BRUNSWICK NOVANT MEDICAL CENTER FO… - 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

2010

Legal Domicile

Principal Officer

CARL ARMATO

Phone

3362772411

Tax Period

2023-01-01 to 2023-12-31

BRUNSWICK NOVANT MEDICAL CENTER FOUNDATION, founded in 2010, is a small nonprofit in the Health Care sector that reported $139K in total revenue in fiscal year 2023. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $297K exceeded revenue, resulting in a 114% operating deficit.

Mission

IN THE SPIRIT OF KEEPING OUR FOCUS ON PATIENT-CENTERED, EQUITABLE AND COMPASSIONATE CARE WHILE ENSURING OUR ORGANIZATION IS SUSTAINABLE FOR FUTURE GENERATIONS, WE HAVE RESTATED OUR MISSION, VISION AND VALUES AND ARE NOW GUIDED BY OUR CAUSE. OUR CAUSE WE CREATE A HEALTHIER FUTURE AND BRING REMARKABLE EXPERIENCES TO LIFE. DISCOVER WE CONSISTENTLY SEEK TO INNOVATE, COURAGEOUSLY TRANSFORM OURSELVES AND FIND NEW WAYS TO ADD VALUE FOR OUR PATIENTS, COMMUNITIES AND ONE ANOTHER. EMPOWER WE PROVIDE ONE ANOTHER, OUR PATIENTS, FAMILIES AND COMMUNITIES WITH THE RESOURCES AND ENVIRONMENT TO CREATE SHARED ACCOUNTABILITY AND ACTION. THRIVE WE DEMONSTRATE EQUITY, EMPATHY, SAFETY AND QUALITY TO HELP EACH OTHER, AND OUR COMMUNITIES GROW AND SUCCEED. TOGETHER WE WORK AS A TRUSTED TEAM WITH OUR UNIQUE PERSPECTIVES, LIFE EXPERIENCES AND EXPERTISE TO BRING REMARKABLE TO LIFE IN EVERY INTERACTION. WE ALL BELONG.

Program Service Accomplishments

Program 1

Expenses: $178,743 Revenue: $0

THE ORGANIZATION OPERATES TO RAISE COMMUNITY SUPPORT AND FUNDING THROUGH CHARITABLE GIVING FOR ESSENTIAL PROGRAMS, IMPROVED FACILITIES, AND STATE-OF-THE-ART TECHNOLOGY OF NOVANT HEALTH BRUNSWICK...

THE ORGANIZATION OPERATES TO RAISE COMMUNITY SUPPORT AND FUNDING THROUGH CHARITABLE GIVING FOR ESSENTIAL PROGRAMS, IMPROVED FACILITIES, AND STATE-OF-THE-ART TECHNOLOGY OF NOVANT HEALTH BRUNSWICK MEDICAL CENTER, A NON-PROFIT HOSPITAL LOCATED IN BOLIVIA, NC.

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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 (2023)

Revenue Breakdown

Contributions & Grants $124,408

Program Service Revenue $0

Investment Income $14,637

Other Revenue $0

TOTAL REVENUE $139,045

Expense Breakdown

Grants Paid $177,347

Salaries & Benefits $0

Fundraising Expenses $35,246

Program Expenses $178,743

Other Expenses $119,941

TOTAL EXPENSES $297,288

Year-over-Year Comparison

	2023	2022	Change
Revenue	$139,045	$7,463,649	-1.0%
Expenses	$297,288	$767,048	-0.6%
Net Income	$-158,243	$6,696,601	-1.0%

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

$4,576,735

Total Directors

$144,515

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON YOUNTS	TRUSTEE (FR 1/1/23)	0.20	Director	$0	$0	$0
JOHN CAIN	TRUSTEE (FR 2/1/23 TO 12/1/23)	0.20	Director	$0	$0	$0
JOHN CAUSEY	TRUSTEE, VICE CHAIR (FR 11/8/23)	0.20	Officer Director	$0	$0	$0
KIMMIE DURHAM	TRUSTEE	0.20	Director	$0	$0	$0
KRISTIN TAIT	VC/TRS(TO 11/8/23),CH(FR 11/8/23)/PM	0.20	Officer Director	$0	$42,105	$144,515
LANNIN BRADDOCK	TRUSTEE, CHAIR (TO 11/8/23)	0.20	Officer Director	$0	$0	$0
MONIKA HEWETT	TRUSTEE (FR 1/1/23)	0.20	Director	$0	$0	$0
SAUNDRA FANTI	TRUSTEE	0.20	Director	$0	$0	$0
SHARONDA DAVIS	TRUSTEE	0.20	Director	$0	$0	$0
STEVEN MOORE	TRUSTEE (FR 1/1/23)	0.20	Director	$0	$0	$0
SUSAN GIBBLE	SECR	0.20	Officer Director	$0	$0	$0
THAD LEWIS	TRUSTEE	0.20	Director	$0	$0	$0
TIMOTHY DANIELS	TRUSTEE (FR 1/1/23)	0.20	Director	$0	$0	$0
WALTER BRYANT	TRUSTEE	0.20	Director	$0	$0	$0
DOROTHY ANN CAULKINS	SVP FDN	8.00	Officer	$0	$111,754	$836,987
FRED HARGETT	EVP/CFO (TO 9/6/23)	0.20	Officer	$0	$50,705	$2,451,375
GEOFFREY GARDNER	CFO (FR 9/6/23)	0.20	Officer	$0	$128,749	$1,037,855
MARGARET WASSUM	EXEC DIRECTOR	50.00	Officer	$0	$14,316	$106,003
KIMBERLY HENDERSON	FMR OFFICER (12/31/19)	0.00		$0	$155,975	$1,241,092

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	No data	No data	No data	No data
2023	$139,045	$297,288	$11,387,558	$-158,243
2022	$7,463,649	$767,048	$11,667,380	$6,696,601
2021	$3,472,957	$229,319	$11,898,584	$3,243,638
2020	$622,533	$214,935	$1,607,251	$407,598
2019	$198,906	$223,320	$887,943	$-24,414
2018	$139,521	$221,487	$748,827	$-81,966

BRUNSWICK NOVANT MEDICAL CENTER FOUNDATION