WAKEMED GROUP RETURN

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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

Legal Domicile

Phone

9193500522

Tax Period

2023-10-01 to 2024-09-30

WAKEMED GROUP RETURN is a mid-sized nonprofit in the Health Care sector that reported $44.6M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $52.0M exceeded revenue, resulting in a 17% operating deficit.

Mission

TO MAINTAIN AND OPERATE PROPERTIES, AID AND PROMOTE THE IMPROVEMENT AND DEVELOPMENT OF WAKEMED'S EDUCATION AND SCIENTIFIC PROGRAMS, AND TO TRANSFORM HEALTHCARE THROUGH PHILANTHROPY BY RAISING FRIENDS, FUNDS, AND FUTURE LEADERS FOR WAKEMED.

Program Service Accomplishments

Program 1

Expenses: $43,907,501 Revenue: $31,861,763

wakemed property services purchases, leases, and maintains properties in wake, johnston and durham counties for the purposes of leasing or subleasing space to wakemed and other medical providers to expand the accessibility of medical services in the vicinity. property services currently owns and maintains thirty-one (purchase of 200 ashville avenue) properties (including land that is under development), and leases fifty-two properties (fy23 was 51). multiple wakemed departments and physician practices occupy the owned and leased space including four free-standing emergency departments, two ambulatory surgery centers, six outpatient imaging centers, five outpatient rehabilitation departments and a mobile critical care ambulance department. currently, there are one hundred and twenty-three physician practices located in these buildings. a wide variety of care options are offered at each of these facilities and are designed by location and services to enhance care for all residents of the community served. Most locations are leased in areas experiencing rapid growth with limited options for medical care including primary care and specialists.

Program 2

Expenses: $5,822,887 Revenue: $0

THE WAKEMED FOUNDATION IS A CHARITABLE RESOURCE FOR WAKEMED, SUPPORTING THE HEALTH SYSTEM IN ITS COMMITMENT TO PROVIDING QUALITY HEALTHCARE TO ALL CITIZENS OF THE COMMUNITY. FUNDRAISING ACTIVITIES...

THE WAKEMED FOUNDATION IS A CHARITABLE RESOURCE FOR WAKEMED, SUPPORTING THE HEALTH SYSTEM IN ITS COMMITMENT TO PROVIDING QUALITY HEALTHCARE TO ALL CITIZENS OF THE COMMUNITY. FUNDRAISING ACTIVITIES SUPPORT WAKEMED THROUGH FUNDRAISING AND EDUCATIONAL AWARENESS OF QUALITY HEALTHCARE PROGRAMS AND SERVICES AVAILABLE AT WAKEMED FOR THE CITIZENS OF THE COMMUNITY WITH THE PURPOSE OF PROVIDING PHILANTHROPIC SUPPORT FOR NUMEROUS WAKEMED PROGRAMS AND SERVICES. THE FOUNDATION HAS HELPED FURTHER WAKEMED'S MISSION TO THE COMMUNITY.

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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 $10,902,049

Program Service Revenue $31,357,580

Investment Income $2,065,450

Other Revenue $269,825

TOTAL REVENUE $44,594,904

Expense Breakdown

Grants Paid $451,803

Salaries & Benefits $2,200,974

Fundraising Expenses $929,480

Program Expenses $49,730,388

Other Expenses $49,294,352

TOTAL EXPENSES $51,954,129

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,594,904	$32,481,397	+0.4%
Expenses	$51,954,129	$40,871,945	+0.3%
Net Income	$-7,359,225	$-8,390,548	-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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

