University Health Systems Of Eastern Carolina Foundation Inc
- Assets
- $48.5m
- Revenue
- $16.4m
- Investments
- $30.8m
- Employees
- 0
- Location
- Greenville, NC
- Founding
- 11/2004
- Data as of
- 09/2021
- EIN
- 20-0777374
Organization Overview
University Health Systems Of Eastern Carolina Foundation Inc, operating under the name Vidant Health Foundation, is located in Greenville, NC. The organization was established in 2004. According to its NTEE Classification (E70) the organization is classified as: Public Health, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vidant Health Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Vidant Health Foundation generated $16.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 67.5% each year . All expenses for the organization totaled $2.7m during the year ending 09/2021. While expenses have increased by 23.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Vidant Health Foundation has awarded 439 individual grants totaling $41,023,053. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE GENEROSITY THROUGH PHILANTHROPY IN SUPPORT OF VIDANT HEALTH AND EASTERN NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VIDANT HEALTH FOUNDATION SUPPORTS THE GENERAL PUBLIC AND COMMUNITIES SERVED BY UNIVERSITY HEALTH SYSTEMS OF EASTERN CAROLINA DBA VIDANT HEALTH AND ITS SUBSIDIARIES, AFFILIATES, OR EQUITY PARTNERS BY ASSISTING AND SUPPORTING FINANCIALLY THE REGIONAL HOSPITALS THAT ARE PART OF THE VIDANT HEALTH SYSTEM, AND ANY OTHER QUALIFIED HEALTH CARE PROVIDER, GOVERNMENTAL ENTITY AND CHARITABLE ORGANIZATION FORMED FOR THE PROMOTION OF HEALTH AND WELLNESS. THIS SUPPORT IS CONDUCTED THROUGH CONTRIBUTIONS TO BE USED FOR EQUIPMENT, RESEARCH, EDUCATION, PATIENT AND FAMILY SUPPORT, COMMUNITY BENEFIT, AND DIRECT HEALTH CARE SERVICES. SEE SCHEDULE O FOR A DESCRIPTION OF THE FOUNDATION'S COMMUNITY BENEFIT PROGRAM.
DURING THE FISCAL YEAR, VIDANT HEALTH FOUNDATION RAISED $2,882,486 OF CONTRIBUTIONS ON BEHALF OF NOT-FOR-PROFIT HOSPITALS IN THE VIDANT HEALTH SYSTEM. THESE CONTRIBUIONS ARE CONSIDERED AGENCY TRANSACTIONS UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES AND ARE NOT RECORDED AS REVENUE BY THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Spence Cosby Vice Chair | OfficerTrustee | 1 | $0 |
Mr William D Mitchum Jr Chair | OfficerTrustee | 1 | $0 |
Mr Mitch Jones Treasurer | OfficerTrustee | 1 | $0 |
Mr Scott Senatore President | Officer | 40 | $0 |
Mr Marshall Cherry Trustee | Trustee | 1 | $0 |
Mrs Tess Judge Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,155 |
| Related organizations | $0 |
| Government grants | $967,079 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,077,218 |
| Noncash contributions included in lines 1a–1f | $13,206 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,057,452 |
| Total Program Service Revenue | $0 |
| Investment income | $386,038 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,001,357 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,444,847 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,370,214 |
| Grants and other assistance to domestic individuals. | $139,826 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $200,113 |
| Advertising and promotion | $5,626 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,715,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,731,782 |
| Pledges and grants receivable | $15,902,465 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $30,816,861 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,810 |
| Total assets | $48,496,918 |
| Accounts payable and accrued expenses | $661,984 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,335,213 |
| Total liabilities | $19,997,197 |
| Net assets without donor restrictions | $11,631,940 |
| Net assets with donor restrictions | $16,867,781 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $48,496,918 |
Grants Awarded
Over the last fiscal year, University Health Systems Of Eastern Carolina Foundation Inc has awarded $2,320,855 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
Greenville, NC PURPOSE: Program Support/Capital | $985,785 |
Greenville, NC PURPOSE: Community Benefit/Population Health | $184,000 |
EAST CAROLINA UNIVERSITY PURPOSE: Community Benefit/Population Health | $141,152 |
Kennesaw, GA PURPOSE: Program Support/Capital | $132,500 |
Greenville, NC PURPOSE: Community Benefit/Population Health | $103,000 |
Greenville, NC PURPOSE: Program Support/Capital | $97,418 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that University Health Systems Of Eastern Carolina Foundation Inc has recieved totaling $44,888.
| Awarding Organization | Amount |
|---|---|
1 Of Us Inc Raleigh, NC PURPOSE: Financial assistance to patients | $25,000 |
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: HEALTH | $14,388 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $5,500 |
Endowment Analysis
| Beg. Balance | $1,449,900 |
| Earnings | $275,467 |
| Net Contributions | $12,004,900 |
| Grants | $99,584 |
| Ending Balance | $13,630,683 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mckinney Medical Center Inc Waycross, GA | $3,252,302 | $15,518,624 |
Community Care Center For Forsyth County Winston Salem, NC | $2,083,831 | $14,036,304 |
Partnership Health Center Inc Valdosta, GA | $1,458,604 | $11,973,905 |
Elderhaus Incorporated Wilmington, NC | $1,860,675 | $10,835,875 |
Palmetto Health Council Inc Palmetto, GA | $16,262,807 | $12,244,139 |
Chota Community Health Services Madisonville, TN | $17,550,852 | $15,242,557 |
The Camellia Foundation Inc Memphis, TN | $1,181,110 | $5,773,841 |
Council Of Interstate Testing Agencies Inc Sanford, NC | $995,933 | $3,546,764 |
Martinsville Henry Coalition For Health And Wellness Inc Martinsville, VA | $4,474,599 | $6,623,246 |
American Telemedicine Association Arlington, VA | $1,706,836 | $5,604,534 |
Navicent Health Foundation Inc Macon, GA | $121,557,512 | $13,994,096 |
Upper Savannah Care Services Greenwood, SC | $3,670,837 | $5,045,752 |