Form 990 for tax year 2023

Filed by REX HOSPITAL INC.

Totals

Total revenue: $1,733,107,391
Total expenses: $1,722,487,808
Contributions and grants received: $118,990
Grants paid: $2,470
Program service revenue: $1,721,078,608
Investment income: $1,943,015
Other revenue: $9,966,778
Total assets, end of year: $1,830,481,772
Total liabilities, end of year: $797,880,047
Net assets or fund balances, end of year: $1,032,601,725
Program services expenses (Part IX): $1,451,713,021
Management and general expenses: $270,774,787
Fundraising expenses: $0
Program service expenses (Part III): $1,451,713,021

Program services were 84.3% 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

$118,990
2a · Program service revenue: PATIENT SERVICE REVENUE

total $1,654,149,015 · related or exempt $1,653,697,098 · unrelated business $451,917
2b · Program service revenue: ALL OTHER PROGRAM SERVICE REVENUE

total $66,929,593 · related or exempt $61,611,778 · unrelated business $50,510 · excluded $5,267,305
3 · Investment income

total $1,422,161 · excluded $1,422,161
4 · Income from investment of tax-exempt bond proceeds

total $0
5 · Royalties

total $0
6a · Gross rents

real property $3,470,850
6b · Less rental expenses

real property $1,120,735
6c · Rental income or loss

real property $2,350,115 · personal property $0
6d · Net rental income or loss

total $2,350,115 · excluded $2,350,115
7a · Gross sales of assets other than inventory

securities $1,357,609
7b · Less cost or other basis and sales expenses

securities $836,755
7c · Gain or loss

securities $520,854
7d · Net gain or loss

total $520,854 · excluded $520,854
8a · Fundraising events: gross income

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0
11a · Other revenue: CARES ACT STIMULUS

total $7,678,066 · related or exempt $7,678,066
11b · Other revenue: GAIN ON FIXED ASSET DISPOSAL

total -$61,403 · excluded -$61,403
11e · Other revenue, total

$7,616,663

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $2,470 · program services $2,470
2 · Grants to domestic individuals

total $0
3 · Grants to foreign organizations and individuals

total $0
4 · Benefits paid to or for members

total $0
5 · Compensation of officers, directors and key employees

total $5,598,428 · management and general $5,598,428
6 · Compensation of disqualified persons

total $0
7 · Other salaries and wages

total $611,327,202 · program services $554,168,109 · management and general $57,159,093
8 · Pension plan contributions

total $29,176,647 · program services $27,738,239 · management and general $1,438,408
9 · Other employee benefits

total $56,699,881 · program services $50,338,154 · management and general $6,361,727
10 · Payroll taxes

total $39,950,833 · program services $35,156,733 · management and general $4,794,100
11a · Fees: management

total $0
11b · Fees: legal

total $556,536 · management and general $556,536
11c · Fees: accounting

total $0
11d · Fees: lobbying

total $58,537 · management and general $58,537
11e · Fees: professional fundraising services

total $0
11f · Fees: investment management

total $1,372,047 · management and general $1,372,047
11g · Fees: other

total $76,705,020 · program services $69,918,785 · management and general $6,786,235
12 · Advertising and promotion

total $190,798 · program services $173,626 · management and general $17,172
13 · Office expenses

total $9,866,749 · program services $8,978,741 · management and general $888,008
14 · Information technology

total $3,558,894 · program services $3,238,593 · management and general $320,301
15 · Royalties

total $0
16 · Occupancy

total $14,911,082 · program services $13,569,084 · management and general $1,341,998
17 · Travel

total $2,724,016 · program services $2,478,854 · management and general $245,162
18 · Travel or entertainment for public officials

total $0
19 · Conferences, conventions and meetings

total $54,759 · management and general $54,759
20 · Interest

total $17,555,213 · program services $15,975,244 · management and general $1,579,969
21 · Payments to affiliates

total $39,456,763 · program services $39,456,763
22 · Depreciation, depletion and amortization

total $78,228,900 · program services $71,188,299 · management and general $7,040,601
23 · Insurance

total $9,906,014 · program services $9,014,473 · management and general $891,541
24a · Other expenses: PATIENT CARE SUPPLIES & SERVIC

total $460,787,125 · program services $460,787,125
24b · Other expenses: HOME OFFICE ALLOCATION

total $172,535,604 · management and general $172,535,604
24c · Other expenses: BAD DEBT EXPENSE

total $71,991,387 · program services $71,991,387
24d · Other expenses: MINOR EQUIPMENT AND R&M

total $8,136,126 · program services $7,403,875 · management and general $732,251
24e · All other expenses

total $11,136,777 · program services $10,134,467 · management and general $1,002,310

