HARNETT HEALTH SYSTEM FOUNDATION (EIN 201929953) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

BRAD HEATH

Phone

9108911000

Tax Period

2024-10-01 to 2024-12-31

HARNETT HEALTH SYSTEM FOUNDATION, founded in 2004, is a community nonprofit in the Health Care sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 419% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 99% operating margin.

Mission

THE FOUNDATION'S PURPOSE IS TO SUPPLEMENT, ENHANCE AND ENRICH THE FACILITIES PROGRAMS AND SERVICES PROVIDED BY HARNETT HEALTH SYSTEM, INC.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,220,149

Program Service Revenue $0

Investment Income $23,441

Other Revenue $0

TOTAL REVENUE $1,243,590

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $8,118

Other Expenses $8,118

TOTAL EXPENSES $8,118

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,243,590	$239,589	+4.2%
Expenses	$8,118	$47,294	-0.8%
Net Income	$1,235,472	$192,295	+5.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,827,612

Total Directors

Key Employees

$2,166,687

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRAD HEATH	CHAIR	4.00	Officer Director	$0	$0	$0
ASHLYN THOMPSON	VICE-CHAIR	4.00	Officer Director	$0	$0	$0
DR OLALEKAN FOLARIN	SECRETARY	4.00	Officer Director	$0	$0	$0
DAVID STEPHENS	TREASURER	4.00	Officer Director	$0	$0	$0
BO JONES	DIRECTOR	1.00	Director	$0	$0	$0
DR LORI LANGDON	DIRECTOR	1.00	Director	$0	$0	$0
JOE LANGLEY	DIRECTOR	1.00	Director	$0	$0	$0
GENE LEWIS	DIRECTOR	1.00	Director	$0	$0	$0
GLENN MCFADDEN	DIRECTOR	1.00	Director	$0	$0	$0
ANN MILTON	DIRECTOR	1.00	Director	$0	$0	$0
APRIL POPE	DIRECTOR	1.00	Director	$0	$0	$0
MELODY PRICE	DIRECTOR	1.00	Director	$0	$0	$0
DR CHRIS STEWART	DIRECTOR	1.00	Director	$0	$0	$0
JOHN WILBOURNE	DIRECTOR	1.00	Director	$0	$0	$0
TARA WILSON	DIRECTOR	1.00	Director	$0	$0	$0
TRIPP WOMBLE	DIRECTOR	1.00	Director	$0	$0	$0
DR CHRIS ZINKHAN	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL NAGOWSKI	CEO	1.00	Officer	$0	$26,851	$1,778,609
BRET JOHNSON	CFO - CFVH	1.00	Officer	$0	$23,349	$827,896
SABRINA BROOKS	VP OF FOUNDATIONS	15.00	Officer	$0	$15,293	$221,107
DANIEL WEATHERLY	COO	1.00	Key Emp	$0	$25,009	$1,016,576
DEBORAH MARSHBURN	CNO	1.00	Key Emp	$0	$22,526	$518,138
PHILIP WOOD JR	CIO	1.00	Key Emp	$0	$25,025	$631,973

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,243,590	$8,118	$2,515,107	$1,235,472
2024	$239,589	$47,294	$1,731,632	$192,295
2023	$185,111	$18,897	$1,351,199	$166,214
2022	$204,283	$71,817	$1,082,013	$132,466
2021	$96,260	$77,383	$1,195,290	$18,877
2020	$80,660	$35,547	$1,069,058	$45,113
2019	$-345,816	$63,563	$986,140	$-409,379
2018	$119,023	$195,708	$1,408,331	$-76,685

HARNETT HEALTH SYSTEM FOUNDATION