NEW HANOVER REGIONAL MEDICAL CENTER FOUNDATION INC

Financial Trends

Organization Details

NEW HANOVER REGIONAL MEDICAL CENTER FOUNDATION INC, founded in 1991, is a community nonprofit in the Health Care sector that reported $4.4M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. The organization ran a surplus of $1.9M, a strong 43% operating margin.

Mission

NOVANT HEALTH IS A NON-PROFIT INTEGRATED HEALTHCARE SYSTEM OF 15 MEDICAL CENTERS WITH MORE THAN 35,000 EMPLOYEES AND 1,800 PHYSICIANS IN OVER 800 LOCATIONS, AS WELL AS NUMEROUS OUTPATIENT SURGERY CENTERS, MEDICAL PLAZAS, REHABILITATION PROGRAMS, DIAGNOSTIC IMAGING CENTERS AND COMMUNITY HEALTH OUTREACH PROGRAMS. HEADQUARTERED IN WINSTON-SALEM, NORTH CAROLINA, NOVANT HEALTH'S TEAM MEMBERS AND PHYSICIAN PARTNERS CARE FOR PATIENTS AND COMMUNITIES IN NORTH CAROLINA, SOUTH CAROLINA AND GEORGIA. THE NOVANT HEALTH INTEGRATED HEALTHCARE SYSTEM OPERATES TO CARRY OUT ITS CHARITABLE MISSION OF IMPROVING THE HEALTH OF COMMUNITIES IT SERVES AND MAKING HEALTHCARE REMARKABLE FOR PATIENTS. NOVANT HEALTH ACCOMPLISHES THAT MISSION BY PROVIDING AND SUPPORTING EXCELLENT HEALTHCARE FACILITIES AND PHYSICIAN PRACTICES AND BY MAKING A COMMITMENT TO COMMUNITY OUTREACH/SERVICE THROUGH THE PROVISION OF COMMUNITY BENEFIT PROGRAMS. BY BRINGING TOGETHER WORLD-CLASS TECHNOLOGY AND CLINICIANS TO PROVIDE QUALITY CARE, NOVANT HEALTH IS COMMITTED TO CREATING A HEALTHCARE EXPERIENCE THAT IS SIMPLER, MORE CONVENIENT, AND MORE AFFORDABLE SO PATIENTS CAN FOCUS ON GETTING BETTER AND STAYING HEALTHY. IN 2023, NOVANT HEALTH PROVIDED NEARLY 7 MILLION PATIENT VISITS AND OVER $1.5 BILLION OF COMMUNITY BENEFIT EXPENDITURES SYSTEM-WIDE. NEW HANOVER REGIONAL MEDICAL CENTER FOUNDATION, INC. ("NHRMCF") IS AN INTEGRAL PART OF THE NOVANT HEALTH. NHRMCF EXISTS TO SEEK GRANTS, ACCEPT GIFTS, INVEST FUNDS, AND ADMINISTER DONATIONS IN SUPPORT OF NOVANT HEALTH NEW HANOVER REGIONAL MEDICAL CENTER ("NHNHRMC"). NHRMCF'S MISSION IS TO SUPPORT THE NOVANT HEALTH SYSTEM IN IMPROVING THE HEALTH OF OUR COMMUNITIES, ONE PERSON AT A TIME. NHRMCF SUPPORTS PATIENTS, FAMILIES, CAREGIVERS, AND TEAM MEMBERS WITH PROGRAMS AND SERVICES PROVIDING EXPANDED CARE, TREATMENT AND PREVENTION OPTIONS AT NHRMC. NHRMCF ALSO PROVIDES MISSION-ALIGNED GRANTS TO COMMUNITY PARTNERS THAT HELP SUPPLEMENT HEALTHCARE AND PREVENTION PROGRAMS FOR UNDERSERVED AND UNINSURED PATIENTS. ITS DIVERSE BOARD OF COMMUNITY LEADERS IN NEW HANOVER COUNTY, NORTH CAROLINA PROVIDES STEWARDSHIP AND OVERSIGHT OF THE ORGANIZATION'S OPERATIONS AND ACTIVITIES. COMMUNITY OUTREACH COMMUNITY OUTREACH IS A CRITICAL COMPONENT TO THE MISSION OF NOVANT HEALTH. THE HEALTHCARE SYSTEM PROVIDES HUNDREDS OF PROGRAMS THAT SERVE PATIENTS, NEIGHBORS, AND SOME OF THE COMMUNITIES' MOST VULNERABLE CITIZENS. NOVANT ALSO PROVIDES FINANCIAL ASSISTANCE (I.E., CHARITY CARE) FOR ITS QUALIFIED UNINSURED PATIENTS, CATASTROPHIC SETTLEMENTS AND LONG-TERM PAYMENT PLANS TO MEDICALLY INDIGENT PATIENTS, SERVICES TO PATIENTS WITH MEDICARE, MEDICAID, AND OTHER