CENTENNIAL HOUSING & COMMUNITY SER… - Form 990 Financial Data

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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

2018

Legal Domicile

Principal Officer

Frank T Avignone IV

Phone

2146297860

Tax Period

2023-01-01 to 2023-12-31

CENTENNIAL HOUSING & COMMUNITY SERVICES CORPORATION, founded in 2018, is a mid-sized nonprofit in the Human Services sector that reported $14.6M in total revenue in fiscal year 2023. Expenses of $16.5M exceeded revenue, resulting in a 13% operating deficit.

Mission

Centennial Housing & Community Services Corporation (DBA Washington Regional Medical Center) is committed to providing quality health care. The focus of our institution is on training and skill development so we do the right things at the right time--every time. WRMC is dedicated to improving the health and quality of life for the people and communities we serve. WRMC is committed to offering quality and value-driven services to all individuals seeking assistance.

Program Service Accomplishments

Program 1

Expenses: $7,958,566 Revenue: $14,633,435

WRMC is located in a medically underserved and provider shortage area in eastern North Carolina. The health system provides primary care services through its rural clinic and specialist outpatient...

WRMC is located in a medically underserved and provider shortage area in eastern North Carolina. The health system provides primary care services through its rural clinic and specialist outpatient services through it's outpatient facilities. WRMC provides women's health services through its state of the art women's center where women of all walks of life can acquire focused health and wellness services. Total emergency department volume was 5344 with an average monthly total of 445, total inpatient volume was 1145 patients and rehabilitative care (Swing Bed) volume was 1462 patients. The health system signed several small regional employer groups to contracts to care for their employees reducing their over all healthcare expense. WRMC is committed to providing quality healthcare. WRMC strives to deliver exceptional service to our patients, employees, physicians and community. WRMC is dedicated to improving the health and quality of life for the people and communities we serve.

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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 $0

Program Service Revenue $14,633,435

Investment Income $0

Other Revenue $0

TOTAL REVENUE $14,633,435

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,501,298

Fundraising Expenses $0

Program Expenses $7,958,566

Other Expenses $5,988,438

TOTAL EXPENSES $16,489,736

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,633,435	$14,115,701	+0.0%
Expenses	$16,489,736	$17,322,525	0.0%
Net Income	$-1,856,301	$-3,206,824	-0.4%

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

N/A

Employees

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

$858,007

Total Directors

Key Employees

$218,392

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Amanze Ugoji	Chief Executive Officer	40	Officer	$372,815	$0	$372,815
Cameron Smith	Nurse Practitioner	40	Highest	$328,721	$0	$328,721
Lois Roberson	Doctorate Prepared Nurse Practitioner	40	Highest	$279,970	$0	$279,970
Timothy Madigan	Physician	40	Highest	$273,075	$0	$273,075
Chrystie Stowe	Nurse Practitioner	40	Highest	$233,392	$0	$233,392
Bruce Patterson	EVP Business Development & Business Affairs	40	Key Emp	$218,392	$0	$218,392
Tonda Garrison	Chief Operating Officer	40	Officer	$166,154	$0	$166,154
Russell Anduza	Chief Information Technology Officer	40	Officer	$161,538	$0	$161,538
Frank Avignone	Chief Executive Officer - current	40	Officer	$157,500	$0	$157,500

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	$14,633,435	$16,489,736	$8,096,934	$-1,856,301
2022	$14,115,701	$17,322,525	$11,107,057	$-3,206,824
2021	$17,463,913	$20,842,139	$10,197,937	$-3,378,226
2020	$6,181,394	$5,878,739	$9,920,569	$302,655

CENTENNIAL HOUSING & COMMUNITY SERVICES CORPORATION