ROWAN REGIONAL MEDICAL CENTER FOUN… - Form 990 Financial Data

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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

3362772411

Tax Period

2024-01-01 to 2024-12-31

ROWAN REGIONAL MEDICAL CENTER FOUNDATION INC, founded in 1984, is a community nonprofit in the Health Care sector that reported $2.6M in total revenue in fiscal year 2024. Revenue fell 46% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.0M, a strong 40% operating margin.

Mission

IN THE SPIRIT OF KEEPING OUR FOCUS ON PATIENT-CENTERED, EQUITABLE AND COMPASSIONATE CARE WHILE ENSURING OUR ORGANIZATION IS SUSTAINABLE FOR FUTURE GENERATIONS, WE HAVE RESTATED OUR MISSION, VISION AND VALUES AND ARE NOW GUIDED BY OUR CAUSE. OUR CAUSE WE CREATE A HEALTHIER FUTURE AND BRING REMARKABLE EXPERIENCES TO LIFE. DISCOVER WE CONSISTENTLY SEEK TO INNOVATE, COURAGEOUSLY TRANSFORM OURSELVES AND FIND NEW WAYS TO ADD VALUE FOR OUR PATIENTS, COMMUNITIES AND ONE ANOTHER. EMPOWER WE PROVIDE ONE ANOTHER, OUR PATIENTS, FAMILIES AND COMMUNITIES WITH THE RESOURCES AND ENVIRONMENT TO CREATE SHARED ACCOUNTABILITY AND ACTION. THRIVE WE DEMONSTRATE EQUITY, EMPATHY, SAFETY AND QUALITY TO HELP EACH OTHER, AND OUR COMMUNITIES GROW AND SUCCEED. TOGETHER WE WORK AS A TRUSTED TEAM WITH OUR UNIQUE PERSPECTIVES, LIFE EXPERIENCES AND EXPERTISE TO BRING REMARKABLE TO LIFE IN EVERY INTERACTION. WE ALL BELONG.

Program Service Accomplishments

Program 1

Expenses: $1,263,070 Revenue: $0

THE ORGANIZATION OPERATES TO RAISE COMMUNITY SUPPORT AND FUNDING THROUGH CHARITABLE GIVING FOR ESSENTIAL PROGRAMS, IMPROVED FACILITIES, AND STATE-OF-THE-ART TECHNOLOGY OF NOVANT HEALTH ROWAN MEDICAL...

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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 (2024)

Revenue Breakdown

Contributions & Grants $441,290

Program Service Revenue $0

Investment Income $2,120,908

Other Revenue $0

TOTAL REVENUE $2,562,198

Expense Breakdown

Grants Paid $1,170,781

Salaries & Benefits $202,751

Fundraising Expenses $143,708

Program Expenses $1,263,070

Other Expenses $167,855

TOTAL EXPENSES $1,541,387

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,562,198	$4,767,135	-0.5%
Expenses	$1,541,387	$3,616,931	-0.6%
Net Income	$1,020,811	$1,150,204	-0.1%

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

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

$3,864,338

Total Directors

$2,079,395

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AERIK WILLIAMS MD	TRUSTEE	0.20	Director	$0	$0	$0
ALAN KING	TRUSTEE	0.20	Director	$0	$0	$0
ALISHA BYRD-CLARK	TRUSTEE	0.20	Director	$0	$0	$0
AMY WILSON MD	SECRETARY	0.50	Officer Director	$0	$0	$0
ATLEE JOHNSON III MD	TRUSTEE/UROLOGIST	0.20	Director	$0	$42,742	$551,724
BRYAN OVERCASH	CHAIR (TO 12/31/24)	0.50	Officer Director	$0	$0	$0
ERIC MALLICO MD	TRUSTEE/GENERAL SURGEON	0.20	Director	$0	$54,781	$1,527,671
JOYCE GOODWIN	TRUSTEE	0.20	Director	$0	$0	$0
KAY WILSON	TRUSTEE	0.20	Director	$0	$0	$0
KELLY WITHERS	TRUSTEE (FR 1/1/24)	0.20	Director	$0	$0	$0
MARK DOBY	TRUSTEE (FR 1/1/24)	0.20	Director	$0	$0	$0
MELISSA ALCORN	TRUSTEE	0.20	Director	$0	$0	$0
MICHAEL ARON	TRUSTEE (TO 12/31/24)	0.20	Director	$0	$0	$0
MICHAEL TROPSHA	TRUSTEE (FR 1/1/24)	0.20	Director	$0	$0	$0
SAMANTHA HASPEL	TRUSTEE (TO 12/31/24)	0.20	Director	$0	$0	$0
STARLING JOHNSON	TRUSTEE	0.20	Director	$0	$0	$0
STEPHEN BULLOCK	VICE CHAIR	0.50	Officer Director	$0	$0	$0
WILLIAM GRAHAM	TRUSTEE (TO 12/31/24)	0.20	Director	$0	$0	$0
WILLIAM STATON	TREASURER	0.50	Officer Director	$0	$0	$0
ALICE POPE	EVP/CFO (FR 4/29/24)	0.20	Officer	$0	$183,469	$1,175,156
AMY MAHER	EXEC DIRECTOR (TO 12/31/24)	50.00	Officer	$0	$31,110	$241,631
DOROTHY ANN CAULKINS	SVP FDN (TO 6/1/24)	8.00	Officer	$0	$39,237	$842,395
GEOFFREY GARDNER	CFO (TO 4/28/24)	0.20	Officer	$0	$45,078	$1,299,330
SHARON HARRINGTON	VP CHIEF PHILANTHROPY OFF(FR 6/2/24)	8.00	Officer	$0	$14,848	$305,826
KIMBERLY HENDERSON	FMR OFFICER (12/31/19)	0.00		$0	$199,453	$1,620,829

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	$2,562,198	$1,541,387	$59,597,191	$1,020,811
2023	$4,767,135	$3,616,931	$55,243,803	$1,150,204
2022	$7,218,279	$1,954,788	$50,775,105	$5,263,491
2021	$11,479,503	$14,008,420	$63,491,170	$-2,528,917
2020	$4,632,015	$2,216,087	$54,553,734	$2,415,928
2019	$6,326,436	$1,706,460	$51,311,073	$4,619,976
2018	$6,708,471	$2,291,302	$41,820,277	$4,417,169

ROWAN REGIONAL MEDICAL CENTER FOUNDATION INC