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $27,803,766 · end of year $31,083,701
2 · Savings and temporary cash investments

beginning of year $0 · end of year $0
3 · Pledges and grants receivable

beginning of year $0 · end of year $0
4 · Accounts receivable

beginning of year $359,501,072 · end of year $309,743,405
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $0 · end of year $0
8 · Inventories for sale or use

beginning of year $28,416,026 · end of year $32,138,131
9 · Prepaid expenses and deferred charges

beginning of year $68,439,493 · end of year $53,804,549
10a · Land, buildings and equipment: cost or other basis

$1,286,962,187
10b · Land, buildings and equipment: accumulated depreciation

$656,452,876
10c · Land, buildings and equipment, net

beginning of year $642,681,343 · end of year $630,509,311
11 · Investments: publicly traded securities

beginning of year $615,226,860 · end of year $691,241,172
12 · Investments: other securities

beginning of year $29,922,933 · end of year $33,684,205
13 · Investments: program-related

beginning of year $0 · end of year $0
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $44,064,970 · end of year $48,277,298
17 · Accounts payable and accrued expenses

beginning of year $230,385,570 · end of year $179,048,479
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $1,073,634 · end of year $1,019,168
20 · Tax-exempt bond liabilities

beginning of year $427,299,069 · end of year $417,203,305
21 · Escrow or custodial account liability

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $0 · end of year $0
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $212,197,377 · end of year $200,609,095
27 · Net assets without donor restrictions

beginning of year $945,741,280 · end of year $944,293,478
28 · Net assets with donor restrictions

beginning of year -$640,467 · end of year $88,308,247

Mission and programs · 2023

Mission

TO IMPROVE THE HEALTH AND WELL-BEING OF NORTH CAROLINIANS AND OTHERS WHOM WE SERVE. WE ACCOMPLISH THIS BY PROVIDING LEADERSHIP AND EXCELLENCE IN THE INTERRELATED AREAS OF PATIENT CARE, EDUCATION, AND RESEARCH.

Activities or mission (Part I)

INSPIRING HOPE, IMPROVING HEALTH AND HEALING COMMUNITIES.

