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Nonprofiteer
← ROWAN REGIONAL MEDICAL CENTER AUXILIARY

Form 990 for tax year 2023

Filed by ROWAN REGIONAL MEDICAL CENTER AUXILIARY.

Totals

Total revenue
$62,365
Total expenses
$101,180
Contributions and grants received
$1,325
Grants paid
$50,921
Program service revenue
$0
Investment income
-$46,334
Other revenue
$107,374
Total assets, end of year
$322,157
Total liabilities, end of year
$496
Net assets or fund balances, end of year
$321,661
Program services expenses (Part IX)
$89,556
Management and general expenses
$11,624
Fundraising expenses
$0
Program service expenses (Part III)
$89,556

Program services were 88.5% 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.

  • 1f · All other contributions, gifts and grants

    $1,325

  • 3 · Investment income

    total $18,678 · excluded $18,678

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

    securities $65,012

  • 7c · Gain or loss

    securities -$65,012

  • 7d · Net gain or loss

    total -$65,012 · excluded -$65,012

  • 8a · Fundraising events: gross income

    $58,336

  • 8b · Fundraising events: direct expenses

    $38,042

  • 8c · Net income from fundraising events

    total $20,294 · excluded $20,294

  • 10a · Gross sales of inventory

    $127,876

  • 10b · Cost of goods sold

    $40,796

  • 10c · Net income from sales of inventory

    total $87,080 · related or exempt $87,080

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50,000 · program services $50,000

  • 2 · Grants to domestic individuals

    total $921 · program services $921

  • 11c · Fees: accounting

    total $3,525 · management and general $3,525

  • 11f · Fees: investment management

    total $2,661 · management and general $2,661

  • 12 · Advertising and promotion

    total $660 · program services $660

  • 13 · Office expenses

    total $2,663 · management and general $2,663

  • 24a · Other expenses: CONTRACT LABOR

    total $39,974 · program services $37,975 · management and general $1,999

  • 24b · Other expenses: OTHER SUPPLIES

    total $776 · management and general $776

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $129,030 · end of year $141,623

  • 2 · Savings and temporary cash investments

    beginning of year $213,144 · end of year $172,363

  • 4 · Accounts receivable

    beginning of year $784

  • 8 · Inventories for sale or use

    beginning of year $10,631 · end of year $8,171

  • 17 · Accounts payable and accrued expenses

    beginning of year $543 · end of year $496

  • 27 · Net assets without donor restrictions

    beginning of year $353,046 · end of year $321,661

Mission and programs · 2023

Mission

SEE SCHEDULE O

  • THE ORGANIZATION IS COMMITTED TO SUPPORTING NOVANT HEALTH ROWAN MEDICAL CENTER IN PROVIDING THE HIGHEST QUALITY MEDICAL CARE TO ITS PATIENTS, AND IMPROVING THE HEALTH OF THE CITIZENS OF ROWAN COUNTY AND SURROUNDING COMMUNITIES.

    Expenses $51,581 · Grants $50,921

  • THE ORGANIZATION OPERATES THE HOSPITAL GIFT SHOP AS A CONVENIENCE FOR PATIENTS, FAMILIES, AND VISITORS TO PURCHASE ITEMS SUCH AS FLOWERS, CARDS, AND SMALL GIFTS OR NECESSITIES.

    Expenses $37,975 · Revenue $87,080

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

Listed in Part VII

  • Annie Serwan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Barbara Waggoner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Blanche Glover

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Brenda Thomason

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Carole Simmons

    PRES

    Total calculated
    $0
    Hours/week
    0.2

  • Carolyn Hood

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Charlotte Hall

    TRUSTEE(FR 1/1/23),SECR(FR 11/16/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Dinah Carpenter

    TRUSTEE (TO 9/21/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Doris Yost

    TRUSTEE (TO 3/17/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Dottie Clement

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Georgia McCorkle

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Grace Campbell

    TRUSTEE (TO 9/21/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Jane Creech

    TRUSTEE, 2ND VP (FR 11/16/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Jane Rowland

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Jenny Jones

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Karen Wenker

    TRUSTEE (TO 12/31/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Kim Taylor

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Libby Fowler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Lou Hamilton

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Marjorie Kelly

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Mimi Carlton

    TRUSTEE (FR 3/17/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Nancy Linn

    TRUSTEE, 2ND VP (TO 11/16/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Sherry Wall

    1ST VP

    Total calculated
    $0
    Hours/week
    0.2

  • Sue Lewis

    TRUSTEE (FR 1/1/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Susan Smith

    TRUSTEE (TO 12/31/23)

