Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $60,679

• 1f · All other contributions, gifts and grants

  $177,631

• 1g · Noncash contributions included above

  $2,221

• 3 · Investment income

  total $15,497 · excluded $15,497

• 7a · Gross sales of assets other than inventory

  securities $608,320

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

  securities $594,969

• 7c · Gain or loss

  securities $13,351

• 7d · Net gain or loss

  total $13,351 · excluded $13,351

• 8a · Fundraising events: gross income

  $10,517

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

  $60,679

• 8b · Fundraising events: direct expenses

  $13,918

• 8c · Net income from fundraising events

  total -$3,401 · excluded -$3,401

• 9a · Gaming: gross income

  $3,360

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $3,360 · excluded $3,360

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $116,027 · program services $116,027

• 2 · Grants to domestic individuals

  total $20,772 · program services $20,772

• 11f · Fees: investment management

  total $920 · management and general $920

• 12 · Advertising and promotion

  total $451 · program services $226 · fundraising $225

• 13 · Office expenses

  total $3,047 · program services $37 · management and general $2,985 · fundraising $25

• 24a · Other expenses: CONTRACT LABOR

  total $18,962 · program services $4,740 · management and general $11,377 · fundraising $2,845

• 24b · Other expenses: MEDICAL SUPPLIES

  total $2,626 · program services $2,626

• 24c · Other expenses: MISCELLANEOUS

  total $2,138 · program services $985 · management and general $1,153

• 24d · Other expenses: OTHER SUPPLIES

  total $575 · program services $391 · management and general $139 · fundraising $45

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $719,764 · end of year $855,713

• 3 · Pledges and grants receivable

  beginning of year $227,591 · end of year $230,033

• 11 · Investments: publicly traded securities

  beginning of year $1,154,479 · end of year $1,096,308

• 12 · Investments: other securities

  beginning of year $129,680 · end of year $301,833

• 15 · Other assets

  beginning of year $7,330 · end of year $0

• 25 · Other liabilities

  beginning of year $0 · end of year $39,765

• 27 · Net assets without donor restrictions

  beginning of year $826,851 · end of year $899,370

• 28 · Net assets with donor restrictions

  beginning of year $1,411,993 · end of year $1,544,752

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.

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 · REAL PROPERTY MGMT · NC

• MEDQUEST INC & SUBSIDIARIES

  C · DIAGNOSTIC IMAGING · DE

• SALEM DIAGNOSTICS INC

  C · INACTIVE · NC

• SALEM HEALTH SERVICES INC

  C · INACTIVE · NC

• THE PARK AT MONROE PROPERTY OWNERS ASSOCIATION INC

  C · REAL PROPERTY MGMT · NC

• NOVANT HEALTH AFFILIATE II INC

  C · INACTIVE · NC