UNC Health Rex is widely recognized as one of the top hospitals in North Carolina and the nation. Newsweek, US News, Business North Carolina and other nationally recognized media outlets routinely include UNC Health Rex on their "top hospitals" lists. UNC Health Rex also receives top grades for hospital safety from the Leapfrog Group. UNC Health Rex was also named the top hospital in the region in WRAL Voters' Choice Awards for 2023. UNC Health Rex achieved a top five-star rating for quality of care from the Centers for Medicare and Medicaid Services (CMS). That puts UNC Health Rex among the top hospitals nationwide. UNC Health Rex is one of only a dozen hospitals in North Carolina to receive five stars from CMS. More than 10 years ago, UNC Health Rex became the first hospital in the Triangle to be awarded Magnet status by the American Nurses Credentialing Center. In 2020, UNC Health Rex was re-designated Magnet status for the fourth consecutive time. The Magnet Recognition Program recognizes health care organizations for excellence in nursing care. This award puts UNC Health Rex's nurses in an elite group of the top 2 percent of nurses in the nation. UNC Health Rex is one of the largest employers in Wake County, with more than 7,500 teammates. UNC Health Rex is known for its excellent benefits and is routinely recognized by local and national publications as a "best place to work." In late 2021, UNC Health Rex opened a new, 50-bed community hospital in Holly Springs. The UNC Health Rex Holly Springs Hospital offers much-needed medical care and services to all residents of one of the Triangle's fastest-growing regions, closer to home. UNC Health Rex began efforts more than a decade ago to expand medical care in that area, which continues to attract new residents, from young families to retirees. The 242,000 square-foot, eight-story community hospital includes 50 inpatient beds, operating rooms for a wide range of surgeries, a full-service Emergency Department, MRI, radiology, laboratory, pharmacy and much more. The hospital delivers hundreds of babies each year with seven labor and delivery rooms, a C-section operating suite and OB Emergency bays. The hospital employs more than 400 people. UNC Health Rex filed plans in early 2025 to expand the Holly Springs hospital and add additional beds to keep up with growing demand in that region. UNC Health Rex runs a Food Pantry to support patients and their families who struggle with access to healthy food. The pantry is a partnership between UNC Health Rex, Food Lion and the Food Bank of Central & Eastern North Carolina. It's one of the first food pantries operated by a community hospital in North Carolina, and one of only a handful across the country. Patients at UNC Health Rex who indicate that they have recently struggled with food access, or who are considered food insecure, are prescribed a visit to the Food Pantry with their hospital discharge paperwork. They will receive a three-day supply of healthy food, enough for a family of four, including fresh produce, staple items and healthy snacks. The UNC Health Rex Food Pantry will also provide nutritional information, healthy recipes from UNC Health Rex's award-winning chefs and dietitians, and a comprehensive list of food banks and other community resources. The UNC Health Rex Holly Springs Hospital runs a second food pantry. UNC Health Rex's culinary team has created a chef-based program that has attracted international recognition and reinventing traditional "hospital food." They tend an herb and vegetable garden at UNC Health Rex and use local and fresh ingredients as much as possible. UNC Health Rex was the first hospital in the Southeast to get rid of deep fryers and the chefs continue to explore new ways to cook and serve our cuisine. The UNC Health Rex Chefs run a new Mediterranean-themed, heart healthy restaurant called Kardia in the new North Carolina Heart & Vascular Hospital. In addition, the chefs and registered dietitians offer free classes on healthy cooking and eating to patients, their families, and members of the community in a demonstration kitchen. UNC Health Rex performs thousands of heart and vascular procedures a year, including coronary artery bypass grafting, endovascular AAA repair, echocardiography, peripheral vascular ultrasound, valve replacement and repair, angioplasty, cardiac catheterization, minimally invasive structural heart procedures, invasive peripheral vascular interventions, including