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Nonprofiteer
← FIRST HEALTH OF THE CAROLINAS INC

Form 990 for tax year 2024

Filed by FIRST HEALTH OF THE CAROLINAS INC.

Totals

Total revenue
$1,179,213,070
Total expenses
$1,081,645,382
Contributions and grants received
$12,842,568
Grants paid
$2,367,715
Program service revenue
$1,099,982,867
Investment income
$58,100,789
Other revenue
$8,286,846
Total assets, end of year
$1,803,305,904
Total liabilities, end of year
$376,747,430
Net assets or fund balances, end of year
$1,426,558,474
Program services expenses (Part IX)
$891,583,522
Management and general expenses
$190,061,860
Fundraising expenses
$0
Program service expenses (Part III)
$891,583,522

Program services were 82.4% 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.

  • 1d · Related organizations

    $10,790,692

  • 1e · Government grants (contributions)

    $1,009,311

  • 1f · All other contributions, gifts and grants

    $1,042,565

  • 2a · Program service revenue: NET PATIENT SERVICE REVENUE

    total $1,018,673,306 · related or exempt $1,018,673,306

  • 2b · Program service revenue: PHARMACY INCOME

    total $54,871,615 · related or exempt $54,871,615

  • 2c · Program service revenue: OTHER OPERATING REVENUE

    total $10,385,930 · related or exempt $9,408,033 · unrelated business $977,897

  • 2d · Program service revenue: EMS REVENUE

    total $8,686,709 · related or exempt $8,686,709

  • 2e · Program service revenue: HEALTH AND FITNESS

    total $7,365,307 · related or exempt $6,862,771 · unrelated business $502,536

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $27,397,529 · excluded $27,397,529

  • 6a · Gross rents

    real property $2,005,616

  • 6b · Less rental expenses

    real property $3,092,230

  • 6c · Rental income or loss

    real property -$1,086,614 · personal property $0

  • 6d · Net rental income or loss

    total -$1,086,614 · unrelated business -$126,829 · excluded -$959,785

  • 7a · Gross sales of assets other than inventory

    securities $39,881,580

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

    other assets $9,178,320

  • 7c · Gain or loss

    securities $39,881,580 · other assets -$9,178,320

  • 7d · Net gain or loss

    total $30,703,260 · excluded $30,703,260

  • 10a · Gross sales of inventory

    $780,596

  • 10b · Cost of goods sold

    $681,481

  • 10c · Net income from sales of inventory

    total $99,115 · related or exempt $99,115

  • 11a · Other revenue: FOOD SERVICE

    total $4,045,261 · excluded $4,045,261

  • 11b · Other revenue: LAUNDRY

    total $3,077,021 · excluded $3,077,021

  • 11c · Other revenue: DISCOUNTS AND REBATES

    total $2,152,063 · excluded $2,152,063

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $9,274,345

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,367,715 · program services $2,367,715

  • 5 · Compensation of officers, directors and key employees

    total $10,182,975 · management and general $10,182,975

  • 6 · Compensation of disqualified persons

    total $284,188 · program services $284,188

  • 7 · Other salaries and wages

    total $406,601,654 · program services $326,281,083 · management and general $80,320,571

  • 8 · Pension plan contributions

    total $25,806,445 · program services $20,184,616 · management and general $5,621,829

  • 9 · Other employee benefits

    total $54,763,987 · program services $42,833,875 · management and general $11,930,112

  • 10 · Payroll taxes

    total $30,302,199 · program services $23,700,988 · management and general $6,601,211

  • 11a · Fees: management

    total $4,162,447 · program services $1,687,142 · management and general $2,475,305

  • 11b · Fees: legal

    total $767,959 · management and general $767,959

  • 11c · Fees: accounting

    total $274,225 · management and general $274,225

  • 11f · Fees: investment management

    total $252,491 · management and general $252,491

  • 11g · Fees: other

    total $183,325,707 · program services $146,915,947 · management and general $36,409,760 · fundraising $0

  • 12 · Advertising and promotion

    total $938,811 · program services $86,010 · management and general $852,801

  • 13 · Office expenses

    total $30,936,168 · program services $17,203,643 · management and general $13,732,525

  • 14 · Information technology

    total $90,035 · program services $90,035

  • 16 · Occupancy

    total $15,787,506 · program services $6,273,597 · management and general $9,513,909