GOVERNMENT MEDICAL PROGRAM COVERAGE (REIMBURSED AT LESS THAN COST), COMMUNITY HEALTH EDUCATION, SUPPORT GROUPS, SUBSIDIZED OUTREACH SERVICES, AND COMMUNITY EVENTS/SCREENINGS. IN ADDITION, NOVANT PARTICIPATES IN MEDICAL RESEARCH, AS WELL AS ACADEMIC HEALTH PROGRAMS AND PARTNERSHIPS WITH A DIVERSE GROUP OF ORGANIZATIONS TO PROVIDE OTHER COMMUNITY INITIATIVES. NOVANT HEALTH IS ALSO COMMITTED TO SUPPORTING THE COMMUNITIES IT SERVES THROUGH CHARITABLE CONTRIBUTIONS TO COMMUNITY-BASED PROGRAMS THAT IMPROVE HEALTH EQUITY AND UPWARD MOBILITY FOR THOSE WHO NEED IT MOST. TOWARD THAT GOAL, NOVANT INVESTS IN COMMUNITY-BASED PROGRAMS THAT ALIGN WITH ITS TWO INVESTMENT PRIORITIES OF DEVELOPING HEALTHY COMMUNITIES AND EXPANDING OPPORTUNITIES FOR HEALTHCARE EDUCATION. IN 2023, NHRMCF'S GIFTS, GRANTS, AND EARNINGS FROM INVESTMENTS WERE USED TO SUPPORT MANY PATIENT AND COMMUNITY OUTREACH PROGRAMS. EXAMPLES OF FINANCIAL SUPPORT PROVIDED TO NHNHRMC INCLUDE: - OPERATIONAL FUNDING TO ESTABLISH A HOSPITAL AT HOME PROGRAM AS A NEW CARE DELIVERY MODEL, PROVIDING THE SAME LEVEL OF CARE AS A HOSPITAL IN PATIENTS' HOMES, WITH THE GOAL OF LOWER COST OF CARE, SHORTER LENGTH OF STAY, LOWER RATES OF HOSPITAL ACQUIRED CONDITIONS, REDUCED READMISSIONS, AND IMPROVED PATIENT EXPERIENCE - CAPITAL FUNDING FOR A MASTER FACILITIES PLANNING ASSESSMENT AIMED AT DETERMINING HIGHEST USE OF EXISTING SPACE, INCLUDING A PHASE IN APPROACH TO IMPROVE FLOW FOR ACCESS TO HEALTHCARE SERVICES, EXPAND GROWING NEEDS FOR HEART & VASCULAR INSTITUTE ("HVI") AND PRE/POST PACU, AND DECREASE UTILIZED ADMINISTRATIVE SPACE - CAPITAL FUNDING FOR FOUR NEW CONTINUOUS RENAL REPLACEMENT THERAPY MACHINES - CAPITAL FUNDING FOR A NEW SET OF POWER STRETCHERS TO REDUCE INJURIES AND IMPROVE PATIENT SAFETY - CAPITAL FUNDING FOR A VIRTUAL SIMULATOR AND RELATED PERIPHERAL EQUIPMENT, PLACED AT BRUNSWICK COMMUNITY COLLEGE FOR MEDICAL TRAINING - CAPITAL FUNDING FOR AN OVERHEAD BODYWEIGHT SUPPORT SYSTEM, PROVIDING POSTURAL CONTROL AND WEIGHT-BEARING ASSISTANCE FOR FALL-FREE THERAPEUTIC ACTIVITIES, WHICH IS BENEFICIAL TO DECREASE THE EFFECTS OF GRAVITY FOR ANY PATIENT POPULATION, ESPECIALLY PATIENTS OF STROKE, SPINAL CORD INJURY, BRAIN INJURY, AND AMPUTATION - CAPITAL FUNDING TO PURCHASE NEW FRESENIUS MACHINES FOR WILLIE STARGELL DIALYSIS CENTER. THESE MACHINES ARE STATE OF THE ART EQUIPMENT THAT ENABLE DIALYSIS NURSES TO PROVIDE SPECIALTY CARE ENHANCING SAFETY, EFFICIENCY, AND EFFECTIVENESS. - ANNUAL SUPPLY OF NEWBORN SWADDLE BLANKETS TO BE GIVEN TO MOTHERS/FAMILIES DELIVERING BABIES AT NHNHRMC - OPERATIONAL FUNDING FOR THE HVI SYMPOSIUM, PROVIDING AN OPPORTUNITY FOR HEALTHCARE PROVIDERS TO EXPAND THEIR KNOWLEDGE AND IMPROVE PATIENT OUTCOMES - OPERATIONAL FUNDING TO THE OFFICE OF WELL-BEING AND RESILIENCE FOR IMPROVEMENT OF NHNHRMC TEAM MEMBER AND PHYSICIAN WELLNESS AND RESILIENCY

Financial Overview (2023)

Year-over-Year Comparison

Governance

Special Practices & Reported Activities

Compensation of Officers, Directors & Key Employees

Historical Data