CAROMONT MEDICAL GROUP INC

EIN: 561479712 501(c)(3) Health Care

Gastonia, NC

Total Revenue
$165,685,869
Total Expenses
$208,769,136
Total Assets
$82,782,092
Net Assets
$48,391,413
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
NC
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.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

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
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
5
Independent Members
2
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
4
$3,889,512
Total Directors
6
$1,966,095
Key Employees
0
$0
Highest Compensated
5
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
Explore More Nonprofits
→Top 100 Nonprofits in North Carolina →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare CAROMONT MEDICAL GROUP INC with other nonprofits in North Carolina and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.