HUGH CHATHAM MEMORIAL HOSPITAL INC

EIN: 560642846 501(c)(3) Health Care

ELKIN, NC

Total Revenue
$139,460,394
Total Expenses
$171,234,558
Total Assets
$221,645,326
Net Assets
$163,655,587
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1930
Legal Domicile
NC
Phone
3365277000
Tax Period
2023-10-01 to 2024-09-30

HUGH CHATHAM MEMORIAL HOSPITAL INC, founded in 1930, is a major nonprofit in the Health Care sector that reported $139.5M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $171.2M exceeded revenue, resulting in a 23% operating deficit.

Mission

TO PROVIDE BIRTHING AND ACUTE CARE SERVICES IN ADDITION TO SKILLED NURSING, RETIREMENT COMMUNITY, HOME HEALTH, AND HOSPICE SERVICES PRIMARILY TO THE RESIDENTS OF AND SURROUNDING COUNTIES TO SURRY COUNTY, 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 $74,498
Program Service Revenue $133,004,746
Investment Income $4,502,183
Other Revenue $1,878,967
TOTAL REVENUE $139,460,394

Expense Breakdown

Grants Paid $334,679
Salaries & Benefits $82,436,962
Fundraising Expenses $123,233
Program Expenses $155,703,695
Other Expenses $88,462,917
TOTAL EXPENSES $171,234,558

Year-over-Year Comparison

2023 2022 Change
Revenue $139,460,394 $158,347,937 -0.1%
Expenses $171,234,558 $159,591,960 +0.1%
Net Income $-31,774,164 $-1,244,023 +24.5%
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
14
Independent Members
13
Employees
1235
Volunteers
17

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
$979,703
Total Directors
14
$573,332
Key Employees
3
$1,347,259
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BOB BALL Treasurer 1.0
Officer Director
$0 $0 $0
CYNTHIA GONZALES Chairman 1.0
Officer Director
$0 $0 $0
ELENA THOMASSON Asst. Secretary/Treasurer 1.0
Officer Director
$0 $0 $0
PHIL HARRIS Secretary 1.0
Officer Director
$0 $0 $0
ANN ASHMAN Board Member 1.0
Director
$0 $0 $0
BILL JOHNSON Board Member 1.0
Director
$0 $0 $0
CRYSTAL MORPHIS Board Member 1.0
Director
$0 $0 $0
DAVID ACKERMAN Board Member 1.0
Director
$0 $0 $0
DAVID CLINE Board Member 1.0
Director
$0 $0 $0
DR MURUG SUBBIAH Board Member/Chief of Staff 40.0
Director
$488,986 $84,346 $573,332
KEVIN AUSTIN Board Member 1.0
Director
$0 $0 $0
MARK STEPHENS Board Member 1.0
Director
$0 $0 $0
MYRA COX Board Member 1.0
Director
$0 $0 $0
TERRY DARNELL Board Member 1.0
Director
$0 $0 $0
KENT THOMPSON CFO (THRU 10/26/23) 40.0
Officer
$240,298 $32,941 $273,239
KEVIN MAY CFO 40.0
Officer
$165,677 $0 $165,677
PAUL HAMMES CEO 40.0
Officer
$457,089 $83,698 $540,787
ANDREW TATE CPO & VP AMB Services (THRU 2/20/24) 40.0
Key Emp
$258,718 $29,242 $287,960
JONATHAN SNYDER CMO 40.0
Key Emp
$643,823 $73,017 $716,840
MARY BLACKBURN CNO 40.0
Key Emp
$258,097 $84,362 $342,459
DOMINICK CARBONE PHYSICIAN 40.0
Highest
$780,251 $76,065 $856,316
JOHNATHAN WHITAKER PHYSICIAN 40.0
Highest
$906,892 $73,889 $980,781
MARC STEVENS PHYSICIAN 40.0
Highest
$801,001 $51,377 $852,378
SARBA KUNDU PHYSICIAN 40.0
Highest
$1,122,367 $77,346 $1,199,713
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 $139,460,394 $171,234,558 $221,645,326 $-31,774,164
2023 $158,347,937 $159,591,960 $245,776,061 $-1,244,023
2022 $155,071,046 $145,782,846 $255,924,917 $9,288,200
2021 $158,103,524 $139,604,302 $281,613,706 $18,499,222
2020 $139,242,159 $126,593,608 $259,644,895 $12,648,551
2019 $129,645,236 $121,152,513 $239,305,498 $8,492,723
2018 $123,674,410 $114,740,340 $240,612,785 $8,934,070
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