NHRMC HOME CARE

EIN: 352379154 501(c)(3) Health Care

WINSTON SALEM, NC

Total Revenue
$7,837,552
Total Expenses
$11,088,750
Total Assets
$2,995,441
Net Assets
$-1,489,271
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1964
Legal Domicile
NC
Principal Officer
CARL ARMATO
Phone
3362772411
Tax Period
2023-01-01 to 2023-12-31

NHRMC HOME CARE, founded in 1964, is a community nonprofit in the Health Care sector that reported $7.8M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $11.1M exceeded revenue, resulting in a 41% 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: $8,308,319 Revenue: $7,825,396

THE ORGANIZATION OPERATES TO PROVIDE COMPREHENSIVE, SKILLED, INTERMITTENT HOME HEALTH CARE SERVICES TO THE RESIDENTS OF THE CAPE FEAR REGION OF NORTH CAROLINA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $7,825,396
Investment Income $12,156
Other Revenue $0
TOTAL REVENUE $7,837,552

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,967,808
Fundraising Expenses $0
Program Expenses $8,308,319
Other Expenses $3,120,942
TOTAL EXPENSES $11,088,750

Year-over-Year Comparison

2023 2022 Change
Revenue $7,837,552 $6,912,468 +0.1%
Expenses $11,088,750 $10,778,448 +0.0%
Net Income $-3,251,198 $-3,865,980 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
4
Employees
91
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
6
$3,828,740
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFFERY WARHAFTIG MD TRUSTEE 0.20
Director
$0 $0 $0
JEROME FENNELL SECR 0.20
Officer Director
$0 $0 $0
LYNWOOD MEADOWS TREAS 0.20
Officer Director
$0 $0 $0
MARTHA HIGHSMITH CHAIR 0.20
Officer Director
$0 $0 $0
TERRI KING TRUSTEE 0.20
Director
$0 $0 $0
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
RUTH GLASER PRESIDENT 25.00
Officer
$0 $41,185 $339,510
CARMEN MATTHEWS RN/CASE MANAGER 45.00
Highest
$128,807 $16,208 $145,015
GAYLE SAGE RN/CASE MANAGER 45.00
Highest
$128,390 $254 $128,644
MEGAN HICKS RN/CASE MANAGER 45.00
Highest
$135,701 $8,418 $144,119
SEAN GILBERT PHYSICAL THERAPIST 45.00
Highest
$127,714 $25,117 $152,831
TREVOR WILT PHYSICAL THERAPIST 45.00
Highest
$132,999 $25,523 $158,522
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 $7,837,552 $11,088,750 $2,995,441 $-3,251,198
2022 $6,912,468 $10,778,448 $3,119,188 $-3,865,980
2021 $8,731,038 $9,993,986 $3,627,613 $-1,262,948
2021 $2,042,361 $2,667,679 $3,249,766 $-625,318
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