  • 17 · Travel

    total $1,902,893 · program services $1,385,249 · management and general $517,644

  • 19 · Conferences, conventions and meetings

    total $327,454 · program services $204,645 · management and general $122,809

  • 20 · Interest

    total $2,136,644 · program services $2,136,644

  • 22 · Depreciation, depletion and amortization

    total $47,497,615 · program services $47,497,615

  • 23 · Insurance

    total $5,426,111 · program services $717,868 · management and general $4,708,243

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $250,884,680 · program services $250,884,680

  • 24b · Other expenses: DIETARY EXP

    total $6,458,240 · program services $723,304 · management and general $5,734,936

  • 24c · Other expenses: MISCELLANEOUS

    total $167,233 · program services $124,678 · management and general $42,555

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,265,112 · end of year $53,856,640

  • 4 · Accounts receivable

    beginning of year $132,732,584 · end of year $140,321,006

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,084,210 · end of year $2,171,477

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $17,550,304 · end of year $20,173,574

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,218,688 · end of year $19,663,206

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

    $1,317,179,750

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

    $813,386,627

  • 10c · Land, buildings and equipment, net

    beginning of year $495,267,544 · end of year $503,793,123

  • 11 · Investments: publicly traded securities

    beginning of year $890,716,342 · end of year $953,480,840

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $99,000 · end of year $99,000

  • 14 · Intangible assets

    beginning of year $20,266,299 · end of year $19,808,999

  • 15 · Other assets

    beginning of year $97,124,820 · end of year $89,938,039

  • 17 · Accounts payable and accrued expenses

    beginning of year $106,703,909 · end of year $124,116,302

  • 19 · Deferred revenue

    beginning of year $542,333 · end of year $793,845

  • 20 · Tax-exempt bond liabilities

    beginning of year $155,220,000 · end of year $153,570,000

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $76,305,000 · end of year $68,950,000

  • 25 · Other liabilities

    beginning of year $35,159,927 · end of year $29,317,283

  • 27 · Net assets without donor restrictions

    beginning of year $1,313,691,447 · end of year $1,423,414,171

  • 28 · Net assets with donor restrictions

    beginning of year $2,702,287 · end of year $3,144,303

Mission and programs · 2024

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

TO SERVICE THE COMMUNITY'S TOTAL HEALTH CARE NEEDS.

  • SEE SCHEDULE O.

    Expenses $891,583,522 · Grants $2,367,715 · Revenue $1,098,601,549

As filed on the 2024 return.

Listed in Part VII

  • Arthur Medeiros

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Cindy Goodman

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • David Wood

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Gary Voncannon

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Mickey Foster

    PRESIDENT & CEO

    Total calculated
    $1,817,818
    From this org
    $1,614,815
    From related orgs
    $0
    Other
    $203,003
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $1,055,721
    Bonus
    $514,864
    Other
    $44,230
    Deferred
    $176,463
    Nontaxable benefits
    $26,540
    Filer's total
    $1,817,818

  • Ray Allen

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Alexander Sandy Stewart MD

    MEMBER (AS OF 1/1/2025)

    Total calculated
    $0
    Hours/week
    1

  • Ben Jones

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brian McMurray

    MEMBER ( THRU 12/31/2024)

    Total calculated
    $0
    Hours/week
    1

  • Charles Kuzma

    MEMBER (AS OF 1/1/2025)

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Webster

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James Obi

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jason Jerry MD

    MEMBER ( THRU 12/31/2024)

    Total calculated
    $0
    Hours/week
    1

  • Jefferson Kilpatrick MD

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Matthew Harmody MD

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Susan Keller

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sushma Patel

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Pashley

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Wayne Lucas MD

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Casey

    CHIEF FINANCIAL OFFICER

    Total calculated
    $825,920
    From this org
    $737,722
    From related orgs
    $0
    Other
    $88,198
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $478,387
    Bonus
    $208,152
    Other
    $51,183
    Deferred
    $63,308
    Nontaxable benefits
    $24,890
    Filer's total
    $825,920

  • Amy Graham

    CHIEF STRATEGY/INNOVATION OFFICER

    Total calculated
    $612,198
    From this org
    $532,852
    From related orgs
    $0
    Other
    $79,346
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $327,371
    Bonus
    $152,273
    Other
    $53,208
    Deferred
    $52,892
    Nontaxable benefits
    $26,454
    Filer's total
    $612,198

  • Berni Szczepanski

    CHIEF PEOPLE OFFICER

    Total calculated
    $592,802
    From this org
    $527,794
    From related orgs
    $0
    Other
    $65,008
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $341,944
    Bonus
    $149,649
    Other
    $36,201
    Deferred
    $52,403
    Nontaxable benefits
    $12,605
    Filer's total
    $592,802

