Skip to content
Nonprofiteer
← CARILION CLINIC FOUNDATION

Form 990 for tax year 2023

Filed by CARILION CLINIC FOUNDATION.

Totals

Total revenue
$13,111,687
Total expenses
$3,371,088
Contributions and grants received
$5,021,094
Grants paid
$1,084,478
Program service revenue
$1,693,829
Investment income
$6,390,573
Other revenue
$6,191
Total assets, end of year
$72,379,968
Total liabilities, end of year
$207,906
Net assets or fund balances, end of year
$72,172,062
Program services expenses (Part IX)
$1,775,604
Management and general expenses
$522,643
Fundraising expenses
$1,072,841
Program service expenses (Part III)
$1,775,604

Program services were 52.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Robert Bennett

    Director/Chair

    Total calculated
    $0
    Hours/week
    1

  • Abney Boxley III

    Director

    Total calculated
    $14,773
    From this org
    $0
    From related orgs
    $14,773
    Other
    $0
    Hours/week
    0.5 + 4.5 related

  • Dawn Long

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Eddie Smith

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • George Cartledge Jr

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • J David Wine

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • James Hall Jr

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • James Hartley

    Director

    Total calculated
    $30,000
    From this org
    $0
    From related orgs
    $30,000
    Other
    $0
    Hours/week
    0.5 + 8.2 related

  • Kimberly Blair

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Nancy Howell Agee

    Director/CEO, Carilion Clinic

    Total calculated
    $3,832,497
    From this org
    $0
    From related orgs
    $3,830,705
    Other
    $1,792
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,718,407 related
    Bonus
    $0 + $353,685 related
    Other
    $0 + $1,758,613 related
    Deferred
    $0 + -$14,700 related
    Nontaxable benefits
    $0 + $16,492 related
    Filer's total
    $0 + $3,832,497 related

  • Sandra Lovinguth PhD

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Stephen Musselwhite

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • William Kingery Jr

    Director

    Total calculated
    $10,250
    From this org
    $0
    From related orgs
    $10,250
    Other
    $0
    Hours/week
    0.5 + 4.9 related

  • Donald Halliwill

    Asst. Treasurer

    Total calculated
    $1,287,159
    From this org
    $0
    From related orgs
    $1,119,248
    Other
    $167,911
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $767,976 related
    Bonus
    $0 + $117,511 related
    Other
    $0 + $233,761 related
    Deferred
    $0 + $142,915 related
    Nontaxable benefits
    $0 + $24,996 related
    Filer's total
    $0 + $1,287,159 related

  • G Robert Vaughan Jr

    Treasurer

    Total calculated
    $529,010
    From this org
    $0
    From related orgs
    $458,008
    Other
    $71,002
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $353,161 related
    Bonus
    $0 + $41,359 related
    Other
    $0 + $63,488 related
    Deferred
    $0 + $46,006 related
    Nontaxable benefits
    $0 + $24,996 related
    Filer's total
    $0 + $529,010 related

  • Julie Smith-Hamilton

    Asst. Secretary

    Total calculated
    $79,103
    From this org
    $0
    From related orgs
    $60,728
    Other
    $18,375
    Hours/week
    0.5 + 39.5 related

  • Nicholas Conte

    Secretary

    Total calculated
    $1,198,610
    From this org
    $0
    From related orgs
    $1,023,717
    Other
    $174,893
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $731,687 related
    Bonus
    $0 + $111,366 related
    Other
    $0 + $180,664 related
    Deferred
    $0 + $156,813 related
    Nontaxable benefits
    $0 + $18,080 related
    Filer's total
    $0 + $1,198,610 related

  • Ralph Alee

    Vice President

    Total calculated
    $344,016
    From this org
    $263,084
    From related orgs
    $0
    Other
    $80,932
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $237,380
    Bonus
    $23,735
    Other
    $1,969
    Deferred
    $57,015
    Nontaxable benefits
    $23,917
    Filer's total
    $344,016

  • Amy Bridge

    Director Foundation Operations

    Total calculated
    $137,905
    From this org
    $120,526
    From related orgs
    $0
    Other
    $17,379
    Hours/week
    40

  • Taylor Adkins

    Director of Philanthropy

    Total calculated
    $153,832
    From this org
    $140,209
    From related orgs
    $0
    Other
    $13,623
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $140,020
    Bonus
    $0
    Other
    $189
    Deferred
    $6,441
    Nontaxable benefits
    $7,182
    Filer's total
    $153,832

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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
The organization has a single member, Carilion Clinic, a charitable tax-exempt organization which serves as the parent company of the Carilion Clinic integrated health care delivery system. The Carilion Clinic Board of Directors Compensation Committee reviews the compensation philosophy for all executive leaders in the health system, including the Foundation Vice President, the organization's top management official. An independent, outside compensation consultant specializing in healthcare organizations conducted a detailed analysis of total compensation and each element thereof, including base salary, bonus, 'at-risk other cash compensation, and benefits, including deferred and retirement benefits. Compensation was compared to both a national and regional peer group of organizations similar in size and structure to the organization, which list was reviewed by the Compensation Committee. The study's data and findings were shared with the health system's EVP/CLO.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
Mr. Conte, Mr. Halliwill, and Mr. Vaughan participate in a Defined Contribution Supplemental Executive Retirement Plan (DC SERP). Contributions to the plan are at the discretion of Carilion Clinic's Compensation Committee. Amounts vest and become non-forfeitable and payable upon the first of the following (1) attainment of scheduled vesting date (2) attainment of age and years of service requirements (3) disability or death while an eligible employee or (4) entitlement to severance benefits from an involuntary termination without reasonable cause or resignation with good reason. Unvested contributions made to the DC SERP in the reporting period are included in Part II, Column C of this schedule with "retirement and other deferred compensation," while vested contributions paid out during the year are included in Part II, Column B(iii). The following distributions were made to these individuals under this plan in the reporting year. Deferred in prior year and paid out in current year: $172,601 - Nicholas Conte $227,735 - Donald Halliwill $57,282 - G. Robert Vaughan, Jr. Ms. Agee participates in an Executive Flexible Benefit Plan, under which she receives an allowance which can be used to obtain certain benefits, with the excess deferred until the applicable vesting date. Amounts received under this plan now vest immediately and thus are no longer deferred. $245,365 was distributed under this plan in the reporting year. In the current year Ms. Agee also received $1,500,000 per a retention agreement that had been previously reported in Part II Col. C.
Schedule J, Part I, Line 7 Non-fixed payments
The organization pays annual 'at risk' compensation to certain members of management based on performance of applicable scorecard metrics. While the scorecard contains a formula as a basis for determining overall performance, in certain cases, senior managers have discretion to include additional elements in their assessment of managers reporting to them. In addition, for top management, the actual non fixed payment awarded is determined in the discretion of the Carilion Clinic Board of Directors and its compensation committee.

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.

Disregarded entities

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

  • HARWICK REAL ESTATE LLC

    REAL ESTATE · VA · income $510,600 · assets $693,255

    Directly controlled by Carilion Clinic Foundation

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2025
IRS schema version
2023v6.0
Source object
202542279349303189

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.