ROWAN HEALTH SERVICES CORPORATION (EIN 561424814) - 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

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

ROWAN HEALTH SERVICES CORP. ("RHS") 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. NOVANT HEALTH CONSISTS OF OVER 2,300 PHYSICIANS AND OVER 35,000 TEAM MEMBERS WHO MAKE HEALTHCARE REMARKABLE AT MORE THAN 800 LOCATIONS, INCLUDING 14 MEDICAL CENTERS AND HUNDREDS OF OUTPATIENT FACILITIES AND PHYSICIAN CLINICS. HEADQUARTERED IN WINSTON SALEM, NC, NOVANT HEALTH IS COMMITTED TO MAKING HEALTHCARE REMARKABLE FOR PATIENTS AND COMMUNITIES, SERVING MORE THAN SIX MILLION PATIENTS ANNUALLY. 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. COMMUNITY BENEFIT REPORT THE COMMUNITY BENEFIT REPORT, REFERRED TO AS A COMMUNITY IMPACT REPORT, PREPARED BY NOVANT HEALTH IS A SYSTEM-WIDE REPORT THAT INCLUDES QUALITATIVE AND QUANTITATIVE INFORMATION. PLEASE NOTE THAT THE NUMERIC DATA IN THIS REPORT IS NOT BASED UPON THE FORM 990, SCHEDULE H CRITERIA, BUT RATHER IT HAS BEEN PREPARED IN ACCORDANCE WITH THE NORTH CAROLINA HOSPITAL ASSOCIATION REPORTING GUIDELINES. IT SHOULD NOT BE RELIED UPON AS THE ORGANIZATION'S FORM 990, SCHEDULE H COMMUNITY BENEFIT REPORT, ITS COMMUNITY HEALTH NEEDS ASSESSMENT OR COMMUNITY BENEFIT IMPLEMENTATION STRATEGY. THE 2022 COMMUNITY BENEFIT REPORT WAS NOT COMPILED AT THE TIME THIS TAX RETURN WAS FILED. FOR THE MOST RECENT COMMUNITY BENEFIT REPORT PLEASE VISIT HTTPS://WWW.NOVANTHEALTH.ORG/HOME/ABOUT-US/COMMUNITY-ENGAGEMENT/OUR-IMPA CT.ASPX

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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

ROWAN HEALTH SERVICES CORPORATION