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Nonprofiteer
← FOUNDATION OF FIRSTHEALTH INC

Form 990 for tax year 2024

Filed by FOUNDATION OF FIRSTHEALTH INC.

Totals

Total revenue
$18,176,230
Total expenses
$12,869,997
Contributions and grants received
$10,553,251
Grants paid
$10,790,692
Program services expenses (Part IX)
$11,777,136
Management and general expenses
$1,078,131
Fundraising expenses
$14,730
Program service expenses (Part III)
$11,777,136

Program services were 91.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DANA CASSON

    FOUNDATION PRESIDENT (HIRED 10/11/24)

    Total calculated
    $123,655
    From this org
    $0
    From related orgs
    $93,342
    Other
    $30,313
    Hours/week
    50

  • DANIEL DO BARNES

    PRESIDENT - FHPG, INC.

    Total calculated
    $916,554
    From this org
    $0
    From related orgs
    $822,184
    Other
    $94,370
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $0 + $535,707 related
    Bonus
    $0 + $233,074 related
    Other
    $0 + $53,403 related
    Deferred
    $0 + $67,851 related
    Nontaxable benefits
    $0 + $26,519 related
    Filer's total
    $0 + $916,554 related

  • KATHY STOCKHAM

    FOUNDATION PRESIDENT (RETIRED 1/31/25

    Total calculated
    $453,453
    From this org
    $0
    From related orgs
    $430,530
    Other
    $22,923
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $268,046 related
    Bonus
    $0 + $133,057 related
    Other
    $0 + $29,427 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $22,923 related
    Filer's total
    $0 + $453,453 related

  • MICKEY FOSTER

    PRESIDENT & CEO

    Total calculated
    $1,676,640
    From this org
    $0
    From related orgs
    $1,473,637
    Other
    $203,003
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $0 + $914,543 related
    Bonus
    $0 + $514,864 related
    Other
    $0 + $44,230 related
    Deferred
    $0 + $176,463 related
    Nontaxable benefits
    $0 + $26,540 related
    Filer's total
    $0 + $1,676,640 related

  • AMY CRABTREE

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ART MD EDGERTON

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ART MEDEIROS

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • AUBREY KINSMAN

    MEMBER (AS OF 1/1/25)

    Total calculated
    $0
    Hours/week
    1

  • BRIAN SMITH

    SECRETARY (AS OF 1/1/25)

    Total calculated
    $0
    Hours/week
    1

  • CATHY SCHLAFF

    SECRETARY (THRU 12/31/24)

    Total calculated
    $0
    Hours/week
    1

  • CHUCK GOODMAN

    MEMBER (AS OF 1/1/25)

    Total calculated
    $0
    Hours/week
    1

  • CONNIE FENSTERSTOCK

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DR CINDY GOODMAN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JAMES JACKSON

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JAMES OBI

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN MD ELLIS

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JUDE WINKLEY

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JUDITH KELLEY

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KAREN FITCH

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • KERRY HENSLEY

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MATT MD HARMODY

    ASST. SECRETARY (AS OF 1/1/25)

    Total calculated
    $0
    Hours/week
    1

  • NANCY KAESER

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PETER GROSS

    MEMBER (AS OF 1/1/25)

    Total calculated
    $0
    Hours/week
    1

  • RICH HOLADA

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT BAHNER

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT LOVELL

    MEMBER (THRU 12/31/24)

    Total calculated
    $0
    Hours/week
    1

  • RONALD BALLARD

    ASST. TREASURER

    Total calculated
    $0
    Hours/week
    1

  • RUSTI WELCH

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY CASEY

    CORPORATE CFO

    Total calculated
    $825,921
    From this org
    $0
    From related orgs
    $737,723
    Other
    $88,198
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $0 + $478,388 related
    Bonus
    $0 + $208,152 related
    Other
    $0 + $51,183 related
    Deferred
    $0 + $63,308 related
    Nontaxable benefits
    $0 + $24,890 related
    Filer's total
    $0 + $825,921 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 — 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)

SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
THROUGH A RELATED ORGANIZATION, THE FOLLOWING INDIVIDUAL PARTICIPATED IN CAP-EX (A SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT IN PLACE OF A TRADITIONAL SERP). DURING 2024 THE FOLLOWING RECEIVED AMOUNTS PAID UNDER THE TERMS OF THE SERP: -MICKEY FOSTER: $141,178 -DANIEL BARNES: $43,350 -JEFF CASEY: $38,808
SCHEDULE J, PART II
ALL EMPLOYEES OF THE FOUNDATION OF FIRSTHEALTH, INC. ARE LEASED FROM FIRSTHEALTH OF THE CAROLINAS, INC. FIRSTHEALTH'S BOARD OF DIRECTORS DETERMINES COMPENSATION FOR THE CEO THROUGH ITS COMPENSATION COMMITTEE ("COMMITTEE"). THE COMMITTEE IS COMPOSED OF BOARD MEMBERS WHO ARE INDEPENDENT OF FIRSTHEALTH MANAGEMENT, HAVE NO PERSONAL INTEREST IN THE COMPENSATION ARRANGEMENTS, ARE NOT RELATED TO OR UNDER THE CONTROL OF ANY INDIVIDUAL WHOSE COMPENSATION ARRANGEMENT IS BEING REVIEWED, HAVE NO MATERIAL BUSINESS RELATIONSHIP WITH FIRSTHEALTH, AND ARE NOT PAID FOR THEIR SERVICES AS A BOARD MEMBER. THE COMMITTEE RETAINS AN INDEPENDENT CONSULTANT TO CONDUCT PERIODIC COMPENSATION ANALYSES TO HELP ENSURE FIRSTHEALTH'S COMPENSATION PRACTICES AND COMPENSATION LEVELS ARE REASONABLE. THIS CONSULTANT PROVIDES ONLY ADVISORY SERVICES RELATED TO COMPENSATION MATTERS TO FIRSTHEALTH. TO ATTRACT AND RETAIN THE HIGHEST CALIBER OF HEALTHCARE PROFESSIONALS NEEDED TO SUSTAIN THE QUALITY OF THE HEALTHCARE FIRSTHEALTH PROVIDES TO THE COMMUNITIES THAT IT SERVES, COMPENSATION MUST BE COMPETITIVE WITH THAT PROVIDED BY OTHER COMPETING ORGANIZATIONS IN THE AREA JOB MARKET. WHEN EXECUTIVE POSITIONS ARE FILLED, FIRSTHEALTH TYPICALLY CONDUCTS NATIONAL SEARCHES. FIRSTHEALTH BENCHMARKS AGAINST ORGANIZATIONS OF COMPARABLE SIZE AND MISSION, ACROSS THE REGION AND THE NATION. MARKET DATA IS ASSEMBLED FOR ALL ELEMENTS OF EXECUTIVE COMPENSATION (I.E. CASH COMPENSATION, BENEFITS AND PERQUISITES). COMPENSATION LEVELS REFLECT THE SCOPE OF THE CEO'S RESPONSIBILITIES, EDUCATIONAL BACKGROUND, EXPERIENCE AND INDUSTRY STANDING, AS WELL AS INDIVIDUAL AND ORGANIZATION PERFORMANCE. THE MOST RECENT REVIEW WAS PERFORMED DURING FISCAL YEAR 2024. A SIMILAR PROCESS TO THAT FOR THE CEO IS AFFECTED FOR DETERMINING THE COMPENSATION OF THE OTHER CORPORATE OFFICERS OR KEY EMPLOYEES OF FIRSTHEALTH (I.E. USE OF INDEPENDENT CONSULTANT, COMPARABLE INDUSTRY DATA, ETC.). THE COMMITTEE REVIEWS AND APPROVES THE CEO'S PERFORMANCE ASSESSMENTS AND COMPENSATION RECOMMENDATIONS FOR OTHER CORPORATE OFFICER AND KEY EMPLOYEES. ALL COMPENSATION DECISIONS ARE MADE IN A MANNER THAT IS CONSISTENT WITH FIRSTHEALTH'S BOARD-APPROVED COMPENSATION PHILOSOPHY. THE MOST RECENT YEAR REVIEW WAS PERFORMED DURING FISCAL YEAR 2024.

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.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.1
Source object
202622269349301922

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