Pinehurst, NC
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Sign In — Free (10 views/day)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.
PROVIDE PHILANTHROPIC SUPPORT TO FIRSTHEALTH OF THE CAROLINAS, INC., A HEALTHCARE SYSTEM EXEMPT FROM INCOME TAX UNDER IRS SECTION 501C(3) AND 170(B)(1)(A)(III).
The Foundation of FirstHealth, Inc. ("Foundation") provides philanthropic support to the operating entities and business lines of FirstHealth of the Carolinas, Inc. ("FirstHealth"), a not-for-profit...
The Foundation of FirstHealth, Inc. ("Foundation") provides philanthropic support to the operating entities and business lines of FirstHealth of the Carolinas, Inc. ("FirstHealth"), a not-for-profit healthcare system. This FY 2024 philanthropic support included $10,483,085 in grants to FirstHealth for operational support of existing patient care facilities and services, physician and clinical staff education, and other approved operational needs. Significant FY 2024 disbursement from the Foundation to FirstHealth included, but were not limited to: * $7,500,000 paid toward the Foundation's financial pledge for the new Comprehensive Cancer Center. * $445,579 paid by the FirstHealth Hospice Foundation to cover ongoing annual operating losses of the FirstHealth Hospice House (inpatient facility) and provide for the maintenance of the Healing Gardens at the Hospice House. * $578,697 to cover the operating deficit of the Clara McLean Hospitality House ("Clara's House") located on the FirstHealth Moore Regional Hospital - Pinehurst campus and to offset the cost of community programs held at the facility. * $120,000 paid in support of FirstHealth's Outpatient Palliative Care Program, to offset a portion of the ongoing patient care costs not paid through Medicare and most commercial insurance companies. * $373,283 paid in support of the FirstHealth Physician's Leadership Academy program and the Center for Provider Well-Being. * $145,474 disbursed from the Cancer Care Fund to assist patients with different types of cancer with the cost of medication co-pays, gas money, arranging special transportation needs, special nutritional needs, etc. * $125,960 paid to FirstHealth Moore Regional Hospital in support of numerous nursing education programs, nursing enrichment programs, nursing scholarships, external professional conferences, etc. and for ongoing MAGNET training. * $250,000 to provide underinsured children with quality dental care and outside professional dental services for needed dental surgeries. * $126,737 in support of the Engaged Brains Project, focusing on a community-wide, person-centered approach to dementia education and care. * $267,875 in support of the Reid HealthCare Transformation Fellowship, focusing on designing innovative, person-centered dementia care pathways, involving local healthcare and community resources. * $146,144 to support the FirstFutures initiative, partnering with area community colleges to provide student aid and financial incentives to educate the next generation of the healthcare workforce. * $128,725 disbursed by the FirstHealth Richmond Memorial Hospital Foundation in support of health services provided to the residents of Richmond County. * $20,722 disbursed by the FirstHealth Montgomery Memorial Hospital Foundation in support of health services provided to the residents of Montgomery County. The Clara McLean House ("Clara's House") has served over 13,500 guests since its inception in 2012. This encompasses 24,700 room nights with guests visiting from 48 states and 8 countries. In addition, over 7,500 visits were made to the on-site Healing Garden by guests and the Pinehurst community at-large. In fiscal year 2024, Clara's House focused in on the cancer patient population as its main housing market. With the cancer center entering its second year of operation, the number of room nights for cancer patients staying at Clara's increased by 17%. Thanks to the generous philanthropic support of the community through The Foundation of FirstHealth, Clara's House offered 1,172 nights to more than 240 cancer patients at no charge, equating to an approximate value of $244,340 in accommodations. Many patients and their support person stayed for up to 6 weeks during treatment regimens, which has required staff to step into a more refined skill set to accompany folks through this varied and often arduous portion of their medical and healing journey. Volunteers still come every Monday and make a hot lunch which is a welcome relief as many guests are not only transportation but food insecure as well. From the overall lodging standpoint, 947 guests stayed a total of 1,753 room nights, with 567 of those guests being first time visitors. Guests traveled a mean distance of 80 miles and stayed an average of 2.2 nights. Top diagnostic groups remain oncology, orthopedic and heart patients with the top three counties being served from Cumberland, Robeson and Richmond. Over 115 of those nights were dedicated to provider recruitment, retention and those in service to FirstHealth. Clara's House remains a central hub for community navigation, outreach and advocacy, hosting over 10 different support groups. Over 1,400 visits have been made to Parkinson's, Dementia, Traumatic Brain Injury, Stroke Recovery and Chronic Kidney Disease groups. Music and Art therapy as well as Centering Prayer and Book Club are still going strong after being in service more than a decade from this location. Additionally, four FirstHealth departments currently operate out of Clara's House including FirstFutures. Nearly 500 meetings have taken place both in Shadowlawn and the house at large, requiring turning the children's playroom into a multi-purpose space to accommodate the influx of activities. Volunteers have provided more than 5,000 brownies/baked goods/healthy snacks to be deployed across FirstHealth entities as a morale booster to ultimately enhance patient care and employee satisfaction.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| 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 |
| 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 |
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