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← REX HEALTHCARE INC

Form 990 for tax year 2024

Filed by REX HEALTHCARE INC.

Totals

Total revenue
$8,014,766
Total expenses
$8,037,736
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,245,683
Investment income
$272
Other revenue
$6,768,811
Total assets, end of year
$2,772,011
Total liabilities, end of year
$2,954,769
Net assets or fund balances, end of year
-$182,758
Program services expenses (Part IX)
$7,613,261
Management and general expenses
$424,475
Fundraising expenses
$0
Program service expenses (Part III)
$7,613,261

Program services were 94.7% 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.

  • 2a · Program service revenue: PATIENT SERVICE REVENUE

    total $1,245,683 · related or exempt $1,245,683

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $272 · excluded $272

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: COST REIMBURSEMENT

    total $6,768,811 · excluded $6,768,811

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $6,768,811

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 7 · Other salaries and wages

    total $4,206,695 · program services $4,206,695

  • 8 · Pension plan contributions

    total $109,907 · program services $109,907

  • 9 · Other employee benefits

    total $381,561 · program services $381,561

  • 10 · Payroll taxes

    total $319,294 · program services $319,294

  • 11b · Fees: legal

    total $200 · management and general $200

  • 11g · Fees: other

    total $1,060,372 · program services $1,060,372 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $85,241 · management and general $85,241

  • 16 · Occupancy

    total $28,578 · program services $28,578

  • 17 · Travel

    total $12,084 · program services $12,084

  • 19 · Conferences, conventions and meetings

    total $1,169 · management and general $1,169

  • 20 · Interest

    total $46,290 · management and general $46,290

  • 22 · Depreciation, depletion and amortization

    total $288,575 · management and general $288,575

  • 23 · Insurance

    total $3,000 · management and general $3,000

  • 24a · Other expenses: PATIENT CARE & SERVICES

    total $1,353,998 · program services $1,353,998

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $135,408 · program services $135,408

  • 24c · Other expenses: MINOR EQUIPMENT AND R&M

    total $3,348 · program services $3,348

  • 24d · Other expenses: OTHER

    total $2,016 · program services $2,016

  • 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 $122,625 · end of year $449,882

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,094,727 · end of year $1,711,901

  • 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 $1,458 · end of year $1,458

  • 9 · Prepaid expenses and deferred charges

    beginning of year -$42,970 · end of year $4,257

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

    $2,549,528

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

    $1,945,015

  • 10c · Land, buildings and equipment, net

    beginning of year $852,535 · end of year $604,513

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 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 $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,207,781 · end of year $2,253,505

  • 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 $980,382 · end of year $701,264

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$159,788 · end of year -$182,758

Mission and programs · 2024

Mission

PRIMARY EXEMPT PURPOSE - TO OPERATE, PROMOTE AND ADVANCE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES BY SUPPORTING AND OPERATING FOR THE BENEFIT OF ITS SOLE MEMBER, THE UNIVERSITY OF NORTH CAROLINA HEALTH CARE SYSTEM, AND ITS SUPPORTED ORGANIZATIONS.

Activities or mission (Part I)

THE COORDINATION OF ACTIVITIES SUPPORTING UNIVERSITY OF NORTH CAROLINA HEALTH CARE SYSTEM AND ITS CHARITABLE TAX-EXEMPT AFFILIATES.

  • TO OPERATE, PROMOTE AND ADVANCE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES BY SUPPORTING AND OPERATING FOR THE BENEFIT OF ITS SOLE MEMBER, THE UNIVERSITY OF NORTH CAROLINA HEALTH CARESYSTEM, AND ITS SUPPORTED ORGANIZATIONS.

    Expenses $7,613,261 · Revenue $1,245,683

As filed on the 2024 return.

