WakeMed

EIN: 566017737 501(c)(3) Health Care

RALEIGH, NC

Total Revenue
$2,298,360,002
Total Expenses
$2,286,777,227
Total Assets
$1,971,085,645
Net Assets
$885,855,383
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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
1965
Legal Domicile
NC
Phone
9193500522
Tax Period
2023-10-01 to 2024-09-30

WakeMed, founded in 1965, is a large national nonprofit in the Health Care sector that reported $2.3B in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF WAKEMED IS TO IMPROVE THE HEALTH AND WELL-BEING OF OUR COMMUNITY WITH OUTSTANDING AND COMPASSIONATE CARE TO ALL.

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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 $4,849,160
Program Service Revenue $2,268,304,727
Investment Income $23,071,238
Other Revenue $2,134,877
TOTAL REVENUE $2,298,360,002

Expense Breakdown

Grants Paid $2,249,457
Salaries & Benefits $1,257,451,327
Fundraising Expenses $0
Program Expenses $1,989,875,131
Other Expenses $1,027,076,443
TOTAL EXPENSES $2,286,777,227

Year-over-Year Comparison

2023 2022 Change
Revenue $2,298,360,002 $2,067,993,368 +0.1%
Expenses $2,286,777,227 $2,092,838,776 +0.1%
Net Income $11,582,775 $-24,845,408 -1.5%
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
14
Independent Members
10
Employees
13697
Volunteers
1306

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
6
$3,643,805
Total Directors
16
$0
Key Employees
20
$8,635,748
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Blount Williams Board Member 2.1
Director
$0 $0 $0
Christina A Shanahan Board Member 1.8
Director
$0 $0 $0
Dan Blue III Board Member 2.1
Director
$0 $0 $0
Henry L Darnell Board Member (Until 5/25/24) 2.3
Director
$0 $0 $0
James Anthony Penry Board Member 1.8
Director
$0 $0 $0
Keemia Shaw Board Member 1.4
Director
$0 $0 $0
Larry Barbour Board Member (until 5/25/24) 2.5
Director
$0 $0 $0
Laura Helton MD Board Member 1.8
Director
$0 $0 $0
Margaret Bratton Vice Chair 2.1
Director
$0 $0 $0
Mary Nash Rusher Secretary 2.1
Director
$0 $0 $0
Michael Painter Board Member 1.8
Director
$0 $0 $0
Peter M Scott III Board Member 1.4
Director
$0 $0 $0
Robert C Rice Jr Board Member 2.1
Director
$0 $0 $0
Satish Garimella Board Member 1.6
Director
$0 $0 $0
Sonia Barnes Board Member 1.8
Director
$0 $0 $0
Thad L McDonald MD Chair 3.2
Director
$0 $0 $0
David Nussman VP, Compliance and Privacy - Interim (From 12/3/23) 55.0
Officer
$135,983 $34,107 $170,090
Dionne Whitaker Officer - Secretary 50.0
Officer
$84,763 $7,994 $92,757
Donald Gintzig President & CEO 80.0
Officer
$1,881,664 $23,518 $1,905,182
Stephanie Sessoms EVP & Chief Financial Officer 65.0
Officer
$354,686 $36,636 $391,322
Theodore Lotchin VP & Chief Compliance & Privacy Officer (Until 2/24) 60.0
Officer
$352,999 $45,991 $398,990
Thomas Gough EVP & Chief Operating Officer 60.0
Officer
$665,364 $20,100 $685,464
Carolyn Knaup SVP - Strategic Ventures & Ambulatory Operations 55.0
Key Emp
$404,239 $39,580 $443,819
Charles Harr Chief Medical Officer, Raleigh 60.0
Key Emp
$452,133 $22,865 $474,998
Christine Craig VP, Governmental Affairs 60.0
Key Emp
$312,198 $47,999 $360,197
Cynthia Alness-Boily SVP - Operations & CNO 60.0
Key Emp
$434,516 $42,430 $476,946
Debra Laughery VP, Marketing and Communications 60.0
Key Emp
$341,675 $20,649 $362,324
Gayla Harvey VP, Payor Strategy & Managed Care Contracting 48.0
Key Emp
$325,256 $30,045 $355,301
Jeff Neisen VP, Revenue Cycle 70.0
Key Emp
$329,110 $36,955 $366,065
Jeronica Goodwin SVP, Human Resources 60.0
Key Emp
$348,755 $28,654 $377,409
John Perry VP, Medical Information 60.0
Key Emp
$393,549 $48,441 $441,990
Karen Bash Chief Medical Officer, North 55.0
Key Emp
$382,508 $29,759 $412,267
Karen Chilton MD SVP & Chief Quality Officer 50.0
Key Emp
$405,466 $19,800 $425,266
Micah Krempasky Chief Medical Officer, Mental Health & Well-Being 60.0
Key Emp
$354,244 $47,911 $402,155
Peter Marks VP & Chief Information Officer 55.0
Key Emp
$427,229 $24,425 $451,654
Rebecca Andrews SVP & Administrator Raleigh 70.0
Key Emp
$516,310 $33,508 $549,818
Rick Shrum VP & Chief Strategy Officer 55.0
Key Emp
$388,475 $43,462 $431,937
Seth Brody EVP, Physician Services 60.0
Key Emp
$643,534 $19,800 $663,334
Susan James VP & Chief Legal Officer (Until 12/1/23) 65.0
Key Emp
$429,287 $47,666 $476,953
Thomas Cavender VP, Facilities & Construction 60.0
Key Emp
$370,225 $31,508 $401,733
Thomas Hughes SVP & Administrator Cary 57.0
Key Emp
$333,070 $22,620 $355,690
Valerie Barlow SVP & Administrator North 60.0
Key Emp
$357,180 $48,712 $405,892
ashish Patel Physician 60.0
Highest
$1,538,517 $48,121 $1,586,638
bryon boulton Physician 62.0
Highest
$1,449,918 $45,591 $1,495,509
gurvinder deol Physician 60.0
Highest
$1,313,264 $50,931 $1,364,195
judson williams Physician 80.0
Highest
$1,301,145 $48,150 $1,349,295
mark graham Physician 60.0
Highest
$1,352,763 $20,301 $1,373,064
Roylyn Johnson Former Secretary (Until 2/7/23) 0.0
$121,785 $16,722 $138,507
Shondra Brink Former VP, WakeMed Physician Practices (until 6/3/23) 0.0
$155,426 $14,667 $170,093
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 $2,298,360,002 $2,286,777,227 $1,971,085,645 $11,582,775
2023 $2,067,993,368 $2,092,838,776 $1,866,139,975 $-24,845,408
2022 $1,905,941,318 $1,907,775,364 $1,739,298,787 $-1,834,046
2021 $1,717,539,715 $1,673,018,960 $1,954,958,944 $44,520,755
2020 $1,501,722,240 $1,458,807,966 $1,843,918,342 $42,914,274
2019 $1,413,415,643 $1,385,455,081 $1,655,160,684 $27,960,562
2018 $1,304,033,475 $1,268,441,698 $1,508,036,898 $35,591,777
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