Carilion Medical Center

EIN: 540506332 501(c)(3) Health Care

Roanoke, VA

Total Revenue
$1,983,462,548
Total Expenses
$1,918,638,997
Total Assets
$2,217,235,562
Net Assets
$1,019,047,811
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1899
Legal Domicile
VA
Phone
5402245102
Tax Period
2023-10-01 to 2024-09-30

Carilion Medical Center, founded in 1899, is a large national nonprofit in the Health Care sector that reported $2.0B in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $1.9B left a modest 3% surplus.

Mission

Our mission is to improve the health of the communities we serve through our commitment to a common purpose of better patient care, better community health, and lower cost.

Program Service Accomplishments

Program 1
Expenses: $1,646,234,721 Revenue: $1,898,003,377

Carilion Medical Center (CMC) is an affiliate of Carilion Clinic, a not-for-profit health system headquartered in Roanoke, Virginia. CMC includes Carilion Roanoke Memorial Hospital, Carilion Roanoke...

Read more

Carilion Medical Center (CMC) is an affiliate of Carilion Clinic, a not-for-profit health system headquartered in Roanoke, Virginia. CMC includes Carilion Roanoke Memorial Hospital, Carilion Roanoke Community Hospital and surrounding clinics and practices. Carilion Roanoke Memorial Hospital's commitment to improving the health of its community is recognized through its ranking among the elite 11% of Best Hospitals nationally and among the top three hospitals in Virginia by U.S. News and World Report. CMC also has earned five Magnet designations for nursing excellence, placing it in the top 1% of hospitals globally and the only one in Virginia to earn the honor. Committed to innovation and clinical excellence and supported by education and research, Carilion operates a regional cancer center, the region's only Level I Trauma Center, and the region's only pediatric center of excellence, with an inpatient unit within Carilion Roanoke Memorial Hospital that includes a pediatric intensive care unit, Virginia's third largest neonatal ICU, trauma care and western Virginia's only pediatric Level I Trauma Center. CMC admitted over 35,253 patients, delivered 3,274 babies, and provided 211,891 days of care in fiscal year 2024. With nearly 85,000 visits, CMC's emergency services are a critical component of the health safety net in its service area, acting as a key health provider for a significant number of uninsured patients, who comprise about 7 percent of ED visits. More than a dozen pediatric sub-specialties are housed at Carilion Children's freestanding outpatient clinic. They include physical, occupational and speech therapies, and ENT/audiology, mental health and dentistry services. In addition, CMC physicians provide care in a range of specialties at numerous clinic practice sites on and near its Roanoke hospital campuses as well as throughout the Western Virginia region. To meet the growing need for care in Southwest Virginia, in Summer 2025 Carilion opened a $500 million tower addition to Carilion Roanoke Memorial Hospital. The 12-story, 500,000-square-foot Crystal Spring Tower is home to the Carilion Clinic Cardiovascular Institute and a significantly expanded Emergency Department. In addition to providing medical care, Carilion invests significantly in medical education. The health system's Graduate Medical Education program, based at Carilion Roanoke Memorial Hospital, trains more than 300 residents and fellows in 29 programs with nearly half of program graduates remaining in Southwest Virginia to care for patients in the region. Through partnerships with premier institutions like Virginia Tech and Radford University, Carilion also provides undergraduate medical education and training at CMC for physicians, nurses and a range of allied health professionals. In addition, CMC provides numerous community health screenings and education on chronic disease prevention and management, invests in an internal community health workforce, and partners with community organizations to identify and address health needs. To advance its not-for-profit mission, Carilion cares for all patients regardless of their ability to pay. Stated at cost, in fiscal year 2024, CMC provided nearly $76 million in uncompensated care and other community support . Carilion Medical Center's achievements in patient care, education, and community support demonstrate its steadfast commitment to meeting the needs of the communities it serves.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $10,677,232
Program Service Revenue $1,881,826,902
Investment Income $65,422,108
Other Revenue $25,536,306
TOTAL REVENUE $1,983,462,548

Expense Breakdown

Grants Paid $6,123,879
Salaries & Benefits $840,704,812
Fundraising Expenses $279,403
Program Expenses $1,646,234,721
Other Expenses $1,071,810,306
TOTAL EXPENSES $1,918,638,997

