Caromont Health Services Inc
- Assets
- $9.5m
- Revenue
- $19.2m
- Investments
- $0.0
- Employees
- 185
- Location
- Gastonia, NC
- Founding
- 05/1986
- Data as of
- 06/2022
- EIN
- 56-1455630
Organization Overview
Caromont Health Services Inc is located in Gastonia, NC. The organization was established in 1986. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 06/2022, Caromont Health Services Inc employed 185 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caromont Health Services 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 06/2022, Caromont Health Services Inc generated $19.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $17.5m during the year ending 06/2022. While expenses have increased by 3.8% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE COMPASSIONATE, EXCEPTIONAL AND HIGHLY RELIABLE CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O.CAROMONT HEALTH IS A NOT-FOR-PROFIT HEALTH SYSTEM HEADQUARTERED IN GASTONIA, NC THAT PROVIDES INPATIENT AND OUTPATIENT MEDICAL SERVICES WITHIN FIVE COUNTIES AND TWO STATES. ANCHORED BY THE 435-BED, ACUTE CARE HOSPITAL, CAROMONT REGIONAL MEDICAL CENTER, THE HEALTH SYSTEM EMPLOYS NEARLY 4,5000 HEALTHCARE PROFESSIONALS WITH A MEDICAL STAFF MEMBERSHIP OF MORE THAN 450.CAROMONT HEALTH SERVICES OWNS AND OPERATES CAROMONT SPECIALTY SURGERY, COURTLAND TERRACE AND CAROMONT ENDOSCOPY CENTER.CAROMONT SPECIALTY SURGERY IS A FREE-STANDING AMBULATORY SURGERY CENTER ON THE CAMPUS OF CAROMONT REGIONAL MEDICAL CENTER, WHICH PERFORMS OPHTHALMOLOGY, ENT, COSMETIC AND ORTHOPEDIC SURGICAL PROCEDURES. IN FISCAL YEAR 2022, THE CENTER PERFORMED APPROXIMATELY 3,554 SURGICAL PROCEDURES. COURTLAND TERRACE IS A SKILLED NURSING FACILITY LICENSED FOR 77 SKILLED NURSING BEDS AND 19 ASSISTED LIVING BEDS. SKILLED NURSING SERVICES PROVIDED AT COURTLAND TERRACE INCLUDE SHORT-TERM REHABILITATION, ALZHEIMER'S' SPECIAL CARE AND LONG-TERM CARE. IN FISCAL YEAR 2022, THE NURSING HOME PROVIDED CARE TO AN AVERAGE OF 82 PATIENTS EACH DAY. CAROMONT ENDOSCOPY CENTER IS A FREE-STANDING OUTPATIENT ENDOSCOPY CENTER, LOCATED IN BELMONT AND OPENED IN 2012. CAROMONT ENDOSCOPY CENTER PROVIDES OUTPATIENT ENDOSCOPIC PROCEDURES FOR UPPER ENDOSCOPY AND SCREENING COLONOSCOPY. IN FISCAL YEAR 2022, THE CENTER PERFORMED 5,660 PROCEDURES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Pearl Burris-Floyd Chair | OfficerTrustee | 1 | $0 |
Ms Janie Peak Director | Trustee | 1 | $0 |
Mr Bob Hovis Director (begin 1/1/22) | Trustee | 1 | $0 |
Mr Tom Efird Director (through 12/31/21) | Trustee | 1 | $0 |
Mr K Christopher Peek CEO | Officer | 1 | $0 |
Mr David O'connor Evp/cfo/asst. Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $19,135,810 |
| Investment income | $44 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,175,361 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $7,611,113 |
| Pension plan accruals and contributions | $262,505 |
| Other employee benefits | $1,175,417 |
| Payroll taxes | $539,472 |
| 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 | $2,085,147 |
| Advertising and promotion | $0 |
| Office expenses | $160,326 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $524,556 |
| Travel | $42,310 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,254 |
| Interest | $1,965 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,090,977 |
| Insurance | $56,078 |
| All other expenses | $12,837 |
| Total functional expenses | $17,522,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,599 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $872,358 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $206,900 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $8,342,054 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,101 |
| Total assets | $9,483,012 |
| Accounts payable and accrued expenses | $734,621 |
| 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 | -$376 |
| Total liabilities | $734,245 |
| Net assets without donor restrictions | $8,748,767 |
| Net assets with donor restrictions | $0 |
| 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 | $9,483,012 |