University Health Systems Of Eastern Carolina Inc
- Assets
- $305.1m
- Revenue
- $334.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Greenville, NC
- Founding
- 08/2000
- Data as of
- 09/2021
- EIN
- 56-2141073
Organization Overview
University Health Systems Of Eastern Carolina Inc, operating under the name Vidant Health, is located in Greenville, NC. The organization was established in 2000. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, 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 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 generated $334.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $296.6m during the year ending 09/2021. While expenses have increased by 4.0% 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 has awarded 50 individual grants totaling $17,336,259. 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 ADVANCE AND SUPPORT THE HEALTHCARE NEEDS OF THE COMMUNITIES OF EASTERN NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Waldrum Chief Executive Officer | Officer | 40 | $1,236,677 |
David Hughes Chief Financial Services Officer | Officer | 40 | $524,333 |
Niti Armistead MD Chief Medical Officer; Quality & Pat | Officer | 40 | $451,611 |
Donette Herring Chief Information Officer | Officer | 40 | $377,874 |
Jay Briley President, Vidant Community Hospitals | Officer | 40 | $349,800 |
John Marques Chief Human Resources Officer | Officer | 40 | $339,590 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medcost Admin Fees | 9/29/21 | $6,368,285 |
Premier Healthcare Solutions Inc Consultants | 9/29/21 | $3,238,572 |
Cisco Systems Capital Corp Hardware Maintance | 9/29/21 | $1,132,259 |
Ecu School Of Medecine Contracted Outside Services | 9/29/21 | $1,053,295 |
Revmd Partners Llc Contracted Outside Services | 9/29/21 | $915,833 |
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 | $680,332 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $680,332 |
| Total Program Service Revenue | $275,667,165 |
| Investment income | $57,507,392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,280 |
| Net Gain/Loss on Asset Sales | $751,917 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $334,615,086 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,969,025 |
| 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. | $5,614,388 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $106,530 |
| Other salaries and wages | $102,798,837 |
| Pension plan accruals and contributions | $6,244,949 |
| Other employee benefits | $4,672,981 |
| Payroll taxes | $7,843,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,125,679 |
| Fees for services: Accounting | $79,485 |
| Fees for services: Lobbying | $250,157 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,246,044 |
| Fees for services: Other | $32,392,885 |
| Advertising and promotion | $4,583,764 |
| Office expenses | $7,616,600 |
| Information technology | $36,277,431 |
| Royalties | $0 |
| Occupancy | $2,734,957 |
| Travel | $686,497 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,696,132 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,964,409 |
| Insurance | $1,688,285 |
| All other expenses | $2,221,843 |
| Total functional expenses | $296,645,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $35,760,027 |
| Pledges and grants receivable | $0 |
| 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 | $1,120,768 |
| Prepaid expenses and deferred charges | $19,190,675 |
| Net Land, buildings, and equipment | $64,714,499 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $305,374 |
| Other assets | $184,008,977 |
| Total assets | $305,100,320 |
| Accounts payable and accrued expenses | $84,538,200 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $643,562,588 |
| 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 | $39,566,213 |
| Total liabilities | $767,667,001 |
| Net assets without donor restrictions | -$462,566,681 |
| 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 | $305,100,320 |
Grants Awarded
Over the last fiscal year, University Health Systems Of Eastern Carolina Inc has awarded $10,181,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Greenville, NC PURPOSE: Charitable | $10,000,000 |
Greenville, NC PURPOSE: Charitable | $100,000 |
NC EASTERN ECONOMIC DEVELOPMENT CORP PURPOSE: sponsorship 2020 | $25,000 |
Greensboro, NC PURPOSE: Sponsorship | $15,000 |
Raleigh, NC PURPOSE: Charitable | $14,000 |
Cleveland, OH PURPOSE: Charitable | $12,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that University Health Systems Of Eastern Carolina Inc has recieved totaling $8,849.
| Awarding Organization | Amount |
|---|---|
American Heart Association Inc Dallas, TX PURPOSE: STROKE PROGRAMS | $7,849 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Global Health Solutions Inc Decatur, GA | $0 | $961,202,345 |
Gothic Hsp Corporation Durham, NC | $2,537,177,274 | $1,194,394,332 |
Georgia Tech Applied Research Corporation Atlanta, GA | $189,895,321 | $634,160,368 |
University Of Virginia Physicians Group Charlottesville, VA | $487,439,220 | $580,982,808 |
Georgia Tech Research Corporation Atlanta, GA | $176,132,447 | $344,901,970 |
University Health Systems Of Eastern Carolina Inc Greenville, NC | $305,100,320 | $334,615,086 |
Caromont Medical Group Inc Gastonia, NC | $43,858,251 | $131,069,416 |
Moses H Cone Memorial Hospital Greensboro, NC | $1,808,997,657 | $191,496,344 |
Intrahealth International Inc Chapel Hill, NC | $25,698,138 | $95,131,742 |
Moses Cone Medical Services Inc Greensboro, NC | $66,450,127 | $85,429,043 |
Sheet Metal Workers National Health Fund Goodlettsville, TN | $59,855,607 | $61,652,205 |
Corvesta Inc Roanoke, VA | $82,180,783 | -$1,235,003 |