FIRSTHEALTH OF THE CAROLINAS INC

EIN: 561936354 501(c)(3) Health Care

Pinehurst, NC

Total Revenue
$1,190,859,343
Total Expenses
$1,108,631,197
Total Assets
$1,690,324,903
Net Assets
$1,316,393,734
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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
1995
Legal Domicile
NC
Phone
9107151000
Tax Period
2023-10-01 to 2024-09-30

FIRSTHEALTH OF THE CAROLINAS INC, founded in 1995, is a large national nonprofit in the Health Care sector that reported $1.2B in total revenue in fiscal year 2023. Expenses of $1.1B left a modest 7% surplus.

Mission

TO SERVICE THE COMMUNITY'S TOTAL HEALTH CARE NEEDS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $13,121,104
Program Service Revenue $1,133,223,600
Investment Income $35,774,027
Other Revenue $8,740,612
TOTAL REVENUE $1,190,859,343

Expense Breakdown

Grants Paid $355,983
Salaries & Benefits $493,108,609
Fundraising Expenses $0
Program Expenses $929,391,750
Other Expenses $615,166,605
TOTAL EXPENSES $1,108,631,197

Year-over-Year Comparison

2023 2022 Change
Revenue $1,190,859,343 $1,170,036,773 +0.0%
Expenses $1,108,631,197 $1,096,646,867 +0.0%
Net Income $82,228,146 $73,389,906 +0.1%
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

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Governance

Voting Members
17
Independent Members
16
Employees
7101
Volunteers
596

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
8
$2,538,470
Total Directors
21
$1,757,622
Key Employees
14
$7,525,405
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Arthur Medeiros Member (thru 12/31/2023) Secretary (as of 1/1/2024) 1.0
Officer Director
$0 $0 $0
Cindy Goodman Vice Chair/Treasurer (thru 12/31/2023) Chair (as of 1/1/2024) 2.0
Officer Director
$0 $0 $0
David Wood Secretary (thru 12/31/2023) Vice Chair (as of 1/1/2024 2.0
Officer Director
$0 $0 $0
Gary Von Cannon Chair (thru 12/21/2023) Immediate Past Chair (as of 1/1/2024) 2.0
Officer Director
$0 $0 $0
Mickey Foster President and CEO 50.0
Officer Director
$1,570,478 $187,144 $1,757,622
Ray Allen Member (thru 12/31/2023) Treasurer (as of 1/1/2024) 1.0
Officer Director
$0 $0 $0
Sherwood Blackwood Immed. Past Chair (thru 12/31/2023) 2.0
Officer Director
$0 $0 $0
Ben Jones Member 1.0
Director
$0 $0 $0
Brian McMurray Member 1.0
Director
$0 $0 $0
David Grantham MD Member 1.0
Director
$0 $0 $0
Elizabeth Webster Member 1.0
Director
$0 $0 $0
James Obi Member 1.0
Director
$0 $0 $0
Jason Jerry MD Member 1.0
Director
$0 $0 $0
Jefferson Kilpatrick MD Member 1.0
Director
$0 $0 $0
Kamron Monroe DDS Member 1.0
Director
$0 $0 $0
Matthew Harmody MD Member 1.0
Director
$0 $0 $0
Michael Antil MD Member 1.0
Director
$0 $0 $0
Susan Keller Member 1.0
Director
$0 $0 $0
Sushma Patel MD Member 1.0
Director
$0 $0 $0
Tom Pashley Member 1.0
Director
$0 $0 $0
Wayne Lucas MD Member 1.0
Director
$0 $0 $0
Jeffrey Casey Corporate CFO 50.0
Officer
$713,120 $67,728 $780,848
Amy Graham V.P. - Strategy & Innovation 50.0
Key Emp
$491,214 $60,854 $552,068
Berni Szczepanski Chief People Officer 50.0
Key Emp
$501,624 $52,700 $554,324
Chris Beasley Corporate CIO 50.0
Key Emp
$449,165 $59,620 $508,785
Christopher Fraley V.P - Corporate Finance 50.0
Key Emp
$421,134 $52,978 $474,112
Christy Land President - Southern Region 50.0
Key Emp
$357,771 $37,975 $395,746
Cynthia McNeill-McDonald Chief Quality Officer 50.0
Key Emp
$421,804 $34,089 $455,893
Daniel Barnes DO President, FHPG 50.0
Key Emp
$802,647 $70,891 $873,538
Jacklynn Lesniak V.P. - MRH Patient Care Services 50.0
Key Emp
$521,328 $52,883 $574,211
Jenifer Bruno MD Corporate CMO 50.0
Key Emp
$673,071 $66,365 $739,436
Jonathan Davis Corp. COO / President - MRH 50.0
Key Emp
$822,774 $72,334 $895,108
Matthew Prestwood V.P. - MRH Operations 50.0
Key Emp
$327,679 $49,946 $377,625
Rebecca Carter President - Western Region 50.0
Key Emp
$356,345 $28,884 $385,229
Sharon Harrell DDS Chief Diversity Officer 50.0
Key Emp
$311,518 $7,510 $319,028
Susan Beaty President - Eastern Region 50.0
Key Emp
$373,192 $47,110 $420,302
Giridhar Chintalapudi MD Physician 50.0
Highest
$859,656 $31,956 $891,612
Mark Landers MD Physician 50.0
Highest
$1,195,320 $41,724 $1,237,044
Peter Ellman MD Physician 50.0
Highest
$826,870 $41,724 $868,594
William Harris MD Physician 50.0
Highest
$846,404 $41,724 $888,128
William Kitchens MD Physician 50.0
Highest
$852,878 $41,724 $894,602
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 $1,190,859,343 $1,108,631,197 $1,690,324,903 $82,228,146
2023 $1,170,036,773 $1,096,646,867 $1,504,469,833 $73,389,906
2022 $1,109,525,538 $988,613,047 $1,395,879,633 $120,912,491
2021 $986,400,718 $914,649,285 $1,544,188,654 $71,751,433
2020 $882,247,611 $828,668,245 $1,389,893,768 $53,579,366
2019 $863,866,293 $812,680,456 $1,102,145,516 $51,185,837
2018 $775,945,546 $738,562,528 $1,055,888,192 $37,383,018
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