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Nonprofiteer
← CENTRA HEALTH FOUNDATION

Form 990 for tax year 2024

Filed by CENTRA HEALTH FOUNDATION.

Totals

Total revenue
$4,874,350
Total expenses
$8,198,627
Contributions and grants received
$1,791,432
Grants paid
$6,335,645
Program service revenue
$0
Investment income
$3,094,524
Other revenue
-$11,606
Total assets, end of year
$82,820,771
Total liabilities, end of year
$441,660
Net assets or fund balances, end of year
$82,379,111
Program services expenses (Part IX)
$6,521,423
Management and general expenses
$1,399,431
Fundraising expenses
$277,773
Program service expenses (Part III)
$6,521,423

Program services were 79.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $508,207

  • 1f · All other contributions, gifts and grants

    $1,283,225

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,086,473 · excluded $2,086,473

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $1,861,926 · other assets $1,035,193

  • 7b · Less cost or other basis and sales expenses

    securities $1,008,030 · other assets $881,038

  • 7c · Gain or loss

    securities $853,896 · other assets $154,155

  • 7d · Net gain or loss

    total $1,008,051 · excluded $1,008,051

  • 8a · Fundraising events: gross income

    $70,044

  • 8a · Fundraising events: contributions included on line 1c

    $508,207

  • 8b · Fundraising events: direct expenses

    $81,650

  • 8c · Net income from fundraising events

    total -$11,606 · excluded -$11,606

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,136,739 · program services $6,136,739

  • 2 · Grants to domestic individuals

    total $198,906 · program services $198,906

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $348,086 · management and general $261,065 · fundraising $87,021

  • 7 · Other salaries and wages

    total $576,445 · management and general $432,334 · fundraising $144,111

  • 8 · Pension plan contributions

    total $26,072 · management and general $19,554 · fundraising $6,518

  • 9 · Other employee benefits

    total $70,867 · management and general $53,150 · fundraising $17,717

  • 10 · Payroll taxes

    total $57,123 · management and general $42,842 · fundraising $14,281

  • 11a · Fees: management

    total $32,500 · management and general $24,375 · fundraising $8,125

  • 11c · Fees: accounting

    total $18,000 · management and general $18,000

  • 11f · Fees: investment management

    total $508,610 · management and general $508,610

  • 11g · Fees: other

    total $185,778 · program services $185,778 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $507 · management and general $507

  • 13 · Office expenses

    total $20,573 · management and general $20,573

  • 14 · Information technology

    total $5,485 · management and general $5,485

  • 16 · Occupancy

    total $4,006 · management and general $4,006

  • 17 · Travel

    total $444 · management and general $444

  • 19 · Conferences, conventions and meetings

    total $8,486 · management and general $8,486

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $577,106 · end of year $488,009

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $320,343 · end of year $343,099

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $903,038 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $57,708,332 · end of year $54,997,555

  • 12 · Investments: other securities

    beginning of year $24,760,885 · end of year $26,970,108

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $22,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,989 · end of year $19,052

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,496,292 · end of year $422,608

  • 27 · Net assets without donor restrictions

    beginning of year $1,573,424 · end of year $756,455

  • 28 · Net assets with donor restrictions

    beginning of year $79,189,999 · end of year $81,622,656

Mission and programs · 2024

Mission

See Schedule O.

Activities or mission (Part I)

TO PROVIDE SUPPORT TO THE CENTRA HEALTHCARE SYSTEM.

  • THE CENTRA FOUNDATION HAS MADE A WIDE RANGE OF CONTRIBUTIONS TOWARD THE HEALTH CARE NEEDS OF OUR REGION. FUNDS RAISED IN 2024 TO SUPPORT CENTRA HEALTH, INC IN CONTINUING TO PROVIDE QUALITY HEALTHCARE TO THE RESIDENTS OF LYNCHBURG, VA AND THE SURROUNDING COMMUNITIES WERE: A - SUPPORT CENTRA HEALTH, INC IN CONTINUING TO PROVIDE QUALITY HEALTHCARE TO THE RESIDENTS OF LYNCHBURG, VA AND THE SURROUNDING COMMUNITIES. FOR THE YEAR ENDING 12/31/2024 THE FOUNDATION PROVIDED $6,335,645 IN SUPPORT TO CENTRA HEALTH, INC. B - DEVELOP RESOURCES OF $948,979 TO FUND INDIGENT PATIENT CARE AT CENTRA HEALTH FACILITIES IN 2024. C - ASSIST CENTRA HEALTH, INC. BY PROVIDING EQUIPMENT AND FACILITIES FUNDING OF $99,538 IN 2024.

    Expenses $6,521,423 · Grants $6,335,645

As filed on the 2024 return.

