Skip to content
Nonprofiteer
← ANC HEALTHCARE INC

Form 990 for tax year 2022

Filed by ANC HEALTHCARE INC.

Totals

Total revenue
$11,055,076
Total expenses
$4,779,267
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,823,066
Investment income
$4,826,642
Other revenue
$1,405,368
Total assets, end of year
$115,810,337
Total liabilities, end of year
$28,933,840
Net assets or fund balances, end of year
$86,876,497
Program services expenses (Part IX)
$430,198
Management and general expenses
$4,349,069
Fundraising expenses
$0
Program service expenses (Part III)
$430,198

Program services were 9.0% 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.

  • 2a · Program service revenue: MEDICARE/MEDICAID ADJUSTMENTS

    total $3,825,761 · related or exempt $3,825,761

  • 2b · Program service revenue: JOINT VENTURE INCOME

    total $996,250 · related or exempt $996,250

  • 2c · Program service revenue: DRUG PROGRAM REIMBURSEMENT

    total $1,055 · related or exempt $1,055

  • 3 · Investment income

    total $4,826,642 · excluded $4,826,642

  • 11a · Other revenue: OTHER REFUNDS

    total $1,405,368 · related or exempt $1,405,368

  • 11e · Other revenue, total

    $1,405,368

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $416,865 · management and general $416,865

  • 11b · Fees: legal

    total $2,385,516 · management and general $2,385,516

  • 11c · Fees: accounting

    total $299,549 · management and general $299,549

  • 11f · Fees: investment management

    total $2,030 · management and general $2,030

  • 11g · Fees: other

    total $458,801 · management and general $458,801

  • 13 · Office expenses

    total $33,527 · management and general $33,527

  • 17 · Travel

    total $1,814 · management and general $1,814

  • 23 · Insurance

    total $731,478 · management and general $731,478

  • 24a · Other expenses: MEDICAID & MEDICARE ADJ

    total $241,126 · program services $241,126

  • 24b · Other expenses: INCOME AND OTHER TAXES

    total $151,572 · program services $151,572

  • 24c · Other expenses: LITIGATION SETTLEMENTS

    total $37,500 · program services $37,500

  • 24d · Other expenses: MISC EXPENSES

    total $19,280 · management and general $19,280

  • 24e · All other expenses

    total $209 · management and general $209

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $108,161,914 · end of year $110,644,753

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $43,221 · end of year $1,820,182

  • 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 $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,661,465 · end of year $1,387,381

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $1,857,290 · end of year $1,958,021

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $894,259 · end of year $345,590

  • 25 · Other liabilities

    beginning of year $30,238,220 · end of year $28,588,250

  • 27 · Net assets without donor restrictions

    beginning of year $80,591,411 · end of year $86,876,497

Mission and programs · 2022

Mission

THE ORGANIZATION'S MISSION IS TO OPERATE AN INTEGRATED HEALTH DELIVERY SYSTEM FOR THE BENEFIT OF THE RESIDENTS OF WESTERN NORTH CAROLINA. THE ORGANIZATION'S OPERATIONS CEASED DUE TO SALE OF A SUBSTANTIAL PORTION OF ITS ASSETS ON 2/1/19.

Activities or mission (Part I)

SEE FORM 990, PART III, LINE 1.

  • THE ENTITY SOLD THE OPERATING FACILITIES OF THE HEALTH SYSTEM AND A SUBSTANTIAL PORTION OF THE ASSETS, INCLUDING THOSE OF ITS SUBSIDIARIES, IN A PRIOR YEAR. THE ORGANIZATION CONTINUES TO MAINTAIN OVERSITE OF ITS SUBSIDIARIES DURING THE PROCESS OF LIQUIDATION AND EVENTUAL TERMINATION. CURRENT ACTIVITY INCLUDES WINDING DOWN THE REMAINING AFFAIRS OF THE HEALTH SYSTEM, INCLUDING COLLECTION AND SETTLEMENT OF OUTSTANDING RECEIVABLES AND LIABILITIES, AND DISTRIBUTION OF ASSETS. THE ENTITY IS IN THE PROCESS OF WINDING DOWN FOR EVENTUAL TERMINATION.

    Expenses $430,198

As filed on the 2022 return.

Listed in Part VII

  • John W Garrett MD

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1.5 related

  • Thomas Maher

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1.5 related

  • Suzanne S Deferie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Rankin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Worley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Neil Luria

    CEO/CHIEF WIND-DOWN OFFICE

    Total calculated
    $0
    Hours/week
    10 + 1.5 related

  • Gregory Hagood

    CHIEF TRANSITION OFFICER

    Total calculated
    $0
    Hours/week
    2

  • Meg Finnegan

    VP HR

    Total calculated
    $0
    Hours/week
    2

  • Kira Abramovs

    CFO & SECRETARY

    Total calculated
    $0
    Hours/week
    20

  • Paul Hogan

    CONTROLLER

    Total calculated
    $0
    Hours/week
    5

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.

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.

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 partnerships

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

  • HEALTHCARE LIMITED LIABILITY

    N/A · RENTAL · NC

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202412289349301636

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.