuned for the full 2017 Corporate Responsibility Report coming in July.

SUMMER 201814

This role was still very new when I applied and I liked

the idea of not only being more involved with systems & items behind the scenes (systems testing/upgrades, lease ups, redevelopment & the

many pilots we roll out) but being able to change and

upgrade many of our policies and procedures. I feel like my voice and on-site experience was being utilized to help better the company.

Being able to solve operational problems

and work on different projects, and I love the team I am a part of both regionally and nationally. Also

I feel constantly challenged.

That I don’t work in a silo.  We collaborate as ROMs a lot despite

being located in different corporate offices.  We share ideas and issues from each region and are a very cohesive team even with our geographic challenges.  So sometimes a

community may be trying out something that is completely new

in their region, but I can find out quickly if anyone else in AVB as a

whole has tried it out first.

If I want to better understand a process or procedure that our

onsite teams are doing, I will stop by to shadow and maybe even jump in to assist.

WHAT DREW YOU TO THIS ROLE?

WHAT DREW YOU TO THIS ROLE?

WHAT MIGHT SURPRISE YOU ABOUT WHAT I DO:

WHAT MIGHT SURPRISE YOU ABOUT WHAT I DO:

SR. ROMGINA

YATESNOCAL

20 YEARS

SR. ROM JENNIFER

PINTONY, NJ, CT

14 YEARS

ERIN NIEMELA

LA8 YEARS

REGIONAL OPERATIONS MANAGERSWhen a prospect applies but needs to change out their roommate before moving in, how do you do that? Can we change the MRI codes on an occupied apartment because their view is no longer obstructed? When you have these questions, who do you call?

At AVB it’s not the devil in the details, it’s the Regional Operations Manager. This regionally distributed team of associates serves as the reference point for nearly all on-site operational processes. They are experts in almost everything our office teams need to know; and if they don’t know the answer, they know where to find it.

From their position as the owners of process, they also serve a critical role in all new developments and initiatives that happen at the communities, supporting the development of new initiatives by serving as troubleshooters and a reference point to the status quo, as well as leading the pilot process and finally supporting the rollout.

The other thing this team shares is an incredible wealth of experience, averaging nearly 13 years a piece and having held a wide variety of positions at AvalonBay before their current roles. Each of these associates has built a career at AvalonBay, and gets to use their collected knowledge to help make the jobs of others a little easier – or at least make a lot more sense.

DENISEEVANS

MIDATLANTIC10 YEARS

The different people and systems I get to work

with. Every day is different!

WHAT I LIKE MOST ABOUT THIS ROLE:

RACHEL VALENCIA

SD/OC, PNW18 YEARS

I like that I am still learning after 4+

years of being in this role and that I am helping people. 

WHAT I LIKE MOST ABOUT THIS ROLE:

DEIRDREREILLY

NEW ENGLAND17 YEARS

SUMMER 2018 17

WHAT’S NEXT IN INNOVATIONAt AvalonBay, we never sit still. Here are just a few of the innovations we’re working on.

At the Customer Care Center, a new team of LSAs (Leasing Services Associates) is handling nearly all pre-tour lead follow-up for our Mid-Atlantic communities in an effort to respond faster and convert more leads to tours.

Since AVA NoMa’s early success, we have broadened the pilot to an additional 18 communities and have 170 apartments built, with low vacancy.  We are assessing pilot results now for consideration for broadening this program.

With 6 systems in DC and 1 in New Jersey, the total 1st year solar production is over 1.1 million KWh, Once they’re all fully in operation, they’ll save $128k in electricity and $415k in Solar Renewable Energy Credits (SREC).

So far, we’ve managed to migrate over 70 databases from Lotus Notes into myAvalonBay.com. While we still have many more to go, progress continues at a good pace!

We’re in the process of partnering with AIG to provide a more seamless offering for renter’s insurance.

Over 160 of our communities now have virtual tours of amenities and apartments posted on the avaloncommunities website. We should have 100% participation by the end of the year!

As of May, approximately 70 Amazon Hub package locker systems have been installed and are accepting packages, with 120 more communities still planned.

CENTRALIZED LEAD MANAGEMENT

FURNISHED HOUSING

SOLAR PANELS

LOTUS NOTES MIGRATION

RENTER’S INSURANCE

3D COMMUNITY TOURS

AMAZON HUB INSTALLATION

JAMES LEE — Redevelopment Project ManagerStructural Insulated Building Units: a new building system that could reduce construction and material waste by 30%.

SEAN STRAUSHEIM — Redevelopment Project SuperintendentJENNIFER BACKMAN — Redevelopment Asst. Project ManagerSolar Powered Trailer for Construction Sites: a solar power trailer may be easier to set up and less expensive in the long run across multiple projects.

ANTHONY HARTZ — Community ConsultantGym Membership for Non-Residents: offering gym membership beyond our resident base may offer additional revenue.