118

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

$3,643,805

Total Directors

$2,315,043

Key Employees

$8,177,541

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Aba Forson	BOD, WakeMed Foundation (until 12/31/23)	0.5	Director	$0	$0	$0
Anna Goodmon MD	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Blount Williams	BOD, WakeMed Property Services	2.1	Director	$0	$0	$0
Brian Reid	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Chris Wrench	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Christina A Shanahan	BOD, WakeMed Property Services	1.8	Director	$0	$0	$0
Creighton Blackwell	BOD, WakeMed Foundation (until 12/31/25)	0.5	Director	$0	$0	$0
Dan Blue III	BOD, WakeMed Property Services	2.1	Director	$0	$0	$0
Dana Green	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Denny Fingers	BOD, WakeMed Foundation (until 12/31/23)	0.5	Director	$0	$0	$0
Elizabeth Williamson	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Gavin Shaw	Secretary, BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Gloria Becker	Vice Chair, BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Greg McNamara	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Henry L Darnell	BOD, WakeMed Property Services (Until 5/25/24)	2.3	Director	$0	$0	$0
James Anthony Penry	BOD, WakeMed Property Services	1.8	Director	$0	$0	$0
Jane D Evans	BOD, WakeMed Foundation (Until 12/31/23), Chair	0.5	Director	$0	$0	$0
Jeff Edwards	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Jenneth Mitchell	Treasurer, BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Jenny Winston	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
John Matthews Secretary Ret 122023	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
John Sinden MD	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Joy Sloan	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Jun Park	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Karen Chilton MD	BOD, WM Fnd (From 1/24) SVP & Chief Quality Officer	0.5	Director	$0	$19,800	$425,266
Katie McKenzie	BOD, WakeMed Foundation (From 1/1/24)	0.5	Director	$0	$0	$0
Keemia Shaw	BOD, WakeMed Property Services	1.4	Director	$0	$0	$0
Kevin McLaughlin	BOD, WakeMed Foundation (Until 12/31/23)	0.5	Director	$0	$0	$0
Larry Barbour	BOD, WakeMed Property Services (until 5/25/24)	2.5	Director	$0	$0	$0
Larry Long Jr	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Laura Helton MD	BOD, WakeMed Property Services	1.8	Director	$0	$0	$0
Margaret Bratton	BOD, WM Fnd (until 12/23) BOD, WPS	2.1	Director	$0	$0	$0
Mary Nash Rusher	BOD, WakeMed Property Srvcs & Secretary	2.1	Director	$0	$0	$0
Michael Ferguson MD	BOD, WakeMed Foundation	0.5	Director	$0	$45,591	$852,041
Michael Painter	BOD, WakeMed Property Services & BOD, WakeMed Foundation	1.8	Director	$0	$0	$0
Peter M Scott III	BOD, WakeMed Property Services	1.4	Director	$0	$0	$0
R Michael Gray	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Rasheeda Monroe MD	BOD, WakeMed Foundation	0.5	Director	$0	$19,800	$374,402
Robert Ange	BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Robert C Rice Jr	BOD, WakeMed Property Services	2.1	Director	$0	$0	$0
Satish Garimella	BOD, WakeMed Property Services	1.6	Director	$0	$0	$0
Satish Mathan MD	Chair, BOD, WakeMed Foundation	0.5	Director	$0	$0	$0
Seth Brody	BOD, WakeMed Fdn (Until 12/31/23), EVP, Physician Srvcs	0.5	Director	$0	$19,800	$663,334
Sonia Barnes	BOD, WakeMed Property Services	1.8	Director	$0	$0	$0
Thad L McDonald MD	BOD, WakeMed Property Services & Chair	3.2	Director	$0	$0	$0
David Nussman	VP, Compliance and Privacy - Interim (Start 12/3/23)	0.0	Officer	$0	$34,107	$170,090
Dionne Whitaker	Officer - Secretary	0.0	Officer	$0	$7,994	$92,757
Donald Gintzig	President & CEO	0.0	Officer	$0	$23,518	$1,905,182
Stephanie Sessoms	EVP & Chief Financial Officer	0.0	Officer	$0	$36,636	$391,322
Theodore Lotchin	VP & Chief Compliance & Privacy Officer (Until 2/24)	0.0	Officer	$0	$45,991	$398,990
Thomas Gough	EVP & Chief Operating Officer	0.0	Officer	$0	$20,100	$685,464
Carolyn Knaup	SVP - Strategic Ventures & Ambulatory Operations	0.0	Key Emp	$0	$39,580	$443,819
Charles Harr	Chief Medical Officer, Raleigh	0.0	Key Emp	$0	$22,865	$474,998
Christine Craig	VP, Governmental Affairs	0.0	Key Emp	$0	$47,999	$360,197
Cynthia Alness-Boily	SVP - Operations & CNO	0.0	Key Emp	$0	$42,430	$476,946
Debra Laughery	VP, Marketing and Communications	0.0	Key Emp	$0	$20,649	$362,324
Doug Trocinski	CMO, Cary Administration	0.0	Key Emp	$0	$12,990	$320,720
Gayla Harvey	VP, Payor Strategy & Managed Care Contracting	0.0	Key Emp	$0	$30,045	$355,301
Jeff Neisen	VP, Revenue Cycle	0.0	Key Emp	$0	$36,955	$366,065
Jeronica Goodwin	SVP, Human Resources	0.0	Key Emp	$0	$28,654	$377,409
John Perry	VP, Medical Information	0.0	Key Emp	$0	$48,441	$441,990
Karen Bash	Chief Medical Officer, North	0.0	Key Emp	$0	$29,759	$412,267
Micah Krempasky	Chief Medical Officer, Mental Health & Well-Being	0.0	Key Emp	$0	$47,911	$402,155
Peter Marks	VP & Chief Information Officer	0.0	Key Emp	$0	$24,425	$451,654
Rebecca Andrews	SVP & Administrator Raleigh	0.0	Key Emp	$0	$33,508	$549,818
Rick Shrum	VP & Chief Strategy Officer	0.0	Key Emp	$0	$43,462	$431,937
Susan James	VP & Chief Legal Officer (Until 12/1/23)	0.0	Key Emp	$0	$47,666	$476,953
Thomas Cavender	VP, Facilities & Construction	0.0	Key Emp	$0	$31,508	$401,733
Thomas Hughes	SVP & Administrator Cary	0.0	Key Emp	$0	$22,620	$355,690
Valerie Barlow	SVP & Administrator North	0.0	Key Emp	$0	$48,712	$405,892
Waquiah Ellis	VP, Nursing	0.0	Key Emp	$0	$35,256	$309,673
ashish Patel	Physician	0.0	Highest	$0	$48,121	$1,586,638
bryon boulton	Physician	0.0	Highest	$0	$45,591	$1,495,509
gurvinder deol	Physician	0.0	Highest	$0	$50,931	$1,364,195
judson williams	Physician	0.0	Highest	$0	$48,150	$1,349,295
mark graham	Physician	0.0	Highest	$0	$20,301	$1,373,064
Roylyn Johnson	Former Secretary (Until 2/7/23)	0		$0	$16,722	$138,507
Shondra Brink	Former VP, WakeMed Physician Practices (until 6/3/23)	0		$0	$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	$44,594,904	$51,954,129	$481,033,732	$-7,359,225
2023	$32,481,397	$40,871,945	$408,937,900	$-8,390,548
2022	$32,094,659	$39,641,163	$412,467,377	$-7,546,504
2021	$30,125,616	$31,694,086	$319,222,964	$-1,568,470
2020	$26,561,346	$27,649,469	$289,005,823	$-1,088,123
2019	$22,227,500	$24,674,892	$258,401,254	$-2,447,392
2018	$17,936,574	$21,029,878	$263,274,887	$-3,093,304