GASTON MEMORIAL HOSPITAL FOUNDATIO… - 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

1985

Legal Domicile

Phone

7048342000

Tax Period

2023-07-01 to 2024-06-30

GASTON MEMORIAL HOSPITAL FOUNDATION INC, founded in 1985, is a community nonprofit in the Health Care sector that reported $4.1M in total revenue in fiscal year 2023. Revenue surged 142% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.1M, a strong 51% operating margin.

Mission

TO ENGAGE AND INSPIRE OUR COMMUNITY TO SUPPORT CAROMONT HEALTH IN PROVIDING COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE.

Program Service Accomplishments

Program 1

Expenses: $1,957,554

The mission of the CaroMont Health Foundation is to engage and inspire the community to support CaroMont Health by providing compassionate, exceptional and highly reliable care. When donors choose to support the CaroMont Health Foundation, their contributions help fund scholarships, workplace development opportunities for employees and local students, and grants for lifesaving and life-changing treatments.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,729,708

Program Service Revenue $0

Investment Income $1,328,338

Other Revenue $0

TOTAL REVENUE $4,058,046

Expense Breakdown

Grants Paid $1,468,192

Salaries & Benefits $338,044

Fundraising Expenses $0

Program Expenses $1,957,554

Other Expenses $187,044

TOTAL EXPENSES $1,993,280

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,058,046	$1,678,812	+1.4%
Expenses	$1,993,280	$1,552,263	+0.3%
Net Income	$2,064,766	$126,549	+15.3%

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

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

$4,624,433

Total Directors

$1,874,946

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr George Adcock lll	Secretary	1.0	Officer Director	$0	$129,008	$734,921
Mr David O'Connor	EVP/CFO/Asst. Treasurer/Director	1.0	Officer Director	$0	$184,000	$1,140,025
Ms Janie Peak	Chair	1.0	Officer Director	$0	$0	$0
Mr Jason Austell	Director	1.0	Director	$0	$0	$0
Mr Steven Wilson	Director	1.0	Director	$0	$0	$0
Mr K Christopher Peek	CEO	1.0	Officer	$0	$309,455	$2,074,421
Ms Leigh Hickman	CLO/Asst. Sec.	1.0	Officer	$0	$110,160	$675,066
Ms Mary Grace Bean	Director Foundation	40.0	Highest	$129,995	$28,246	$158,241

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	$4,058,046	$1,993,280	$32,229,853	$2,064,766
2023	$1,678,812	$1,552,263	$27,795,692	$126,549
2022	$2,489,196	$1,483,784	$26,052,596	$1,005,412
2021	$2,703,972	$4,171,714	$29,026,116	$-1,467,742
2020	$2,167,745	$1,701,822	$27,264,388	$465,923
2019	$4,282,497	$1,104,904	$27,053,439	$3,177,593
2018	$2,055,056	$1,170,381	$23,891,661	$884,675

GASTON MEMORIAL HOSPITAL FOUNDATION INC