critical limb ischemia procedures, electrophysiology procedures and stent placement, regardless of patients' ability to pay. UNC Health Rex has been a Chest Pain Accredited hospital for more than a decade, reinforcing the organization's dedication to community outreach and innovation in the care of chest pain patients. The service line also includes open heart surgical suites where physicians perform procedures such as coronary artery bypass grafting, mitral valve replacement and repair, and aortic valve and aortic arch replacements. UNC Health Rex also provides a full range of invasive catheter based cardiac, vascular and electrophysiology procedures. All of the existing heart and vascular services and care, which were provided at more than seven locations across the main hospital in Raleigh, were consolidated into a modern, more efficient and more convenient facility with the March 2017 opening of the North Carolina Heart and Vascular Hospital on UNC Health Rex's main Raleigh campus. This eight-story, 306,000-square-foot hospital provides easier and more comfortable access for patients and their families, physicians and staff, in a facility that's designed to promote healing, prevention, education, innovation and wellness. Our chefs and dietitians regularly hold community healthy cooking demonstrations in a conference space that includes a demonstration kitchen, and have hosted hundreds of participants, including patients and their families. UNC Health Rex Surgery Centers in Raleigh, Cary and Wakefield are used by hundreds of physicians to provide thousands of in- and out-patient surgeries and procedures every year. The three locations have improved access to specialized care for patients across the region. Surgeons make substantial use of minimally invasive technology and innovation for diagnosis and treatment, reducing patients' recovery time and hospital stay and supporting quality care. The centers include 38 operating suites, 11 minor procedure rooms, and various perioperative and ancillary support spaces. UNC Health Rex is increasingly performing surgeries on an outpatient basis and continuing to look for other ways to reduce overall costs for patients. Some of the top procedures include general, orthopedic, gynecologic, and ophthalmic surgeries. During the year, thousands of outpatient orthopedic procedures were performed at Raleigh Orthopaedic Surgery Center in Raleigh and Cary, UNC Health Rex's joint venture with Raleigh Orthopaedic Clinic. UNC Health Rex provides a full range of specialized, multi-disciplinary oncology therapy and support services to thousands of patients in Wake County and beyond including medical, radiation and surgical oncology. In addition to providing cancer treatments and therapies at multiple locations in Wake County, the centers offer outreach and support services including nutritional services, nurse navigation, social work, rehabilitation services and survivorship or end of life care. UNC Health Rex Cancer Center also provides oncologic surgical services to cancer patients through access to UNC Health Rex Hospital. UNC Health Rex Cancer Center is accredited by the Commission on Cancer as a Comprehensive Community Cancer Center and works closely with the nationally recognized N.C. Cancer Hospital and the UNC Lineberger Comprehensive Cancer Center in Chapel Hill to extend specialty oncology services and clinical trials to patients in Raleigh. In early 2017, UNC Health Rex Cancer Care began a Patient & Family Advisory Council. It's a group of survivors and other volunteers who visit with cancer patients and families going through treatment to offer support, gather feedback, develop new programs and activities, and more. The goal is to help staff understand ways they could improve the overall patient experience. In March 2022, UNC Health Rex opened a new UNC Health Rex Cancer Center across the street from the main Raleigh hospital campus. That facility is now home to much of UNC Health Rex's oncology care and services, including support groups, community education and more. At UNC Health Rex's Women's Center, caregivers seek to provide family-centered care to the new mother, baby and extended family. Every year, thousands of babies are born at the Women's Center. These births are supported by 24/7 anesthesiology and neonatology services, high risk obstetrics provided by UNC Maternal Fetal Medicine, lactation support services provided by a team of certified lactation consultants a

