PRESBYTERIAN MEDICAL CARE CORP (EIN 561376368) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1983

Legal Domicile

Principal Officer

CARL ARMATO

Phone

3362772411

Tax Period

2023-01-01 to 2023-01-31

PRESBYTERIAN MEDICAL CARE CORP, founded in 1983, is a mid-sized nonprofit that reported $22.5M in total revenue in fiscal year 2022. Revenue fell 92% from the prior year — a significant decline worth monitoring. Expenses of $20.5M left a modest 9% surplus.

Mission

PRESBYTERIAN MEDICAL CARE CORPORATION, DOING BUSINESS AS NOVANT HEALTH MATTHEWS MEDICAL CENTER ("NHMMC"), WAS AN INTEGRAL PART OF THE NOVANT HEALTH SYSTEM (COLLECTIVELY KNOWN AS "NOVANT HEALTH"), A NOT-FOR-PROFIT INTEGRATED GROUP OF HOSPITALS, PHYSICIAN CLINICS, OUTPATIENT CENTERS AND OTHER HEALTHCARE SERVICE PROVIDERS. THE NOVANT HEALTH NETWORK CONSISTS OF MORE THAN 1,800 PHYSICIANS AND OVER 35,000 TEAM MEMBERS THAT PROVIDE CARE AT NEARLY 800 LOCATIONS, INCLUDING 15 MEDICAL CENTERS AND HUNDREDS OF OUTPATIENT FACILITIES AND PHYSICIAN CLINICS. HEADQUARTERED IN WINSTON SALEM, NORTH CAROLINA, NOVANT HEALTH IS COMMITTED TO MAKING HEALTHCARE REMARKABLE FOR PATIENTS AND COMMUNITIES PROVIDING NEARLY SIX MILLION PATIENT VISITS ANNUALLY. NOVANT HEALTH MATTHEWS MEDICAL CENTER IS A 157-BED HOSPITAL OFFERING A WIDE RANGE OF SERVICES IN CARDIOVASCULAR, SURGERY, MATERNITY, CANCER, HOSPICE AND PALLIATIVE CARE, OUTPATIENT AND HIGH-LEVEL DIAGNOSTIC CAPABILITIES. SINCE OPENING ITS DOORS IN 1994, NOVANT HEALTH MATTHEWS MEDICAL CENTER HAS PROVIDED QUALITY CARE TO THE COMMUNITIES OF EASTERN MECKLENBURG COUNTY AND ADJACENT UNION COUNTY IN NC. FROM A FULL RANGE OF HOSPITAL-BASED SERVICES TO COMMUNITY PROGRAMS EXTENDING FAR BEYOND OUR WALLS, NOVANT HEALTH MATTHEWS MEDICAL CENTER CONTINUALLY PURSUES ITS MISSION OF IMPROVING THE HEALTH OF OUR COMMUNITIES, ONE PERSON AT A TIME. IN JANUARY 2023, PRESBYTERIAN MEDICAL CARE CORPORATION CONVERTED TO A LIMITED LIABILITY COMPANY WHOLLY OWNED BY NOVANT HEALTH, INC, A TAX-EXEMPT HEALTHCARE ORGANIZATION, AND ALL CONTINUING OPERATIONS ARE REPORTED ON THE NOVANT HEALTH, INC.'S FORM 990.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $155,795

Program Service Revenue $22,264,074

Investment Income $18,167

Other Revenue $59,485

TOTAL REVENUE $22,497,521

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,786,552

Fundraising Expenses $0

Program Expenses $15,196,060

Other Expenses $12,682,169

TOTAL EXPENSES $20,468,721

Year-over-Year Comparison

	2022	2021	Change
Revenue	$22,497,521	$272,320,845	-0.9%
Expenses	$20,468,721	$229,998,584	-0.9%
Net Income	$2,028,800	$42,322,261	-1.0%

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

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

Financial Distress Indicator

Liquidity & Cash Position

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

131

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID VOELLINGER MD	TRUSTEE	0.20	Director	$0	$0	$0
SAAD EHTISHAM	PRESIDENT	0.20	Officer Director	$0	$0	$0
KIMBERLY CASE MD	TRUSTEE	0.20	Director	$0	$0	$0
KATE HATCHER MD	TRUSTEE	0.20	Director	$0	$0	$0
DANIEL COTTINGHAM	TRUSTEE	0.20	Director	$0	$0	$0
JONI DAVIS	TRUSTEE	0.20	Director	$0	$0	$0
KANDI DEITEMEYER EDD	VICE CHAIR	0.20	Officer Director	$0	$0	$0
LINDA FARTHING	SECRETARY	0.20	Officer Director	$0	$0	$0
TALIA GOLDMAN	TRUSTEE	0.20	Director	$0	$0	$0
JAMES JOHNSON MD	TRUSTEE	0.20	Director	$0	$0	$0
THADDEUS JONES	TRUSTEE	0.20	Director	$0	$0	$0
MICHELLE LEE	TREASURER	0.20	Officer Director	$0	$0	$0
JOHN LEWIS	TRUSTEE	0.20	Director	$0	$0	$0
LUIS LOBO	TRUSTEE	0.20	Director	$0	$0	$0
JANELLE LYONS	TRUSTEE	0.20	Director	$0	$0	$0
JAMES TAYLOR	CHAIR	0.20	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
2023	$22,497,521	$20,468,721	No data	$2,028,800
2022	$272,320,845	$229,998,584	$892,898,438	$42,322,261
2021	$303,551,602	$236,098,531	$859,397,199	$67,453,071
2020	$280,186,552	$220,114,357	$791,373,686	$60,072,195
2019	$279,928,581	$215,695,158	$708,414,945	$64,233,423
2018	$270,174,955	$197,403,433	$637,963,690	$72,771,522

PRESBYTERIAN MEDICAL CARE CORP