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Nonprofiteer
← BRUNSWICK NOVANT MEDICAL CENTER FOUNDATION

Form 990 for tax year 2023

Filed by BRUNSWICK NOVANT MEDICAL CENTER FOUNDATION.

Totals

Total revenue
$139,045
Total expenses
$297,288
Contributions and grants received
$124,408
Grants paid
$177,347
Program service revenue
$0
Investment income
$14,637
Other revenue
$0
Total assets, end of year
$11,387,558
Total liabilities, end of year
$13,985
Net assets or fund balances, end of year
$11,373,573
Program services expenses (Part IX)
$178,743
Management and general expenses
$83,299
Fundraising expenses
$35,246
Program service expenses (Part III)
$178,743

Program services were 60.1% 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.

  • 1f · All other contributions, gifts and grants

    $124,408

  • 3 · Investment income

    total $7,863 · excluded $7,863

  • 7a · Gross sales of assets other than inventory

    securities $308,659

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

    securities $301,885

  • 7c · Gain or loss

    securities $6,774

  • 7d · Net gain or loss

    total $6,774 · excluded $6,774

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $121,294 · program services $121,294

  • 2 · Grants to domestic individuals

    total $56,053 · program services $56,053

  • 11f · Fees: investment management

    total $466 · management and general $466

  • 13 · Office expenses

    total $699 · program services $60 · management and general $639

  • 24a · Other expenses: CONTRACT LABOR

    total $117,372 · management and general $82,160 · fundraising $35,212

  • 24b · Other expenses: MEDICAL SUPPLIES

    total $766 · program services $766

  • 24c · Other expenses: OTHER SUPPLIES

    total $638 · program services $570 · management and general $34 · fundraising $34

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,854,905 · end of year $7,538,071

  • 3 · Pledges and grants receivable

    beginning of year $5,160,897 · end of year $3,140,076

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

    $6,346

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

    $6,346

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $585,773 · end of year $556,262

  • 12 · Investments: other securities

    beginning of year $65,805 · end of year $153,149

  • 25 · Other liabilities

    beginning of year $276,613 · end of year $13,985

  • 27 · Net assets without donor restrictions

    beginning of year $586,904 · end of year $629,899

  • 28 · Net assets with donor restrictions

    beginning of year $10,803,863 · end of year $10,743,674

Mission and programs · 2023

Mission

SEE SCHEDULE O

  • THE ORGANIZATION OPERATES TO RAISE COMMUNITY SUPPORT AND FUNDING THROUGH CHARITABLE GIVING FOR ESSENTIAL PROGRAMS, IMPROVED FACILITIES, AND STATE-OF-THE-ART TECHNOLOGY OF NOVANT HEALTH BRUNSWICK MEDICAL CENTER, A NON-PROFIT HOSPITAL LOCATED IN BOLIVIA, NC.

    Expenses $178,743 · Grants $177,347

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JASON YOUNTS

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • JOHN CAIN

    TRUSTEE (FR 2/1/23 TO 12/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • JOHN CAUSEY

    TRUSTEE, VICE CHAIR (FR 11/8/23)

    Total calculated
    $0
    Hours/week
    0.2

  • KIMMIE DURHAM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • KRISTIN TAIT

    VC/TRS(TO 11/8/23),CH(FR 11/8/23)/PM

    Total calculated
    $144,515
    From this org
    $0
    From related orgs
    $102,410
    Other
    $42,105
    Hours/week
    0.2 + 45 related

  • LANNIN BRADDOCK

    TRUSTEE, CHAIR (TO 11/8/23)

    Total calculated
    $0
    Hours/week
    0.2

  • MONIKA HEWETT

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • SAUNDRA FANTI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • SHARONDA DAVIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • STEVEN MOORE

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • SUSAN GIBBLE

    SECR

    Total calculated
    $0
    Hours/week
    0.2

  • THAD LEWIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • TIMOTHY DANIELS

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • WALTER BRYANT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • DOROTHY ANN CAULKINS

    SVP FDN

    Total calculated
    $836,987
    From this org
    $0
    From related orgs
    $725,233
    Other
    $111,754
    Hours/week
    8 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $362,587 related
    Bonus
    $0 + $272,742 related
    Other
    $0 + $89,904 related
    Deferred
    $0 + $78,889 related
    Nontaxable benefits
    $0 + $32,865 related
    Filer's total
    $0 + $836,987 related

  • FRED HARGETT

    EVP/CFO (TO 9/6/23)

