Novant Health Inc
- Assets
- $9.0b
- Revenue
- $3.2b
- Investments
- $2.1b
- Employees
- 17,447
- Location
- Winston Salem, NC
- Founding
- 08/1984
- Data as of
- 12/2022
- EIN
- 56-1376950
Organization Overview
Novant Health Inc is located in Winston Salem, NC. The organization was established in 1984. 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 Inc employed 17,447 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Novant Health Inc 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 Inc generated $3.2b in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $3.2b during the year ending 12/2022. While expenses have increased by 19.6% 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 Inc has awarded 178 individual grants totaling $94,241,884. 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:
NOVANT HEALTH, INC. IS THE PARENT HOSPITAL ORGANIZATION OF A NOT-FOR-PROFIT INTEGRATED GROUP OF HOSPITALS, PHYSICIAN CLINICS, OUTPATIENT CENTERS, AND OTHER HEALTHCARE SERVICE PROVIDERS (COLLECTIVELY KNOWN AS "NOVANT HEALTH"). NOVANT HEALTH CONSISTS OF OVER 1,800 PHYSICIANS AND OVER 35,000 TEAM MEMBERS WHO MAKE HEALTHCARE REMARKABLE AT MORE THAN 800 LOCATIONS, INCLUDING 15 MEDICAL CENTERS AND HUNDREDS OF OUTPATIENT FACILITIES AND PHYSICIAN CLINICS. HEADQUARTERED IN WINSTON-SALEM, NC, NOVANT HEALTH IS COMMITTED TO MAKING HEALTHCARE REMARKABLE FOR PATIENTS AND COMMUNITIES.
BRUNSWICK COMMUNITY HOSPITAL, LLC DBA NOVANT HEALTH BRUNSWICK MEDICAL CENTER, NOVANT HEALTH MINT HILL MEDICAL CENTER, LLC, NOVANT HEALTH THOMASVILLE MEDICAL CENTER, LLC, NOVANT HEALTH ROWAN MEDICAL CENTER, LLC, AND NOVANT HEALTH NEW HANOVER REGIONAL MEDICAL CENTER, LLC EXIST TO PROMOTE THE HEALTH OF THE INHABITANTS OF THE BRUNSWICK, MECKLENBURG, DAVIDSON, ROWAN, AND NEW HANOVER COUNTIES OF NC RESPECTIVELY, REGARDLESS OF THE PATIENT'S ABILITY TO PAY. DURING 2022, THE HOSPITALS HAD 1,324 LICENSED BEDS. THERE WERE 328,181 PATIENT DAYS, WITH AN AVERAGE LENGTH OF STAY OF 6 DAYS, AND AN AVERAGE DAILY CENSUS OF 622. THERE WERE 57,286 DISCHARGES, 766,826 INPATIENT AND OUTPATIENT ENCOUNTERS, AND 273,594 EMERGENCY DEPARTMENT VISITS.
