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Nonprofiteer
← GASTON MEMORIAL HOSPITAL INC

Form 990 for tax year 2023

Filed by GASTON MEMORIAL HOSPITAL INC.

Totals

Total revenue
$790,891,234
Total expenses
$700,788,807
Contributions and grants received
$734,159
Grants paid
$1,073,616
Program service revenue
$785,308,522
Investment income
-$10,558
Other revenue
$4,859,111
Total assets, end of year
$895,064,025
Total liabilities, end of year
$442,450,216
Net assets or fund balances, end of year
$452,613,809
Program services expenses (Part IX)
$649,498,225
Management and general expenses
$51,290,582
Fundraising expenses
$0
Program service expenses (Part III)
$649,498,225

Program services were 92.7% 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

    $490,585

  • 1f · All other contributions, gifts and grants

    $243,574

  • 2a · Program service revenue: Patient Service Revenue

    total $784,660,390 · related or exempt $784,660,390

  • 2b · Program service revenue: Ancillary Revenue

    total $648,132 · related or exempt $557,033 · unrelated business $91,099

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $177,269 · excluded $177,269

  • 6c · Rental income or loss

    real property $0 · personal property $0

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

    securities $187,827

  • 7c · Gain or loss

    securities -$187,827 · other assets $0

  • 7d · Net gain or loss

    total -$187,827 · excluded -$187,827

  • 11a · Other revenue: Cafeteria & Vending Income

    total $2,744,102 · excluded $2,744,102

  • 11b · Other revenue: Miscellaneous Revenue

    total $1,960,135 · excluded $1,960,135

  • 11c · Other revenue: Pharmacy Revenue

    total $106,770 · excluded $106,770

  • 11d · All other revenue

    total $48,104 · related or exempt $0 · unrelated business $0 · excluded $48,104

  • 11e · Other revenue, total

    $4,859,111

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,073,410 · program services $1,073,410

  • 2 · Grants to domestic individuals

    total $206 · program services $206

  • 5 · Compensation of officers, directors and key employees

    total $5,005,251 · management and general $5,005,251

  • 7 · Other salaries and wages

    total $259,327,974 · program services $236,667,478 · management and general $22,660,496

  • 8 · Pension plan contributions

    total $5,262,761 · program services $4,711,948 · management and general $550,813

  • 9 · Other employee benefits

    total $33,318,040 · program services $29,830,894 · management and general $3,487,146

  • 10 · Payroll taxes

    total $17,881,112 · program services $16,009,632 · management and general $1,871,480

  • 11a · Fees: management

    total $1,037,736 · program services $1,037,736

  • 11b · Fees: legal

    total $1,634,525 · management and general $1,634,525

  • 11c · Fees: accounting

    total $184,429 · management and general $184,429

  • 11d · Fees: lobbying

    total $49,500 · management and general $49,500

  • 11f · Fees: investment management

    total $15 · management and general $15

  • 11g · Fees: other

    total $83,052,836 · program services $77,917,394 · management and general $5,135,442 · fundraising $0

  • 12 · Advertising and promotion

    total $2,303,630 · program services $551,040 · management and general $1,752,590

  • 13 · Office expenses

    total $13,111,113 · program services $5,070,011 · management and general $8,041,102

  • 14 · Information technology

    total $3,107,832 · program services $3,107,832

  • 16 · Occupancy

    total $7,141,157 · program services $7,141,157

  • 17 · Travel

    total $152,238 · program services $104,434 · management and general $47,804

  • 19 · Conferences, conventions and meetings

    total $1,020,241 · program services $356,331 · management and general $663,910

  • 20 · Interest

    total $7,992,689 · program services $7,992,689

  • 22 · Depreciation, depletion and amortization

    total $45,502,764 · program services $45,502,764

  • 23 · Insurance

    total $2,119,960 · program services $2,119,960

  • 24a · Other expenses: Medical Supplies

    total $134,614,653 · program services $134,614,653

  • 24b · Other expenses: Bad Debt

    total $57,385,079 · program services $57,385,079

  • 24c · Other expenses: Medicaid Assessment Fee

    total $12,782,185 · program services $12,782,185

  • 24d · Other expenses: Equipment Rental & Maintenance

    total $3,288,171 · program services $3,266,945 · management and general $21,226

  • 24e · All other expenses

    total $2,439,300 · program services $2,254,447 · management and general $184,853 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5

