Forsyth Memorial Hospital Inc
- Assets
- $2.1b
- Revenue
- $1.4b
- Investments
- $35.5m
- Employees
- 7,944
- Location
- Winston Salem, NC
- Founding
- 05/1969
- Data as of
- 12/2022
- EIN
- 56-0928089
Organization Overview
Forsyth Memorial Hospital Inc, operating under the name Novant Health Forsyth Medical Center, is located in Winston Salem, NC. The organization was established in 1969. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2022, Novant Health Forsyth Medical Center employed 7,944 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Novant Health Forsyth Medical Center 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 12/2022, Novant Health Forsyth Medical Center generated $1.4b in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $1.4b during the year ending 12/2022. While expenses have increased by 2.9% per year over the past 8 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 2014, Novant Health Forsyth Medical Center has awarded 260 individual grants totaling $8,183,936. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
FORSYTH MEMORIAL HOSPITAL, INC. (FMH), KERNERSVILLE MEDICAL CENTER (KMC), AND CLEMMONS MEDICAL CENTER (CMC) CARRY OUT THE PURPOSE OF THE FORSYTH COUNTY BOARD OF COMMISSIONERS BY ADVANCING AND SUPPORTING THE PROMOTION OF THE HEALTH OF THE INHABITANTS OF FORSYTH COUNTY AND THE KERNERSVILLE AREA OF NC. FMH, KMC, AND CMC MAINTAIN AN OPEN DOOR POLICY, ACCEPTING ALL PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. FMH HAS 859 LICENSED BEDS. DURING 2022 THERE WERE 204,175 PATIENT DAYS WITH AN AVERAGE LENGTH OF STAY OF 7 DAYS, AN AVERAGE DAILY CENSUS OF 559, AND 30,702 DISCHARGES. THERE WERE 19,446 INPATIENT AND OUTPATIENT SURGERIES, A TOTAL OF 1,025,145 OUTPATIENT ENCOUNTERS AND 74,155 EMERGENCY DEPARTMENT VISITS. (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Perrott MD Trustee/senior Physician Executive | Trustee | 45.2 | $526,679 |
Franklin Chen MD Trustee/clinical Physician Executive | Trustee | 45.2 | $652,755 |
Samuel Barefoot Trustee | Trustee | 0.2 | $0 |
Lari Harding Chair | OfficerTrustee | 0.2 | $0 |
Charles Hauser Trustee | Trustee | 0.2 | $0 |
Mike Horn Trustee | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aya Healthcare Inc Travel Nursing Services | 12/30/22 | $87,941,387 |
Vannoy Construction Construction Services | 12/30/22 | $74,617,568 |
Morrison Healthcare Food Management Services | 12/30/22 | $13,846,025 |
Laboratory Corporation Of America Holdin Lab Services | 12/30/22 | $14,841,757 |
The Christman Company Construction Services | 12/30/22 | $12,663,251 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,048,073 |
| Government grants | $19,905,140 |
| All other contributions, gifts, grants, and similar amounts not included above | $320,072 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,273,285 |
| Total Program Service Revenue | $1,347,574,893 |
| Investment income | $698,686 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $381,622 |
| Net Gain/Loss on Asset Sales | $247,043 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,130 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,377,864,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,592,121 |
| Grants and other assistance to domestic individuals. | $512,150 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,950,427 |
| Compensation of current officers, directors, key employees. | $2,950,427 |
| Compensation to disqualified persons | $1,930,450 |
| Other salaries and wages | $465,264,504 |
| Pension plan accruals and contributions | $17,277,250 |
| Other employee benefits | $73,121,421 |
| Payroll taxes | $29,767,292 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,878 |
| 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 | $117,151,667 |
| Advertising and promotion | $869,873 |
| Office expenses | $4,714,966 |
| Information technology | $8,710,855 |
| Royalties | $0 |
| Occupancy | $29,836,230 |
| Travel | $839,812 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $224,005 |
| Interest | $11,396,899 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,618,864 |
| Insurance | $7,915,314 |
| All other expenses | $34,739,759 |
| Total functional expenses | $1,409,445,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,308 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $216,795,688 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,460,024 |
| Inventories for sale or use | $30,572,456 |
| Prepaid expenses and deferred charges | $974,990 |
| Net Land, buildings, and equipment | $356,616,965 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $35,543,671 |
| Investments—program-related | $0 |
| Intangible assets | $1,559,385 |
| Other assets | $1,448,381,958 |
| Total assets | $2,102,000,445 |
| Accounts payable and accrued expenses | $141,893,082 |
| Grants payable | $0 |
| Deferred revenue | $128,664 |
| 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 | $54,359,182 |
| Total liabilities | $196,380,928 |
| Net assets without donor restrictions | $1,905,619,067 |
| Net assets with donor restrictions | $450 |
| 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 | $2,102,000,445 |
Grants Awarded
Over the last fiscal year, Forsyth Memorial Hospital Inc has awarded $1,529,900 in support to 40 organizations.
| Grant Recipient | Amount |
|---|---|
ABC OF NC FOUNDATION PURPOSE: COMMUNITY OUTREACH | $17,000 |
CANCER SERVICES INC PURPOSE: COMMUNITY OUTREACH | $56,000 |
AMERICAN HEART ASSOCIATION INC PURPOSE: COMMUNITY OUTREACH | $96,900 |
CLEMMONS FOOD PANTRY INC PURPOSE: COMMUNITY OUTREACH | $8,000 |
CRISIS CONTROL MINISTRY INC PURPOSE: COMMUNITY OUTREACH | $15,000 |
CROSBY SCHOLARS COMMUNITY PARTNERSHIP PURPOSE: COMMUNITY OUTREACH | $30,000 |