GASTON MEMORIAL HOSPITAL INC

EIN: 560619359 501(c)(3) Health Care

GASTONIA, NC

Total Revenue
$790,891,234
Total Expenses
$700,788,807
Total Assets
$895,064,025
Net Assets
$452,613,809
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1945
Legal Domicile
NC
Phone
7048342000
Tax Period
2023-07-01 to 2024-06-30

GASTON MEMORIAL HOSPITAL INC, founded in 1945, is a major nonprofit in the Health Care sector that reported $790.9M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $700.8M left a modest 11% surplus.

Mission

TO PROVIDE COMPASSIONATE, EXCEPTIONAL, AND HIGHLY RELIABLE CARE.

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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 $734,159
Program Service Revenue $785,308,522
Investment Income $-10,558
Other Revenue $4,859,111
TOTAL REVENUE $790,891,234

Expense Breakdown

Grants Paid $1,073,616
Salaries & Benefits $320,795,138
Fundraising Expenses $0
Program Expenses $649,498,225
Other Expenses $378,920,053
TOTAL EXPENSES $700,788,807

Year-over-Year Comparison

2023 2022 Change
Revenue $790,891,234 $709,858,408 +0.1%
Expenses $700,788,807 $650,792,303 +0.1%
Net Income $90,102,427 $59,066,105 +0.5%
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

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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
10
Employees
4461
Volunteers
164

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
$4,011,955
Total Directors
17
$1,754,259
Key Employees
2
$2,049,165
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Mr David Payseur Treasurer 1.0
Officer Director
$0 $0 $0
Mr Jeffrey Cash Chair 1.0
Officer Director
$0 $0 $0
Mr Tim Efird Vice chair 1.0
Officer Director
$0 $0 $0
Rev Dr Pearl Burris-Floyd Secretary 1.0
Officer Director
$0 $0 $122,443
Dr Heath High Chief of Staff (COS) Elect through 12/31/23 (non-voting); COS starting 1/1/24 1.0
Director
$0 $59,856 $583,903
Dr Jay Hendler Chief of Staff (COS) through 12/31/23; Immediate Past COS starting 1/1/24 (non-voting) 1.0
Director
$0 $58,372 $558,661
Dr Micheal Gaslin Past-Chief-of-Staff (non-voting) through 12/31/2023 1.0
Director
$20,000 $0 $20,000
Dr Shiddhi Patel Chief-of Staff Elect (non-voting) starting 1/1/2024 1.0
Director
$0 $53,086 $436,549
Mr Bob Hovis Director 1.0
Director
$0 $0 $32,703
Mr Dan Boyd Director 1.0
Director
$0 $0 $0
Mr Frank Stewart Director 1.0
Director
$0 $0 $0
Mr Jason Austell Director 1.0
Director
$0 $0 $0
Mr Jay McGraw Director 1.0
Director
$0 $0 $0
Mr Joseph Davis Jr Director 1.0
Director
$0 $0 $0
Ms Annette Carter Director 1.0
Director
$0 $0 $0
Ms Janie Peak Director 1.0
Director
$0 $0 $0
Rev Dr Benjamin Hinton Director 1.0
Director
$0 $0 $0
Mr David O'Connor EVP/CFO/Asst. Treasurer 45.0
Officer
$956,025 $184,000 $1,140,025
Mr K Christopher Peek CEO 45.0
Officer
$1,764,966 $309,455 $2,074,421
Ms Leigh Hickman CLO/Asst. Sec. 45.0
Officer
$564,906 $110,160 $675,066
Dr Todd Davis EVP Chief Physician Executive 45.0
Key Emp
$1,048,889 $196,368 $1,245,257
Mr Danny Wharton Chief Operating Officer 45.0
Key Emp
$670,464 $133,444 $803,908
Dr George Adcock III VP Medical Affairs 40.0
Highest
$605,913 $129,008 $734,921
Mr Frank Murphy VP Strategy Business Development 40.0
Highest
$703,917 $98,212 $802,129
Mr Joel Riddle VP Human Resources 40.0
Highest
$500,210 $47,907 $548,117
Mr Richard Blackburn VP Support Services 40.0
Highest
$517,138 $197,012 $714,150
Ms Robin Lang VP Chief Information Officer 40.0
Highest
$550,336 $132,449 $682,785
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 $790,891,234 $700,788,807 $895,064,025 $90,102,427
2023 $709,858,408 $650,792,303 $838,442,096 $59,066,105
2022 $689,404,813 $631,933,737 $730,850,666 $57,471,076
2021 $665,062,443 $563,859,749 $627,844,903 $101,202,694
2021 $665,062,443 $563,859,749 $627,844,903 $101,202,694
2020 $583,498,888 $526,498,049 $442,215,147 $57,000,839
2019 $547,007,582 $495,939,580 $440,718,400 $51,068,002
2018 $513,497,423 $470,373,377 $436,498,125 $43,124,046
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