Listed in Part VII

  • Jeff Lindsay

    Director/President & Chairman

    Total calculated
    $2,935,019
    From this org
    $0
    From related orgs
    $2,583,593
    Other
    $351,426
    Hours/week
    1 + 61 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,289,430 related
    Bonus
    $0 + $1,260,003 related
    Other
    $0 + $34,160 related
    Deferred
    $0 + $335,275 related
    Nontaxable benefits
    $0 + $16,151 related
    Filer's total
    $0 + $2,935,019 related

  • Will Bryant

    Director/Treasurer & Secretary

    Total calculated
    $1,663,727
    From this org
    $0
    From related orgs
    $1,421,082
    Other
    $242,645
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $958,812 related
    Bonus
    $0 + $417,677 related
    Other
    $0 + $44,593 related
    Deferred
    $0 + $226,323 related
    Nontaxable benefits
    $0 + $16,322 related
    Filer's total
    $0 + $1,663,727 related

  • Lynne Fiscus MD

    Director

    Total calculated
    $926,181
    From this org
    $0
    From related orgs
    $793,335
    Other
    $132,846
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $567,578 related
    Bonus
    $0 + $217,658 related
    Other
    $0 + $8,099 related
    Deferred
    $0 + $101,463 related
    Nontaxable benefits
    $0 + $31,383 related
    Filer's total
    $0 + $926,181 related

  • Matthew Ewend MD

    Director

    Total calculated
    $1,891,862
    From this org
    $0
    From related orgs
    $1,676,929
    Other
    $214,933
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,060,083 related
    Bonus
    $0 + $556,012 related
    Other
    $0 + $60,834 related
    Deferred
    $0 + $198,611 related
    Nontaxable benefits
    $0 + $16,322 related
    Filer's total
    $0 + $1,891,862 related

  • Ernest Bovio Jr

    Former Director

    Total calculated
    $124,570
    From this org
    $0
    From related orgs
    $119,270
    Other
    $5,300
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $48,846 related
    Bonus
    $0
    Other
    $0 + $70,424 related
    Deferred
    $0 + $2,886 related
    Nontaxable benefits
    $0 + $2,414 related
    Filer's total
    $0 + $124,570 related

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

None.

Answered no

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

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

No itemized grants to organizations 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • UNC HEALTH PARTNERS LLC

    HEALTHCARE · NC · income $0 · assets $0

    Directly controlled by REX HEALTHCARE

  • UNC HEALTH NOW LLC

    HEALTHCARE · NC · income $5,609,486 · assets $431,421

    Directly controlled by REX HEALTHCARE

  • UNC HEALTH PROSTHETICS THOTICS LLC

    HEALTHCARE · NC · income $2,405,032 · assets $3,134,121

    Directly controlled by REX HEALTHCARE

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • REX SURGERY CENTER OF CARY

    N/A · ASC · NC

    Directly controlled by NA

  • JRH VENTURES LLC

    N/A · MED CAMPUS DEVLOP. · NC

    Directly controlled by NA

  • REX HEALTH VENTURES I LP

    N/A · VENTURE CAP. INV. · NC

    Directly controlled by NA

  • ORTHOPAEDIC SURGERY CENTER OF RALEIGH

    N/A · ORTHOPAEDIC SURG. · NC

    Directly controlled by NA

  • TRO VENTURES LLC

    N/A · HEALTHCARE · NC

    Directly controlled by NA

  • REX SURGERY CENTER OF WAKEFIELD

    N/A · ASC · NC

    Directly controlled by NA

  • N CHAPEL HILL SURGERY CTR LLC

    N/A · HEALTHCARE · NC

    Directly controlled by NA

Related corporations and trusts

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

  • REX ENTERPRISES COMPANY INC

    C Corporation · OPERATION SUPPORT · NC · share of income $0 · share of assets $0

    Directly controlled by UNC HEALTHCARE

  • UNC PHYSICIANS GRP PRACTICES II LLC

    C Corporation · HEALTHCARE · NC · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by REX HEALTHCARE

  • UNC HEALTH INNOVATIONS INC

    C Corporation · OPERATION SUPPORT · NC · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by REX HEALTHCARE

Provenance

Return type
form_990
Tax year
2024
Filed
7 April 2026
IRS schema version
2024v5.1
Source object
202640979349300449

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