CAROMONT MEDICAL GROUP INC

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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

CAROMONT MEDICAL GROUP INC, founded in 1985, is a major nonprofit in the Health Care sector that reported $165.7M in total revenue in fiscal year 2023. Expenses of $208.8M exceeded revenue, resulting in a 26% operating deficit.

Mission

TO PROVIDE COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE.

Program Service Accomplishments

Program 1

Expenses: $198,420,907 Revenue: $165,278,902

CaroMont Medical Group owns and operates a network of 50 primary care and specialty physician practices and five urgent care centers. The group employs more than 200 physicians and over 70 advanced practitioners in 25 different specialties. In fiscal year 2024, the medical group provided 794,153 patient visits. CaroMont Medical Group is active in its communities in a number of ways. The practices make monetary and in-kind contributions to community non-profit organizations, physicians and staff volunteer at community events and health fairs, and leaders serve on community boards.

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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 $0

Program Service Revenue $161,728,368

Investment Income $-48,187

Other Revenue $4,005,688

TOTAL REVENUE $165,685,869

Expense Breakdown

Grants Paid $0

Salaries & Benefits $164,116,554

Fundraising Expenses $0

Program Expenses $198,420,907

Other Expenses $44,652,582

TOTAL EXPENSES $208,769,136

Year-over-Year Comparison

	2023	2022	Change
Revenue	$165,685,869	$155,331,576	+0.1%
Expenses	$208,769,136	$192,179,329	+0.1%
Net Income	$-43,083,267	$-36,847,753	+0.2%

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

1187

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

$3,889,512

Total Directors

$1,966,095

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mr Frank Stewart	Chair	1.0	Officer Director	$0	$0	$0
Dr Andrew Dyksterhouse	Director	20.0	Director	$264,395	$58,427	$504,053
Dr Jay Hendler	Director	40.0	Director	$500,289	$58,372	$558,661
Dr Mark Thompson	Director	40.0	Director	$812,184	$58,494	$870,678
Mr Bob Hovis	Director	1.0	Director	$0	$0	$32,703
Ms Annette Carter	Director	1.0	Director	$0	$0	$0
Mr David O'Connor	EVP/CFO/Asst. Treasurer	1.0	Officer	$0	$184,000	$1,140,025
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
Dr Dustin Letts	Physcian	40.0	Highest	$1,026,424	$67,985	$1,094,409
Dr Inderjeet Singh	Physcian	40.0	Highest	$1,298,837	$67,977	$1,366,814
Dr James Greelish	Physcian	40.0	Highest	$1,196,138	$67,985	$1,264,123
Dr Oh Chang	Physcian	40.0	Highest	$1,108,885	$67,886	$1,176,771
Dr Paul Kochupura	Physcian	40.0	Highest	$1,119,408	$24,296	$1,143,704

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	$165,685,869	$208,769,136	$82,782,092	$-43,083,267
2023	$155,331,576	$192,179,329	$71,862,686	$-36,847,753
2022	$144,361,376	$175,319,689	$65,416,046	$-30,958,313
2021	$131,069,416	$162,051,189	$43,858,251	$-30,981,773
2020	$124,328,633	$149,986,964	$34,318,029	$-25,658,331
2019	$122,372,105	$149,535,956	$32,519,699	$-27,163,851
2018	$121,391,347	$141,008,715	$26,611,482	$-19,617,368