APPALACHIAN REGIONAL MEDICAL ASSOCIATES INC

EIN: 205755130 501(c)(3) Health Care

BOONE, NC

Total Revenue
$32,477,319
Total Expenses
$53,145,861
Total Assets
$10,365,180
Net Assets
$-87,662,574
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
NC
Phone
8282624100
Tax Period
2024-07-01 to 2025-06-30

APPALACHIAN REGIONAL MEDICAL ASSOCIATES INC, founded in 2006, is a mid-sized nonprofit in the Health Care sector that reported $32.5M in total revenue in fiscal year 2024. Expenses of $53.1M exceeded revenue, resulting in a 64% operating deficit.

Mission

APPALACHIAN REGIONAL MEDICAL ASSOCIATES (ARMA) IS A HOSPITAL-OWNED PRACTICE MANAGEMENT COMPANY.

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Trantor Score

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

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $52,410
Program Service Revenue $31,799,041
Investment Income $15,408
Other Revenue $610,460
TOTAL REVENUE $32,477,319

Expense Breakdown

Grants Paid $0
Salaries & Benefits $35,806,489
Fundraising Expenses $0
Program Expenses $48,891,005
Other Expenses $17,339,372
TOTAL EXPENSES $53,145,861

Year-over-Year Comparison

2024 2023 Change
Revenue $32,477,319 $30,415,124 +0.1%
Expenses $53,145,861 $52,035,072 +0.0%
Net Income $-20,668,542 $-21,619,948 0.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
4
Employees
N/A
Volunteers
5

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
4
$2,383,861
Total Directors
10
$3,037,239
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Charles Mantooth CEO (thru 12/31/2024) 1.0
Officer Director
$0 $29,239 $1,180,817
David Nathan Nipper CEO/Chair 1.0
Officer Director
$0 $24,156 $472,368
Rick Cassady CFO 1.0
Officer Director
$0 $40,201 $488,132
Stephanie Greer President, Avery Market 1.0
Officer Director
$0 $21,270 $242,544
CECILIA GRASINGER MD Trustee (thru 12/31/2024) 1.0
Director
$0 $0 $0
Jim Deal Chairman 1.0
Director
$0 $0 $0
Mary Louise Roberts Trustee 1.0
Director
$0 $0 $0
Meagan Phillips Trustee 1.0
Director
$0 $0 $0
Paul Dagher MD Trustee 1.0
Director
$0 $22,104 $653,378
Sam Adams Trustee 1.0
Director
$0 $0 $0
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
2025 $32,477,319 $53,145,861 $10,365,180 $-20,668,542
2024 $30,415,124 $52,035,072 $22,577,779 $-21,619,948
2023 $22,136,540 $37,741,305 $12,985,648 $-15,604,765
2022 $31,162,009 $46,886,129 $13,449,032 $-15,724,120
2021 $27,609,573 $43,015,449 $6,464,399 $-15,405,876
2020 $26,482,486 $41,978,658 $6,775,111 $-15,496,172
2019 $25,435,020 $38,559,977 $8,942,583 $-13,124,957
2018 $22,460,872 $31,347,611 $6,593,498 $-8,886,739
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