  • 4 · Accounts receivable

    beginning of year $83,316,902 · end of year $80,096,437

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $3,756,000

  • 8 · Inventories for sale or use

    beginning of year $12,723,915 · end of year $13,836,565

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,054,592 · end of year $9,894,677

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

    $1,159,438,949

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

    $477,321,936

  • 10c · Land, buildings and equipment, net

    beginning of year $622,309,644 · end of year $682,117,013

  • 11 · Investments: publicly traded securities

    beginning of year $18,663,032 · end of year $348,729

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $96,374,006 · end of year $105,014,604

  • 17 · Accounts payable and accrued expenses

    beginning of year $132,406,624 · end of year $135,340,541

  • 20 · Tax-exempt bond liabilities

    beginning of year $250,284,717 · end of year $236,808,736

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $61,289,914 · end of year $70,300,939

  • 27 · Net assets without donor restrictions

    beginning of year $339,071,374 · end of year $403,966,316

  • 28 · Net assets with donor restrictions

    beginning of year $55,389,467 · end of year $48,647,493

Mission and programs · 2023

Mission

TO PROVIDE COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE.

Activities or mission (Part I)

TO PROVIDE COMPASSIONATE, EXCEPTIONAL, AND HIGHLY RELIABLE CARE.

  • CAROMONT HEALTH'S PHILOSOPHY OF CARE IS FOUNDED IN THREE DISTINCT WAYS. IT IS A HEALTH SYSTEM THAT INVESTS IN THE FUTURE OF HEALTHCARE FROM RESEARCH TO EDUCATION. IT IS AN ACTIVE COMMUNITY PARTNER, SUPPORTING AND DRIVING PROGRAMS THAT ENCOURAGE HEALTHIER LIFESTYLES. IT IS ALSO A DYNAMIC ORGANIZATION FOCUSED ON CONTINUOUS DAILY IMPROVEMENT, ADVANCED MEDICINE AND THE DELIVERY OF COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE. THE FISCAL YEAR ENDING JUNE 30, 2024 SAW CAROMONT HEALTH LIVING ITS VISION TO BE OUR COMMUNITY'S MOST TRUSTED HEALTHCARE PARTNER. THE COMPLETE 2024 COMMUNITY BENEFIT REPORT CAN BE FOUND AT WWW.CAROMONTHEALTH.ORG.

    Expenses $649,498,225 · Grants $1,073,616 · Revenue $785,217,423

As filed on the 2023 return.

Listed in Part VII

  • Mr David Payseur

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Jeffrey Cash

    Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Tim Efird

    Vice chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rev Dr Pearl Burris-Floyd

    Secretary

    Total calculated
    $122,443
    From this org
    $0
    From related orgs
    $122,443
    Other
    $0
    Hours/week
    1 + 40 related

  • Dr Heath High

    Chief of Staff (COS) Elect through 12/31/23 (non-voting); COS starting 1/1/24

    Total calculated
    $583,903
    From this org
    $0
    From related orgs
    $524,047
    Other
    $59,856
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $369,678 related
    Bonus
    $0 + $153,073 related
    Other
    $0 + $1,296 related
    Deferred
    $0 + $35,506 related
    Nontaxable benefits
    $0 + $24,350 related
    Filer's total
    $0 + $583,903 related

  • Dr Jay Hendler

    Chief of Staff (COS) through 12/31/23; Immediate Past COS starting 1/1/24 (non-voting)

    Total calculated
    $558,661
    From this org
    $0
    From related orgs
    $500,289
    Other
    $58,372
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $426,740 related
    Bonus
    $0 + $69,600 related
    Other
    $0 + $3,949 related
    Deferred
    $0 + $43,200 related
    Nontaxable benefits
    $0 + $15,172 related
    Filer's total
    $0 + $558,661 related