Year-over-Year Comparison

2023 2022 Change
Revenue $1,983,462,548 $1,742,822,940 +0.1%
Expenses $1,918,638,997 $1,769,567,616 +0.1%
Net Income $64,823,551 $-26,744,676 -3.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
12
Independent Members
7
Employees
10319
Volunteers
301

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
7
$4,757,347
Total Directors
13
$3,780,549
Key Employees
6
$7,479,995
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Damon Williams Director/Chair 2.0
Officer Director
$0 $0 $10,748
Steven Arner Director/President/CEO 42.0
Officer Director
$0 $209,618 $1,619,810
Ann Hoff PhD Director 2.0
Director
$0 $0 $1,123
Cathy Jo Swanson MD Director / Chief of Medical Staff 2.0
Director
$90,000 $0 $90,000
Daniel Tershak MD Director/Chief of Medical Staff 50.0
Director
$530,882 $31,520 $562,402
Isabel Thornton Director 2.0
Director
$0 $0 $0
Jamie Greenawalt Director 2.0
Director
$0 $0 $0
Janet Frantz Director 2.0
Director
$0 $0 $1,123
Katherin Elam Director 2.0
Director
$0 $0 $0
Kianna Price Marshall Director 2.0
Director
$0 $0 $1,123
Lee Learman MD PhD Director/Physician 4.6
Director
$8,655 $0 $8,655
Michael Nussbaum MD Director/SVP/Surgical Services Chair 50.0
Director
$976,550 $41,513 $1,018,063
Paul Haskins MD Director/Physician 50.0
Director
$382,001 $85,501 $467,502
Donald Halliwill Asst. Treasurer 0.5
Officer
$0 $167,911 $1,287,159
G Robert Vaughan Jr Treasurer 0.5
Officer
$0 $71,002 $529,010
J Harrison Lapuasa Asst. Treasurer 0.5
Officer
$0 $-1,202 $32,907
Julie Smith-Hamilton Asst. Secretary 0.5
Officer
$0 $18,375 $79,103
Nicholas Conte Secretary 3.0
Officer
$0 $174,893 $1,198,610
Daniel Harrington MD Interim Chief Medical Officer/EVP 50.0
Key Emp
$0 $2,444 $332,683
John Jane MD SVP, Chair Neurosurgery 50.0
Key Emp
$654,291 $72,718 $727,009
Jon Sweet MD SVP/Chair, Dept. of Medicine 50.0
Key Emp
$596,807 $82,527 $679,334
Joseph Moskal MD SVP/Chair, Dept. of Orthopedics 50.0
Key Emp
$1,421,697 $24,727 $1,446,424
Michael Abbott Senior Vice President 50.0
Key Emp
$361,790 $100,258 $462,048
Nancy Howell Agee CEO, Carilion Clinic 2.0
Key Emp
$0 $1,792 $3,832,497
Adeolu Olasunkanmi MD Physician 50.0
Highest
$1,352,897 $21,026 $1,373,923
Cara Rogers MD Physician 50.0
Highest
$1,111,647 $24,505 $1,136,152
Eric Marvin MD Physician 50.0
Highest
$1,546,060 $20,234 $1,566,294
Gregory Howes MD Physician 50.0
Highest
$1,476,712 $31,500 $1,508,212
Jonathan Carmouche MD Physician 50.0
Highest
$1,620,383 $26,135 $1,646,518
David Hagadorn Former Officer 0.0
$0 $25,072 $184,176
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 $1,983,462,548 $1,918,638,997 $2,217,235,562 $64,823,551
2023 $1,742,822,940 $1,769,567,616 $1,989,095,314 $-26,744,676
2022 $1,707,278,174 $1,711,194,836 $1,949,690,459 $-3,916,662
2021 $1,763,656,748 $1,586,779,603 $2,196,887,752 $176,877,145
2020 $1,508,211,860 $1,403,447,594 $1,930,321,569 $104,764,266
2019 $1,489,550,023 $1,382,660,716 $1,528,858,933 $106,889,307
2018 $1,381,655,878 $1,319,983,975 $1,471,060,258 $61,671,903
Explore More Nonprofits
Top 100 Nonprofits in Virginia Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare Carilion Medical Center with other nonprofits in Virginia and across the country.