WAKE FOREST EMERGENCY PROVIDERS

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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

1994

Legal Domicile

Principal Officer

CHADWICK MILLER MD

Phone

3367164445

Tax Period

2024-01-01 to 2024-12-31

WAKE FOREST EMERGENCY PROVIDERS, founded in 1994, is a major nonprofit in the Health Care sector that reported $118.8M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum.

Mission

THE FILING ORGANIZATION IS DEDICATED TO PROVIDING EMERGENCY HEALTH CARE TO THE COMMUNITY. THE ORGANIZATION'S PRIMARY PURPOSE IS THE PROMOTION OF HEALTH FOR ALL RESIDENTS OF THE COMMUNITIES SERVED.

Program Service Accomplishments

Program 1

Expenses: $118,584,700 Revenue: $118,762,167

THE FILING ORGANIZATION IS DEDICATED TO PROVIDING EMERGENCY HEALTH CARE TO THE COMMUNITY. THE ORGANIZATION'S PRIMARY PURPOSE IS THE PROMOTION OF HEALTH FOR ALL RESIDENTS OF THE COMMUNITIES SERVED...

THE FILING ORGANIZATION IS DEDICATED TO PROVIDING EMERGENCY HEALTH CARE TO THE COMMUNITY. THE ORGANIZATION'S PRIMARY PURPOSE IS THE PROMOTION OF HEALTH FOR ALL RESIDENTS OF THE COMMUNITIES SERVED. THE ORGANIZATION PROVIDES COMPREHENSIVE, COMPASSIONATE, APPROPRIATE, AND RATIONAL MEDICAL CARE TO PATIENTS IN HOSPITAL EMERGENCY ROOMS. THE ORGANIZATION'S PHYSICIANS PARTICIPATE IN BOTH MEDICAID AND MEDICARE PROGRAMS AT ALL OF ITS EMERGENCY DEPARTMENT SITES ON A NON-DISCRIMINATORY BASIS. THE ORGANIZATION FOLLOWS A FINANCIAL ASSISTANCE POLICY, WHICH USES A COMPARISON OF HOUSEHOLD INCOME TO FEDERAL POVERTY GUIDELINES, AMONG OTHER CRITERIA, TO DETERMINE ELIGIBILITY FOR FREE AND DISCOUNTED CARE FOR ITS PATIENTS. FOR THE CALENDAR YEAR ENDED DECEMBER 31, 2024, WAKE FOREST EMERGENCY PROVIDERS RECORDED 717,310 EMERGENCY DEPARTMENT VISITS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $118,762,167

Investment Income $0

Other Revenue $0

TOTAL REVENUE $118,762,167

Expense Breakdown

Grants Paid $52,449

Salaries & Benefits $112,885,394

Fundraising Expenses $0

Program Expenses $118,584,700

Other Expenses $7,545,345

TOTAL EXPENSES $120,483,188

Year-over-Year Comparison

	2024	2023	Change
Revenue	$118,762,167	$90,530,146	+0.3%
Expenses	$120,483,188	$89,729,803	+0.3%
Net Income	$-1,721,021	$800,343	-3.2%

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

643

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

$885,678

Total Directors

$1,595,519

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHADWICK MILLER MD	CHAIR & PRESIDENT	12.00	Officer Director	$0	$65,456	$885,678
PIERCE HIBMA MD	DIRECTOR	40.00	Director	$653,824	$56,017	$709,841
STEPHAN L LILLIE	DIRECTOR & TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL T WAID	DIRECTOR	1.00	Director	$0	$0	$0
J MCLAIN WALLACE JR	DIRECTOR & SECRETARY	1.00	Officer Director	$0	$0	$0
KEVIN STEINL	PHYSICIAN	40.00	Highest	$0	$60,128	$731,525
JOSHUA ZAVITZ	PHYSICIAN	40.00	Highest	$0	$58,429	$672,367
ANKIT NANAVATI	PHYSICIAN	40.00	Highest	$576,715	$51,646	$628,361
ROBERT KINNER	PHYSICIAN	40.00	Highest	$567,186	$59,471	$626,657
ROSS KUHNER	PHYSICIAN	40.00	Highest	$530,602	$60,513	$591,115

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	$118,762,167	$120,483,188	$28,642,630	$-1,721,021
2023	$90,530,146	$89,729,803	$25,495,120	$800,343
2022	$74,684,066	$71,752,775	$18,908,241	$2,931,291
2021	$25,615,957	$27,872,475	$15,326,741	$-2,256,518
2021	$55,080,572	$54,135,289	$12,854,990	$945,283
2020	$52,725,609	$49,525,223	$9,331,818	$3,200,386
2019	$23,923,703	$30,745,649	$8,237,534	$-6,821,946