SUSIE MAGLICH — Director of DesignAVBTube for Maintenance/RS: experienced associates could shoot instructional videos to train new associates.

TOD SALMONSON — Sr. Community ManagerSnow Parking: In Northeastern garden communities, we could offer weekly parking during inclement weather.

JOSHUA THOMPSON — Construction Sourcing Sr. ManagerInsulated Concrete Forms (ICF): ICF construction could reduce operating expenses and enhance the resident living experience.

The six winning proposals will receive a research grant and support from AVB Labs team members to research their idea. After about 6 months, the research will be presented before a board, much like “Shark Tank.” Winning ideas will be chosen for implementation in an actual AVB development, redevelopment or existing community.

The 2018 AVB Labs winners have been selected!

The 2018 Earth Day winner has been selected!

AVALON OSSINING

The Avalon Ossining team helped organize a two-part aqueduct cleanup event getting residents involved in revitalizing a trail that

runs through their community.

SUMMER 2018 19SUMMER 201818

O R A N G E C O U N T Y : S E C O N D H A R V E S T F O O D B A N K * M I D - A T L A N T I C : D O O R W A Y S * A M E R I C A N R E D C R O S S C O A S T A L V I R G I N I A * M I D - A T L A N T I C E M P I R E H O M E S - 2 N D F R I D A Y * N E W Y O R K : C . H . I . P . S . B R O O K LY N M A I N T E N A N C E L E A D E R S H I P * C T - T O G E T H E R W E R I S E * S P I R I T O F C A R I N G - S W E E T C A S E D E C O R A T I N G * M I D -A T L A N T I C : S H E LT E R S T O S H U T T E R S W I N E T A S T I N G & R A F F L E * F A M I LY S E R V I C E L E A G U E I N C * N E W J E R S E Y C O M M U N I T Y D E V E L O P M E N T C O R P O R A T I O N I N C * L O N G I S L A N D - S P R I N G L A N D S C A P I N G F O R N E W G R O U N D I N C . * C T - O P E N D O O R S H E LT E R * I A T T E N D E D T H E V O L U N T E E R O R I E N T A T I O N A T T H E B I D E A W E E A N I M A L S H E LT E R A N D A D O P T I O N C E N T E R * O P E N D O O R S H E LT E R I N C * N O R T H E R N C A L I F O R N I A - H A B I T A T F O R H U M A N I T Y E A S T B A Y / S I L I C O N V A L L E Y * B O S T O N - R O S I E ’ S P L A C E * C A R E P A C K S * M I D - A T L A N T I C : D A S H S P R I N G C L E A N U P * C C C V A B E A C H - S P R I N G B L O O D D R I V E D O N O R * S P I R I T O F C A R I N G : S W E E T C A S E S * J V S L U N C H E O N * S P E C I A L N E E D S P A R E N T S U P P O R T A D V O C A T E * B R A I N T R E E C O M M U N I T Y P A R T N E R S H I P O N S U B S T A N C E U S E * L O N G I S L A N D - S U N R I S E W A L K S L I * B U D D Y D O G H U M A N E S O C I E T Y * C C C V A B E A C H - C A M P H O P E H A V E N S U M M E R P R E P * A R L I N G T O N B R E A T C A N C E R C E N T E R * B U F F A L O B A Y O U P A R T N E R S H I P * N E W Y O R K : B O W E R Y M I S S I O N V O L U N T E E R E V E N T * H A V E N F R O M H U N G E R O F P E A B O D Y I N C * N Y C - S P I R I T O F C A R I N G - S W E E T C A S E S * A L P H A G A M M A D E LT A - A D V I S O R I N T E R V I E W S , C O N V E N T I O N P R E P , E X T E N S I O N W O R K , V O L U N T E E R R E P O R T I N G * A M E R I C A N R E D C R O S S * M I D A T L A N T I C : A R L I N G T O N F R E E C L I N I C : M O T H E R ’ S D A Y A S S E M B LY * H A B I T A T F O R H U M A N I T Y E A S T B A Y / S I L I C O N V A L L E Y * S C I T U A T E F O O D P A N T R Y * C C C V A B E A C H - S O U N D T H E A L A R M .S A V E A L I F E * C C C V A B E A C H - S P R I N G B L O O D D R I V E A S S I S T A N C E * B O S T O N - R E D C R O S S C P R T R A I N I N G * M I D - A T L A N T I C : A M E R I C A N R E D C R O S S G O L F T