NEW HANOVER REGIONAL MEDICAL CENTE… - 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

1991

Legal Domicile

Principal Officer

CARL ARMATO

Phone

3362772411

Tax Period

2023-01-01 to 2023-12-31

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

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: $2,414,146 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 NEW HANOVER...

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 NEW HANOVER REGIONAL MEDICAL CENTER, A NON-PROFIT HOSPITAL LOCATED IN WILMINGTON, NC.

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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 $1,536,233

Program Service Revenue $0

Investment Income $2,869,729

Other Revenue $0

TOTAL REVENUE $4,405,962

Expense Breakdown

Grants Paid $2,179,012

Salaries & Benefits $0

Fundraising Expenses $5,937

Program Expenses $2,414,146

Other Expenses $333,379

TOTAL EXPENSES $2,512,391

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,405,962	$5,087,445	-0.1%
Expenses	$2,512,391	$2,047,557	+0.2%
Net Income	$1,893,571	$3,039,888	-0.4%

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

N/A

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

$4,974,583

Total Directors

$1,127,633

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ASHLEY WELLS	TRUSTEE (FR 5/23/23)	0.20	Director	$0	$0	$0
DENNIS DOLL	TRUSTEE, VICE CHAIR (FR 11/9/23)	0.20	Officer Director	$0	$0	$0
FRANK HOBART MD	TRUSTEE	0.20	Director	$0	$0	$0
JOHN PACE MD	TRUSTEE	0.20	Director	$0	$0	$0
JOSHUA LAMBETH	TRUSTEE	0.20	Director	$0	$0	$0
KATHERINE MCKENZIE	TRUSTEE	0.20	Director	$0	$0	$0
KIMBERLY DICKENS	TRUSTEE (TO 2/14/23)	0.20	Director	$0	$0	$0
LENWOOD DEAN	TRUSTEE	0.20	Director	$0	$0	$0
MARTIN MEYERSON MD	TRUSTEE	0.20	Director	$0	$0	$0
JOHN MONTEITH	TRUSTEE (TO 4/2/23)	0.20	Director	$0	$0	$0
ROBERT JOHNSTON	VICE CHAIR/TREAS, CHAIR (FR 11/9/23)	0.20	Officer Director	$0	$0	$0
SHELBOURN STEVENS RRT RCP	TRUSTEE(TO 6/29/23)/PRES/COO NHNHRMC	0.20	Director	$0	$30,138	$1,127,633
SLOAN TURNER DVM	TRUSTEE	0.20	Director	$0	$0	$0
BRYAN DURHAM MD	TRUSTEE	0.20	Director	$0	$0	$0
TANYA JORDAN	TRUSTEE (FR 5/23/23)	0.20	Director	$0	$0	$0
WILLIAM PURVIS	CHAIR (TO 11/9/23),TTE (TO 12/31/23)	0.20	Officer Director	$0	$0	$0
DANA CASSON	EXEC DIRECTOR (FR 1/30/23)	50.00	Officer	$0	$53,796	$389,207
DOROTHY ANN CAULKINS	SVP FDN	8.00	Officer	$0	$111,754	$836,987
FRED HARGETT	EVP/CFO (TO 9/6/23)	0.20	Officer	$0	$50,705	$2,451,375
GEOFFREY GARDNER	CFO (FR 9/6/23)	0.20	Officer	$0	$128,749	$1,037,855
JULIA SCHORR DAVIS	EXEC DIRECTOR (TO 1/30/23)	50.00	Officer	$0	$23,071	$259,159

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	No data	No data	No data	No data
2023	$4,405,962	$2,512,391	$123,547,688	$1,893,571
2022	$5,087,445	$2,047,557	$78,035,660	$3,039,888
2021	$5,863,195	$266,212	$84,378,089	$5,596,983
2021	$4,897,230	$1,199,554	$81,606,935	$3,697,676
2020	$2,325,442	$1,783,576	$22,114,927	$541,866
2019	$2,534,114	$1,721,630	$20,880,122	$812,484
2018	$3,072,038	$2,992,535	$20,037,671	$79,503

NEW HANOVER REGIONAL MEDICAL CENTER FOUNDATION INC