APPALACHIAN REGIONAL MEDICAL ASSOC… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

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

TO PROMOTE COMMUNITY HEALTH THROUGH THE PROVISION OF HEALTH CARE SERVICES TO THE CITIZENS AND RESIDENTS OF WATAUGA, AVERY, AND ASHE COUNTIES, NC, AND SURROUNDING COUNTIES.

Program Service Accomplishments

Program 1

Expenses: $48,891,005 Revenue: $32,409,501

APPALACHIAN REGIONAL MEDICAL ASSOCIATES (ARMA) ASSISTS IN PROVIDING ACCESS TO HEALTHCARE SERVICES FOR THE RESIDENTS OF WATAUGA AND AVERY COUNTIES IN NC AND SURROUNDING COUNTIES. ARMA PROVIDES PRIMARY CARE, ALONG WITH A WIDE ARRAY OF SPECIALTIES TO SERVE THE NEEDS OF AREA RESIDENTS. SPECIALTIES INCLUDE CARDIOLOGY, ORTHOPAEDICS, OB/GYN, GENERAL SURGERY, UROLOGY, RHEUMATOLOGY, PULMONOLOGY, AND FAMILY MEDICINE. ARMA ALSO PROVIDES ADMINISTRATIVE SERVICES, ELECTRONIC MEDICAL RECORDS SYSTEMS, PHYSICIAN RECRUITMENT, AND PHYSICIAN OFFICE MANAGEMENT SERVICES.

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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%)

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

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

Financial Distress Indicator

Liquidity & Cash Position

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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

$2,383,861

Total Directors

$3,037,239

Key Employees

Highest Compensated

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

APPALACHIAN REGIONAL MEDICAL ASSOCIATES INC