O U R N A M E N T * N E W J E R S E Y - F A R A , S E A S I D E S T R I D E * C H I L D R E N S H O M E S O C I E T Y O F N E W J E R S E Y * P A C I F I C N O R T H W E S T : Y M C A H E A LT H Y K I D S D A Y * S P E C I A L O LY M P I C S P E N N S Y L V A N I A I N C * N E W Y O R K : C L I N T O N N O R T H / C L I N T O N S O U T H ’ S S W E E T C A S E S E V E N T * C C C V I R G I N I A B E A C H - U N T A M E D S P I R I T * L O S A N G E L E S : F R I E N D S O F T H E L A R I V E R C L E A N - U P * L I F T I N G U P W E S T C H E S T E R I N C * C C C V A B E A C H C O R P O R A T E C H A L L E N G E K I C K B A L L * A F A C : A R L I N G T O N F O O D A S S I S T A N C E C E N T E R ( A F A C ) L O C A T E D A T 2 7 0 8 S N E L S O N S T , A R L I N G T O N , V A 2 2 2 0 6 F R O M 1 0 A M U N T I L N O O N . * C C C V A B E A C H - R I S E A G A I N S T H U N G E R M E A L P A C K A G I N G E V E N T * D A V * N E W Y O R K : B O W E R Y M I S S I O N I N S P I R I N G H O P E L U N C H E O N * M I D - A T L A N T I C - H A B I T A T F O R H U M A N I T Y D C : B U I L D D A Y # 2 * M I D - A T L A N T I C E M P I R E H O M E S - 3 R D F R I D A Y * F E E D M Y S T A R V I N G C H I L D R E N * N O R T H E R N C A L I F O R N I A : P A R K C L E A N U P , B A Y L A N D S P A R K S U N N Y V A L E * N E W G R O U N D * T O G E T H E R W E R I S E C O R P O R A T I O N * B O S T O N - P I N E S T R E E T I N N * B U D D Y D O G H U M A N E S O C I E T Y I N C * C R A D L E S T O C R A Y O N S I N C * C T - S U N R I S E D A Y C A M P - B A T H R O O M R E N O V A T I O N * S P I R T O F C A R I N G - T O G E T H E R W E R I S E B A G S * M I D - A T L A N T I C : H O R I Z O N D A Y C A M P - C A M P S I G N S * M I D - A T L A N T I C - F R E E L I T T L E L I B R A R Y * A M E R I C A N R E D C R O S S O F M A S S A C H U S E T T S V I A A M E R I C A N R E D C R O S S * O R A N G E C O U N T Y : B E A C H C L E A N U P * W O R C E S T E R P O LY T E C H N I C I N S T I T U T E C I V I L E N G I N E E R I N G A D V I S O R Y B O A R D , W O R C E S T E R , M A * N E W J E R S E Y : T H E C H I L D R E N ’ S H O M E S O C I E T Y * B O S T O N - R E D C R O S S F O O D P A N T R Y * N E W J E R S E Y - O N E S I M P L E W I S H * L O N G I S L A N D - S P R I N G L A N D S C A P I N G F O R N E W G R O U N D I N C . * M I D - A T L A N T I C : P L A N T E R B E N C H R E H A B I L I T A T I O N A N D W E A T H E R I Z A T I O N ( A P A H ) * M I D - A T L A N T I C : H O R I Z O N O N W H E E L S - C R A F T K I T A S S E M B LY * S A C R E D H E A R T S C H O O L F U N D A Y , K I N G S T O N , M A * C T - N A T I O N A L R E D N O S E D A Y * S P I R I T O F C A R I N G S W E E T C A S E S * O N E S I M P L E W I S H * N E W J E R S E Y - C P R T R A I N I N G * T H E C E N T E R F O R G R E A T E X P E C T A T I O N S I N C * C C C V I R G I N I A B E A C H - R I S E A G A I N S T H U N G E R M E A L P A C K A G I N G E V E N T * N E W J E R S E Y - C H I L D R E N ’ S H O M E S O C I E T Y * F U R M A N C E N T E R M E E T I N G * M I D - A T L A N T I C - H A B I T A T F O R H U M A N I T Y D C : B U I L D D A Y # 3 * L O S A N G E L E S W O M E N ’ S S H E LT E R F E E D T H E H O M E L E S S * H A B I T A T F O R H U M A N I T Y F R E M O N T C A * N E W Y O R K : B O W E R Y M I S S I O N L U N C H S E R V I C E * R E D C R O S S B L O O D D R I V E - R E G . D E S K * L O S A N G E L E S D O W N T O W N W O M E N ’ S S H E LT E R * S A N F R A N C I S C O / S A N J O S E - S E C O N D H A R V E S T F O O D B A N K - S A N C A R L O S * S H E LT E R S T O S H U T T E R S * A L P H A G A M M A D E LT A C H A P T E R D E V E L O P M E N T S U P P O R T * C H A P E R O N E D U T Y