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Nonprofiteer
← ROWAN REGIONAL MEDICAL CENTER FOUNDATION INC

Form 990 for tax year 2023

Filed by ROWAN REGIONAL MEDICAL CENTER FOUNDATION INC.

Totals

Total revenue
$4,767,135
Total expenses
$3,616,931
Contributions and grants received
$3,688,220
Grants paid
$3,152,217
Program service revenue
$0
Investment income
$1,115,514
Other revenue
-$36,599
Total assets, end of year
$55,243,803
Total liabilities, end of year
$363,735
Net assets or fund balances, end of year
$54,880,068
Program services expenses (Part IX)
$3,215,874
Management and general expenses
$285,073
Fundraising expenses
$115,984
Program service expenses (Part III)
$3,215,874

Program services were 88.9% 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

    $142,783

  • 1d · Related organizations

    $1,650,714

  • 1f · All other contributions, gifts and grants

    $1,894,723

  • 1g · Noncash contributions included above

    $2,134

  • 3 · Investment income

    total $641,514 · excluded $641,514

  • 7a · Gross sales of assets other than inventory

    securities $21,597,607

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

    securities $21,123,607

  • 7c · Gain or loss

    securities $474,000

  • 7d · Net gain or loss

    total $474,000 · excluded $474,000

  • 8a · Fundraising events: gross income

    $20,120

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

    $142,783

  • 8b · Fundraising events: direct expenses

    $56,719

  • 8c · Net income from fundraising events

    total -$36,599 · excluded -$36,599

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,000,669 · program services $3,000,669

  • 2 · Grants to domestic individuals

    total $151,548 · program services $151,548

  • 5 · Compensation of officers, directors and key employees

    total $173,593 · management and general $173,593

  • 7 · Other salaries and wages

    total $120,844 · program services $16,919 · management and general $38,671 · fundraising $65,254

  • 8 · Pension plan contributions

    total $5,642 · program services $790 · management and general $1,805 · fundraising $3,047

  • 9 · Other employee benefits

    total $19,719 · program services $2,762 · management and general $6,310 · fundraising $10,647

  • 10 · Payroll taxes

    total $23,138 · program services $3,239 · management and general $7,404 · fundraising $12,495

  • 11f · Fees: investment management

    total $32,651 · management and general $32,651

  • 11g · Fees: other

    total $4,597 · program services $643 · management and general $1,471 · fundraising $2,483

  • 12 · Advertising and promotion

    total $26,762 · program services $13,381 · fundraising $13,381

  • 13 · Office expenses

    total $11,783 · program services $1,251 · management and general $6,985 · fundraising $3,547

  • 14 · Information technology

    total $2,201 · program services $308 · management and general $704 · fundraising $1,189

  • 16 · Occupancy

    total $1,367 · management and general $1,367

  • 17 · Travel

    total $2,616 · program services $366 · management and general $837 · fundraising $1,413

  • 20 · Interest

    total $13,639 · program services $13,639

  • 23 · Insurance

    total $1,114 · management and general $1,114

  • 24a · Other expenses: MISCELLANEOUS

    total $17,839 · program services $8,153 · management and general $9,686

  • 24b · Other expenses: OTHER SUPPLIES

    total $6,701 · program services $2,087 · management and general $2,331 · fundraising $2,283

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $333 · program services $46 · management and general $106 · fundraising $181

  • 24d · Other expenses: MEDICAL SUPPLIES

    total $113 · program services $11 · management and general $38 · fundraising $64

  • 24e · All other expenses

    total $62 · program services $62

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,236,606 · end of year $3,425,181

  • 3 · Pledges and grants receivable

    beginning of year $1,920,069 · end of year $2,153,434

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

    $26,000

  • 10c · Land, buildings and equipment, net

    beginning of year $26,000 · end of year $26,000

  • 11 · Investments: publicly traded securities

    beginning of year $40,988,272 · end of year $38,922,993

  • 12 · Investments: other securities

    beginning of year $4,604,158 · end of year $10,716,195

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,045 · end of year $18,688

  • 25 · Other liabilities

    beginning of year $436,256 · end of year $345,047

  • 27 · Net assets without donor restrictions

    beginning of year $45,475,859 · end of year $49,009,732

  • 28 · Net assets with donor restrictions

    beginning of year $4,837,945 · end of year $5,870,336

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 ROWAN MEDICAL CENTER, A NON-PROFIT HOSPITAL LOCATED IN SALISBURY, NC.

