CAROLINA MEDICORP ENTERPRISES INC

EIN: 581466368 501(c)(3)

WINSTON SALEM, NC

Total Revenue
$4,224,741
Total Expenses
$4,588,651
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
NC
Principal Officer
CARL ARMATO
Phone
3362772411
Tax Period
2023-01-01 to 2023-01-31

CAROLINA MEDICORP ENTERPRISES INC, founded in 1981, is a community nonprofit that reported $4.2M in total revenue in fiscal year 2022. Revenue fell 90% from the prior year — a significant decline worth monitoring.

Mission

MISSION NOVANT HEALTH EXISTS TO IMPROVE THE HEALTH OF OUR COMMUNITIES, ONE PERSON AT A TIME. VISION WE, THE NOVANT HEALTH TEAM, WILL DELIVER THE MOST REMARKABLE PATIENT EXPERIENCE, IN EVERY DIMENSION, EVERY TIME. VALUES -COMPASSION: WE TREAT OUR CUSTOMERS AND THEIR FAMILIES, STAFF AND OTHER HEALTHCARE PROVIDERS AS FAMILY MEMBERS WITH KINDNESS, PATIENCE, EMPATHY AND RESPECT. -DIVERSITY AND INCLUSION: WE RECOGNIZE THAT EVERY PERSON IS DIFFERENT, EACH SHAPED BY UNIQUE LIFE EXPERIENCES. THIS ENABLES US TO BETTER UNDERSTAND EACH OTHER AND OUR CUSTOMERS. BY ENGAGING THE STRENGTHS AND TALENTS OF EACH TEAM MEMBER, WE ENSURE A STRONG ORGANIZATION CAPABLE OF PROVIDING REMARKABLE HEALTHCARE TO OUR PATIENTS, FAMILIES AND COMMUNITIES. -PERSONAL EXCELLENCE: WE STRIVE TO GROW PERSONALLY AND PROFESSIONALLY AND APPROACH EACH SERVICE OPPORTUNITY WITH A POSITIVE, FLEXIBLE ATTITUDE. HONESTY AND PERSONAL INTEGRITY GUIDE ALL WE DO. -TEAMWORK: THE NEEDS AND EXPECTATIONS OF ANY ONE CUSTOMER ARE GREATER THAN WHAT ONE PERSON'S SERVICE EFFORTS CAN SATISFY. WE SUPPORT EACH OTHER SO THAT TOGETHER AS A TEAM, WE CAN BE SUCCESSFUL IN THE EYE OF THE CUSTOMER AS A QUALITY SERVICE PROVIDER. -COURAGE: WE ACT BOLDLY IN MAKING THE CHANGES NECESSARY TO ACHIEVE OUR MISSION, VISION AND PROMISE OF DELIVERING REMARKABLE HEALTHCARE. -SAFETY: WE EMBRACE A CULTURE IN WHICH "FIRST, DO NO HARM" IS THE FOUNDATION OF REMARKABLE HEALTHCARE. OUR WORK ENVIRONMENT IS ONE OF OPEN COMMUNICATION, HIGH-RELIABILITY, AND A RELENTLESS QUEST TOWARD ZERO EVENTS OF PREVENTABLE HARM. OUR PEOPLE WE ARE AN INCLUSIVE TEAM OF PURPOSE-DRIVEN PEOPLE INSPIRED AND UNITED BY OUR PASSION TO CARE FOR EACH OTHER, OUR PATIENTS AND OUR COMMUNITIES. WE ALWAYS REMEMBER, OUR BUSINESS IS THE CARE OF ALL PEOPLE, STARTING WITH OUR TEAM MEMBERS. OUR PROMISE WE ARE RELENTLESSLY PURSUING REMARKABLE CARE EVERY DAY - SO YOU CAN EXPECT THE COMPASSIONATE, EXPERT, PERSONAL EXPERIENCE YOU DESERVE.

Program Service Accomplishments

Program 1
Expenses: $1,587,742 Revenue: $4,207,052

CAROLINA MEDICORP ENTERPRISES, INC. (CME) IS MADE UP OF QUALITY PHYSICIANS IN A VARIETY OF PRIMARY AND SPECIALTY AREAS PROVIDING GENERAL MEDICAL AND OCCUPATIONAL MEDICINE SERVICES. CME EXISTS TO...

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CAROLINA MEDICORP ENTERPRISES, INC. (CME) IS MADE UP OF QUALITY PHYSICIANS IN A VARIETY OF PRIMARY AND SPECIALTY AREAS PROVIDING GENERAL MEDICAL AND OCCUPATIONAL MEDICINE SERVICES. CME EXISTS TO ADVANCE AND SUPPORT THE PROMOTION OF THE HEALTH OF THE INHABITANTS OF FORSYTH COUNTY, NC AND SURROUNDING AREAS THROUGH THE OPERATION OF URGENT AND OCCUPATIONAL CARE CENTERS AND THE OPERATION OF PRIMARY AND SPECIALTY PHYSICIAN PRACTICES. IN JANUARY 2023, THE ORGANIZATION CONVERTED TO A LIMITED LIABILITY COMPANY WHOLLY OWNED BY NOVANT HEALTH, INC, A TAX-EXEMPT HEALTHCARE ORGANIZATION, AND ALL CONTINUING OPERATIONS ARE REPORTED ON THE NOVANT HEALTH, INC.'S FORM 990.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,207,052
Investment Income $17,689
Other Revenue $0
TOTAL REVENUE $4,224,741

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,541,593
Fundraising Expenses $0
Program Expenses $1,587,742
Other Expenses $3,047,058
TOTAL EXPENSES $4,588,651

Year-over-Year Comparison

2022 2021 Change
Revenue $4,224,741 $42,072,647 -0.9%
Expenses $4,588,651 $50,344,323 -0.9%
Net Income $-363,910 $-8,271,676 -1.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
5
Employees
N/A
Volunteers
9

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
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT BARR MD TRUSTEE 0.20
Director
$0 $0 $0
JOSEPH ELY VICE CHAIR 0.20
Officer Director
$0 $0 $0
DANIEL MURPHY MD CHAIR 0.20
Officer Director
$0 $0 $0
PAMELA OLIVER MD PRESIDENT 0.20
Officer Director
$0 $0 $0
DANIELLE SQUIRES TRUSTEE 0.20
Director
$0 $0 $0
DOUGLAS YOUNG PHD SECRETARY/TREASURER 0.20
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
2023 $4,224,741 $4,588,651 No data $-363,910
2022 $42,072,647 $50,344,323 $7,419,758 $-8,271,676
2021 $46,315,888 $36,084,447 $11,898,708 $10,231,441
2020 $32,409,175 $45,740,998 $12,131,974 $-13,331,823
2019 $25,296,771 $32,830,917 $21,626,892 $-7,534,146
2018 $36,956,062 $42,944,537 $7,861,916 $-5,988,475
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