  • Dr Micheal Gaslin

    Past-Chief-of-Staff (non-voting) through 12/31/2023

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • Dr Shiddhi Patel

    Chief-of Staff Elect (non-voting) starting 1/1/2024

    Total calculated
    $436,549
    From this org
    $0
    From related orgs
    $383,463
    Other
    $53,086
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $343,964 related
    Bonus
    $0 + $38,232 related
    Other
    $0 + $1,267 related
    Deferred
    $0 + $28,745 related
    Nontaxable benefits
    $0 + $24,341 related
    Filer's total
    $0 + $436,549 related

  • Mr Bob Hovis

    Director

    Total calculated
    $32,703
    From this org
    $0
    From related orgs
    $32,703
    Other
    $0
    Hours/week
    1 + 1 related

  • Mr Dan Boyd

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Frank Stewart

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Jason Austell

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Jay McGraw

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Joseph Davis Jr

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ms Annette Carter

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ms Janie Peak

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rev Dr Benjamin Hinton

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr David O'Connor

    EVP/CFO/Asst. Treasurer

    Total calculated
    $1,140,025
    From this org
    $956,025
    From related orgs
    $0
    Other
    $184,000
    Hours/week
    45 + 10 related

    Schedule J breakdown matched by us

    Base
    $602,432
    Bonus
    $243,238
    Other
    $110,355
    Deferred
    $159,219
    Nontaxable benefits
    $24,781
    Filer's total
    $1,140,025

  • Mr K Christopher Peek

    CEO

    Total calculated
    $2,074,421
    From this org
    $1,764,966
    From related orgs
    $0
    Other
    $309,455
    Hours/week
    45 + 10 related

    Schedule J breakdown matched by us

    Base
    $1,025,632
    Bonus
    $515,175
    Other
    $224,159
    Deferred
    $284,284
    Nontaxable benefits
    $25,171
    Filer's total
    $2,074,421

  • Ms Leigh Hickman

    CLO/Asst. Sec.

    Total calculated
    $675,066
    From this org
    $564,906
    From related orgs
    $0
    Other
    $110,160
    Hours/week
    45 + 10 related

    Schedule J breakdown matched by us

    Base
    $376,380
    Bonus
    $127,220
    Other
    $61,306
    Deferred
    $93,072
    Nontaxable benefits
    $17,088
    Filer's total
    $675,066

  • Dr Todd Davis

    EVP Chief Physician Executive

    Total calculated
    $1,245,257
    From this org
    $1,048,889
    From related orgs
    $0
    Other
    $196,368
    Hours/week
    45 + 10 related

    Schedule J breakdown matched by us

    Base
    $668,559
    Bonus
    $269,166
    Other
    $111,164
    Deferred
    $171,587
    Nontaxable benefits
    $24,781
    Filer's total
    $1,245,257

  • Mr Danny Wharton

    Chief Operating Officer

    Total calculated
    $803,908
    From this org
    $670,464
    From related orgs
    $0
    Other
    $133,444
    Hours/week
    45 + 10 related

    Schedule J breakdown matched by us

    Base
    $447,130
    Bonus
    $176,418
    Other
    $46,916
    Deferred
    $121,124
    Nontaxable benefits
    $12,320
    Filer's total
    $803,908

  • Dr George Adcock III

    VP Medical Affairs

    Total calculated
    $734,921
    From this org
    $605,913
    From related orgs
    $0
    Other
    $129,008
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $404,166
    Bonus
    $137,602
    Other
    $64,145
    Deferred
    $104,259
    Nontaxable benefits
    $24,749
    Filer's total
    $734,921

  • Mr Frank Murphy

    VP Strategy Business Development

    Total calculated
    $802,129
    From this org
    $703,917
    From related orgs
    $0
    Other
    $98,212
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $369,670
    Bonus
    $126,165
    Other
    $208,082
    Deferred
    $82,614
    Nontaxable benefits
    $15,598
    Filer's total
    $802,129