THE HOLDING COMPANY FOR NOVANT'S AMBULATORY SERVICES, PRESBYTERIAN AMBULATORY HOLDINGS, LLC, IS A SINGLE MEMBER LLC HELD BY NOVANT HEALTH SOUTHERN PIEDMONT REGION, LLC, A SINGLE MEMBER LLC IN WHICH NOVANT HEALTH IS THE SOLE MEMBER. THE AMBULATORY CENTERS' OPERATIONS SERVE THE COMMUNITY BY PROVIDING ACCESS TO MUCH NEEDED HEALTHCARE SERVICES, REGARDLESS OF THE PATIENT'S ABILITY TO PAY. DURING 2022, THERE WERE 158,592 OUTPATIENT ENCOUNTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Armato Pres & CEO Nh / Trustee | OfficerTrustee | 50 | $4,888,618 |
Brandon T Adcock Trustee | Trustee | 0.2 | $0 |
Deborah Ally Trustee | Trustee | 0.2 | $0 |
James Amos Secretary/treasurer | OfficerTrustee | 0.2 | $0 |
Robert Barr MD Chair | OfficerTrustee | 0.2 | $468 |
Alvaro DE Molina Trustee | Trustee | 0.2 | $347 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robins & Morton Group Construction | 12/30/22 | $80,961,225 |
Aya Healthcare Inc Travel Nursing Services | 12/30/22 | $48,411,386 |
Crothall Health Care Inc Facility Services | 12/30/22 | $43,470,951 |
Epic Systems Corporation It Consulting | 12/30/22 | $13,360,778 |
Unc Chapel Hill Telemed Consultation Services | 12/30/22 | $13,320,262 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,215,009 |
| Government grants | $10,882,919 |
| All other contributions, gifts, grants, and similar amounts not included above | $363,715 |
| Noncash contributions included in lines 1a–1f | $14,042 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,461,643 |
| Total Program Service Revenue | $3,032,648,679 |
| Investment income | $58,372,482 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,596,374 |
| Net Gain/Loss on Asset Sales | $26,077,571 |
| Net Income from Fundraising Events | $2,616 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $32,395 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,193,826,783 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,683,782 |
| Grants and other assistance to domestic individuals. | $318,549 |
| Grants and other assistance to Foreign Orgs/Individuals | $49,950 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $24,837,991 |
| Compensation of current officers, directors, key employees. | $24,837,991 |
| Compensation to disqualified persons | $11,292,979 |
| Other salaries and wages | $1,123,233,798 |
| Pension plan accruals and contributions | $10,236,159 |
| Other employee benefits | $200,095,659 |
| Payroll taxes | $45,669,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,781,200 |
| Fees for services: Accounting | $1,860,333 |
| Fees for services: Lobbying | $75,886 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,366,137 |
| Fees for services: Other | $303,572,493 |
| Advertising and promotion | $36,404,350 |
| Office expenses | $25,664,145 |
| Information technology | $65,450,748 |
| Royalties | $0 |
| Occupancy | $85,349,781 |
| Travel | $3,496,462 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,653,485 |
| Interest | $36,220,238 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $203,085,676 |
| Insurance | $43,131,981 |
| All other expenses | $160,141,745 |
| Total functional expenses | $3,217,545,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $344,022,485 |
| Savings and temporary cash investments | $441,389,134 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $477,994,645 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,520,133 |
| Inventories for sale or use | $90,438,725 |
| Prepaid expenses and deferred charges | $70,517,464 |
| Net Land, buildings, and equipment | $1,933,680,626 |
| Investments—publicly traded securities | $2,626,883,125 |
| Investments—other securities | $2,072,984,813 |
| Investments—program-related | $4,193,046 |
| Intangible assets | $596,207,473 |
| Other assets | $292,131,603 |
| Total assets | $8,958,963,272 |
| Accounts payable and accrued expenses | $582,274,098 |
| Grants payable | $0 |
| Deferred revenue | $20,272,203 |
| Tax-exempt bond liabilities | $634,321,086 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,014,616,250 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,616,620,199 |
| Total liabilities | $6,868,103,836 |
| Net assets without donor restrictions | $2,090,574,011 |
| Net assets with donor restrictions | $285,425 |
| 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 | $8,958,963,272 |
Grants Awarded
Over the last fiscal year, Novant Health Inc has awarded $18,476,022 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
UNC HEALTH FOUNDATION INC PURPOSE: COMMUNITY OUTREACH | $15,450,000 |
ROWAN REGIONAL MEDICAL CENTER FOUNDATION INC PURPOSE: TO SUPPORT NH ROWAN REGIONAL MEDICAL CENTER | $1,519,539 |
WINSTON-SALEM FOUNDATION PURPOSE: COMMUNITY OUTREACH | $340,000 |
CAPE FEAR HABITAT FOR HUMANITY HOUSE BUILD PURPOSE: COMMUNITY OUTREACH | $128,000 |
FOUNDATION FOR THE CAROLINAS PURPOSE: COMMUNITY OUTREACH | $125,000 |
DAVIDSON COUNTY COMMUNITY COLLEGE FOUNDATION INC PURPOSE: COMMUNITY OUTREACH | $90,000 |