ROWAN HEALTH SERVICES CORPORATION

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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

1984

Legal Domicile

Principal Officer

CARL ARMATO

Phone

3367182803

Tax Period

2022-01-01 to 2022-01-31

ROWAN HEALTH SERVICES CORPORATION, founded in 1984, is a small nonprofit that reported $148K in total revenue in fiscal year 2021. Revenue fell 71% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $69K, a strong 46% operating margin.

Mission

MISSION NOVANT HEALTH EXISTS TO IMPROVE THE HEALTH OF OUR COMMUNITIES, ONE PERSON AT A TIME. VISION WE, THE NOVANT HEALTH TEAM, WILL DELIVER THE MOST REMARKABLE PATIENT EXPERIENCE, IN EVERY DIMENSION, EVERY TIME. VALUES -COMPASSION: WE TREAT OUR CUSTOMERS AND THEIR FAMILIES, STAFF AND OTHER HEALTHCARE PROVIDERS AS FAMILY MEMBERS WITH KINDNESS, PATIENCE, EMPATHY AND RESPECT. -DIVERSITY AND INCLUSION: WE RECOGNIZE THAT EVERY PERSON IS DIFFERENT, EACH SHAPED BY UNIQUE LIFE EXPERIENCES. THIS ENABLES US TO BETTER UNDERSTAND EACH OTHER AND OUR CUSTOMERS. BY ENGAGING THE STRENGTHS AND TALENTS OF EACH TEAM MEMBER, WE ENSURE A STRONG ORGANIZATION CAPABLE OF PROVIDING REMARKABLE HEALTHCARE TO OUR PATIENTS, FAMILIES AND COMMUNITIES. -PERSONAL EXCELLENCE: WE STRIVE TO GROW PERSONALLY AND PROFESSIONALLY AND APPROACH EACH SERVICE OPPORTUNITY WITH A POSITIVE, FLEXIBLE ATTITUDE. HONESTY AND PERSONAL INTEGRITY GUIDE ALL WE DO. -TEAMWORK: THE NEEDS AND EXPECTATIONS OF ANY ONE CUSTOMER ARE GREATER THAN WHAT ONE PERSON'S SERVICE EFFORTS CAN SATISFY. WE SUPPORT EACH OTHER SO THAT TOGETHER AS A TEAM, WE CAN BE SUCCESSFUL IN THE EYE OF THE CUSTOMER AS A QUALITY SERVICE PROVIDER. -COURAGE: WE ACT BOLDLY IN MAKING THE CHANGES NECESSARY TO ACHIEVE OUR MISSION, VISION AND PROMISE OF DELIVERING REMARKABLE HEALTHCARE. -SAFETY: WE EMBRACE A CULTURE IN WHICH "FIRST, DO NO HARM" IS THE FOUNDATION OF REMARKABLE HEALTHCARE. OUR WORK ENVIRONMENT IS ONE OF OPEN COMMUNICATION, HIGH-RELIABILITY, AND A RELENTLESS QUEST TOWARD ZERO EVENTS OF PREVENTABLE HARM. OUR PEOPLE WE ARE AN INCLUSIVE TEAM OF PURPOSE-DRIVEN PEOPLE INSPIRED AND UNITED BY OUR PASSION TO CARE FOR EACH OTHER, OUR PATIENTS AND OUR COMMUNITIES. WE ALWAYS REMEMBER, OUR BUSINESS IS THE CARE OF ALL PEOPLE, STARTING WITH OUR TEAM MEMBERS. OUR PROMISE WE ARE RELENTLESSLY PURSUING REMARKABLE CARE EVERY DAY - SO YOU CAN EXPECT THE COMPASSIONATE, EXPERT, PERSONAL EXPERIENCE YOU DESERVE.

Program Service Accomplishments

Program 1

Expenses: $79,913 Revenue: $27,888

ROWAN HEALTH SERVICES CORPORATION ("RHS") WAS ORGANIZED TO SUPPORT THE HEALTHCARE ENTITIES OF THE ROWAN SYSTEM. IN JANUARY 2022, RHS CONVERTED TO A LIMITED LIABILITY COMPANY WHOLLY OWNED BY NOVANT...

ROWAN HEALTH SERVICES CORPORATION ("RHS") WAS ORGANIZED TO SUPPORT THE HEALTHCARE ENTITIES OF THE ROWAN SYSTEM. IN JANUARY 2022, RHS 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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $27,888

Investment Income $109,391

Other Revenue $11,141

TOTAL REVENUE $148,420

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $79,913

Other Expenses $79,913

TOTAL EXPENSES $79,913

Year-over-Year Comparison

	2021	2020	Change
Revenue	$148,420	$519,088	-0.7%
Expenses	$79,913	$1,020,200	-0.9%
Net Income	$68,507	$-501,112	-1.1%

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

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
MISNER GAVIN MD	TRUSTEE	0.20	Director	$0	$0	$0
BLABON GARY	PRES/ASST SEC	0.20	Officer Director	$0	$0	$0
CLINE WAYNE MD	TRUSTEE	0.20	Director	$0	$0	$0
EVERETT JOHN	TRUSTEE	0.20	Director	$0	$0	$0
HOOD PERRY	TREASURER	0.20	Officer Director	$0	$0	$0
JONES BRUCE	CHAIR	0.20	Officer Director	$0	$0	$0
LOCKLEAR RICHARD	TRUSTEE	0.20	Director	$0	$0	$0
MALLETT BARBARA	TRUSTEE	0.20	Director	$0	$0	$0
PATTERSON FRANCES	VICE CHAIR	0.20	Officer Director	$0	$0	$0
PONDS MARY	SEC	0.20	Officer Director	$0	$0	$0
SMITH DAVID	TRUSTEE	0.20	Director	$0	$0	$0
STEEN FRED	TRUSTEE	0.20	Director	$0	$0	$0
STOREY MATTHEW MD	TRUSTEE	0.20	Director	$0	$0	$0
VAN DER POEL JACK	TRUSTEE	0.20	Director	$0	$0	$0
WAGONER EDWARD	TRUSTEE	0.20	Director	$0	$0	$0
DORTON LEIGHANNE MD	TRUSTEE	0.20	Director	$0	$0	$0
GEGOREK ELIA	TRUSTEE	0.20	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
2022	$148,420	$79,913	No data	$68,507
2021	$519,088	$1,020,200	$20,895,553	$-501,112
2020	$650,370	$1,032,291	$21,725,649	$-381,921
2019	$898,981	$1,073,449	$22,254,076	$-174,468
2018	$602,493	$1,057,694	$21,581,594	$-455,201