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Nonprofiteer
← FOUNDATION OF FIRSTHEALTH INC

Form 990 for tax year 2023

Filed by FOUNDATION OF FIRSTHEALTH INC.

Totals

Total revenue
$11,551,900
Total expenses
$12,350,253
Contributions and grants received
$8,549,355
Grants paid
$10,483,085
Program service revenue
not reported
Investment income
not reported
Other revenue
not reported
Total assets, end of year
not reported
Total liabilities, end of year
not reported
Net assets or fund balances, end of year
not reported
Program services expenses (Part IX)
$11,443,191
Management and general expenses
$882,131
Fundraising expenses
$24,931
Program service expenses (Part III)
$11,443,191

Program services were 92.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Dr Daniel Barnes

    Member

    Total calculated
    $873,538
    From this org
    $0
    From related orgs
    $802,647
    Other
    $70,891
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $0 + $516,010 related
    Bonus
    $0 + $235,403 related
    Other
    $0 + $51,234 related
    Deferred
    $0 + $52,312 related
    Nontaxable benefits
    $0 + $18,579 related
    Filer's total
    $0 + $873,538 related

  • Kathy Stockham

    Foundation President

    Total calculated
    $463,286
    From this org
    $0
    From related orgs
    $423,309
    Other
    $39,977
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $261,480 related
    Bonus
    $0 + $134,657 related
    Other
    $0 + $27,172 related
    Deferred
    $0 + $21,450 related
    Nontaxable benefits
    $0 + $18,527 related
    Filer's total
    $0 + $463,286 related

  • Mickey Foster

    FHC President & CEO

    Total calculated
    $1,757,622
    From this org
    $0
    From related orgs
    $1,570,478
    Other
    $187,144
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $0 + $1,005,213 related
    Bonus
    $0 + $521,737 related
    Other
    $0 + $43,528 related
    Deferred
    $0 + $168,520 related
    Nontaxable benefits
    $0 + $18,624 related
    Filer's total
    $0 + $1,757,622 related

  • Amy Crabtree

    Member

    Total calculated
    $0
    Hours/week
    1

  • Art Medeiros

    Chair (thru 12/31/2023) Past Chair (as of 1/1/2024)

    Total calculated
    $0
    Hours/week
    1

  • Brian Smith

    Asst. Secretary (as of 1/1/2024)

    Total calculated
    $0
    Hours/week
    1

  • Cathy Schlaff

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Cindy Goodman

    Member

    Total calculated
    $0
    Hours/week
    1

  • Connie Fensterstock

    Member

    Total calculated
    $0
    Hours/week
    1

  • Dr Art Edgerton

    Member

    Total calculated
    $0
    Hours/week
    1

  • Dr John Ellis

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Dr Matt Harmody

    Member (as of 1/1/2024)

    Total calculated
    $0
    Hours/week
    1

  • Dr Robert Sponzo

    Member

    Total calculated
    $0
    Hours/week
    1

  • James J Jackson

    Member

    Total calculated
    $0
    Hours/week
    1

  • James Obi

    Member

    Total calculated
    $0
    Hours/week
    1

  • John DeVault

    Past Chair (thru 12/31/2023)

    Total calculated
    $0
    Hours/week
    1

  • Jude Winkley

    Member (as of 1/1/2024)

    Total calculated
    $0
    Hours/week
    1

  • Judith Kelley

    Member (as of 1/1/2024)

    Total calculated
    $0
    Hours/week
    1

  • Karen Fitch

    Asst. Secretary (thru 12/31/2023) Chair (as of 1/1/2024)