  • Chris Beasley

    CHIEF INFORMATION OFFICER

    Total calculated
    $579,654
    From this org
    $501,868
    From related orgs
    $0
    Other
    $77,786
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $316,370
    Bonus
    $145,228
    Other
    $40,270
    Deferred
    $51,576
    Nontaxable benefits
    $26,210
    Filer's total
    $579,654

  • Christopher Fraley

    VP, FINANCE

    Total calculated
    $495,199
    From this org
    $428,717
    From related orgs
    $0
    Other
    $66,482
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $263,778
    Bonus
    $122,057
    Other
    $42,882
    Deferred
    $47,202
    Nontaxable benefits
    $19,280
    Filer's total
    $495,199

  • Christy Land

    PRESIDENT, SOUTHERN REGION

    Total calculated
    $421,477
    From this org
    $375,999
    From related orgs
    $0
    Other
    $45,478
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $239,931
    Bonus
    $105,947
    Other
    $30,121
    Deferred
    $43,786
    Nontaxable benefits
    $1,692
    Filer's total
    $421,477

  • Cynthia McNeill-McDonald

    CHIEF QUALITY OFFICER

    Total calculated
    $486,279
    From this org
    $427,654
    From related orgs
    $0
    Other
    $58,625
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $253,254
    Bonus
    $128,976
    Other
    $45,424
    Deferred
    $45,864
    Nontaxable benefits
    $12,761
    Filer's total
    $486,279

  • Daniel Barnes Do

    PRESIDENT, FHPG

    Total calculated
    $916,554
    From this org
    $822,184
    From related orgs
    $0
    Other
    $94,370
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $535,707
    Bonus
    $233,074
    Other
    $53,403
    Deferred
    $67,851
    Nontaxable benefits
    $26,519
    Filer's total
    $916,554

  • Jacklynn Lesniak

    VP, MRH PATIENT CARE SVCS.

    Total calculated
    $588,700
    From this org
    $577,782
    From related orgs
    $0
    Other
    $10,918
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $285,760
    Bonus
    $191,603
    Other
    $100,419
    Deferred
    $0
    Nontaxable benefits
    $10,918
    Filer's total
    $588,700

  • Jenifir Bruno

    CHIEF MEDICAL OFFICER

    Total calculated
    $780,464
    From this org
    $693,649
    From related orgs
    $0
    Other
    $86,815
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $450,577
    Bonus
    $197,332
    Other
    $45,740
    Deferred
    $60,421
    Nontaxable benefits
    $26,394
    Filer's total
    $780,464

  • Jonathan Davis

    CHIEF OPERATING OFFICER

    Total calculated
    $945,059
    From this org
    $848,589
    From related orgs
    $0
    Other
    $96,470
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $563,958
    Bonus
    $243,700
    Other
    $40,931
    Deferred
    $69,930
    Nontaxable benefits
    $26,540
    Filer's total
    $945,059

  • Matthew Prestwood

    PRESIDENT, EASTERN REGION

    Total calculated
    $404,155
    From this org
    $339,971
    From related orgs
    $0
    Other
    $64,184
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $206,270
    Bonus
    $99,780
    Other
    $33,921
    Deferred
    $45,150
    Nontaxable benefits
    $19,034
    Filer's total
    $404,155

  • Rebecca Carter

    PRESIDENT - WESTERN REGION

    Total calculated
    $273,494
    From this org
    $262,576
    From related orgs
    $0
    Other
    $10,918
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,436
    Bonus
    $12,602
    Other
    $36,538
    Deferred
    $0
    Nontaxable benefits
    $10,918
    Filer's total
    $273,494

  • Susan Beaty

    CHIEF NURSING OFFICER

    Total calculated
    $443,201
    From this org
    $381,674
    From related orgs
    $0
    Other
    $61,527
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $234,971
    Bonus
    $107,305
    Other
    $39,398
    Deferred
    $49,175
    Nontaxable benefits
    $12,352
    Filer's total
    $443,201

  • Giridhar Chintalapudi MD

    PHYSICIAN

    Total calculated
    $1,031,233
    From this org
    $996,195
    From related orgs
    $0
    Other
    $35,038
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $469,628
    Bonus
    $486,929
    Other
    $39,638
    Deferred
    $24,500
    Nontaxable benefits
    $10,538
    Filer's total
    $1,031,233