Expenses $1,451,713,021 · Grants $2,470 · Revenue $1,722,986,942

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

Listed in Part VII

A Wesley Burks MDA WESLEY BURKS MD

DIRECTOR

Total calculated

$3,763,432

From this org

$0

From related orgs

$3,069,516

Other

$693,916

Hours/week

2 + 58 related

Schedule J breakdown matched by us

Base

$0 + $1,011,260 related

Bonus

$0 + $2,037,366 related

Other

$0 + $20,890 related

Deferred

$0 + $680,850 related

Nontaxable benefits

$0 + $13,066 related

Filer's total

$0 + $3,763,432 related
Joseph M Bumgarner MDJOSEPH M BUMGARNER MD

PHYSICIAN

Total calculated

$2,027,889

From this org

$1,989,337

From related orgs

$0

Other

$38,552

Hours/week

60

Schedule J breakdown matched by us

Base

$1,467,421

Bonus

$521,316

Other

$600

Deferred

$11,250

Nontaxable benefits

$27,302

Filer's total

$2,027,889
Dwijesh B Patel MDDWIJESH B PATEL MD

PHYSICIAN

Total calculated

$1,948,141

From this org

$1,911,162

From related orgs

$0

Other

$36,979

Hours/week

60

Schedule J breakdown matched by us

Base

$1,283,638

Bonus

$626,924

Other

$600

Deferred

$11,250

Nontaxable benefits

$25,729

Filer's total

$1,948,141
Joseph M Falsone MDJOSEPH M FALSONE MD

PHYSICIAN

Total calculated

$1,794,813

From this org

$1,777,117

From related orgs

$0

Other

$17,696

Hours/week

60

Schedule J breakdown matched by us

Base

$1,505,116

Bonus

$271,401

Other

$600

Deferred

$0

Nontaxable benefits

$17,696

Filer's total

$1,794,813
Benjamin G Atkeson MDBENJAMIN G ATKESON MD

PHYSICIAN

Total calculated

$1,777,120

From this org

$1,758,424

From related orgs

$0

Other

$18,696

Hours/week

60

Schedule J breakdown matched by us

Base

$1,061,371

Bonus

$697,053

Other

$0

Deferred

$0

Nontaxable benefits

$18,696

Filer's total

$1,777,120
Mateen Akhtar MDMATEEN AKHTAR MD

PHYSICIAN

Total calculated

$1,767,072

From this org

$1,747,595

From related orgs

$0

Other

$19,477

Hours/week

60

Schedule J breakdown matched by us

Base

$1,522,639

Bonus

$224,956

Other

$0

Deferred

$0

Nontaxable benefits

$19,477

Filer's total

$1,767,072
Ernest L Bovio JrERNEST L BOVIO JR

DIRECTOR/PRESIDENT (THRU 1/24)

Total calculated

$1,232,774

From this org

$1,099,536

From related orgs

$0

Other

$133,238

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$632,810

Bonus

$460,926

Other

$5,800

Deferred

$105,000

Nontaxable benefits

$28,238

Filer's total

$1,232,774
Stephen W BurrissSTEPHEN W BURRISS

DIRECTOR (THRU 7/23)

Total calculated

$896,160

From this org

$0

From related orgs

$711,103

Other

$185,057

Hours/week

2 + 58 related

Schedule J breakdown matched by us

Base

$0 + $556,294 related

Bonus

$0

Other

$0 + $154,809 related

Deferred

$0 + $178,072 related

Nontaxable benefits

$0 + $6,985 related

Filer's total

$0 + $896,160 related
Susan G MooreSUSAN G MOORE

VP/UNC REX PHYSICIANS

Total calculated

$771,954

From this org

$674,563

From related orgs

$0

Other

$97,391

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$527,612

Bonus

$118,224

Other

$28,727

Deferred

$71,345

Nontaxable benefits

$26,046

Filer's total

$771,954
Rig S Patel MDRIG S PATEL MD

DIRECTOR

Total calculated

$625,529

From this org

$587,511

From related orgs

$0

Other

$38,018

Hours/week

2 + 58 related

Schedule J breakdown matched by us

Base

$544,491

Bonus

$42,420

Other

$600

Deferred

$15,000

Nontaxable benefits

$23,018

Filer's total

$625,529
Kirsten S RiggsKIRSTEN S RIGGS

DIRECTOR/COO

Total calculated

$528,309

From this org

$452,332

From related orgs

$0

Other

$75,977

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$358,711

Bonus

$87,821

Other

$5,800

Deferred

$47,739

Nontaxable benefits

$28,238

Filer's total

$528,309
Lorie RhineLORIE RHINE

VP/PATIENT CARE SERVICES & CNO

Total calculated

$526,985

From this org

$440,671

From related orgs

$0

Other

$86,314

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$388,396

Bonus

$46,675

Other

$5,600

Deferred

$58,231

Nontaxable benefits

$28,083

Filer's total

$526,985
Meera Udayakumar MDMEERA UDAYAKUMAR MD

VP/MEDICAL AFFAIRS & CMO

Total calculated

$525,783

From this org

$477,516

From related orgs

$0

Other

$48,267

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$390,726

Bonus

$86,190

Other

$600

Deferred

$48,267

Nontaxable benefits

$0

Filer's total

$525,783
Benjamin J MathewBENJAMIN J MATHEW

VP/CFO & TREASURER

Total calculated

$502,897

From this org

$430,290

From related orgs

$0

Other

$72,607

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$358,996

Bonus

$70,694

Other

$600

Deferred

$45,305

Nontaxable benefits

$27,302

Filer's total

$502,897
Tate M BombardTATE M BOMBARD

VP/GEN COUNSEL&SEC(THRU 12/23)

