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Nonprofiteer
← BRUNSWICK NOVANT MEDICAL CENTER FOUNDATION

Form 990 for tax year 2022

Filed by BRUNSWICK NOVANT MEDICAL CENTER FOUNDATION.

Totals

Total revenue
$7,463,649
Total expenses
$767,048
Contributions and grants received
$7,437,061
Grants paid
$723,756
Program service revenue
$0
Investment income
$26,588
Other revenue
$0
Total assets, end of year
$11,667,380
Total liabilities, end of year
$276,613
Net assets or fund balances, end of year
$11,390,767
Program services expenses (Part IX)
$725,664
Management and general expenses
$30,143
Fundraising expenses
$11,241
Program service expenses (Part III)
$725,664

Program services were 94.6% 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

    $7,437,061

  • 1g · Noncash contributions included above

    $40,045

  • 3 · Investment income

    total $8,144 · excluded $8,144

  • 7a · Gross sales of assets other than inventory

    securities $334,766

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

    securities $316,322

  • 7c · Gain or loss

    securities $18,444

  • 7d · Net gain or loss

    total $18,444 · excluded $18,444

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $681,704 · program services $681,704

  • 2 · Grants to domestic individuals

    total $42,052 · program services $42,052

  • 11f · Fees: investment management

    total $1,152 · management and general $1,152

  • 12 · Advertising and promotion

    total $54 · program services $27 · fundraising $27

  • 13 · Office expenses

    total $976 · program services $29 · management and general $947

  • 19 · Conferences, conventions and meetings

    total $229 · program services $220 · management and general $9

  • 24a · Other expenses: CONTRACT LABOR

    total $33,169 · management and general $23,218 · fundraising $9,951

  • 24b · Other expenses: MISCELLANEOUS

    total $7,460 · program services $1,380 · management and general $4,817 · fundraising $1,263

  • 24c · Other expenses: MEDICAL SUPPLIES

    total $252 · program services $252

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,055,282 · end of year $5,854,905

  • 3 · Pledges and grants receivable

    beginning of year $7,142,908 · end of year $5,160,897

  • 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 $535,079 · end of year $585,773

  • 12 · Investments: other securities

    beginning of year $165,315 · end of year $65,805

  • 25 · Other liabilities

    beginning of year $25,797 · end of year $276,613

  • 27 · Net assets without donor restrictions

    beginning of year $630,043 · end of year $586,904

  • 28 · Net assets with donor restrictions

    beginning of year $11,242,744 · end of year $10,803,863

Mission and programs · 2022

Mission

SEE SCHEDULE O

  • CONSISTENT WITH THE ORGANIZATION'S EXEMPT PURPOSE, BRUNSWICK NOVANT MEDICAL CENTER FOUNDATION ("BNMCF") SUPPORTS NOVANT HEALTH BRUNSWICK MEDICAL CENTER, A NOT-FOR-PROFIT HOSPITAL LOCATED IN BOLIVIA, NC. AS SUCH, BNMCF FOCUSES ITS EFFORTS TO RAISE COMMUNITY SUPPORT AND FUNDING THROUGH CHARITABLE GIVING FOR MUCH-NEEDED PROGRAMS, IMPROVED FACILITIES AND STATE-OF-THE ART TECHNOLOGY FOR NOVANT HEALTH BRUNSWICK MEDICAL CENTER.

    Expenses $725,664 · Grants $723,756

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Laurie Whalin

    PRESIDENT & COO/TRUSTEE

    Total calculated
    $623,900
    From this org
    $0
    From related orgs
    $592,807
    Other
    $31,093
    Hours/week
    0.2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $418,388 related
    Bonus
    $0 + $106,725 related
    Other
    $0 + $67,694 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $12,793 related
    Filer's total
    $0 + $623,900 related

  • Kristin Tait

    TREASURER/INTEGRATION PROJECT MGR II

    Total calculated
    $123,860
    From this org
    $0
    From related orgs
    $84,620
    Other
    $39,240
    Hours/week
    0.2 + 45 related

  • Lannin Braddock

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.2

  • Sharonda Davis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • John Dowless

    TRUSTEE (UNTIL 6/1/2022)

    Total calculated
    $0
    Hours/week
    0.2

  • Kimmie Durham

    CHAIR

    Total calculated
    $0
    Hours/week
    0.2

  • Donald Evans

    TRUSTEE (UNTIL 6/1/2022)

    Total calculated
    $0
    Hours/week
    0.2

  • Saundra Fanti

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Susan Gibble

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.2

  • Thad Lewis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Walter Bryant

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • John Causey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Ruben McMullan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Fred Hargett

    EVP & CFO

    Total calculated
    $2,417,516
    From this org
    $0
    From related orgs
    $2,355,664
    Other
    $61,852
    Hours/week
    0.2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,092,939 related
    Bonus
    $0 + $843,828 related
    Other
    $0 + $418,897 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $43,552 related
    Filer's total
    $0 + $2,417,516 related

  • Dorothy Caulkins

    SVP FOUNDATIONS

    Total calculated
    $732,185
    From this org
    $0
    From related orgs
    $626,052
    Other
    $106,133
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $350,321 related
    Bonus
    $0 + $229,149 related
    Other
    $0 + $46,582 related
    Deferred
    $0 + $75,116 related
    Nontaxable benefits
    $0 + $31,017 related
    Filer's total
    $0 + $732,185 related

  • Margaret Wassum

    EXECUTIVE DIRECTOR (EFF 10/3/2022)

    Total calculated
    $19,737
    From this org
    $0
    From related orgs
    $18,952
    Other
    $785
    Hours/week
    50

  • Cynthia Cheatham

    EXECUTIVE DIRECTOR (UNTIL 1/17/22)

    Total calculated
    $12,807
    From this org
    $0
    From related orgs
    $8,620
    Other
    $4,187
    Hours/week
    50

  • Kimberly Henderson

    FMR SVP FOUNDATIONS

    Total calculated
    $1,044,836
    From this org
    $0
    From related orgs
    $911,387
    Other
    $133,449
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $493,499 related
    Bonus
    $0 + $281,252 related
    Other
    $0 + $136,636 related
    Deferred
    $0 + $105,150 related
    Nontaxable benefits
    $0 + $28,299 related
    Filer's total
    $0 + $1,044,836 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 FRED HARGETT $11,892 KIMBERLY HENDERSON $91,918 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.

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.

  • ADEPT HEALTH INC

    C · ADMIN SERVICES · NC

  • CHOICEHEALTH INC

    C · MANAGED CARE · NC

  • COMMUNICARE INC

    C · RENTAL REAL ESTATE · NC

  • KERNERSVILLE MEDICAL CENTER PARK OWNERS' ASSOCIATION

    C · RENTAL REAL ESTATE · NC

  • MEDQUEST INC & SUBSIDIARIES

    C · DIAGNOSTIC IMAGING · DE

  • SALEM DIAGNOSTICS INC

    C · HEALTH RELATED · NC

  • SALEM HEALTH SERVICES INC

    C · HEALTH RELATED · NC

  • THE PARK AT MONROE PROPERTY OWNERS ASSOCIATION INC

    C · RENTAL REAL ESTATE · NC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313189349307776

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