    Total calculated
    $0
    Hours/week
    1

  • Kerry Hensley

    Member

    Total calculated
    $0
    Hours/week
    1

  • Nancy Kaeser

    Member

    Total calculated
    $0
    Hours/week
    1

  • Rich Holada

    Member

    Total calculated
    $0
    Hours/week
    1

  • Robert Bahner

    Member

    Total calculated
    $0
    Hours/week
    1

  • Robert Lovell

    Member

    Total calculated
    $0
    Hours/week
    1

  • Ronald Ballard

    Asst. Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Rusty Welch

    Member

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Casey

    FHC Corporate CFO

    Total calculated
    $780,848
    From this org
    $0
    From related orgs
    $713,120
    Other
    $67,728
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $455,875 related
    Bonus
    $0 + $208,254 related
    Other
    $0 + $48,991 related
    Deferred
    $0 + $49,250 related
    Nontaxable benefits
    $0 + $18,478 related
    Filer's total
    $0 + $780,848 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4b Supplemental nonqualified retirement plan
Through a related organization, the following individual PARTICIPATED IN CAP-EX (a split dollar life insurance arrangement in place of a traditional SERP). During 2023 the following received amounts paid under the terms of the SERP: -Mickey Foster: $119,780
Schedule J, Part II
ALL EMPLOYEES OF THE FOUNDATION OF FIRSTHEALTH, INC. ARE LEASED FROM FIRSTHEALTH OF THE CAROLINAS, INC. FIRSTHEALTH'S BOARD OF DIRECTORS DETERMINES COMPENSATION FOR THE CEO THROUGH ITS COMPENSATION COMMITTEE ("COMMITTEE"). THE COMMITTEE IS COMPOSED OF BOARD MEMBERS WHO ARE INDEPENDENT OF FIRSTHEALTH MANAGEMENT, HAVE NO PERSONAL INTEREST IN THE COMPENSATION ARRANGEMENTS, ARE NOT RELATED TO OR UNDER THE CONTROL OF ANY INDIVIDUAL WHOSE COMPENSATION ARRANGEMENT IS BEING REVIEWED, HAVE NO MATERIAL BUSINESS RELATIONSHIP WITH FIRSTHEALTH, AND ARE NOT PAID FOR THEIR SERVICES AS A BOARD MEMBER. THE COMMITTEE RETAINS AN INDEPENDENT CONSULTANT TO CONDUCT PERIODIC COMPENSATION ANALYSES TO HELP ENSURE FIRSTHEALTH'S COMPENSATION PRACTICES AND COMPENSATION LEVELS ARE REASONABLE. THIS CONSULTANT PROVIDES ONLY ADVISORY SERVICES RELATED TO COMPENSATION MATTERS TO FIRSTHEALTH. TO ATTRACT AND RETAIN THE HIGHEST CALIBER OF HEALTHCARE PROFESSIONALS NEEDED TO SUSTAIN THE QUALITY OF THE HEALTHCARE FIRSTHEALTH PROVIDES TO THE COMMUNITIES THAT IT SERVES, COMPENSATION MUST BE COMPETITIVE WITH THAT PROVIDED BY OTHER COMPETING ORGANIZATIONS IN THE AREA JOB MARKET. WHEN EXECUTIVE POSITIONS ARE FILLED, FIRSTHEALTH TYPICALLY CONDUCTS NATIONAL SEARCHES. FIRSTHEALTH BENCHMARKS AGAINST ORGANIZATIONS OF COMPARABLE SIZE AND MISSION, ACROSS THE REGION AND THE NATION. MARKET DATA IS ASSEMBLED FOR ALL ELEMENTS OF EXECUTIVE COMPENSATION (I.E. CASH COMPENSATION, BENEFITS AND PERQUISITES). COMPENSATION LEVELS REFLECT THE SCOPE OF THE CEO'S RESPONSIBILITIES, EDUCATIONAL BACKGROUND, EXPERIENCE AND INDUSTRY STANDING, AS WELL AS INDIVIDUAL AND ORGANIZATION PERFORMANCE. THE MOST RECENT REVIEW WAS PERFORMED DURING FISCAL YEAR 2024. A SIMILAR PROCESS TO THAT FOR THE CEO IS AFFECTED FOR DETERMINING THE COMPENSATION OF THE OTHER CORPORATE OFFICERS OR KEY EMPLOYEES OF FIRSTHEALTH (I.E. USE OF INDEPENDENT CONSULTANT, COMPARABLE INDUSTRY DATA, ETC.). THE COMMITTEE REVIEWS AND APPROVES THE CEO'S PERFORMANCE ASSESSMENTS AND COMPENSATION RECOMMENDATIONS FOR OTHER CORPORATE OFFICER AND KEY EMPLOYEES. ALL COMPENSATION DECISIONS ARE MADE IN A MANNER THAT IS CONSISTENT WITH FIRSTHEALTH'S BOARD-APPROVED COMPENSATION PHILOSOPHY. THE MOST RECENT YEAR REVIEW WAS PERFORMED DURING FISCAL YEAR 2024.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2025
IRS schema version
2023v6.0
Source object
202532279349301008

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