Total calculated

$413,464

From this org

$0

From related orgs

$348,477

Other

$64,987

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$0 + $280,350 related

Bonus

$0 + $68,127 related

Other

$0

Deferred

$0 + $36,904 related

Nontaxable benefits

$0 + $28,083 related

Filer's total

$0 + $413,464 related
Roy C TempkeROY C TEMPKE

VP/CARE TRANSITIONS

Total calculated

$401,965

From this org

$337,660

From related orgs

$0

Other

$64,305

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$272,697

Bonus

$60,071

Other

$4,892

Deferred

$39,195

Nontaxable benefits

$25,110

Filer's total

$401,965
Timothy M HesterTIMOTHY M HESTER

VICE PRESIDENT

Total calculated

$348,021

From this org

$299,442

From related orgs

$0

Other

$48,579

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$244,652

Bonus

$54,790

Other

$0

Deferred

$20,496

Nontaxable benefits

$28,083

Filer's total

$348,021
Diana G MassaDIANA G MASSA

VICE PRESIDENT

Total calculated

$332,213

From this org

$286,204

From related orgs

$0

Other

$46,009

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$233,575

Bonus

$52,629

Other

$0

Deferred

$28,034

Nontaxable benefits

$17,975

Filer's total

$332,213
Chad N AndersonCHAD N ANDERSON

VICE PRESIDENT

Total calculated

$328,893

From this org

$276,233

From related orgs

$0

Other

$52,660

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$224,907

Bonus

$50,726

Other

$600

Deferred

$24,577

Nontaxable benefits

$28,083

Filer's total

$328,893
Maire Corcoran Ragozzine

VP/GEN COUNSEL&SEC(As of 1/24)

Total calculated

$252,527

From this org

$0

From related orgs

$233,469

Other

$19,058

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$0 + $191,410 related

Bonus

$0 + $31,094 related

Other

$0 + $10,965 related

Deferred

$0 + $3,557 related

Nontaxable benefits

$0 + $15,501 related

Filer's total

$0 + $252,527 related
Meghan E HooleyMEGHAN E HOOLEY

ASST TREASURER & ASST SECT.

Total calculated

$245,720

From this org

$211,067

From related orgs

$0

Other

$34,653

Hours/week

59 + 1 related

Schedule J breakdown matched by us

Base

$185,336

Bonus

$25,131

Other

$600

Deferred

$8,607

Nontaxable benefits

$26,046

Filer's total

$245,720
Ann S Collins MDANN S COLLINS MD

DIRECTOR/CHAIRMAN

Total calculated

$0

Hours/week

4 + 4 related
Catharine B ArrowoodCATHARINE B ARROWOOD

DIRECTOR/VICE CHAIRMAN

Total calculated

$0

Hours/week

4 + 4 related
Kevin T AndersonKEVIN T ANDERSON

DIRECTOR

Total calculated

$0

Hours/week

2 + 2 related
Courtney A CrowderCOURTNEY A CROWDER

DIRECTOR

Total calculated

$0

Hours/week

2 + 2 related
Melissa A FitzpatrickMELISSA A FITZPATRICK

DIRECTOR

Total calculated

$0

Hours/week

2 + 2 related
Kevin D HowellKEVIN D HOWELL

DIRECTOR (THRU 2/24)

Total calculated

$0

Hours/week

2 + 2 related
Jeffrey T LindsayJEFFREY T LINDSAY

DIRECTOR (AS OF 12/23)

Total calculated

$0

Hours/week

2 + 58 related
David F MillsDAVID F MILLS

DIRECTOR

Total calculated

$0

Hours/week

2 + 2 related
Robert B OakesROBERT B OAKES

DIRECTOR

Total calculated

$0

Hours/week

2 + 2 related
Marilyn R Pearson MDMARILYN R PEARSON MD

DIRECTOR

Total calculated

$0

Hours/week

2 + 2 related
Jason T SandnerJASON T SANDNER

DIRECTOR

Total calculated

$0

Hours/week

2 + 2 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

3 · Compensation committee
3 · Independent compensation consultant
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 6:: EMPLOYEES IN MANAGERIAL ROLES PARTICIPATE IN AN ANNUAL INCENTIVE COMPENSATION PLAN. THE COMPENSATION EARNED UNDER THIS PLAN IS BASED PARTLY ON THE COMBINED EARNINGS OF REX HEALTHCARE INC. AND ITS SUBSIDIARIES. ADDITIONALLY, THE INCENTIVE COMPENSATION OF THE PRESIDENT AND CFO IS BASED PARTLY ON THE EARNINGS OF THE UNC HEALTH CARE SYSTEM. OTHER PERFORMANCE MEASURES USED TO DETERMINE INCENTIVE COMPENSATION ARE PHYSICIAN SATISFACTION, PATIENT CARE QUALITY OUTCOMES, EFFECTIVE USE OF TECHNOLOGY AND INDIVIDUAL GOALS.