  • Mr Joel Riddle

    VP Human Resources

    Total calculated
    $548,117
    From this org
    $500,210
    From related orgs
    $0
    Other
    $47,907
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $194,358
    Bonus
    $98,253
    Other
    $207,599
    Deferred
    $34,564
    Nontaxable benefits
    $13,343
    Filer's total
    $548,117

  • Mr Richard Blackburn

    VP Support Services

    Total calculated
    $714,150
    From this org
    $517,138
    From related orgs
    $0
    Other
    $197,012
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $346,819
    Bonus
    $112,421
    Other
    $57,898
    Deferred
    $181,656
    Nontaxable benefits
    $15,356
    Filer's total
    $714,150

  • Ms Robin Lang

    VP Chief Information Officer

    Total calculated
    $682,785
    From this org
    $550,336
    From related orgs
    $0
    Other
    $132,449
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $370,858
    Bonus
    $123,370
    Other
    $56,108
    Deferred
    $120,236
    Nontaxable benefits
    $12,213
    Filer's total
    $682,785

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

  • 1a · Travel for companions
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 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
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions
THE ORGANIZATION HAS A POLICY TO ADDRESS WHEN SPOUSAL TRAVEL IS PERMITTED AND PAYS CLUB DUES FOR THE PRESIDENT/CEO FOR BUSINESS PURPOSES AS PART OF THE EMPLOYMENT CONTRACT.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees
THE ORGANIZATION HAS A POLICY TO ADDRESS WHEN SPOUSAL TRAVEL IS PERMITTED AND PAYS CLUB DUES FOR THE PRESIDENT/CEO FOR BUSINESS PURPOSES AS PART OF THE EMPLOYMENT CONTRACT
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOLLOWING INDIVIDUALS RECEIVED DEFERRED COMPENSATION ALLOCATIONS FROM THE FILING ORGANIZATION FROM A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP): DAVID O'CONNOR - $ 116,019 TODD DAVIS, MD - $ 128,387 K. CHRISTOPHER PEEK - $ 241,084 GEORGE ADCOCK III - $ 62,178 ROBIN LANG - $ 56,020 FRANK D. MURPHY - $ 42,410 LEIGH HICKMAN - $ 57,768 DANNY WHARTON - $ 85,790 Joel Riddle - $ 21,657
Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization
EXECUTIVE INCENTIVE COMPENSATION PLAN FOR ALL KEY EMPLOYEES BASED ON THE ACHIEVEMENT OF ANNUAL BUSINESS OBJECTIVES WHICH INCLUDE A FINANCIAL GOAL ATTRIBUTABLE TO OPERATING MARGIN. MANAGER INCENTIVE PLAN BASED ON CONSOLIDATED CORPORATE AND INDIVIDUAL PERFORMANCE GOALS. CERTAIN CAROMONT MEDICAL GROUP, INC. PHYSICIAN'S COMPENSATION PACKAGES ARE BASED ON THE INDIVIDUAL PHYSICIANS NET RESULTS FROM OPERATIONS AS CALCULATED BASED SOLEY ON HIS/HER NET CHARGES LESS HIS/HER ALLOCABLE SHARE OF CLINIC OVERHEAD COSTS.
Schedule J, Part I, Line 6b Compensation contingent on net earnings of a related organization
EXECUTIVE INCENTIVE COMPENSATION PLAN FOR ALL KEY EMPLOYEES BASED ON THE ACHIEVEMENT OF ANNUAL BUSINESS OBJECTIVES WHICH INCLUDE A FINANCIAL GOAL ATTRIBUTABLE TO OPERATING MARGIN. MANAGER INCENTIVE PLAN BASED ON CONSOLIDATED CORPORATE AND INDIVIDUAL PERFORMANCE GOALS. CERTAIN CAROMONT MEDICAL GROUP, INC. PHYSICIAN'S COMPENSATION PACKAGES ARE BASED ON THE INDIVIDUAL PHYSICIANS NET RESULTS FROM OPERATIONS AS CALCULATED BASED SOLEY ON HIS/HER NET CHARGES LESS HIS/HER ALLOCABLE SHARE OF CLINIC OVERHEAD COSTS.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
26 March 2025
IRS schema version
2023v6.0
Source object
202510859349301001

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