CAROLINA HEALTH CENTERS INC

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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

1977

Legal Domicile

Principal Officer

SUE VEER MBA CMPE

Phone

8643880301

Tax Period

2023-06-01 to 2024-05-31

CAROLINA HEALTH CENTERS INC, founded in 1977, is a mid-sized nonprofit in the Health Care sector that reported $38.3M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $36.3M left a modest 5% surplus.

Mission

CAROLINA HEALTH CENTERS OFFERS PRIMARY CARE AND PATIENT SUPPORT SERVICES TO IMPROVE HEALTH, WELL-BEING AND QUALITY OF LIFE THROUGHOUT THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $27,416,785 Revenue: $20,075,670

CAROLINA HEALTH CENTERS PROVIDES HIGH QUALITY PRIMARY HEALTHCARE SERVICES TO THE RESIDENTS OF OUR SEVEN COUNTY AREA. THESE SERVICES ARE PROVIDED TO ALL PATIENTS, REGARDLESS OF THEIR ABILITY TO PAY...

CAROLINA HEALTH CENTERS PROVIDES HIGH QUALITY PRIMARY HEALTHCARE SERVICES TO THE RESIDENTS OF OUR SEVEN COUNTY AREA. THESE SERVICES ARE PROVIDED TO ALL PATIENTS, REGARDLESS OF THEIR ABILITY TO PAY. THE HEALTH CENTER UTILIZES AN INCOME-BASED SLIDING FEE SCALE TO DISCOUNT THE COST OF SERVICES TO THE UNINSURED AND UNDERINSURED POPULATION.

Program 2

Revenue: $25,707,215

CAROLINA HEALTH CENTERS PROVIDES PHARMACY SERVICES TO OUR PATIENTS AND TO THE GENERAL PUBLIC. OUR PATIENTS RECEIVE A DISCOUNT ON THEIR MEDICATION THROUGH THE 340B DRUG PROGRAM. WE ALSO OFFER DELIVERY...

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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 $7,116,485

Program Service Revenue $20,075,670

Investment Income $304,596

Other Revenue $10,835,125

TOTAL REVENUE $38,331,876

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,607,642

Fundraising Expenses $0

Program Expenses $27,416,785

Other Expenses $9,719,673

TOTAL EXPENSES $36,327,315

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,331,876	$34,179,128	+0.1%
Expenses	$36,327,315	$33,522,842	+0.1%
Net Income	$2,004,561	$656,286	+2.1%

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

Governance

Voting Members

Independent Members

Employees

384

Volunteers

N/A

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

Total Directors

Key Employees

$1,615,462

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID BRIDGES MD	FAMILY PRACT	40.00	Highest	$281,352	$0	$281,352
LOCKE SIMONS MD	CHIEF MEDICA	40.00	Key Emp	$277,217	$0	$277,217
SUE VEER MBA CMPE	CHIEF EXECUT	40.00	Key Emp	$264,726	$0	$264,726
CHRISTINE GRAY MD	DIR OF PEDIA	40.00	Key Emp	$264,512	$0	$264,512
ASHLEY JENKINS MD	PEDIATRICIAN	40.00	Highest	$256,993	$0	$256,993
CHRISTIAN REINHOLZ MD	FAMILY PRACT	40.00	Highest	$252,038	$0	$252,038
JASON DAHLBERG MD	DIR FAMILY M	40.00	Key Emp	$246,423	$0	$246,423
DANIEL LAPP	PEDIATRICIAN	40.00	Highest	$239,070	$0	$239,070
PAUL GROGAN MBA	CHIEF FINANC	40.00	Key Emp	$206,758	$0	$206,758
DOMINIC MELLETTE PHARMD	CHIEF PHARMA	40.00	Key Emp	$182,670	$0	$182,670
MIRIAM FERGUSON	COO	40.00	Key Emp	$173,156	$0	$173,156
ABBY BANKS	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
JOHANNA BISHOP	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN BRITT	VICE CHAIRPE	1.00	Officer Director	$0	$0	$0
RODRIGUIS BROWN	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG BULLARD	BOARD MEMBER	1.00	Director	$0	$0	$0
GAIL FERGUSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JULIAN GALE	BOARD MEMBER	1.00	Director	$0	$0	$0
SOJOURNER JENNINGS	BOARD MEMBER	1.00	Director	$0	$0	$0
KIMBERLY KAPETANAKOS	BOARD MEMBER	1.00	Director	$0	$0	$0
MARIO LUNA	BOARD MEMBER	1.00	Director	$0	$0	$0
MALCOLM O'NEAL	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID OTABOR	BOARD MEMBER	1.00	Director	$0	$0	$0
BONNIE RAMAGE	SECR/TREASUR	1.00	Officer Director	$0	$0	$0

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
2025	No data	No data	No data	No data
2024	$38,331,876	$36,327,315	$26,999,171	$2,004,561
2023	$34,179,128	$33,522,842	$25,542,856	$656,286
2022	$35,758,767	$30,130,209	$22,705,759	$5,628,558
2021	$29,202,487	$27,341,107	$17,416,636	$1,861,380
2020	$25,813,541	$24,831,137	$16,146,461	$982,404
2019	$23,754,231	$24,056,577	$13,018,835	$-302,346