STEDMAN-WADE HEALTH SERVICES INC

EIN: 561214119 501(c)(3) Health Care

WADE, NC

Total Revenue
$8,778,815
Total Expenses
$7,791,247
Total Assets
$9,435,818
Net Assets
$7,320,509
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
NC
Principal Officer
MARGARET COVINGTON
Phone
9104836694
Tax Period
2023-02-01 to 2024-01-31

STEDMAN-WADE HEALTH SERVICES INC, founded in 1978, is a community nonprofit in the Health Care sector that reported $8.8M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $7.8M left a modest 11% surplus.

Mission

THE MISSION OF STEDMAN-WADE HEALTH SERVICES IS TO PROVIDE QUALITY, ACCESSIBLE, AFFORDABLE, PRIMARY AND PREVENTIVE MEDICAL, DENTAL AND BEHAVIORAL HEALTH CARE IN A COMPASSIONATE AND COST EFFECTIVE MANNER TO ALL POPULATIONS.

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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 $2,744,248
Program Service Revenue $5,845,848
Investment Income $0
Other Revenue $188,719
TOTAL REVENUE $8,778,815

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,673,792
Fundraising Expenses $0
Program Expenses $6,403,706
Other Expenses $2,117,455
TOTAL EXPENSES $7,791,247

Year-over-Year Comparison

2023 2022 Change
Revenue $8,778,815 $9,387,966 -0.1%
Expenses $7,791,247 $7,248,692 +0.1%
Net Income $987,568 $2,139,274 -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
9
Independent Members
9
Employees
89
Volunteers
N/A

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
4
$0
Total Directors
9
$0
Key Employees
2
$450,000
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TANDEKA BURKS MEDICAL DIRE 40.00
Key Emp
$260,000 $0 $260,000
NANCY HENDERSON HINES STAFF PHYSIC 40.00
Highest
$240,000 $0 $240,000
MICHAEL KINNO DENTAL DRIEC 40.00
Highest
$200,000 $0 $200,000
SHAUNNA L HERRMAN PHYSICIAN AS 40.00
Highest
$190,500 $0 $190,500
MARGARET COVINGTON CEO 40.00
Key Emp
$190,000 $0 $190,000
LYNETTA ALLEN-GEDDIE PRESIDENT 2.00
Officer Director
$0 $0 $0
HANNAH CHILDRESS DIRECTOR 2.00
Director
$0 $0 $0
KATHIA ENNETT TREASURER 2.00
Officer Director
$0 $0 $0
ALEXUS GILBERT DIRECTOR 2.00
Director
$0 $0 $0
MINERVA GILBERT DIRECTOR 2.00
Director
$0 $0 $0
ANN HENICKS-THOMAS SECRETARY 2.00
Officer Director
$0 $0 $0
MICAH MCFARLEY DIRECTOR 2.00
Director
$0 $0 $0
DONOVAN MCLAURIN DIRECTOR 2.00
Director
$0 $0 $0
JACKIE PAUL-RAY VICE PRESIDE 2.00
Officer Director
$0 $0 $0
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
2025 No data No data No data No data
2024 $9,589,325 $7,676,489 $10,102,232 $1,912,836
2024 $8,778,815 $7,791,247 $9,435,818 $987,568
2023 $9,387,966 $7,248,692 $8,909,455 $2,139,274
2022 $8,008,778 $6,069,032 $6,811,820 $1,939,746
2021 $5,617,244 $5,529,023 $5,929,881 $88,221
2020 $5,967,014 $6,218,993 $5,702,164 $-251,979
2020 $5,967,014 $6,281,869 $5,621,061 $-314,855
2019 $4,839,692 $4,702,436 $3,747,864 $137,256
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