    Total calculated
    $2,451,375
    From this org
    $0
    From related orgs
    $2,400,670
    Other
    $50,705
    Hours/week
    0.2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $886,648 related
    Bonus
    $0 + $1,074,292 related
    Other
    $0 + $439,730 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $30,905 related
    Filer's total
    $0 + $2,451,375 related

  • GEOFFREY GARDNER

    CFO (FR 9/6/23)

    Total calculated
    $1,037,855
    From this org
    $0
    From related orgs
    $909,106
    Other
    $128,749
    Hours/week
    0.2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $496,309 related
    Bonus
    $0 + $343,441 related
    Other
    $0 + $69,356 related
    Deferred
    $0 + $98,858 related
    Nontaxable benefits
    $0 + $29,891 related
    Filer's total
    $0 + $1,037,855 related

  • MARGARET WASSUM

    EXEC DIRECTOR

    Total calculated
    $106,003
    From this org
    $0
    From related orgs
    $91,687
    Other
    $14,316
    Hours/week
    50

  • KIMBERLY HENDERSON

    FMR OFFICER (12/31/19)

    Total calculated
    $1,241,092
    From this org
    $0
    From related orgs
    $1,085,117
    Other
    $155,975
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $620,747 related
    Bonus
    $0 + $346,188 related
    Other
    $0 + $118,182 related
    Deferred
    $0 + $125,670 related
    Nontaxable benefits
    $0 + $30,305 related
    Filer's total
    $0 + $1,241,092 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)

PART I, LINE 3
PART I, LINE 3: THE FILING ORGANIZATION IS AN INTEGRAL PART OF NOVANT HEALTH, AN INTEGRATED HEALTHCARE SYSTEM AND RELIES UPON NOVANT HEALTH, INC., THE PARENT ORGANIZATION, TO USE THE PROCESS DESCRIBED IN PART VI, LINE 15A/15B OF THIS RETURN TO ESTABLISH COMPENSATION FOR CERTAIN EXECUTIVES. THIS PROCESS ADHERES TO THE REQUIREMENTS SET FORTH TO SECURE THE REBUTTABLE PRESUMPTION OF REASONABLENESS AND INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT AND DISINTERESTED MEMBERS OF A COMPENSATION COMMITTEE, CONSULTATION WITH INDEPENDENT COMPENSATION CONSULTANTS, THE UTILIZATION OF THIRD-PARTY COMPARABILITY DATA SUCH AS PUBLISHED COMPENSATION SURVEYS, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION.
PART I, LINE 4B
PART I, LINE 4B: SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS SEVERANCE NONE NONQUALIFIED KIMBERLY HENDERSON $66,932 DOROTHY CAULKINS $43,170 GEOFFREY GARDNER $25,993 EQUITY-BASED NONE
PART I, LINE 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS:
THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") IS INTENDED TO SUPPORT RETENTION OF KEY EXECUTIVES, AND TO OFFER COMPETITIVE TOTAL COMPENSATION. GENERALLY, ANNUAL CONTRIBUTIONS TO THE PLAN OR PAYMENTS TO PARTICIPANTS WILL BE BASED ON A PERCENTAGE OF THE PARTICIPANT'S BASE SALARY AS OF JANUARY 1ST OF THE PREVIOUS PLAN YEAR AND ARE REPORTED IN COLUMN (C) OF SCHEDULE J. PRIOR TO MAKING THE CONTRIBUTIONS OR PAYMENTS, THE NOVANT HEALTH COMPENSATION AND LEADERSHIP COMMITTEE ("COMMITTEE") WILL APPROVE THE AMOUNTS AS TO REASONABLENESS, WHEN COMBINED WITH ALL OTHER ANNUAL COMPENSATION. A 3 YEAR CLASS-YEAR VESTING PERIOD WILL APPLY UP TO AGE 62, WHEN ALL MONEY WOULD BE VESTED AND PAID OUT TO THE PARTICIPANT. OTHERWISE, VESTING WILL OCCUR ON JANUARY 1ST OF EACH YEAR FOR THE APPROPRIATE CLASS-YEAR VESTING PERIOD. THE COMMITTEE REVIEWS, APPROVES, AND OVERSEES ALL ASPECTS AND ALL ELEMENTS OF EXECUTIVE COMPENSATION AND BENEFITS, INCLUDING THE AMOUNTS AWARDED UNDER THIS SERP.

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
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349307431

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