    Total calculated
    $0
    Hours/week
    0.2

  • Teresa McKinney

    CHAIR

    Total calculated
    $0
    Hours/week
    0.2

  • Zandra Spencer

    TREAS

    Total calculated
    $0
    Hours/week
    0.2

  • Fred Hargett

    EVP/CFO (TO 9/6/23)

    Total calculated
    $2,451,375
    From this org
    $0
    From related orgs
    $2,400,670
    Other
    $50,705
    Hours/week
    0.2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $886,648 related
    Bonus
    $0 + $1,074,292 related
    Other
    $0 + $439,730 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $30,905 related
    Filer's total
    $0 + $2,451,375 related

  • Geoffrey Gardner

    CFO (FR 9/6/23)

    Total calculated
    $1,037,855
    From this org
    $0
    From related orgs
    $909,106
    Other
    $128,749
    Hours/week
    0.2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $496,309 related
    Bonus
    $0 + $343,441 related
    Other
    $0 + $69,356 related
    Deferred
    $0 + $98,858 related
    Nontaxable benefits
    $0 + $29,891 related
    Filer's total
    $0 + $1,037,855 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

  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
PART I, LINE 3: THE FILING ORGANIZATION IS AN INTEGRAL PART OF NOVANT HEALTH, AN INTEGRATED HEALTHCARE SYSTEM AND RELIES UPON NOVANT HEALTH, INC., THE PARENT ORGANIZATION, TO USE THE PROCESS DESCRIBED IN PART VI, LINE 15A/15B OF THIS RETURN TO ESTABLISH COMPENSATION FOR CERTAIN EXECUTIVES. THIS PROCESS ADHERES TO THE REQUIREMENTS SET FORTH TO SECURE THE REBUTTABLE PRESUMPTION OF REASONABLENESS AND INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT AND DISINTERESTED MEMBERS OF A COMPENSATION COMMITTEE, CONSULTATION WITH INDEPENDENT COMPENSATION CONSULTANTS, THE UTILIZATION OF THIRD-PARTY COMPARABILITY DATA SUCH AS PUBLISHED COMPENSATION SURVEYS, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION.
PART I, LINE 4B
PART I, LINES 4A-C: SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS SEVERANCE NONE NONQUALIFIED GEOFFREY GARDNER $25,993 EQUITY-BASED NONE
PART I, LINE 4B: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS
THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") IS INTENDED TO SUPPORT RETENTION OF KEY EXECUTIVES, AND TO OFFER COMPETITIVE TOTAL COMPENSATION. GENERALLY, ANNUAL CONTRIBUTIONS TO THE PLAN OR PAYMENTS TO PARTICIPANTS WILL BE BASED ON A PERCENTAGE OF THE PARTICIPANT'S BASE SALARY AS OF JANUARY 1ST OF THE PREVIOUS PLAN YEAR AND ARE REPORTED IN COLUMN (C) OF SCHEDULE J. PRIOR TO MAKING THE CONTRIBUTIONS OR PAYMENTS, THE NOVANT HEALTH COMPENSATION AND LEADERSHIP COMMITTEE ("COMMITTEE") WILL APPROVE THE AMOUNTS AS TO REASONABLENESS, WHEN COMBINED WITH ALL OTHER ANNUAL COMPENSATION. A 3 YEAR CLASS-YEAR VESTING PERIOD WILL APPLY UP TO AGE 62, WHEN ALL MONEY WOULD BE VESTED AND PAID OUT TO THE PARTICIPANT. OTHERWISE, VESTING WILL OCCUR ON JANUARY 1ST OF EACH YEAR FOR THE APPROPRIATE CLASS-YEAR VESTING PERIOD. THE COMMITTEE REVIEWS, APPROVES, AND OVERSEES ALL ASPECTS AND ALL ELEMENTS OF EXECUTIVE COMPENSATION AND BENEFITS, INCLUDING THE AMOUNTS AWARDED UNDER THIS SERP.

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.

Related corporations and trusts

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

  • ADEPT HEALTH INC

    C · ADMIN SERVICES · NC

  • CHOICEHEALTH INC

    C · MANAGED CARE · NC

  • COMMUNICARE INC

    C · RENTAL REAL ESTATE · NC

  • KERNERSVILLE MEDICAL CENTER PARK OWNERS' ASSOCIATION

    C · REAL PROPERTY MGMT · NC

  • MEDQUEST INC & SUBSIDIARIES

    C · DIAGNOSTIC IMAGING · DE

  • SALEM DIAGNOSTICS INC

    C · INACTIVE · NC

  • SALEM HEALTH SERVICES INC

    C · INACTIVE · NC

  • THE PARK AT MONROE PROPERTY OWNERS ASSOCIATION INC

    C · REAL PROPERTY MGMT · NC

  • NOVANT HEALTH AFFILIATE II INC

    C · INACTIVE · NC

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349310166

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