A T W I N D H A M , N H M I D D L E S C H O O L * D O W N T O W N W O M E N S C E N T E R * T O W N O F W I LT O N * F A T H E R B I L L’ S & M A I N S P R I N G , I N C . * P A C I F I C N O R T H W E S T : H A B I T A T F O R H U M A N I T Y S T O R E * C T - S U N R I S E D A Y C A M P B A T H R O O M * A F T E R S C H O O L L O S A N G E L E S A L L S T A R S * L A A L L S T A R S B O O K R E A D I N G * N E W Y O R K : F O R T G R E E N E / B R O O K LY N B A Y ’ S S W E E T C A S E S E V E N T * L O S A N G E L E S R E G I O N A L F O O D B A N K * E M P I R E H O M E S O F M A R Y L A N D I N C * M I D - A T L A N T I C : A M E R I C A N R E D C R O S S - A R L I N G T O N , V A * N E W J E R S E Y - R O N A L D M C D O N A L D H O U S E * S A N D I E G O H A B I T A T F O R H U M A N I T Y * K I D S M E A L S I N C * V O L U N T E E R C O A C H F O R T H E M O N T G O M E R Y C O U N T Y R O A D R U N N E R S , A 5 0 1 ( C ) ( 3 ) O R G A N I Z A T I O N * N Y - L I F T I N G U P W E S T C H E S T E R * I L O V E A C L E A N B E A C H * N E W Y O R K : R I V E R V I E W / R I V E R V I E W N O R T H ’ S S W E E T C A S E S E V E N T * C C C V A B E A C H C O R P O R A T E C H A L L E N G E B O W L I N G * P A C I F I C N O R T H W E S T : H O P E L I N K H A R V E S T * A R E A C O N G R E G A T I O N S T O G E T H E R I N C * N E W J E R S E Y - E L I J A H ’ S P R O M I S E S O U P K I T C H E N * W O L F T R A P F O U N D A T I O N F O R T H E P E R F O R M I N G A R T S * N E W J E R S E Y - A M E R I C A N R E D C R O S S , B L O O D D R I V E * D I S M A S H O U S E O F M A S S A C H U S E T T S I N C * N E W J E R S E Y - T H E G I V I N G G A R D E N * N E W Y O R K : W I L L O U G H B Y S Q U A R E /D O B R O ’ S S W E E T C A S E S E V E N T * B O S T O N - C R A D L E S T O C R A Y O N S * C Y S T I C F I B R O S I S F O U N D A T I O N - G R E A T E R N E W Y O R K C H A P T E R - W E S T C H E S T E R V I A C Y S T I C F I B R O S I S F O U N D A T I O N - N A T I O N A L H E A D Q U A R T E R S * C P R T R A I N I N G A V A L O N S O M E R S E T * C O A L C R E E K F A M I LY Y M C A V I A Y M C A O F G R E A T E R S E A T T L E * L I N C ’ S D R . S E U S S ’ B I R T H D A Y L I T E R A C Y E V E N T, P S 1 8 9 - 2 5 8 0 A M S T E R D A M A V E N U E , N Y , N Y 1 0 0 4 0 * C T - S P O O N E R H O U S E * N E W Y O R K : W E S T C H E L S E A / H I G H L I N E ’ S S W E E T C A S E S E V E N T * L O S A N G E L E S F O O D B A N K * N E W J E R S E Y - M A I N T E N A N C E B I K E B U I L D * B O S T O N - S T . F R A N C I S H O U S E * S P E C I A L O LY M P I C S N E W Y O R K I N C * N E W J E R S E Y - N J C D C , R E G I O N A L E V E N T, A L L O F N E W J E R S E Y * M I D A T L A N T I C : A P A H B O O K P A R T Y & I C E C R E A M S O C I A L * D I S T R I C T A L L I A N C E F O R S A F E H O U S I N G I N C * N E W G R O U N D * N E W J E R S E Y , W O O D B R I D G E O F F I C E - C E N T E R F O R G R E A T E X P E C T A T I O N S * M I D - A T L A N T I C - H A B I T A T F O R H U M A N I T Y D C : B U I L D D A Y # 1 * B O S T O N - R H A C A R I T A S C O M M U N I T I E S S I T E C L E A N - U P S * B O S T O N - C O M M U N I T Y H A R V E S T P R O J E C T * B O W E R Y M I S S I O N F O U N D A T I O N I N C * V O L U N T E E R A T T H E B O S T O N M A R A T H O N E X P O * N Y - T O G E T H E R W E R I S E * P H I L A D E L P H I A R O N A L D M C D O N A L D H O U S E * A R L I N G T O N F O O D A S S I S T A N C E C E N T E R * C A R D I N A L S P E L L M A N H S C A R E E R D A Y , 1 C A R D I N A L S P E L L M A N P L A C E , B R O N X , N Y 1 0 4 6 6 * M I D - A T L A N T I C E M P I R E H O M E S - 1 S T F R I D A Y * N E W J E R S E Y - N J C D C