Listed in Part VII

  • BETH DOYLE

    EXEC VICE PRESIDENT

    Total calculated
    $348,086
    From this org
    $322,737
    From related orgs
    $0
    Other
    $25,349
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $253,994
    Bonus
    $39,640
    Other
    $29,103
    Deferred
    $11,032
    Nontaxable benefits
    $14,317
    Filer's total
    $348,086

  • CAROLYN W JACQUES

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • DOUGLAS DAVENPORT

    SVP CHIEF FINANCIAL OFFICER (thru 8/14/2024)

    Total calculated
    $1,829,074
    From this org
    $0
    From related orgs
    $1,801,574
    Other
    $27,500
    Hours/week
    2 + 52 related

    Schedule J breakdown matched by us

    Base
    $0 + $464,372 related
    Bonus
    $0 + $246,262 related
    Other
    $0 + $1,090,940 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $10,250 related
    Filer's total
    $0 + $1,829,074 related

  • GEORGE A HURT

    BOARD VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • RICHARD TUGMAN

    CENTRA PRESIDENT/CEO (as of 4/18/2024)

    Total calculated
    $837,122
    From this org
    $0
    From related orgs
    $782,536
    Other
    $54,586
    Hours/week
    2 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $724,359 related
    Bonus
    $0 + $41,139 related
    Other
    $0 + $17,038 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $37,336 related
    Filer's total
    $0 + $837,122 related

  • AMY CARRIER

    PRESIDENT/CEO (thru 4/18/2024)

    Total calculated
    $2,878,656
    From this org
    $0
    From related orgs
    $2,851,509
    Other
    $27,147
    Hours/week
    2 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $448,984 related
    Bonus
    $0 + $1,061,495 related
    Other
    $0 + $1,341,030 related
    Deferred
    $0 + $15,022 related
    Nontaxable benefits
    $0 + $12,125 related
    Filer's total
    $0 + $2,878,656 related

  • Augustus A Petticolas DDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cameron Patterson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Charlie White

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Darryl Whitesell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Frantz MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • George Zippel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Harry Cap Eschenroeder MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jenna Lloyd-Fisher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John H Sorrells III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MaryJane Dolan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Paul F Fitzgerald MD

    DIRECTOR, EMERITUS

    Total calculated
    $0
    Hours/week
    2

  • Pavan Thallapragada

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • R Sackett Wood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Cook

    DIRECTOR

    Total calculated
    $218,350
    From this org
    $0
    From related orgs
    $218,350
    Other
    $0
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,350 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $218,350 related

  • Robert R Chapman III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Thomas Delaney MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Traci Blido

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Verna Sellers MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William VanDyke MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ROB TONKINSON

    SVP CHIEF FINANCIAL OFFICER (as of 8/14/2024)

    Total calculated
    $294,231
    From this org
    $0
    From related orgs
    $294,231
    Other
    $0
    Hours/week
    2 + 52 related

    Schedule J breakdown matched by us

    Base
    $0 + $294,231 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $294,231 related

  • ALLISON EBERT

    CP CENTRA FOUNDATION, CHIEF PHILANTHROPHY OFFICER

    Total calculated
    $130,103
    From this org
    $110,933
    From related orgs
    $0
    Other
    $19,170
    Hours/week
    50

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
CENTRA HAS ESTABLISHED A COMPENSATION COMMITTEE, WHICH CONSISTS OF THE CHAIRMAN OF CENTRA'S BOARD OF DIRECTORS PLUS FOUR ADDITIONAL MEMBERS OF CENTRA'S BOARD OF DIRECTORS. ALL FIVE MEMBERS MEET THE IRS FORM 990 INDEPENDENCE DEFINITION. MEMBERS OF THIS COMMITTEE REVIEW RELEVANT SALARY AND BENEFIT DATA FROM VARIOUS SOURCES AND MAKE RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE OF CENTRA'S BOARD OF DIRECTORS WITH RESPECT TO THE SALARY RANGE AND BENEFITS FOR THE CEO. THE EXECUTIVE COMMITTEE REVIEWS AND HAS FINAL APPROVAL OF THE CEO'S COMPENSATION. METHODS USED TO DETERMINE SALARY RANGES AND ADJUSTMENTS INCLUDE, BUT ARE NOT LIMITED TO, INDEPENDENT COMPENSATION CONSULTANT(S) AS WELL AS THIRD PARTY COMPENSATION SURVEYS AND/OR STUDIES.
Schedule J, Part I, Line 4a Severance or change-of-control payment
THE FOLLOWING INDIVIDUALS HAD SEVERANCE DURING FY 2024. NAME: AMY CARRIER TITLE: PRESIDENT/CEO (THRU 4/18/2024) AMOUNT OF SEVERANCE PAYMENT: $818,727 NAME: DOUGLAS DAVENPORT TITLE: SVP CHIEF FINANCIAL OFFICER (THRU 8/14/2024) AMOUNT OF SEVERANCE PAYMENT: $1,085,276 TOTAL: $1,904,003
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOLLOWING INDIVIDUALS RECEIVED A PAYOUT FROM A NONQUALIFIED RETIREMENT PLAN DURING FY 2024. THE AMOUNT WAS INCLUDED IN THEIR W-2 WAGES. NAME: AMY CARRIER TITLE: PRESIDENT/CEO (THRU 4/18/2024) AMOUNT OF PAYOUT: $706,576 NAME: DOUGLAS DAVENPORT TITLE: SVP CHIEF FINANCIAL OFFICER (THRU 8/14/2024) AMOUNT OF PAYOUT: $99,836 NAME: RICHARD TUGMAN TITLE: PRESIDENT/CEO (AS OF 4/18/2024) AMOUNT OF PAYOUT: $41,139 NAME: BETH DOYLE TITLE: EXEC VICE PRESIDENT AMOUNT OF PAYOUT: $24,775 TOTAL: $872,326

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GENERAL BUSINESS CONCERNS INC

    C Corporation · Real Estate Holding Company · VA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by CENTRA HEALTH Inc

  • PIEDMONT COMMUNITY HEALTH PLAN INC

    C Corporation · HEALTH INSURANCE COMPANY · VA · 0% owned · share of income $0 · share of assets $0

    Directly controlled by CENTRA HEALTH Inc

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.1
Source object
202533099349304003

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