THE FOUNDATION OF FIRSTHEALTH INC (EIN 510191937) - Form 990 Financial Analysis & Trantor Score

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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

1976

Legal Domicile

Phone

9106957500

Tax Period

2023-10-01 to 2024-09-30

THE FOUNDATION OF FIRSTHEALTH INC, founded in 1976, is a mid-sized nonprofit that reported $11.6M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Net assets of $94.4M represent 98 months of operating reserves.

Mission

PROVIDE PHILANTHROPIC SUPPORT OF FIRSTHEALTH OF THE CAROLINAS, INC.

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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 $8,549,355

Program Service Revenue $0

Investment Income $3,164,268

Other Revenue $-161,723

TOTAL REVENUE $11,551,900

Expense Breakdown

Grants Paid $10,483,085

Salaries & Benefits $1,142,320

Fundraising Expenses $24,931

Program Expenses $11,443,191

Other Expenses $724,848

TOTAL EXPENSES $12,350,253

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,551,900	$10,335,371	+0.1%
Expenses	$12,350,253	$13,821,102	-0.1%
Net Income	$-798,353	$-3,485,731	-0.8%

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

214

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

$3,875,294

Total Directors

$3,094,446

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr Daniel Barnes	Member	49.0	Officer Director	$0	$70,891	$873,538
Kathy Stockham	Foundation President	50.0	Officer Director	$0	$39,977	$463,286
Mickey Foster	FHC President & CEO	49.0	Officer Director	$0	$187,144	$1,757,622
Amy Crabtree	Member	1.0	Director	$0	$0	$0
Art Medeiros	Chair (thru 12/31/2023) Past Chair (as of 1/1/2024)	1.0	Director	$0	$0	$0
Brian Smith	Asst. Secretary (as of 1/1/2024)	1.0	Director	$0	$0	$0
Cathy Schlaff	Secretary	1.0	Director	$0	$0	$0
Cindy Goodman	Member	1.0	Director	$0	$0	$0
Connie Fensterstock	Member	1.0	Director	$0	$0	$0
Dr Art Edgerton	Member	1.0	Director	$0	$0	$0
Dr John Ellis	Treasurer	1.0	Director	$0	$0	$0
Dr Matt Harmody	Member (as of 1/1/2024)	1.0	Director	$0	$0	$0
Dr Robert Sponzo	Member	1.0	Director	$0	$0	$0
James J Jackson	Member	1.0	Director	$0	$0	$0
James Obi	Member	1.0	Director	$0	$0	$0
John DeVault	Past Chair (thru 12/31/2023)	1.0	Director	$0	$0	$0
Jude Winkley	Member (as of 1/1/2024)	1.0	Director	$0	$0	$0
Judith Kelley	Member (as of 1/1/2024)	1.0	Director	$0	$0	$0
Karen Fitch	Asst. Secretary (thru 12/31/2023) Chair (as of 1/1/2024)	1.0	Director	$0	$0	$0
Kerry Hensley	Member	1.0	Director	$0	$0	$0
Nancy Kaeser	Member	1.0	Director	$0	$0	$0
Rich Holada	Member	1.0	Director	$0	$0	$0
Robert Bahner	Member	1.0	Director	$0	$0	$0
Robert Lovell	Member	1.0	Director	$0	$0	$0
Ronald Ballard	Asst. Treasurer	1.0	Director	$0	$0	$0
Rusty Welch	Member	1.0	Director	$0	$0	$0
Jeffrey Casey	FHC Corporate CFO	50.0	Officer	$0	$67,728	$780,848

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	$11,551,900	$12,350,253	$98,272,778	$-798,353
2023	$10,335,371	$13,821,102	$86,011,648	$-3,485,731
2022	$15,308,548	$7,961,615	$84,024,548	$7,346,933
2021	$9,255,156	$7,482,344	$97,006,378	$1,772,812
2020	$6,118,535	$3,905,336	$82,841,471	$2,213,199
2019	$7,236,439	$5,086,864	$78,657,579	$2,149,575
2018	$9,385,235	$3,839,886	$78,667,828	$5,545,349

THE FOUNDATION OF FIRSTHEALTH INC