  • Mark Landers MD

    PHYSICIAN

    Total calculated
    $1,293,333
    From this org
    $1,242,293
    From related orgs
    $0
    Other
    $51,040
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $777,215
    Bonus
    $421,210
    Other
    $43,868
    Deferred
    $24,500
    Nontaxable benefits
    $26,540
    Filer's total
    $1,293,333

  • Peter Ellman MD

    PHYSICIAN

    Total calculated
    $916,355
    From this org
    $865,315
    From related orgs
    $0
    Other
    $51,040
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $756,847
    Bonus
    $67,705
    Other
    $40,763
    Deferred
    $24,500
    Nontaxable benefits
    $26,540
    Filer's total
    $916,355

  • William Harris MD

    PHYSICIAN

    Total calculated
    $949,370
    From this org
    $905,178
    From related orgs
    $0
    Other
    $44,192
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $748,846
    Bonus
    $127,041
    Other
    $29,291
    Deferred
    $24,500
    Nontaxable benefits
    $19,692
    Filer's total
    $949,370

  • William Kitchens MD

    PHYSICIAN

    Total calculated
    $878,675
    From this org
    $827,535
    From related orgs
    $0
    Other
    $51,140
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $709,589
    Bonus
    $75,750
    Other
    $42,196
    Deferred
    $24,500
    Nontaxable benefits
    $26,640
    Filer's total
    $878,675

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 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
THE FOLLOWING INDIVIDUAL PARTICIPATED IN CAP-EX (A SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT IN PLACE OF A TRADITIONAL SERP). DURING 2024 THE FOLLOWING RECEIVED AMOUNTS PAID UNDER THE TERMS OF THE SERP: -MICKEY FOSTER: $141,178
SCHEDULE J, PART I, LINE 4C EQUITY-BASED COMPENSATION ARRANGEMENT
JACKLYNN LESNIAK, FORMER VP - MRH PATIENT CARE SERVICES, RECEIVED A SEVERANCE PAYMENT OF $58,355
SCHEDULE J, PART I, LINE 5A COMPENSATION CONTINGENT ON REVENUES OF THE ORGANIZATION
PHYSICIANS ARE PAID UNDER A PRODUCTIVITY-BASED COMPENSATION MODEL, WHICH TIES TOTAL COMPENSATION TO A RELATIVE VALUE UNIT (RVU). AN RVU IS A DOLLAR AMOUNT ASSIGNED TO EACH PATIENT ENCOUNTER OR MEDICAL TEST/PROCEDURE PERFORMED.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FIRSTHEALTH PHYSICIANS GROUP LLC

    MEDICAL SERVICES · NC · income -$50,923,000 · assets $35,618,000

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

  • STARFIRST LLC

    CAPTIVE INSURANCE · SC · income $1,028,000 · assets $24,460,000

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FIRSTIMAGING OF THE CAROLINAS LLC

    RELATED · MEDICAL SERVICES · NC · 50% owned · share of income -$602,292 · share of assets $2,804,373

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

  • SURGERY CENTER OF PINEHURST LLC

    RELATED · MEDICAL SERVICES · NC · 25% owned · share of income $1,150,219 · share of assets $20,159,266 · general or managing partner

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

  • FIRSTCAROLINACARE INSURANCE SERVICES LLC

    RELATED · INSURANCE SERVICES · NC · 51% owned · share of income $0 · share of assets -$8,788

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

  • SURGERY CENTER OF PINEHURST PROPERTIES LLC

    RELATED · REAL ESTATE · NC · 35% owned · share of income -$100,750 · share of assets $2,569,233

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

  • CARDIOVASCULAR CENTER OF SCOTLAND COUNTY LLC

    RELATED · MEDICAL SERVICES · NC · 50% owned · share of income $234,972 · share of assets $2,512,369

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

  • SOUTHERN PINES SURGERY CENTER PROPERTIES LLC

    RELATED · REAL ESTATE · NC · 25% owned · share of income $0 · share of assets $0

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FIRSTHEALTH PROFESSIONAL SERVICES INC

    C CORPORATION · HEALTHCARE SERVICES · NC · 100% owned · share of income -$2,000 · share of assets -$20,000 · controlled entity

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

  • FIRSTCAROLINACARE INSURANCE COMPANY INC

    C CORPORATION · INSURANCE COMPANY · NC · 20% owned · share of income $547,052 · share of assets -$1,769,515 · controlled entity

    Directly controlled by FIRSTHEALTH OF THE CAROLINAS INC

Provenance

Return type
form_990
Tax year
2024
Filed
14 August 2026
IRS schema version
2024v5.1
Source object
202612269349302806

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