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

No itemized grants to organizations 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.

UNC HEALTH CARE SYSTEM

SECTION 115 · HEALTHCARE · NC

Directly controlled by UNC HEALTH C
UNC HOSPITALS

SECTION 115 · HEALTHCARE · NC

Directly controlled by UNC HEALTH C
CALDWELL MEMORIAL HOSPITAL

501(C)(3) · HEALTHCARE · NC

Directly controlled by UNC HEALTH C
CALDWELL MEMORIAL HOSPITAL FNDN INC

501(C)(3) · SUPPORT OF CA · NC

Directly controlled by CALDWELL MEM
CHATHAM HOSPITAL INC

501(C)(3) · HEALTHCARE · NC

Directly controlled by UNC HEALTH C
PIEDMONT TRIAD HEALTH SERVICES

501(C)(3) · SUPPORT OF UN · NC

Directly controlled by UNC HEALTH C
REX HEALTHCARE INC

501(C)(3) · HEALTHCARE · NC

Directly controlled by UNC HEALTH C
UNCPN

501(C)(3) · HEALTHCARE · NC

Directly controlled by UNC HEALTH C
UNC ROCKINGHAM HEALTH CARE INC

501(C)(3) · HEALTHCARE · NC

Directly controlled by UNC HEALTH C

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.

Rex Health Ventures GP I LLC

Venture Capit · NC · income $0 · assets $0

Directly controlled by Rex Hospital
Rex Orthopedic Ventures LLC

Orthopedic Pr · NC · income $6,091,904 · assets $0

Directly controlled by Rex Hospital

Related partnerships

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

Rex Surgery Center of Cary

RELATED · ASC · NC · 55.75% owned · share of income $1,193,368 · share of assets $4,891,582

Directly controlled by NA
JRH Ventures LLC

RELATED · Med Campus De · NC · 50% owned · share of income $2,067,966 · share of assets $3,574,318

Directly controlled by NA
Rex Health Ventures I LP

RELATED · Venture Capit · NC · 100% owned · share of income -$4,559,109 · share of assets $21,297,742

Directly controlled by NA
Orthopaedic Surgery Center of Raleigh LL

RELATED · Orthopaedic S · NC · 51% owned · share of income $6,185,016 · share of assets $6,003,943

Directly controlled by NA
TRO Ventures LLC

RELATED · Healthcare · NC · 58.6% owned · share of income $309,121 · share of assets $5,299,630

Directly controlled by NA
Rex Surgery Center of Wakefield

RELATED · ASC · NC · 75.897% owned · share of income $379,184 · share of assets $8,255

Directly controlled by NA
NORTH CHAPEL HILL SURGERY CENTER LLC

RELATED · HEALTHCARE · NC · 50% owned · share of income -$2,571,478 · share of assets $3,521,903

Directly controlled by NA
ORTHOPAEDIC SURGERY CENTER OF PANTHER CR

RELATED · Orthopaedic S · NC · 51% owned · share of income $162,747 · share of assets -$1,973,329

Directly controlled by NA

Related corporations and trusts

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

Rex Enterprises Company Inc

C CORP · OPERATION SUP · NC · share of income $0 · share of assets $0

Directly controlled by REX HEALTHCARE
UNC Physicians Network Grp Practices LLC

C CORP · Healthcare · NC · share of income $0 · share of assets $0

Directly controlled by UNC HEALTHCARE
UNC Physicians Grp Practices II LLC

C CORP · Healthcare · NC · share of income $0 · share of assets $0

Directly controlled by REX HEALTHCARE
UNC Health Innovations Inc

C CORP · OPERATION SUP · NC · share of income $0 · share of assets $0

Directly controlled by REX HEALTHCARE

Provenance

Return type: form_990
Tax year: 2023
Filed: 7 May 2025
IRS schema version: 2023v6.0
Source object: 202511289349301501

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