    Expenses $3,215,874 · Grants $3,152,217

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

Listed in Part VII

  • AERIK WILLIAMS MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • ALAN KING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • ALISHA BYRD-CLARK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • AMY WILSON MD

    SECR

    Total calculated
    $0
    Hours/week
    0.2

  • APRILIA KUHN

    TRUSTEE (TO 5/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • ATLEE JOHNSON III MD

    TRUSTEE (FR 1/1/23)/UROLOGIST

    Total calculated
    $510,916
    From this org
    $0
    From related orgs
    $467,758
    Other
    $43,158
    Hours/week
    0.2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $234,370 related
    Bonus
    $0 + $181,086 related
    Other
    $0 + $52,302 related
    Deferred
    $0 + $16,828 related
    Nontaxable benefits
    $0 + $26,330 related
    Filer's total
    $0 + $510,916 related

  • BRIAN CANAVAN

    EXEC DIRECTOR (TO 9/22/23)

    Total calculated
    $173,593
    From this org
    $155,376
    From related orgs
    $0
    Other
    $18,217
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $132,303
    Bonus
    $22,896
    Other
    $177
    Deferred
    $8,078
    Nontaxable benefits
    $10,139
    Filer's total
    $173,593

  • BRYAN OVERCASH

    CHAIR

    Total calculated
    $250
    From this org
    $0
    From related orgs
    $250
    Other
    $0
    Hours/week
    0.2

  • CORY MENEES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • ERIC MALLICO MD

    TRUSTEE/GENERAL SURGEON

    Total calculated
    $1,243,656
    From this org
    $0
    From related orgs
    $1,189,430
    Other
    $54,226
    Hours/week
    0.2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $617,628 related
    Bonus
    $0 + $524,577 related
    Other
    $0 + $47,225 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $34,426 related
    Filer's total
    $0 + $1,243,656 related

  • JAMES MITCHELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • JOYCE GOODWIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • KAY WILSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • MELISSA ALCORN

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • MICHAEL ARON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • SAMANTHA HASPEL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • STARLING JOHNSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • STEPHEN BULLOCK

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.2

  • WILLIAM GRAHAM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • WILLIAM STATON

    TREAS

    Total calculated
    $0
    Hours/week
    0.2

  • AMY MAHER

    EXEC DIRECTOR (FR 9/22/23)

    Total calculated
    $235,634
    From this org
    $0
    From related orgs
    $200,916
    Other
    $34,718
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $174,998 related
    Bonus
    $0 + $25,513 related
    Other
    $0 + $405 related
    Deferred
    $0 + $7,327 related
    Nontaxable benefits
    $0 + $27,391 related
    Filer's total
    $0 + $235,634 related

  • 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

  • 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

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Discretionary spending account
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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 1A
PART I, LINE 1A: FRINGE OR EXPENSE EXPLANATION FIRST-CLASS OR CHARTER TRAVEL: FIRST-CLASS OR CHARTER TRAVEL IS NOT A COVERED TRAVEL EXPENSE FOR EXECUTIVES; THEY ARE LIMITED TO BUSINESS OR COACH CLASS FARES FOR COMMERCIAL FLIGHTS. HOWEVER, CHARTER TRAVEL IS AVAILABLE TO CERTAIN EXECUTIVES, BOARD MEMBERS, AND APPROVED BUSINESS PERSONNEL MEETING APPLICABLE POLICY CRITERIA. TRAVEL FOR COMPANIONS: COMPANIONS ARE ALLOWED ON CERTAIN CHARTER FLIGHTS PAID FOR BY THE ORGANIZATION. IN THAT CASE, THE VALUE OF THE COMPANION'S FLIGHT IS CALCULATED UNDER APPLICABLE TAX LAWS AND THAT AMOUNT IS INCLUDED IN THE EXECUTIVE'S TAXABLE INCOME AS PRESCRIBED BY THE APPLICABLE TAX LAWS. DISCRETIONARY SPENDING ACCOUNT: CERTAIN EXECUTIVES RECEIVE A DISCRETIONARY SPENDING ACCOUNT. THE DOLLAR AMOUNT IN THE ACCOUNT IS PRE-APPROVED BY THE COMPENSATION AND LEADERSHIP COMMITTEE OF THE NOVANT HEALTH BOARD OF TRUSTEES. THE EXECUTIVE MAY DEFER THE AMOUNT TO A RETIREMENT ACCOUNT OR THE AMOUNT IS TREATED AS COMPENSATION AND IS SPREAD OUT OVER THE COURSE OF THE YEAR IN THE EXECUTIVE'S PAYCHECKS AS TAXABLE INCOME. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: WE PROVIDE TEMPORARY HOUSING ALLOWANCES IN CERTAIN EXECUTIVE RECRUITMENT AND RELOCATION PACKAGES. THE VALUE IS CALCULATED UNDER APPLICABLE TAX LAWS AND THAT AMOUNT IS INCLUDED IN THE EXECUTIVE'S INCOME AS PRESCRIBED BY THE APPLICABLE TAX LAWS.
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 4A-C: 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
202433199349308468

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